The PNC Financial Services Group, Inc.

NYSE:PNC Stock Report

Market Cap: US$81.3b

PNC Financial Services Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PNC ($203.95) is trading below our estimate of fair value ($312.2)

Significantly Below Fair Value: PNC is trading below fair value by more than 20%.


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PNC. This is calculated by dividing PNC's market cap by their current earnings.
What is PNC's PE Ratio?
PE Ratio17.1x
EarningsUS$4.73b
Market CapUS$81.29b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PNC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.1x
USB U.S. Bancorp
15.5x11.6%US$78.6b
C Citigroup
19.4x30.6%US$130.9b
FITB Fifth Third Bancorp
15x8.1%US$31.1b
WFC Wells Fargo
14.4x3.6%US$244.5b
PNC PNC Financial Services Group
17.1x12.9%US$81.3b

Price-To-Earnings vs Peers: PNC is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (16.1x).


Price to Earnings Ratio vs Industry

How does PNC's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
PNC 17.1xIndustry Avg. 12.8xNo. of Companies75PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PNC is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the US Banks industry average (12.8x).


Price to Earnings Ratio vs Fair Ratio

What is PNC'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.

PNC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.1x
Fair PE Ratio18.6x

Price-To-Earnings vs Fair Ratio: PNC is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (18.6x).


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 PNC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$203.95
US$205.93
+1.0%
8.6%US$235.00US$175.00n/a20
Nov ’25US$187.15
US$202.63
+8.3%
7.8%US$229.00US$175.00n/a20
Oct ’25US$179.89
US$188.63
+4.9%
7.7%US$214.00US$162.00n/a20
Sep ’25US$185.09
US$187.55
+1.3%
7.5%US$209.00US$162.00n/a21
Aug ’25US$175.99
US$185.69
+5.5%
8.1%US$209.00US$160.00n/a21
Jul ’25US$156.14
US$169.57
+8.6%
7.1%US$199.00US$152.00n/a21
Jun ’25US$157.39
US$169.19
+7.5%
7.0%US$199.00US$152.00n/a21
May ’25US$153.98
US$168.96
+9.7%
6.9%US$199.00US$152.00n/a21
Apr ’25US$159.94
US$165.77
+3.6%
7.9%US$199.00US$145.00n/a21
Mar ’25US$147.81
US$163.53
+10.6%
8.1%US$199.00US$141.00n/a21
Feb ’25US$145.44
US$163.39
+12.3%
8.2%US$199.00US$141.00n/a21
Jan ’25US$154.85
US$147.04
-5.0%
11.0%US$180.00US$110.00n/a23
Dec ’24US$139.00
US$139.92
+0.7%
12.0%US$176.00US$110.00n/a22
Nov ’24US$113.46
US$139.00
+22.5%
12.3%US$176.00US$110.00US$187.1522
Oct ’24US$122.77
US$141.89
+15.6%
12.6%US$176.00US$110.00US$179.8922
Sep ’24US$122.22
US$142.63
+16.7%
11.9%US$176.00US$112.00US$185.0922
Aug ’24US$135.43
US$142.18
+5.0%
11.7%US$176.00US$112.00US$175.9922
Jul ’24US$125.95
US$143.02
+13.6%
12.2%US$186.00US$118.00US$156.1421
Jun ’24US$119.74
US$144.12
+20.4%
12.5%US$186.00US$118.00US$157.3921
May ’24US$122.00
US$145.71
+19.4%
13.2%US$186.00US$118.00US$153.9821
Apr ’24US$127.10
US$169.00
+33.0%
12.9%US$218.00US$132.00US$159.9421
Mar ’24US$155.21
US$174.33
+12.3%
9.9%US$218.00US$143.00US$147.8121
Feb ’24US$164.79
US$173.75
+5.4%
10.5%US$218.00US$143.00US$145.4421
Jan ’24US$157.94
US$179.11
+13.4%
10.1%US$222.00US$149.00US$154.8521
Dec ’23US$164.80
US$178.35
+8.2%
10.2%US$222.00US$149.00US$139.0021
Nov ’23US$161.81
US$178.60
+10.4%
10.3%US$222.00US$149.00US$113.4621

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


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