Valuation, from the filing
| Public float | $24.10B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $11.87 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 10.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 15.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
10.9× earnings today, against a median of 10.6× across 8 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $24.10B | 10.9× | |
| 2024-06-30 | $18.89B | 9.7× | |
| 2023-06-30 | $15.34B | 7.9× | |
| 2022-06-30 | $17.09B | 7.6× | |
| 2021-06-30 | $20.82B | 16.1× | |
| 2020-06-30 | $9.35B | 11.4× | |
| 2019-06-30 | $14.58B | 10.3× | |
| 2018-06-30 | $16.03B | 11.5× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the National Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 17.1% | 14th | |
| Long-term debt / equity | 0.71x | 81th | |
| CapEx / revenue | 17.1% | 70th | |
| SBC / revenue | 7.2% | 65th | |
| Net margin | 141.5% | 62th | |
| Revenue YoY growth | 6.4% | 44th | |
| FCF margin | 141.8% | 55th |
HUNTINGTON BANCSHARES INC /MD/ (HBAN) reported revenue of $1.56B and net income of $2.21B for the fiscal year ended 2025-12-31. This page shows 8 annual periods of income statement, balance sheet and cash flow figures normalized from HUNTINGTON BANCSHARES INC /MD/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under National Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.56B | $1.47B | $1.40B | $1.32B | $1.11B | $884.00M | $939.00M | $881.00M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $2.21B | $1.94B | $1.95B | $2.24B | $1.30B | $817.00M | $1.41B | $1.39B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 1.50B | shares 1.48B | shares 1.47B | shares 1.47B | shares 1.29B | shares 1.03B | shares 1.06B | shares 1.11B |
| Pretax income | $2.69B | $2.40B | $2.38B | $2.76B | $1.59B | $972.00M | $1.66B | $1.63B |
| Income tax expense | $459.00M | $443.00M | $413.00M | $515.00M | $294.00M | $155.00M | $248.00M | $235.00M |
| Diluted EPS | $1.39 | $1.22 | $1.24 | $1.45 | $0.90 | $0.69 | $1.27 | $1.20 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $2.67B |
| Total assets | $225.11B | $204.23B | $189.37B | $182.91B | $174.06B | $123.04B | $109.00B | $108.78B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $200.73B | $184.45B | $169.97B | $165.14B | $154.75B | $110.04B | $97.21B | $97.68B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $24.38B | $19.78B | $19.40B | $17.77B | $19.32B | $12.99B | $11.80B | $11.10B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $6.00B | $5.56B | $5.56B | $5.57B | $5.35B | $1.99B | $1.99B | $1.99B |
| Long-term debt | $17.22B | $16.37B | $12.39B | $9.69B | $7.11B | $8.35B | $9.85B | $8.62B |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.48B | $1.84B | $2.66B | $4.03B | $2.06B | $1.32B | $1.57B | $1.73B |
| Capital expenditures | $267.00M | $143.00M | $140.00M | $214.00M | $247.00M | $119.00M | $107.00M | $110.00M |
| Investing cash flow | -$6.35B | -$12.12B | -$3.00B | -$11.61B | -$3.96B | -$8.64B | -$1.88B | -$3.66B |
| Financing cash flow | $4.51B | $13.00B | $3.76B | $8.76B | $827.00M | $12.74B | -$1.20B | $3.09B |
| Net change in cash | $648.00M | $2.72B | $3.42B | $1.18B | -$1.07B | $5.42B | -$1.50B | $1.15B |
| Stock-based compensation | $113.00M | $106.00M | $97.00M | $105.00M | $129.00M | $77.00M | $83.00M | $78.00M |
| Common dividends paid | $908.00M | $903.00M | $900.00M | $897.00M | $750.00M | $614.00M | $597.00M | $514.00M |
| Common share repurchases | Unavailable | Unavailable | $0 | $0 | $650.00M | $92.00M | $441.00M | $939.00M |
| Depreciation & amortization | $762.00M | $622.00M | $798.00M | $484.00M | $391.00M | $367.00M | $386.00M | $493.00M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Free cash flow | $2.22B | $1.69B | $2.52B | $3.81B | $1.82B | $1.20B | $1.47B | $1.62B |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 141.8% | 115.3% | 179.8% | 289.3% | 163.1% | 136.2% | 156.2% | 183.4% |
| SBC / revenue | 7.2% | 7.2% | 6.9% | 8.0% | 11.6% | 8.7% | 8.8% | 8.9% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 6.4% | 4.9% | 6.2% | 18.4% | 25.9% | -5.9% | 6.6% | Unavailable |
| Net margin | 141.5% | 132.2% | 139.4% | 169.8% | 116.4% | 92.4% | 150.3% | 158.1% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 17.1% | 9.7% | 10.0% | 16.2% | 22.2% | 13.5% | 11.4% | 12.5% |
| Long-term debt / equity | 0.71x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 17.1% | 18.4% | 17.3% | 18.6% | 18.5% | 15.9% | 14.9% | 14.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open HBAN in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.