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Last update at 2024-12-19T18:56:00Z
Truist Financial (TFC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Thu 17 Oct 24, 01:30 PMTruist Financial's Q3 Earnings Beat as NII & Fee Income Rise
Thu 17 Oct 24, 12:37 PMTruist Financial Corporation (TFC) Beats Q3 Earnings and Revenue Estimates
Thu 17 Oct 24, 11:15 AMHigher NII to Aid Truist's Q3 Earnings, Lower Fee Income to Hurt
Tue 15 Oct 24, 03:48 PMThe PNC Financial Services Group, Inc (PNC) Q3 Earnings and Revenues Beat Estimates
Tue 15 Oct 24, 11:45 AMThree Companies Estimated Below Intrinsic Value In October 2024
Thu 10 Oct 24, 01:05 PMZacks Industry Outlook JPMorgan, U.S. Bancorp,Truist Financial and The Bank of New York Mellon
Wed 09 Oct 24, 07:15 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 7669.00M | 7993.00M | 5473.00M | 4019.00M | 4060.00M |
| Minority interest | -7.00000M | 3.00M | 10.00M | 13.00M | 20.00M |
| Net income | 6260.00M | 6440.00M | 4482.00M | 3224.00M | 3237.00M |
| Selling general administrative | 8467.00M | 8632.00M | 8146.00M | 4833.00M | 4313.00M |
| Selling and marketing expenses | 352.00M | 294.00M | 273.00M | 137.00M | - |
| Gross profit | 23035.00M | 22259.00M | 22705.00M | 12568.00M | 11558.00M |
| Reconciled depreciation | 767.00M | 764.00M | 1608.00M | 630.00M | 555.00M |
| Ebit | 9983.00M | 7996.00M | 5463.00M | 4006.00M | 5902.00M |
| Ebitda | 10750.00M | 8760.00M | 6406.00M | 4306.00M | 6033.00M |
| Depreciation and amortization | 767.00M | 764.00M | 943.00M | 300.00M | 131.00M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 9983.00M | 7996.00M | 5463.00M | 4006.00M | 5478.00M |
| Other operating expenses | 1763.00M | -14263.00000M | -17242.00000M | -8562.00000M | 6080.00M |
| Interest expense | 2321.00M | 768.00M | 1722.00M | 2096.00M | 1438.00M |
| Tax provision | 1402.00M | 1556.00M | 981.00M | 782.00M | 803.00M |
| Interest income | 16637.00M | 13774.00M | 15548.00M | 9409.00M | 8120.00M |
| Net interest income | 14316.00M | 13006.00M | 13826.00M | 7313.00M | 6682.00M |
| Extraordinary items | - | - | - | 0.00000M | 27.00M |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 1402.00M | 1556.00M | 981.00M | 782.00M | 803.00M |
| Total revenue | 23035.00M | 22259.00M | 22705.00M | 12568.00M | 11558.00M |
| Total operating expenses | 1763.00M | -14263.00000M | -17242.00000M | -8562.00000M | -6080.00000M |
| Cost of revenue | - | - | - | - | - |
| Total other income expense net | -2314.00000M | -3.00000M | 10.00M | 13.00M | -1418.00000M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 6267.00M | 6437.00M | 4492.00M | 4801.00M | 3257.00M |
| Net income applicable to common shares | 5927.00M | 6033.00M | 4184.00M | 3028.00M | 3063.00M |
| Preferred stock and other adjustments | - | 407.00M | 298.00M | 196.00M | 174.00M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 555255.00M | 541241.00M | 509228.00M | 473078.00M | 225697.00M |
| Intangible assets | 7430.00M | 6041.00M | 5007.00M | 5772.00M | 1866.00M |
| Earning assets | - | 183090.00M | 146303.00M | 109702.00M | 47705.00M |
| Other current assets | -71801.00000M | 160065.00M | 194333.00M | 244733.00M | 135380.00M |
| Total liab | 494718.00M | 471970.00M | 438316.00M | 406520.00M | 195519.00M |
| Total stockholder equity | 60514.00M | 69271.00M | 70807.00M | 66384.00M | 30122.00M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 13601.00M | -5292.00000M | -6092.00000M | -18218.00000M | 163004.00M |
| Common stock | 6634.00M | 6639.00M | 6745.00M | 6711.00M | 3817.00M |
| Capital stock | 13307.00M | 13312.00M | 14793.00M | 11813.00M | 6870.00M |
| Retained earnings | 26264.00M | 22998.00M | 19455.00M | 19806.00M | 18118.00M |
| Other liab | 10082.00M | 14277.00M | 9099.00M | 9749.00M | 5186.00M |
| Good will | 27013.00M | 26098.00M | 24447.00M | 24154.00M | 9818.00M |
| Other assets | 499544.00M | 162600.00M | 206348.00M | 259066.00M | 285089.00M |
| Cash | 21421.00M | 20295.00M | 18868.00M | 19065.00M | 3880.00M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 23422.00M | 5292.00M | 6092.00M | 18218.00M | 10611.00M |
| Current deferred revenue | -13601.00000M | - | - | - | - |
| Net debt | 45204.00M | 20910.00M | 26821.00M | 40492.00M | 25007.00M |
| Short term debt | 23422.00M | 5292.00M | 6092.00M | 18218.00M | 5178.00M |
| Short long term debt | 23422.00M | 5292.00M | 6092.00M | 15990.00M | 5178.00M |
| Short long term debt total | 66625.00M | 41205.00M | 45689.00M | 59557.00M | 28887.00M |
| Other stockholder equity | 34544.00M | 34565.00M | 35843.00M | 35609.00M | 6849.00M |
| Property plant equipment | 3605.00M | 3700.00M | 3870.00M | 3712.00M | 2118.00M |
| Total current assets | 21421.00M | 183762.00M | 144896.00M | 99914.00M | 166305.00M |
| Long term investments | 134419.00M | 159040.00M | 299958.00M | 298293.00M | 168995.00M |
| Net tangible assets | 23156.00M | 33092.00M | 35328.00M | 33986.00M | 16493.00M |
| Short term investments | 71801.00M | 153123.00M | 120788.00M | 74727.00M | 25038.00M |
| Net receivables | 11772.00M | 10344.00M | 5240.00M | 6122.00M | 2018.00M |
| Long term debt | 43203.00M | 35913.00M | 39597.00M | 41339.00M | 23709.00M |
| Inventory | -11772.00000M | 51.00M | 52.00M | 123.00M | -11.00000M |
| Accounts payable | 413495.00M | 416488.00M | 381077.00M | 334727.00M | 5433.00M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | 105.00M | 174.00M | 56.00M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -13601.00000M | -1604.00000M | 716.00M | -844.00000M | -1715.00000M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | 6639.00M | 6745.00M | 6711.00M | 3817.00M |
| Preferred stock total equity | - | 6673.00M | 8048.00M | 5102.00M | 3053.00M |
| Retained earnings total equity | - | 22998.00M | 19455.00M | 19806.00M | 18118.00M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | -124576.00000M | 1604.00M | -716.00000M | 844.00M | 1715.00M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 34290.00M | 194879.00M | 157984.00M | 114098.00M | 59392.00M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | 43203.00M | 35913.00M | 39597.00M | 41339.00M | 23709.00M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -29972.00000M | -29039.00000M | -39692.00000M | 36780.00M | -4528.00000M |
| Change to liabilities | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Total cashflows from investing activities | -29972.00000M | -32056.00000M | -43652.00000M | 8348.00M | -4947.00000M |
| Net borrowings | 26540.00M | -4031.00000M | -13758.00000M | 6293.00M | 476.00M |
| Total cash from financing activities | 20017.00M | 25591.00M | 36018.00M | 5353.00M | 1502.00M |
| Change to operating activities | 1631.00M | -90.00000M | 732.00M | -3643.00000M | 169.00M |
| Net income | 6267.00M | 6437.00M | 4492.00M | 3237.00M | 3257.00M |
| Change in cash | 1126.00M | 1427.00M | -197.00000M | 15221.00M | 904.00M |
| Begin period cash flow | 20295.00M | 18868.00M | 19065.00M | 3844.00M | 3083.00M |
| End period cash flow | 21421.00M | 20295.00M | 18868.00M | 19065.00M | 3987.00M |
| Total cash from operating activities | 11081.00M | 7892.00M | 7437.00M | 1520.00M | 4349.00M |
| Issuance of capital stock | 0.00000M | 0.00000M | 3449.00M | 1683.00M | 0.00000M |
| Depreciation | 1366.00M | 1384.00M | 1608.00M | 630.00M | 555.00M |
| Other cashflows from investing activities | -29408.00000M | -2575.00000M | -3145.00000M | -6256.00000M | -419.00000M |
| Dividends paid | -2989.00000M | -2852.00000M | -2725.00000M | -1459.00000M | 1378.00M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | -250.00000M | -3031.00000M | -500.00000M | -1725.00000M | -1205.00000M |
| Other cashflows from financing activities | 30553.00M | 82.00M | 953.00M | -175.00000M | -229.00000M |
| Change to netincome | -1530.00000M | 1572.00M | 1323.00M | 615.00M | 556.00M |
| Capital expenditures | 564.00M | 442.00M | 815.00M | 656.00M | 6266.00M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | -1501.00000M | 14.00M | -368.00000M | -19.00000M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | 1427.00M | -197.00000M | 15221.00M | 904.00M |
| Change in working capital | 4985.00M | 655.00M | -97.00000M | -3275.00000M | 35.00M |
| Stock based compensation | - | - | 353.00M | 165.00M | 141.00M |
| Other non cash items | -1537.00000M | -584.00000M | -852.00000M | 32.00M | -202.00000M |
| Free cash flow | 10517.00M | 7450.00M | 6622.00M | 2176.00M | -1917.00000M |
Sector: Financial Services Industry: Banks - Regional
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | |
|---|---|---|---|---|---|---|---|
| TFC Truist Financial Corp |
-0.424 0.98% | 42.69 | 9.24 | 9.94 | 2.18 | 0.86 | |
| HDB HDFC Bank Limited ADR |
0.03 0.05% | 64.42 | 20.81 | 20.96 | 0.11 | 4.77 | |
| CIHKY China Merchants Bank Co Ltd |
0.43 1.78% | 24.52 | 6.61 | 5.68 | 0.48 | 0.77 | 3.43 |
| CIHHF China Merchants Bank Co Ltd Class H |
- -% | 4.70 | 6.10 | 5.67 | 0.44 | 0.77 | 3.43 |
| IBN ICICI Bank Limited |
0.06 0.20% | 30.17 | 17.79 | 16.95 | 0.07 | 3.08 |
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts. The company also provides funding; asset management; automobile lending; credit card lending; consumer finance; home equity and mortgage lending; insurance, such as property and casualty, life, employee benefits, workers compensation and professional liability, surety coverage, title, and other insurance products; investment brokerage; mobile/online banking; and payment, lease financing, small business lending, and wealth management/private banking services. In addition, it offers association, capital market, institutional trust, insurance premium finance, derivatives, commercial lending, international banking, leasing, merchant, commercial deposit and treasury, small business and student lending, floor plan, commercial mortgage lending, mortgage warehouse lending, private equity investment, real estate lending, and supply chain financing services. Further, the company provides corporate and investment banking, retail and wholesale brokerage, securities underwriting and market making, loan syndication, and investment advisory services. The company was formerly known as BB&T Corporation and changed its name to Truist Financial Corporation in December 2019. Truist Financial Corporation was founded in 1872 and is headquartered in Charlotte, North Carolina.
214 North Tryon Street, Charlotte, NC, United States, 28202
| Name | Title | Year Born |
|---|---|---|
| Mr. William Henry Rogers Jr. | Exec. Chairman, CEO & Pres | 1958 |
| Mr. Kelly Stuart King | Exec. Director | 1948 |
| Mr. Clarke R. Starnes III | Sr. EVP, Chief Risk Officer & Vice Chair | 1959 |
| Mr. John Michael Howard | Sr. EVP & Chief Insurance Officer | 1967 |
| Mr. Hugh Sterling Cummins III | Vice Chair | 1963 |
| Mr. Michael Baron Maguire | Sr. EVP, CFO and Chief Consumer Fin. & Payments Officer | 1979 |
| Mr. Scott E. Case | Chief Information Officer & Sr. EVP | 1971 |
| Mr. Ankur Vyas | Head of Investor Relations | NA |
| Ms. Ellen M. Fitzsimmons | Sr. EVP, Chief Legal Officer & Head of Public Affairs | 1961 |
| Mr. Scott Stanzel | Exec. VP & Chief Communications Officer | NA |
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