The PNC Financial Services Group, Inc. (PNC) Income Statement Analysis

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Complete financial analysis of The PNC Financial Services Group, Inc. (PNC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of The PNC Financial Services Group, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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The PNC Financial Services Group, Inc. (PNC)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.pnc.com

About The PNC Financial Services Group, Inc.

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. This segment serves consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. Its Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services, and access to online/mobile information management and reporting; foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The company's Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services for ultra high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients. The company has 2,591 branches and 9,502 ATMs. The company was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	21.51B	21.11B	19.21B	16.90B	16.84B	16.19B	16.33B	15.16B	15.23B	15.28B	16.01B	15.51B	14.33B	15.02B	15.12B	6.18B	5.89B	6.49B	6.33B	5.54B	5.25B	5.39B	4.91B	5.11B	4.79B	4.57B	4.35B	3.88B	3.10B	2.73B	2.77B	2.54B	2.25B	2.01B	1.89B	0.00	0.00	0.00	0.00
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	21.51B	21.11B	19.21B	16.90B	16.84B	16.19B	16.33B	15.16B	15.23B	15.28B	16.01B	15.51B	14.33B	15.02B	15.12B	6.18B	5.89B	6.49B	6.33B	5.54B	5.25B	5.39B	4.91B	5.11B	4.79B	4.57B	4.35B	3.88B	3.10B	2.73B	2.77B	2.54B	2.25B	2.01B	1.89B	0.00	0.00	0.00	0.00
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	7.43B	7.24B	7.14B	5.67B	5.65B	5.47B	5.27B	4.87B	4.83B	4.61B	4.74B	4.62B	3.97B	3.91B	4.12B	1.77B	1.82B	2.43B	2.39B	2.06B	1.80B	1.70B	1.67B	1.62B	1.38B	1.27B	1.24B	1.14B	1.07B	835.70M	685.40M	668.40M	598.70M	564.90M	538.00M	0.00	0.00	0.00	0.00
Selling & Marketing	350.00M	355.00M	319.00M	236.00M	301.00M	285.00M	244.00M	247.00M	249.00M	253.00M	246.00M	279.00M	249.00M	266.00M	233.00M	123.00M	113.00M	104.00M	106.00M	87.00M	64.00M	51.00M	57.00M	70.00M	70.00M	92.00M	70.00M	63.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	7.78B	7.60B	7.46B	5.91B	5.95B	5.76B	5.51B	5.12B	5.08B	4.86B	4.99B	4.90B	4.22B	4.17B	4.35B	1.89B	1.93B	2.54B	2.50B	2.15B	1.87B	1.75B	1.72B	1.69B	1.45B	1.36B	1.31B	1.20B	1.07B	835.70M	685.40M	668.40M	598.70M	564.90M	538.00M	0.00	0.00	0.00	0.00
Other Expenses	13.73B	13.52B	11.75B	10.99B	10.89B	10.43B	10.82B	10.04B	10.15B	10.42B	11.02B	10.62B	10.11B	10.84B	10.77B	4.29B	3.96B	3.96B	3.83B	3.39B	3.39B	3.64B	3.19B	3.43B	3.34B	3.21B	3.04B	2.68B	2.04B	1.90B	2.09B	1.88B	1.65B	1.44B	1.35B	442.70M	255.70M	237.40M	187.80M
Operating Expenses	21.51B	21.11B	19.21B	16.90B	16.84B	16.19B	16.33B	15.16B	15.23B	15.28B	16.01B	15.51B	14.33B	15.02B	15.12B	6.18B	5.89B	6.49B	6.33B	5.54B	5.25B	5.39B	4.91B	5.11B	4.79B	4.57B	4.35B	3.88B	3.10B	2.73B	2.77B	2.54B	2.25B	2.01B	1.89B	442.70M	255.70M	237.40M	187.80M
Cost & Expenses	21.51B	21.11B	19.21B	16.90B	16.84B	16.19B	16.33B	15.16B	15.23B	15.28B	16.01B	15.51B	14.33B	15.02B	15.12B	6.18B	5.89B	6.49B	6.33B	5.54B	5.25B	5.39B	4.91B	5.11B	4.79B	4.57B	4.35B	3.88B	3.10B	2.73B	2.77B	2.54B	2.25B	2.01B	1.89B	442.70M	255.70M	237.40M	187.80M
Interest Income	24.31B	15.44B	11.13B	11.31B	13.76B	12.58B	10.81B	9.65B	9.32B	9.43B	10.01B	10.73B	10.19B	11.15B	12.09B	6.31B	6.17B	4.61B	3.73B	2.75B	2.71B	3.17B	4.14B	4.73B	4.92B	5.31B	5.05B	4.94B	5.15B	3.86B	3.20B	3.22B	3.66B	4.22B	4.06B	0.00	0.00	0.00	0.00
Interest Expense	10.39B	2.42B	487.00M	1.36B	3.80B	2.86B	1.71B	1.26B	1.05B	906.00M	860.00M	1.09B	1.49B	1.92B	3.00B	2.49B	3.25B	2.37B	1.58B	783.00M	716.00M	975.00M	1.88B	2.57B	2.49B	2.74B	2.56B	2.49B	3.01B	1.95B	1.37B	1.56B	2.22B	2.87B	2.76B	0.00	0.00	0.00	0.00
Depreciation & Amortization	1.04B	651.00M	1.77B	1.50B	1.32B	1.13B	1.12B	1.19B	1.09B	988.00M	1.15B	1.16B	1.14B	1.06B	978.00M	325.00M	332.00M	345.00M	375.00M	302.00M	289.00M	242.00M	260.00M	340.00M	327.00M	632.00M	346.00M	290.00M	296.00M	246.00M	148.00M	137.00M	71.50M	85.80M	70.50M	0.00	0.00	0.00	0.00
EBITDA	7.77B	8.12B	8.76B	4.93B	7.80B	7.56B	6.61B	6.45B	6.60B	6.60B	6.83B	5.10B	5.21B	5.12B	4.20B	1.70B	2.45B	4.35B	2.34B	2.13B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	442.70M	255.70M	237.40M	187.80M
EBITDA Ratio	37.47%	48.16%	45.52%	55.85%	43.45%	60.55%	50.60%	50.29%	49.94%	48.68%	47.26%	40.02%	46.68%	49.47%	45.85%	57.85%	83.09%	102.52%	61.49%	50.98%	48.45%	56.03%	56.07%	95.37%	90.88%	97.81%	105.04%	112.29%	126.70%	113.48%	94.34%	93.33%	126.47%	149.03%	175.66%	0.00%	0.00%	0.00%	0.00%
Operating Income	10.58B	10.66B	10.18B	5.82B	8.07B	8.11B	8.44B	7.77B	8.12B	8.55B	8.78B	4.06B	12.68B	13.51B	14.59B	6.34B	5.35B	6.33B	3.51B	1.20B	1.03B	2.78B	2.43B	4.48B	4.38B	4.45B	4.17B	4.02B	3.63B	2.85B	2.47B	2.24B	2.77B	2.90B	3.24B	442.70M	255.70M	237.40M	187.80M
Operating Income Ratio	50.98%	45.07%	36.25%	47.00%	36.07%	53.96%	86.67%	86.27%	86.76%	87.35%	88.50%	88.13%	88.50%	89.98%	91.67%	90.35%	78.23%	97.22%	55.56%	21.64%	19.59%	51.54%	50.66%	88.64%	84.57%	85.64%	97.00%	104.74%	117.16%	104.48%	89.01%	87.94%	123.29%	144.76%	171.92%	0.00%	0.00%	0.00%	0.00%
Total Other Income/Expenses	-3.84B	-3.18B	-3.19B	-2.39B	-2.58B	-2.62B	-2.95B	-2.52B	-2.62B	-2.93B	-3.10B	-24.00M	-152.00M	-165.00M	113.00M	-5.10B	-3.25B	-345.00M	-175.00M	548.00M	-28.00M	-959.00M	-1.87B	-2.63B	-2.49B	-2.74B	-2.56B	-2.49B	-3.01B	-1.95B	-1.35B	-1.46B	-2.22B	-2.87B	-2.76B	0.00	0.00	0.00	0.00
Income Before Tax	6.74B	7.47B	6.99B	3.43B	5.49B	5.49B	5.49B	5.25B	5.51B	5.61B	5.69B	4.04B	4.07B	4.06B	3.23B	1.09B	1.92B	4.01B	2.00B	1.78B	1.57B	1.82B	564.00M	1.85B	1.79B	1.65B	1.62B	1.53B	627.10M	902.40M	1.12B	778.10M	548.20M	29.40M	485.20M	0.00	0.00	0.00	0.00
Income Before Tax Ratio	32.47%	35.39%	36.52%	20.29%	36.35%	37.52%	33.62%	34.65%	36.17%	36.51%	34.77%	25.42%	28.40%	27.04%	20.27%	17.72%	30.65%	61.56%	30.54%	31.36%	29.85%	33.76%	11.74%	36.56%	36.52%	32.91%	37.60%	39.78%	20.21%	33.03%	40.25%	30.58%	24.39%	1.47%	25.72%	0.00%	0.00%	0.00%	0.00%
Income Tax Expense	1.09B	1.36B	1.26B	426.00M	901.00M	928.00M	102.00M	1.27B	1.36B	1.41B	1.48B	1.05B	998.00M	1.04B	867.00M	298.00M	561.00M	1.36B	604.00M	538.00M	539.00M	621.00M	187.00M	634.00M	586.00M	571.00M	566.00M	535.00M	219.00M	292.30M	371.30M	248.70M	158.40M	-41.50M	107.80M	-442.70M	-255.70M	-237.40M	-187.80M
Net Income	5.58B	6.04B	5.67B	7.52B	5.37B	5.30B	5.34B	3.90B	4.11B	4.18B	4.20B	3.00B	3.06B	3.41B	2.45B	882.00M	1.47B	2.60B	1.33B	1.20B	1.00B	1.18B	372.00M	1.28B	1.26B	1.12B	1.05B	992.00M	408.10M	610.10M	725.90M	426.90M	389.80M	70.90M	377.40M	442.70M	255.70M	237.40M	187.80M
Net Income Ratio	26.88%	28.61%	29.65%	17.77%	30.12%	30.94%	32.69%	25.74%	26.97%	27.21%	26.24%	19.35%	21.33%	22.72%	15.38%	12.57%	21.47%	39.89%	20.98%	21.64%	19.06%	21.95%	7.74%	25.30%	24.41%	21.46%	24.45%	25.84%	13.15%	22.33%	26.17%	16.78%	17.35%	3.53%	20.00%	0.00%	0.00%	0.00%	0.00%
EPS	12.78	13.85	12.70	7.03	11.43	11.35	10.49	7.42	7.52	7.44	7.48	5.36	5.70	5.80	4.40	2.50	4.43	8.89	4.63	4.25	3.58	4.18	1.27	4.35	4.19	3.64	3.33	2.90	1.19	2.57	2.65	1.90	1.98	0.37	1.99	2.58	1.54	1.47	2.01
EPS Diluted	12.78	13.85	12.70	7.03	11.38	11.28	10.36	7.30	7.39	7.30	7.39	5.30	5.64	5.74	4.36	2.46	4.35	8.73	4.55	4.21	3.55	4.15	1.26	4.31	4.15	3.60	3.28	2.87	1.19	2.56	2.60	1.89	1.95	0.37	1.96	2.51	1.50	1.47	1.88
Weighted Avg Shares Out	401.00M	412.00M	426.00M	427.00M	447.00M	467.00M	481.00M	494.00M	514.00M	529.00M	528.00M	526.00M	524.00M	517.00M	454.00M	344.00M	331.00M	292.00M	286.00M	281.00M	280.00M	283.00M	287.00M	290.00M	296.90M	300.80M	310.15M	340.25M	339.13M	236.61M	236.39M	223.05M	195.20M	182.16M	187.24M	171.37M	166.53M	161.72M	93.61M
Weighted Avg Shares Out (Dil)	401.00M	412.00M	426.00M	427.00M	448.00M	470.00M	486.00M	500.00M	521.00M	537.00M	532.00M	529.00M	526.00M	520.00M	455.00M	347.00M	335.00M	297.00M	290.00M	284.00M	281.00M	285.00M	290.00M	292.80M	300.00M	305.10M	316.22M	345.35M	344.92M	238.45M	238.42M	224.23M	198.21M	182.16M	190.10M	176.21M	169.93M	161.72M	99.78M

PNC Bank Increases Investment in New Branch Locations and Renovations

November 8, 2024pymnts.com

PNC Bank increased the number of new branch locations and renovations it plans to complete over the next five years. The bank plans to open 200 new branch locations in 12 cities and renovate 1,400 existing branches during that time,...

The PNC Financial Services Group, Inc. (PNC) BancAnalysts Association of Boston Conference Transcript

November 8, 2024seekingalpha.com

The PNC Financial Services Group, Inc. (NYSE:PNC ) BancAnalysts Association of Boston Conference November 8, 2024 8:15 AM ET Company Participants Dick Manuel - Columbia Threadneedle Investments, Equity Research Analyst Rob Reilly - Vice President & Chief Financial Officer Mike...