The PNC Financial Services Group, Inc. (PNC) Financial Ratios
30 years of historical data (1995–2024) · Financial Services · Banks - Regional
EV/EBITDA
↑
14.04
↑+68% vs avg
5yr avg: 8.35
30Y Low2.2·High32.1
P/FCF
↓
11.41
+17% vs avg
5yr avg: 9.72
30Y Low2.3·High61.9
P/B Ratio
↑
1.63
↑+21% vs avg
5yr avg: 1.35
30Y Low0.6·High3.0
ROE
↓
11.2%
-6% vs avg
5yr avg: 11.9%
30Y Low4%·High25%
Debt/EBITDA
↑
8.22
+9% vs avg
5yr avg: 7.53
30Y Low3.5·High33.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
The PNC Financial Services Group, Inc. trades at 16.2x earnings, 5% above its 5-year average of 15.4x, sitting at the 80th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 21%. On a free-cash-flow basis, the stock trades at 11.4x P/FCF, 17% above the 5-year average of 9.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $89.9B | $77.1B | $62.1B | $65.1B | $85.4B | $63.6B | $71.5B | $54.9B | $70.1B | $58.5B | $49.7B |
| Enterprise Value | $105.3B | $92.6B | $84.1B | $89.4B | $36.2B | $10.7B | $103.6B | $96.2B | $95.7B | $80.9B | $71.6B |
| P/E Ratio → | 16.19 | 14.04 | 12.11 | 11.40 | 15.79 | 23.43 | 14.01 | 10.92 | 13.93 | 16.02 | 12.90 |
| P/S Ratio | 2.67 | 2.29 | 1.95 | 2.76 | 4.34 | 3.48 | 3.47 | 2.88 | 3.89 | 3.56 | 3.05 |
| P/B Ratio | 1.63 | 1.42 | 1.21 | 1.42 | 1.53 | 1.18 | 1.45 | 1.15 | 1.47 | 1.25 | 1.08 |
| P/FCF | 11.41 | 9.79 | 6.14 | 7.16 | 11.84 | 13.66 | 9.71 | 7.01 | 12.57 | 16.71 | 8.99 |
| P/OCF | 11.41 | 9.79 | 6.14 | 7.16 | 11.84 | 13.66 | 9.71 | 7.01 | 12.57 | 16.71 | 8.99 |
P/E links to full P/E history page with 30-year chart
PNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
The PNC Financial Services Group, Inc.'s enterprise value stands at 14.0x EBITDA, 68% above its 5-year average of 8.3x. The Financial Services sector median is 11.4x, placing the stock at a 23% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.75 | 2.64 | 3.80 | 1.84 | 0.59 | 5.02 | 5.05 | 5.30 | 4.93 | 4.40 |
| EV / EBITDA | 14.04 | 12.34 | 12.10 | 11.01 | 4.13 | 2.18 | 15.22 | 14.54 | 14.48 | 12.55 | 10.86 |
| EV / EBIT | 14.55 | 12.78 | 12.49 | 11.97 | 5.18 | 3.13 | 18.87 | 17.53 | 17.43 | 15.40 | 13.00 |
| EV / FCF | — | 11.75 | 8.32 | 9.84 | 5.01 | 2.30 | 14.07 | 12.26 | 17.15 | 23.11 | 12.96 |
PNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
The PNC Financial Services Group, Inc. earns an operating margin of 21.5%, roughly in line with the Financial Services sector average. Operating margins have compressed from 31.8% to 21.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 11.2% is modest. ROIC of 4.5% represents below-average returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.4% | 59.4% | 65.0% | 87.7% | 101.5% | 75.2% | 77.9% | 82.8% | 88.1% | 89.7% | 92.0% |
| Operating Margin | 21.5% | 21.5% | 21.1% | 31.8% | 35.5% | 18.8% | 26.6% | 28.8% | 30.4% | 32.0% | 33.8% |
| Net Profit Margin | 17.5% | 17.5% | 17.5% | 25.7% | 28.8% | 41.2% | 26.0% | 27.8% | 29.6% | 23.8% | 25.2% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.2% | 11.2% | 11.5% | 11.9% | 10.3% | 14.5% | 11.1% | 11.1% | 11.3% | 8.4% | 8.9% |
| ROA | 1.1% | 1.1% | 1.0% | 1.1% | 1.1% | 1.7% | 1.4% | 1.4% | 1.4% | 1.1% | 1.2% |
| ROIC | 4.5% | 4.5% | 4.4% | 5.8% | 5.8% | 2.5% | 3.8% | 3.9% | 4.0% | 3.9% | 4.0% |
| ROCE | 5.3% | 5.3% | 5.5% | 7.8% | 7.8% | 3.4% | 5.1% | 5.2% | 5.3% | 5.3% | 5.5% |
PNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The PNC Financial Services Group, Inc. carries a Debt/EBITDA ratio of 8.2x, which is highly leveraged (99% above the sector average of 4.1x). Net debt stands at $15.4B ($61.7B total debt minus $46.3B cash). Interest coverage of just 0.6x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.13 | 1.13 | 1.42 | 1.28 | 0.59 | 0.73 | 1.23 | 1.21 | 1.25 | 1.13 | 1.23 |
| Debt / EBITDA | 8.22 | 8.22 | 10.46 | 7.23 | 3.77 | 7.98 | 8.90 | 8.72 | 8.99 | 8.22 | 8.58 |
| Net Debt / Equity | — | 0.28 | 0.43 | 0.53 | -0.88 | -0.98 | 0.65 | 0.86 | 0.54 | 0.48 | 0.48 |
| Net Debt / EBITDA | 2.06 | 2.06 | 3.17 | 3.00 | -5.62 | -10.74 | 4.72 | 6.23 | 3.87 | 3.48 | 3.33 |
| Debt / FCF | — | 1.96 | 2.18 | 2.68 | -6.83 | -11.35 | 4.36 | 5.26 | 4.58 | 6.40 | 3.97 |
| Interest Coverage | 0.56 | 0.56 | 0.65 | 3.09 | 14.35 | 2.52 | 1.45 | 1.92 | 3.22 | 4.17 | 5.27 |
PNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.15x is below 1.0, meaning current liabilities exceed current assets — though the company's $46.3B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.15 | 0.15 | 0.23 | 0.19 | 0.47 | 0.50 | 0.35 | 0.31 | 0.36 | 0.37 | 0.38 |
| Quick Ratio | 0.15 | 0.15 | 0.23 | 0.19 | 0.47 | 0.50 | 0.35 | 0.31 | 0.36 | 0.37 | 0.38 |
| Cash Ratio | 0.11 | 0.11 | 0.12 | 0.08 | 0.18 | 0.25 | 0.09 | 0.06 | 0.12 | 0.12 | 0.13 |
| Asset Turnover | — | 0.06 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
The PNC Financial Services Group, Inc. returns 4.2% to shareholders annually — split between a 2.9% dividend yield and 1.3% buyback yield. A payout ratio of 43.1% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.9% | 3.3% | 4.0% | 3.7% | 2.4% | 3.1% | 2.6% | 2.9% | 1.8% | 1.8% | 2.1% |
| Payout Ratio | 43.1% | 43.1% | 44.1% | 39.6% | 36.2% | 26.3% | 35.3% | 30.2% | 23.7% | 27.2% | 25.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 7.1% | 8.3% | 8.8% | 6.3% | 4.3% | 7.1% | 9.2% | 7.2% | 6.2% | 7.8% |
| FCF Yield | 8.8% | 10.2% | 16.3% | 14.0% | 8.4% | 7.3% | 10.3% | 14.3% | 8.0% | 6.0% | 11.1% |
| Buyback Yield | 1.3% | 1.5% | 2.7% | 8.0% | 1.3% | 2.6% | 5.0% | 5.2% | 3.5% | 3.5% | 5.3% |
| Total Shareholder Yield | 4.2% | 4.8% | 6.6% | 11.7% | 3.7% | 5.7% | 7.7% | 8.1% | 5.3% | 5.3% | 7.4% |
| Shares Outstanding | — | $400M | $401M | $412M | $426M | $427M | $448M | $470M | $486M | $500M | $521M |
Peer Comparison
Compare PNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PNCYou | $90B | 16.2 | 14.0 | 11.4 | 59.4% | 21.5% | 11.2% | 4.5% | 8.2 |
 USB | $87B | 12.2 | 11.5 | — | 62.8% | 22.2% | 12.2% | 5.2% | 7.6 |
 TFC | $67B | 15.1 | 236.4 | 30.9 | 47.0% | -2.5% | 7.8% | -0.4% | 164.7 |
 RF | $24B | 12.3 | 6.6 | 11.2 | 74.6% | 28.5% | 11.7% | 8.5% | 1.7 |
 CFG | $28B | 21.7 | 12.4 | 15.1 | 57.6% | 15.3% | 6.2% | 3.8% | 5.2 |
 HBAN | $26B | 12.0 | 16.0 | 11.6 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 KEY | $25B | 14.6 | 14.7 | — | 62.3% | 20.6% | 9.5% | 5.4% | 4.7 |
 MTB | $33B | 14.9 | 6.9 | 9.8 | 64.3% | 24.7% | 9.2% | 6.0% | 3.6 |
 JPM | $849B | 15.9 | 13.6 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
 BAC | $408B | 14.0 | 14.8 | 32.3 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
 WFC | $249B | 15.0 | 10.6 | 81.9 | 62.2% | 18.6% | 10.7% | 3.7% | 9.1 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonPNC — Frequently Asked Questions
Quick answers to the most common questions about buying PNC stock.
What is The PNC Financial Services Group, Inc.'s P/E ratio?
The PNC Financial Services Group, Inc.'s current P/E ratio is 16.2x. The historical average is 15.1x. This places it at the 80th percentile of its historical range.
What is The PNC Financial Services Group, Inc.'s EV/EBITDA?
The PNC Financial Services Group, Inc.'s current EV/EBITDA is 14.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.0x.
What is The PNC Financial Services Group, Inc.'s ROE?
The PNC Financial Services Group, Inc.'s return on equity (ROE) is 11.2%. The historical average is 12.2%.
Is PNC stock overvalued?
Based on historical data, The PNC Financial Services Group, Inc. is trading at a P/E of 16.2x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is The PNC Financial Services Group, Inc.'s dividend yield?
The PNC Financial Services Group, Inc.'s current dividend yield is 2.85% with a payout ratio of 43.1%.
What are The PNC Financial Services Group, Inc.'s profit margins?
The PNC Financial Services Group, Inc. has 59.4% gross margin and 21.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does The PNC Financial Services Group, Inc. have?
The PNC Financial Services Group, Inc.'s Debt/EBITDA ratio is 8.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.