Using the comparable multiples approach to valuation, determine if PNC Financial Groups stock is correctly valued and discuss the basis for your conclusion.

Price Company Per Share Bank of America $33.18 Goldman Sachs $220.28 Wells Fargo $54.28 Citigroup $74.87 PNC Financial Group | $152.85 Number of Shares Market Enterprise Outstanding Capitalization Value Revenue (billions ($billions) ($billions) | ($billions) 8.995 $298.4577 $539.09 $91.63 0.354 $77.9983 $98.12 $31.86 4.229 $229.5696 $492.23 $87.68 2.183 $163.4557 $458.29 $73.03 0.438 | $66.97433 | $121.29 $17.56 Free Cash EPS Flow ($billions) $2.71 -$11.25 $22.38 $17.81 $4.64 $9.34 $7.53 -$33.92 $11.17 | $6.39| Free Cash Flow per EV/Rev Share $1.25 5.88 $50.31 3.08 $2.21 5.61 $15.54 6.28 14.59 | 6.91 P/E | Operating Margin 12.24 28.64% 9.75 27.05% 11.54 24.49% 9.93 23.93% 13.68 | 28.93% Price Company Per Share Bank of America $33.18 Goldman Sachs $220.28 Wells Fargo $54.28 Citigroup $74.87 PNC Financial Group | $152.85 Number of Shares Market Enterprise Outstanding Capitalization Value Revenue (billions ($billions) ($billions) | ($billions) 8.995 $298.4577 $539.09 $91.63 0.354 $77.9983 $98.12 $31.86 4.229 $229.5696 $492.23 $87.68 2.183 $163.4557 $458.29 $73.03 0.438 | $66.97433 | $121.29 $17.56 Free Cash EPS Flow ($billions) $2.71 -$11.25 $22.38 $17.81 $4.64 $9.34 $7.53 -$33.92 $11.17 | $6.39| Free Cash Flow per EV/Rev Share $1.25 5.88 $50.31 3.08 $2.21 5.61 $15.54 6.28 14.59 | 6.91 P/E | Operating Margin 12.24 28.64% 9.75 27.05% 11.54 24.49% 9.93 23.93% 13.68 | 28.93%