# PNC Financial Services Group (PNC) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/PNC/thesis · /stocks/PNC/memo

## 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 ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/PNC/fundamental

## Navigation

- Overview: /stocks/PNC
- Financials (this page): /stocks/PNC/financials
- Thesis: /stocks/PNC/thesis
- Investment Memo: /stocks/PNC/memo
- Coverage universe: /stocks