U.S. Bancorp (USB) FY2025 10-K Annual Report

Filed: Feb 23, 2026
Financials
National Commercial BanksSEC EDGAR

U.S. Bancorp (USB) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

U.S. Bancorp FY2025 10-K Analysis

Business Overview

  • Diversified U.S. financial holding company offering banking, lending, payments, wealth management, and capital markets via 2,075 branches across 26 states
  • Pending acquisition of BTIG for up to $1B ($725M targeted at closing + up to $275M performance-contingent over 3 years), expanding institutional trading and investment banking capabilities
+3 more insights

Management Discussion & Analysis

  • Revenue $28.7B total net revenue in 2025, up $1.2B (4.4%) YoY; net interest income $16.6B (+2.2%), noninterest income $11.9B (+7.6%)
  • Efficiency ratio 58.6% vs 62.3% in 2024; ROA 1.12% vs 0.95%; ROE 13.0% vs 11.7%; net income $7.6B vs $6.3B
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Risk Factors

  • Cybersecurity key-person gap: permanent CISO departed November 2025; two deputy CISOs serving as interim co-CISOs while search continues
  • Third-party cybersecurity exposure: reliance on outsourced service providers with contractual assurances as primary risk mitigation, no quantified concentration disclosed
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U.S. Bancorp FY2025 Key Financial Metrics
XBRL

Revenue

$28.7B

+4.4% YoY

Net Income

$7.6B

+20.2% YoY

Net Margin

26.4%

+347bp YoY

ROE

11.6%

+86bp YoY

Total Assets

$692.3B

+2.1% YoY

EPS (Diluted)

$4.62

+21.9% YoY

Operating Cash Flow

$8.0B

-29.3% YoY

Source: XBRL data from U.S. Bancorp FY2025 10-K filing on SEC EDGAR. All figures in USD.

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