U.S. Bancorp (USB) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
11.50
+14% vs avg
5yr avg: 10.07
30Y Low9.2·High30.7
P/FCF
↓
N/A
—
5yr avg: 6.52
30Y Low3.1·High49.5
P/B Ratio
↓
1.33
+2% vs avg
5yr avg: 1.30
30Y Low1.2·High11.7
ROE
↓
12.2%
↓+3% vs avg
5yr avg: 11.8%
30Y Low8%·High50%
Debt/EBITDA
↑
7.57
+1% vs avg
5yr avg: 7.50
30Y Low1.6·High19.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
USB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
U.S. Bancorp trades at 12.2x earnings, roughly in line with its 5-year average of 12.1x, sitting at the 27th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 9%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $87.3B | $83.0B | $74.7B | $66.8B | $65.0B | $83.7B | $70.4B | $93.9B | $74.9B | $90.2B | $88.6B |
| Enterprise Value | $118.4B | $114.1B | $91.7B | $72.3B | $82.5B | $98.7B | $60.8B | $135.3B | $108.9B | $119.6B | $120.1B |
| P/E Ratio → | 12.18 | 11.57 | 12.62 | 13.24 | 11.82 | 11.01 | 15.23 | 14.25 | 11.04 | 15.26 | 15.85 |
| P/S Ratio | 2.04 | 1.94 | 1.75 | 1.64 | 2.37 | 3.53 | 2.79 | 3.43 | 2.90 | 3.81 | 3.95 |
| P/B Ratio | 1.33 | 1.26 | 1.26 | 1.20 | 1.27 | 1.51 | 1.31 | 1.79 | 1.45 | 1.82 | 1.85 |
| P/FCF | — | — | 6.62 | 7.91 | 3.08 | 8.48 | 18.93 | 19.20 | 7.09 | 13.93 | 16.60 |
| P/OCF | — | — | 6.62 | 7.91 | 3.08 | 8.48 | 18.93 | 19.20 | 7.09 | 13.93 | 16.60 |
P/E links to full P/E history page with 30-year chart
USB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
U.S. Bancorp's enterprise value stands at 11.5x EBITDA, 14% above its 5-year average of 10.1x. This is roughly in line with the Financial Services sector median of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.66 | 2.15 | 1.78 | 3.01 | 4.16 | 2.41 | 4.95 | 4.22 | 5.05 | 5.36 |
| EV / EBITDA | 11.50 | 11.08 | 10.36 | 9.18 | 10.49 | 9.26 | 9.25 | 14.88 | 11.91 | 14.98 | 14.01 |
| EV / EBIT | 12.44 | 11.99 | 11.59 | 10.54 | 11.30 | 9.71 | 10.05 | 15.75 | 12.55 | 15.91 | 14.82 |
| EV / FCF | — | — | 8.13 | 8.56 | 3.91 | 10.00 | 16.37 | 27.68 | 10.31 | 18.48 | 22.52 |
USB Profitability
Margins and return-on-capital ratios measuring operating efficiency
U.S. Bancorp earns an operating margin of 22.2%, roughly in line with the Financial Services sector average. Operating margins have expanded from 16.9% to 22.2% over the past 3 years, signaling improving operational efficiency. ROE of 12.2% is modest. ROIC of 5.2% represents adequate 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.8% | 62.8% | 58.8% | 63.4% | 81.0% | 100.8% | 76.9% | 78.2% | 82.0% | 85.8% | 87.5% |
| Operating Margin | 22.2% | 22.2% | 18.5% | 16.9% | 26.6% | 42.9% | 24.0% | 31.5% | 33.7% | 31.8% | 36.1% |
| Net Profit Margin | 17.7% | 17.7% | 14.7% | 13.4% | 21.3% | 33.6% | 19.6% | 25.3% | 27.5% | 26.3% | 26.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.2% | 12.2% | 11.0% | 10.1% | 10.9% | 14.6% | 9.3% | 13.3% | 14.0% | 12.7% | 12.4% |
| ROA | 1.1% | 1.1% | 0.9% | 0.8% | 0.9% | 1.4% | 0.9% | 1.4% | 1.5% | 1.4% | 1.4% |
| ROIC | 5.2% | 5.2% | 4.7% | 4.2% | 4.9% | 7.4% | 4.1% | 5.8% | 6.3% | 5.8% | 6.0% |
| ROCE | 2.3% | 2.3% | 5.6% | 5.4% | 6.5% | 9.3% | 5.4% | 7.9% | 8.4% | 7.7% | 8.5% |
USB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
U.S. Bancorp carries a Debt/EBITDA ratio of 7.6x, which is highly leveraged (83% above the sector average of 4.1x). Net debt stands at $31.0B ($77.9B total debt minus $46.9B cash). Interest coverage of just 0.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.19 | 1.19 | 1.25 | 1.20 | 1.39 | 0.79 | 0.99 | 1.22 | 1.07 | 0.98 | 0.99 |
| Debt / EBITDA | 7.57 | 7.57 | 8.31 | 8.47 | 9.04 | 4.12 | 8.07 | 7.02 | 6.07 | 6.13 | 5.51 |
| Net Debt / Equity | — | 0.47 | 0.29 | 0.10 | 0.34 | 0.27 | -0.18 | 0.79 | 0.66 | 0.59 | 0.66 |
| Net Debt / EBITDA | 3.02 | 3.02 | 1.92 | 0.71 | 2.23 | 1.41 | -1.45 | 4.56 | 3.72 | 3.68 | 3.68 |
| Debt / FCF | — | — | 1.51 | 0.66 | 0.83 | 1.52 | -2.56 | 8.49 | 3.22 | 4.54 | 5.92 |
| Interest Coverage | 0.66 | 0.66 | 0.51 | 0.54 | 2.27 | 10.24 | 3.00 | 1.93 | 2.67 | 3.82 | 5.52 |
USB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
U.S. Bancorp's current ratio of 2.73x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.26x to 2.73x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.73 | 2.73 | 0.28 | 0.26 | 0.24 | 0.37 | 0.48 | 0.41 | 0.28 | 0.28 | 0.27 |
| Quick Ratio | 2.73 | 2.73 | 0.28 | 0.26 | 0.24 | 0.37 | 0.48 | 0.41 | 0.28 | 0.28 | 0.27 |
| Cash Ratio | 2.73 | 2.73 | 0.11 | 0.12 | 0.10 | 0.06 | 0.14 | 0.06 | 0.06 | 0.05 | 0.05 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.04 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
USB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
U.S. Bancorp does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 8.2% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 4.1% | 4.4% | 4.3% | 3.1% | 3.6% | 2.6% | 2.8% | 2.1% | 2.0% |
| Payout Ratio | — | — | 49.1% | 54.7% | 47.7% | 32.4% | 51.5% | 35.3% | 29.5% | 31.0% | 30.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.2% | 8.6% | 7.9% | 7.6% | 8.5% | 9.1% | 6.6% | 7.0% | 9.1% | 6.6% | 6.3% |
| FCF Yield | — | — | 15.1% | 12.6% | 32.5% | 11.8% | 5.3% | 5.2% | 14.1% | 7.2% | 6.0% |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 0.1% | 1.8% | 3.4% | 2.4% | 4.8% | 3.8% | 4.1% | 2.9% |
| Total Shareholder Yield | 0.0% | 0.0% | 4.4% | 4.5% | 6.1% | 6.4% | 6.0% | 7.4% | 6.6% | 6.3% | 4.9% |
| Shares Outstanding | — | $1.6B | $1.6B | $1.5B | $1.5B | $1.5B | $1.5B | $1.6B | $1.6B | $1.7B | $1.7B |
Peer Comparison
Compare USB 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 |
|---|---|---|---|---|---|---|---|---|---|
 USBYou | $87B | 12.2 | 11.5 | — | 62.8% | 22.2% | 12.2% | 5.2% | 7.6 |
 WFC | $249B | 15.0 | 10.6 | 81.9 | 62.2% | 18.6% | 10.7% | 3.7% | 9.1 |
 PNC | $90B | 16.2 | 14.0 | 11.4 | 59.4% | 21.5% | 11.2% | 4.5% | 8.2 |
 TFC | $67B | 15.1 | 236.4 | 30.9 | 47.0% | -2.5% | 7.8% | -0.4% | 164.7 |
 CFG | $28B | 21.7 | 12.4 | 15.1 | 57.6% | 15.3% | 6.2% | 3.8% | 5.2 |
 FITB | $34B | 16.2 | 14.7 | 14.1 | 59.2% | 22.3% | 11.9% | 5.7% | 5.6 |
 HBAN | $26B | 12.0 | 16.0 | 11.6 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 RF | $24B | 12.3 | 6.6 | 11.2 | 74.6% | 28.5% | 11.7% | 8.5% | 1.7 |
 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 |
 C | $223B | 21.4 | 25.1 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
| 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 ComparisonUSB — Frequently Asked Questions
Quick answers to the most common questions about buying USB stock.
What is U.S. Bancorp's P/E ratio?
U.S. Bancorp's current P/E ratio is 12.2x. The historical average is 14.0x. This places it at the 27th percentile of its historical range.
What is U.S. Bancorp's EV/EBITDA?
U.S. Bancorp's current EV/EBITDA is 11.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
What is U.S. Bancorp's ROE?
U.S. Bancorp's return on equity (ROE) is 12.2%. The historical average is 17.5%.
Is USB stock overvalued?
Based on historical data, U.S. Bancorp is trading at a P/E of 12.2x. This is at the 27th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are U.S. Bancorp's profit margins?
U.S. Bancorp has 62.8% gross margin and 22.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does U.S. Bancorp have?
U.S. Bancorp's Debt/EBITDA ratio is 7.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.