Citizens Financial Group (CFG) FY2016 results: revenue $5.3 billion, up 8.9% on the year
Citizens Financial Group Inc. (CFG) reported revenue of $5.3 billion for fiscal 2016, the year ended 31 December 2016, up 8.9% on the year before. Net income was $1.0 billion, up 24.4%, and diluted earnings per share $1.97. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$5.3 billion
+8.9% on the year
FY2012FY2016
Operating margin
n/a
FY2012FY2016
Net income
$1.0 billion
+24.4% on the year
FY2012FY2016
Diluted EPS
$1.97
+27.1% on the year
FY2012FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,255
4,824
4,979
+8.9%
Interest expense
508
452
363
+12.4%
Pre-tax income
1,534
1,263
1,268
+21.5%
Income tax
489
423
403
+15.6%
Effective tax rate
31.9%
33.5%
31.8%
Net income
1,045
840
865
+24.4%
Net margin
19.9%
17.4%
17.4%
Diluted EPS
$1.97
$1.55
$1.55
+27.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,490
1,229
1,390
+21.2%
Capital expenditure
138
121
141
+14.0%
Free cash flow
1,352
1,108
1,249
+22.0%
Cash from investing
-11,326
-5,905
-10,274
Cash from financing
10,455
4,485
9,403
+133.1%
Depreciation and amortisation
515
471
386
+9.3%
Share-based compensation
23.0
24.0
53.0
-4.2%
Buybacks
430
500
334
-14.0%
Dividends paid
241
214
806
+12.6%
Dividend per share
$0.46
$0.40
$1.43
+15.0%
Diluted shares, weighted
524m
538m
558m
-2.7%
Shares outstanding at period end
512m
528m
546m
-3.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
19,747
19,646
19,268
+0.5%
Deposits
109,804
102,539
95,707
+7.1%
Repurchase agreements
1,148
802
4,276
+43.1%
Debt
17,149
13,318
15,171
+28.8%
Other liabilities
1,672
1,903
n/a
-12.1%
Total liabilities and equity
149,520
138,208
132,857
+8.2%
Fixed assets
601
595
595
+1.0%
Goodwill
6,876
6,876
6,876
0.0%
Securities held for sale or to maturity
5,071
5,258
5,148
-3.6%
Loans
106,433
97,826
92,215
+8.8%
Cash and equivalents
3,704
3,085
3,276
+20.1%
Other assets
26,835
24,568
24,747
+9.2%
Total assets
149,520
138,208
132,857
+8.2%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.