Stocks CFG Financial statements
Financial statementsCITIZENS FINANCIAL GROUP INC/RI financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CITIZENS FINANCIAL GROUP INC/RI files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,255 | 5,707 | 6,128 | 6,491 | 6,905 | 6,647 | 8,021 | 8,224 | 7,809 | 8,247 |
| Selling and marketing | 98 | 105 | 129 | 112 | 100 | 111 | 166 | 187 | 170 | 170 |
| Interest expense | 508 | 747 | 1,226 | 1,575 | 771 | 339 | 1,048 | 3,963 | ||
| Pre-tax income | 1,534 | 1,912 | 2,183 | 2,251 | 1,298 | 2,977 | 2,655 | 2,030 | 1,888 | 2,328 |
| Income tax | 489 | 260 | 462 | 460 | 241 | 658 | 582 | 422 | 379 | 497 |
| Net income | 1,045 | 1,652 | 1,721 | 1,791 | 1,057 | 2,319 | 2,073 | 1,608 | 1,509 | 1,831 |
| EPS, basic | 1.97 | 3.26 | 3.54 | 3.82 | 2.22 | 5.18 | 4.12 | 3.14 | 3.05 | 3.90 |
| EPS, diluted | 1.97 | 3.25 | 3.52 | 3.81 | 2.22 | 5.16 | 4.10 | 3.13 | 3.03 | 3.86 |
| Shares, basic (weighted) | 522 | 502 | 479 | 450 | 427 | 426 | 476 | 475 | 451 | 433 |
| Shares, diluted (weighted) | 524 | 504 | 480 | 451 | 428 | 427 | 478 | 477 | 454 | 437 |
| Dividend per share | 0.46 | 0.64 | 0.98 | 1.36 | 1.56 | 1.56 | 1.62 | 1.68 | 1.68 | 1.72 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 3,704 | 3,032 | 4,074 | 3,386 | 12,733 | 9,158 | 10,547 | 11,628 | 10,601 | 12,727 |
| Property, plant and equipment | 601 | 685 | 791 | 761 | 759 | 768 | 844 | 895 | 875 | 915 |
| Lease right-of-use assets | 699 | 800 | 766 | 1,019 | 885 | 869 | 958 | |||
| Goodwill | 6,876 | 6,887 | 6,923 | 7,044 | 7,050 | 7,116 | 8,173 | 8,188 | 8,187 | 8,187 |
| Intangible assets | 2 | 31 | 68 | 58 | 64 | 197 | 157 | 146 | 115 | |
| Total assets | 149,520 | 152,336 | 160,518 | 165,733 | 183,349 | 188,409 | 226,733 | 221,964 | 217,521 | 226,351 |
| Short-term debt | 4,359 | 2,671 | 1,317 | 274 | 243 | 74 | 3 | 505 | 0 | 58 |
| Total liabilities | 129,773 | 132,066 | 139,701 | 143,532 | 160,676 | 164,989 | 203,043 | 197,622 | 193,267 | 200,034 |
| Total debt | 12,790 | 11,765 | 15,925 | 14,047 | 8,346 | 6,932 | 15,887 | 13,467 | 12,401 | 11,224 |
| Paid-in capital | 18,722 | 18,781 | 18,815 | 18,891 | 18,940 | 19,005 | 22,142 | 22,250 | 22,364 | 22,476 |
| Retained earnings | 2,703 | 4,164 | 5,385 | 6,498 | 6,445 | 7,978 | 9,159 | 9,816 | 10,412 | 11,345 |
| Treasury stock | -1,263 | -2,108 | -3,133 | -4,353 | -4,623 | -4,918 | -5,071 | -5,986 | -7,047 | -7,652 |
| Other comprehensive income | -668 | -820 | -1,096 | -411 | -60 | -665 | -4,560 | -3,758 | -3,595 | -1,970 |
| Shareholders' equity | 19,747 | 20,270 | 20,817 | 22,201 | 22,673 | 23,420 | 23,690 | 24,342 | 24,254 | 26,317 |
| Total equity | 19,747 | 20,270 | 20,817 | 22,201 | 22,673 | 23,420 | 23,690 | 24,342 | 24,254 | 26,317 |
| Total liabilities and equity | 149,520 | 152,336 | 160,518 | 165,733 | 183,349 | 188,409 | 226,733 | 221,964 | 217,521 | 226,351 |
| Shares outstanding | 512 | 491 | 466 | 433 | 427 | 422 | 492 | 466 | 441 | 429 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 1,045 | 1,652 | 1,721 | 1,791 | 1,057 | 2,319 | 2,073 | 1,608 | 1,509 | 1,831 |
| Depreciation and amortization | 515 | 487 | 486 | 633 | 578 | 625 | 565 | 478 | 498 | 478 |
| Stock-based compensation | 23 | 48 | 41 | 41 | 48 | 59 | 84 | 87 | 97 | 120 |
| Deferred income tax | 153 | -136 | 97 | 64 | -238 | -429 | 57 | -242 | -177 | -82 |
| Cash from operations | 1,490 | 1,883 | 1,767 | 1,697 | 111 | 2,275 | 4,119 | 2,961 | 2,001 | 2,211 |
| Capital expenditures | -138 | -253 | -232 | -126 | ||||||
| Acquisitions | 0 | 0 | -533 | -129 | -3 | -165 | -255 | 0 | 0 | |
| Purchases of investments | -7,664 | -5,394 | -4,270 | -8,422 | -9,271 | -12,406 | -10,776 | -10,087 | -9,755 | -9,463 |
| Sales and maturities of investments | 3,785 | 3,470 | 3,258 | 3,946 | 6,943 | 7,810 | 3,422 | 2,001 | 3,304 | 4,018 |
| Cash from investing | -11,326 | -3,984 | -7,077 | -3,875 | -6,136 | -10,486 | -12,637 | 5,248 | 2,987 | -5,967 |
| Debt issued | 15,144 | 15,363 | 22,503 | 12,850 | 8,323 | 0 | 24,617 | 25,983 | 13,185 | 8,534 |
| Debt repaid | -8,429 | -12,751 | -14,837 | -14,857 | -14,022 | -1,352 | -19,691 | -28,418 | -14,286 | -9,744 |
| Share buybacks | -430 | -820 | -1,025 | -1,220 | -270 | -295 | -153 | -906 | -1,050 | -600 |
| Dividends paid | -241 | -322 | -471 | -617 | -672 | -670 | -779 | -808 | -769 | -755 |
| Cash from financing | 10,455 | 1,429 | 6,352 | 1,490 | 15,372 | 4,636 | 9,907 | -7,128 | -6,015 | 5,882 |
| Net change in cash | 619 | -672 | 1,042 | -688 | 9,347 | -3,575 | 1,389 | 1,081 | -1,027 | 2,126 |
| Free cash flow | 1,352 | 1,630 | 1,535 | 1,571 | ||||||
| Interest paid | 505 | 716 | 1,184 | 1,560 | 837 | 347 | 989 | 3,640 | 4,375 | 4,040 |
| Income taxes paid | 94 | 371 | 241 | 326 | 261 | 1,247 | 183 | 375 | 208 | 151 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 31.1% | Pre-tax income / revenue. |
| Net margin | 24.4% | Net income / revenue. |
| Operating cash flow margin | 28.7% | Cash from operations / revenue. |
| Effective tax rate | 21.6% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 8.1% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.9% | Net income / average total assets. |
| Stock-based pay / revenue | 1.5% | Stock-based compensation (from the cash flow statement) / revenue. |
| D&A / revenue | 5.1% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 5.6% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 0.9% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 3.6% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 21.3% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -4.1% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 11.6% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 27.4% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -2.0% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 11.7% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 10.5% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -18.7% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 81.9% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 2.4% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 2.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 2.0% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 8.5% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 3.6% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 3.0% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 4.1% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -0.1% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 4.3% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -3.7% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -2.9% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 0.4% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Debt / equity | 0.58x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 6.5% | Total debt / total assets. |
| Liabilities / assets | 88.8% | Total liabilities / total assets. |
| Net debt | $2.43B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Goodwill and intangibles / assets | 3.5% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $17.96B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.04x | Revenue / average total assets. |
| Fixed asset turnover | 10.00x | Revenue / average property, plant and equipment. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $4.98 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $20.45 | Revenue / diluted weighted shares. |
| Operating cash flow per share | $5.86 | Cash from operations / diluted weighted shares. |
| Book value per share | $61.95 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $42.50 | Tangible book value / shares outstanding. |
| Cash per share | $30.19 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 36.7% | Dividends paid / net income, when net income is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $27.60B | Share price x shares outstanding. |
| Enterprise value | $30.03B | Market cap + total debt - cash - short-term investments. |
| P/E | 13.0x | Market cap / net income. Only when net income is positive. |
| P/S | 3.16x | Market cap / revenue. |
| P/B | 1.05x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.54x | Market cap / tangible book value, when positive. |
| P/OCF | 11.0x | Market cap / cash from operations, when positive. |
| EV/Sales | 3.44x | Enterprise value / revenue. |
| Earnings yield | 7.7% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 2.8% | Dividends paid over the period / market cap. |
| Shareholder yield | 5.5% | (Dividends paid + share buybacks) / market cap. |
What was CITIZENS FINANCIAL GROUP INC/RI's revenue in fiscal 2025?
CITIZENS FINANCIAL GROUP INC/RI reported revenue of $8.25B for fiscal 2025, 5.6% higher than the year before.
Was CITIZENS FINANCIAL GROUP INC/RI profitable in fiscal 2025?
Yes. Net income was $1.83B, a net margin of 22.2%.