Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

PNC Financial Services

PNC stock analysis · Financials · Diversified Banks

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$246.22HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$98.9B

Price × SEC outstanding shares. Shares measured 2026-04-14. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

-13.3%

5 industry peers · median 13.0×

How this is calculated ↗
Valuation

Historical multiples

14.9×

7 annual observations · snapshot P/E 15.0× · 1.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

2.4%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 10.1B2020-12-31: cfo $4,659,000,000.0020202021-12-31: cfo $7,214,000,000.0020212022-12-31: cfo $9,083,000,000.0020222023-12-31: cfo $10,111,000,000.0020232024-12-31: cfo $7,880,000,000.0020242025-12-31: cfo $4,384,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3123.1B7B4.4B573.6B
2024-12-3121.6B6B7.9B560B
2023-12-3121.5B5.6B10.1B561.6B
2022-12-3121.1B6.1B9.1B557.3B
2021-12-3119.2B5.7B7.2B557.2B
2020-12-3116.9B7.6B4.7B466.7B
2019-12-3116.8B5.4B7.4B410.3B
2018-12-3116.2B5.3B7.8B382.3B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue23.1BRevenues2026-02-20
netIncome7BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent/common earnings proxy6.6BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-20
cfo4.4BNetCashProvidedByUsedInOperatingActivities2026-02-20
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets573.6BAssets2026-02-20
equity60.6BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy60.6BStockholdersEquity2026-02-20
debt57.1BLongTermDebt2026-02-20
shortDebtNot reported under a supported tag
cash39.7BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-20
shares396MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends2.6BPaymentsOfDividendsCommonStock2026-02-20
buybacks1.3BPaymentsForRepurchaseOfCommonStock2026-02-20
issuanceNot reported under a supported tag