PNC Financial Services Group
PNCFinancial Analysis · Updated May 12, 2026 · Coverage 2026-Q2
Latest Q Revenue
$6.2B
Q1 2026 · Missed consensus by 1.12%
TTM ROIC
16.8%
Q3 2025 · ROTCE (Return on Tangible Common Equity) · WACC ~10.5% · Moat spread +6pp
Financial Snapshot
ticker: PNC step: 04 generated: 2026-05-12 source: quick-research
The PNC Financial Services Group (PNC) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY (25) |
|---|---|---|---|---|---|
| Total Revenue | $21.6B | $22.5B | $34.4B | $34.0B | -1.3% |
| Net Interest Income | $13.9B | $13.9B | $13.5B | $14.4B | +6.7% |
| Non-Interest Income | $7.7B | $8.6B | $20.9B | $19.6B | (TIH 24 gain) |
| Net Income | $6.1B | $5.6B | $6.0B | $7.0B | +17% |
| Diluted EPS | $13.85 | $12.79 | $13.74 | $16.59 | +20.7% |
| Net Interest Margin | 2.77% | 2.74% | 2.75% | 2.85% | +10bps |
| Efficiency Ratio | 59% | 63% | 63% | 60% | -300bps |
FY25 record EPS $16.59 (+20.7% YoY). NIM expanding toward 3%+ target. Q4 25 record total revenue $6.1B. Q1 26 adjusted EPS $4.32.
Cash Flow & Balance Sheet (FY2025)
| Metric | Value |
|---|---|
| Total Assets | ~$586B (post-FirstBank) |
| Loans | ~$320B |
| Deposits | ~$420B |
| CET1 Ratio | ~10.5% |
| ROE | ~12% |
| ROTCE | ~14-15% |
Key Ratios (approximate)
- P/E: ~14x | P/TBV: ~1.6x | P/B: ~1.4x
- Revenue Growth (TTM): -1% (BBVA + TIH gain in 24)
- Dividend Yield: ~3.8% | Dividend: $6.40/share
- $600-700M quarterly buyback pace (2026)
Growth Profile
2026 outlook: NII +14.5% YoY; total revenue +11%; NIM moving above 3% in back half. $50B fixed-rate assets repricing into higher yields. FirstBank acquisition (Jan 2026) adds $26B assets + Southeast expansion. Harris Williams M&A advisory + capital markets recovery. Long-term EPS growth ~10-12%.
Forward Estimates
- FY 2026: Revenue ~$38B; adj EPS $20-22; NIM 3.0%+ exit rate
- FY 2027: Adj EPS $22-24 with FirstBank synergies + buyback compounding
- $600-700M quarterly buyback = ~$2.5-2.8B annual = ~3% of market cap
- Plus 3.8% dividend yield = ~7% capital return
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $PNC.
Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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