greeksoup/ stock research

PNC Financial Services Group (PNC) FY2019 results: revenue $16.8 billion, up 4.0% on the year

PNC Financial Services Group, Inc. (PNC) reported revenue of $16.8 billion for fiscal 2019, the year ended 31 December 2019, up 4.0% on the year before. Net income was $4.3 billion, up 0.7%, and diluted earnings per share $11.39. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.

Revenue
$16.8 billion
+4.0% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$4.3 billion
+0.7% on the year
FY2012FY2019
Diluted EPS
$11.39
+6.3% on the year
FY2012FY2019

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ millionFY2019FY2018FY2017On the yearLast 8 years
Revenue16,83916,19015,252+4.0%
Interest expense3,7972,8611,706+32.7%
Pre-tax income5,4925,4864,413+0.1%
Income tax901928-185-2.9%
Effective tax rate16.4%16.9%-4.2%
Net income4,2844,2554,271+0.7%
Net margin25.4%26.3%28.0%
Diluted EPS$11.39$10.71$10.36+6.3%
$ 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

$ millionFY2019FY2018FY2017On the yearLast 8 years
Operating cash flow7,3637,8405,579-6.1%
Cash from investing-24,990-3,969-14,895
Cash from financing17,080-3,5129,686
Depreciation and amortisation1,035940921+10.1%
Share-based compensationn/an/a200
Buybacks3,5782,8772,447+24.4%
Dividends paid1,8951,6011,266+18.4%
Dividend per sharen/an/a$2.60
Diluted shares, weighted448m470m486m-4.7%

Balance sheet

$ millionFY2019FY2018FY2017On the yearLast 8 years
Shareholders' equity49,31447,72847,513+3.3%
Non-controlling interest29.042.072.0-31.0%
Deposits288,540267,839265,053+7.7%
Debt60,26357,41959,088+5.0%
Other liabilities12,1499,2879,042+30.8%
Total liabilities and equity410,295382,315380,768+7.3%
Fixed assets7,7285,7275,436+34.9%
Goodwill9,2339,2189,173+0.2%
Securities held for sale or to maturity86,82482,70175,546+5.0%
Loans237,101223,616217,847+6.0%
Cash and equivalents5,0615,6085,249-9.8%
Other assets64,34855,44567,517+16.1%
Total assets410,295382,315380,768+7.3%

10-K for the year ended 31 December 2019, filed 26 February 2021: the filing.