U.S. Bancorp reported net income of approximately $5.8 billion for fiscal year 2024, recovering from a sharply lower 2023 result that was weighed by integration costs tied to the MUFG Union Bank acquisition. The bank has a long track record of industry-leading return on equity among large US regional banks.
Annual Earnings Of US Bancorp
| Year |
Net Income (USD) |
YoY Change |
| 2015 | $5.9B | — |
| 2016 | $5.9B | Flat |
| 2017 | $6.2B | +5.1% |
| 2018 | $7.0B | +12.9% |
| 2019 | $7.0B | Flat |
| 2020 | $4.9B | −30.0% |
| 2021 | $8.0B | +63.3% |
| 2022 | $6.0B | −25.0% |
| 2023 | $4.7B | −21.7% |
| 2024 | $5.8B | +23.4% |
US Bancorp P/E Ratio
| Year |
P/E Ratio |
YoY Change |
| 2015 | 13.6x | — |
| 2016 | 15.3x | +12.5% |
| 2017 | 14.6x | −4.6% |
| 2018 | 11.2x | −23.3% |
| 2019 | 13.7x | +22.3% |
| 2020 | 13.6x | −0.7% |
| 2021 | 11.0x | −19.1% |
| 2022 | 11.0x | Flat |
| 2023 | 11.7x | +6.4% |
| 2024 | 10.4x | −11.1% |
