What is Pinnacle Financial Partners's earnings per share (EPS)?

Pinnacle Financial Partners (PNFPP) reported diluted earnings per share of $5.96 for fiscal year 2024. This represents a -16.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pinnacle Financial Partners Financials

PNFPP

Source SEC Filings (10-K/10-Q) Data as of Sep 30, 2025 Currency USD FYE December

This page shows Pinnacle Financial Partners (PNFPP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PNFPP FY2024 2026-04-22

Balance-sheet expansion is boosting scale, but funding costs are absorbing more of the benefit before it reaches shareholders.

From FY2023 to FY2024, operating cash flow nearly doubled to $904M even as net income slipped to $475M; reported profit became more cash-backed rather than less. That better cash conversion was offset higher up the capital structure, where interest expense reached $1.33B and helped push return on assets down to 0.9%.

Because total assets reached $52.6B against only $6.4B of equity in FY2024, this is a business whose economics are shaped more by leverage than by classic product margins. The debt-to-equity ratio moved from 6.6x in FY2022 to 7.2x, showing that recent expansion was funded mainly with liabilities rather than internally generated capital.

The company still looks capital-light on maintenance spending: free cash flow was $810M on capex of just $95M in FY2024. That helps explain why retained earnings kept rising to $3.18B even though net margin compressed to 17.6%; the operating model is not cash-hungry, but financing costs are eating into reported returns.

Financial Health Signals

Financial health score pending refresh

We are recalculating Pinnacle Financial Partners's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/6

Pinnacle Financial Partners passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.90x

For every $1 of reported earnings, Pinnacle Financial Partners generates $1.90 in operating cash flow ($904.3M OCF vs $475.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.7B

YoY+14.6%

5Y CAGR+20.4%

10Y CAGR+29.3%

Pinnacle Financial Partners generated $2.7B in revenue in fiscal year 2024. This represents an increase of 14.6% from the prior year.

EBITDA

N/A

Net Income

$475.1M

YoY-15.5%

5Y CAGR+3.5%

10Y CAGR+21.0%

Pinnacle Financial Partners reported $475.1M in net income in fiscal year 2024. This represents a decrease of 15.5% from the prior year.

EPS (Diluted)

$5.96

YoY-16.5%

5Y CAGR+2.7%

10Y CAGR+11.5%

Pinnacle Financial Partners earned $5.96 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 16.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$809.8M

YoY+102.4%

5Y CAGR+15.8%

10Y CAGR+24.7%

Pinnacle Financial Partners generated $809.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 102.4% from the prior year.

Cash & Debt

$3.4B

YoY+54.1%

5Y CAGR+45.5%

10Y CAGR+57.5%

Pinnacle Financial Partners held $3.4B in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

77M

YoY+0.6%

5Y CAGR+0.2%

10Y CAGR+8.0%

Pinnacle Financial Partners had 77M shares outstanding in fiscal year 2024. This represents an increase of 0.6% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

17.6%

YoY-6.3pp

5Y CAGR-19.9pp

10Y CAGR-16.6pp

Pinnacle Financial Partners's net profit margin was 17.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.3 percentage points from the prior year.

Return on Equity

7.4%

YoY-1.9pp

5Y CAGR-1.8pp

10Y CAGR-1.4pp

Pinnacle Financial Partners's ROE was 7.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$94.5M

YoY+20.8%

5Y CAGR+17.5%

10Y CAGR+32.0%

Pinnacle Financial Partners invested $94.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 20.8% from the prior year.

PNFPP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.7B+14.6%	$2.4B+71.3%	$1.4B+33.2%	$1.0B+1.0%	$1.0B-4.4%	$1.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$621.0M+16.8%	$531.8M+4.2%	$510.2M+17.0%	$436.0M+30.4%	$334.5M+6.7%	$313.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.3B+22.1%	$1.1B+346.1%	$244.6M+147.6%	$98.8M-50.4%	$199.3M-34.0%	$301.8M
Income Tax	$106.2M-30.1%	$151.9M+11.0%	$136.8M+9.8%	$124.6M+111.0%	$59.0M-38.9%	$96.7M
Net Income	$475.1M-15.5%	$562.2M+0.3%	$560.7M+6.3%	$527.3M+68.8%	$312.3M-22.1%	$400.9M
EPS (Diluted)	$5.96-16.5%	$7.14-0.4%	$7.17+6.2%	$6.75+67.5%	$4.03-22.8%	$5.22

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$721.2M+3.8%	$694.8M+4.0%	$668.2M-2.4%	$684.4M-1.5%	$694.9M+4.0%	$668.4M+2.8%	$650.5M+0.9%	$644.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$187.0M+3.2%	$181.2M+5.3%	$172.1M+4.5%	$164.7M+2.8%	$160.2M+6.7%	$150.1M+2.8%	$146.0M	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$324.4M+2.9%	$315.2M+3.8%	$303.7M-5.3%	$320.6M-6.6%	$343.4M+2.2%	$336.1M+1.1%	$332.4M+4.8%	$317.3M
Income Tax	$36.6M+2.3%	$35.8M+19.2%	$30.0M-7.8%	$32.5M-5.6%	$34.5M+191.0%	$11.8M-56.7%	$27.3M	N/A
Net Income	$173.1M+9.2%	$158.5M+12.9%	$140.4M-7.2%	$151.3M+3.1%	$146.7M+175.9%	$53.2M-57.1%	$123.9M+30.5%	$95.0M
EPS (Diluted)	$2.19+9.5%	$2.00+13.0%	$1.77	N/A	$1.86+190.6%	$0.64-59.2%	$1.57+31.9%	$1.19

PNFPP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$52.6B+9.7%	$48.0B+14.3%	$42.0B+9.1%	$38.5B+10.1%	$34.9B+25.6%	$27.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$3.4B+54.1%	$2.2B+89.4%	$1.2B-71.3%	$4.1B+3.5%	$4.0B+652.1%	$526.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.8B+0.1%	$1.8B0.0%	$1.8B+1.5%	$1.8B0.0%	$1.8B0.0%	$1.8B
Total Liabilities	$46.2B+10.1%	$41.9B+15.0%	$36.5B+9.9%	$33.2B+10.4%	$30.0B+28.1%	$23.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.4B+6.6%	$6.0B+9.4%	$5.5B+3.9%	$5.3B+8.3%	$4.9B+12.6%	$4.4B
Retained Earnings	$3.2B+14.0%	$2.8B+18.9%	$2.3B+25.6%	$1.9B+32.4%	$1.4B+18.9%	$1.2B

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$56.0T+2.1%	$54.8T+1.0%	$54.3T+3.2%	$52.6T+3.7%	$50.7T+2.7%	$49.4T+1.0%	$48.9T+1.9%	$48.0T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$3.3B+9.2%	$3.0B-22.9%	$3.9B+12.9%	$3.4B+21.3%	$2.8B+19.1%	$2.4B-12.1%	$2.7B+21.3%	$2.2B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.8T0.0%	$1.8T0.0%	$1.8T0.0%	$1.8T+0.1%	$1.8T0.0%	$1.8T0.0%	$1.8T0.0%	$1.8T
Total Liabilities	$49.1T+2.0%	$48.2T+0.9%	$47.7T+3.4%	$46.2T+4.1%	$44.4T+2.7%	$43.2T+0.9%	$42.8T+2.1%	$41.9T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.9B+3.3%	$6.6B+1.4%	$6.5B+1.7%	$6.4B+1.4%	$6.3B+2.7%	$6.2B+1.2%	$6.1B+1.1%	$6.0B
Retained Earnings	$3.6T+4.4%	$3.4T+4.1%	$3.3T+3.7%	$3.2T+4.3%	$3.0T+4.3%	$2.9T+1.1%	$2.9T+3.7%	$2.8T

PNFPP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$904.3M+89.0%	$478.4M-20.9%	$604.9M-8.0%	$657.4M+54.1%	$426.8M-1.1%	$431.5M
Capital Expenditures	$94.5M+20.8%	$78.3M+23.2%	$63.5M+174.1%	$23.2M-40.2%	$38.8M-8.0%	$42.2M
Free Cash Flow	$809.8M+102.4%	$400.1M-26.1%	$541.4M-14.6%	$634.3M+63.5%	$388.0M-0.3%	$389.3M
Investing Cash Flow	-$3.7B+20.2%	-$4.6B+31.1%	-$6.7B-85.0%	-$3.6B-1.3%	-$3.6B-36.4%	-$2.6B
Financing Cash Flow	$4.0B-23.2%	$5.2B+64.1%	$3.2B+1.9%	$3.1B-52.9%	$6.6B+230.5%	$2.0B
Dividends Paid	$69.0M+0.4%	$68.7M+0.8%	$68.2M+348.9%	$15.2M+100.0%	$7.6M-84.8%	$49.8M
Share Buybacks	N/A	N/A	$0	$0-100.0%	$50.8M-17.3%	$61.4M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$403.3M+54.1%	$261.7M+1306.6%	-$21.7M-104.3%	$499.9M+311.9%	$121.4M+41.7%	$85.7M-56.6%	$197.3M+84.1%	$107.1M
Capital Expenditures	$27.9M+62.7%	$17.1M-19.7%	$21.3M-14.5%	$25.0M-1.4%	$25.3M-5.8%	$26.9M+55.3%	$17.3M+5.7%	$16.4M
Free Cash Flow	$375.4M+53.5%	$244.6M+668.3%	-$43.0M-109.1%	$475.0M+394.5%	$96.0M+63.3%	$58.8M-67.3%	$180.0M+98.3%	$90.8M
Investing Cash Flow	-$898.9M+41.1%	-$1.5B-31.0%	-$1.2B+24.1%	-$1.5B-86.4%	-$822.6M-5.4%	-$780.4M-45.7%	-$535.7M+57.6%	-$1.3B
Financing Cash Flow	$771.3M+105.8%	$374.7M-77.0%	$1.6B-0.5%	$1.6B+41.5%	$1.2B+215.8%	$366.2M-55.0%	$814.4M+245.2%	$235.9M
Dividends Paid	$18.8M-0.5%	$18.9M+0.6%	$18.8M+9.1%	$17.3M+0.1%	$17.2M0.0%	$17.2M-0.1%	$17.3M+0.5%	$17.2M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PNFPP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.6%-6.3pp	23.9%-16.9pp	40.8%-10.3pp	51.1%+20.5pp	30.6%-7.0pp	37.5%
Return on Equity	7.4%-1.9pp	9.3%-0.8pp	10.2%+0.2pp	9.9%+3.6pp	6.4%-2.8pp	9.2%
Return on Assets	0.9%-0.3pp	1.2%-0.2pp	1.3%-0.0pp	1.4%+0.5pp	0.9%-0.5pp	1.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.18+0.2	6.95+0.3	6.60+0.4	6.24+0.1	6.12+0.7	5.38
FCF Margin	30.0%+13.0pp	17.0%-22.4pp	39.4%-22.1pp	61.5%+23.5pp	38.0%+1.5pp	36.5%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	24.0%+1.2pp	22.8%+1.8pp	21.0%-1.1pp	22.1%+1.0pp	21.1%+13.2pp	8.0%-11.1pp	19.1%+4.3pp	14.7%
Return on Equity	2.5%+0.1pp	2.4%+0.2pp	2.1%-0.2pp	2.4%+0.0pp	2.3%+1.4pp	0.9%-1.2pp	2.0%+0.5pp	1.6%
Return on Assets	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7162.48-94.2	7256.67-35.2	7291.86+115.5	7176.37+184.6	6991.78-3.3	6995.08-15.3	7010.38+64.5	6945.92
FCF Margin	52.0%+16.8pp	35.2%+41.6pp	-6.4%-75.8pp	69.4%+55.6pp	13.8%+5.0pp	8.8%-18.9pp	27.7%+13.6pp	14.1%

Frequently Asked Questions

What is Pinnacle Financial Partners's annual revenue?

Pinnacle Financial Partners (PNFPP) reported $2.7B in total revenue for fiscal year 2024. This represents a 14.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pinnacle Financial Partners's revenue growing?

Pinnacle Financial Partners (PNFPP) revenue grew by 14.6% year-over-year, from $2.4B to $2.7B in fiscal year 2024.

Is Pinnacle Financial Partners profitable?

Yes, Pinnacle Financial Partners (PNFPP) reported a net income of $475.1M in fiscal year 2024, with a net profit margin of 17.6%.

What is Pinnacle Financial Partners's net profit margin?

Pinnacle Financial Partners (PNFPP) had a net profit margin of 17.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Pinnacle Financial Partners's return on equity (ROE)?

Pinnacle Financial Partners (PNFPP) has a return on equity of 7.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Pinnacle Financial Partners's free cash flow?

Pinnacle Financial Partners (PNFPP) generated $809.8M in free cash flow during fiscal year 2024. This represents a 102.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pinnacle Financial Partners's operating cash flow?

Pinnacle Financial Partners (PNFPP) generated $904.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Pinnacle Financial Partners's total assets?

Pinnacle Financial Partners (PNFPP) had $52.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Pinnacle Financial Partners's capital expenditures?

Pinnacle Financial Partners (PNFPP) invested $94.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Pinnacle Financial Partners have outstanding?

Pinnacle Financial Partners (PNFPP) had 77M shares outstanding as of fiscal year 2024.

What is Pinnacle Financial Partners's debt-to-equity ratio?

Pinnacle Financial Partners (PNFPP) had a debt-to-equity ratio of 7.18 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pinnacle Financial Partners's return on assets (ROA)?

Pinnacle Financial Partners (PNFPP) had a return on assets of 0.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Pinnacle Financial Partners's Piotroski F-Score?

Pinnacle Financial Partners (PNFPP) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pinnacle Financial Partners's earnings high quality?

Pinnacle Financial Partners (PNFPP) has an earnings quality ratio of 1.90x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.