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

U.S. Bancorp

USB 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
$60.40HISTORICAL 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
$93.8B

Price × SEC outstanding shares. Shares measured 2026-04-30. 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

5.6%

5 industry peers · median 13.8×

How this is calculated ↗
Valuation

Historical multiples

13.0×

7 annual observations · snapshot P/E 13.0× · 0.0% 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

2.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

3.9%

Annual basis · read assumptions below

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 21.1B2020-12-31: cfo $3,716,000,000.0020202021-12-31: cfo $9,870,000,000.0020212022-12-31: cfo $21,119,000,000.0020222023-12-31: cfo $8,393,000,000.0020232024-12-31: cfo $11,350,000,000.0020242025-12-31: cfo $7,970,000,000.002025
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
2025-12-3128.7B7.6B8B692.3B
2024-12-3127.5B6.3B11.4B678.3B
2023-12-3128.1B5.5B8.4B663.5B
2022-12-3124.3B5.8B21.1B674.8B
2021-12-318B9.9B573.3B
2020-12-315B3.7B553.9B
2019-12-316.9B4.9B495.4B
2018-12-3122.6B7.1B10.6B467.4B

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
revenue28.7BRevenues2026-02-23
netIncome7.6BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-23
Parent/common earnings proxy7.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-23
cfo8BNetCashProvidedByUsedInOperatingActivities2026-02-23
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets692.3BAssets2026-02-23
equity65.7BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-23
Parent book equity proxy65.2BStockholdersEquity2026-02-23
debt60.8BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-23
shortDebt17.2BShortTermBorrowings2026-02-23
cash46.9BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-23
shares1.6BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-23
dividends3.2BPaymentsOfDividendsCommonStock2026-02-23
buybacks489MPaymentsForRepurchaseOfCommonStock2026-02-23
issuance45MProceedsFromIssuanceOfCommonStock2026-02-23