Citizens Financial Group (CFG) FY2019 results: revenue $6.5 billion, up 5.9% on the year
Citizens Financial Group Inc. (CFG) reported revenue of $6.5 billion for fiscal 2019, the year ended 31 December 2019, up 5.9% on the year before. Net income was $1.8 billion, up 4.1%, and diluted earnings per share $3.81. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$6.5 billion
+5.9% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.8 billion
+4.1% on the year
FY2012FY2019
Diluted EPS
$3.81
+8.2% 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
6,491
6,128
5,707
+5.9%
Interest expense
1,575
1,226
747
+28.5%
Pre-tax income
2,251
2,183
1,912
+3.1%
Income tax
460
462
260
-0.4%
Effective tax rate
20.4%
21.2%
13.6%
Net income
1,791
1,721
1,652
+4.1%
Net margin
27.6%
28.1%
28.9%
Diluted EPS
$3.81
$3.52
$3.25
+8.2%
$ 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
1,697
1,767
1,883
-4.0%
Capital expenditure
126
232
253
-45.7%
Free cash flow
1,571
1,535
1,630
+2.3%
Cash from investing
-3,875
-7,077
-3,984
Cash from financing
1,490
6,352
1,429
-76.5%
Depreciation and amortisation
633
486
487
+30.2%
Share-based compensation
41.0
41.0
48.0
0.0%
Buybacks
1,220
1,025
820
+19.0%
Dividends paid
617
471
322
+31.0%
Dividend per share
$1.36
$0.98
$0.64
+38.8%
Diluted shares, weighted
451m
480m
504m
-6.1%
Shares outstanding at period end
433m
466m
491m
-7.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
22,201
20,817
20,270
+6.6%
Deposits
125,313
119,575
115,089
+4.8%
Repurchase agreements
265
1,156
815
-77.1%
Debt
14,321
17,242
14,436
-16.9%
Other liabilities
3,633
1,728
1,726
+110.2%
Total liabilities and equity
165,733
160,518
152,336
+3.2%
Fixed assets
761
791
685
-3.8%
Goodwill
7,044
6,923
6,887
+1.7%
Intangible assets
68.0
31.0
2.0
+119.4%
Securities held for sale or to maturity
23,815
24,060
24,842
-1.0%
Loans
117,836
115,418
109,381
+2.1%
Cash and equivalents
3,386
4,074
3,032
-16.9%
Other assets
12,823
9,221
7,507
+39.1%
Total assets
165,733
160,518
152,336
+3.2%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.