USB
SP100NYSEU.S. Bancorp
Financial Services · Banks - Regional · United States
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. The company operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments. It offers depository services, including checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products and credit card services, lease financing and import/export trade, agricultural finance, asset-backed lending, and other products. The company also provides cash management, capital markets, and trust and investment management services; and ancillary services comprising capital markets, treasury management, and receivable lock-box collection services to corporate and governmental entity customers. In addition, it offers asset management and fiduciary services for individuals, estates, foundations, business corporations, and charitable organizations; and investment and insurance products to its customers principally within its domestic markets, as well as fund administration services to mutual and other funds. Further, the company provides corporate and purchasing card, and corporate trust services; and credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing services. U.S. Bancorp was founded in 1863 and is headquartered in Minneapolis, Minnesota.
www.usbank.com ↗Shares trade at a low 12.9× trailing earnings, easing to 10.9× on forward estimates. Profitability shows a net margin of 29.3% and return on equity of 12.4%. Debt/equity stands at 1.26×. Revenue grew 4.6% year-on-year. It yields 3.4% in dividends. The mean analyst target of USD64.12 sits 3.9% above the current price (Buy, 20 analysts).
business model
U.S. Bancorp is a large regional/super-regional bank holding company (parent of U.S. Bank) offering consumer and commercial banking, payments/merchant processing, wealth management and corporate/investment services. It earns net interest income from lending and deposits plus substantial fee income, notably from payments.
revenue segments
Operates through business lines including Consumer and Business Banking, Wealth, Corporate, Commercial and Institutional Banking, and Payment Services (merchant acquiring, corporate payment systems, and card). Payments is a differentiating fee-income engine versus peer banks.
key dependencies
Depends on net interest margins and the rate environment, deposit funding and stability, loan credit quality, payments/merchant volumes, regulatory capital requirements, and integration of acquisitions such as MUFG Union Bank.
competitors
Competes with large national banks (JPMorgan, Bank of America, Wells Fargo), other super-regionals (PNC, Truist), and in payments with fintechs and processors (Fiserv, Global Payments, FIS).
moat
Scale and efficiency among regional banks, a differentiated payments/merchant-processing franchise generating recurring fee income, a broad deposit base, and diversified revenue that lowers reliance on spread income.
risks
Interest-rate and net-interest-margin pressure, credit losses (notably commercial real estate exposure), deposit competition and outflow risk, regulatory capital and compliance costs, integration risk, and competition from banks and fintechs in payments.
Financials & metrics
as of 24 Aug 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $28.54B | $27.34B | $28.01B | $24.18B | — |
| Interest expense | $14.32B | $15.38B | $12.61B | $3.22B | — |
| Pretax income | $9.52B | $7.91B | $6.87B | $7.30B | — |
| Tax provision | $1.92B | $1.58B | $1.41B | $1.46B | — |
| Net income | $7.57B | $6.30B | $5.43B | $5.83B | — |
| Diluted EPS | $4.62 | $3.79 | $3.27 | $3.69 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $692.35B | $678.32B | $663.49B | $674.80B | — |
| Cash & equivalents | $46.89B | $56.50B | $61.19B | $53.54B | — |
| Total liabilities | $626.69B | $619.28B | $607.72B | $623.57B | — |
| Total debt | $68.41B | $65.63B | $62.94B | $69.39B | — |
| Long-term debt | $60.76B | $58.00B | $51.48B | $39.83B | — |
| Shareholders' equity | $65.19B | $58.58B | $55.31B | $50.77B | — |
| Retained earnings | $80.91B | $76.86B | $74.03B | $71.90B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $7.97B | $11.35B | $8.39B | $21.12B | — |
| Investing cash flow | -$20.54B | -$24.53B | $18.93B | $7.50B | — |
| Financing cash flow | $2.25B | $8.82B | -$20.00B | -$3.98B | — |
| Free cash flow | $7.97B | $11.35B | $8.39B | $21.12B | — |
| Dividends paid | -$3.50B | -$3.45B | -$3.31B | -$3.08B | — |
| Share buybacks | -$489.00M | -$173.00M | -$62.00M | -$1.17B | — |
| End cash position | $46.89B | $56.50B | $61.19B | $53.54B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 24 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 24 Aug 2026News
Sector peers
Notes & alerts
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