A Business at a Glance
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CITIZENS, INC.
CIA
$4.84
-1.63%
CITIZENS, INC. (CIA) has a current P/E ratio of 22.3, compared to its historical median P/E of 6.7. The stock is currently considered Expensive based on its historical valuation range.
CITIZENS, INC. (CIA) has a 5-year average return on invested capital (ROIC) of 18.0%. This indicates strong capital allocation and a potential competitive advantage.
CITIZENS, INC. (CIA) has a market capitalization of $245M. It is classified as a small-cap stock.
CITIZENS, INC. (CIA) does not currently pay a regular dividend.
Based on historical P/E analysis, CITIZENS, INC. (CIA) appears expensive. The current P/E of 22.3 is 234% above its historical median of 6.7. The estimated fair value CAGR (P/E method) is -6.1%.
CITIZENS, INC. (CIA) operates in the Life Insurance industry, within the Financials sector.
CITIZENS, INC. (CIA) reported annual revenue of $256 million in its most recent fiscal year, based on SEC EDGAR filings.
Incorporated in Colorado and based in Austin, Texas, Citizens, Inc. ("Citizens" or the "Company") is an insurance holding company. Since 1969 it has addressed the life insurance needs of people in the United States, and since 1975, it has extended life insurance offerings to clients worldwide. Through our international insurance subsidiary, we provide insurance benefits to residents in over 80 different countries, and through our domestic insurance subsidiaries, we are licensed to issue insurance products in 43 U.S. states. We pursue a strategy of offering insurance products in niche markets where we believe we are able to achieve competitive advantages. We had approximately $1.8 billion of assets and over $5.4 billion of direct insurance in force at December 31, 2025. We operate in the following two business segments. International Insurance We sell U.S. dollar-denominated life insurance, endowment and other financial products to non-U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 260M | 256M | 245M | 241M | 233M | 251M |
| Net Income | 18M | 15M | 15M | 24M | 26M | 73M |
| EPS | $0.37 | - | - | $0.48 | $0.51 | $1.44 |
| Free Cash Flow | 16M | 18M | 31M | 22M | 57M | 39M |
| ROIC | 0.0% | 6.6% | 7.8% | 16.3% | 22.8% | 36.3% |
| Gross Margin | - | 6.8% | 6.1% | 10.9% | 0.6% | 15.0% |
| Debt/Equity | 0.00 | 6.47 | 7.01 | 0.00 | 0.00 | 0.01 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 17M | 15M | 26M | 27M | 31M |
| Operating Margin | 0.0% | 6.8% | 6.1% | 10.9% | 11.8% | 12.2% |
| ROE | 7.7% | 6.6% | 7.8% | 16.3% | 22.8% | 36.3% |
| Shares Outstanding | 51M | - | - | 51M | 51M | 51M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 230M | 236M | 245M | 253M | 244M | 251M | 239M | 251M | 233M | 241M | 245M | 256M | 260M |
| Gross Margin | 0.1% | -0.1% | -0.0% | -0.1% | 0.1% | -0.2% | -15.6% | 15.0% | 0.6% | 10.9% | 6.1% | 6.8% | 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 | 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 |
| EBIT | -1.9M | -1.9M | 5.5M | -3.0M | 2.0M | 5.7M | -12M | 31M | 27M | 26M | 15M | 17M | 0 |
| Op. Margin | -0.8% | -0.8% | 2.2% | -1.2% | 0.8% | 2.3% | -5.2% | 12.2% | 11.8% | 10.9% | 6.1% | 6.8% | 0.0% |
| Net Income | -6.0M | -3.1M | 2.0M | -38M | -11M | -1.4M | -11M | 73M | 26M | 24M | 15M | 15M | 18M |
| Net Margin | -2.6% | -1.3% | 0.8% | -15.1% | -4.5% | -0.5% | -4.6% | 29.0% | 11.2% | 10.2% | 6.1% | 5.7% | 7.1% |
| Non-Recurring | 0 | 0 | 0 | 4.6M | -80K | -48K | 9K | 13M | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -2.3% | -1.2% | 0.8% | -16.1% | -5.4% | -0.6% | -3.9% | 36.3% | 22.8% | 16.3% | 7.8% | 6.6% | 0.0% |
| ROE | -2.3% | -1.2% | 0.8% | -16.1% | -5.4% | -0.6% | -3.9% | 36.3% | 22.8% | 16.3% | 7.8% | 6.6% | 7.7% |
| ROA | -0.5% | -0.2% | 0.1% | -2.4% | -0.7% | -0.1% | -0.6% | 3.9% | 1.5% | 1.5% | 0.9% | 0.8% | 1.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 98M | 87M | 102M | 93M | 85M | 72M | 49M | 40M | 57M | 22M | 32M | 18M | 17M |
| Free Cash Flow | 97M | 87M | 100M | 92M | 84M | 72M | 49M | 39M | 57M | 22M | 31M | 18M | 16M |
| Owner Earnings | 97M | 86M | 101M | 92M | 83M | 68M | 45M | 39M | 56M | 21M | 31M | 17M | 7.3M |
| CapEx | 481K | 590K | 2.2M | 1.3M | 724K | 511K | 221K | 1.0M | 100K | 442K | 663K | 447K | 666K |
| Maint. CapEx | 1.1M | 779K | 806K | 1.1M | 1.5M | 1.7M | 1.4M | 1.1M | 536K | 515K | 619K | 741K | 9.4M |
| Growth CapEx | 0 | 0 | 1.4M | 261K | 0 | 0 | 0 | 0 | 0 | 0 | 44K | 0 | 0 |
| D&A | 1.1M | 779K | 806K | 1.1M | 1.5M | 1.7M | 1.4M | 1.1M | 536K | 515K | 619K | 741K | 9.4M |
| CapEx/OCF | 0.5% | 0.7% | 2.2% | 1.4% | 0.9% | 0.7% | 0.5% | 2.5% | 0.2% | 2.0% | 2.1% | N/A | 3.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 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 |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.1M | 2.7M | 919K | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.3% | 2.5% | 0.6% | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | 0 | 0 | 400K | 2.1M | 2.2M | 600K | 500K | 600K | 393K | 278K | 278K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -757M | -818M | -917M | -1.0B | -1.3B | N/A | N/A | -27M | -24M | -1.3B | N/A | N/A | -1.3B |
| Cash & Equiv. | 51M | 83M | 36M | 46M | 45M | 46M | 34M | 27M | 23M | 27M | 29M | 23M | 1.3B |
| Long-Term Debt | 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 |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.72 | 5.13 | 0.01 | 0.00 | 0.00 | 7.01 | 6.47 | 0.00 |
| 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 | 262M | 247M | 249M | 224M | 188M | 260M | 301M | 100M | 128M | 172M | 210M | 235M | 239M |
| Total Assets | 1.4B | 1.5B | 1.6B | 1.6B | 1.6B | 1.7B | 1.8B | 1.9B | 1.6B | 1.7B | 1.7B | 1.8B | 1.7B |
| Total Liabilities | 1.2B | 1.2B | 1.3B | 1.4B | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B |
| Intangibles | 976K | 971K | 966K | 961K | 956K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -19M | -18M | -16M | -54M | -70M | -71M | -82M | -46M | 16M | 42M | 57M | 72M | 74M |
| 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 | -0.12 | -0.06 | 0.04 | -0.76 | -0.22 | -0.03 | -0.22 | 1.44 | 0.51 | 0.48 | N/A | N/A | 0.37 |
| Owner EPS | 1.93 | 1.72 | 2.03 | 1.84 | 1.65 | 1.36 | 0.89 | 0.76 | 1.10 | 0.41 | N/A | N/A | 0.14 |
| Book Value | 5.24 | 4.93 | 4.97 | 4.46 | 3.74 | 5.16 | 5.91 | 1.97 | 2.51 | 3.40 | N/A | N/A | 4.72 |
| Cash Flow/Share | 1.96 | 1.74 | 2.04 | 1.86 | 1.69 | 1.43 | 0.96 | 0.80 | 1.12 | 0.44 | N/A | N/A | 0.55 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 50.1M | 50.1M | 50.1M | 50.1M | 50.1M | 50.3M | 50.9M | 50.6M | 50.9M | 50.7M | N/A | N/A | 50.6M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 258.7 | N/A | N/A | N/A | N/A | 7.4 | 4.2 | 5.9 | 14.5 | N/A | 13.2 |
| P/FCF | 4.1 | 5.1 | 5.1 | 4.1 | 4.5 | 4.7 | 6.3 | 7.0 | 2.0 | 6.8 | N/A | N/A | 15.1 |
| EV/EBIT | 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 |
| Price/Book | 1.5 | 1.8 | 2.0 | 1.7 | 2.0 | 1.3 | 1.0 | 0.9 | 0.9 | 0.8 | 1.0 | N/A | 1.0 |
| Price/Sales | 1.5 | 1.5 | 1.7 | 1.5 | 1.6 | 1.4 | 1.2 | 1.2 | 0.8 | 0.6 | 0.6 | N/A | 0.9 |
| FCF Yield | 24.7% | 19.6% | 19.6% | 24.3% | 22.2% | 21.3% | 16.6% | 14.4% | 52.1% | 14.9% | 14.5% | N/A | 6.6% |
| Market Cap | 395M | 441M | 509M | 377M | 378M | 337M | 294M | 274M | 109M | 145M | 216M | 0 | 245M |
| Avg. Price | 7.07 | 7.08 | 8.29 | 7.73 | 7.78 | 6.97 | 5.94 | 5.87 | 3.72 | 2.75 | 3.13 | 0.00 | 4.84 |
| Year-End Price | 7.89 | 8.80 | 10.17 | 7.50 | 7.51 | 6.67 | 5.99 | 5.49 | 2.20 | 2.91 | 4.32 | 0.00 | 4.84 |
CITIZENS, INC. passes 1 of 9 quality checks, indicating weak fundamentals.
CITIZENS, INC. trades at 22.3x trailing earnings, compared to its 15-year median P/E of 6.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 12.6x vs a median of 4.9x. The company's 5-year average ROIC is 18.0% with a gross margin of 7.9%. At current prices, the estimated annualized return to fair value is -16.7%.
CITIZENS, INC. (CIA) has a net profit margin of 5.7%. This is a modest margin.
CITIZENS, INC. (CIA) generated $18 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CITIZENS, INC. (CIA) has a debt-to-equity ratio of 6.47. This indicates higher leverage, which may increase financial risk.
CITIZENS, INC. (CIA) has a return on equity (ROE) of 6.6%. This indicates moderate shareholder returns.
CITIZENS, INC. (CIA) has a 5-year average gross margin of 7.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for CITIZENS, INC. (CIA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.