The PNC Financial Services Group, Inc.PNC
NYSE•Financial Services•Banks - Regional
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The Retail Banking segment offers checking, savings, and money market accounts, and time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. This segment serves consumer and small business customers through a network of branches, digital channels, ATMs, and through phone-based customer contact centers. The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management, receivables and disbursement management, funds transfer, international payment, and access to online/mobile information management and reporting services; asset-backed financing, securities underwriting, loan syndications, mergers and acquisitions and equity capital markets advisory, and customer related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services. It also offers outsourced chief investment officer, custody, cash and fixed income client solutions, and retirement plan fiduciary investment services for institutional clients. The company was founded in 1865 and is headquartered in Pittsburgh, Pennsylvania.
PNC Financial Services Group, I (PNC) reported trailing twelve months revenue of $23.81B as of March 2026, a 8.9% increase year-over-year. Quarterly revenue reached $6.17B, reflecting continued top-line momentum.
PNC Financial Services Group, I generated $6.85B in TTM net income, with quarterly EBITDA of $2.19B. The operating margin expanded from 33.9% to 35.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (35.5%) and net margin (27.2%) indicates moderate non-operating costs. Net margin has improved from 25.7% a year ago, signaling stronger bottom-line efficiency.
PNC trades at a P/E of 11.9x (below the broader market average) and a P/S of 3.4x. The price-to-book ratio of 1.3x reflects a moderate premium to book value.
The company generated $1.93B in free cash flow over the trailing twelve months, a 478.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $603.03B in total assets with $66.67B in long-term debt against $63.63B in stockholders equity for a debt-to-equity ratio of 1.0. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~35.5%, suggesting durable pricing power and cost discipline.
ROE is positive at ~10.0% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~12.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~37.1% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 1.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation