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Citizens Financial Group, Inc.

CFG Financial Banks Regional

Citizens Financial Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.1 billion, down 2.47% from fiscal 2024.

Revenue
+5.83%
EPS
+34.0%
Free cash flow
−75.9%
Total debt
+62.9%

Quarter to September 2026, against a year earlier

64.02 1.88 −2.85%
Market cap
$26.8B
P/E
12.8×
Fwd P/E
12.0×
Dividend yield
2.97%
F-score
7/9
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

Citizens Financial Group, Inc. (CFG) valuation and DCF model

What the price implies · reverse DCF

At $64.02 the price implies 12.9% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 15.8% a year over the last ten years, 1.9% over the last five. The price asks for close to its ten-year rate. Return on equity averaged 7.5% over ten years; the price implies 9.5% for good.

In December 2017 the price assumed 22.9% a year; Citizens Financial Group, Inc. went on to grow the dividend a share 4.1% a year to FY2025.

Price implies
12.9%
Last 5 years, reported
1.9%
Last 10 years, reported
15.8%

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
12.9% a year for ten years
$64.02
today’s price
Its base case
15.8% a year for five years, then 9.5%
$64.11
0.1% above 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 Citizens Financial Group, 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 12.9% 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 Citizens Financial Group, Inc.’s own cost of capital: risk-free 4.3% + beta 1.10 × equity premium 4.5% = 9.2% cost of equity; weighted, 9.2%.

Use 9.2%
Base case value per share $64.11 ten years discounted, and what follows
Current price $64.02 market price per share
Above today’s price 0.1% upside at the base case’s assumptions

How we got there$23.78 10 years of dividends+$40.33 terminal value=$64.11 per share

Valuation against its own history

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

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 12.78× 12.48× 11.97× 7% above 12.02× 6% above
P/FCF 32.96× 14.07× 13.58× 143% above 10.60× 211% above
P/B 1.17× 0.94× 0.90× 30% above 1.23× 5% below
EV/Sales — 2.03× 2.80× — 3.90× —
P/E P/FCF P/B EV/Sales
8.87×11.14×13.42×15.70×10Y avg 11.97×2017201820192020202120222023202420252026

CFG trades at 12.78× P/E, against a 10-year average of 11.97× (range 8.40×–16.04×). That is dearer than 56% of the last 9 year-end readings; re-rating to the average implies $59.95 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.