TRUIST FINANCIAL CORP
TFCdata completeness 88%19 fiscal years on fileTRUIST FINANCIAL CORP earns about 11% on invested capital, barely covering its ~9% cost of capital, and has bought back 3% of its shares over 5 years. The estimate methods put fair value between $42.22 and $84.43 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $13.8B1 | $16.6B2 | $24.5B3 | $25.1B3 | $24.5B3 |
| Net income | $6.44B4 | $6.27B5 | −$1.05B6 | $4.84B6 | $5.31B6 |
| Operating cash flow | $7.89B7 | $11.1B8 | $8.63B9 | $2.16B9 | $5.74B9 |
| Capital expenditure | $442M10 | $564M10 | — | — | — |
| Free cash flow (derived) | $7.45B7 | $10.5B8 | — | — | — |
| Total debt | $41.2B11 | $66.6B12 | $63.7B13 | $64.2B14 | $69.8B14 |
| Cash & equivalents | $20.3B15 | $21.4B16 | $30.6B16 | $39.8B16 | $36.4B16 |
| Diluted shares | 1.35B | 1.34B | 1.33B | 1.33B | 1.30B |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $500.41 of net worth that earned you $40.74 last year, against $535.83 of debt.
It earned about 11% on invested capital against a ~9% cost of capital — roughly what it costs to fund the business, so the numbers show no clear edge.
seeing a moat in the numbers →Share count is down 3% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 69% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $42.22 and $84.43 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$7.45B
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$7.45B
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$5.31B
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $56.05 |
| Base | 5.0% | $75.83 |
| Bull | 10.0% | $99.49 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2021-12-31 · accession 0000092230-24-000010 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0000092230-25-000020 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0000092230-26-000030 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2021-12-31 · accession 0000092230-24-000010 (ProfitLoss)
- 10-K · period ending 2022-12-31 · accession 0000092230-25-000020 (ProfitLoss)
- 10-K · period ending 2023-12-31 · accession 0000092230-26-000030 (ProfitLoss)
- 10-K · period ending 2021-12-31 · accession 0000092230-24-000010 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0000092230-25-000020 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0000092230-26-000030 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0000092230-23-000034 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0000092230-23-000034 (LongTermDebt)
- 10-K · period ending 2022-12-31 · accession 0000092230-24-000010 (LongTermDebt)
- 10-K · period ending 2023-12-31 · accession 0000092230-25-000020 (LongTermDebt)
- 10-K · period ending 2024-12-31 · accession 0000092230-26-000030 (LongTermDebt)
- 10-K · period ending 2021-12-31 · accession 0000092230-22-000008 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0000092230-26-000030 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)