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Friday 6 November 2026 Export C’s income statement to Excel — free account

Citigroup Inc.

C Financial Banks Diversified

Citigroup Inc.’s revenue for fiscal 2025 (year ended December 2025) was $168.3 billion, down 1.20% from fiscal 2024.

Revenue
+4.08%
EPS
+49.2%
Free cash flow
+33.2%
Total debt
+9.48%

Quarter to September 2026, against a year earlier

120.85 2.40 +2.03%
Market cap
$198.7B
P/E
11.6×
Fwd P/E
10.8×
Dividend yield
2.13%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Citigroup Inc. (C) valuation and DCF model

What the price implies · reverse DCF

At $120.85 the price implies 33.8% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 21.3% a year over the last ten years, 2.4% over the last five. The price asks for about twice its ten-year rate. Return on equity averaged 6.3% over ten years; the price implies 9.4% for good.

Price implies
33.8%
Last 5 years, reported
2.4%
Last 10 years, reported
21.3%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
33.8% a year for ten years
$120.85
today’s price
Its base case
20.0% a year for five years, then 12.0%
$34.08
71.8% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Citigroup Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 33.8% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Citigroup Inc.’s own cost of capital: risk-free 4.3% + beta 1.15 × equity premium 4.5% = 9.5% cost of equity; weighted, 9.5%.

Use 9.5%
Base case value per share $34.08 ten years discounted, and what follows
Current price $120.85 market price per share
Below today’s price 71.8% downside at the base case’s assumptions

How we got there$11.82 10 years of dividends+$22.26 terminal value=$34.08 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Banks Diversified).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.62× 11.92× 10.83× 7% above 11.69× 1% below
P/FCF — 3.67× 3.67× — 8.83× —
P/B 1.15× 0.80× 0.82× 40% above 1.53× 25% below
P/E P/FCF P/B
0.54×0.73×0.92×1.11×10Y avg 0.82×2017201820192020202120222023202420252026

C trades at 1.15× P/B, against a 10-year average of 0.82× (range 0.49×–1.15×). That is dearer than 100% of the last 9 year-end readings; re-rating to the average implies $86.58 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.