Latest Ratios: P/E Ratio 18.7x · EV/EBITDA 10.8x · ROE 7.2%. (2012–2025 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 | $30.5B | $25.4B | $19.8B | $15.8B | $18.8B | $20.2B | $15.3B | $18.3B | $14.3B | $21.1B | $18.7B |
| Enterprise Value | $29.0B | $24.0B | $21.0B | $17.7B | $23.9B | $17.7B | $10.9B | $29.0B | $27.3B | $32.4B | $31.7B |
| P/E Ratio → | 18.68 | 15.13 | 14.44 | 10.59 | 9.60 | 9.16 | 16.11 | 10.66 | 8.45 | 12.92 | 18.09 |
| P/S Ratio | 2.74 | 2.28 | 1.61 | 1.30 | 2.07 | 2.89 | 1.99 | 2.27 | 1.94 | 3.28 | 3.24 |
| P/B Ratio | 1.19 | 0.97 | 0.82 | 0.65 | 0.79 | 0.86 | 0.68 | 0.83 | 0.69 | 1.04 | 0.95 |
| P/FCF | 14.97 | 12.49 | 10.56 | 5.66 | 4.71 | 9.39 | — | 11.44 | 9.31 | 14.65 | 15.73 |
| P/OCF | 13.79 | 11.50 | 9.92 | 5.34 | 4.57 | 8.88 | 137.94 | 10.80 | 8.08 | 11.23 | 12.53 |
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 | — | 2.15 | 1.70 | 1.46 | 2.63 | 2.54 | 1.41 | 3.59 | 3.71 | 5.01 | 5.50 |
| EV / EBITDA | 10.78 | 8.91 | 8.81 | 7.07 | 7.41 | 4.92 | 5.79 | 10.04 | 10.22 | 13.49 | 15.46 |
| EV / EBIT | 12.48 | 10.31 | 11.13 | 8.74 | 8.98 | 5.96 | 8.37 | 12.87 | 12.51 | 16.92 | 20.65 |
| EV / FCF | — | 11.78 | 11.18 | 6.36 | 5.97 | 8.24 | — | 18.08 | 17.79 | 22.42 | 26.68 |
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 | 69.8% | 69.8% | 57.6% | 61.8% | 83.2% | 101.0% | 68.9% | 75.6% | 78.9% | 83.5% | 84.8% |
| Operating Margin | 20.9% | 20.9% | 15.3% | 16.7% | 29.3% | 42.6% | 16.9% | 27.9% | 29.7% | 29.6% | 26.6% |
| Net Profit Margin | 16.4% | 16.4% | 12.2% | 13.2% | 22.9% | 33.2% | 13.8% | 22.2% | 23.4% | 25.6% | 18.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.2% | 7.2% | 6.2% | 6.7% | 8.8% | 10.1% | 4.7% | 8.3% | 8.4% | 8.3% | 5.3% |
| ROA | 0.8% | 0.8% | 0.7% | 0.7% | 1.0% | 1.2% | 0.6% | 1.1% | 1.1% | 1.1% | 0.7% |
| ROIC | 4.7% | 4.7% | 3.8% | 3.9% | 5.7% | 7.2% | 2.9% | 4.5% | 4.5% | 4.0% | 3.3% |
| ROCE | 5.6% | 5.6% | 4.4% | 4.5% | 6.6% | 8.5% | 3.4% | 5.8% | 6.0% | 5.5% | 4.5% |
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 | 0.43 | 0.43 | 0.51 | 0.57 | 0.67 | 0.30 | 0.38 | 0.65 | 0.83 | 0.71 | 0.87 |
| Debt / EBITDA | 4.19 | 4.19 | 5.20 | 5.57 | 4.93 | 1.95 | 4.58 | 4.97 | 6.45 | 6.02 | 8.37 |
| Net Debt / Equity | — | -0.05 | 0.05 | 0.08 | 0.21 | -0.11 | -0.20 | 0.48 | 0.63 | 0.55 | 0.66 |
| Net Debt / EBITDA | -0.54 | -0.54 | 0.49 | 0.77 | 1.57 | -0.69 | -2.37 | 3.69 | 4.87 | 4.67 | 6.35 |
| Debt / FCF | — | -0.71 | 0.62 | 0.70 | 1.26 | -1.15 | — | 6.64 | 8.48 | 7.77 | 10.96 |
| Interest Coverage | 0.61 | 0.61 | 0.41 | 0.51 | 2.53 | 8.78 | 1.68 | 1.43 | 1.78 | 2.56 | 3.02 |
Net cash position: cash ($12.7B) exceeds total debt ($11.3B)
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 | 1.04 | 1.04 | 0.25 | 0.24 | 0.20 | 0.24 | 0.25 | 0.21 | 0.22 | 0.22 | 0.24 |
| Quick Ratio | 1.04 | 1.04 | 0.25 | 0.24 | 0.20 | 0.24 | 0.25 | 0.21 | 0.22 | 0.22 | 0.24 |
| Cash Ratio | 0.07 | 0.07 | 0.06 | 0.07 | 0.06 | 0.06 | 0.09 | 0.03 | 0.03 | 0.03 | 0.04 |
| Asset Turnover | — | 0.05 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 |
| 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 | 2.4% | 3.0% | 3.9% | 5.1% | 4.1% | 3.3% | 4.4% | 3.4% | 3.3% | 1.5% | 1.3% |
| Payout Ratio | 41.2% | 41.2% | 51.0% | 50.2% | 37.6% | 28.9% | 63.6% | 34.4% | 27.4% | 19.5% | 23.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 6.6% | 6.9% | 9.4% | 10.4% | 10.9% | 6.2% | 9.4% | 11.8% | 7.7% | 5.5% |
| FCF Yield | 6.7% | 8.0% | 9.5% | 17.7% | 21.2% | 10.7% | — | 8.7% | 10.7% | 6.8% | 6.4% |
| Buyback Yield | 3.3% | 3.9% | 6.8% | 5.7% | 0.8% | 1.5% | 1.8% | 6.7% | 7.2% | 3.9% | 2.3% |
| Total Shareholder Yield | 5.7% | 6.9% | 10.7% | 10.8% | 5.0% | 4.8% | 6.2% | 10.0% | 10.5% | 5.4% | 3.6% |
| Shares Outstanding | — | $435M | $454M | $477M | $478M | $427M | $428M | $451M | $480M | $504M | $524M |
NIM compression and provisioning
Based on current market data, CFG trades at a P/B of 1.16, which suggests that investors are pricing the bank as a commodity balance sheet rather than a premium franchise, especially when compared to the higher multiples commanded by peers like Fifth Third Bancorp.
The current valuation implies a modest expectation for future ROTCE, likely reflecting market skepticism regarding the bank's ability to successfully scale its new Private Bank and POS financing initiatives. Investors should monitor whether the P/B multiple expands as the bank shifts toward a more fee-heavy revenue mix, which would justify a premium over its current regional peer group.
As reported in financial statements, the bank's ROE has remained constrained in the 1.5% to 2.0% range over recent quarters, indicating that profitability is currently hampered by persistent NIM stagnation despite the bank's strategic efforts to diversify its income streams through increased non-interest fee contributions.
The DuPont decomposition suggests that the bank's profitability is heavily reliant on asset utilization, as the NIM has remained stubbornly flat at 0.7%. This lack of margin expansion indicates that the bank's cost of funding remains a significant drag on earnings, warranting further investigation into the sustainability of its deposit beta in competitive Northeast markets.
According to recent SEC filings, the efficiency ratio has exhibited significant volatility, swinging from 68.6% in 2025Q4 to 45.5% in 2026Q1, which suggests that management's cost-control initiatives are frequently disrupted by non-recurring integration expenses related to recent regional acquisitions and digital transformation investments.
The inability to maintain a stable efficiency ratio complicates the assessment of operating leverage, as the bank struggles to offset inflationary pressures with its TOP efficiency programs. Investors should monitor whether the 2026Q1 improvement represents a structural shift in cost management or merely a temporary reprieve from integration-related charges.
Based on reported figures, the equity-to-assets ratio has remained remarkably consistent between 0.11 and 0.12 over the last ten quarters, indicating that the bank is maintaining a stable capital adequacy profile despite its ongoing geographic expansion and the integration of acquired regional branch networks.
This consistency suggests that management is prioritizing a fortress-like capital position to navigate potential economic volatility in the Northeast. However, the bank's ability to return capital to shareholders remains sensitive to regulatory capital requirements, which may limit buyback capacity if the bank continues its aggressive push into new metropolitan markets.
The debt-to-equity ratio of 0.43% is the most commonly misapplied metric for this bank, as it significantly understates the true financial leverage inherent in a depository institution and fails to account for the bank's reliance on deposit-based funding rather than traditional debt instruments.
Using D/E to assess CFG's leverage is fundamentally flawed because it ignores the massive deposit base that functions as the primary liability for the bank. Analysts should instead focus on the Tier 1 Capital ratio and the equity-to-assets ratio to gain a more accurate understanding of the bank's true leverage and its capacity to absorb credit losses.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CFG stock.
Citizens Financial Group, Inc.'s current P/E ratio is 18.7x. The historical average is 13.2x. This places it at the 100th percentile of its historical range.
Citizens Financial Group, Inc.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Citizens Financial Group, Inc.'s return on equity (ROE) is 7.2%. The historical average is 5.0%.
Based on historical data, Citizens Financial Group, Inc. is trading at a P/E of 18.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Citizens Financial Group, Inc.'s current dividend yield is 2.40% with a payout ratio of 41.2%.
Citizens Financial Group, Inc. has 69.8% gross margin and 20.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Citizens Financial Group, Inc.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.