A Business at a Glance
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CITIZENS FINANCIAL GROUP INC/RI
CFG
$31.4B
Mkt Cap
$71.88
+0.11%
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a current P/E ratio of 18.6, compared to its historical median P/E of 9.6. The stock is currently considered Expensive based on its historical valuation range.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a 5-year average return on invested capital (ROIC) of 5.0%. This is below average and may indicate limited pricing power.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a market capitalization of $30.6B. It is classified as a large-cap stock.
Yes, CITIZENS FINANCIAL GROUP INC/RI (CFG) pays a dividend with a trailing twelve-month yield of 2.50%. The company also returns capital through share buybacks, with a buyback yield of 2.29%.
Based on historical P/E analysis, CITIZENS FINANCIAL GROUP INC/RI (CFG) appears expensive. The current P/E of 18.6 is 95% above its historical median of 9.6. The estimated fair value CAGR (P/E method) is 0.3%.
CITIZENS FINANCIAL GROUP INC/RI (CFG) operates in the State Commercial Banks industry, within the Financials sector.
Citizens Financial Group is a regional bank holding company headquartered in Providence, Rhode Island, offering retail and commercial banking products and services through more than 1,000 branches across 14 states and the District of Columbia, with certain lines of business serving national markets. The company operates through two primary segments: Consumer Banking, which serves individuals and small businesses with deposits, mortgage and home equity lending, credit cards, small business loans, and wealth management solutions, and Commercial Banking, which serves companies and institutions with lending, leasing, deposit and treasury management, capital markets, and advisory services. Consumer Banking operates a multi-channel distribution network including approximately 5,100 branch colleagues, 1,000 branches, 3,100 ATMs, and digital platforms offering online and mobile banking; Commercial Banking is organized around client segments including Middle Market & Midcorporate, Commercial Real Estate, Capital Markets and Advisory, and Treasury & Wholesale Payments, with specialized industry expertise and geographic coverage. The company's business model emphasizes relationship-driven banking with a focus on high-quality deposits, advisory-led engagement, and disciplined capital allocation, competing on factors including customer service, product range, pricing, and reputation in markets where it faces competition from community banks, super-regional and national institutions, credit unions, and non-bank financial service providers. As of December 31, 2025, Citizens had total assets of $226.4 billion, total deposits of $183.3 billion, total stockholders' equity of $26.3 billion, and total client assets of $61.9 billion, with 17,398 full-time equivalent employees primarily across New England and the Mid-Atlantic.
【Strategic transformation underway】 Management is executing a "Reimagine the Bank" initiative targeting $450 million in fully phased-in pre-tax run-rate benefits by the end of 2028, with approximately $100 million in exit run-rate benefits expected in 2026, driven by technology investments including AI-assisted software development and customer interaction improvements. The company expects strong revenue performance in 2026 with net interest income growth of 10%-12% paced by net interest margin expansion of approximately 4-5 basis points per quarter, solid loan growth led by the private bank, and non-interest income growth of 6%-8% driven primarily by wealth and capital markets. Management remains confident in achieving its medium-term 16%-18% return on tangible common equity target by the second half of 2027, with further momentum in 2028, supported by expanding net interest margin, successful execution of strategic initiatives, and improving credit performance. The company plans to continue expanding its private bank footprint in key geographies, with deposits expected to grow to $18 billion-$20 billion, loans in the range of $11 billion-$13 billion, and client assets of $16 billion-$20 billion, while maintaining a 20%-25% return on equity profile.
| Metric | Target | Period |
|---|---|---|
| Reimagine the Bank pre-tax run-rate benefits | $450 million | Exit 2028 |
| Reimagine the Bank exit run-rate benefits | $100 million | 2026 |
| Net Interest Margin | 3.22%-3.28% | 4Q 2026 |
| Net Interest Margin | 3.30%-3.50% | 4Q 2027 |
| Loan growth (spot) | 3%-5% | FY2026 |
| Non-interest income growth | 6%-8% | FY2026 |
| Private Bank deposits | $18 billion-$20 billion | Medium-term |
| Private Bank loans | $11 billion-$13 billion | Medium-term |
| Private Bank client assets | $16 billion-$20 billion | Medium-term |
| CET1 ratio | 10.5%-10.6% | End of FY2026 |
| Share repurchases |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.5B | 12.1B | 12.4B | 12.2B | 9.1B | 7.0B |
| Net Income | 1.8B | 1.7B | 1.4B | 1.5B | 2.0B | 2.2B |
| EPS | $4.26 | $3.86 | $3.03 | $3.13 | $4.10 | $5.16 |
| Free Cash Flow | 2.5B | 2.0B | 1.9B | 2.8B | 4.0B | 2.2B |
| ROIC | 0.0% | 4.6% | 3.7% | 3.9% | 5.6% | 7.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.47 | 0.43 | 0.51 | 0.57 | 0.67 | 0.30 |
| Dividends/Share | $1.80 | $1.72 | $1.68 | $1.68 | $1.62 | $1.56 |
| Operating Income | 0 | 2.3B | 1.9B | 2.0B | 2.7B | 3.0B |
| Operating Margin | 0.0% | 19.3% | 15.3% | 16.7% | 29.3% | 42.6% |
| ROE | 7.0% | 6.7% | 5.6% | 6.2% | 8.3% | 9.6% |
| Shares Outstanding | 426M | 437M | 453M | 476M | 478M | 428M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.3B | 5.3B | 5.8B | 6.5B | 7.4B | 8.1B | 7.7B | 7.0B | 9.1B | 12.2B | 12.4B | 12.1B | 8.5B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.7B | 1.6B | 1.7B | 1.8B | 1.9B | 2.0B | 2.1B | 2.1B | 2.5B | 2.6B | 2.7B | 2.8B | 2.9B |
| EBIT | 389M | 101M | 164M | 1.9B | 2.2B | 2.3B | 1.3B | 3.0B | 2.7B | 2.0B | 1.9B | 2.3B | 0 |
| Op. Margin | 7.3% | 1.9% | 2.8% | 29.6% | 29.7% | 27.9% | 16.9% | 42.6% | 29.3% | 16.7% | 15.3% | 19.3% | 0.0% |
| Net Income | 865M | 833M | 1.0B | 1.6B | 1.7B | 1.7B | 950M | 2.2B | 2.0B | 1.5B | 1.4B | 1.7B | 1.8B |
| Net Margin | 16.2% | 15.8% | 17.9% | 25.4% | 23.0% | 21.3% | 12.4% | 31.6% | 21.6% | 12.2% | 11.1% | 14.0% | 21.6% |
| Non-Recurring | 124M | 40M | 4.0M | 0 | 0 | 6.0M | 0 | 11M | 9.0M | 28M | 18M | 24M | 24M |
| Returns on Capital | |||||||||||||
| ROIC | 3.9% | 3.1% | 3.3% | 5.1% | 4.9% | 4.7% | 2.8% | 7.2% | 5.6% | 3.9% | 3.7% | 4.6% | 0.0% |
| ROE | 4.5% | 4.3% | 5.2% | 8.2% | 8.2% | 8.0% | 4.2% | 9.6% | 8.3% | 6.2% | 5.6% | 6.7% | 7.0% |
| ROA | 0.7% | 0.6% | 0.7% | 1.1% | 1.1% | 1.1% | 0.5% | 1.2% | 0.9% | 0.7% | 0.6% | 0.8% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.4B | 1.2B | 1.5B | 1.9B | 1.8B | 1.7B | 111M | 2.3B | 4.1B | 3.0B | 2.0B | 2.2B | 2.7B |
| Free Cash Flow | 1.2B | 1.1B | 1.4B | 1.6B | 1.5B | 1.6B | -7.0M | 2.2B | 4.0B | 2.8B | 1.9B | 2.0B | 2.5B |
| Owner Earnings | 1.2B | 1.1B | 1.3B | 1.7B | 1.6B | 1.5B | -26M | 2.1B | 3.9B | 2.7B | 1.7B | 2.0B | 1.7B |
| CapEx | 141M | 121M | 138M | 253M | 232M | 126M | 118M | 124M | 126M | 172M | 122M | 174M | 160M |
| Maint. CapEx | 117M | 116M | 130M | 124M | 120M | 127M | 121M | 109M | 148M | 157M | 167M | 163M | 811M |
| Growth CapEx | 24M | 5.0M | 8.0M | 129M | 112M | 0 | 0 | 15M | 0 | 15M | 0 | 11M | 0 |
| D&A | 117M | 116M | 130M | 124M | 120M | 127M | 121M | 109M | 148M | 157M | 167M | 163M | 811M |
| CapEx/OCF | 10.1% | 9.8% | 9.3% | 13.4% | 13.1% | 5.6% | 106.3% | 5.5% | 3.1% | 5.8% | 6.1% | 7.9% | 6.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 806M | 214M | 241M | 322M | 471M | 617M | 672M | 670M | 779M | 808M | 769M | 755M | 767M |
| Dividend Yield | 9.0% | 2.3% | 2.8% | 2.5% | 3.4% | 5.2% | 7.2% | 4.2% | 4.6% | 6.2% | 4.7% | 3.8% | 2.5% |
| Share Buybacks | 334M | 500M | 430M | 820M | 1.0B | 1.2B | 270M | 295M | 153M | 906M | 1.1B | 600M | 700M |
| Buyback Yield | 3.5% | 5.1% | 3.3% | 5.4% | 9.9% | 8.8% | 2.2% | 1.8% | 0.9% | 6.2% | 5.6% | 2.3% | 2.3% |
| Stock-Based Comp | 71M | 24M | 23M | 20M | 41M | 21M | 16M | 22M | 84M | 81M | 90M | 84M | 101M |
| Debt Repayment | 6.0M | 766M | 8.4B | 12.8B | 14.8B | 14.9B | 14.0B | 1.4B | 19.7B | 28.4B | 14.3B | 9.7B | 9.7B |
| Balance Sheet | |||||||||||||
| Net Debt | 11.9B | 10.2B | 13.2B | -8.8B | -6.7B | -9.7B | -27.1B | -28.2B | 5.3B | 2.3B | 1.8B | -1.4B | -16M |
| Cash & Equiv. | 3.3B | 3.1B | 3.7B | 3.0B | 4.1B | 3.4B | 12.7B | 9.2B | 10.5B | 11.6B | 10.6B | 12.7B | 12.3B |
| Long-Term Debt | 4.6B | 9.9B | 12.8B | 11.8B | 15.9B | 14.0B | 8.3B | 6.9B | 15.9B | 13.5B | 12.4B | 11.2B | 12.3B |
| Debt/Equity | 0.79 | 0.68 | 0.87 | 0.71 | 0.83 | 0.65 | 0.38 | 0.30 | 0.67 | 0.57 | 0.51 | 0.43 | 0.47 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 19.3B | 19.6B | 19.7B | 20.3B | 20.8B | 22.2B | 22.7B | 23.4B | 23.7B | 24.3B | 24.3B | 26.3B | 26.2B |
| Total Assets | 132.9B | 138.2B | 149.5B | 152.3B | 160.5B | 165.7B | 183.3B | 188.4B | 226.7B | 222.0B | 217.5B | 226.4B | 227.9B |
| Total Liabilities | 113.6B | 118.6B | 129.8B | 132.1B | 139.7B | 143.5B | 160.7B | 165.0B | 203.0B | 197.6B | 193.3B | 200.0B | 201.7B |
| Intangibles | N/A | N/A | N/A | 2.0M | 31M | 68M | 58M | 64M | 197M | 157M | 146M | 115M | 112M |
| Retained Earnings | 1.3B | 1.9B | 2.7B | 4.2B | 5.4B | 6.5B | 6.4B | 8.0B | 9.2B | 9.8B | 10.4B | 11.3B | 11.6B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.55 | 1.55 | 1.97 | 3.25 | 3.52 | 3.81 | 2.22 | 5.16 | 4.10 | 3.13 | 3.03 | 3.86 | 4.26 |
| Owner EPS | 2.15 | 2.03 | 2.55 | 3.45 | 3.34 | 3.44 | -0.06 | 5.01 | 8.13 | 5.72 | 3.85 | 4.49 | 4.11 |
| Book Value | 34.53 | 36.56 | 37.73 | 40.22 | 43.31 | 49.24 | 52.98 | 54.78 | 49.56 | 51.10 | 53.56 | 60.18 | 61.43 |
| Cash Flow/Share | 2.49 | 2.29 | 2.85 | 3.74 | 3.68 | 3.76 | 0.26 | 5.32 | 8.62 | 6.22 | 4.42 | 5.06 | 6.20 |
| Dividends/Share | 1.43 | 0.40 | 0.46 | 0.64 | 0.98 | 1.36 | 1.56 | 1.56 | 1.62 | 1.68 | 1.68 | 1.72 | 1.80 |
| Shares Out. | 558.1M | 537.4M | 523.4M | 504.0M | 480.7M | 450.9M | 427.9M | 427.5M | 478.0M | 476.4M | 452.8M | 437.3M | 426.0M |
| Valuation | |||||||||||||
| P/E Ratio | 11.0 | 11.7 | 12.8 | 9.3 | 6.1 | 8.1 | 12.7 | 7.6 | 8.2 | 9.8 | 13.8 | 15.4 | 16.9 |
| P/FCF | 7.6 | 8.8 | 9.8 | 9.3 | 6.8 | 8.8 | N/A | 7.8 | 4.0 | 5.2 | 10.1 | 12.8 | 12.2 |
| EV/EBIT | 55.1 | 197.7 | 160.9 | 2.9 | 1.6 | 1.7 | N/A | 6.7 | 8.1 | 4.9 | 5.1 | 6.4 | N/A |
| Price/Book | 0.5 | 0.5 | 0.7 | 0.8 | 0.5 | 0.6 | 0.5 | 0.7 | 0.7 | 0.6 | 0.8 | 1.0 | 1.2 |
| Price/Sales | 1.8 | 1.9 | 1.7 | 2.3 | 2.3 | 1.8 | 1.4 | 2.4 | 2.1 | 1.6 | 2.1 | 2.4 | 3.6 |
| FCF Yield | 13.1% | 11.4% | 10.3% | 10.7% | 14.8% | 11.4% | -0.1% | 12.8% | 24.8% | 19.1% | 9.9% | 7.8% | 8.2% |
| Market Cap | 9.5B | 9.7B | 13.2B | 15.2B | 10.4B | 13.8B | 12.1B | 16.8B | 16.1B | 14.6B | 18.9B | 26.0B | 30.6B |
| Avg. Price | 15.99 | 17.32 | 16.74 | 25.77 | 29.19 | 26.36 | 21.89 | 36.95 | 35.44 | 27.32 | 35.79 | 45.74 | 71.88 |
| Year-End Price | 17.09 | 18.12 | 25.20 | 30.23 | 21.58 | 30.68 | 28.18 | 39.37 | 33.73 | 30.72 | 41.72 | 59.41 | 71.88 |
CITIZENS FINANCIAL GROUP INC/RI passes 4 of 9 quality checks, suggesting mixed fundamentals.
CITIZENS FINANCIAL GROUP INC/RI trades at 18.6x trailing earnings, compared to its 15-year median P/E of 9.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 15.0x vs a median of 8.8x. The company's 5-year average ROIC is 5.0%. Total shareholder yield (dividends + buybacks) is 4.8%. At current prices, the estimated annualized return to fair value is +21.1%.
CITIZENS FINANCIAL GROUP INC/RI (CFG) reported annual revenue of $12.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a net profit margin of 14.0%. This is a healthy margin.
CITIZENS FINANCIAL GROUP INC/RI (CFG) generated $2.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a debt-to-equity ratio of 0.43. This indicates a conservatively financed balance sheet.
CITIZENS FINANCIAL GROUP INC/RI (CFG) reported earnings per share (EPS) of $3.86 in its most recent fiscal year.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a return on equity (ROE) of 6.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 14 years of financial data for CITIZENS FINANCIAL GROUP INC/RI (CFG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CITIZENS FINANCIAL GROUP INC/RI (CFG) has a book value per share of $60.18, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is executing a "Reimagine the Bank" initiative targeting $450 million in fully phased-in pre-tax run-rate benefits by the end of 2028, with approximately $100 million in exit run-rate benefits expected in 2026, driven by technology investments including AI-assisted software development and customer interaction improvements. The company expects strong revenue performance in 2026 with net interest income growth of 10%-12% paced by net interest margin expansion of approximately 4-5 basis points per quarter, solid loan growth led by the private bank, and non-interest income growth of 6%-8% driven primarily by wealth and capital markets. Management remains confident in achieving its medium-term 16%-18% return on tangible common equity target by the second half of 2027, with further momentum in 2028, supported by expanding net interest margin, successful execution of strategic initiatives, and improving credit performance. The company plans to continue expanding its private bank footprint in key geographies, with deposits expected to grow to $18 billion-$20 billion, loans in the range of $11 billion-$13 billion, and client assets of $16 billion-$20 billion, while maintaining a 20%-25% return on equity profile.
Based on recent SEC filings and earnings calls, CITIZENS FINANCIAL GROUP INC/RI (CFG) has provided the following forward guidance: Reimagine the Bank pre-tax run-rate benefits: $450 million (Exit 2028); Reimagine the Bank exit run-rate benefits: $100 million (2026); Net Interest Margin: 3.22%-3.28% (4Q 2026); Net Interest Margin: 3.30%-3.50% (4Q 2027); Loan growth (spot): 3%-5% (FY2026), plus 6 additional metrics.
| $700 million-$850 million |
| FY2026 |
Reimagine the Bank pre-tax run-rate benefits (Exit 2028): “we are targeting fully phased-in pre-tax run rate benefits of approximately $450 million as we exit 2028”
Reimagine the Bank exit run-rate benefits (2026): “We estimate about $100 million in 2026 exit run rate benefits at this point.”
Net Interest Margin (4Q 2026): “we continue to project NIM to be in the range of 3.22%-3.28% in 4Q 2026”
Net Interest Margin (4Q 2027): “and in the range of 3.30%-3.50% in 4Q 2027”
Loan growth (spot) (FY2026): “Loan growth is expected to pick up this year, with spot loans up 3%-5%”
Non-interest income growth (FY2026): “Non-interest income is expected to be up 6%-8%, driven primarily by wealth and capital markets.”
Private Bank deposits (Medium-term): “we think deposits can grow to $18 billion-$20 billion”
Private Bank loans (Medium-term): “loans in the range of $11 billion-$13 billion”
No recent press releases.