NYSE · Financial Services

Citigroup Inc.

C · Banks - Diversified

$125.26

▼ -1.57 (-1.24%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Citigroup Inc. at $125.26.

The business passes 4 of 6 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability B

Net Income Margin 16.8%

Fin. Health F

Years to Pay Off Debt 25.7 yrs

Valuation D

Margin of Safety 5.9%

Price-to-Book 1.11x

Cash Flow F

Free Cash Flow -$74.2B

CapEx % of Net Income 45.6%

Owner Earnings $25.2B

4/6

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Metric Explanations

What each dimension measures and where the thresholds come from.

Market Data

Market Cap $219.1B

Enterprise Value -$344.6B

P/E (TTM) 15.48

Dividend Yield 1.86%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 16.8%

Company Info

Sector Financial Services

Industry Banks - Diversified

Employees 224000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Citigroup Inc. at $125.26.

The business passes 4 of 6 of Graham's defensive criteria — adequate but not exceptional.

At $125.26, the stock trades below its Graham Number of $133.14 — suggesting a margin of safety exists.

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About Citigroup Inc.

Citigroup Inc., a diversified financial service holding company, provides various financial products and services to consumers, corporations, governments, and institutions. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes treasury and trade solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and securities services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions. The Markets segment offers sales and trading services for equities, foreign exchange, rates, spread products, and commodities to corporate, institutional, and public sector clients; and market-making services, including asset classes, risk management solutions, financing, and prime brokerage. The Banking segment includes investment banking services comprising equity and debt capital markets-related strategic financing solutions; advisory services related to mergers and acquisitions, divestitures, restructurings, and corporate defense activities; and corporate lending consists of corporate and commercial banking. The U.S. Personal Banking segment provides proprietary and co-branded card portfolios; and traditional banking services to retail and small business customers. The Wealth segment offers financial services to high-net-worth clients through banking, lending, mortgages, investment, custody, and trust product offerings; professional industries, including law firms, consulting groups, accounting, and asset management; and affluent and high net worth clients. The company operates in North America, the United Kingdom, Japan, North and South Asia, Australia, Europe, the Middle East, and Africa. Citigroup Inc. was founded in 1812 and is headquartered in New York, New York.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022
Gross Profit %	N/A •	N/A	N/A	N/A
Operating Margin %	N/A •	N/A	N/A	N/A
Net Income %	16.8% ▲	15.7%	11.8%	19.9%
Diluted EPS	6.99 ▲	5.94	4.04	7.00

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$2,657.2B	$2,352.9B	$2,411.8B	$2,416.7B	N/A
Total Debt	$367.7B ↑	$335.8B	$324.1B	$318.7B	N/A
Working Capital	N/A •	N/A	N/A	N/A	N/A
Years to Pay Debt	25.70	26.48	35.12	21.47	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	-$74.2B ▼	-$26.2B	-$80.0B	$19.4B	N/A
Owner Earnings	$25.2B	$23.5B	$20.4B	$24.7B	N/A
CapEx % of Net Income	45.6%	51.3%	71.3%	37.9%	N/A

Income Statement

	2025	2024	2023	2022
Tax Effect Of Unusual Items	-298,371	-192,660	-780,507	24,981
Tax Rate For Calcs	0	0	0	0
Total Unusual Items	-1,101,000	-780,000	-2,859,000	129,000
Total Unusual Items Excluding Goodwill	-1,101,000	-780,000	-2,859,000	129,000
Net Income From Continuing Operation Net Minority Interest	14,309,000	12,684,000	9,229,000	15,076,000
Reconciled Depreciation	4,373,000	4,311,000	4,560,000	4,262,000
Net Interest Income	59,792,000	54,095,000	54,900,000	48,668,000
Interest Expense	83,072,000	89,618,000	78,358,000	25,740,000
Interest Income	142,864,000	143,713,000	133,258,000	74,408,000
Normalized Income	15,111,629	13,271,340	11,307,493	14,971,981
Net Income From Continuing And Discontinued Operation	14,306,000	12,682,000	9,228,000	14,845,000
Diluted Average Shares	1,873,100	1,940,100	1,955,800	1,964,300
Basic Average Shares	1,832,000	1,901,400	1,930,100	1,946,700
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	13,097,000	11,532,000	7,907,000	13,741,000
Average Dilution Earnings	76,000	74,000	57,000	41,000
Net Income Common Stockholders	13,021,000	11,458,000	7,850,000	13,700,000
Otherunder Preferred Stock Dividend	171,000	170,000	180,000	113,000
Preferred Stock Dividends	1,114,000	1,054,000	1,198,000	1,032,000
Net Income	14,306,000	12,682,000	9,228,000	14,845,000
Minority Interests	-146,000	-151,000	-153,000	-89,000
Net Income Including Noncontrolling Interests	14,452,000	12,833,000	9,381,000	14,934,000
Net Income Discontinuous Operations	-3,000	-2,000	-1,000	-231,000
Net Income Continuous Operations	14,455,000	12,835,000	9,382,000	15,165,000
Tax Provision	5,373,000	4,211,000	3,528,000	3,642,000
Pretax Income	19,828,000	17,046,000	12,910,000	18,807,000
Special Income Charges	-1,101,000	-780,000	-2,859,000	129,000
Gain On Sale Of Business	-877,000	-318,000	-372,000	664,000
Other Special Charges	238,000	203,000	1,706,000
Impairment Of Capital Assets				535,000
Restructuring And Mergern Acquisition	-14,000	259,000	781,000	0
Gain On Sale Of Security	107,000	-152,000	-115,000	-460,000
Selling General And Administration	30,823,000	29,745,000	30,712,000	28,305,000
Selling And Marketing Expense	1,097,000	1,113,000	1,393,000	1,556,000
General And Administrative Expense	29,726,000	28,632,000	29,319,000	26,749,000
Insurance And Claims	87,000	90,000	87,000	94,000
Salaries And Wages	29,639,000	28,542,000	29,232,000	26,655,000
Total Revenue	85,213,000	80,672,000	78,090,000	74,480,000
Operating Revenue	85,213,000	80,672,000	78,090,000	74,480,000
Occupancy And Equipment	2,477,000	2,438,000	2,508,000	2,320,000
Professional Expense And Contract Services Expense	2,073,000	2,016,000	2,078,000	2,481,000
Other Non Interest Expense	18,745,000	18,678,000	17,900,000	17,584,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	1,352,206	1,222,648	1,196,578	1,162,683
Preferred Shares Number		22,000	22,000	97,800	97,800
Ordinary Shares Number	1,747,547	1,877,071	1,903,114	1,936,986
Share Issued	3,099,753	3,099,719	3,099,692	3,099,669
Net Debt	18,126,000	59,273,000	63,144,000		20,314,000
Total Debt	367,705,000	335,805,000	324,076,000	318,702,000
Tangible Book Value	168,859,000	166,954,000	163,334,000	158,075,000
Invested Capital	559,946,000	526,553,000	511,929,000	500,896,000
Net Tangible Assets	188,909,000	184,804,000	180,934,000	177,070,000
Common Stock Equity	192,241,000	190,748,000	187,853,000	182,194,000
Preferred Stock Equity	20,050,000	17,850,000	17,600,000	18,995,000
Total Capitalization	528,118,000	495,898,000	492,072,000	472,795,000
Total Equity Gross Minority Interest	213,822,000	209,366,000	206,251,000	201,838,000
Minority Interest	1,531,000	768,000	798,000	649,000
Stockholders Equity	212,291,000	208,598,000	205,453,000	201,189,000
Gains Losses Not Affecting Retained Earnings	-41,897,000	-47,852,000	-44,800,000	-47,062,000
Other Equity Adjustments	-41,897,000	-47,852,000	-44,800,000	-47,062,000
Treasury Stock	89,473,000	76,842,000	75,238,000	73,967,000
Retained Earnings	215,128,000	206,294,000	198,905,000	194,734,000
Additional Paid In Capital	108,452,000	109,117,000	108,955,000	108,458,000
Capital Stock	20,081,000	17,881,000	17,631,000	19,026,000
Common Stock	31,000	31,000	31,000	31,000
Preferred Stock	20,050,000	17,850,000	17,600,000	18,995,000
Total Liabilities Net Minority Interest	2,443,380,000	2,143,579,000	2,205,583,000	2,214,838,000
Long Term Debt And Capital Lease Obligation	315,827,000	287,300,000	286,619,000	271,606,000
Long Term Debt	315,827,000	287,300,000	286,619,000	271,606,000
Long Term Provisions					1,900,000
Current Debt And Capital Lease Obligation	51,878,000	48,505,000	37,457,000	47,096,000
Current Debt	51,878,000	48,505,000	37,457,000	47,096,000
Other Current Borrowings	31,937,000	19,589,000	17,235,000	21,566,000
Commercial Paper	19,941,000	28,916,000	20,222,000	25,530,000
Payables And Accrued Expenses	74,836,000	66,601,000	63,539,000	69,218,000
Payables	74,836,000	66,601,000	63,539,000	69,218,000
Accounts Payable	74,836,000	66,601,000	63,539,000	69,218,000
Total Assets	2,657,202,000	2,352,945,000	2,411,834,000	2,416,676,000
Investments And Advances	747,551,000	720,724,000	721,817,000	716,228,000
Held To Maturity Securities	189,761,000	242,382,000	254,247,000	268,863,000
Available For Sale Securities	7,678,000	7,399,000	7,902,000	8,040,000
Trading Securities	308,323,000	249,456,000	214,600,000	200,579,000
Goodwill And Other Intangible Assets	23,382,000	23,794,000	24,519,000	24,119,000
Other Intangible Assets	4,284,000	4,494,000	4,421,000	4,428,000
Goodwill	19,098,000	19,300,000	20,098,000	19,691,000
Net PPE	33,339,000	30,192,000	28,747,000	26,253,000
Receivables	62,798,000	51,116,000	54,190,000	54,546,000
Other Receivables	119,000	275,000	275,000	354,000
Accounts Receivable	62,679,000	50,841,000	53,915,000	54,192,000
Other Short Term Investments	241,789,000	221,487,000	245,068,000	238,746,000
Cash And Cash Equivalents	349,579,000	276,532,000	260,932,000	342,025,000
Cash Financial	23,717,000	22,782,000	27,342,000	30,577,000
Cash Cash Equivalents And Federal Funds Sold	705,774,000	550,594,000	606,632,000	707,426,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	-74,152,000	-26,169,000	-79,999,000	19,437,000
Repurchase Of Capital Stock	-18,250,000	-7,524,000	-6,122,000	-3,250,000
Repayment Of Debt	-103,321,000	-92,957,000	-64,959,000	-57,085,000
Issuance Of Debt	122,029,000	99,075,000	65,819,000	104,748,000
Issuance Of Capital Stock	7,186,000	5,282,000	2,739,000	0
Capital Expenditure	-6,520,000	-6,500,000	-6,583,000	-5,632,000
Interest Paid Supplemental Data	80,983,000	88,027,000	72,989,000	22,615,000
Income Tax Paid Supplemental Data	6,514,000	5,798,000	5,727,000	3,733,000
End Cash Position	349,579,000	276,532,000	260,932,000	342,025,000
Beginning Cash Position	276,532,000	260,932,000	342,025,000	262,033,000
Effect Of Exchange Rate Changes	10,930,000	-12,677,000	95,000	-3,385,000
Changes In Cash	62,117,000	28,277,000	-81,188,000	83,377,000
Financing Cash Flow	238,031,000	-38,304,000	687,000	137,763,000
Cash Flow From Continuing Financing Activities	238,031,000	-38,304,000	687,000	137,763,000
Net Other Financing Charges	1,098,000	-454,000	-329,000	-344,000
Cash Dividends Paid	-5,372,000	-5,199,000	-5,212,000	-5,003,000
Net Preferred Stock Issuance	2,186,000	232,000	-1,406,000	0
Preferred Stock Payments	-5,000,000	-5,050,000	-4,145,000	0
Preferred Stock Issuance	7,186,000	5,282,000	2,739,000	0
Net Common Stock Issuance	-13,250,000	-2,474,000	-1,977,000	-3,250,000
Common Stock Payments	-13,250,000	-2,474,000	-1,977,000	-3,250,000
Net Issuance Payments Of Debt	22,081,000	17,166,000	-8,779,000	66,786,000
Net Short Term Debt Issuance	3,373,000	11,048,000	-9,639,000	19,123,000
Net Long Term Debt Issuance	18,708,000	6,118,000	860,000	47,663,000
Long Term Debt Payments	-103,321,000	-92,957,000	-64,959,000	-57,085,000
Long Term Debt Issuance	122,029,000	99,075,000	65,819,000	104,748,000
Investing Cash Flow	-108,282,000	86,250,000	-8,459,000	-79,455,000
Cash Flow From Continuing Investing Activities	-108,282,000	86,250,000	-8,459,000	-79,455,000
Net Other Investing Changes	2,167,000	2,512,000	835,000	-791,000
Net Investment Purchase And Sale	48,720,000	34,217,000	18,649,000	-28,841,000
Sale Of Investment	330,241,000	301,641,000	255,161,000	232,809,000
Purchase Of Investment	-281,521,000	-267,424,000	-236,512,000	-261,650,000
Net Business Purchase And Sale	0	0	-1,393,000	5,741,000
Sale Of Business				5,741,000	0
Purchase Of Business	0	0	-1,393,000
Net PPE Purchase And Sale	62,000	222,000	56,000	63,000
Sale Of PPE	62,000	222,000	56,000	63,000
Capital Expenditure Reported	-6,520,000	-6,500,000	-6,583,000	-5,632,000
Operating Cash Flow	-67,632,000	-19,669,000	-73,416,000	25,069,000
Cash Flow From Continuing Operating Activities	-67,632,000	-19,669,000	-73,416,000	25,069,000
Change In Working Capital	-84,872,000	-59,031,000	-99,387,000	19,553,000
Change In Other Working Capital	-69,214,000	-46,537,000	-98,542,000	14,781,000
Change In Other Current Liabilities	-863,000	-7,692,000	3,587,000	5,343,000
Change In Other Current Assets	-12,923,000	-4,026,000	-6,361,000	-4,992,000
Other Non Cash Items	-14,109,000	14,051,000	6,739,000	-18,125,000
Asset Impairment Charge	726,000	0	0	535,000
Deferred Tax	452,000	-1,896,000	-2,416,000	-1,141,000
Deferred Income Tax	452,000	-1,896,000	-2,416,000	-1,141,000
Depreciation Amortization Depletion	4,373,000	4,311,000	4,560,000	4,262,000
Depreciation And Amortization	4,373,000	4,311,000	4,560,000	4,262,000
Operating Gains Losses	1,224,000	103,000	-1,327,000	-330,000
Gain Loss On Investment Securities	-471,000	-328,000	-188,000	-67,000
Gain Loss On Sale Of Business	1,354,000	0	-1,462,000	-762,000
Net Income From Continuing Operations	14,309,000	12,684,000	9,229,000	15,076,000

These metrics estimate what Citigroup Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$133.14

Margin of Safety

5.9%

Market Cap ÷ Company Value

2.47

P/B Ratio

1.11

Warren's Owner Earnings

$25.2B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

4/6 — Enterprising Investor

✅ Adequate Size

$85.2B

vs > $1.5B revenue

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

1.86%

vs Uninterrupted dividends

❌ Earnings Growth

-0.1% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

15.5x

vs P/E ≤ 15.0x

✅ Moderate Price-to-Book

1.11x P/B (P/E×P/B: 17.2)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

N/A

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

N/A

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	45.6%	51.3%	71.3%	37.9%	N/A
Repurchase of Capital Stock	-$18.2B	-$7.5B	-$6.1B	-$3.2B	N/A
Free Cash Flow	-$74.2B ▼	-$26.2B ▲	-$80.0B ▼	$19.4B •	N/A •
Warren's Owner Earnings	$25.2B	$23.5B	$20.4B	$24.7B	N/A

Peers & Industry

No auto-detected peers for Banks - Diversified. You can manually compare C against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.27%

Low — management has little skin in the game

Return on Equity (ROE)

7.4%

Weak — poor returns on equity

Return on Assets (ROA)

0.5%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$18.2B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+9.5% YoY

Debt is roughly stable

Leadership Team

Jane Nind Fraser Ph.

CEO & Chair of the Board

Age 57

Pay: $7,587,000

0.053% of net income

Mark Mason

Executive Vice Chairman and Senior Executive Advisor to Chair & CEO

Age 55

Pay: $9,415,640

0.066% of net income

Viswas Raghavan

Executive Vice Chairman & Head of Banking

Age 59

Pay: $23,468,649

0.164% of net income

Gonzalo Luchetti

Chief Financial Officer

Age 51

Anand Selvakesari

Chief Operating Officer

Age 57

Pay: $8,183,176

0.057% of net income

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	9.52%	163,239,926
Blackrock Inc.	9.43%	161,638,542
State Street Corporation	4.66%	79,914,501
Capital World Investors	2.72%	46,712,093
Geode Capital Management, LLC	2.52%	43,252,372
Franklin Resources, Inc.	1.99%	34,196,783
Price (T.Rowe) Associates Inc	1.99%	34,103,871
Fisher Asset Management, LLC	1.98%	33,887,285

Risk Analysis

Beta (Market Risk)

1.12

Moderate volatility — moves slightly more than market

Short Interest

0.0% of float

Low short interest — market is not heavily bearish

52-Week Price Range

Low: $69.17 Current: $125.26 High: $135.29

Currently at 85% of 52-week range

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