U.S. Bancorp (USB) - Net Assets
Based on the latest financial reports, U.S. Bancorp (USB) has net assets worth $63.80 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($695.36 Billion) and total liabilities ($631.56 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check financial resilience of U.S. Bancorp to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $63.80 Billion |
| % of Total Assets | 9.17% |
| Annual Growth Rate | 14.86% |
| 5-Year Change | 9.89% |
| 10-Year Change | 26.11% |
| Growth Volatility | 68.3 |
U.S. Bancorp - Net Assets Trend (1989–2024)
This chart illustrates how U.S. Bancorp's net assets have evolved over time, based on quarterly financial data. Also explore USB total assets for the complete picture of this company's asset base.
Annual Net Assets for U.S. Bancorp (1989–2024)
The table below shows the annual net assets of U.S. Bancorp from 1989 to 2024. For live valuation and market cap data, see U.S. Bancorp stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $59.04 Billion | +5.86% |
| 2023-12-31 | $55.77 Billion | +8.86% |
| 2022-12-31 | $51.23 Billion | -7.50% |
| 2021-12-31 | $55.39 Billion | +3.09% |
| 2020-12-31 | $53.73 Billion | +2.37% |
| 2019-12-31 | $52.48 Billion | +1.60% |
| 2018-12-31 | $51.66 Billion | +4.01% |
| 2017-12-31 | $49.67 Billion | +3.62% |
| 2016-12-31 | $47.93 Billion | +2.38% |
| 2015-12-31 | $46.82 Billion | +6.00% |
| 2014-12-31 | $44.17 Billion | +5.65% |
| 2013-12-31 | $41.81 Billion | +3.82% |
| 2012-12-31 | $40.27 Billion | +15.14% |
| 2011-12-31 | $34.97 Billion | +15.33% |
| 2010-12-31 | $30.32 Billion | +13.73% |
| 2009-12-31 | $26.66 Billion | -1.38% |
| 2008-12-31 | $27.03 Billion | +28.45% |
| 2007-12-31 | $21.05 Billion | -0.71% |
| 2006-12-31 | $21.20 Billion | +5.53% |
| 2005-12-31 | $20.09 Billion | +2.80% |
| 2004-12-31 | $19.54 Billion | +1.54% |
| 2003-12-31 | $19.24 Billion | +6.30% |
| 2002-12-31 | $18.10 Billion | +9.96% |
| 2001-12-31 | $16.46 Billion | +8.52% |
| 2000-12-31 | $15.17 Billion | +98.59% |
| 1999-12-31 | $7.64 Billion | +15.66% |
| 1998-12-31 | $6.60 Billion | +140.14% |
| 1997-12-31 | $2.75 Billion | +221.59% |
| 1996-12-31 | $855.10 Million | +4.26% |
| 1995-12-31 | $820.20 Million | +14.20% |
| 1994-12-31 | $718.20 Million | -68.01% |
| 1993-12-31 | $2.25 Billion | -3.15% |
| 1992-12-31 | $2.32 Billion | +317.66% |
| 1991-12-31 | $555.00 Million | +11.00% |
| 1990-12-31 | $500.00 Million | +8.11% |
| 1989-12-31 | $462.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to U.S. Bancorp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 30232.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $76.86 Billion | 131.21% |
| Common Stock | $21.00 Million | 0.04% |
| Other Comprehensive Income | $-9.76 Billion | -16.67% |
| Total Equity | $58.58 Billion | 100.00% |
U.S. Bancorp Competitors by Market Cap
The table below lists competitors of U.S. Bancorp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
National Australia Bank Ltd
AU:NAB
|
$86.11 Billion |
|
National Grid PLC ADR
NYSE:NGG
|
$86.46 Billion |
|
Johnson Controls International PLC
NYSE:JCI
|
$86.82 Billion |
|
Samsung Electronics Co Pref
KO:005935
|
$86.82 Billion |
|
Grupo México S.A.B. de C.V
MX:GMEXICOB
|
$85.80 Billion |
|
National Australia Bank Limited
F:NAL
|
$85.68 Billion |
|
FedEx Corporation
NYSE:FDX
|
$85.27 Billion |
|
American Tower Corp
NYSE:AMT
|
$85.02 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in U.S. Bancorp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 55,306,000,000 to 58,578,000,000, a change of 3,272,000,000 (5.9%).
- Net income of 6,299,000,000 contributed positively to equity growth.
- Dividend payments of 3,448,000,000 reduced retained earnings.
- Share repurchases of 173,000,000 reduced equity.
- New share issuances of 32,000,000 increased equity.
- Other comprehensive income increased equity by 332,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $6.30 Billion | +10.75% |
| Dividends Paid | $3.45 Billion | -5.89% |
| Share Repurchases | $173.00 Million | -0.3% |
| Share Issuances | $32.00 Million | +0.05% |
| Other Comprehensive Income | $332.00 Million | +0.57% |
| Other Changes | $230.00 Million | +0.39% |
| Total Change | $- | 5.92% |
Book Value vs Market Value Analysis
This analysis compares U.S. Bancorp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.50x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 32.09x to 1.50x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-12-31 | $1.75 | $56.30 | x |
| 1990-12-31 | $1.93 | $56.30 | x |
| 1991-12-31 | $2.11 | $56.30 | x |
| 1992-12-31 | $8.48 | $56.30 | x |
| 1993-12-31 | $6.76 | $56.30 | x |
| 1994-12-31 | $2.16 | $56.30 | x |
| 1995-12-31 | $2.47 | $56.30 | x |
| 1996-12-31 | $2.57 | $56.30 | x |
| 1997-12-31 | $4.02 | $56.30 | x |
| 1998-12-31 | $10.05 | $56.30 | x |
| 1999-12-31 | $10.44 | $56.30 | x |
| 2000-12-31 | $7.91 | $56.30 | x |
| 2001-12-31 | $8.49 | $56.30 | x |
| 2002-12-31 | $9.40 | $56.30 | x |
| 2003-12-31 | $9.94 | $56.30 | x |
| 2004-12-31 | $10.21 | $56.30 | x |
| 2005-12-31 | $10.82 | $56.30 | x |
| 2006-12-31 | $11.75 | $56.30 | x |
| 2007-12-31 | $11.97 | $56.30 | x |
| 2008-12-31 | $14.97 | $56.30 | x |
| 2009-12-31 | $13.97 | $56.30 | x |
| 2010-12-31 | $15.37 | $56.30 | x |
| 2011-12-31 | $17.67 | $56.30 | x |
| 2012-12-31 | $20.57 | $56.30 | x |
| 2013-12-31 | $22.24 | $56.30 | x |
| 2014-12-31 | $23.98 | $56.30 | x |
| 2015-12-31 | $26.03 | $56.30 | x |
| 2016-12-31 | $27.44 | $56.30 | x |
| 2017-12-31 | $29.14 | $56.30 | x |
| 2018-12-31 | $31.15 | $56.30 | x |
| 2019-12-31 | $32.76 | $56.30 | x |
| 2020-12-31 | $35.16 | $56.30 | x |
| 2021-12-31 | $36.86 | $56.30 | x |
| 2022-12-31 | $34.07 | $56.30 | x |
| 2023-12-31 | $35.84 | $56.30 | x |
| 2024-12-31 | $37.53 | $56.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently U.S. Bancorp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.75%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.75%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 11.58x
- Recent ROE (10.75%) is below the historical average (15.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | 12.54% | 9.12% | 0.11x | 12.86x | $11.75 Million |
| 1990 | 12.98% | 9.79% | 0.11x | 12.59x | $14.90 Million |
| 1991 | 11.86% | 9.98% | 0.10x | 11.97x | $10.30 Million |
| 1992 | 13.45% | 14.06% | 0.08x | 11.49x | $80.00 Million |
| 1993 | 13.27% | 13.35% | 0.08x | 11.75x | $73.50 Million |
| 1994 | 16.24% | 16.98% | 0.07x | 13.08x | $44.78 Million |
| 1995 | 16.65% | 16.10% | 0.09x | 11.67x | $54.58 Million |
| 1996 | 48.58% | 14.34% | 0.29x | 11.80x | $329.89 Million |
| 1997 | 27.66% | 13.55% | 0.17x | 11.95x | $485.71 Million |
| 1998 | 20.10% | 17.32% | 0.10x | 11.25x | $667.03 Million |
| 1999 | 19.72% | 17.86% | 0.10x | 10.67x | $742.70 Million |
| 2000 | 18.96% | 16.96% | 0.10x | 10.87x | $1.36 Billion |
| 2001 | 8.98% | 9.47% | 0.09x | 10.41x | $-167.30 Million |
| 2002 | 17.50% | 21.54% | 0.08x | 9.95x | $1.36 Billion |
| 2003 | 19.40% | 25.62% | 0.08x | 9.85x | $1.81 Billion |
| 2004 | 21.33% | 28.34% | 0.08x | 9.99x | $2.21 Billion |
| 2005 | 22.35% | 27.05% | 0.08x | 10.43x | $2.48 Billion |
| 2006 | 22.41% | 24.73% | 0.09x | 10.34x | $2.63 Billion |
| 2007 | 20.55% | 21.16% | 0.09x | 11.29x | $2.22 Billion |
| 2008 | 11.20% | 15.32% | 0.07x | 10.11x | $316.00 Million |
| 2009 | 8.49% | 11.31% | 0.07x | 10.83x | $-391.30 Million |
| 2010 | 11.24% | 16.17% | 0.07x | 10.43x | $365.10 Million |
| 2011 | 14.34% | 22.77% | 0.06x | 10.01x | $1.47 Billion |
| 2012 | 14.48% | 25.43% | 0.06x | 9.07x | $1.75 Billion |
| 2013 | 14.20% | 27.71% | 0.06x | 8.85x | $1.72 Billion |
| 2014 | 13.46% | 27.35% | 0.05x | 9.26x | $1.50 Billion |
| 2015 | 12.74% | 27.74% | 0.05x | 9.14x | $1.27 Billion |
| 2016 | 12.45% | 26.26% | 0.05x | 9.43x | $1.16 Billion |
| 2017 | 12.68% | 26.28% | 0.05x | 9.42x | $1.31 Billion |
| 2018 | 13.91% | 27.53% | 0.06x | 9.16x | $1.99 Billion |
| 2019 | 13.33% | 25.30% | 0.06x | 9.55x | $1.73 Billion |
| 2020 | 9.34% | 19.65% | 0.05x | 10.43x | $-350.50 Million |
| 2021 | 14.50% | 33.58% | 0.04x | 10.44x | $2.47 Billion |
| 2022 | 11.47% | 21.26% | 0.04x | 13.29x | $748.40 Million |
| 2023 | 9.82% | 13.36% | 0.06x | 12.00x | $-101.60 Million |
| 2024 | 10.75% | 14.75% | 0.06x | 11.58x | $441.20 Million |
Industry Comparison
This section compares U.S. Bancorp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $552,557,300
- Average return on equity (ROE) among peers: 11.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| U.S. Bancorp (USB) | $63.80 Billion | 12.54% | 9.90x | $85.92 Billion |
| Ameris Bancorp (ABCB) | $1.46 Billion | 8.31% | 6.86x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $5.70 Billion |
| ACNB Corporation (ACNB) | $74.01 Million | 9.97% | 11.77x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $129.12 Million | 4.21% | 5.71x | $135.98 Million |
| Alerus Financial Corp (ALRS) | $153.31 Million | 13.22% | 8.01x | $647.19 Million |
| Amalgamated Bank (AMAL) | $535.82 Million | 8.62% | 10.16x | $1.14 Billion |
| Amerant Bancorp Inc. (AMTB) | $901.22 Million | 12.53% | 7.48x | $962.39 Million |
| Arrow Financial Corporation (AROW) | $72.29 Million | 17.85% | 12.85x | $601.02 Million |
| Associated Banc-Corp (ASB) | $2.02 Billion | 12.80% | 9.17x | $5.20 Billion |
| AmeriServ Financial Inc (ASRV) | $65.10 Million | 11.83% | 10.90x | $62.60 Million |
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. The company operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segmen… Read more