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U.S. Bancorp — Financial statements
Financials · Banks - Regional · United States
Last price 60.64 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 94.49B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 22.93B | 22.53B | 23.18B | 22.47B | 13.80B | 10.98B |
| Interest Income on Investments | 7.89B | 8.44B | 8.48B | 7.54B | 4.14B | 2.51B |
| Total Interest Income | 30.83B | 30.97B | 31.67B | 30.01B | 17.95B | 13.49B |
| Interest Paid on Deposits | 9.56B | 10.15B | 11.69B | 8.78B | 1.87B | 320.00M |
| Interest Paid on Borrowings | 3.90B | 4.17B | 3.69B | 3.84B | 1.34B | 673.00M |
| Total Interest Expense | 13.45B | 14.32B | 15.38B | 12.61B | 3.22B | 993.00M |
| Net Interest Income | 17.38B | 16.65B | 16.29B | 17.40B | 14.73B | 12.49B |
| Trust Income | 3.09B | 2.87B | 2.66B | 2.46B | 2.21B | 1.83B |
| Mortgage Banking Activities | 615.00M | 645.00M | 627.00M | 540.00M | 527.00M | 1.36B |
| Gain (Loss) on Sale of Investments | -146.00M | -61.00M | -154.00M | -145.00M | 20.00M | 103.00M |
| Other Non-Interest Income | 6.20B | 5.40B | 4.98B | 4.83B | 3.89B | 4.09B |
| Total Non-Interest Income | 12.86B | 11.89B | 11.05B | 10.62B | 9.46B | 10.23B |
| Revenues Before Loan Losses | 30.23B | 28.54B | 27.34B | 28.01B | 24.18B | 22.72B |
| Provision for Loan Losses | 2.35B | 2.19B | 2.24B | 2.27B | 1.98B | -1.17B |
| Revenue | 27.89B | 26.35B | 25.10B | 25.74B | 22.21B | 23.89B |
| Salaries and Employee Benefits | 10.36B | 10.09B | 10.32B | 10.19B | 8.96B | 8.52B |
| Occupancy Expenses | 790.00M | 781.00M | 717.00M | 770.00M | 706.00M | 684.00M |
| Amortization of Goodwill & Intangibles | 477.00M | 498.00M | 569.00M | 636.00M | 215.00M | 159.00M |
| Selling, General & Administrative | 4.39B | 4.07B | 3.94B | 4.05B | 3.30B | 3.16B |
| Other Non-Interest Expense | 1.40B | 1.40B | 1.48B | 2.21B | 1.40B | 1.21B |
| Total Non-Interest Expense | 17.41B | 16.84B | 17.03B | 17.86B | 14.58B | 13.73B |
| EBT Excluding Unusual Items | 10.47B | 9.52B | 8.06B | 7.87B | 7.63B | 10.17B |
| Pretax Income | 10.47B | 9.52B | 7.91B | 6.87B | 7.30B | 10.17B |
| Income Tax Expense | 2.08B | 1.92B | 1.58B | 1.41B | 1.46B | 2.18B |
| Earnings From Continuing Operations | 8.39B | 7.60B | 6.33B | 5.46B | 5.84B | 7.99B |
| Minority Interest in Earnings | -23.00M | -26.00M | -30.00M | -29.00M | -13.00M | -22.00M |
| Net Income | 8.37B | 7.57B | 6.30B | 5.43B | 5.83B | 7.96B |
| Preferred Dividends & Other Adjustments | 370.00M | 376.00M | 390.00M | 378.00M | 324.00M | 358.00M |
| Net Income to Common | 8.00B | 7.19B | 5.91B | 5.05B | 5.50B | 7.61B |
| Basic Shares Outstanding | 1.55B | 1.56B | 1.56B | 1.54B | 1.49B | 1.49B |
| Diluted Shares Outstanding | 1.56B | 1.56B | 1.56B | 1.54B | 1.49B | 1.49B |
| EPS (Basic) | 5.14 | 4.62 | 3.79 | 3.27 | 3.69 | 5.11 |
| EPS (Diluted) | 5.14 | 4.62 | 3.79 | 3.27 | 3.69 | 5.10 |
| Dividend Per Share | 2.10 | 2.04 | 1.98 | 1.93 | 1.88 | 1.76 |
| Effective Tax Rate | 19.87% | 20.18% | 19.98% | 20.50% | 20.04% | 21.45% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 49.52B | 46.84B | 56.45B | 61.14B | 53.50B | 28.83B |
| Investment Securities | 80.23B | 56.04B | 55.27B | 44.51B | 43.46B | 51.92B |
| Trading Asset Securities | 3.70B | 3.46B | 2.87B | 2.44B | 2.28B | |
| Mortgage-Backed Securities | 72.92B | 120.99B | 117.73B | 116.12B | 123.82B | 127.42B |
| Total Investments | 153.15B | 180.73B | 176.46B | 163.49B | 169.72B | 181.62B |
| Gross Loans | 415.25B | 391.33B | 379.83B | 373.83B | 388.21B | 312.03B |
| Allowance for Loan Losses | -7.82B | -7.61B | -7.58B | -7.38B | -6.94B | -5.72B |
| Net Loans | 407.43B | 383.73B | 372.25B | 366.46B | 381.28B | 306.30B |
| Property, Plant & Equipment | 3.89B | 3.77B | 3.56B | 3.62B | 3.86B | 3.31B |
| Goodwill | 13.23B | 12.63B | 12.54B | 12.49B | 12.37B | 10.26B |
| Other Intangible Assets | 1.71B | 1.75B | 2.18B | 2.71B | 3.40B | 785.00M |
| Loans Held for Sale | 2.43B | 2.54B | 2.57B | 2.20B | 2.20B | 7.78B |
| Restricted Cash | 51.00M | 53.00M | 53.00M | 45.00M | 78.00M | |
| Other Current Assets | 2.58B | 7.50B | 3.55B | 702.00M | 1.19B | |
| Other Real Estate Owned & Foreclosed | 40.00M | 43.00M | 39.00M | 45.00M | 44.00M | 44.00M |
| Other Long-Term Assets | 71.56B | 57.68B | 44.72B | 47.74B | 47.69B | 33.09B |
| Total Assets | 702.97B | 692.35B | 678.32B | 663.49B | 674.80B | 573.28B |
| Interest Bearing Deposits | 446.11B | 424.71B | 419.60B | 406.99B | 375.23B | 318.44B |
| Institutional Deposits | 13.38B | 14.55B | 15.34B | 12.00B | 2.74B | |
| Non-Interest Bearing Deposits | 85.60B | 84.12B | 84.16B | 89.99B | 137.74B | 134.90B |
| Total Deposits | 531.71B | 522.22B | 518.31B | 512.31B | 524.98B | 456.08B |
| Short-Term Borrowings | 21.04B | 20.56B | 20.73B | 19.87B | 37.36B | 13.11B |
| Current Portion of Long-Term Debt | 15.40B | 1.00B | 1.30B | |||
| Current Portion of Leases | 369.00M | |||||
| Long-Term Debt | 52.00B | 30.19B | 42.45B | 38.43B | 34.78B | 27.55B |
| Federal Home Loan Bank Debt, Long-Term | 15.05B | 15.55B | 12.05B | 5.05B | 3.27B | |
| Long-Term Leases | 1.18B | 1.30B | ||||
| Other Long-Term Liabilities | 31.33B | 21.73B | 22.24B | 24.06B | 21.40B | 15.28B |
| Total Liabilities | 636.08B | 626.69B | 619.28B | 607.72B | 623.57B | 517.90B |
| Preferred Stock, Redeemable | 6.81B | 6.81B | 6.81B | 6.81B | 6.81B | 6.37B |
| Common Stock | 21.00M | 21.00M | 21.00M | 21.00M | 21.00M | 21.00M |
| Additional Paid-In Capital | 8.84B | 8.73B | 8.71B | 8.67B | 8.71B | 8.54B |
| Retained Earnings | 84.50B | 80.91B | 76.86B | 74.03B | 71.90B | 69.20B |
| Treasury Stock | -24.28B | -24.28B | -24.07B | -24.13B | -25.27B | -27.27B |
| Comprehensive Income & Other | -9.46B | -6.99B | -9.76B | -10.10B | -11.41B | -1.94B |
| Total Common Equity | 59.62B | 58.38B | 51.77B | 48.50B | 43.96B | 48.55B |
| Minority Interest | 463.00M | 458.00M | 462.00M | 465.00M | 466.00M | 469.00M |
| Shareholders' Equity | 66.89B | 65.65B | 59.04B | 55.77B | 51.23B | 55.39B |
| Total Liabilities & Equity | 702.97B | 692.35B | 678.32B | 663.49B | 674.80B | 573.28B |
| Total Debt | 73.04B | 82.75B | 78.73B | 71.35B | 77.19B | 46.53B |
| Net Cash (Debt) | -23.52B | -32.20B | -18.82B | -7.34B | -21.25B | -15.43B |
| Net Cash Per Share | -15.12 | -20.67 | -12.06 | -4.76 | -14.26 | -10.35 |
| Filing Date Shares Outstanding | 1.56B | 1.55B | 1.56B | 1.56B | 1.53B | 1.48B |
| Total Common Shares Outstanding | 1.56B | 1.56B | 1.56B | 1.56B | 1.53B | 1.48B |
| Book Value Per Share | 38.27 | 37.54 | 33.19 | 31.13 | 28.71 | 32.72 |
| Tangible Book Value | 44.67B | 44.01B | 37.06B | 33.30B | 28.18B | 37.50B |
| Tangible Book Value Per Share | 28.67 | 28.29 | 23.76 | 21.37 | 18.41 | 25.28 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 7.57B | 6.30B | 5.43B | 5.83B | 7.96B | |
| Depreciation & Amortization | 875.00M | 939.00M | 1.02B | 560.00M | 497.00M | |
| Gain (Loss) on Sale of Investments | 1.00M | 123.00M | 119.00M | -188.00M | -398.00M | |
| Provision for Credit Losses | 2.19B | 2.24B | 2.27B | 1.98B | -1.17B | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -97.00M | -217.00M | -250.00M | 5.77B | 1.69B | |
| Other Operating Activities | -2.31B | 2.15B | -205.00M | 6.79B | 2.43B | |
| Operating Cash Flow | 7.97B | 11.35B | 8.39B | 21.12B | 9.87B | |
| Cash Acquisitions | -36.00M | -103.00M | -330.00M | 12.26B | -661.00M | |
| Investment in Securities | -4.76B | -14.70B | 12.01B | 25.65B | -41.75B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -12.78B | -7.90B | 8.43B | -25.01B | -15.74B | |
| Other Investing Activities | -2.96B | -1.83B | -1.18B | -5.39B | 664.00M | |
| Investing Cash Flow | -20.54B | -24.53B | 18.93B | 7.50B | -57.49B | |
| Short-Term Debt Issued | 1.64B | 239.00M | 15.21B | 30.00M | ||
| Long-Term Debt Issued | 10.36B | 12.02B | 15.58B | 8.73B | 2.63B | |
| Total Debt Issued | 12.00B | 12.26B | 15.58B | 23.95B | 2.66B | |
| Short-Term Debt Repaid | -16.51B | |||||
| Long-Term Debt Repaid | -9.05B | -6.04B | -4.08B | -6.93B | -11.43B | |
| Total Debt Repaid | -9.05B | -6.04B | -20.59B | -6.93B | -11.43B | |
| Net Debt Issued (Repaid) | 2.95B | 6.21B | -5.01B | 17.02B | -8.78B | |
| Issuance of Common Stock | 45.00M | 32.00M | 951.00M | 21.00M | 43.00M | |
| Repurchase of Common Stock | -489.00M | -173.00M | -62.00M | -69.00M | -1.55B | |
| Preferred Stock Issued | 437.00M | 2.22B | ||||
| Preferred Share Repurchases | -1.10B | -1.25B | ||||
| Common Dividends Paid | -3.17B | -3.09B | -2.97B | -2.78B | -2.58B | |
| Preferred Dividends Paid | -334.00M | -356.00M | -341.00M | -299.00M | -308.00M | |
| Total Dividends Paid | -3.50B | -3.45B | -3.31B | -3.08B | -2.89B | |
| Net Increase (Decrease) in Deposit Accounts | 3.33B | 6.25B | -12.57B | -17.21B | 26.31B | |
| Other Financing Activities | -86.00M | -55.00M | -167.00M | |||
| Financing Cash Flow | 2.25B | 8.82B | -20.00B | -3.98B | 13.94B | |
| Foreign Exchange Rate Adjustments | 706.00M | -327.00M | 330.00M | |||
| Net Cash Flow | -9.61B | -4.69B | 7.65B | 24.64B | -33.67B | |
| Cash Interest Paid | 14.39B | 15.38B | 12.28B | 2.72B | 1.06B | |
| Cash Income Tax Paid | 544.00M | 499.00M | 645.00M | 767.00M | 535.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 92.63B | 82.94B | 74.62B | 67.39B | 66.73B | 83.29B |
| Last Close Price | 59.45 | 51.88 | 44.54 | 38.52 | 36.76 | 45.45 |
| PE Ratio | 11.56 | 11.53 | 12.63 | 13.34 | 12.13 | 10.95 |
| PS Ratio | 3.32 | 3.15 | 2.97 | 2.62 | 3.00 | 3.49 |
| PB Ratio | 1.55 | 1.26 | 1.26 | 1.21 | 1.30 | 1.50 |
| P/OCF Ratio | 7.40 | 10.41 | 6.57 | 8.03 | 3.16 | 8.44 |
| Debt / Equity Ratio | 1.09 | 1.26 | 1.33 | 1.28 | 1.51 | 0.84 |
| Net Debt / Equity Ratio | 0.35 | 0.49 | 0.32 | 0.13 | 0.41 | 0.28 |
| Return on Equity (ROE) | 12.84% | 12.18% | 11.03% | 10.20% | 10.95% | 14.64% |
| Return on Assets (ROA) | 1.20% | 1.11% | 0.94% | 0.82% | 0.94% | 1.42% |
| Earnings Yield | 8.65% | 9.13% | 8.44% | 8.06% | 8.73% | 9.56% |
| Dividend Yield | 3.63% | 3.82% | 4.14% | 4.46% | 4.31% | 3.14% |
| Payout Ratio | 41.98% | 46.26% | 54.74% | 60.99% | 52.79% | 36.25% |
| Buyback Yield / Dilution | 0.24% | 0.19% | -1.17% | -3.56% | 1.32% | |
| Total Shareholder Return | 3.87% | 4.02% | 2.97% | 0.91% | 4.31% | 4.46% |