PNC · NYQ · Financial Services
The PNC Financial Services Group, Inc.
Also onConsensus Drift
Implied value per share
USD 215.23
Market price
USD 231.66
Implied upside
-7.1%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 11.2%
- Payout
- 53%
- Cost of equity
- 8.86%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 60.6bn | USD 63.6bn | USD 66.7bn | USD 69.6bn | USD 72.5bn | USD 75.4bn | USD 78.1bn | USD 80.7bn | USD 83.2bn | USD 85.5bn |
| Return on equity | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% |
| Excess return | USD 1.4bn | USD 1.5bn | USD 1.6bn | USD 1.6bn | USD 1.7bn | USD 1.8bn | USD 1.8bn | USD 1.9bn | USD 1.9bn | USD 2.0bn |
| Present value | USD 1.3bn | USD 1.3bn | USD 1.2bn | USD 1.2bn | USD 1.1bn | USD 1.1bn | USD 1.0bn | USD 958.4m | USD 907.4m | USD 856.7m |
| Book equity | USD 60.6bn |
| Present value of excess returns | USD 10.8bn |
| Terminal, growing at 2.50% | USD 13.8bn |
| Equity value | USD 85.2bn |
| Per share | USD 215.23 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.937 | Reported 0.906, pulled toward 1.0 (Blume) |
| Cost of equity | 8.86% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.