The PNC Financial Services Group, Inc. (PNC) Key Metrics
PNC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $86.73B
- Enterprise value
- $159.65B
- P/E (TTM)
- 11.6 10-yr median 12.5
- Forward P/E
- 10.7
- PEG ratio
- 1.57
- Price / sales
- 3.5 10-yr median 3.2
- Price / book
- 1.4 10-yr median 1.4
- EV / EBITDA
- — 10-yr median 5.7
- Dividend yield
- 3.68% $8.00 a year
- Beta
- 0.93
PNC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPNC valuation Price multiples at each fiscal year-end price.
PNC returns How much profit the business earns on the capital it uses.
PNC per-share figures Results divided by the shares outstanding at year-end.
PNC financial health Debt, liquidity and how easily interest is covered.
PNC efficiency & capital use Working capital cycle and where the cash goes.
PNC valuation history
PNC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PNC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PNC cash returned to shareholders
PNC price vs earnings per share
PNC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $82.24B | $77.14B | $62.09B | $65.07B | $85.42B | $63.62B | $71.51B | $54.95B | $70.12B | $58.48B |
| Enterprise value | $88.95B | $83.18B | $42.32B | $45.26B | −$88.59B | −$72.61B | $34.46B | $32.76B | $38.05B | $20.79B |
| P/E ratio | 11.9 | 13.1 | 11.1 | 10.8 | 15.1 | 8.5 | 13.3 | 10.4 | 13.1 | 15.0 |
| Price / sales | 2.4 | 2.3 | 1.9 | 2.8 | 4.3 | 3.5 | 3.5 | 2.9 | 3.9 | 3.6 |
| Price / book | 1.4 | 1.4 | 1.2 | 1.4 | 1.5 | 1.2 | 1.5 | 1.2 | 1.5 | 1.3 |
| Price / free cash flow | 18.8 | 9.8 | 6.1 | 7.2 | 1.8 | — | — | 7.0 | 12.6 | 16.7 |
| Price / operating cash flow | 18.8 | 9.8 | 6.1 | 7.2 | 11.8 | 13.7 | 9.7 | 7.0 | 12.6 | 16.7 |
| EV / sales | 2.6 | 2.5 | 1.3 | 1.9 | -4.5 | -4.0 | 1.7 | 1.7 | 2.1 | 1.3 |
| EV / EBITDA | 10.0 | 11.1 | 6.1 | 5.6 | — | — | 5.1 | 5.0 | 5.8 | 3.2 |
| EV / free cash flow | 20.3 | 10.6 | 4.2 | 5.0 | — | — | — | 4.2 | 6.8 | 5.9 |
| Earnings yield | 8.4% | 7.6% | 9.0% | 9.3% | 6.6% | 11.8% | 7.5% | 9.6% | 7.6% | 6.7% |
| Free cash flow yield | 5.3% | 10.2% | 16.3% | 14.0% | 55.0% | −92.5% | −20.4% | 14.3% | 8.0% | 6.0% |
| Dividend yield | 3.6% | 3.7% | 4.6% | 4.1% | 2.7% | 3.5% | 3.0% | 3.3% | 2.1% | 2.2% |
| Shareholder yield (dividends + buybacks) | 5.2% | 5.3% | 7.3% | 12.2% | 3.9% | 6.8% | 8.0% | 8.6% | 5.6% | 5.7% |
| Share price at fiscal year-end | $208.73 | $192.85 | $154.85 | $157.94 | $200.52 | $149.00 | $159.63 | $116.91 | $144.29 | $116.96 |
| Per share | ||||||||||
| Revenue per share | $86.23 | $84.23 | $79.55 | $57.13 | $46.24 | $42.77 | $46.06 | $40.53 | $37.11 | $32.85 |
| Earnings per share | $17.60 | $14.72 | $13.91 | $14.66 | $13.32 | $17.60 | $11.98 | $11.28 | $10.98 | $7.81 |
| Operating cash flow per share | $11.13 | $19.70 | $25.21 | $22.05 | $16.93 | $10.91 | $16.44 | $16.68 | $11.48 | $7.00 |
| Free cash flow per share | $11.13 | $19.70 | $25.21 | $22.05 | $110.31 | −$137.77 | −$32.55 | $16.68 | $11.48 | $7.00 |
| Cash per share | $127.88 | $139.09 | $230.70 | $190.59 | $501.85 | $420.49 | $217.94 | $169.98 | $188.19 | $181.39 |
| Book value per share | $153.77 | $136.06 | $127.44 | $111.10 | $130.81 | $126.56 | $110.08 | $101.55 | $97.76 | $91.40 |
| Tangible book value per share | $116.67 | $99.45 | $90.99 | $76.13 | $100.92 | $102.03 | $85.80 | $77.72 | $75.12 | $69.68 |
| Dividends per share | $7.47 | $7.22 | $7.18 | $6.53 | $5.37 | $5.17 | $4.76 | $3.91 | $3.09 | $2.54 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.12 | $93.38 | $148.68 | $48.99 | $0.00 | $25.62 | $0.00 |
| Debt per share | $144.93 | $154.18 | $181.39 | $142.51 | $93.38 | $101.44 | $135.23 | $122.77 | $122.19 | $106.01 |
| Shares outstanding | 394.0M | 400.0M | 401.0M | 412.0M | 426.0M | 427.0M | 448.0M | 470.0M | 486.0M | 500.0M |
| Change in shares outstanding | −1.5% | −0.2% | −2.7% | −3.3% | −0.2% | −4.7% | −4.7% | −3.3% | −2.8% | −4.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.1% | 11.2% | 11.5% | 11.9% | 10.3% | 14.5% | 11.1% | 11.1% | 11.5% | 8.6% |
| Return on invested capital (ROIC) | 11.0% | 13.0% | 19.7% | — | — | — | 24.3% | 22.2% | 46.0% | 42.1% |
| Return on assets (ROA) | 1.2% | 1.1% | 1.0% | 1.1% | 1.1% | 1.7% | 1.4% | 1.4% | 1.4% | 1.1% |
| Return on tangible assets | 1.2% | 1.1% | 1.0% | 1.1% | 1.0% | 1.6% | 1.3% | 1.4% | 1.4% | 1.1% |
| Free cash flow margin | 12.9% | 23.4% | 31.7% | 38.6% | 238.6% | −322.1% | −70.7% | 41.2% | 30.9% | 21.3% |
| Income quality (OCF / net income) | 0.63 | 1.34 | 1.81 | 1.50 | 1.27 | 0.62 | 1.37 | 1.48 | 1.05 | 0.90 |
| Financial health | ||||||||||
| Total debt | $57.10B | $61.67B | $72.74B | $58.71B | $39.78B | $43.32B | $60.58B | $57.70B | $59.38B | $53.01B |
| Cash & short-term investments | $50.39B | $55.64B | $92.51B | $78.52B | $213.79B | $179.55B | $97.64B | $79.89B | $91.46B | $90.69B |
| Net debt | $6.71B | $6.04B | −$19.77B | −$19.81B | −$174.01B | −$136.23B | −$37.06B | −$22.19B | −$32.08B | −$37.69B |
| Debt / equity | 0.94 | 1.13 | 1.42 | 1.28 | 0.71 | 0.80 | 1.23 | 1.21 | 1.25 | 1.16 |
| Debt / assets | 0.10 | 0.11 | 0.13 | 0.11 | 0.07 | 0.09 | 0.15 | 0.15 | 0.16 | 0.14 |
| Net debt / EBITDA | 0.76 | 0.80 | −2.84 | −2.44 | −19.86 | −27.66 | −5.44 | −3.35 | −4.86 | −5.85 |
| Current ratio | 0.11 | 0.15 | 0.23 | 0.19 | 0.62 | 1.02 | 0.35 | 0.31 | 0.36 | 0.37 |
| Quick ratio | 0.11 | 0.15 | 0.37 | 0.29 | 0.85 | 1.54 | 0.45 | 0.39 | 0.63 | 0.62 |
| Interest coverage | 0.8 | 0.6 | 0.6 | 3.1 | 14.3 | 2.5 | 1.4 | 1.9 | 3.2 | 4.2 |
| Working capital | −$390.48B | −$364.41B | −$322.45B | −$367.12B | −$136.88B | $3.97B | −$195.94B | −$189.97B | −$174.74B | −$167.69B |
| Invested capital | $67.30B | $60.46B | $31.33B | $25.96B | −$118.28B | −$82.19B | $12.26B | $25.54B | $15.44B | $8.01B |
| Tangible asset value | $46.02B | $39.83B | $36.52B | $31.40B | $42.99B | $43.57B | $38.47B | $36.57B | $36.58B | $35.99B |
| Net current asset value | −$462.55B | −$443.24B | −$411.47B | −$426.52B | −$281.63B | −$226.68B | −$256.20B | −$247.39B | −$233.82B | −$221.29B |
| Graham number | $246.79 | $212.30 | $199.72 | $191.45 | $198.00 | $223.90 | $172.28 | $160.53 | $155.44 | $126.70 |
| Graham net-net per share | −$551.39 | −$1,112.28 | −$1,101.44 | −$1,093.02 | −$764.60 | −$645.53 | −$611.36 | −$552.11 | −$560.98 | −$513.20 |
| Capital allocation | ||||||||||
| Dividends paid | $2.94B | $2.89B | $2.88B | $2.69B | $2.29B | $2.21B | $2.13B | $1.84B | $1.50B | $1.27B |
| Share buybacks (net) | $1.34B | $1.19B | $1.65B | $5.23B | $1.08B | $2.10B | $3.58B | $2.88B | $2.45B | $2.06B |
| Dividend payout ratio | 42.4% | 49.1% | 51.6% | 44.6% | 40.3% | 29.4% | 39.7% | 34.7% | 28.1% | 32.5% |
| Dividends + buybacks / free cash flow | 97.7% | 51.7% | 44.8% | 87.2% | 7.2% | — | — | 60.1% | 70.8% | 95.2% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.2% | 201.9% | 347.6% | 106.4% | 0.0% | 69.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.6% | 551.4% | 1,362.7% | 298.1% | 0.0% | 223.2% | 0.0% |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.08 | 22.44 | 42.41 | 16.69 | 0.00 | 11.15 | 0.00 |
| Stock-based compensation / revenue | — | — | 3.3% | — | −4.3% | −16.7% | 1.2% | −0.6% | −1.6% | −0.3% |
| SG&A / revenue | 24.0% | 22.7% | 24.4% | 32.3% | 37.9% | 32.4% | 28.8% | 30.2% | 30.6% | 31.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 1,792.9 | 71.3 | 73.6 | 96.5 | 115.4 | 135.2 | 127.1 | 145.3 | 156.3 | 166.4 |
| Days of inventory on hand | — | — | -1,662.2 | -8,172.2 | 112,421.9 | -5,090.9 | -2,091.9 | -5,261.9 | -11,945.7 | -7,170.3 |
| Days payables outstanding | 13,807.8 | — | — | 29,840.9 | -291,745.0 | 858.8 | 832.0 | 990.8 | 1,538.5 | 1,543.8 |
| Cash conversion cycle (days) | -12,014.9 | — | — | -37,916.6 | 404,282.3 | -5,814.5 | -2,796.7 | -6,107.4 | -13,328.0 | -8,547.7 |
| Receivables turnover | 0.20 | 5.12 | 4.96 | 3.78 | 3.16 | 2.70 | 2.87 | 2.51 | 2.34 | 2.19 |
| Payables turnover | 0.03 | — | — | 0.01 | −0.00 | 0.43 | 0.44 | 0.37 | 0.24 | 0.24 |
| Asset turnover | 0.06 | 0.06 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average receivables | $166.88B | $6.58B | $6.43B | $6.22B | $6.23B | $6.76B | $7.19B | $7.58B | $7.72B | $7.49B |
| Average payables | $440.87B | — | — | $236.52B | $233.40B | $10.67B | $10.42B | $8.87B | $9.05B | $7.17B |
| Average inventory | — | — | −$50.79B | −$64.77B | −$89.94B | −$63.27B | −$26.19B | −$47.13B | −$70.27B | −$33.28B |
| Intangibles / total assets | 2.5% | 2.6% | 2.6% | 2.6% | 2.3% | 2.2% | 2.7% | 2.9% | 2.9% | 3.0% |
Computed from PNC's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PNC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), PNC traded at 11.9 times earnings, against a 10-year median of 12.5. Based on the latest twelve months, the trailing P/E is 11.6 and the forward P/E is 10.7. PNC earned a return on equity of 12.1% and a return on invested capital of 11.0% in fiscal 2025. It ended the year with $57.1 billion of debt and $50.4 billion in cash and short-term investments, net debt of $6.7 billion. It returned $4.3 billion to shareholders: $2.9 billion in dividends and $1.3 billion in share buybacks, 98% of free cash flow. The share count fell 21.2% from 500.0M to 394.0M over 9 years.
See the PNC income statement, the PNC chart for price history, or the PNC stock overview for the latest quote and news.
PNC key metrics FAQ
What is PNC's P/E ratio?
PNC's trailing P/E ratio is 11.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.7. At the end of fiscal 2025 it was 11.9, compared with a 10-year median of 12.5.
What is PNC's EV/EBITDA?
PNC's enterprise value was 10.0 times EBITDA at the end of fiscal 2025 (enterprise value $89.0 billion, EBITDA $8.9 billion).
What is PNC's return on equity?
PNC's return on equity (ROE) was 12.1% in fiscal 2025: net income of $6.9 billion on average shareholders' equity of $57.5 billion.
What is PNC's ROIC?
PNC's return on invested capital was 11.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PNC have?
PNC had total debt of $57.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.94 and $6.7 billion of net debt (0.76 times EBITDA).
What is PNC's dividend yield?
PNC's forward dividend yield is 3.68%. PNC paid $2.9 billion in dividends in fiscal 2025 ($7.47 per share), a payout ratio of 42.4%.
Does PNC buy back its shares?
Yes. PNC spent $1.3 billion on net share repurchases in fiscal 2025 Shares outstanding changed −1.5% over the year, to 394.0M..
What is PNC's free cash flow yield?
PNC generated $4.4 billion of free cash flow in fiscal 2025, a free cash flow yield of 5.3% on its market value at year-end ($82.2 billion).
What is PNC's current ratio?
PNC's current ratio was 0.11 at the end of fiscal 2025: current assets were 0.11 times current liabilities.