Start with its own history
At 12.85×, PNC is 10.5% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · PNCBanks - RegionalUpdated Nov 5, 2026
The PNC Financial Services Group, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
12.85×
10.5% belowthe 10-year annual average
Share price233.45
÷Earnings per share18.17
Price and EPS in quote currency. Calculation details
Investors are paying 12.85 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 14.36×
3-year average12.89×3 positive annual observations
5-year average13.17×5 positive annual observations
10-year average14.36×10 positive annual observations
Peer median · TTM12.17×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 12.56× | -10.4% |
| Dec 31, 2024 | 14.02× | +15.9% |
| Dec 31, 2023 | 12.10× | +6.2% |
| Dec 31, 2022 | 11.40× | -27.8% |
| Dec 31, 2021 | 15.78× | -32.7% |
| Dec 31, 2020 | 23.43× | +67.7% |
| Dec 31, 2019 | 13.97× | +28.9% |
| Dec 31, 2018 | 10.84× | -21.2% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 13.76× | -12.7% |
| Dec 31, 2016 | 15.76× | +24.4% |
| Dec 31, 2015 | 12.67× | +3.4% |
| Dec 31, 2014 | 12.26× | +18.2% |
| Dec 31, 2013 | 10.37× | -4.7% |
| Dec 31, 2012 | 10.88× | +7.5% |
| Dec 31, 2011 | 10.12× | -3.4% |
| Dec 31, 2010 | 10.47× | -12.7% |
| Dec 31, 2009 | 12.00× | -38.8% |
| Dec 31, 2008 | 19.60× | +31.4% |
| Dec 31, 2007 | 14.92× | +79.2% |
| Dec 31, 2006 | 8.33× | -37.6% |
| Dec 31, 2005 | 13.35× | -1.2% |
| Dec 31, 2004 | 13.52× | -11.6% |
| Dec 31, 2003 | 15.29× | +52.5% |
| Dec 31, 2002 | 10.02× | -77.3% |
| Dec 31, 2001 | 44.25× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How PNC compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 PNC This stockThe PNC Financial Services Group, Inc. | 12.85× |
 USBU.S. Bancorp | 11.90× |
 TFCTruist Financial Corporation | 12.94× |
 FITBFifth Third Bancorp | 18.49× |
 MTBM&T Bank Corporation | 11.69× |
 CFGCitizens Financial Group, Inc. | 13.18× |
 HBANHuntington Bancshares Incorporated | 12.45× |
 KEYKeyCorp | 11.78× |
 RFRegions Financial Corporation | 11.25× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does PNC’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 12.17×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take PNC into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("PNC", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 233.45 ÷ EPS 18.17 = 12.85×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
PNC P/E ratio: common questions
The essentials behind the numbers.
The PNC Financial Services Group, Inc.'s current P/E is 12.85× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.