PNC Financial Services (PNC)
Forward P/E is 10.91x against a peer median of 10.45x, a ratio of 1.04x — inside the 0.90–1.15 fairly priced band — with trailing P/E 12.12x and PEG 0.87. Latest-quarter revenue grew 21.4% year over year (PRIMARY, EDGAR), well above the cluster pace, which supports the small premium over the peer median. Delivered demand check: the Banks group's median growth was 8.4% year over year — demand steady.
What would change this label: Move to UNDERVALUED if the forward P/E compresses to about 9.41x or below (0.90x the peer median) at unchanged estimates with revenue growth holding above 8.4% year over year. Move to OVERVALUED if the forward P/E rises above about 12.02x (1.15x the peer median) without a matching upgrade to growth, or if revenue growth falls below 0% year over year while the multiple stays above 10.45x.
PNC trades at about 11 times next year's expected earnings, a little above similar banks at about 10.5 times, and its revenue grew about 21% in the latest quarter. The small extra cost is covered by that strong growth. The shares look fairly priced.
Both lines start at 100 on 2020-09-01. Over the full window PNC Financial Services returned +103.89% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for PNC Financial Services: -51.5% (2022-01-13 to 2023-10-23). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 10.91x against a peer median of 10.45x, a ratio of 1.04x — inside the 0.90–1.15 fairly priced band — with trailing P/E 12.12x and PEG 0.87. Latest-quarter revenue grew 21.4% year over year (PRIMARY, EDGAR), well above the cluster pace, which supports the small premium over the peer median. Delivered demand check: the Banks group's median growth was 8.4% year over year — demand steady. The company’s forward P/E is 10.9× against a peer median of 10.4×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Banks group's median latest-quarter revenue growth was 8.4% year over year (SEC filings) — demand steady. Latest-quarter sales growth was +21.4% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| PNC Financial Services (PNC) | $227.73 | 10.9× | 12.1× |
| USB | $59.79 | 10.4× | 11.6× |
| TFC | $48.59 | 10.2× | 12.5× |
| FITB | $53.52 | 11.0× | 18.4× |
| MTB | $220.78 | 10.8× | 11.5× |
| HBAN | $15.75 | 9.4× | 12.9× |
| Peer median | 10.4× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
This company does not report a gross-profit line in its SEC facts (normal for banks, payment networks and some health insurers), so profit is shown as net income instead — gross margin is marked UNVERIFIED-absent rather than estimated.
Free cash flow by quarter is not shown for PNC Financial Services. Its SEC cash-flow facts do not separately tag spending on plant and equipment (normal for a bank), so a quarterly free-cash-flow figure cannot be built without estimating — and this programme does not estimate.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jun 2026 2026-06-30 | $6.9B | — | $2.0B | 4.81 | — |
| Q/E Mar 2026 2026-03-31 | $6.2B | — | $1.7B | 4.13 | — |
| Q/E Dec 2025 2025-12-31 | $6.1B | — | $1.9B | — | — |
| Q/E Sep 2025 2025-09-30 | $5.9B | — | $1.7B | 4.35 | — |
| Q/E Jun 2025 2025-06-30 | $5.7B | — | $1.6B | 3.85 | — |
| Q/E Mar 2025 2025-03-31 | $5.5B | — | $1.4B | 3.51 | — |
| Q/E Dec 2024 2024-12-31 | $5.6B | — | $1.5B | — | — |
| Q/E Sep 2024 2024-09-30 | $5.4B | — | $1.4B | 3.49 | — |
| Q/E Jun 2024 2024-06-30 | $5.4B | — | $1.4B | 3.39 | — |
| Q/E Mar 2024 2024-03-31 | $5.1B | — | $1.2B | 3.10 | — |
| Q/E Dec 2023 2023-12-31 | $5.4B | — | $740M | — | — |
| Q/E Sep 2023 2023-09-30 | $5.2B | — | $1.4B | 3.60 | — |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | PNC FINANCIAL SERVICES GROUP, INC. |
| Chief executive | Bill Demchak (source: https://WWW.FOOL.COM/earnings/call-transcripts/2026/10/15/pnc-pnc-q3-2026-earnings-call-transcript/) |
| Sector | Financials — Diversified Banks — runs a diversified bank offering consumer, commercial and corporate banking services |
| Share price (Oct 28, 2026) | $227.73 |
| Market value (market cap) | $90.8B — share price times shares outstanding of 398,943,667 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $25.0B |
| Net income, last twelve months | $7.4B |
| Free cash flow, last twelve months | — |
| Latest reported quarter | Q/E Jun 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | +103.89% vs +118.28% |
| Worst peak-to-trough fall | -51.5% (2022-01-13 to 2023-10-23) |
What we could not verify
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Free cash flow is absent for one or more quarters: either the filer does not separately tag PP&E purchases in its EDGAR cash-flow facts (common for banks), or — for a successor registrant's newest quarter — the cash-flow lines are year-to-date without the prior-quarter rung needed to difference them. Affected quarters are null in the data, never estimated.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000713676.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000713676.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/PNC/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.