CitigroupC

CitigroupC

Revenue: is the business selling more than it used to?

$85.2B+6% YoYFY 2025

→Revenue reached $85.2B in 2025, compounding +4% a year since 2022 and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Net income: how much of that revenue becomes profit?

$14.3B+13% YoYFY 2025

→Net income was $14.3B in 2025, compounding -1% a year over three years.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

How fast is it growing, year by year?

+5.6%revenue growth, FY 2025

→Revenue grew +6% in 2025 against a five-year average of +3%. Earnings grew faster (+13%), so each new dollar of sales is arriving more profitably.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Revenue per share: is your slice growing as fast as the company?

$45.50revenue per share, FY 2025

→Revenue per share reached $45.50 in 2025, compounding +6% a year against +4% for C as a whole. Buybacks added roughly 1.7 points to your per-share result.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Margins: of every $1 of sales, how much survives each cost layer?

→Net margin stands at 17% in 2025. C doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

What does it earn on the money it uses?

→C earns 7% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

What has the market paid for C over time?

18.0xP/E today

→At 18.0x earnings, the market is paying +147% more than C's own 10-year median of 7.3x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the highest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Could it handle its debt if things went wrong?

→Debt of $367.7B sits against $349.6B of cash, or 1.7x shareholders' equity.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Is the company's own capital growing?

→The company's own capital grew from $201.2B in 2022 to $212.3B (+6%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

How much goes back, and how much leaks out as stock comp?

→Shareholders received $13.3B in buybacks and $5.4B in dividends in 2025. Stock compensation issued $1.7B of new shares in the same year, offsetting 9% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

How fast is your ownership being diluted - or concentrated?

→The share count shrank 3.5% in 2025, averaging 1.6% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Is the dividend cheque growing?

→The dividend per share reached $2.87 in 2025, compounding +2% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Can it afford the dividend?

→The dividend consumed 38% of profit and 26% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Does C earn more on its capital than that capital costs?

→C earns 6.7% on the capital it employs, below the 10% most investors treat as the cost of capital. It was 7.4% in 2022, so the trend is down, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

C has issued or retired shares - did shareholders end up better off?

→C has shrunk its share count -38% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +76% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

What does C earn on the money it lends out?

→C earns 2.25% on its assets after paying for deposits and other funding. That is below the 2.86% median of the largest US banks. The spread has widened from 2.01% in 2022. This spread is where a bank's profit begins, so it drives everything below.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

How much does it cost to run the bank?

→It costs C 64.7% of every revenue dollar to run the bank, and lower is better here. Peers run at 65.4%, so C is the leaner operator. It has improved from 68.1% in 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Is it a lender, or a fee business?

→A minority of C's revenue (30%) comes from fees rather than interest, on $85.2B of total revenue in 2025. The mix has tilted back towards lending since 2011, and fee income matters because it does not depend on interest rates.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

What is the bank setting aside for loans that go bad?

→C set aside $7.6B against expected credit losses in 2018, mid-range in its filed history. The sharpest move was 2008, when the charge went from $17.0B to $33.3B. Provisions rise before losses do, so this is the bank's own early read on borrower stress.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Is the lending funded by its own depositors?

→C holds $1.40T of deposits in 2025, +62% since 2011. Deposits are a bank's cheapest funding, and depositors leaving is the first sign of real trouble. It lends out 54% of that, so the book is funded comfortably from deposits rather than borrowed money.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31

CitigroupC

Are the people running it buying or selling?

→Insiders sold $6M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 42 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2025-12-31