Citigroup (C) FY2020 results: revenue $75.5 billion, up 0.6% on the year
Citigroup Inc. (C) reported revenue of $75.5 billion for fiscal 2020, the year ended 31 December 2020, up 0.6% on the year before. Net income was $11.0 billion, down 43.1%, and diluted earnings per share $4.72. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$75.5 billion
+0.6% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$11.0 billion
-43.1% on the year
FY2013FY2020
Diluted EPS
$4.72
-41.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
75,501
75,067
72,854
+0.6%
Cost of revenue
17,495
8,383
7,568
+108.7%
Gross profit
n/a
n/a
65,286
Gross margin
n/a
n/a
89.6%
Interest expense
13,338
28,382
24,266
-53.0%
Pre-tax income
13,632
23,901
23,445
-43.0%
Income tax
2,525
4,430
5,357
-43.0%
Effective tax rate
18.5%
18.5%
22.8%
Net income
11,047
19,401
18,045
-43.1%
Net margin
14.6%
25.8%
24.8%
Diluted EPS
$4.72
$8.04
$6.68
-41.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-23,488
-12,837
36,952
Capital expenditure
3,446
5,336
3,774
-35.4%
Free cash flow
-26,934
-18,173
33,178
Cash from investing
-92,445
-23,374
-73,118
Cash from financing
233,595
42,933
44,528
+444.1%
Depreciation and amortisation
3,937
3,905
3,754
+0.8%
Buybacks
2,925
17,571
14,433
-83.4%
Dividends paid
5,352
5,447
5,020
-1.7%
Diluted shares, weighted
2,099m
2,265m
2,495m
-7.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
199,442
193,242
196,220
+3.2%
Non-controlling interest
758
704
854
+7.7%
Deposits
1,280,671
1,070,590
1,013,170
+19.6%
Trading liabilities
168,027
119,894
144,305
+40.1%
Debt
500,725
460,148
442,113
+8.8%
Other liabilities
110,467
106,580
120,721
+3.6%
Total liabilities and equity
2,260,090
1,951,158
1,917,383
+15.8%
Goodwill
22,162
22,126
22,046
+0.2%
Intangible assets
4,747
4,822
5,220
-1.6%
Securities held for sale or to maturity
440,027
361,040
351,395
+21.9%
Loans
n/a
686,700
671,881
Trading assets
375,079
276,140
256,117
+35.8%
Cash and equivalents
309,615
193,919
188,105
+59.7%
Other assets
1,108,460
406,411
422,619
+172.7%
Total assets
2,260,090
1,951,158
1,917,383
+15.8%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.