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Company file · PNC

PNC Financial Services

PNC Financial Services' revenue rose 7.2% in FY2025, to $23.1B, and net income rose 17.5% to $7.0B

Revenue rose 7.2% to $23.1B in FY2025, from $21.6B in FY2024. Net income rose 17.5% to $7.0B. Retail Banking was the largest segment, at 64% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 20, 2026) · Latest quarter: 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026) · Data pulled Oct 29, 2026

Key facts

PNC Financial Services (NYSE: PNC) reported revenue of $23.1B for fiscal 2025, the year ended Dec 31, 2025, up 7.2% from fiscal 2024. Net income was $7.0B, up 17.5%. In its latest 10-Q, for the quarter ended Jun 30, 2026, revenue was $6.9B, up 21.4% from the same quarter a year earlier, and net income was $2.1B. Sources: 10-K for fiscal 2025 (filed Feb 20, 2026) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026).

Revenue$23.1BFY2025 · +7.2% vs FY2024
Net income$7.0BFY2025 · +17.5% vs FY2024
Revenue and net income, three fiscal yearsBy fiscal year, $bn
RevenueNet income
Revenue and net income by fiscal yearRevenue FY2023: $21.5B21.5Net income FY2023: $5.6B5.6FY2023Revenue FY2024: $21.6B21.6Net income FY2024: $6.0B6.0FY2024Revenue FY2025: $23.1B23.1Net income FY2025: $7.0B7.0FY2025

Source: 10-K FY2025, filed Feb 20, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q2, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly revenue, fiscal 2026 vs 2025FY2025 Q1: $5.5B5.5FY2026 Q1: $6.2B6.2Q1FY2025 Q2: $5.7B5.7FY2026 Q2: $6.9B6.9Q2

Source: 10-Q filed May 5, 2026 · 10-Q filed Aug 5, 2026

How it makes money

By segment in FY2025: Retail Banking (64%) and Asset Management Group (7%), as shares of total revenue; the rest of revenue isn't part of this breakdown. Total revenue was $23.1B.

By segment, FY2025

Retail Banking$14.9B64%+2.2%
Asset Management Group$1.7B7%+9.5%

Share is of FY2025 revenue; the items listed don't cover all of it. The last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q2 2026 (Apr to Jun 2026) compared with Q2 2025 (Apr to Jun 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q2 2026Q2 2025

Company

Revenue
$6.9B Q2 2026
$5.7B Q2 2025
21.4% increase
Net income
$2.1B Q2 2026
$1.6B Q2 2025
25.1% increase

Source: PNC Financial Services 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026

The bull case and the bear case

The bull case

  • Revenue rose 7.2% in FY2025 to $23.1B, from $21.6B a year earlier. 10-K, FY2025
  • Net income rose 17.5% in FY2025 to $7.0B, from $6.0B. 10-K, FY2025
  • Diluted shares fell 1.0% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
  • Revenue in the quarter ended Jun 30, 2026 was $6.9B, up 21.4% on a year earlier. 10-Q, quarter ended Jun 30, 2026

The bear case

  • The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include credit losses; interest rates; regulation and capital. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

PNC Financial Services is in the diversified banks industry, part of the financials sector. The SEC files it under National Commercial Banks.

PNC Financial Services reports 2 segments: Retail Banking and Asset Management Group.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the diversified banks industry. They are not a summary of PNC Financial Services’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

  1. Credit lossesBorrowers who can't repay cause losses, especially in a downturn.
  2. Interest ratesChanges in rates move what it earns on loans and pays on deposits.
  3. Regulation and capitalCapital, liquidity and conduct rules affect what it can do and what it costs.
  4. Deposits and fundingCustomers can move deposits, which raises funding costs.
  5. Competition and technologyBanks, fintech firms and card networks compete for customers.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2023FY2024FY2025
Revenue$21.5B$21.6B$23.1B
Net income$5.6B$6.0B$7.0B
Diluted shares401M400M396M
  • Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
  • Net income: Net income including the share that belongs to minority owners of subsidiaries.
  • Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator

About these numbers

  • Net income here includes the share that belongs to minority owners of subsidiaries, the figure the company's tagged data carries for the whole business.
  • PNC Financial Services' revenue is the total revenue figure in its filings. For financial companies it can combine interest, fees, premiums and other income, so it isn't directly comparable with revenue at companies that sell products.
  • The segment chart covers only part of revenue: the company reports other lines that aren't part of this breakdown.

What we left out

  • Operating cash flow, total debt and cash are left out: for this kind of financial company they mostly reflect lending, trading or investing flows and say little about the business, and they aren't comparable with other companies'.

Recent filings

FormFiledPeriod
10-QAug 5, 2026Jun 30, 2026
10-QMay 5, 2026Mar 31, 2026
DEF 14AMar 11, 2026Apr 22, 2026
10-KFeb 20, 2026Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about PNC Financial Services

How does PNC Financial Services make money?

PNC Financial Services's revenue was $23.1B in fiscal 2025. By segment in FY2025: Retail Banking (64%) and Asset Management Group (7%), as shares of total revenue; the rest of revenue isn't part of this breakdown. Total revenue was $23.1B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

What was PNC Financial Services's revenue in fiscal 2025?

$23.1B of revenue for the fiscal year ended Dec 31, 2025, up 7.2% from $21.6B in fiscal 2024. Fiscal 2023 was $21.5B. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

Is PNC Financial Services profitable?

PNC Financial Services reported net income of $7.0B for fiscal 2025, up 17.5% from $6.0B in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Jun 30, 2026, net income was $2.1B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 20, 2026.

What did PNC Financial Services report in its latest quarterly filing?

Revenue was $6.9B in the quarter ended Jun 30, 2026, up 21.4% from $5.7B a year earlier. Net income was $2.1B, up 25.1% from $1.6B. Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026.

What are the main risks PNC Financial Services faces?

PNC Financial Services's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 20, 2026. Risks that are common among companies in the diversified banks industry include Credit losses; interest rates; regulation and capital; deposits and funding; competition and technology. The first: Borrowers who can't repay cause losses, especially in a downturn. Source: 10-K, Item 1A Risk Factors.

Where do these PNC Financial Services numbers come from?

From PNC Financial Services's own SEC filings: the 10-K for fiscal 2025 (filed Feb 20, 2026) and the 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in PNC
The editor holds no position in PNC Financial Services (PNC). As of Oct 25, 2026.
Trading rule
The editor does not buy or sell PNC from 3 days before to 3 days after this page is published or substantively updated.
Compensation
Nobody paid for this page. No affiliate links on this page.
Sources
The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated
Oct 29, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold PNC, and it doesn't consider your situation.

Compare with peers

CompanyFiscal yearRevenueRevenue growthNet income
PNC Financial ServicesPNCFY2025$23.1B+7.2%$7.0B
JPMorgan ChaseJPMFY2025$182.4B+2.8%$57.0B
Bank of AmericaBACFY2025$113.1B+6.8%$30.5B
Wells FargoWFCFY2025$83.7B+1.7%$21.3B
CitigroupCFY2025$85.2B+5.6%$14.3B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.