Citigroup (C) FY2019 results: revenue $75.1 billion, up 3.0% on the year
Citigroup Inc. (C) reported revenue of $75.1 billion for fiscal 2019, the year ended 31 December 2019, up 3.0% on the year before. Net income was $19.4 billion, up 7.5%, and diluted earnings per share $8.04. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$75.1 billion
+3.0% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$19.4 billion
+7.5% on the year
FY2012FY2019
Diluted EPS
$8.04
+20.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
75,067
72,854
72,444
+3.0%
Cost of revenue
8,383
7,568
7,451
+10.8%
Gross profit
n/a
65,286
64,993
Gross margin
n/a
89.6%
89.7%
Interest expense
28,382
24,266
16,517
+17.0%
Pre-tax income
23,901
23,445
22,761
+1.9%
Income tax
4,430
5,357
29,388
-17.3%
Effective tax rate
18.5%
22.8%
129.1%
Net income
19,401
18,045
-6,798
+7.5%
Net margin
25.8%
24.8%
-9.4%
Diluted EPS
$8.04
$6.68
-$2.98
+20.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-12,837
36,952
n/a
Capital expenditure
5,336
3,774
3,361
+41.4%
Free cash flow
-18,173
33,178
n/a
Cash from investing
-23,374
-73,118
n/a
Cash from financing
42,933
44,528
n/a
-3.6%
Depreciation and amortisation
3,905
3,754
3,659
+4.0%
Buybacks
17,571
14,433
14,541
+21.7%
Dividends paid
5,447
5,020
3,797
+8.5%
Diluted shares, weighted
2,265m
2,495m
2,698m
-9.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
193,242
196,220
200,740
-1.5%
Non-controlling interest
704
854
932
-17.6%
Deposits
1,070,590
1,013,170
959,822
+5.7%
Trading liabilities
119,894
144,305
125,170
-16.9%
Debt
460,148
442,113
437,438
+4.1%
Other liabilities
106,580
120,721
118,363
-11.7%
Total liabilities and equity
1,951,158
1,917,383
1,842,465
+1.8%
Goodwill
22,126
22,046
22,256
+0.4%
Intangible assets
4,822
5,220
5,146
-7.6%
Securities held for sale or to maturity
361,040
351,395
344,045
+2.7%
Loans
686,700
671,881
654,679
+2.2%
Trading assets
276,140
256,117
252,790
+7.8%
Cash and equivalents
193,919
188,105
180,516
+3.1%
Other assets
406,411
422,619
383,033
-3.8%
Total assets
1,951,158
1,917,383
1,842,465
+1.8%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.