PNC Financial Services Group (PNC) FY2024 results: revenue $21.6 billion, up 0.3% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $21.6 billion for fiscal 2024, the year ended 31 December 2024, up 0.3% on the year before. Net income was $5.5 billion, up 7.2%, and diluted earnings per share $13.74. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$21.6 billion
+0.3% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$5.5 billion
+7.2% on the year
FY2017FY2024
Diluted EPS
$13.74
+7.4% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
7,880
10,111
9,083
-22.1%
Cash from investing
-3,232
10,105
-60,358
Cash from financing
-9,122
-3,854
3,384
Depreciation and amortisation
259
1,149
1,139
-77.5%
Buybacks
687
651
3,731
+5.5%
Dividends paid
2,537
2,461
2,391
+3.1%
Dividend per share
$6.30
$6.10
$5.75
+3.3%
Diluted shares, weighted
400m
401m
412m
-0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
54,425
51,105
45,774
+6.5%
Non-controlling interest
44.0
36.0
38.0
+22.2%
Deposits
426,738
421,418
436,282
+1.3%
Debt
61,673
72,737
58,726
-15.2%
Other liabilities
17,158
16,284
16,443
+5.4%
Total liabilities and equity
560,038
561,580
557,263
-0.3%
Fixed assets
8,672
8,517
8,754
+1.8%
Goodwill
10,932
10,932
10,987
0.0%
Securities held for sale or to maturity
139,732
132,569
139,334
+5.4%
Loans
311,981
316,717
321,284
-1.5%
Cash and equivalents
46,251
50,725
34,363
-8.8%
Other assets
42,470
42,120
42,541
+0.8%
Total assets
560,038
561,580
557,263
-0.3%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.