Truist Financial (TFC) FY2024 results: revenue $13.3 billion, down 33.7% on the year
Truist Financial Corp. (TFC) reported revenue of $13.3 billion for fiscal 2024, the year ended 31 December 2024, down 33.7% on the year before. Net income was $4.5 billion, and diluted earnings per share $3.36. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$13.3 billion
-33.7% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$4.5 billion
FY2017FY2024
Diluted EPS
$3.36
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
2,164
8,631
11,081
-74.9%
Capital expenditure
n/a
n/a
564
Free cash flow
n/a
n/a
10,517
Cash from investing
18,598
22,858
-29,972
-18.6%
Cash from financing
-11,638
-22,266
20,017
Share-based compensation
292
298
261
-2.0%
Buybacks
1,000
0.0
250
Dividends paid
2,770
2,770
2,656
0.0%
Dividend per share
$2.08
$2.08
$2.00
0.0%
Diluted shares, weighted
1,331m
1,332m
1,338m
-0.1%
Shares outstanding at period end
1,316m
1,334m
1,327m
-1.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
63,679
59,253
60,537
+7.5%
Non-controlling interest
0.0
n/a
n/a
Deposits
390,524
395,865
413,495
-1.3%
Trading liabilities
202
n/a
n/a
Debt
64,161
63,746
66,625
+0.7%
Other liabilities
12,610
16,485
14,598
-23.5%
Total liabilities and equity
531,176
535,349
555,255
-0.8%
Fixed assets
3,225
3,298
3,527
-2.2%
Goodwill
17,125
17,156
23,233
-0.2%
Intangible assets
1,550
1,909
2,313
-18.8%
Securities held for sale or to maturity
118,104
121,473
129,514
-2.8%
Loans
301,526
307,263
321,614
-1.9%
Resale agreements
2,550
2,378
3,181
+7.2%
Securities borrowed
1,228
1,210
766
+1.5%
Trading assets
5,100
4,332
4,905
+17.7%
Cash and equivalents
39,768
30,644
21,421
+29.8%
Other assets
41,000
45,686
44,781
-10.3%
Total assets
531,176
535,349
555,255
-0.8%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.