Citizens Financial Group (CFG) FY2017 results: revenue $5.7 billion, up 8.6% on the year
Citizens Financial Group Inc. (CFG) reported revenue of $5.7 billion for fiscal 2017, the year ended 31 December 2017, up 8.6% on the year before. Net income was $1.7 billion, up 58.1%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$5.7 billion
+8.6% on the year
FY2012FY2017
Operating margin
n/a
FY2012FY2017
Net income
$1.7 billion
+58.1% on the year
FY2012FY2017
Diluted EPS
$3.25
+65.0% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,707
5,255
4,824
+8.6%
Interest expense
747
508
452
+47.0%
Pre-tax income
1,912
1,534
1,263
+24.6%
Income tax
260
489
423
-46.8%
Effective tax rate
13.6%
31.9%
33.5%
Net income
1,652
1,045
840
+58.1%
Net margin
28.9%
19.9%
17.4%
Diluted EPS
$3.25
$1.97
$1.55
+65.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,883
1,490
1,229
+26.4%
Capital expenditure
253
138
121
+83.3%
Free cash flow
1,630
1,352
1,108
+20.6%
Cash from investing
-3,984
-11,326
-5,905
Cash from financing
1,429
10,455
4,485
-86.3%
Depreciation and amortisation
487
515
471
-5.4%
Share-based compensation
48.0
23.0
24.0
+108.7%
Buybacks
820
430
500
+90.7%
Dividends paid
322
241
214
+33.6%
Dividend per share
$0.64
$0.46
$0.40
+39.1%
Diluted shares, weighted
504m
524m
538m
-3.9%
Shares outstanding at period end
491m
512m
528m
-4.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
20,270
19,747
19,646
+2.6%
Deposits
115,089
109,804
102,539
+4.8%
Repurchase agreements
815
1,148
802
-29.0%
Debt
14,436
17,149
13,318
-15.8%
Other liabilities
1,726
1,672
1,903
+3.2%
Total liabilities and equity
152,336
149,520
138,208
+1.9%
Fixed assets
685
601
595
+14.0%
Goodwill
6,887
6,876
6,876
+0.2%
Intangible assets
2.0
n/a
n/a
Securities held for sale or to maturity
24,842
5,071
5,258
+389.9%
Loans
109,381
106,433
97,826
+2.8%
Cash and equivalents
3,032
3,704
3,085
-18.1%
Other assets
7,507
26,835
24,568
-72.0%
Total assets
152,336
149,520
138,208
+1.9%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.