Us Bancorp Financials

USB

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

This page shows Us Bancorp (USB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Us Bancorp passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.79x

For every $1 of reported earnings, Us Bancorp generates $1.79 in operating cash flow ($11.3B OCF vs $6.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$27.5B

YoY-2.4%

5Y CAGR+9.4%

10Y CAGR+3.1%

Us Bancorp generated $27.5B in revenue in fiscal year 2024. This represents a decrease of 2.4% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$6.3B

YoY+16.0%

5Y CAGR-1.8%

10Y CAGR+0.7%

Us Bancorp reported $6.3B in net income in fiscal year 2024. This represents an increase of 16.0% from the prior year.

EPS (Diluted)

$3.79

YoY+15.9%

5Y CAGR-1.8%

10Y CAGR+2.1%

Us Bancorp earned $3.79 per diluted share (EPS) in fiscal year 2024. This represents an increase of 15.9% from the prior year.

Cash & Debt

$56.5B

YoY-7.7%

5Y CAGR+20.3%

Us Bancorp held $56.5B in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.98

YoY+2.6%

5Y CAGR+4.6%

10Y CAGR+7.5%

Us Bancorp paid $1.98 per share in dividends in fiscal year 2024. This represents an increase of 2.6% from the prior year.

Shares Outstanding

1.56B

YoY+0.1%

5Y CAGR+0.5%

10Y CAGR-1.3%

Us Bancorp had 1.56B shares outstanding in fiscal year 2024. This represents an increase of 0.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

22.9%

YoY+3.7pp

5Y CAGR-16.6pp

10Y CAGR-6.1pp

Us Bancorp's net profit margin was 22.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.

Return on Equity

10.8%

YoY+0.9pp

5Y CAGR-2.6pp

10Y CAGR-2.7pp

Us Bancorp's ROE was 10.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$173.0M

YoY+179.0%

5Y CAGR-47.9%

10Y CAGR-22.5%

Us Bancorp spent $173.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 179.0% from the prior year.

Capital Expenditures

N/A

USB Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$27.5B-2.4%	$28.1B+15.8%	$24.3B+80.2%	$13.5B-9.1%	$14.8B-15.2%	$17.5B
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	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$15.4B+21.9%	$12.6B+292.0%	$3.2B+224.0%	$993.0M-50.7%	$2.0B-54.6%	$4.4B
Income Tax	$1.6B+12.3%	$1.4B-3.8%	$1.5B-32.9%	$2.2B+104.6%	$1.1B-35.3%	$1.6B
Net Income	$6.3B+16.0%	$5.4B-6.8%	$5.8B-26.8%	$8.0B+60.6%	$5.0B-28.3%	$6.9B
EPS (Diluted)	$3.79+15.9%	$3.27-11.4%	$3.69-27.6%	$5.10+66.7%	$3.06-26.4%	$4.16

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$7.3B+4.6%	$7.0B+0.7%	$7.0B-0.7%	$7.0B+2.1%	$6.9B0.0%	$6.9B+2.3%	$6.7B-0.7%	$6.8B
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$3.7B+4.3%	$3.6B+3.8%	$3.4B-7.1%	$3.7B-6.7%	$4.0B-0.3%	$4.0B+4.8%	$3.8B+3.5%	$3.7B
Income Tax	$524.0M+11.0%	$472.0M+6.5%	$443.0M+1.1%	$438.0M+25.1%	$350.0M-21.3%	$445.0M+28.2%	$347.0M+149.6%	$139.0M
Net Income	$2.0B+10.2%	$1.8B+6.2%	$1.7B+2.8%	$1.7B-3.0%	$1.7B+6.9%	$1.6B+21.5%	$1.3B+55.7%	$847.0M
EPS (Diluted)	$1.22+9.9%	$1.11+7.8%	$1.03+2.0%	$1.01-1.9%	$1.03+6.2%	$0.97+24.4%	$0.78+62.5%	$0.48

USB Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$678.3B+2.2%	$663.5B-1.7%	$674.8B+17.7%	$573.3B+3.5%	$553.9B+11.8%	$495.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$56.5B-7.7%	$61.2B+14.3%	$53.5B+85.2%	$28.9B-53.8%	$62.6B+179.3%	$22.4B
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	$12.5B+0.4%	$12.5B+0.9%	$12.4B+20.6%	$10.3B+3.5%	$9.9B+2.7%	$9.7B
Total Liabilities	$619.3B+1.9%	$607.7B-2.5%	$623.6B+20.4%	$517.9B+3.5%	$500.2B+12.9%	$442.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$39.8B+24.0%	$32.1B-22.2%	$41.3B+2.8%	$40.2B
Total Equity	$58.6B+5.9%	$55.3B+8.9%	$50.8B-7.6%	$54.9B+3.4%	$53.1B+2.4%	$51.9B
Retained Earnings	$76.9B+3.8%	$74.0B+3.0%	$71.9B+3.9%	$69.2B+7.8%	$64.2B+1.6%	$63.2B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$695.4B+1.3%	$686.4B+1.5%	$676.5B-0.3%	$678.3B-1.2%	$686.5B+0.9%	$680.1B-0.5%	$683.6B+3.0%	$663.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$66.6B+15.3%	$57.8B+15.6%	$50.0B-11.5%	$56.5B-23.2%	$73.6B+11.7%	$65.8B-14.5%	$77.0B+25.8%	$61.2B
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	$12.6B0.0%	$12.6B+0.7%	$12.6B+0.2%	$12.5B-0.3%	$12.6B+0.8%	$12.5B0.0%	$12.5B-0.1%	$12.5B
Total Liabilities	$631.6B+1.1%	$624.5B+1.4%	$615.9B-0.5%	$619.3B-1.3%	$627.1B+0.6%	$623.2B-0.7%	$627.6B+3.3%	$607.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$30.8B+18.8%	$25.9B+8.9%	$23.8B-40.8%	$40.2B-2.7%	$41.3B+0.6%	$41.0B+0.8%	$40.7B+26.1%	$32.3B
Total Equity	$63.3B+3.1%	$61.4B+2.2%	$60.1B+2.6%	$58.6B-0.5%	$58.9B+4.3%	$56.4B+1.5%	$55.6B+0.5%	$55.3B
Retained Earnings	$79.7B+1.4%	$78.7B+1.2%	$77.7B+1.1%	$76.9B+1.1%	$76.1B+1.1%	$75.2B+1.0%	$74.5B+0.6%	$74.0B

USB Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$11.3B+33.5%	$8.4B-60.0%	$21.1B+114.0%	$9.9B+165.6%	$3.7B-24.0%	$4.9B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$24.5B-229.6%	$18.9B+152.3%	$7.5B+113.0%	-$57.5B-272.3%	-$15.4B+28.4%	-$21.6B
Financing Cash Flow	$8.6B+143.5%	-$19.7B-395.3%	-$4.0B-128.6%	$13.9B-73.1%	$51.9B+194.5%	$17.6B
Dividends Paid	$3.1B+4.1%	$3.0B+7.0%	$2.8B+7.6%	$2.6B+1.1%	$2.6B+4.5%	$2.4B
Share Buybacks	$173.0M+179.0%	$62.0M-10.1%	$69.0M-95.6%	$1.6B-7.0%	$1.7B-63.0%	$4.5B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$3.4B+66.8%	$2.0B+812.6%	-$285.0M-106.0%	$4.8B+390.3%	$972.0M-66.2%	$2.9B+8.0%	$2.7B+539.7%	$416.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$230.0M+116.8%	-$1.4B+46.2%	-$2.5B+80.2%	-$12.9B-893.8%	$1.6B+119.5%	-$8.3B-68.1%	-$5.0B-375.2%	$1.8B
Financing Cash Flow	$5.2B-26.9%	$7.1B+295.1%	-$3.7B+59.2%	-$9.0B-274.3%	$5.1B+190.1%	-$5.7B-131.5%	$18.1B+436.3%	-$5.4B
Dividends Paid	$784.0M0.0%	$784.0M-0.4%	$787.0M+0.3%	$785.0M+2.2%	$768.0M-0.1%	$769.0M-0.1%	$770.0M+2.5%	$751.0M
Share Buybacks	$101.0M-4.7%	$106.0M-33.8%	$160.0M+31.1%	$122.0M+12100.0%	$1.0M0.0%	$1.0M-98.0%	$49.0M+188.2%	$17.0M

USB 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	22.9%+3.7pp	19.3%-4.7pp	24.0%-35.1pp	59.0%+25.6pp	33.4%-6.1pp	39.5%
Return on Equity	10.8%+0.9pp	9.8%-1.7pp	11.5%-3.0pp	14.5%+5.2pp	9.3%-4.0pp	13.3%
Return on Assets	0.9%+0.1pp	0.8%-0.0pp	0.9%-0.5pp	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	10.57-0.4	10.99+10.2	0.78+0.2	0.58-0.2	0.780.0	0.77
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	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	27.3%+1.4pp	25.9%+1.3pp	24.6%+0.8pp	23.7%-1.2pp	25.0%+1.6pp	23.3%+3.7pp	19.6%+7.1pp	12.5%
Return on Equity	3.2%+0.2pp	2.9%+0.1pp	2.8%0.0pp	2.8%-0.1pp	2.9%+0.1pp	2.8%+0.5pp	2.4%+0.8pp	1.5%
Return on Assets	0.3%+0.0pp	0.3%0.0pp	0.3%0.0pp	0.3%0.0pp	0.3%+0.0pp	0.2%+0.0pp	0.2%+0.1pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.97-0.2	10.16-0.1	10.25-0.3	10.57-0.1	10.66-0.4	11.05-0.2	11.29+0.3	10.99
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Us Bancorp's annual revenue?

Us Bancorp (USB) reported $27.5B in total revenue for fiscal year 2024. This represents a -2.4% 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 Us Bancorp's revenue growing?

Us Bancorp (USB) revenue declined by 2.4% year-over-year, from $28.1B to $27.5B in fiscal year 2024.

Is Us Bancorp profitable?

Yes, Us Bancorp (USB) reported a net income of $6.3B in fiscal year 2024, with a net profit margin of 22.9%.

What is Us Bancorp's earnings per share (EPS)?

Us Bancorp (USB) reported diluted earnings per share of $3.79 for fiscal year 2024. This represents a 15.9% 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.

What is Us Bancorp's net profit margin?

Us Bancorp (USB) had a net profit margin of 22.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Us Bancorp pay dividends?

Yes, Us Bancorp (USB) paid $1.98 per share in dividends during fiscal year 2024.

What is Us Bancorp's return on equity (ROE)?

Us Bancorp (USB) has a return on equity of 10.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Us Bancorp's operating cash flow?

Us Bancorp (USB) generated $11.3B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Us Bancorp's total assets?

Us Bancorp (USB) had $678.3B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Us Bancorp buy back shares?

Yes, Us Bancorp (USB) spent $173.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Us Bancorp have outstanding?

Us Bancorp (USB) had 1.56B shares outstanding as of fiscal year 2024.

What is Us Bancorp's debt-to-equity ratio?

Us Bancorp (USB) had a debt-to-equity ratio of 10.57 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Us Bancorp's return on assets (ROA)?

Us Bancorp (USB) 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 Us Bancorp's Piotroski F-Score?

Us Bancorp (USB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Us Bancorp's earnings high quality?

Us Bancorp (USB) has an earnings quality ratio of 1.79x, 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.