U.S. Bancorp

SWX:USB Stock Report

Market Cap: CHF 68.3b

U.S. Bancorp Valuation

Is USB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of USB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: USB (CHF44.27) is trading below our estimate of future cash flow value (CHF95.01)

Significantly Below Future Cash Flow Value: USB is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for USB?

Key metric: As USB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for USB. This is calculated by dividing USB's market cap by their current earnings.
What is USB's PE Ratio?
PE Ratio12x
EarningsUS$7.19b
Market CapUS$87.33b

Price to Earnings Ratio vs Peers

How does USB's PE Ratio compare to its peers?

The above table shows the PE ratio for USB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.4x
LLBN Liechtensteinische Landesbank
17.1xn/aCHF 2.9b
BCVN Banque Cantonale Vaudoise
20.4x1.33%CHF 8.9b
PNC PNC Financial Services Group
12.9x6.07%US$86.7b
WBC Westpac Banking
19.1x3.75%AU$132.3b
USB U.S. Bancorp
12x5.17%CHF 87.3b

Price-To-Earnings vs Peers: USB is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (17.4x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does USB's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
USB 12.0xIndustry Avg. 11.1xNo. of Companies38PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: USB is expensive based on its Price-To-Earnings Ratio (12x) compared to the European Banks industry average (11.2x).

Price to Earnings Ratio vs Fair Ratio

What is USB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

USB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate USB's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst USB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 44.27
CHF 49.23
+11.20%
7.92%CHF 60.80CHF 43.83n/a22
Jan ’27CHF 43.04
CHF 45.56
+5.85%
10.20%CHF 59.42CHF 39.61n/a23
Dec ’26CHF 38.21
CHF 44.84
+17.36%
8.66%CHF 56.43CHF 40.30n/a23
Nov ’26n/a
CHF 44.83
0%
8.95%CHF 56.33CHF 40.23n/a23
Oct ’26n/a
CHF 43.62
0%
8.99%CHF 52.60CHF 37.46n/a23
Sep ’26n/a
CHF 43.00
0%
8.84%CHF 53.87CHF 37.79n/a23
Aug ’26n/a
CHF 43.09
0%
8.77%CHF 53.94CHF 37.84n/a23
Jul ’26n/a
CHF 40.07
0%
9.86%CHF 51.50CHF 33.28n/a23
Jun ’26n/a
CHF 41.43
0%
9.86%CHF 50.06CHF 34.21n/a23
May ’26n/a
CHF 40.53
0%
9.09%CHF 48.63CHF 33.79n/a22
Apr ’26n/a
CHF 48.24
0%
8.44%CHF 57.45CHF 38.89n/a21
Mar ’26n/a
CHF 51.34
0%
7.29%CHF 58.35CHF 45.78n/a21
Feb ’26n/a
CHF 51.86
0%
6.79%CHF 58.99CHF 46.28n/a21
Jan ’26n/a
CHF 51.00
0%
7.65%CHF 59.27CHF 44.00CHF 43.0421
Dec ’25n/a
CHF 48.52
0%
8.71%CHF 58.49CHF 43.42CHF 38.2121
Nov ’25n/a
CHF 45.79
0%
5.93%CHF 51.81CHF 42.31n/a21
Oct ’25n/a
CHF 42.46
0%
5.92%CHF 48.24CHF 37.66n/a21
Sep ’25n/a
CHF 42.33
0%
6.11%CHF 46.02CHF 36.65n/a22
Aug ’25n/a
CHF 43.49
0%
6.67%CHF 48.27CHF 36.86n/a22
Jul ’25n/a
CHF 42.50
0%
7.28%CHF 47.61CHF 37.73n/a22
Jun ’25n/a
CHF 42.74
0%
7.53%CHF 48.88CHF 38.02n/a22
May ’25n/a
CHF 43.52
0%
7.45%CHF 49.63CHF 38.60n/a22
Apr ’25n/a
CHF 43.92
0%
6.93%CHF 50.65CHF 39.80n/a22
Mar ’25n/a
CHF 42.11
0%
8.46%CHF 53.30CHF 37.57n/a22
Feb ’25n/a
CHF 41.33
0%
8.46%CHF 52.32CHF 36.88n/a22
Jan ’25n/a
CHF 37.05
0%
15.48%CHF 50.65CHF 26.17n/a24
CHF 49.75
Fair Value
11.0% undervalued intrinsic discount
22
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/23 22:23
End of Day Share Price 2026/01/23 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

U.S. Bancorp is covered by 44 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen BiggarArgus Research Company
David GeorgeBaird
Jason GoldbergBarclays