U.S. Bancorp (USB) stock
Financials · Diversified Banks
U.S. Bancorp (USB) is a Diversified Banks company in the Financials sector, headquartered in Minneapolis, Minnesota. As of October 23, 2026, USB closed at $59.58, a market capitalization of $92.83 billion, the 131st largest company in the S&P 500. Over the last twelve months it generated $27.89 billion in revenue (+8% year over year) and $12.53 billion in free cash flow. The stock trades at 11.6x trailing earnings and 10.2x forward earnings.
- 1-year total return: +29.4% (dividends reinvested)
- 5-year return: +3.4% a year
- 52-week range: $45.02 – $66.08
- Gross margin 0.0%, operating margin 40.1%
- Dividend yield: 3.63%, 15 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 22nd largest of 76 Financials stocks in the S&P 500
USB price chart
1Y price change: +24.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| USB | +2.8% | +14.8% | +29.4% | +29.4% | +3.4% | +7.0% | +12.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1973.
USB key statistics
- Market cap
- $92.8B
- #131 in S&P 500
- P/E (TTM)
- 11.6x
- Forward P/E
- 10.2x
- EPS (TTM)
- $5.14
- Revenue (TTM)
- $27.9B
- +8%
- Free cash flow
- $12.5B
- Gross margin
- 0.0%
- Operating margin
- 40.1%
- Return on equity
- 12.8%
- Dividend yield
- 3.63%
- 52-week range
- $45.02 – $66.08
- Beta
- 1.02
- Price / sales
- 3.3x
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- 70,000
USB report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth8.4%C
- Gross margin0.0%F
- Operating margin40.1%A
- FCF margin44.9%A
- Return on equity12.8%C
- Net debt / EBITDA——
- Forward P/E10.2xA
- PEG ratio1.8xC
- Shareholder yield4.2%B
- Share count change / yr-1.5%B
U.S. Bancorp financials
Revenue went from $19.6B in fiscal 2013 to $28.7B in fiscal 2025, growing 3.2% a year.
| Fiscal year | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.6B | $20.2B | $20.3B | $21.3B | $21.9B | $22.6B | $24.3B | $28.1B | $27.5B | $28.7B |
| Net income | $5.8B | $5.9B | $5.9B | $5.9B | $6.2B | $7.1B | $5.8B | $5.4B | $6.3B | $7.6B |
| EPS (diluted) | $3.00 | $3.08 | $3.16 | $3.24 | $3.51 | $4.14 | $3.69 | $3.27 | $3.79 | $4.62 |
| Buybacks | $2.3B | $2.2B | $2.2B | $2.6B | $2.6B | $2.8B | $69.0M | $62.0M | $173.0M | $489.0M |
| Dividends paid | $1.6B | $1.7B | $1.8B | $1.8B | $1.9B | $2.1B | $2.8B | $3.0B | $3.1B | $3.2B |
| Diluted shares | 1.8B | 1.8B | 1.8B | 1.7B | 1.7B | 1.6B | 1.5B | 1.5B | 1.6B | 1.6B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into USB?
A reverse DCF asks what growth the current price requires. With an enterprise value of $116.3B and $12.5B of trailing free cash flow, U.S. Bancorp needs to grow free cash flow about -8.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 12.9x vs. median 13.5x (10th–90th percentile 10.3x–15.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
USB dividend
- Dividend yield
- 3.63%
- Annual dividend
- $2.16
- Years of increases
- 15
- 5-yr dividend growth
- 4.0%
- per year
- Payout ratio
- 42%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
USB analyst price targets
22 analysts' average 12-month target is $68.27 (+15% vs. $59.58). Targets range from $61.00 to $75.00. 67% rate it a buy.
USB earnings
Next report: January 19, 2027. U.S. Bancorp has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 15, 2026 | $1.32 | $1.34 | +1.7% |
| Jul 16, 2026 | $1.28 | $1.35 | +5.5% |
| Apr 16, 2026 | $1.14 | $1.18 | +3.3% |
| Jan 20, 2026 | $1.19 | $1.26 | +6.0% |
| Oct 16, 2025 | $1.12 | $1.22 | +9.0% |
| Jul 17, 2025 | $1.07 | $1.11 | +4.1% |
| Apr 16, 2025 | $0.97 | $1.03 | +5.7% |
| Jan 15, 2025 | $1.05 | $1.07 | +1.7% |
Stocks like USB
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 JPM JP Morgan Chase | -1.47% | +15% | $880.5B | 13.9x | Compare |
 BAC Bank of America | -1.02% | -0% | $350.0B | 12.1x | Compare |
 WFC Wells Fargo & | -0.75% | -0% | $247.3B | 11.6x | Compare |
 C Citigroup | -1.54% | +27% | $199.7B | 11.8x | Compare |
 PNC PNC Financial Services Group, I | -0.47% | +27% | $89.5B | 12.0x | Compare |
 TFC Truist Financial | +0.04% | +16% | $59.2B | 12.5x | Compare |
 BRK-B Berkshire Hathaway | -0.87% | +11% | $1.2T | 13.6x | Compare |
 V Visa | -1.55% | +19% | $765.8B | 34.7x | Compare |
USB news
- Changes to This $100 Billion Federal Drug Program Could Make Banks the Hidden Beneficiaries · Oct 21, 2026
- U.S. Bancorp’s Dividend Is Doing Its Job. Can the Stock Do Its Part? · Oct 20, 2026
- U.S. Bancorp: 3 Key Takeaways for Long-Term Investors · Oct 16, 2026
- U.S. Bancorp (USB) Stock Climbs As Q3 Earnings Reinforce Resilience · Oct 16, 2026
- USB Q3 Deep Dive: Fee Diversification and Deposit Growth Support Momentum · Oct 16, 2026
USB stock FAQ
What is USB's market cap?
U.S. Bancorp's market capitalization is $92.83 billion as of October 23, 2026, ranking 131st in the S&P 500.
What is USB's P/E ratio?
USB trades at a trailing price-to-earnings ratio of 11.6x and a forward P/E of 10.2x. Its median P/E over the period we track is 13.5x.
Does USB pay a dividend?
Yes. U.S. Bancorp pays $2.16 per share a year, a 3.63% yield. It has raised its dividend 15 years in a row. Dividends grew 4.0% a year over the last five years.
How much has USB stock returned?
Including reinvested dividends, USB returned +29.4% over one year, +3.4% a year over five years, +7.0% a year over ten years through October 23, 2026.
Is USB stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies U.S. Bancorp must grow free cash flow about -8% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the USB price target?
22 analysts cover USB with an average 12-month price target of $68.27, +15% from the current price. 67% of them rate it a buy.
When does USB report earnings?
U.S. Bancorp is expected to report earnings on January 19, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does U.S. Bancorp have?
U.S. Bancorp has about 70,000 full-time employees, or $398,371 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology