U.S. Bancorp forward PE USB

Share price divided by analysts' consensus earnings for the next twelve months, since 1996.

Today, Oct 23, 2026: 10.9×
10-year median: 11.6×
Against its 10-year history: 35th; percentile: 0 is its lowest day, 100 its highest
10-year range: 7.6× to 20.3×
Peer median: 10.4×

U.S. Bancorp's forward PE is 10.9× as of Oct 23, 2026.

That is below its ten-year median of 11.6×, lower than on 65% of days in the last ten years.

Over that time it ranged from 7.6× in May 2023 to 20.3× in Dec 2019.

The median for 10 diversified banks of a similar size is 10.4×.

Forward PE over time

median 11.6×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	10.9×	9.9×	11.9×
2025	11.2×	8.4×	11.6×
2024	11.5×	9.8×	12.6×
2023	11.5×	7.6×	12.1×
2022	10.4×	9.1×	14.9×
2021	13.3×	9.8×	14.8×
2020	11.1×	8.9×	19.7×
2019	20.1×	11.1×	20.3×
2018	10.7×	10.5×	14.9×
2017	14.0×	13.5×	16.6×
2016	15.6×	12.4×	15.9×
2015	13.6×	13.0×	14.6×
2014	14.7×	12.8×	14.7×
2013	13.4×	10.9×	13.4×
2012	10.6×	10.1×	11.7×
2011	10.2×	8.2×	14.0×
2010	13.8×	12.1×	18.4×
2009	16.8×	10.8×	33.2×
2008	31.9×	12.4×	39.2×
2007	13.4×	11.3×	14.0×

Against its peers

Companies in Banks - Diversified nearest U.S. Bancorp's size, closest first, today.

Company	Forward PE
USBU.S. Bancorp	10.9×
CCitigroup	9.9×
WFCWells Fargo	10.5×
BACBank of America	10.3×
PNFPPinnacle Financial Partners	n/m
FHNFirst Horizon	n/m
UMBFUMB Financial	n/m
JPMJPMorgan Chase	13.2×
CFRCullen/Frost Bankers	n/m
ONBOld National Bancorp	n/m
ZIONZions Bancorporation, National Association	n/m
Peer median	10.4×

Where U.S. Bancorp ranks

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

More on U.S. Bancorp

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.