Revenue generation remains constrained by a stubborn net interest margin of 0.7% and significant efficiency ratio volatility, which peaked at 68.6% in 2025Q4.
| 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 |
|---|
| Net Interest Income | 6.02B | 5.85B | 5.63B | 6.24B | 6.01B | 4.51B | 4.59B | 4.61B | 4.53B | 4.17B | 3.76B | 3.4B | 3.3B | 3.06B | 3.23B |
| NII Growth % | 31.75% | 3.91% | -9.74% | 3.81% | 33.24% | -1.61% | -0.61% | 1.81% | 8.6% | 11.04% | 10.46% | 3.06% | 7.95% | -5.24% | - |
| Net Interest Margin % | 2.64% | 2.59% | 2.59% | 2.81% | 2.65% | 2.39% | 2.5% | 2.78% | 2.82% | 2.74% | 2.51% | 2.46% | 2.48% | 2.5% | 2.54% |
| Interest Income | 9.73B | 9.66B | 10.19B | 10.2B | 7.06B | 4.85B | 5.36B | 6.19B | 5.76B | 4.92B | 4.27B | 3.85B | 3.66B | 3.5B | 3.85B |
| Interest Expense | 3.71B | 3.81B | 4.55B | 3.96B | 1.05B | 339M | 771M | 1.57B | 1.23B | 747M | 508M | 452M | 363M | 443M | 619M |
| Loan Loss Provision | -451M | -438M | 687M | 687M | 474M | -411M | 1.62B | 393M | 326M | 321M | 369M | 302M | 319M | 479M | 413M |
| Non-Interest Income | 1.55B | 1.49B | 2.16B | 1.98B | 2.01B | 2.13B | 2.32B | 1.88B | 1.6B | 1.53B | 1.5B | 1.42B | 1.39B | 1.63B | 1.67B |
| Non-Interest Income % | 13.72% | 13.32% | 17.5% | 16.27% | 22.15% | 30.56% | 30.21% | 23.27% | 21.7% | 23.77% | 25.98% | 26.95% | 27.5% | 31.79% | 30.24% |
| Total Revenue | 11.28B | 11.15B | 12.35B | 12.19B | 9.07B | 6.99B | 7.68B | 8.07B | 7.35B | 6.45B | 5.76B | 5.28B | 5.05B | 5.13B | 5.51B |
| Revenue Growth % | -27.49% | -9.71% | 1.31% | 34.38% | 29.82% | -8.99% | -4.84% | 9.68% | 13.94% | 11.99% | 9.23% | 4.39% | -1.54% | -6.89% | - |
| Non-Interest Expense | 5.51B | 5.45B | 5.22B | 5.51B | 4.89B | 4.08B | 3.99B | 3.85B | 3.62B | 3.47B | 3.35B | 3.26B | 3.1B | 7.68B | 3.46B |
| Efficiency Ratio | 48.87% | 48.87% | 42.27% | 45.19% | 53.94% | 58.42% | 51.99% | 47.69% | 49.21% | 53.83% | 58.16% | 61.77% | 61.42% | 149.6% | 62.71% |
| Operating Income | 2.51B | 2.33B | 1.89B | 2.03B | 2.65B | 2.98B | 1.3B | 2.25B | 2.18B | 1.91B | 1.53B | 1.26B | 1.27B | -3.47B | 1.02B |
| Operating Margin % | 22.26% | 20.88% | 15.29% | 16.66% | 29.28% | 42.61% | 16.91% | 27.91% | 29.68% | 29.63% | 26.62% | 23.94% | 25.09% | -67.56% | 18.57% |
| Operating Income Growth % | - | 23.31% | -7% | -23.54% | -10.82% | 129.35% | -42.34% | 3.12% | 14.17% | 24.64% | 21.46% | -0.39% | 136.56% | -438.67% | - |
| Pretax Income | 2.51B | 2.33B | 1.89B | 2.03B | 2.65B | 2.98B | 1.3B | 2.25B | 2.18B | 1.91B | 1.53B | 1.26B | 1.27B | -3.47B | 1.02B |
| Pretax Margin % | 22.26% | 20.88% | 15.29% | 16.66% | 29.28% | 42.61% | 16.91% | 27.91% | 29.68% | 29.63% | 26.62% | 23.94% | 25.09% | -67.56% | 18.57% |
| Income Tax | 535M | 497M | 379M | 422M | 582M | 658M | 241M | 460M | 462M | 260M | 489M | 423M | 403M | -42M | 381M |
| Effective Tax Rate % | 21.31% | 21.35% | 20.07% | 20.79% | 21.92% | 22.1% | 18.57% | 20.44% | 21.16% | 13.6% | 31.88% | 33.49% | 31.78% | 1.21% | 37.21% |
| Net Income | 1.98B | 1.83B | 1.51B | 1.61B | 2.07B | 2.32B | 1.06B | 1.79B | 1.72B | 1.65B | 1.04B | 840M | 865M | -3.43B | 643M |
| Net Margin % | 17.51% | 16.42% | 12.22% | 13.19% | 22.86% | 33.19% | 13.77% | 22.2% | 23.4% | 25.6% | 18.13% | 15.92% | 17.12% | -66.74% | 11.66% |
| Net Income Growth % | 27.58% | 21.34% | -6.16% | -22.43% | -10.61% | 119.39% | -40.98% | 4.07% | 4.18% | 58.09% | 24.4% | -2.89% | 125.25% | -632.81% | - |
| Net Income (Continuing) | 1.98B | 1.83B | 1.51B | 1.61B | 2.07B | 2.32B | 1.06B | 1.79B | 1.72B | 1.65B | 1.04B | 840M | 865M | -3.43B | 643M |
| EPS (Diluted) | 4.59 | 3.86 | 3.03 | 3.13 | 4.10 | 5.16 | 2.22 | 3.81 | 3.52 | 3.25 | 1.97 | 1.55 | 1.55 | -6.12 | 1.15 |
| EPS Growth % | 34.39% | 27.39% | -3.19% | -23.66% | -20.54% | 132.43% | -41.73% | 8.24% | 8.31% | 64.97% | 27.1% | 0% | 125.33% | -632.17% | - |
| EPS (Basic) | - | 3.90 | 3.04 | 3.14 | 4.12 | 5.18 | 2.22 | 3.82 | 3.54 | 3.26 | 1.97 | 1.55 | 1.55 | -6.12 | 1.15 |
| Diluted Shares Outstanding | 429.89M | 435.47M | 453.51M | 476.69M | 477.8M | 427.44M | 428.16M | 451.21M | 480.43M | 503.69M | 523.93M | 538.22M | 557.73M | 560M | 560M |
Margin compression and credit
According to the provided quarterly data, Citizens Financial Group has seen net interest income plateau near $1.4B to $1.6B, reflecting a challenging environment where rising funding costs appear to be offsetting the bank's ability to expand its interest-earning asset base effectively over the last ten quarters.
The bank's NII growth has struggled to maintain momentum, oscillating between negative and low-single-digit growth rates. This suggests that the institution is facing significant pressure from deposit betas, which likely limits the pass-through of higher market rates into net interest income.
As reported in the financial statements, the bank's net interest margin has remained stubbornly low at approximately 0.6% to 0.7%, indicating that the spread between asset yields and funding costs is currently constrained by intense competition for deposits and a challenging interest rate environment.
The lack of expansion in NIM despite broader rate cycles suggests that the bank's funding mix may be overly sensitive to rate hikes. Investors should monitor whether the bank can optimize its deposit composition to protect margins from further erosion in the coming quarters.
Based on the reported figures, the efficiency ratio has fluctuated significantly, reaching a high of 68.6% in 2025Q4, which suggests that the bank's operating leverage is currently under pressure as non-interest expenses remain elevated relative to the bank's total revenue generation capacity.
The volatility in the efficiency ratio implies that the bank's cost-cutting initiatives, such as the TOP program, may be struggling to keep pace with revenue headwinds. This trend warrants further investigation into whether the bank's digital-first strategy is delivering the expected operating leverage benefits.
Data from recent filings shows a significant anomaly in 2025Q4 where provision expense turned negative at -$909.0M, a sharp departure from the typical $140M to $180M quarterly range, which suggests potential accounting adjustments or significant reserve releases that distort the bank's underlying earnings profile.
Such large swings in provision expense make it difficult to assess the true credit quality of the loan portfolio. Analysts should be cautious in interpreting these figures, as they may mask underlying credit deterioration or reflect aggressive management of the allowance for credit losses.
As indicated by the quarterly data, non-interest fee income has shown inconsistent performance, including a notable negative contribution in 2025Q4, which highlights the bank's vulnerability to market-driven volatility in its capital markets and transaction-based business lines during periods of economic uncertainty.
The reliance on fee income to supplement NII appears to be a double-edged sword, as these revenue streams are highly sensitive to market conditions. The bank's ability to maintain stable fee growth is critical to offsetting the ongoing pressure on its core net interest margin.
Quick answers to the most common questions about buying CFG-PH stock.
Citizens Financial Group, Inc. (CFG-PH) is profitable, generating $1.83B in net income for the fiscal year ending 2025 with a net profit margin of 16.4%.
Citizens Financial Group, Inc. (CFG-PH) reported an operating income of $2.33B, resulting in an operating profit margin of 20.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Citizens Financial Group, Inc. (CFG-PH) generated $7.78B in gross profit for the year, representing a gross profit margin of 69.8%. This demonstrates the company's core pricing power and production efficiency.