PNC Financial Services Group (PNC) FY2023 results: revenue $21.5 billion, up 1.8% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $21.5 billion for fiscal 2023, the year ended 31 December 2023, up 1.8% on the year before. Net income was $5.1 billion, down 10.2%, and diluted earnings per share $12.79. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$21.5 billion
+1.8% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$5.1 billion
-10.2% on the year
FY2016FY2023
Diluted EPS
$12.79
-7.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
10,111
9,083
7,214
+11.3%
Cash from investing
10,105
-60,358
-2,795
Cash from financing
-3,854
3,384
-3,432
Depreciation and amortisation
1,149
1,139
1,066
+0.9%
Buybacks
651
3,731
1,079
-82.6%
Dividends paid
2,461
2,391
2,056
+2.9%
Dividend per share
$6.10
$5.75
$4.80
+6.1%
Diluted shares, weighted
401m
412m
426m
-2.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
51,105
45,774
55,695
+11.6%
Non-controlling interest
36.0
38.0
31.0
-5.3%
Deposits
421,418
436,282
457,278
-3.4%
Debt
72,737
58,726
30,784
+23.9%
Other liabilities
16,284
16,443
13,403
-1.0%
Total liabilities and equity
561,580
557,263
557,191
+0.8%
Fixed assets
8,517
8,754
8,593
-2.7%
Goodwill
10,932
10,987
10,916
-0.5%
Securities held for sale or to maturity
132,569
139,334
132,962
-4.9%
Loans
316,717
321,284
283,504
-1.4%
Cash and equivalents
50,725
34,363
82,254
+47.6%
Other assets
42,120
42,541
38,962
-1.0%
Total assets
561,580
557,263
557,191
+0.8%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.