Last 46 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.02 | 11.02 | 10.59 | 9.99 | 10.19 | 10.25 | 11.84 | 11.10 | 10.23 | 14.33 | 22.08 | 9.08 | 9.83 | 8.67 | 19.13 | 8.69 | 11.62 | 13.42 | 13.12 | 11.43 | 11.13 |
| — | +7.5% | -10.6% | -10.0% | -0.4% | -28.5% | -46.4% | +22.2% | +4.1% | +65.3% | +15.4% | +4.5% | -15.4% | -35.4% | +45.7% | -24.0% | +4.4% | +40.7% | +7.0% | +26.3% | -50.4% | |
| P/S Ratio | 3.28 | 2.78 | 2.83 | 2.58 | 2.53 | 2.38 | 2.67 | 2.61 | 2.27 | 2.61 | 2.50 | 1.83 | 1.77 | 1.93 | 2.58 | 2.38 | 2.86 | 3.55 | 3.68 | 3.76 | 3.69 |
| — | +17.2% | +5.8% | -1.3% | +11.6% | -8.8% | +6.7% | +42.8% | +27.8% | +34.8% | -3.0% | -23.1% | -38.0% | -45.5% | -29.9% | -36.7% | -22.4% | -7.1% | +20.1% | +65.4% | +54.5% | |
| P/B Ratio | 1.42 | 1.22 | 1.26 | 1.18 | 1.14 | 1.09 | 1.26 | 1.20 | 1.09 | 1.24 | 1.21 | 0.96 | 0.95 | 1.03 | 1.28 | 1.25 | 1.39 | 1.53 | 1.50 | 1.62 | 1.58 |
| — | +12.2% | +0.1% | -2.0% | +4.6% | -12.5% | +4.5% | +25.9% | +15.0% | +20.4% | -5.4% | -23.5% | -32.1% | -32.4% | -15.1% | -23.0% | -11.8% | -3.8% | +15.1% | +59.7% | +49.6% | |
| P/FCF | 11.73 | 15.09 | 7.32 | 5.55 | 8.68 | — | 3.91 | 18.36 | 5.39 | 6.55 | 40.52 | 3.31 | 3.82 | 16.40 | 2.38 | 4.27 | 7.61 | 2.33 | 29.64 | 8.33 | 3.80 |
| — | — | +87.0% | -69.8% | +61.1% | — | -90.3% | +455.4% | +41.2% | -60.1% | +1605.6% | -22.7% | -49.8% | +604.0% | -92.0% | -48.7% | +100.1% | -89.5% | — | +102.6% | — | |
| EV / EBITDA | 12.10 | 9.65 | 10.72 | 7.88 | 9.14 | 9.78 | 9.76 | 8.29 | 7.14 | 8.18 | 14.60 | 5.86 | 7.18 | 8.99 | 16.25 | 7.79 | 10.09 | 10.62 | 10.87 | 6.98 | 8.46 |
| — | -1.4% | +9.8% | -5.0% | +28.0% | +19.5% | -33.1% | +41.5% | -0.6% | -9.0% | -10.2% | -24.8% | -28.8% | -15.3% | +49.5% | +11.6% | +19.3% | +43.6% | +47.1% | -12.8% | -54.6% | |
| EV / EBIT | 13.09 | 11.54 | 11.26 | 8.55 | 10.01 | 10.75 | 10.87 | 9.21 | 7.95 | 9.34 | 18.25 | 6.63 | 8.23 | 10.06 | 18.84 | 8.22 | 10.74 | 11.34 | 11.51 | 7.32 | 8.87 |
| — | +7.3% | +3.6% | -7.2% | +25.8% | +15.1% | -40.5% | +39.0% | -3.3% | -7.2% | -3.1% | -19.4% | -23.4% | -11.2% | +63.7% | +12.4% | +21.1% | +47.1% | +45.5% | -14.4% | -59.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.8% | 61.7% | 66.8% | 61.1% | 61.5% | 61.7% | 60.2% | 58.2% | 58.1% | 58.6% | 59.9% | 61.7% | 61.6% | 70.9% | 64.2% | 82.5% | 89.0% | 93.9% | 96.3% | 98.8% | 98.8% |
| — | -0.1% | +11.1% | +5.1% | +5.9% | +5.4% | +0.5% | -5.6% | -5.8% | -17.3% | -6.7% | -25.2% | -30.7% | -24.5% | -33.4% | -16.5% | -9.9% | -14.4% | +9.9% | +17.0% | +52.3% | |
| Operating Margin | 22.2% | 24.8% | 23.1% | 23.0% | 21.8% | 20.9% | 19.8% | 19.2% | 19.0% | 16.0% | 9.6% | 18.6% | 17.1% | 22.8% | 13.7% | 31.9% | 30.6% | 33.6% | 36.3% | 42.6% | 42.3% |
| — | +19.0% | +16.7% | +19.7% | +14.4% | +30.4% | +105.2% | +3.4% | +11.5% | -29.9% | -29.9% | -41.8% | -44.1% | -32.2% | -62.2% | -25.0% | -27.8% | -33.5% | +13.9% | +38.4% | +250.4% | |
| Net Margin | 17.7% | 18.0% | 18.7% | 18.2% | 17.2% | 16.5% | 15.6% | 15.9% | 14.8% | 12.6% | 8.2% | 14.5% | 13.3% | 17.9% | 11.5% | 25.2% | 24.0% | 26.8% | 28.4% | 33.2% | 33.0% |
| — | +8.7% | +19.8% | +14.4% | +16.2% | +31.0% | +91.2% | +9.8% | +11.8% | -29.7% | -29.3% | -42.5% | -44.7% | -33.1% | -59.4% | -24.2% | -27.3% | -32.8% | +12.8% | +32.2% | +201.3% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.2% | 2.9% | 3.2% | 3.2% | 3.0% | 2.9% | 2.8% | 2.9% | 2.8% | 2.4% | 1.5% | 2.8% | 2.5% | 3.2% | 1.9% | 3.7% | 3.0% | 2.9% | 3.0% | 3.8% | 3.7% |
| — | +3.2% | +12.8% | +7.9% | +4.4% | +21.1% | +81.4% | +3.7% | +11.5% | -27.3% | -16.9% | -23.8% | -16.3% | +11.5% | -38.8% | -0.5% | -18.7% | -32.4% | +7.3% | +25.5% | +184.0% | |
| ROA | 1.1% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.3% | 0.1% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% |
| — | +10.7% | +21.3% | +15.4% | +13.3% | +28.9% | +91.6% | +11.1% | +17.7% | -21.7% | -12.3% | -25.7% | -23.2% | -6.8% | -50.6% | -15.6% | -27.0% | -34.8% | +5.7% | +23.9% | +181.7% | |
| ROIC | 5.2% | 1.4% | 1.3% | 1.3% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.0% | 0.6% | 1.2% | 0.9% | 1.2% | 0.7% | 1.7% | 1.4% | 1.4% | 1.6% | 1.9% | 1.9% |
| — | +16.4% | +13.9% | +14.1% | +0.9% | +18.6% | +87.9% | +0.2% | +32.1% | -14.3% | -14.3% | -28.8% | -33.7% | -17.6% | -53.5% | -11.2% | -24.7% | -31.2% | +17.1% | +44.3% | +301.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.19 | 1.20 | 1.19 | 1.22 | 1.28 | 1.27 | 1.25 | 1.32 | 1.22 | 1.25 | 1.20 | 1.21 | 1.45 | 1.85 | 1.39 | 1.19 | 1.11 | 1.04 | 0.79 | 0.95 | 0.93 |
| — | -6.0% | -4.7% | -7.7% | +4.9% | +2.1% | +4.0% | +9.2% | -16.1% | -32.7% | -13.7% | +1.6% | +31.0% | +77.2% | +74.9% | +25.5% | +19.5% | +10.3% | -19.7% | -9.9% | -23.0% | |
| Debt / EBITDA | 7.57 | 27.37 | 29.31 | 28.38 | 31.49 | 32.44 | 31.34 | 34.11 | 30.25 | 36.56 | 53.41 | 29.39 | 38.69 | 40.94 | 55.68 | 23.63 | 26.23 | 25.86 | 19.42 | 19.00 | 18.69 |
| — | -15.6% | -6.5% | -16.8% | +4.1% | -11.3% | -41.3% | +16.1% | -21.8% | -10.7% | -4.1% | +24.4% | +47.5% | +58.3% | +186.7% | +24.3% | +40.3% | +57.4% | -24.8% | -30.1% | -73.7% | |
| Current Ratio | 0.26 | 0.40 | 0.26 | 0.30 | 0.29 | 0.27 | 0.28 | 0.30 | 0.29 | 0.29 | 0.26 | 0.26 | 0.27 | 0.25 | 0.24 | 0.24 | 0.30 | 0.37 | 0.37 | 0.49 | 0.48 |
| — | +47.8% | -9.8% | +0.4% | +2.4% | -5.5% | +7.5% | +16.2% | +6.5% | +14.7% | +7.9% | +7.0% | -11.0% | -32.1% | -34.3% | -50.6% | -37.5% | -22.0% | -23.0% | +9.3% | +8.1% | |
| Quick Ratio | 0.26 | 0.40 | 0.26 | 0.30 | 0.29 | 0.27 | 0.28 | 0.30 | 0.29 | 0.29 | 0.26 | 0.26 | 0.27 | 0.25 | 0.24 | 0.24 | 0.30 | 0.37 | 0.37 | 0.49 | 0.48 |
| — | +47.8% | -9.8% | +0.4% | +2.4% | -5.5% | +7.5% | +16.2% | +6.5% | +14.7% | +7.9% | +7.0% | -11.0% | -32.1% | -34.3% | -50.6% | -37.5% | -22.0% | -23.0% | +9.3% | +8.1% | |
| Interest Coverage | 0.66 | 0.68 | 0.70 | 0.68 | 0.65 | 0.63 | 0.57 | 0.52 | 0.52 | 0.44 | 0.27 | 0.56 | 0.56 | 0.93 | 0.65 | 2.55 | 4.99 | 7.98 | 9.21 | 10.92 | 10.36 |
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Includes 30+ ratios · 46 years · Updated daily
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Quick answers to the most common questions about buying USB stock.
U.S. Bancorp's current P/E is 13.0x. The average P/E over the last 4 quarters is 10.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
U.S. Bancorp's current operating margin is 22.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking U.S. Bancorp's business trajectory between earnings reports.