For the quarter ended December 2025, U.S. Bancorp reported total net revenue of $7.37 billion, representing a 5.5% increase year-over-year and exceeding the consensus estimate of $7.32 billion by 0.58%. This marks the highest quarterly revenue in the company’s history, driven primarily by growth in net interest income and robust fee-based businesses such as payment processing and wealth management services.

U.S. Bancorp delivered adjusted earnings per share of $1.26 for the quarter, up 24.7% from $1.01 a year earlier and ahead of the $1.19 consensus. Net income reached $2.04 billion, a 22.9% increase from the prior-year quarter. The substantial EPS uplift was supported by disciplined expense management, with non-interest expenses growing only 2% year-over-year and the efficiency ratio improving to 57.4%.

For the full year 2025, the company generated net income of $7.6 billion, up 20.2% from 2024, and reported annual earnings per share of $4.62, outperforming the consensus of $4.55. U.S. Bancorp wrapped the year with a Common Equity Tier 1 ratio of 10.8%, reflecting a strong capital position. On January 21, 2026, RBC Capital maintained its “Outperform” rating and raised its price target from $57 to $59, citing the bank’s consistent revenue growth, improving credit metrics and efficient cost management as key catalysts for further outperformance.