Capital allocation remains aggressive with $7.5 billion returned to shareholders in 2026Q1, even as the firm actively rebalanced its $2.5 trillion securities portfolio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | -30.8B | -67.63B | -19.67B | -73.42B | 25.07B | 47.09B | -23.49B | -12.84B | 36.95B | -8.77B | 53.93B | 39.74B | 46.34B | 63.24B | -10.36B | 64.8B | 35.69B | 9.81B | -18.29B | 10.21B | 56.52B | 31.36B | -2.4B | -14.85B | 29.89B | 26.58B | 2.67B | 11.22B | 6.74B | 7.75B | 10.39B |
| Operating CF Growth % | 60.76% | -243.85% | 73.21% | -392.86% | -46.76% | 300.49% | -82.97% | -134.74% | 521.15% | -116.27% | 35.72% | -14.25% | -26.72% | 710.35% | -115.99% | 81.57% | 263.7% | 153.65% | -279.15% | -81.94% | 80.23% | 1404.49% | 83.82% | -149.7% | 12.44% | 894.31% | -76.18% | 66.54% | -13.08% | -25.42% | 339.16% |
| Net Income | 15.99B | 14.31B | 12.68B | 9.23B | 15.08B | 21.95B | 11.07B | 19.41B | 18.05B | -6.69B | 14.97B | 17.3B | 7.31B | 13.39B | 7.6B | 11B | 10.67B | -1.16B | -31.69B | 2.91B | 20.45B | 19.81B | 16.05B | 17.85B | 13.45B | 14.13B | 13.52B | 11.37B | 6.95B | 6.71B | 7.07B |
| Depreciation & Amortization | 4.44B | 4.37B | 4.31B | 4.56B | 4.26B | 3.96B | 3.94B | 3.9B | 3.75B | 3.66B | 3.72B | 3.51B | 3.59B | 3.3B | 2.51B | 2.87B | 2.66B | 2.85B | 2.47B | 2.42B | 2.5B | 2.32B | 2.06B | 2.12B | 1.93B | 4.48B | 4.32B | 3.84B | 3.32B | 2.64B | 2.37B |
| Deferred Taxes | 292M | 452M | -1.9B | -2.42B | -1.14B | 1.41B | -2.33B | -610M | -51M | 24.88B | 1.46B | 2.79B | 3.35B | 2.7B | -4.09B | -74M | -964M | -7.71B | -20.54B | -3.93B | 102M | -181M | -1.21B | 566M | -204M | 1.01B | 1.54B | 598M | -210M | -1.43B | 475M |
| Other Non-Cash Items | 14.09B | -1.89B | 24.26B | 14.6B | -12.68B | -19.1B | 17.02B | 23.82B | -628M | 3.26B | 13.22B | -3.07B | 11.81B | 12.66B | 25.5B | 15.51B | 17.61B | 106.61B | -96.81B | 115.73B | 54.08B | 6.11B | 17.89B | 25.91B | 14.46B | 23.91B | 14.14B | -10.66B | -33.62B | 9.56B | -29.59B |
| Working Capital Changes | -65.65B | -84.87B | -59.03B | -99.39B | 19.55B | 38.86B | -53.18B | -59.36B | 15.82B | -33.88B | 20.57B | 19.21B | 20.28B | 31.19B | -41.88B | 35.49B | 5.7B | -90.78B | 128.28B | -106.92B | -20.61B | 3.31B | -37.2B | -61.3B | 258M | -16.95B | -30.84B | 6.08B | 30.3B | -9.72B | 30.06B |
| Cash from Investing | -21.69B | -108.28B | 86.25B | -8.46B | -79.45B | -110.75B | -92.44B | -23.37B | -73.12B | -38.75B | -54.13B | 14.88B | 28.58B | -91.34B | 30.34B | 11.27B | 43.34B | -27.23B | 36.82B | -144.01B | -260.71B | -60.22B | -80.3B | -46.31B | -59.12B | -37.61B | -68.38B | -36.12B | -46.61B | -26.33B | -26.53B |
| Purchase of Investments | -304B | -281.52B | -267.42B | -236.51B | -261.65B | -391.73B | -332.39B | -274.49B | -152.49B | -185.74B | -211.4B | -242.36B | -258.99B | -220.82B | -256.91B | -314.25B | -406.05B | -281.12B | -344.34B | -274.43B | -296.12B | -203.02B | -195.9B | -208.04B | -393.88B | -454.15B | -106.55B | -92.5B | -94.64B | -79.09B | -68.99B |
| Sale/Maturity of Investments | 320.56B | 330.24B | 301.64B | 255.16B | 232.81B | 271.08B | 270.51B | 256.22B | 145.09B | 191.74B | 197.71B | 223.52B | 229.94B | 215.93B | 245.87B | 322.52B | 373.5B | 219.01B | 302.98B | 333.1B | 208.11B | 180.26B | 175.79B | 199.14B | 358.74B | 434.94B | 102.33B | 87.88B | 81.02B | 69.95B | 60.12B |
| Net Investment Activity | 16.57B | 48.72B | 34.22B | 18.65B | -28.84B | -120.65B | -61.87B | -18.27B | -7.39B | 6B | -13.69B | -18.84B | -29.05B | -4.89B | -11.03B | 8.28B | -32.54B | -62.11B | -41.36B | 58.67B | -88.01B | -22.76B | -20.11B | -8.9B | -35.14B | -19.2B | -4.21B | -4.62B | -13.63B | -9.14B | -8.87B |
| Acquisitions | 0 | 0 | 0 | -1.39B | 5.74B | 190M | 0 | 0 | 314M | 3.41B | 265M | -13B | -909M | 0 | 0 | 0 | 0 | 0 | 0 | -15.61B | 0 | -602M | -3.68B | -21.46B | -3.95B | -7.07B | -8.84B | -6.32B | -6.57B | 0 | 0 |
| Other Investing | -31.84B | -150.48B | 58.53B | -19.13B | -50.72B | 13.84B | -27.13B | 229M | -62.27B | -44.8B | -37.95B | 49.92B | 61.93B | -82.96B | 44.97B | 6.44B | 78.24B | 37.14B | 81.96B | -183.07B | -168.66B | -33.14B | -53.5B | -13.59B | -18.66B | -9.57B | -53.07B | -23.43B | -24.27B | -15.66B | -11.91B |
| Cash from Financing | 124.3B | 238.03B | -38.3B | 687M | 137.76B | 17.27B | 233.59B | 42.93B | 44.53B | 66.85B | 28.29B | -64.77B | -70.27B | 30.9B | -25.36B | -56.65B | -77.43B | 13.01B | -24.54B | 144.49B | 206.43B | 33.08B | 83.14B | 64.41B | 27.95B | 15.25B | 64.88B | 26.57B | 41.58B | 21.72B | 17.26B |
| Dividends Paid | -5.4B | -5.37B | -5.2B | -5.21B | -5B | -5.2B | -5.35B | -5.45B | -5.02B | -3.8B | -2.29B | -1.25B | -633M | -314M | -143M | -107M | -9M | -3.24B | -7.53B | -10.78B | -9.83B | -9.19B | -8.38B | -5.77B | -3.68B | -3.19B | -2.65B | -2.14B | -1.99B | -1.69B | -1.53B |
| Share Repurchases | -21.15B | -18.25B | -7.52B | -6.12B | -3.25B | -11.39B | -4.42B | -19.55B | -15.23B | -14.54B | -9.29B | -5.45B | -1.23B | -931M | -5M | -1M | -6M | -3M | -7M | -663M | -7B | -12.79B | -779M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 2.5B | 7.19B | 5.28B | 2.74B | 0 | 3.3B | 3B | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.75B | 3.75B | 20.3B | 6.86B | 1.06B | 1.8B | 1.4B | 912M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -18.65B | -11.06B | -2.24B | -3.38B | -3.25B | -8.09B | -1.43B | -18.05B | -15.23B | -14.54B | -9.29B | -5.45B | -1.23B | -931M | -5M | 3.75B | 3.74B | 20.3B | 6.86B | 397M | -5.2B | -11.39B | 133M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K |
| Other Financing | 71.3B | 232.39B | -48.03B | 18.06B | 79.23B | 36.39B | 242.86B | 45.63B | 74.36B | 30.01B | 19.4B | -18.82B | -78.92B | 29.46B | 77.29B | 23.63B | 8.26B | 61.6B | -38.21B | 92.47B | 120.46B | 27.21B | 69.84B | 44.28B | 32.81B | 44.32B | 39.74B | 33.17B | 30.87B | 15.02B | 18.98B |
| Net Change in Cash | 77.39B | 73.05B | 15.6B | -81.09B | 79.99B | -47.58B | 115.7B | 5.81B | 7.59B | 20.02B | 27.4B | -11.21B | 2.22B | -6.57B | 7.75B | 729M | 2.5B | -3.78B | -8.95B | 11.69B | 2.88B | 3.02B | 1.34B | 3.82B | -1.19B | 3.89B | -1.36B | 1.58B | 1.63B | 2.45B | 951M |
| Exchange Rate Effect | 5.57B | 10.93B | -12.68B | 95M | -3.38B | -1.2B | -1.97B | -908M | -773M | 693M | -493M | -1.05B | -2.43B | -1.56B | 274M | -1.3B | 691M | 632M | -2.95B | 1B | 645M | -1.84B | 731M | 579M | 98M | -323M | -530M | -98M | -82M | -688M | -170M |
| Cash at Beginning | 349.58B | 276.53B | 260.93B | 342.02B | 262.03B | 309.62B | 193.92B | 188.1B | 180.52B | 160.49B | 133.1B | 32.11B | 29.89B | 36.45B | 28.7B | 27.97B | 25.47B | 29.25B | 38.21B | 26.51B | 23.63B | 20.61B | 19.28B | 17.33B | 18.52B | 14.62B | 15.98B | 14.4B | 12.77B | 10.16B | 9.21B |
| Cash at End | 385.72B | 349.58B | 276.53B | 260.93B | 342.02B | 262.03B | 309.62B | 193.92B | 188.1B | 180.52B | 160.49B | 20.9B | 32.11B | 29.89B | 36.45B | 28.7B | 27.97B | 25.47B | 29.25B | 38.21B | 26.51B | 23.63B | 20.61B | 21.15B | 17.33B | 18.52B | 14.62B | 15.98B | 14.4B | 12.62B | 10.16B |
| Interest Paid | 61.59B | 80.98B | 88.03B | 72.99B | 22.61B | 7.14B | 12.09B | 27.9B | 22.96B | 15.68B | 12.07B | 12.03B | 14B | 15.65B | 19.74B | 21.23B | 23.21B | 28.39B | 55.68B | 72.73B | 51.47B | 32.08B | 18.54B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 5B | 6.51B | 5.8B | 5.73B | 3.73B | 4.03B | 4.8B | 4.89B | 4.31B | 2.08B | 4.36B | 4.98B | 4.63B | 4.5B | 3.9B | 2.71B | 4.31B | 289M | 3.17B | 5.92B | 9.23B | 8.62B | 6.81B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -37.22B | -74.15B | -26.17B | -80B | 19.44B | 42.97B | -26.93B | -18.17B | 33.18B | -12.13B | 51.18B | 36.54B | 42.96B | 59.75B | -13.97B | 61.35B | 33.32B | -56.87B | 94B | -75.55B | -4.2B | 28.32B | -5.12B | -17.21B | 28.51B | 24.8B | 424M | 9.47B | 4.6B | 6.22B | 4.64B |
| FCF Growth % | 49.68% | -183.36% | 67.29% | -511.58% | -54.77% | 259.54% | -48.21% | -154.77% | 373.41% | -123.71% | 40.06% | -14.94% | -28.11% | 527.85% | -122.77% | 84.1% | 158.59% | -160.5% | 224.41% | -1698.9% | -114.83% | 653.09% | 70.25% | -160.36% | 14.93% | 5750% | -95.52% | 105.76% | -25.98% | 34.08% | 95.99% |
Regulatory transformation execution risk
According to recent SEC filings, Citigroup generated $5.8 billion in net income during 2026Q1, providing a foundational buffer for regulatory capital requirements despite the ongoing, heavy expenditure associated with the firm's multi-year infrastructure transformation and the persistent drag of legacy asset divestitures on overall capital efficiency.
The bank's ability to retain earnings remains the primary engine for maintaining its CET1 ratio amidst evolving Basel III Endgame standards. Investors should monitor whether the current pace of earnings generation can sufficiently offset the capital consumption required by the bank's global institutional services expansion.
As reported in financial statements, Citigroup engaged in significant investment activity during 2026Q1, with $101.3 billion in purchases and $98.9 billion in sales, suggesting a highly active management of the securities portfolio to navigate shifting interest rate environments and optimize the bank's liquidity profile.
The high turnover in the investment book indicates that management is actively adjusting duration and yield sensitivity to protect net interest margins. This level of activity warrants further investigation into the potential for realized gains or losses that may introduce volatility into the bank's quarterly earnings reports.
Based on Citigroup's reported figures, the firm returned $7.5 billion to shareholders through dividends and buybacks in 2026Q1, a significant commitment that appears to prioritize capital return despite the ongoing need for substantial investment in technology and regulatory compliance to satisfy outstanding consent orders.
The consistency of these returns suggests management's confidence in the bank's capital position, yet it may also limit the flexibility to absorb unexpected regulatory fines or credit shocks. Analysts should evaluate whether this payout level is sustainable if the efficiency ratio fails to improve toward the 60% target.
Data from recent regulatory filings shows that Citigroup recorded $2.6 billion in loan loss provisions for 2026Q1, a figure that remains elevated and reflects the bank's cautious approach to managing credit risk as consumer card portfolios normalize toward pre-pandemic delinquency levels across the US retail segment.
This provisioning strategy appears to be a proactive measure to ensure the adequacy of reserves against potential macroeconomic headwinds. The persistence of these charges suggests that credit costs will remain a meaningful headwind to net income growth in the near term.
Quick answers to the most common questions about buying C stock.
Citigroup Inc. (C) generated $-67632.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Citigroup Inc. (C) reported negative free cash flow of $74.15B in 2025, indicating capital requirements exceeded cash from operations.
Citigroup Inc. (C) spent $6.52B on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Citigroup Inc. (C) returned $5.37B to shareholders via cash dividends and spent $18.25B on share repurchases. This shows the company's commitment to returning capital to its equity investors.