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PNC

Latest: Q2 FY26 · Thesis page →
Revenue$6.9B+21.4% YoY
Net income$2.0B+25.4% YoY
Free cash flow—YoY n/a
Gross margin—

Revenue vs Net income

Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.

■ Revenue   ■ Net income
$0$2.5B$5.0B$7.4BQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
28%29%30%31%Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26

Revenue YoY growth

Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).

+9%+9%+13%+21%Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue$5.4B$5.6B$5.5B$5.7B$5.9B$6.1B$6.2B$6.9B
YoY————+8.9%+9.1%+13.1%+21.4%
Cost of goods sold————————
YoY————————
Gross profit————————
YoY————————
Research & development————————
YoY————————
Selling, general & administrative————————
YoY————————
Operating income————————
YoY————————
Pretax income$1.9B$1.9B$1.8B$2.0B$2.3B$2.3B$2.2B$2.6B
YoY————+22.8%+22.3%+18.5%+27.8%
Income tax$357.0M$278.0M$347.0M$381.0M$465.0M$296.0M$415.0M$531.0M
YoY————+30.3%+6.5%+19.6%+39.4%
Net income———$1.6B———$2.0B
YoY———————+25.4%
EPS — basic$3.50—$3.52$3.86$4.36—$4.13$4.82
YoY————+24.6%—+17.3%+24.9%
EPS — diluted$3.49—$3.51$3.85$4.35—$4.13$4.81
YoY————+24.6%—+17.7%+24.9%
Weighted shares — basic399.0M—398.0M397.0M396.0M—405.0M403.0M
Weighted shares — diluted400.0M—398.0M397.0M396.0M—405.0M403.0M

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Cash & equivalents————————
YoY————————
Marketable securities (current)————————
YoY————————
Accounts receivable————————
YoY————————
Inventory————————
YoY————————
Total current assets————————
YoY————————
Total assets$564.9B$560.0B$554.7B$559.1B$568.8B$573.6B$603.0B$616.0B
YoY————+0.7%+2.4%+8.7%+10.2%
Total current liabilities————————
YoY————————
Total liabilities$509.2B$505.6B$498.3B$501.5B$509.7B$512.9B$539.4B$552.0B
YoY————+0.1%+1.5%+8.2%+10.1%
Total equity$55.7B$54.4B$56.4B$57.6B$59.0B$60.6B$63.6B$64.0B
YoY————+5.9%+11.3%+12.8%+11.1%
Shares outstanding————————
YoY————————

Cash flow

Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.

Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Operating cash flow$3.3B$1.8B$-509.0M$1.5B$2.7B$757.0M$1.9B$2.1B
YoY————-19.2%-57.9%+478.8%+45.1%
Capital expenditures————————
YoY————————
Free cash flow————————
YoY————————
Dividends paid————————
YoY————————
Share repurchases$130.0M$221.0M$262.0M$336.0M$334.0M$406.0M$796.0M$622.0M
YoY————+156.9%+83.7%+203.8%+85.1%

Margins & ratios

Derived from the reported dollars above — no separate source.

Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Gross margin————————
Operating margin————————
Net margin———28.7%———29.7%
Free cash flow margin————————
Effective tax rate19.2%14.6%18.8%18.8%20.3%12.7%19.0%20.5%
Current ratio————————
Total liabilities / equity9.14x9.29x8.83x8.70x8.64x8.47x8.48x8.62x

Peer comparison — latest full year

Same sector (Financials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF margin
PNC FY25 · this stock$23.1B+7.2%————
JPM FY25$182.4B+2.8%——31.3%—
BAC FY25$113.1B+6.8%——27.0%—
PGR FY25$87.7B+16.3%——12.9%19.6%
C FY25$85.2B+5.6%——16.8%-87.0%
WFC FY25$83.7B+1.7%——25.5%—
MS FY25$70.6B+14.4%——23.9%—
CB FY25$59.4B+6.5%——17.4%—
GS FY25$58.3B+8.9%——29.5%-81.0%
AXP FY25$41.3B+6.4%——26.2%38.7%
V FY25$40.0B+11.3%—60.0%50.1%—

Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.