Citizens Financial Group (CFG) FY2018 results: revenue $6.1 billion, up 7.4% on the year
Citizens Financial Group Inc. (CFG) reported revenue of $6.1 billion for fiscal 2018, the year ended 31 December 2018, up 7.4% on the year before. Net income was $1.7 billion, up 4.2%, and diluted earnings per share $3.52. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$6.1 billion
+7.4% on the year
FY2012FY2018
Operating margin
n/a
FY2012FY2018
Net income
$1.7 billion
+4.2% on the year
FY2012FY2018
Diluted EPS
$3.52
+8.3% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,128
5,707
5,255
+7.4%
Interest expense
1,226
747
508
+64.1%
Pre-tax income
2,183
1,912
1,534
+14.2%
Income tax
462
260
489
+77.7%
Effective tax rate
21.2%
13.6%
31.9%
Net income
1,721
1,652
1,045
+4.2%
Net margin
28.1%
28.9%
19.9%
Diluted EPS
$3.52
$3.25
$1.97
+8.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,767
1,883
1,490
-6.2%
Capital expenditure
232
253
138
-8.3%
Free cash flow
1,535
1,630
1,352
-5.8%
Cash from investing
-7,077
-3,984
-11,326
Cash from financing
6,352
1,429
10,455
+344.5%
Depreciation and amortisation
486
487
515
-0.2%
Share-based compensation
41.0
48.0
23.0
-14.6%
Buybacks
1,025
820
430
+25.0%
Dividends paid
471
322
241
+46.3%
Dividend per share
$0.98
$0.64
$0.46
+53.1%
Diluted shares, weighted
480m
504m
524m
-4.6%
Shares outstanding at period end
466m
491m
512m
-5.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
20,817
20,270
19,747
+2.7%
Deposits
119,575
115,089
109,804
+3.9%
Repurchase agreements
1,156
815
1,148
+41.8%
Debt
17,242
14,436
17,149
+19.4%
Other liabilities
1,728
1,726
1,672
+0.1%
Total liabilities and equity
160,518
152,336
149,520
+5.4%
Fixed assets
791
685
601
+15.5%
Goodwill
6,923
6,887
6,876
+0.5%
Intangible assets
31.0
2.0
n/a
+1,450.0%
Securities held for sale or to maturity
24,060
24,842
5,071
-3.1%
Loans
115,418
109,381
106,433
+5.5%
Cash and equivalents
4,074
3,032
3,704
+34.4%
Other assets
9,221
7,507
26,835
+22.8%
Total assets
160,518
152,336
149,520
+5.4%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.