U.S. Bancorp (USB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.29	$1.35	+4.7%	—	—	—
Q4 26	$1.14	$1.18	+3.5%	—	—	—
Q3 26	$1.19	$1.26	+5.9%	—	—	—
Q2 26	$1.12	$1.22	+8.9%	—	—	—
Q1 26	$1.07	$1.11	+3.7%	—	—	—
Q4 25	$0.97	$1.03	+6.2%	—	—	—
Q3 25	$1.05	$1.07	+1.9%	—	—	—
Q2 25	$0.99	$1.03	+4.0%	—	—	—
Q1 25	$0.95	$0.97	+2.1%	—	—	—
Q4 24	$0.88	$0.78	-11.4%	—	—	—
Q3 24	$0.91	$0.49	-46.2%	—	—	—
Q2 24	$1.01	$0.91	-9.9%	—	—	—
Q1 24	$1.1	$0.84	-23.6%	—	—	—
Q4 23	$1.12	$1.04	-7.1%	—	—	—
Q3 23	$1.14	$0.57	-50.0%	—	—	—
Q2 23	$1.16	$1.16	0.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.62	—	—	$28.5B	—
FY24	—	$3.79	—	—	$27.3B	—
FY23	—	$3.27	—	—	$28B	—
FY22	—	$3.69	—	—	$24.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$21B	$21.7B	$22.5B	$22.9B	$23.2B	$22.7B	$24.2B	$28B	$27.3B	$28.5B
YoY change	+4.94%	+3.54%	+3.8%	+1.61%	+1.5%	-2.17%	+6.44%	+15.8%	-2.42%	+4.41%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	21B	21.7B	22.5B	22.9B	23.2B	22.7B	24.2B	28B	27.3B	28.5B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.7B	7.4B	7.8B	8B	8.3B	9.1B	9.6B	11.1B	11.2B	11B
Operating expenses	6.7B	7.4B	7.8B	8B	8.3B	9.1B	9.6B	11.1B	11.2B	11B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	8.1B	7.5B	8.7B	8.6B	6.1B	10.2B	7.3B	6.9B	7.9B	9.5B
Income tax	2.2B	1.3B	1.6B	1.6B	1.1B	2.2B	1.5B	1.4B	1.6B	1.9B
Net income	5.9B	6.3B	7.1B	6.9B	5B	8B	5.8B	5.5B	6.3B	7.6B
Net margin	28.4%	28.8%	31.6%	30.4%	21.5%	35.1%	24.1%	19.5%	23.2%	26.6%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	3.25	3.53	4.15	4.16	3.06	5.11	3.69	3.27	3.79	4.62
Diluted EPS	3.24	3.51	4.14	4.16	3.06	5.1	3.69	3.27	3.79	4.62

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	7B	6.7B	6.7B	6.8B	6.8B	7B	6.9B	7B	7.3B	7.3B	7.3B	7.7B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.7B	2.7B	2.8B	2.9B
Operating expenses	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.7B	2.7B	2.8B	2.9B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	2B	1B	1.7B	2.1B	2.1B	2.1B	2.2B	2.3B	2.5B	2.5B	2.4B	2.7B
Income tax	431M	139M	347M	445M	350M	438M	443M	472M	524M	482M	469M	537M
Net income	1.5B	861M	1.3B	1.6B	1.7B	1.7B	1.7B	1.8B	2B	2.1B	1.9B	2.2B
Net margin	21.8%	12.8%	19.8%	23.6%	25.2%	23.9%	24.8%	26.1%	27.5%	28%	26.9%	28.4%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.91	0.49	0.78	0.97	1.03	1.01	1.03	1.11	1.22	1.26	1.18	1.35
Diluted EPS	0.91	0.49	0.78	0.97	1.03	1.01	1.03	1.11	1.22	1.26	1.18	1.35

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	88.3B	89.9B	74.7B	93.7B	70.3B	83.6B	64.9B	66.8B	74.6B	83.1B	91.6B
Enterprise value	53.1B	50.8B	41.6B	10.9B	-77.9B	-36B	8.7B	-916M	-2.6B	13.8B	129B
Shares outstanding	1.7B	1.7B	1.6B	1.6B	1.5B	1.5B	1.5B	1.5B	1.6B	1.6B	1.6B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	14.8	14.4	10.5	13.5	14.1	10.5	11.1	12.2	11.8	10.9	11.8
P/S	4.21	4.14	3.32	4.1	3.03	3.68	2.69	2.38	2.73	2.91	3.36
P/B	1.84	1.81	1.45	1.79	1.31	1.51	1.27	1.2	1.26	1.27	1.51
EV/Sales	2.53	2.34	1.85	0.48	-3.35	-1.58	0.36	-0.03	-0.1	0.48	4.72
Earnings yield	6.74%	6.96%	9.54%	7.41%	7.09%	9.55%	8.99%	8.17%	8.48%	9.14%	8.51%
FCF yield	6.05%	7.2%	14.1%	5.22%	5.29%	11.8%	32.5%	12.6%	15.1%	9.59%	7.86%
PEG	—	—	—	—	—	—	—	—	—	—	0.54

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	39.6%
Net margin	28.4%	28.8%	31.6%	30.4%	21.5%	35.1%	24.1%	19.5%	23.2%	26.6%	29.9%
ROE	12.4%	12.6%	13.8%	13.2%	9.28%	14.4%	11.4%	9.79%	10.7%	11.6%	12.6%
ROA	—	—	—	—	—	—	—	—	0.93%	1.1%	1.16%
Return on tangible assets	—	—	—	—	—	—	—	—	0.99%	1.16%	1.19%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	0.96	0.96	1.02	1.18	0.95	0.75	1.35	1.13	1.11	1.04	0.01
Debt / assets	—	—	—	—	—	—	—	—	0.1	0.1	0.13
Effective tax rate	26.7%	16.8%	17.9%	19.2%	17.6%	21.5%	20%	20.5%	20%	20.2%	19.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.2	12.9	13.8	14.5	15.4	15.3	16.2	18.2	17.5	18.3	17.6
EPS (basic)	3.25	3.53	4.15	4.16	3.06	5.11	3.69	3.27	3.79	4.62	4.62
EPS (diluted)	3.24	3.51	4.14	4.16	3.06	5.1	3.69	3.27	3.79	4.62	5.01
Book value per share	27.9	29.6	31.6	33.2	35.6	37.2	34.4	36.1	37.8	42.2	38.9
FCF per share	3.11	3.86	6.47	3.09	2.46	6.63	14.2	5.47	7.23	5.12	8.05
Cash per share	47.3	51.9	52.3	91.6	131.9	108.3	84.3	84.7	91.6	88.5	45.2

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	34.9%	35.4%	33.2%	39.5%	57.2%	36.2%	52.7%	60.7%	54.5%	46.1%	41.5%
Dividend yield	2.35%	2.46%	3.17%	2.93%	4.06%	3.45%	4.74%	4.96%	4.62%	4.22%	3.53%

Yield

3.53%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.52

ex-dividend Jun 30, 2026

Payout ratio

42%

of earnings

Dividend growth

15 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.52
Mar 31, 2026	$0.52
Dec 31, 2025	$0.52

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$7B	$6.7B	$6.7B	$6.8B	$6.8B	$7B	$6.9B	$7B	$7.3B	$7.3B	$7.3B	$7.7B
YoY change	+11.2%	+6.23%	-6.39%	-4.24%	-2.39%	+3.68%	+3.64%	+2%	+6.83%	+5.13%	+4.79%	+10.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	81.2B	87B	85.5B	144.7B	199B	161.3B	125.6B	130.6B	142.9B	137.7B
Receivables	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	-1.1B	-1.1B	-1B	189M	-51M	144M	562M	384M	444M	547M
Goodwill & intangibles	25.3B	25.3B	25.5B	25.8B	25.6B	28B	39.1B	37.1B	36.2B	35.1B
Total assets	—	—	—	—	—	—	—	—	678.3B	692.3B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	12.7B	15.6B	11.1B	21.7B	9.6B	9.6B	29.6B	11.5B	7.6B	7.6B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	33.3B	32.3B	41.3B	40.2B	41.3B	32.1B	39.8B	51.5B	58B	60.8B
Total liabilities	—	—	—	—	—	—	—	—	619.3B	626.7B
Shareholders' equity	47.9B	49.7B	51.7B	52.5B	53.7B	55.4B	51.2B	55.8B	59B	65.7B
Total debt	46B	47.9B	52.4B	61.9B	50.9B	41.7B	69.4B	62.9B	65.6B	68.4B
Net debt	30.3B	28.4B	31B	39.5B	-11.7B	12.8B	15.8B	1.7B	9.1B	21.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	131.3B	130.6B	149.1B	146B	155.7B	142.9B	136.4B	148.1B	155.7B	137.7B	141.9B	156.2B
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	384M	—	—	—	444M	—	—	—	547M	—	—
Goodwill & intangibles	37.8B	37.1B	37B	36.5B	36.1B	36.2B	35.9B	35.8B	35.6B	35.1B	34.8B	36.5B
Total assets	—	—	683.6B	680.1B	686.5B	678.3B	676.5B	686.4B	695.4B	692.3B	701B	725.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	21.9B	11.5B	17.1B	16.6B	23.7B	7.6B	17.2B	15B	15.4B	7.6B	17.9B	37.3B
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	43.1B	51.5B	52.7B	52.7B	54.8B	58B	59.9B	64B	62.5B	60.8B	61.4B	58.7B
Total liabilities	—	—	627.6B	623.2B	627.1B	619.3B	615.9B	624.5B	631.6B	626.7B	634.8B	658B
Shareholders' equity	53.6B	55.8B	56B	56.9B	59.3B	59B	60.6B	61.9B	63.8B	65.7B	66.2B	67.9B
Total debt	65B	62.9B	69.8B	69.3B	78.5B	65.6B	77B	79.1B	78B	68.4B	79.2B	96B
Net debt	620M	1.7B	-7.2B	3.4B	5B	9.1B	27B	21.2B	11.3B	21.5B	30.8B	29.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.9B	6.2B	7.1B	6.9B	5B	8B	5.8B	5.4B	6.3B	7.6B
Depreciation & amortization	470M	468M	467M	502M	527M	497M	560M	1B	939M	875M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—
Operating cash flow	5.6B	6.4B	10.1B	4.6B	2.4B	12.6B	18.9B	6B	9.1B	8B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-4.3B	-3.5B	-729M	-10B	-13.1B	-41.8B	32.3B	12.9B	-12.8B	-1.8B
Dividends paid	-2.1B	-2.2B	-2.4B	-2.7B	-2.9B	-2.9B	-3.1B	-3.3B	-3.4B	-3.5B
Share repurchases	-2.6B	-3.7B	-2.8B	-4.5B	-1.7B	-2.8B	-1.2B	-62M	-173M	-489M
Financing cash flow	-17B	-3.2B	2.1B	1.2B	-16B	-12.4B	13.2B	-7.4B	2.6B	-1.1B
Net change in cash	-15.7B	-359M	11.5B	-4.2B	-26.6B	-41.6B	64.4B	11.5B	-1.1B	5.1B
Free cash flow	5.3B	6.5B	10.6B	4.9B	3.7B	9.9B	21.1B	8.4B	11.3B	8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.5B	847M	1.3B	1.6B	1.7B	1.7B	1.7B	1.8B	2B	2B	1.9B	2.2B
Depreciation & amortization	256M	250M	236M	234M	231M	238M	215M	217M	216M	227M	204M	209M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	3.4B	-187M	2.2B	2.3B	253M	4.4B	-750M	1.6B	3.5B	2.8B	1.3B	4.8B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	2.1B	2B	-2.3B	-5.8B	2.4B	-7B	356M	-3.9B	3B	-1.3B	-2.3B	3.9B
Dividends paid	-813M	-854M	-846M	-871M	-844M	-887M	-859M	-880M	-853M	-910M	-884M	-904M
Share repurchases	-1M	-17M	-49M	-1M	-1M	-122M	-160M	-106M	-101M	-122M	-276M	-201M
Financing cash flow	-12.6B	668M	2.3B	-1.4B	7.8B	-6.1B	2.1B	966M	-2.2B	-1.9B	-397M	15.8B
Net change in cash	-7B	2.5B	2.2B	-4.9B	10.4B	-8.8B	1.7B	-1.3B	4.3B	-352M	-1.4B	24.5B
Free cash flow	3.9B	416M	2.7B	2.9B	972M	4.8B	-285M	2.1B	3.5B	2.8B	1.3B	4.8B

Date	Ratio
Feb 27, 2001	1265:1000
Apr 16, 1999	3:1
May 19, 1998	3:1
Jan 16, 1997	3:1
Apr 17, 1989	2:1
Apr 16, 1985	2:1
Jun 25, 1984	110:100
Feb 22, 1979	5:4

U.S. Bancorp Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history