How does U.S. Bancorp’s P/E ratio compare with its history?
On this page, USB's current P/E is 12.5, compared with a multi-year average around 12.6. When the current P/E sits near its historical average, the multiple is close to that range. Look at trend direction in profitability and cash-flow rows, plus liquidity and leverage, rather than treating the P/E in isolation.