Latest Ratios: P/E Ratio 20.1x · EV/EBITDA 26.3x · ROE 6.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $241.4B | $217.3B | $133.8B | $100.6B | $88.8B | $123.8B | $129.4B | $181.0B | $129.9B | $200.8B | $171.7B |
| Enterprise Value | $607.6B | $583.6B | $447.9B | $441.9B | $268.0B | $335.4B | $320.5B | $447.2B | $383.9B | $457.7B | $389.9B |
| P/E Ratio → | 20.14 | 16.69 | 11.83 | 12.73 | 6.46 | 5.96 | 13.04 | 9.94 | 7.79 | — | 12.54 |
| P/S Ratio | 1.43 | 1.29 | 0.78 | 0.65 | 0.89 | 1.55 | 1.46 | 1.75 | 1.34 | 2.26 | 2.06 |
| P/B Ratio | 1.23 | 1.02 | 0.64 | 0.49 | 0.44 | 0.61 | 0.65 | 0.93 | 0.66 | 1.00 | 0.76 |
| P/FCF | — | — | — | — | 4.57 | 2.88 | — | — | 3.91 | — | 3.35 |
| P/OCF | — | — | — | — | 3.54 | 2.63 | — | — | 3.51 | — | 3.18 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.47 | 2.62 | 2.84 | 2.67 | 4.20 | 3.61 | 4.32 | 3.95 | 5.15 | 4.68 |
| EV / EBITDA | 26.31 | 25.26 | 20.97 | 25.29 | 11.62 | 10.67 | 18.24 | 16.08 | 14.11 | 17.32 | 15.47 |
| EV / EBIT | 30.64 | 29.43 | 26.27 | 34.23 | 14.25 | 12.21 | 23.51 | 18.71 | 16.37 | 20.11 | 18.15 |
| EV / FCF | — | — | — | — | 13.79 | 7.80 | — | — | 11.57 | — | 7.62 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.6% | 44.6% | 41.7% | 43.7% | 69.2% | 94.9% | 65.4% | 64.5% | 67.3% | 73.2% | 76.8% |
| Operating Margin | 11.8% | 11.8% | 10.0% | 8.3% | 18.8% | 34.4% | 15.3% | 23.1% | 24.1% | 25.6% | 25.8% |
| Net Profit Margin | 8.5% | 8.5% | 7.4% | 5.9% | 14.8% | 27.5% | 12.4% | 18.8% | 18.6% | -7.6% | 17.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.7% | 6.7% | 6.1% | 4.5% | 7.3% | 10.9% | 5.6% | 9.9% | 9.1% | -3.2% | 6.6% |
| ROA | 0.6% | 0.6% | 0.5% | 0.4% | 0.6% | 1.0% | 0.5% | 1.0% | 1.0% | -0.4% | 0.8% |
| ROIC | 1.7% | 1.7% | 1.6% | 1.3% | 2.0% | 3.0% | 1.5% | 2.8% | 2.8% | 2.7% | 2.7% |
| ROCE | 2.3% | 2.3% | 3.0% | 2.3% | 3.4% | 5.2% | 2.6% | 4.8% | 4.8% | 4.6% | 4.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.35 | 3.35 | 2.82 | 2.92 | 2.58 | 2.34 | 2.50 | 2.37 | 2.24 | 2.17 | 1.67 |
| Debt / EBITDA | 30.99 | 30.99 | 27.65 | 34.47 | 22.59 | 15.07 | 28.50 | 16.55 | 16.25 | 16.56 | 15.03 |
| Net Debt / Equity | — | 1.71 | 1.50 | 1.65 | 0.89 | 1.04 | 0.95 | 1.37 | 1.29 | 1.27 | 0.96 |
| Net Debt / EBITDA | 15.86 | 15.86 | 14.70 | 19.53 | 7.76 | 6.73 | 10.88 | 9.57 | 9.34 | 9.72 | 8.66 |
| Debt / FCF | — | — | — | — | 9.22 | 4.92 | — | — | 7.66 | — | 4.26 |
| Interest Coverage | 0.24 | 0.24 | 0.19 | 0.16 | 0.73 | 3.44 | 1.02 | 0.84 | 0.97 | 1.38 | 1.72 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.48 | 0.48 | 0.31 | 0.30 | 0.34 | 0.34 | 0.40 | 0.35 | 0.35 | 0.37 | 0.37 |
| Quick Ratio | 0.48 | 0.48 | 0.31 | 0.30 | 0.34 | 0.34 | 0.40 | 0.35 | 0.35 | 0.37 | 0.37 |
| Cash Ratio | 0.23 | 0.23 | 0.15 | 0.14 | 0.18 | 0.15 | 0.18 | 0.13 | 0.13 | 0.13 | 0.12 |
| Asset Turnover | — | 0.06 | 0.07 | 0.06 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 2.5% | 3.9% | 5.2% | 5.6% | 4.2% | 4.1% | 3.0% | 3.9% | 1.9% | 1.3% |
| Payout Ratio | 37.7% | 37.7% | 41.0% | 56.5% | 33.7% | 23.7% | 48.4% | 28.1% | 27.8% | — | 15.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 6.0% | 8.5% | 7.9% | 15.5% | 16.8% | 7.7% | 10.1% | 12.8% | — | 8.0% |
| FCF Yield | — | — | — | — | 21.9% | 34.7% | — | — | 25.5% | — | 29.8% |
| Buyback Yield | 7.6% | 8.4% | 5.6% | 6.1% | 3.7% | 9.2% | 3.4% | 10.8% | 11.7% | 7.2% | 5.4% |
| Total Shareholder Yield | 9.6% | 10.9% | 9.5% | 11.3% | 9.3% | 13.4% | 7.6% | 13.8% | 15.6% | 9.1% | 6.7% |
| Shares Outstanding | — | $1.9B | $1.9B | $2.0B | $2.0B | $2.0B | $2.1B | $2.3B | $2.5B | $2.7B | $2.9B |
Regulatory transformation execution risk
According to recent market data, Citigroup trades at a P/B of 1.23, which significantly lags behind peers like JPMorgan Chase and Morgan Stanley, suggesting that investors remain skeptical of the bank's ability to generate a competitive return on tangible common equity in the near term.
The valuation gap appears to reflect a structural complexity discount rather than purely cyclical factors. Investors should monitor whether the ongoing reorganization into five functional segments can eventually narrow this valuation spread by improving transparency and capital allocation efficiency.
As reported in financial statements, Citigroup's ROE of 2.7% in 2026Q1 remains suppressed, indicating that the bank's profitability is currently constrained by elevated operating expenses and the ongoing costs associated with its multi-year infrastructure transformation and legacy asset divestiture program across global markets.
The DuPont decomposition suggests that profitability is hampered by a combination of high efficiency ratios and a capital structure that has yet to optimize asset utilization. The persistent drag from transformation spending warrants investigation into whether these costs are truly transitory or indicative of a higher permanent expense base.
Based on quarterly filings, Citigroup's efficiency ratio of 32.3% in 2026Q1 highlights the significant burden of non-interest expenses, which continue to limit the bank's operating leverage despite the recent expansion in net interest income observed across its institutional and consumer banking divisions.
The inability to meaningfully lower the efficiency ratio suggests that the bank's cost structure remains rigid due to legacy technology and regulatory compliance requirements. Investors should monitor if the current investment cycle leads to a more scalable platform or if it merely maintains the status quo.
As reported in regulatory filings, Citigroup maintains an equity-to-total-assets ratio of 0.08, a level that appears adequate but remains under pressure from evolving Basel III Endgame requirements and the bank's commitment to returning capital to shareholders through dividends and buybacks during this transition.
The bank's capital position appears to be a balancing act between satisfying regulatory capital surcharges and maintaining shareholder returns. This delicate equilibrium warrants further investigation, as any unexpected increase in capital requirements could force a pivot in the current capital allocation strategy.
Market participants frequently misapply the P/E ratio to Citigroup, as reported in financial analysis, which obscures the impact of volatile credit loss provisions and non-recurring divestiture charges that distort earnings, making the P/TBV a more reliable metric for assessing the bank's underlying franchise value.
Using P/E as a primary valuation tool for Citigroup is problematic because it fails to account for the significant accounting noise generated by CECL provisioning and the ongoing restructuring of the balance sheet. Investors should prioritize P/TBV to better gauge the intrinsic value of the bank's tangible assets.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying C stock.
Citigroup Inc.'s current P/E ratio is 20.1x. The historical average is 14.2x. This places it at the 93th percentile of its historical range.
Citigroup Inc.'s current EV/EBITDA is 26.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.5x.
Citigroup Inc.'s return on equity (ROE) is 6.7%. The historical average is 10.4%.
Based on historical data, Citigroup Inc. is trading at a P/E of 20.1x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Citigroup Inc.'s current dividend yield is 2.05% with a payout ratio of 37.7%.
Citigroup Inc. has 44.6% gross margin and 11.8% operating margin. Operating margin between 10-20% is typical for established companies.
Citigroup Inc.'s Debt/EBITDA ratio is 31.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.