Operating Income for U.S. Bancorp (USB)
According to U.S. Bancorp's latest reported financial statements, the company's current operating income (TTM) is $10.05B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
USB
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$10.05B
YoY change
+20.3%
5Y CAGR
+9.5%
Peak year (2021)
$10.17B
Cumulative operating income
$180.76B
Operating Income history chart for U.S. Bancorp (USB) from 1985 to 2025
Operating Income history table for U.S. Bancorp (USB) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $9.52B | +20.3% | ||
| 2024 | $7.91B | +15.2% | ||
| 2023 | $6.87B | -6.0% | ||
| 2022 | $7.30B | -28.2% | ||
| 2021 | $10.17B | +68.0% | ||
| 2020 | $6.05B | -29.6% | ||
| 2019 | $8.59B | -1.0% | ||
| 2018 | $8.68B | +15.4% | ||
| 2017 | $7.52B | -7.3% | ||
| 2016 | $8.11B | +0.9% | ||
| 2015 | $8.03B | +0.4% | ||
| 2014 | $8.00B | +3.0% | ||
| 2013 | $7.76B | +0.5% | ||
| 2012 | $7.73B | +16.5% | ||
| 2011 | $6.63B | +57.8% | ||
| 2010 | $4.20B | +59.6% | ||
| 2009 | $2.63B | -35.8% | ||
| 2008 | $4.10B | -34.8% | ||
| 2007 | $6.29B | -8.4% | ||
| 2006 | $6.86B | +4.4% | ||
| 2005 | $6.57B | +6.4% | ||
| 2004 | $6.18B | +9.3% | ||
| 2003 | $5.65B | +14.5% | ||
| 2002 | $4.94B | +110.7% | ||
| 2001 | $2.34B | -46.6% | ||
| 2000 | $4.39B | +85.8% | ||
| 1999 | $2.36B | +12.8% | ||
| 1998 | $2.09B | +80.6% | ||
| 1997 | $1.16B | +85.7% | ||
| 1996 | $624.10M | +204.4% | ||
| 1995 | $205.00M | +14.9% | ||
| 1994 | $178.40M | -62.6% | ||
| 1993 | $476.80M | +104.5% | ||
| 1992 | $233.10M | +143.1% | ||
| 1991 | $95.90M | +3.5% | ||
| 1990 | $92.70M | +15.7% | ||
| 1989 | $80.10M | +44.6% | ||
| 1988 | $55.40M | +33.5% | ||
| 1987 | $41.50M | +3.5% | ||
| 1986 | $40.10M | +17.6% | ||
| 1985 | $34.10M | — |
Operating Income values are taken from U.S. Bancorp's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
U.S. Bancorp (USB) most recent annual operating income stands at $9.52B (2025) – grew 20.3% year-over-year.
U.S. Bancorp operating income compound annual growth for the 2020–2025 (5 years) window is +9.5%, sustaining 2 straight years of year-over-year growth.
U.S. Bancorp operating income peaked at $10.17B in 2021; the latest annual figure is $9.52B in 2025 (6.4% below peak).
The highest annual operating income of $10.17B was reported in 2021. The lowest in the available history was $34.10M in 1985.
Among 8 Financial Services peers, U.S. Bancorp (USB) ranks 9th; the peer median for operating income is $24.60B.
U.S. Bancorp Operating Income by Year
U.S. Bancorp Operating Income 2025: $9.52B
U.S. Bancorp operating income in 2025 was $9.52B, grew 20.3% from 2024.
U.S. Bancorp Operating Income 2024: $7.91B
U.S. Bancorp operating income in 2024 was $7.91B, grew 15.2% from 2023.
U.S. Bancorp Operating Income 2023: $6.87B
U.S. Bancorp operating income in 2023 was $6.87B, declined 6.0% below 2022.
U.S. Bancorp Operating Income 2022: $7.30B
U.S. Bancorp operating income in 2022 was $7.30B, declined 28.2% below 2021.
U.S. Bancorp Operating Income 2021: $10.17B
U.S. Bancorp operating income in 2021 was $10.17B.
See more financial history for U.S. Bancorp (USB).
Sector peers — Operating Income
Companies in the same sector as U.S. Bancorp, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| JPMorgan Chase & Co. (JPM) | $72.59B | Financial Services |
| Berkshire Hathaway Inc. (BRK-B) | $59.54B | Financial Services |
| Bank of America Corporation (BAC) | $37.70B | Financial Services |
| Wells Fargo & Company (WFC) | $25.20B | Financial Services |
| Visa Inc. (V) | $23.99B | Financial Services |
| Morgan Stanley (MS) | $21.95B | Financial Services |
| The Goldman Sachs Group, Inc. (GS) | $21.85B | Financial Services |
| Mastercard Incorporated (MA) | $19.40B | Financial Services |
Frequently asked questions
What is U.S. Bancorp's operating income?
- Latest reported operating income for U.S. Bancorp (USB) is $10.05B (period ending March 31, 2026).
How has U.S. Bancorp operating income changed year-over-year?
- U.S. Bancorp (USB) operating income changed +20.3% year-over-year on the latest annual filing.
What is the long-term growth rate of U.S. Bancorp operating income?
- U.S. Bancorp (USB) operating income compound annual growth rate is +9.5% over the most recent 5 years available.
When did U.S. Bancorp operating income hit its highest annual value?
- U.S. Bancorp operating income reached its highest annual value of $10.17B in 2021.
What was U.S. Bancorp operating income in 2024?
- U.S. Bancorp (USB) operating income in 2024 was $7.91B.
What was U.S. Bancorp operating income in 2025?
- U.S. Bancorp (USB) operating income in 2025 was $9.52B.
Metrics overview
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