USB

MKT CAP:$86B

U.S. Bancorp

Market Cap

$86B

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$55.43+$1.50 (+2.78%)

Apr 24, 2026

Company Details

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Cor...

CEO

Gunjan Kedia

IPO Date

May 3, 1973

Website

www.usbank.com

Key Metrics TTM

Revenue

$43.3B

+1.7% YoY

Net Income

$7.8B

EPS (Diluted)

$4.76

Free Cash Flow

$8.0B

Revenue / Share

$27.87

Gross Margin

62.8%

Operating Margin

23.2%

Net Margin

18.0%

FCF Margin

18.4%

P/S

2.0x

P/E

11.0x

Earnings Reports

Q1 2026

Apr 8, 2026

$10.8B+4.7%EPS $1.18

FY 2025

Feb 23, 2026

$42.9B+0.3%EPS $4.61

Q4 2025

Feb 23, 2026

$11.0B+2.9%EPS $1.26

Q3 2025

Nov 4, 2025

$11.0B+2.0%EPS $1.21

Q2 2025

Aug 7, 2025

$10.5B-2.5%EPS $1.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$6.4B	$5.7B	$1.9B
Q3 22	$7.2B	$5.9B	$2.3B
Q4 22	$8.0B	$5.1B	$1.1B
Q1 23	$9.5B	$6.7B	$2.2B
Q2 23	$10.3B	$6.3B	$1.8B
Q3 23	$10.5B	$6.5B	$2.0B
Q4 23	$10.4B	$6.2B	$1.0B
Q1 24	$10.5B	$6.1B	$1.7B
Q2 24	$10.8B	$6.3B	$2.1B
Q3 24	$10.8B	$6.3B	$2.1B
Q4 24	$10.7B	$6.4B	$2.1B
Q1 25	$10.4B	$6.4B	$2.2B
Q2 25	$10.5B	$6.5B	$2.3B
Q3 25	$11.0B	$6.7B	$2.5B
Q4 25	$11.0B	$7.3B	$2.5B
Q1 26	$10.8B	$6.7B	$2.7B

Valuation

Quarter	P/S	P/E
Q2 22	2.9x	10.3x
Q3 22	2.5x	9.5x
Q4 22	2.6x	12.3x
Q1 23	1.8x	9.2x
Q2 23	1.5x	9.0x
Q3 23	1.3x	9.1x
Q4 23	1.7x	12.6x
Q1 24	1.6x	13.6x
Q2 24	1.5x	11.6x
Q3 24	1.7x	13.0x
Q4 24	1.8x	11.9x
Q1 25	1.5x	9.8x
Q2 25	1.7x	10.2x
Q3 25	1.8x	10.6x
Q4 25	2.0x	11.2x
Q1 26	1.8x	10.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$8.5B	$8.5B
Q2 22	$2.2B	$2.2B
Q3 22	$3.5B	$3.5B
Q4 22	$6.9B	$6.9B
Q1 23	$842M	$842M
Q2 23	$3.3B	$3.3B
Q3 23	$3.9B	$3.9B
Q4 23	$416M	$416M
Q1 24	$2.7B	$2.7B
Q2 24	$2.9B	$2.9B
Q3 24	$972M	$972M
Q4 24	$4.8B	$4.8B
Q1 25	-$285M	-$285M
Q2 25	$2.0B	$2.0B
Q3 25	$3.4B	$3.4B
Q4 25	$2.8B	$2.8B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+6.2%	+27.8%
Q3 22	+17.9%	+39.8%
Q4 22	+36.1%	+84.3%
Q1 23	+62.9%	+89.5%
Q2 23	+60.9%	+92.1%
Q3 23	+46.1%	+74.8%
Q4 23	+29.5%	+35.7%
Q1 24	+10.5%	+20.2%
Q2 24	+5.3%	+2.9%
Q3 24	+2.5%	+1.7%
Q4 24	+2.7%	-8.8%
Q1 25	-1.1%	-6.8%
Q2 25	-2.5%	-5.8%
Q3 25	+2.0%	-2.7%
Q4 25	+2.9%	-1.3%
Q1 26	+4.7%	-0.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$2.2B	$106M
Q3 22	$2.3B	$126M
Q4 22	$2.4B	$144M
Q1 23	$2.6B	$122M
Q2 23	$2.6B	$122M
Q3 23	$2.6B	$176M
Q4 23	$2.5B	$306M
Q1 24	$2.7B	$136M
Q2 24	$2.6B	$158M
Q3 24	$2.6B	$165M
Q4 24	$2.6B	$160M
Q1 25	$2.6B	$182M
Q2 25	$2.6B	$161M
Q3 25	$2.6B	$175M
Q4 25	$4.0B	$187M
Q1 26	$3.0B	$217M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$39.1B	$97.8B	$136.9B
Q3 22	$41.7B	$67.7B	$109.3B
Q4 22	$53.5B	$72.1B	$125.6B
Q1 23	$67.2B	$64.9B	$132.1B
Q2 23	$70.6B	$69.0B	$139.6B
Q3 23	$64.4B	$67.0B	$131.3B
Q4 23	$61.2B	$69.4B	$130.6B
Q1 24	$77.0B	$72.2B	$149.1B
Q2 24	$65.8B	$80.2B	$146.0B
Q3 24	$73.6B	$82.1B	$155.7B
Q4 24	$56.5B	$86.4B	$142.9B
Q1 25	$50.0B	$86.3B	$136.4B
Q2 25	$57.8B	$90.3B	$148.1B
Q3 25	$66.6B	$89.0B	$155.7B
Q4 25	$46.9B	$90.8B	$137.7B
Q1 26	$48.4B	$168.9B	$217.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	1.49B	+0.1%	-0.2%
Q3 22	1.49B	-0.1%	+0.1%
Q4 22	1.50B	+1.0%	+1.1%
Q1 23	1.53B	+2.1%	+3.1%
Q2 23	1.53B	+0.1%	+3.1%
Q3 23	1.55B	+1.0%	+4.2%
Q4 23	1.56B	+0.6%	+3.8%
Q1 24	1.56B	+0.1%	+1.8%
Q2 24	1.56B	+0.1%	+1.8%
Q3 24	1.56B	0.0%	+0.8%
Q4 24	1.56B	-0.1%	+0.1%
Q1 25	1.56B	0.0%	+0.1%
Q2 25	1.56B	-0.1%	-0.1%
Q3 25	1.56B	-0.1%	-0.3%
Q4 25	1.56B	-0.1%	-0.3%
Q1 26	1.55B	-0.1%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$92.6K	69K
Q3 22	$104.6K	69K
Q4 22	$102.5K	78K
Q1 23	$121.1K	78K
Q2 23	$131.1K	78K
Q3 23	$134.5K	78K
Q4 23	$137.6K	75K
Q1 24	$138.7K	75K
Q2 24	$143.1K	75K
Q3 24	$142.9K	75K
Q4 24	$151.8K	70K
Q1 25	$147.3K	70K
Q2 25	$149.8K	70K
Q3 25	$156.6K	70K
Q4 25	$160.2K	69K
Q1 26	$158.1K	69K

Revenue / Employee