Truist Financial Corp
NYSE: TFC · FINANCIAL SERVICES · BANKS - REGIONAL
Updated 2026-06-05
Truist Financial Corp (TFC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.38B | $10.65B | $10.32B | $10.78B | $11.19B | $10.29B | $11.05B | $10.80B | $10.34B | $10.63B | $11.54B | $12.16B | $13.00B | $14.66B | $24.43B | $23.06B | $22.29B | $29.95B | $24.25B | $30.44B |
| Revenue growth (YoY) | — | +13.5% | -3.1% | +4.4% | +3.8% | -8.1% | +7.5% | -2.3% | -4.3% | +2.7% | +8.6% | +5.4% | +6.9% | +12.8% | +66.6% | -5.6% | -3.3% | +34.3% | -19.0% | +25.5% |
| Cost of revenue | $3.42B | $4.46B | $4.41B | $4.85B | $4.43B | $2.57B | $2.12B | $1.48B | $1.02B | $1.16B | $1.32B | $1.39B | $2.00B | $2.71B | $4.06B | $-45.00M | $3.10B | $12.04B | $12.85B | $11.50B |
| Gross profit | $5.96B | $6.19B | $5.91B | $5.93B | $6.75B | $7.72B | $8.94B | $9.32B | $9.32B | $9.46B | $10.22B | $10.77B | $10.99B | $11.95B | $20.37B | $23.11B | $19.20B | $17.91B | $11.41B | $18.94B |
| Gross margin | 63.5% | 58.1% | 57.2% | 55.0% | 60.4% | 75.0% | 80.9% | 86.3% | 90.1% | 89.1% | 88.6% | 88.6% | 84.6% | 81.5% | 83.4% | 100.2% | 86.1% | 59.8% | 47.0% | 62.2% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $2.08B | $2.09B | $2.20B | $2.50B | $2.73B | $3.02B | $3.44B | $3.59B | $3.52B | $3.72B | $4.03B | $4.23B | $4.31B | $4.83B | $8.15B | $8.63B | $6.56B | $6.52B | $6.51B | $7.71B |
| Operating income | $2.47B | $2.58B | $2.08B | $1.04B | $969.00M | $1.63B | $2.79B | $3.28B | $3.13B | $2.92B | $3.50B | $3.33B | $4.06B | $4.02B | $5.47B | $7.99B | $7.03B | $-765.00M | $-601.00M | $6.35B |
| Operating margin | 26.4% | 24.2% | 20.1% | 9.6% | 8.7% | 15.8% | 25.3% | 30.4% | 30.2% | 27.5% | 30.3% | 27.4% | 31.2% | 27.4% | 22.4% | 34.7% | 31.5% | -2.6% | -2.5% | 20.9% |
| EBITDA | $2.77B | $2.87B | $2.38B | $1.38B | $1.35B | $1.99B | $3.18B | $3.70B | $3.55B | $3.38B | $4.05B | $3.88B | $4.62B | $4.65B | $7.08B | $9.38B | $8.39B | $450.00M | $378.00M | $7.05B |
| EBITDA margin | 29.5% | 26.9% | 23.0% | 12.8% | 12.1% | 19.4% | 28.8% | 34.3% | 34.3% | 31.8% | 35.1% | 31.9% | 35.5% | 31.7% | 29.0% | 40.7% | 37.7% | 1.5% | 1.6% | 23.2% |
| EBIT | $2.47B | $2.58B | $2.08B | $1.04B | $969.00M | $1.63B | $2.79B | $3.28B | $3.13B | $2.92B | $3.50B | $3.33B | $4.06B | $4.02B | $5.47B | $7.99B | $7.03B | $-765.00M | $-601.00M | $6.35B |
| Interest expense | $3.19B | $4.01B | $2.97B | $2.04B | $1.79B | $1.38B | $1.06B | $891.00M | $768.00M | $735.00M | $745.00M | $839.00M | $1.44B | $2.10B | $1.72B | $768.00M | $2.32B | $9.93B | $10.97B | $10.12B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $1.53B | $1.73B | $1.52B | $853.00M | $816.00M | $1.29B | $1.98B | $1.68B | $2.13B | $2.08B | $2.43B | $2.39B | $3.24B | $3.22B | $4.48B | $6.44B | $6.26B | $-1.09B | $4.82B | $5.31B |
| Net income growth (YoY) | — | +13.5% | -12.4% | -43.8% | -4.3% | +58.0% | +53.5% | -15.1% | +26.8% | -2.2% | +16.4% | -1.3% | +35.2% | -0.4% | +39.0% | +43.7% | -2.8% | -117.4% | +541.6% | +10.1% |
| Profit margin | 16.3% | 16.3% | 14.7% | 7.9% | 7.3% | 12.5% | 17.9% | 15.5% | 20.6% | 19.6% | 21.0% | 19.7% | 24.9% | 22.0% | 18.3% | 27.9% | 28.1% | -3.6% | 19.9% | 17.4% |
Frequently asked questions
What is Truist Financial Corp's revenue?
Truist Financial Corp's trailing twelve-month revenue is $18.66B, and consensus projects about $24.85B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is TFC?
In its most recent fiscal year, TFC ran a gross margin of 62.21%, an operating margin of 20.86%, and a net margin of 17.44%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does TFC generate?
TFC produced $5.74B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is TFC's balance sheet healthy?
TFC holds $36.38B in cash and equivalents against $41.96B in long-term debt, on $65.19B of shareholder equity. That debt is best read against the cash flow the business throws off each year.