0000713676-26-000020
SEC filingThe PNC Financial Services Group, Inc. reported total revenue of $23.10 billion for fiscal year 2025, with net income of $7.00 billion and net income attributable to common shareholders of $6.62 billion. Net interest income of $14.41 billion and noninterest income of $8.69 billion drove revenue, while noninterest expense totaled $13.83 billion. The company maintained strong profitability with basic and diluted earnings per common share of $17. Total assets stood at $573.57 billion, with total deposits of $440.87 billion and total shareholders' equity of $60.59 billion. Operating activities generated $4.38 billion in cash, while investing activities used $15.62 billion and financing activities provided $4.70 billion, resulting in a net decrease in cash of $6.54 billion. The company's performance reflects its diversified revenue streams and disciplined expense management.
The PNC Financial Services Group, Inc. reported total revenue of $23.10 billion for fiscal year 2025, consisting of $14.41 billion in net interest income and $8.69 billion in noninterest income. Net income was $7.00 billion, with net income attributable to common shareholders of $6.62 billion after accounting for $61.0 million in noncontrolling interests, $308.0 million in preferred stock dividends, and $9.0 million in preferred stock discount accretion and redemptions. Basic and diluted earnings per common share both stood at $17. The company maintained a provision for credit losses of $779.0 million and recorded income taxes of $1.49 billion. Total noninterest expense was $13.83 billion, with personnel costs of $7.78 billion representing the largest component.
Revenue generation was balanced between interest and noninterest sources. Net interest income of $14.41 billion resulted from total interest income of $25.31 billion (comprising $18.47 billion from loans, $4.67 billion from investment securities, and $2.16 billion from other sources) minus total interest expense of $10.90 billion ($7.50 billion from deposits and $3.40 billion from borrowed funds). Noninterest income of $8.69 billion included contributions from card and cash management ($2.90 billion), asset management and brokerage ($1.60 billion), capital markets and advisory ($1.55 billion), lending and deposit services ($1.31 billion), residential and commercial mortgage ($571.0 million), and other income ($764.0 million). The other income component included securities losses of -$9.0 million and other items of $773.0 million.
The company demonstrated strong profitability with income before income taxes and noncontrolling interests of $8.49 billion. The revenue mix showed 62.4% from net interest income and 37.6% from noninterest income. Noninterest expense represented 59.9% of total revenue, with personnel costs accounting for 33.7% of total revenue. The provision for credit losses represented 3.4% of total revenue. Net income margin (net income divided by total revenue) was 30.3%. The company maintained disciplined expense management across all categories, with equipment costs of $1.61 billion, occupancy costs of $962.0 million, marketing expenses of $378.0 million, and other expenses of $3.11 billion.
Operating activities generated $4.38 billion in cash, primarily from net income of $7.00 billion adjusted for various items including $779.0 million provision for credit losses, $381.0 million in depreciation, amortization and accretion, and -$40.0 million in deferred income taxes benefit. Investing activities used $15.62 billion, driven by purchases of securities available-for-sale ($15.43 billion) and securities held-to-maturity ($6.66 billion), partially offset by repayments/maturities of securities held-to-maturity ($15.01 billion) and securities available-for-sale ($6.67 billion). Financing activities provided $4.70 billion, with net changes in interest-bearing deposits ($15.02 billion) and sales/issuances of senior debt ($8.03 billion) being major contributors. The balance sheet showed total assets of $573.57 billion, including loans of $331.48 billion (net of $4.41 billion allowance), investment securities of $138.25 billion, and cash and equivalents of $39.72 billion. Total liabilities were $512.94 billion, with total deposits of $440.87 billion and total borrowed funds of $57.10 billion. Total equity was $60.64 billion, including shareholders' equity of $60.59 billion.
The filing provides comprehensive financial data for fiscal year 2025 but does not include explicit forward-looking statements, management guidance, or specific strategic priorities for future periods within the provided content. The financial statements reflect the company's performance for the completed fiscal year, with detailed breakdowns of revenue sources, expense categories, balance sheet positions, and cash flow activities. Investors should review the complete 10-K filing for any additional disclosures regarding risk factors, regulatory considerations, or market conditions that may impact future performance. The company's strong capital position with $60.59 billion in shareholders' equity and diversified revenue streams provides a foundation for continued operations.