USB · CIK 0000036104

US BANCORP \DE\

Annual figures as reported, FY2014–FY2025. Ratios and growth rates derived on-page.

Revenue

$28.7B

▲ +4.4% vs FY2024

Net income

$7.6B

▲ +20.2% vs FY2024

Operating cash flow

$8.0B

▼ −29.8% vs FY2024

Diluted EPS

$4.62

▲ +21.9% vs FY2024

Revenue

Annual, as reported

Net income

Annual, as reported

Recent quarters

momentum · last 12 quarters

Revenue — Jun ’26 quarter

$7.7B

▲ +10.1% vs Jun ’25

Net income — Jun ’26 quarter

$2.2B

▲ +19.9% vs Jun ’25

Revenue — trailing 12 months

$29.7B

▲ +6.7% vs Jun ’25

Diluted EPS — trailing 12 months

$5.01

▲ +19.9% vs Jun ’25

Quarterly revenue

Discrete quarters; Q4 derived from the annual figure

Quarterly net income

Discrete quarters; Q4 derived from the annual figure

Quarter	Revenue	Rev. YoY	Gross margin	Net income	Net margin	Diluted EPS
Jun ’26	$7.7B	10.1%	—	$2.2B	28.2%	$1.35
Mar ’26	$7.3B	4.7%	—	$1.9B	26.7%	$1.18
Dec ’25	$7.4B	5.1%	—	$2.0B	27.8%	$1.26
Sep ’25	$7.3B	6.8%	—	$2.0B	27.3%	$1.22
Jun ’25	$7.0B	2.0%	—	$1.8B	25.9%	$1.11
Mar ’25	$7.0B	3.6%	—	$1.7B	24.6%	$1.03
Dec ’24	$7.0B	3.7%	—	$1.7B	23.7%	$1.01
Sep ’24	$6.9B	−2.4%	—	$1.7B	25.0%	$1.03

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

Returns on capital

Net income vs year-end equity and assets

Return on equityReturn on assets

Cash flow

cash generation

Operating cash flow

Net cash from operations

Shareholder returns

capital allocation

Capital returned

Cash paid out as dividends and share repurchases

Dividends paidBuybacks

Diluted shares outstanding

Falling count means buybacks outpace dilution

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

Growth rates

compounding, annualized

Income statement

CAGR over 3, 5 and 10 years

Cash flow & share count

FCF compounding; share count as total change

Key ratios

derived per fiscal year

Fiscal year	Net margin	ROE	ROA	DPS
FY2025	26.4%	11.6%	1.1%	$2.04
FY2024	22.9%	10.8%	0.9%	$1.98
FY2023	19.3%	9.8%	0.8%	$1.93
FY2022	24.0%	11.5%	0.9%	$1.88
FY2021	—	14.5%	1.4%	$1.76
FY2020	—	9.3%	0.9%	$1.68
FY2019	—	13.3%	1.4%	$1.58
FY2018	31.3%	13.9%	1.5%	$1.34
FY2017	28.4%	12.7%	1.3%	$1.16
FY2016	27.6%	12.4%	1.3%	$1.07
FY2015	29.0%	12.7%	1.4%	$1.01
FY2014	29.0%	13.5%	1.5%	$0.96

Annual figures

as reported

Fiscal year	Revenue	Gross profit	Op. income	Net income	Diluted EPS	Op. cash flow	Capex	Total assets	Liabilities	Equity	Cash	LT debt
FY2025	$28.7B	—	—	$7.6B	$4.62	$8.0B	—	$692.3B	$626.7B	$65.2B	$46.9B	—
FY2024	$27.5B	—	—	$6.3B	$3.79	$11.3B	—	$678.3B	$619.3B	$58.6B	$56.5B	—
FY2023	$28.1B	—	—	$5.4B	$3.27	$8.4B	—	$663.5B	$607.7B	$55.3B	$61.2B	—
FY2022	$24.3B	—	—	$5.8B	$3.69	$21.1B	—	$674.8B	$623.6B	$50.8B	$53.5B	—
FY2021	—	—	—	$8.0B	$5.10	$9.9B	—	$573.3B	$517.9B	$54.9B	$28.9B	—
FY2020	—	—	—	$5.0B	$3.06	$3.7B	—	$553.9B	$500.2B	$53.1B	$62.6B	—
FY2019	—	—	—	$6.9B	$4.16	$4.9B	—	$495.4B	$442.9B	$51.9B	$22.4B	—
FY2018	$22.6B	—	—	$7.1B	$4.14	$10.6B	—	$467.4B	$415.7B	$51.0B	—	—
FY2017	$21.9B	—	—	$6.2B	$3.51	$6.5B	—	$462.0B	$412.4B	$49.0B	—	—
FY2016	$21.3B	—	—	$5.9B	$3.24	$5.3B	—	$446.0B	$398.0B	$47.3B	—	—
FY2015	$20.3B	—	—	$5.9B	$3.16	$8.8B	—	$421.9B	$375.0B	$46.1B	—	—
FY2014	$20.2B	—	—	$5.9B	$3.08	$5.3B	—	$402.5B	$358.4B	$43.5B	—	—

Latest filings

the most recent regulatory filings

424B3PRELIMINARY PRICING SUPPLEMENT2026-08-06 ↗10-QQuarterly report2026-08-06 ↗424B2PRICING SUPPLEMENT2026-08-05 ↗424B2PRICING SUPPLEMENT2026-08-04 ↗424B3PRELIMINARY PRICING SUPPLEMENT2026-08-04 ↗424B3PRELIMINARY PRICING SUPPLEMENT2026-08-03 ↗424B2PRICING SUPPLEMENT2026-08-03 ↗424B3PRELIMINARY PRICING SUPPLEMENT2026-08-03 ↗424B3PRELIMINARY PRICING SUPPLEMENT2026-08-03 ↗424B3PRELIMINARY PRICING SUPPLEMENT2026-08-03 ↗

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Quarter

Revenue

Rev. YoY

Gross margin

Net income

Net margin

Diluted EPS

Jun ’26

$7.7B

10.1%

—

$2.2B

28.2%

$1.35

Mar ’26

$7.3B

4.7%

—

$1.9B

26.7%

$1.18

Dec ’25

$7.4B

5.1%

—

$2.0B

27.8%

$1.26

Sep ’25

$7.3B

6.8%

—

$2.0B

27.3%

$1.22

Jun ’25

$7.0B

2.0%

—

$1.8B

25.9%

$1.11

Mar ’25

$7.0B

3.6%

—

$1.7B

24.6%

$1.03

Dec ’24

$7.0B

3.7%

—

$1.7B

23.7%

$1.01

Sep ’24

$6.9B

−2.4%

—

$1.7B

25.0%

$1.03

Fiscal year

Net margin

ROE

ROA

DPS

FY2025

26.4%

11.6%

1.1%

$2.04

FY2024

22.9%

10.8%

0.9%

$1.98

FY2023

19.3%

9.8%

0.8%

$1.93

FY2022

24.0%

11.5%

0.9%

$1.88

FY2021

—

14.5%

1.4%

$1.76

FY2020

—

9.3%

0.9%

$1.68

FY2019

—

13.3%

1.4%

$1.58

FY2018

31.3%

13.9%

1.5%

$1.34

FY2017

28.4%

12.7%

1.3%

$1.16

FY2016

27.6%

12.4%

1.3%

$1.07

FY2015

29.0%

12.7%

1.4%

$1.01

FY2014

29.0%

13.5%

1.5%

$0.96

Fiscal year

Revenue

Gross profit

Op. income

Net income

Diluted EPS

Op. cash flow

Capex

Total assets

Liabilities

Equity

Cash

LT debt

FY2025

$28.7B

—

$7.6B

$4.62

$8.0B

—

$692.3B

$626.7B

$65.2B

$46.9B

—

FY2024

$27.5B

—

$6.3B

$3.79

$11.3B

—

$678.3B

$619.3B

$58.6B

$56.5B

—

FY2023

$28.1B

—

$5.4B

$3.27

$8.4B

—

$663.5B

$607.7B

$55.3B

$61.2B

—

FY2022

$24.3B

—

$5.8B

$3.69

$21.1B

—

$674.8B

$623.6B

$50.8B

$53.5B

—

FY2021

—

$8.0B

$5.10

$9.9B

—

$573.3B

$517.9B

$54.9B

$28.9B

—

FY2020

—

$5.0B

$3.06

$3.7B

—

$553.9B

$500.2B

$53.1B

$62.6B

—

FY2019

—

$6.9B

$4.16

$4.9B

—

$495.4B

$442.9B

$51.9B

$22.4B

—

FY2018

$22.6B

—

$7.1B

$4.14

$10.6B

—

$467.4B

$415.7B

$51.0B

—

FY2017

$21.9B

—

$6.2B

$3.51

$6.5B

—

$462.0B

$412.4B

$49.0B

—

FY2016

$21.3B

—

$5.9B

$3.24

$5.3B

—

$446.0B

$398.0B

$47.3B

—

FY2015

$20.3B

—

$5.9B

$3.16

$8.8B

—

$421.9B

$375.0B

$46.1B

—

FY2014

$20.2B

—

$5.9B

$3.08

$5.3B

—

$402.5B

$358.4B

$43.5B

—