PNC Financial Services Group (PNC) FY2015 results: revenue $15.2 billion, down 1.0% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $15.2 billion for fiscal 2015, the year ended 31 December 2015, down 1.0% on the year before. Net income was $3.9 billion, down 1.8%, and diluted earnings per share $7.39. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$15.2 billion
-1.0% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$3.9 billion
-1.8% on the year
FY2008FY2015
Diluted EPS
$7.39
+1.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
15,225
15,375
16,012
-1.0%
Interest expense
1,045
906
860
+15.3%
Pre-tax income
5,507
5,614
5,688
-1.9%
Income tax
1,364
1,407
1,476
-3.1%
Effective tax rate
24.8%
25.1%
25.9%
Net income
3,864
3,936
3,934
-1.8%
Net margin
25.4%
25.6%
24.6%
Diluted EPS
$7.39
$7.30
$7.36
+1.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,525
5,585
5,555
-1.1%
Cash from financing
10,440
n/a
n/a
Depreciation and amortisation
809
776
715
+4.3%
Share-based compensation
200
200
154
0.0%
Buybacks
2,152
1,176
24.0
+83.0%
Dividends paid
1,038
1,000
911
+3.8%
Dividend per share
$2.01
n/a
n/a
Diluted shares, weighted
521m
537m
532m
-3.0%
Shares outstanding at period end
n/a
523m
n/a
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
44,710
44,551
42,408
+0.4%
Non-controlling interest
1,270
1,523
1,703
-16.6%
Deposits
249,002
232,234
220,931
+7.2%
Repurchase agreements
1,777
3,510
4,289
-49.4%
Debt
54,532
56,768
46,105
-3.9%
Other liabilities
7,202
6,486
4,860
+11.0%
Total liabilities and equity
358,493
345,072
320,296
+3.9%
Fixed assets
5,908
5,643
5,618
+4.7%
Goodwill
9,103
9,103
9,074
0.0%
Intangible assets
379
493
2,216
-23.1%
Securities held for sale or to maturity
14,768
n/a
11,687
Loans
203,969
201,486
192,004
+1.2%
Resale agreements
1,369
1,852
1,986
-26.1%
Trading assets
1,726
2,353
3,073
-26.6%
Other assets
121,271
124,142
94,638
-2.3%
Total assets
358,493
345,072
320,296
+3.9%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.