PNC Financial Services Group (PNC) FY2017 results: revenue $15.3 billion, up 0.6% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $15.3 billion for fiscal 2017, the year ended 31 December 2017, up 0.6% on the year before. Net income was $4.3 billion, up 16.6%, and diluted earnings per share $10.36. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$15.3 billion
+0.6% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$4.3 billion
+16.6% on the year
FY2010FY2017
Diluted EPS
$10.36
+41.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
15,252
15,162
15,225
+0.6%
Interest expense
1,706
1,261
1,045
+35.3%
Pre-tax income
4,413
5,253
5,507
-16.0%
Income tax
-185
1,268
1,364
Effective tax rate
-4.2%
24.1%
24.8%
Net income
4,271
3,662
3,864
+16.6%
Net margin
28.0%
24.2%
25.4%
Diluted EPS
$10.36
$7.30
$7.39
+41.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,579
3,500
5,525
+59.4%
Cash from investing
-14,895
-7,307
n/a
Cash from financing
9,686
4,621
10,440
+109.6%
Depreciation and amortisation
921
843
809
+9.3%
Share-based compensation
200
200
200
0.0%
Buybacks
2,447
2,062
2,152
+18.7%
Dividends paid
1,266
1,061
1,038
+19.3%
Dividend per share
$2.60
$2.12
$2.01
+22.6%
Diluted shares, weighted
486m
500m
521m
-2.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
47,513
45,699
44,710
+4.0%
Non-controlling interest
72.0
1,155
1,270
-93.8%
Deposits
265,053
257,164
249,002
+3.1%
Repurchase agreements
n/a
n/a
1,777
Debt
59,088
52,706
54,532
+12.1%
Other liabilities
9,042
9,656
7,202
-6.4%
Total liabilities and equity
380,768
366,380
358,493
+3.9%
Fixed assets
5,436
5,522
5,908
-1.6%
Goodwill
9,173
9,103
9,103
+0.8%
Intangible assets
n/a
n/a
379
Securities held for sale or to maturity
75,546
15,843
14,768
+376.8%
Loans
217,847
208,244
203,969
+4.6%
Resale agreements
n/a
n/a
1,369
Trading assets
n/a
n/a
1,726
Cash and equivalents
5,249
n/a
n/a
Other assets
67,517
127,668
121,271
-47.1%
Total assets
380,768
366,380
358,493
+3.9%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.