Citizens Financial Group (CFG) FY2023 results: revenue $8.2 billion, up 2.5% on the year
Citizens Financial Group Inc. (CFG) reported revenue of $8.2 billion for fiscal 2023, the year ended 31 December 2023, up 2.5% on the year before. Net income was $1.6 billion, down 22.4%, and diluted earnings per share $3.13. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$8.2 billion
+2.5% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$1.6 billion
-22.4% on the year
FY2016FY2023
Diluted EPS
$3.13
-23.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,961
4,119
2,275
-28.1%
Capital expenditure
172
126
124
+36.5%
Free cash flow
2,789
3,993
2,151
-30.2%
Cash from investing
5,248
-12,637
-10,486
Cash from financing
-7,128
9,907
4,636
Depreciation and amortisation
478
565
625
-15.4%
Share-based compensation
87.0
84.0
59.0
+3.6%
Buybacks
906
153
295
+492.2%
Dividends paid
808
779
670
+3.7%
Dividend per share
$1.68
$1.62
$1.56
+3.7%
Diluted shares, weighted
477m
478m
427m
-0.2%
Shares outstanding at period end
466m
492m
422m
-5.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
24,342
23,690
23,420
+2.8%
Deposits
177,342
180,724
154,361
-1.9%
Short-term borrowings
n/a
3.0
n/a
Debt
13,972
15,887
7,006
-12.1%
Other liabilities
6,308
6,429
3,622
-1.9%
Total liabilities and equity
221,964
226,733
188,409
-2.1%
Fixed assets
895
844
768
+6.0%
Goodwill
8,188
8,173
7,116
+0.2%
Intangible assets
157
197
64.0
-20.3%
Securities held for sale or to maturity
38,961
33,841
28,309
+15.1%
Loans
143,861
154,679
126,405
-7.0%
Cash and equivalents
11,628
10,547
9,158
+10.2%
Other assets
18,274
18,452
16,589
-1.0%
Total assets
221,964
226,733
188,409
-2.1%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.