PNC Financial Services PNC

NYSE · National Commercial Banks · $93.1B

$226.75−2.87%Nov 5 close · Databento

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PNC Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $226.751D −2.87%3M −9.93%SMA20 $224.04SMA50 $228.99RSI(14) 50.0

226.75

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 50.0

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$93.1B

Enterprise value$110.5B

Revenue$23.1B +7.2%

EPS, diluted$16.59 +20.7%

Modern Valuation (EOD)

Market Cap$93.1B

Enterprise Value$110.5B

EV / True FCF—

EV / FCF—

EV / Gross Profit—

EV / EBIT—

EV / Sales4.78

P / E (GAAP)13.31

P / FCF—

P / Oper. CF21.24

P / Book1.54

Owner & Cash Yields

True FCF Yield—

FCF Yield—

Owner Earn. Yield—

Earnings Yield7.5%

Shareholder Yield+4.1%

Buyback Yield1.4%

Dividend Yield2.91%

Dividend / sh$6.60

Payout Ratio38%

FCF / sh—

EPS (diluted)$16.59

Compounder & Returns

Rule of 40—

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE11.5%

ROA1.2%

Gross Margin—

Oper. Margin—

Net Margin30.3%

FCF Margin—

True FCF Margin—

Quality & Dilution

Cash Conversion—

Accrual Ratio+0.5%

SBC % of FCF—

SBC % of Rev0.9%

Reinvest. Rate—

Sales Growth Y/Y+7.2%

Sales 3Y CAGR+3.0%

EPS Growth Y/Y+20.7%

FCF Growth Y/Y—

FCF 3Y CAGR—

Share Change Y/Y−1.0%

Balance Sheet & Scale

Revenue (FY)$23.1B

Gross Profit (FY)—

Oper. Income (FY)—

GAAP Net Income$7.0B

True FCF (ex-SBC)—

Cash & Equiv$39.7B

Total Debt$57.1B

Net Cash (Debt)$-17.4B

Net Cash % MCap−18.7%

Debt / FCF (yrs)—

Current Ratio—396.78M sh

Price & Technicals (EOD)

Perf Week−2.19%

Perf Month+4.15%

Perf Quarter−10.22%

Perf Half Y+3.40%

Perf YTD−0.12%

SMA 20 Dist+1.21%$224.04

SMA 50 Dist−0.98%$228.99

SMA 100 Dist−5.06%$238.84

Window High−11.76%$256.97

Window Low+8.05%$209.86

RSI (14) · Vol50.021%v

Income Distribution & Cash Flow ConversionHow every dollar of PNC revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

Operating Expenses$0 ($0.0 / $100)

Tax & Non-Operating$16.1B ($69.7 / $100)

Net Profit Kept$7.0B ($30.3 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$7.0B (30.3% margin)

Operating Cash Flow (OCF)$4.4B(19.0% of rev)

Less: Capital Expenditures—

Standard Free Cash Flow (FCF)—

Less: Stock-Based Comp (SBC)−$200.0M

True FCF (Owner Cash ex-SBC)—

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$19.2B	$21.1B	$21.5B	$21.6B	$23.1B	+7.2%	+4.7%
Interest Expense	$487.0M	$2.4B	$10.4B	—	$10.4B	—	+114.9%
Income Tax Expense	$1.3B	$1.4B	$1.1B	$1.3B	$1.5B	+15.5%	+4.2%
GAAP Net Income	$5.7B	$6.1B	$5.6B	$6.0B	$7.0B	+17.5%	+5.1%
Diluted EPS	$12.70	$13.85	$12.79	$13.74	$16.59	+20.7%	+6.9%
Diluted Shares	426.0M	412.0M	401.0M	400.0M	396.0M	−1.0%	−1.8%
Balance Sheet
Cash & Equivalents	$82.3B	$34.4B	$50.7B	$46.3B	$39.7B	−14.1%	−16.6%
Total Assets	$557.2B	$557.3B	$561.6B	$560.0B	$573.6B	+2.4%	+0.7%
Total Debt (Short + Long Term)	$79.8B	$58.7B	$72.7B	$61.7B	$57.1B	−7.4%	−8.0%
Total Liabilities	$501.5B	$511.5B	$510.4B	$505.6B	$512.9B	+1.5%	+0.6%
Stockholders' Equity	$55.7B	$45.8B	$51.1B	$54.5B	$60.6B	+11.3%	+2.1%
Net Cash / (Net Debt)	$2.5B	$-24.4B	$-22.0B	$-15.4B	$-17.4B	−12.7%	—
Invested Capital	$53.2B	$70.2B	$73.2B	$69.9B	$78.0B	+11.6%	+10.0%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$7.2B	$9.1B	$10.1B	$7.9B	$4.4B	−44.4%	−11.7%
Depreciation & Amortization (D&A)	$1.1B	$1.1B	$1.1B	$259.0M	$381.0M	+47.1%	−22.7%
Stock-Based Compensation (SBC)	—	—	—	—	$200.0M	—	—
Share Repurchases (Buybacks)	$1.1B	$3.7B	$651.0M	$687.0M	$1.3B	+94.8%	+5.5%
Dividends Paid	$2.1B	$2.4B	$2.5B	$2.5B	$2.6B	+3.9%	+6.4%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what PNC did at the next close after each story

No Wire story has named PNC yet.

What happened · big days

15 big days in a year, and what we hold on each

A big day is a close more than 2.50% from the one before, three times PNC’s median day (0.83%). On 11 of the 15, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±2.50%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayPNCWhat we hold that dayGroup (median of 4) · each

1 Nov 17, 2025−2.69%
Before our storiesgroup −2.0%, moved with PNC
1Nov 17, 2025−2.69%
Before our stories
−2.0% moved with PNCBAC −2.1 · C −2.1 · WFC −1.9 · JPM −1.1
2 Dec 3, 2025+3.10%
Before our storiesgroup +2.5%, moved with PNC
2Dec 3, 2025+3.10%
Before our stories
+2.5% moved with PNCWFC +3.5 · C +3.4 · BAC +1.7 · JPM +1.4
3 Jan 16, 2026+3.79%
Resultsgroup +0.6%, did not move with it
3Jan 16, 2026+3.79%
ResultsFirst close after the Jan 16 results filing
+0.6% did not move with itJPM +1.0 · BAC +0.7 · C +0.5 · WFC −0.7
4 Feb 3, 2026+2.72%
Before our storiesgroup +1.0%, did not move with it
4Feb 3, 2026+2.72%
Before our stories
+1.0% did not move with itJPM +2.2 · C +1.3 · BAC +0.8 · WFC +0.0
5 Feb 23, 2026−5.24%
Before our storiesgroup −4.1%, moved with PNC
5Feb 23, 2026−5.24%
Before our stories
−4.1% moved with PNCC −4.5 · JPM −4.2 · WFC −4.0 · BAC −3.8
6 Feb 27, 2026−4.70%
Before our storiesgroup −4.9%, moved with PNC
6Feb 27, 2026−4.70%
Before our stories
−4.9% moved with PNCWFC −5.6 · C −5.2 · BAC −4.7 · JPM −1.9
7 Mar 6, 2026−2.94%
Before our storiesgroup −2.1%, moved with PNC
7Mar 6, 2026−2.94%
Before our stories
−2.1% moved with PNCBAC −2.4 · C −2.2 · WFC −2.1 · JPM −1.4
8 Mar 31, 2026+3.19%
Before our storiesgroup +3.7%, moved with PNC
8Mar 31, 2026+3.19%
Before our stories
+3.7% moved with PNCC +5.7 · JPM +3.7 · WFC +3.7 · BAC +3.2
9 Apr 8, 2026+3.20%
Before our storiesgroup +3.5%, moved with PNC
9Apr 8, 2026+3.20%
Before our stories
+3.5% moved with PNCC +5.4 · WFC +3.6 · JPM +3.5 · BAC +3.2
10 Jun 4, 2026+4.04%
Before our storiesgroup +3.6%, moved with PNC
10Jun 4, 2026+4.04%
Before our stories
+3.6% moved with PNCC +4.0 · WFC +3.7 · BAC +3.4 · JPM +3.3
11 Jun 15, 2026−2.99%
Nothing on PNCgroup −0.3%, did not move with it
11Jun 15, 2026−2.99%
Nothing on PNCNo PNC story, brief or results filing in our record that day
−0.3% did not move with itWFC −0.7 · JPM −0.4 · BAC −0.3 · C +1.0
12 Jul 8, 2026−2.94%
Nothing on PNCgroup −2.5%, moved with PNC
12Jul 8, 2026−2.94%
Nothing on PNCNo PNC story, brief or results filing in our record that day
−2.5% moved with PNCBAC −2.6 · JPM −2.5 · C −2.4 · WFC −1.9
13 Aug 19, 2026−3.08%
Nothing on PNCgroup −1.7%, moved with PNC
13Aug 19, 2026−3.08%
Nothing on PNCNo PNC story, brief or results filing in our record that day
−1.7% moved with PNCC −3.5 · WFC −1.7 · JPM −1.6 · BAC −1.6
14 Sep 16, 2026−3.86%
Nothing on PNCgroup −2.5%, moved with PNC
14Sep 16, 2026−3.86%
Nothing on PNCNo PNC story, brief or results filing in our record that day
−2.5% moved with PNCWFC −3.0 · BAC −2.7 · C −2.4 · JPM −1.0
15 Nov 5, 2026−2.87%
Nothing on PNC
15Nov 5, 2026−2.87%
Nothing on PNCNo PNC story, brief or results filing in our record that day
No group that day

A story on the same day is not a cause, and a group move is not proof either. Group: the median of JPM, BAC, WFC and C that day, the largest companies in PNC’s SEC industry; “moved with PNC” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. Each time, day 6 ended on the same side as day 1.

Reported Nov 7, 2025

day 1+0.70%day 6+0.58%

Reported Jan 16, 2026

day 1+3.79%day 6+2.66%

Reported Apr 15, 2026

day 1+0.39%day 6+1.75%

Reported Jul 15, 2026

day 1+0.90%day 6+0.25%

Next report: expected mid October to early NovemberEstimated from the dates of its last four results filings. Not announced. Since the Jul 15 report: −9.98%. Four reports is a small sample.

Every report since 2023 →

Each line is PNC’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

PNC against four bank peers, a year at 100

PNC is up 23.1% in a year. Citigroup is up 23.8%. Of these four, JPMorgan Chase (+12.1%), Wells Fargo (+1.6%) and Bank of America (−3.0%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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PNC +23.1%. Citigroup +23.8%, JPMorgan Chase +12.1%, Wells Fargo +1.6%, Bank of America −3.0%. Weekly closes, Nov 7, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in PNC’s SEC industry (National Commercial Banks) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

JPM	JPMorgan Chase	$936.0B	−4.19%
BAC	Bank of America	$361.0B	−3.62%
WFC	Wells Fargo	$264.4B	−3.01%
C	Citigroup	$218.2B	−5.04%
COF	Capital One Financial	$126.6B	−1.20%
USB	US Bancorp de	$95.1B	−2.10%
TFC	Truist Financial	$62.1B	−2.02%
HBAN	Huntington Bancshares	$32.4B	−2.80%