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U.S. Bancorp (USB) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Diversified Banks · DATA UPDATED 2026-07-13

U.S. Bancorp (USB) operates in the Diversified Banks industry and is headquartered in Minneapolis, United States with about 70,000 employees. Its market capitalization is roughly $100 billion. In the fiscal year ended 2025-12-31, USB reported $42.9B in revenue and $7.6B in net income.

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.

Interactive charts & full statements → Open the USB valuation workbench →

USB Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$43.3B	$42.9B	$42.7B	$40.6B	$27.4B	$23.7B	$25.2B	$27.3B	$25.8B	$23.7B	$22.4B	$21.2B	$21.4B	$21.1B	$22.2B	$21.4B	$20.5B	$19.5B	$19.2B	$20.4B	$19.2B
Gross Profit	$27.2B	$26.9B	$25.1B	$25.7B	$22.2B	$23.9B	$19.4B	$21.4B	$21.1B	$20.3B	$19.6B	$18.8B	$18.7B	$18.0B	$18.2B	$16.5B	$13.6B	$10.9B	$11.4B	$13.2B	$13.1B
Gross Margin %	62.8%	62.8%	58.8%	63.4%	81.0%	100.8%	76.9%	78.2%	82.0%	85.8%	87.5%	88.9%	87.5%	85.7%	81.9%	77.3%	66.2%	56.0%	59.5%	64.6%	68.4%
Operating Income (EBIT)	$10.0B	$9.5B	$7.9B	$6.9B	$7.3B	$10.2B	$6.1B	$8.6B	$8.7B	$7.5B	$8.1B	$8.0B	$8.0B	$7.8B	$7.7B	$6.6B	$4.2B	$2.6B	$4.1B	$6.3B	$6.9B
Operating Margin %	23.2%	22.2%	18.5%	16.9%	26.7%	42.9%	24.0%	31.4%	33.7%	31.8%	36.1%	37.9%	37.4%	36.9%	34.8%	31.0%	20.5%	13.5%	21.3%	30.8%	35.7%
Net Income	$7.8B	$7.6B	$6.3B	$5.4B	$5.8B	$8.0B	$5.0B	$6.9B	$7.1B	$6.2B	$5.9B	$5.9B	$5.9B	$5.8B	$5.6B	$4.9B	$3.3B	$2.2B	$2.9B	$4.3B	$4.8B
Net Margin %	18.0%	17.7%	14.8%	13.4%	21.3%	33.6%	19.7%	25.3%	27.5%	26.3%	26.3%	27.7%	27.4%	27.7%	25.4%	22.8%	16.2%	11.3%	15.3%	21.2%	24.7%
EBITDA	$10.5B	$10.3B	$8.8B	$7.9B	$7.9B	$10.7B	$6.6B	$9.1B	$9.1B	$8.0B	$8.6B	$8.5B	$8.5B	$8.3B	$8.3B	$7.2B	$4.8B	$3.2B	$4.7B	$6.9B	$7.5B
Earnings Per Share (EPS)	$5.02	$4.87	$4.04	$3.52	$3.91	$5.34	$3.28	$4.37	$4.33	$3.69	$3.42	$3.32	$3.23	$3.16	$2.98	$2.53	$1.73	$1.19	$1.68	$2.46	$2.63
Shares Outstanding (M)	1,555M	1,556M	1,561M	1,543M	1,490M	1,490M	1,510M	1,583M	1,638M	1,683M	1,724M	1,772M	1,813M	1,849M	1,896M	1,923M	1,921M	1,859M	1,757M	1,758M	1,804M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

USB Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$10.8B	$11.0B	$11.0B	$10.5B	$10.4B	$10.7B	$10.8B	$10.8B
Gross Profit	$6.7B	$7.3B	$6.7B	$6.5B	$6.4B	$6.4B	$6.3B	$6.3B
Gross Margin %	61.7%	66.8%	61.1%	61.5%	61.7%	60.2%	58.2%	58.1%
Operating Income (EBIT)	$2.7B	$2.5B	$2.5B	$2.3B	$2.2B	$2.1B	$2.1B	$2.1B
Operating Margin %	24.8%	23.1%	23.0%	21.8%	20.9%	19.8%	19.2%	19.0%
Net Income	$1.9B	$2.1B	$2.0B	$1.8B	$1.7B	$1.7B	$1.7B	$1.6B
Net Margin %	17.9%	18.7%	18.2%	17.2%	16.5%	15.6%	15.9%	14.8%
EBITDA	$2.6B	$2.7B	$2.7B	$2.5B	$2.4B	$2.3B	$2.3B	$2.3B
Earnings Per Share (EPS)	$1.25	$1.32	$1.29	$1.16	$1.10	$1.07	$1.10	$1.03
Shares Outstanding (M)	1,555M	1,556M	1,557M	1,559M	1,560M	1,560M	1,561M	1,561M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

USB Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$9.6B	$8.0B	$11.3B	$8.4B	$21.1B	$9.9B	$3.7B	$4.9B	$10.6B	$6.5B	$5.3B	$8.8B	$5.3B	$11.4B	$8.0B	$9.8B	$5.2B	$7.6B	$5.3B	$2.9B	$5.4B
Capital Expenditures (CapEx)	$0M	$0M	$0M	$6.0B	$0M	$661M	$556M	$0M	$0M	$0M	$0M	$0M	$13.6B	$14.0B	$16.0B	$15.7B	$8.8B	$1.7B	$18.2B	$10.2B	$7.3B
Free Cash Flow (FCF)	$9.6B	$8.0B	$11.3B	$2.4B	$21.1B	$9.2B	$3.2B	$4.9B	$10.6B	$6.5B	$5.3B	$8.8B	($8.2B)	($2.5B)	($8.0B)	($5.9B)	($3.5B)	$5.9B	($12.9B)	($7.3B)	($1.9B)
FCF Margin %	22.1%	18.6%	26.4%	6.0%	77.1%	38.8%	12.5%	17.9%	41.0%	27.4%	23.8%	41.4%	-38.5%	-12.0%	-36.2%	-27.4%	-17.2%	30.3%	-67.2%	-35.7%	-10.0%
Dividends Paid	$3.5B	$3.5B	$3.4B	$3.3B	$3.1B	$2.9B	$2.9B	$2.7B	$2.4B	$2.2B	$2.1B	$2.0B	$2.0B	$1.8B	$1.6B	$935M	$472M	$1.3B	$3.0B	$2.8B	$2.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

USB Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$1.3B	$2.8B	$3.4B	$2.0B	($285M)	$4.8B	$972M	$2.9B
Free Cash Flow (FCF)	$1.3B	$2.8B	$3.4B	$2.0B	($285M)	$4.8B	$972M	$2.9B
FCF Margin %	12.4%	25.8%	30.8%	19.3%	-2.8%	44.7%	9.0%	26.6%
Dividends Paid	$884M	$910M	$853M	$880M	$859M	$887M	$844M	$871M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

USB Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$701.0B	$692.3B	$678.3B	$663.5B	$674.8B	$573.3B	$553.9B	$495.4B	$467.4B	$462.0B	$446.0B	$421.9B	$402.5B	$364.0B	$353.9B	$340.1B	$307.8B	$281.2B	$265.9B	$237.6B	$219.2B
Cash & Cash Equivalents	$48.4B	$46.9B	$56.5B	$61.2B	$53.5B	$28.9B	$62.6B	$22.4B	$21.5B	$19.5B	$15.7B	$11.1B	$10.7B	$8.5B	$8.3B	$14.0B	$14.5B	$6.2B	$6.9B	$8.9B	$8.6B
Total Liabilities	$634.8B	$626.7B	$619.3B	$607.7B	$623.6B	$517.9B	$500.2B	$442.9B	$415.7B	$412.4B	$398.0B	$375.0B	$358.4B	$322.2B	$313.6B	$305.2B	$277.5B	$254.5B	$238.9B	$216.6B	$198.0B
Total Debt (Short + Long-Term)	$79.2B	$77.9B	$73.5B	$66.8B	$71.0B	$43.9B	$53.1B	$63.9B	$55.5B	$48.9B	$47.3B	$60.0B	$62.2B	$47.7B	$51.8B	$55.4B	$64.1B	$57.4B	$61.9B	$65.3B	$56.2B
Total Shareholders' Equity	$65.8B	$65.2B	$58.6B	$55.3B	$50.8B	$54.9B	$53.1B	$51.9B	$51.0B	$49.0B	$47.3B	$46.1B	$43.5B	$41.1B	$39.0B	$34.0B	$29.5B	$26.0B	$26.3B	$21.0B	$21.2B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive USB viewer.

Other Companies in Diversified Banks

BAC · Bank of America — $435 billion
WFC · Wells Fargo — $261 billion
C · Citigroup — $222 billion
PNC · PNC Financial Services — $100 billion
TFC · Truist Financial — $63 billion
JPM · JPMorgan Chase — $939 billion

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