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Citigroup Inc.
NYSE: C Financials Bank 🔎 Screen
S&P 500
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$254.3B
Market Cap
16.0
P/E
0.48
PEG
ROCE
6.8%
ROE
3.64
D/E
OPM
-4.2%
% from 52W High
75
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for C including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
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By Category
📊 Sector Averages
About

Citigroup Inc., a diversified financial service holding company, provides various financial products and services to consumers, corporations, governments, and institutions. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes treasury and trade solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and securities services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions. The Markets segment offers sales and trading services for equities, foreign exchange, rates, spread products, and commodities to corporate, institutional, and public sector clients; and market-making services, including asset classes, risk management solutions, financing, and prime brokerage. The Banking segment includes investment banking services comprising equity and debt capital markets-related strategic financing solutions; advisory services related to mergers and acquisitions, divestitures, restructurings, and corporate defense activities; and corporate lending consists of corporate and commercial banking. The U.S. Personal Banking segment provides proprietary and co-branded card portfolios; and traditional banking services to retail and small business customers. The Wealth segment offers financial services to high-net-worth clients through banking, lending, mortgages, investment, custody, and trust product offerings; professional industries, including law firms, consulting groups, accounting, and asset management; and affluent and high net worth clients. The company operates in North America, the United Kingdom, Japan, North and South Asia, Australia, Europe, the Middle East, and Africa. Citigroup Inc. was founded in 1812 and is headquartered in New York, New York.

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📈 Growth Pattern
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⭐ Superinvestors Holding C
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.37M $155.6M 0.20% Mar 2026
Jim Simons Renaissance Technologies LLC 674.7K $76.5M 0.12% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$24.8B
+14% YoY
Net Income
$5.8B
+45% YoY
EPS
$3.15
+61% YoY
RoTCE
13.0%
+430bps YoY
Efficiency Ratio
57.4%
-530bps YoY
What Went Right
  • Best quarterly revenue in a decade: $24.8B, up 14% YoY with 9% positive operating leverage.
  • Services hit a record quarterly revenue with RoTCE of 30.9% as revenues rose 18% and deposits 19%.
  • Banking revenues +34% with investment banking +44%, ECM +92% and DCM +65%.
  • Net income up 45% to $5.8B, EPS $3.15, and RoTCE improved 430bps to 13.0%.
  • Capital return ramped: $4B buybacks in Q2 under a new $30B program, plus a planned 12% dividend increase.
What to Watch
  • USCC NIR fell 47% YoY on investment-related accruals and acquisition costs; expenses are expected to outpace revenues in cards for several quarters.
  • FY2026 RoTCE guidance held at 10-11% despite 13.1% in H1, as management pulls forward organic investments and severance, pushing full-year efficiency to ~60% versus 57.4% in H1.
  • Markets seasonality: revenues historically decline ~20% H2 versus H1, and the drop could be greater after a very strong first half.
  • Macro risks: Middle East conflict weighing on growth and re-accelerating inflation, with Europe facing competitive headwinds.
Management Guidance
  • FY2026 RoTCE target of 10-11% reaffirmed; year-to-date RoTCE 13.1%.
  • NII ex-Markets growth of approximately 5-6% for FY2026; USCC NIR in Q3/Q4 to remain at Q2 absolute levels.
  • Markets H2 revenues expected to decline roughly 20% versus H1, with the decline potentially greater this year; full-year efficiency ratio ~60%.
  • US cards NCL rate of 4-4.5%; CET1 target around 12.6% under existing rules; dividend +12% from Q3 and $30B buyback underway.
Investor Lens
The thesis is stronger after this call: record revenue, double-digit growth in four of five businesses, 45% net income growth, and a $30B buyback all show the strategy executing. But management deliberately kept FY2026 RoTCE guidance at 10-11% despite a 13.1% first half, signalling that excess returns will be reinvested in organic growth and structural efficiency actions rather than reported as near-term upside. That pulls forward the medium-term targets (11-13% RoTCE in 2027-28, 14-15% longer term) and explains some investor disappointment given the stock traded down ~5%. The long-game framing is credible, but the H2 efficiency ratio (~60%), cards investment drag, and seasonal Markets decline need watching.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record $24.8B revenue, net income +45%, RoTCE 13%
Revenue
Revenue was $24.8 billion, up 14% YoY — Citi's best quarterly revenue in a decade — with double-digit growth in four of five businesses: Services +18%, Markets +17%, Banking +34% and Wealth +13%, while US Consumer Cards grew 1%. Services delivered its highest ever quarterly revenue and Markets crossed $7 billion again.
Profitability
Net income rose 45% to $5.8 billion, or $3.15 per diluted share versus $1.96 a year ago, and RoTCE improved 430 basis points to 13.0%. Returns improved in every business, led by Services at 30.9%, Cards at 22% and Banking at 18%.
Margins
The efficiency ratio improved 530 basis points to 57.4%, with 9% positive operating leverage, as expenses rose 5% to $14.2 billion on front-office investments and volume-related costs. Management guided the full-year efficiency ratio to about 60% as it ramps investments and additional severance in the second half.
Balance Sheet
CET1 ratio was 12.8%, roughly 120 basis points above the 11.6% regulatory minimum. Deposits of $1.5 trillion were up 3% sequentially, available liquidity exceeded $1 trillion with a 114% LCR, and Citi returned $4 billion of buybacks while planning a 12% dividend increase.
Key Risks
USCC investments will pressure NIR and operating leverage for several quarters; Markets faces a typical ~20% H2 revenue decline versus H1 which could be larger this year; macro risks include Middle East-driven inflation and weak European growth; DTA burn remains slow at $13.4 billion still to be consumed.
Outlook
FY2026 RoTCE guidance of 10-11% was reaffirmed with NII ex-Markets growth of 5-6% and an efficiency ratio around 60%. Markets revenues are expected to decline roughly 20% in H2 versus H1, and USCC NIR is guided to stay flat at Q2 levels in Q3 and Q4.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-14
Q2 2026 saw net income of $5.8B, 14% revenue growth, and strong double-digit gains across most segments. CET1 ratio reached 12.8%, with a 12% dividend hike and $4B in buybacks. Full-year RoTCE target remains 10%-11% as investments and seasonality are expected to impact H2.
Q4 2025 Q4 2025 2026-01-14
Adjusted net income rose 27% year-over-year to $16.1B, with all five business segments achieving record revenues and improved returns. Transformation progress accelerated, capital return exceeded $17.5B, and 2026 guidance targets 5%-6% NII growth and a 60% efficiency ratio.
Q4 2024 Q4 2024 2025-01-15
Net income rose nearly 40% to $12.7B in 2024, with all core businesses delivering positive operating leverage and efficiency gains. A $20B share repurchase was authorized, and 2025–2026 guidance calls for continued revenue growth, expense reduction, and ROTCE improvement.
Q2 2024 Q2 2024 2024-07-12
Q2 2024 saw 4% revenue growth, $3.2B net income, and 2% lower expenses, with all core businesses growing. Regulatory actions led to $136M in penalties but did not restrict dividends or buybacks. Medium-term targets and expense guidance are reaffirmed, with continued investment in transformation.
Q1 2024 Q1 2024 2024-04-12
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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