The PNC Financial Services Group, Inc. (PNC) Income Statement
PNC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPNC revenue and net income
Where PNC's revenue goes
2025Each bar shows an amount and its share of revenue. PNC kept 20.4% of revenue as net income.
PNC profit margins
PNC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.8% | +13.0% | +13.2% | +7.6% |
| Gross profit | +11.5% | +2.6% | +10.2% | +4.1% |
| Operating income | +17.2% | +4.3% | +19.9% | +4.4% |
| Net income | +17.8% | +4.7% | −1.6% | +5.4% |
| EPS (diluted) | +20.7% | +6.2% | −0.5% | +8.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PNC quarterly EPS vs estimates
PNC beat the analyst EPS estimate in 8 of the last 8 quarters.
PNC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.97B | $33.69B | $31.90B | $23.54B | $19.70B | $18.26B | $20.64B | $19.05B | $18.04B | $16.42B |
| Cost of revenue | $11.65B | $13.68B | $11.15B | $2.89B | −$292.0M | $4.54B | $4.57B | $3.27B | $2.15B | $1.69B |
| Gross profit | $22.32B | $20.01B | $20.75B | $20.64B | $19.99B | $13.73B | $16.07B | $15.78B | $15.89B | $14.73B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $8.16B | $7.66B | $7.78B | $7.60B | $7.46B | $5.91B | $5.95B | $5.76B | $5.51B | $5.12B |
| Total operating expenses | $13.83B | $12.77B | $14.01B | $13.17B | $13.00B | $10.30B | $10.57B | $10.30B | $10.40B | $9.48B |
| Operating income | $8.49B | $7.24B | $6.74B | $7.47B | $6.99B | $3.43B | $5.49B | $5.49B | $5.49B | $5.25B |
| Interest income | $25.31B | $26.38B | $22.91B | $15.44B | $11.13B | $11.31B | $13.76B | $12.58B | $10.81B | $9.65B |
| Interest expense | $10.90B | $12.88B | $10.39B | $2.42B | $487.0M | $1.36B | $3.80B | $2.86B | $1.71B | $1.26B |
| Income before taxes | $8.49B | $7.24B | $6.74B | $7.47B | $6.99B | $3.43B | $5.49B | $5.49B | $5.49B | $5.25B |
| Income taxes | $1.49B | $1.29B | $1.09B | $1.36B | $1.26B | $426.0M | $901.0M | $928.0M | $102.0M | $1.27B |
| Net income | $6.94B | $5.89B | $5.58B | $6.04B | $5.67B | $7.52B | $5.37B | $5.30B | $5.34B | $3.90B |
| EBITDA | $8.87B | $7.50B | $6.95B | $8.12B | $8.76B | $4.93B | $6.81B | $6.62B | $6.61B | $6.45B |
| EPS (diluted) | $16.59 | $13.75 | $12.79 | $13.87 | $12.69 | $17.00 | $11.40 | $10.72 | $10.40 | $7.31 |
| Gross margin | 65.7% | 59.4% | 65.0% | 87.7% | 101.5% | 75.2% | 77.9% | 82.8% | 88.1% | 89.7% |
| Operating margin | 25.0% | 21.5% | 21.1% | 31.8% | 35.5% | 18.8% | 26.6% | 28.8% | 30.4% | 32.0% |
| Net margin | 20.4% | 17.5% | 17.5% | 25.7% | 28.8% | 41.2% | 26.0% | 27.8% | 29.6% | 23.8% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.36B | $9.02B | $8.64B | $8.72B | $8.78B | $8.38B | $8.10B | $8.53B | $8.84B | $7.94B | $8.38B | $8.47B |
| Cost of revenue | $2.99B | $2.78B | $2.69B | $2.79B | $3.03B | $2.97B | $2.87B | $3.12B | $3.65B | $3.52B | $3.39B | $3.34B |
| Gross profit | $6.37B | $6.24B | $5.96B | $5.93B | $5.75B | $5.41B | $5.23B | $5.41B | $5.19B | $4.42B | $4.99B | $5.13B |
| Sales, general & admin | $2.83B | $2.38B | $2.19B | $2.13B | $2.06B | $1.99B | $1.98B | $1.97B | $1.96B | $1.88B | $1.86B | $2.06B |
| Total operating expenses | $3.75B | $3.65B | $3.77B | $3.60B | $3.46B | $3.38B | $3.39B | $3.51B | $3.33B | $2.60B | $3.33B | $4.07B |
| Operating income | $2.62B | $2.59B | $2.19B | $2.33B | $2.29B | $2.02B | $1.85B | $1.91B | $1.86B | $1.82B | $1.66B | $1.05B |
| Interest income | — | $6.69B | $6.44B | $6.38B | $6.53B | $6.27B | $6.13B | $6.49B | $6.82B | $6.57B | $6.50B | $6.50B |
| Interest expense | $2.80B | $2.59B | $2.48B | $2.65B | $2.88B | $2.71B | $2.65B | $2.97B | $3.41B | $3.27B | $3.24B | $3.10B |
| Income before taxes | $2.62B | $2.59B | $2.19B | $2.33B | $2.29B | $2.02B | $1.85B | $1.91B | $1.86B | $1.82B | $1.66B | $1.05B |
| Income taxes | $525.0M | $531.0M | $415.0M | $296.0M | $465.0M | $381.0M | $347.0M | $278.0M | $357.0M | $342.0M | $312.0M | $172.0M |
| Net income | $2.08B | $2.04B | $1.76B | $2.02B | $1.81B | $1.63B | $1.48B | $1.61B | $1.49B | $1.46B | $1.33B | $864.0M |
| EBITDA | $5.42B | $2.69B | $2.25B | $2.44B | $2.39B | $2.11B | $1.94B | $2.07B | $1.88B | $1.86B | $1.69B | $1.10B |
| EPS (diluted) | $5.09 | $4.85 | $4.13 | $4.88 | $4.35 | $3.85 | $3.51 | $3.77 | $3.49 | $3.39 | $3.10 | $1.85 |
| Gross margin | 68.1% | 69.2% | 68.9% | 68.1% | 65.5% | 64.5% | 64.6% | 63.4% | 58.7% | 55.7% | 59.5% | 60.5% |
| Operating margin | 28.0% | 28.7% | 25.3% | 26.7% | 26.1% | 24.2% | 22.8% | 22.3% | 21.1% | 22.9% | 19.8% | 12.5% |
| Net margin | 22.2% | 22.6% | 20.4% | 23.2% | 20.6% | 19.4% | 18.3% | 18.9% | 16.8% | 18.4% | 15.9% | 10.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PNC's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PNC financial results
In fiscal year 2025 (ended December 31, 2025), PNC reported revenue of $34.0 billion, up 0.8% from the year before. It had net income of $6.9 billion (up 17.8%), a net profit margin of 20.4%. Diluted earnings per share came to $16.59. Over five years revenue grew at an average rate of 13.2% a year.
See the PNC stock overview for the latest quote and news, or the PNC chart for price history and technical indicators.
PNC income statement FAQ
What is PNC's annual revenue?
PNC reported total revenue of $34.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 0.8% from $33.7 billion the previous year.
Is PNC profitable?
Yes. PNC reported net income of $6.9 billion in fiscal 2025, a net profit margin of 20.4%; its operating margin was 25.0%.
What is PNC's gross margin?
PNC's gross margin was 65.7% in fiscal 2025: for every $100 of revenue, PNC kept $66 after the direct cost of its products and services.
How fast is PNC growing?
Revenue grew 13.2% a year on average over the last five fiscal years, from $18.3 billion to $34.0 billion.
What are PNC's earnings per share?
PNC earned $16.59 per diluted share in fiscal 2025, compared with $13.75 a year earlier.
When does PNC's fiscal year end?
PNC's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.