financial statements

The full income statement, balance sheet, and cash-flow statement for U.S. Bancorp (USB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	28.7B YoY+4.4%	27.5B YoY-2.4%	28.1B YoY+15.8%	24.3B	—
Noninterest income	11.9B YoY+7.6%	11.0B YoY+4.0%	10.6B YoY+12.3%	9.46B YoY-7.5%	10.2B YoY-1.7%
Amortization of intangibles	498M YoY-12.5%	569M YoY-10.5%	636M YoY+195.8%	215M YoY+35.2%	159M YoY-9.7%
Noninterest expense	16.8B YoY-2.0%	17.2B YoY-8.9%	18.9B YoY+26.6%	14.9B YoY+8.6%	13.7B YoY+2.7%
Provision for credit losses	2.19B YoY-2.3%	2.24B YoY-1.6%	2.27B YoY+15.1%	1.98B YoY+268.5%	-1.17B YoY-130.8%
Interest expense	—	—	12.6B YoY+292.0%	3.22B YoY+224.0%	993M YoY-50.7%
Interest & investment income	31.0B YoY-2.2%	31.7B YoY+5.5%	30.0B YoY+67.2%	17.9B YoY+33.1%	13.5B YoY-9.1%
Net interest income	16.6B YoY+2.2%	16.3B YoY-6.4%	17.4B YoY+18.1%	14.7B YoY+17.9%	12.5B YoY-2.6%
Pre-tax income	9.52B YoY+20.3%	7.91B YoY+15.2%	6.87B YoY-6.0%	7.30B YoY-28.2%	10.2B YoY+68.0%
Income tax	1.92B YoY+21.6%	1.58B YoY+12.3%	1.41B YoY-3.8%	1.46B YoY-32.9%	2.18B YoY+104.6%
	7.57B YoY+20.2%	6.30B YoY+16.0%	5.43B YoY-6.8%	5.83B YoY-26.8%	7.96B YoY+60.6%
Net income to non-controlling interest	26.0M YoY-13.3%	30.0M YoY+3.4%	29.0M YoY+123.1%	13.0M YoY-40.9%	22.0M YoY-15.4%
Preferred dividends	329M YoY-6.5%	352M YoY+0.6%	350M YoY+18.2%	296M YoY-2.3%	303M YoY-0.3%
Net income to common	7.19B YoY+21.7%	5.91B YoY+17.0%	5.05B YoY-8.2%	5.50B YoY-27.7%	7.61B YoY+64.6%
	$4.62 YoY+21.9%	$3.79 YoY+15.9%	$3.27 YoY-11.4%	$3.69 YoY-27.6%	$5.10 YoY+66.7%
EPS (basic)	$4.62 YoY+21.9%	$3.79 YoY+15.9%	$3.27 YoY-11.4%	$3.69 YoY-27.8%	$5.11 YoY+67.0%
Weighted-avg shares (basic)	1.56B YoY-0.2%	1.56B YoY+1.1%	1.54B YoY+3.6%	1.49B YoY+0.0%	1.49B YoY-1.3%
Weighted-avg shares (diluted)	1.56B YoY-0.2%	1.56B YoY+1.2%	1.54B YoY+3.6%	1.49B YoY+0.0%	1.49B YoY-1.3%
Dividends per share	$2.04 YoY+3.0%	$1.98 YoY+2.6%	$1.93 YoY+2.7%	$1.88 YoY+6.8%	$1.76 YoY+4.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	46.9B YoY-17.0%	56.5B YoY-7.7%	61.2B YoY+14.3%	53.5B YoY+85.2%	28.9B YoY-53.8%
	692B YoY+2.1%	678B YoY+2.2%	663B YoY-1.7%	675B YoY+17.7%	573B YoY+3.5%
Property, plant & equipment	3.62B YoY+0.0%	3.62B YoY+0.0%	3.62B YoY-6.3%	3.86B YoY+16.7%	3.31B YoY-4.7%
Operating lease right-of-use	1.20B YoY+7.3%	1.11B YoY-3.0%	1.15B YoY-11.3%	1.30B YoY+8.0%	1.20B YoY+0.0%
Goodwill	12.6B YoY+0.8%	12.5B YoY+0.4%	12.5B YoY+0.9%	12.4B YoY+20.6%	10.3B YoY+3.5%
Intangible assets	4.90B YoY-11.6%	5.55B YoY-8.8%	6.08B YoY-15.0%	7.16B YoY+91.4%	3.74B YoY+30.5%
Short-term & current debt	17.2B YoY+10.6%	15.5B YoY+1.6%	15.3B YoY-51.1%	31.2B YoY+164.6%	11.8B YoY+0.3%
	627B YoY+1.2%	619B YoY+1.9%	608B YoY-2.5%	624B YoY+20.4%	518B YoY+3.5%
Long-term debt	43.1B YoY+0.0%	43.1B YoY+0.0%	43.1B YoY+8.1%	39.8B YoY+24.0%	32.1B YoY-22.2%
	65.2B YoY+11.3%	58.6B YoY+5.9%	55.3B YoY+8.9%	50.8B YoY-7.6%	54.9B YoY+3.4%
Preferred stock	4.77B YoY+0.0%	4.77B YoY+0.0%	4.77B YoY+0.0%	4.77B YoY+0.0%	4.77B YoY+0.0%
Common stock	21.0M YoY+0.0%	21.0M YoY+0.0%	21.0M YoY+0.0%	21.0M YoY+0.0%	21.0M YoY+0.0%
Additional paid-in capital	8.73B YoY+0.1%	8.71B YoY+0.5%	8.67B YoY-0.4%	8.71B YoY+2.0%	8.54B YoY+0.3%
Retained earnings	80.9B YoY+5.3%	76.9B YoY+3.8%	74.0B YoY+3.0%	71.9B YoY+3.9%	69.2B YoY+7.8%
Treasury stock	24.3B YoY+0.9%	24.1B YoY-0.3%	24.1B YoY-4.5%	25.3B YoY-7.3%	27.3B YoY+5.2%
Accumulated other comprehensive income	-6.99B YoY+28.4%	-9.76B YoY+3.3%	-10.1B YoY+11.5%	-11.4B YoY-487.1%	-1.94B YoY-703.4%
Non-controlling interest	458M YoY-0.9%	462M YoY-0.6%	465M YoY-0.2%	466M YoY-0.6%	469M YoY-25.6%
Total equity incl. non-controlling	65.7B YoY+11.2%	59.0B YoY+5.9%	55.8B YoY+8.9%	51.2B YoY-7.5%	55.4B YoY+3.1%
Total liabilities & equity	692B YoY+2.1%	678B YoY+2.2%	663B YoY-1.7%	675B YoY+17.7%	573B YoY+3.5%
Common shares issued	2.13B YoY+0.0%	2.13B YoY+0.0%	2.13B YoY+0.0%	2.13B YoY+0.0%	2.13B YoY+0.0%
Common shares outstanding	1.60B YoY+0.0%	1.60B YoY+0.0%	1.60B YoY+6.7%	1.50B YoY+0.0%	1.50B YoY+0.0%
Shares outstanding (cover)	1.55B YoY-0.4%	1.56B YoY+0.2%	1.56B YoY+4.8%	1.49B YoY+0.2%	1.48B YoY-1.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	7.97B YoY-29.8%	11.3B YoY+35.2%	8.39B YoY-60.3%	21.1B YoY+114.0%	9.87B YoY+165.6%
Deferred income taxes	308M YoY+962.1%	29.0M YoY+105.7%	-509M	—	—
Other operating activities	-2.31B YoY-207.2%	2.15B YoY+1149.8%	-205M YoY-103.0%	6.79B YoY+179.7%	2.43B YoY+329.5%
	-20.5B YoY+16.3%	-24.5B YoY-229.6%	18.9B YoY+152.3%	7.50B YoY+113.0%	-57.5B YoY-272.3%
Sales/maturities of investments	6.98B YoY+16.2%	6.01B YoY-4.9%	6.31B YoY-57.7%	14.9B YoY-63.8%	41.2B YoY+1.4%
Other investing activities	2.96B YoY+61.4%	1.83B YoY+55.0%	1.18B YoY-78.0%	5.39B YoY+912.0%	-664M YoY-930.0%
	2.25B YoY-74.5%	8.82B YoY+144.1%	-20.0B YoY-402.2%	-3.98B YoY-128.6%	13.9B YoY-73.1%
Long-term debt issued	10.4B YoY-13.8%	12.0B YoY-22.9%	15.6B YoY+78.5%	8.73B YoY+232.5%	2.63B YoY-81.9%
Long-term debt repaid	9.05B YoY+49.8%	6.04B YoY+47.9%	4.08B YoY-41.0%	6.93B YoY-39.4%	11.4B YoY-21.0%
Net short-term debt	1.64B YoY+587.9%	239M YoY+101.4%	-16.5B YoY-208.5%	15.2B YoY+50610.0%	30.0M YoY+100.3%
Common stock issued	45.0M YoY+40.6%	32.0M YoY-96.6%	951M YoY+4428.6%	21.0M YoY-51.2%	43.0M YoY+186.7%
Common stock repurchased	489M YoY+182.7%	173M YoY+179.0%	62.0M YoY-10.1%	69.0M YoY-95.6%	1.55B YoY-7.0%
Dividends paid	3.17B YoY+2.5%	3.09B YoY+4.1%	2.97B YoY+7.0%	2.78B YoY+7.6%	2.58B YoY+1.1%
Other financing activities	-86.0M YoY-56.4%	-55.0M	0.00	0.00	—
Net change in cash	-9.61B YoY-104.9%	-4.69B YoY-161.3%	7.65B YoY-68.9%	24.6B YoY+173.2%	-33.7B YoY-183.8%
Interest paid	14.4B YoY-6.5%	15.4B YoY+25.2%	12.3B YoY+352.0%	2.72B YoY+156.1%	1.06B YoY-51.8%
Income taxes paid	544M YoY+9.0%	499M YoY-22.6%	645M YoY-15.9%	767M YoY+43.4%	535M YoY-47.8%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	82.9B YoY+11.2%	74.6B YoY+10.7%	67.4B YoY+4.0%	64.8B YoY-22.2%	83.3B YoY+18.7%
P/E	11.0× YoY-7.5%	11.8× YoY-1.7%	12.0× YoY+22.2%	9.9× YoY-5.8%	10.5× YoY-26.1%
P/S	2.9× YoY+6.5%	2.7×	—	—	—
P/B	1.3× YoY-0.1%	1.3× YoY+2.0%	1.2× YoY-8.4%	1.4× YoY-10.1%	1.5× YoY+14.7%
P/FCF	10.4× YoY+58.3%	6.6× YoY+47.8%	4.4× YoY+2.5%	4.3× YoY-48.6%	8.4× YoY-55.3%
Earnings yield	9.1% YoY+8.1%	8.4% YoY+1.7%	8.3% YoY-18.2%	10.1% YoY+6.1%	9.6% YoY+35.3%
FCF yield	9.6% YoY-36.8%	15.2% YoY-32.4%	22.5% YoY-2.4%	23.0% YoY+94.5%	11.9% YoY+123.8%
Dividend yield	3.8% YoY-7.6%	4.1% YoY-7.2%	4.5% YoY+3.4%	4.3% YoY+37.6%	3.1% YoY-13.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: USB's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all USB filings on SEC EDGAR → Not investment advice.

USB▼ financial statements

About this data

financial statements