Explain this page
Arphra AIPlain-English read on Citigroup Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
CMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin44.6%
Operating margin11.8%
Net margin8.5%
ROE6.7%
ROA0.5%
ROIC2.5%
Liquidity & leverage
Current ratio0.48×
Quick ratio0.48×
Debt / equity3.35×
Net debt / EBITDA15.86×
Interest coverage0×
Efficiency & per-share
Asset turnover0.06×
Inventory days0
Days sales out.136
FCF / share$11.96
Book value / share$114.80
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $133.84B | $212.41B | — | — | — | — |
| Enterprise value | — | — | — | $447.87B | $578.63B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 2.62 | 3.44 | — | — | — | — |
| EV / FCF | — | — | — | -17.11 | -7.80 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +9.48% | +6.72% | — | — | — | — |
| Free cash flow yield | — | — | — | -19.55% | -34.91% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +94.88% | +69.22% | +43.70% | +41.66% | +44.55% | +44.46% | +43.88% | +43.72% | +43.80% |
| Operating margin | +34.39% | +18.77% | +8.31% | +9.99% | +11.78% | +10.16% | +9.96% | +10.08% | +10.25% |
| EBITDA margin | +39.36% | +23.02% | +11.24% | +12.51% | +13.72% | +12.61% | +12.72% | +12.86% | +12.37% |
| EBIT margin | +34.39% | +18.77% | +8.31% | +9.99% | +11.78% | +9.94% | +9.74% | +10.27% | +9.92% |
| Pre-tax margin | +34.39% | +18.77% | +8.31% | +9.99% | +11.78% | +10.22% | +10.30% | +10.26% | +9.87% |
| Net margin | +27.49% | +14.81% | +5.94% | +7.43% | +8.48% | +7.32% | +7.35% | +7.39% | +7.32% |
| Cost structure | |||||||||
| Cost of revenue / sales | +5.12% | +30.78% | +56.30% | +58.34% | +55.45% | +55.75% | +57.90% | +57.74% | +57.44% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | +1.38% | +0.46% | +0.45% | +0.45% | +0.46% |
| SG&A intensity | +33.48% | +28.24% | +19.77% | +17.42% | +23.43% | +20.72% | +20.65% | +19.75% | +19.63% |
| Effective tax rate | +19.84% | +19.37% | +27.33% | +24.70% | +27.10% | +25.20% | +25.67% | +25.98% | +26.80% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +10.83% | +7.35% | +4.47% | +6.06% | +6.67% | +5.61% | +5.72% | +5.90% | +5.59% |
| Return on assets (ROA) | +0.96% | +0.61% | +0.38% | +0.54% | +0.54% | +0.48% | +0.48% | +0.48% | +0.50% |
| Return on capital (ROC) | +4.06% | +2.60% | +1.60% | +2.13% | +2.13% | +1.96% | +1.92% | +1.95% | +2.03% |
| Return on invested capital (ROIC) | +3.25% | +2.05% | +1.14% | +1.59% | +1.53% | +1.41% | +1.42% | +1.43% | +1.45% |
| Asset turnover | +3.49% | +4.15% | +6.44% | +7.26% | +6.33% | +6.54% | +6.59% | +6.52% | +6.83% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +27.49% | +14.81% | +5.94% | +7.43% | +8.48% | +7.32% | +7.35% | +7.39% | +7.32% |
| Asset turnover (× revenue / assets) | +3.49% | +4.15% | +6.44% | +7.26% | +6.33% | +6.54% | +6.59% | +6.52% | +6.83% |
| Equity multiplier (× assets / equity) | +1130.60% | +1197.33% | +1169.37% | +1123.84% | +1242.72% | +1172.38% | +1181.41% | +1224.42% | +1116.63% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.03 | 0.04 | 0.06 | 0.07 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 |
| Fixed-asset turnover | 3.28 | 3.82 | 5.41 | 5.65 | 5.05 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 1.46 | 1.84 | 2.87 | 3.34 | 2.69 | — | — | — | — |
| Payables turnover | 0.07 | 0.45 | 1.38 | 1.50 | 1.25 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 250.42 | 198.66 | 127.29 | 109.29 | 135.93 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 5482.14 | 818.90 | 265.11 | 244.10 | 292.70 | — | — | — | — |
| Cash conversion cycle | -5231.72 | -620.24 | -137.81 | -134.81 | -156.76 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 2.15 | 1.69 | -7.96 | -1.55 | 2.02 | -1.88 | -1.84 | -1.89 | -1.95 |
| FCF / Net income | 1.96 | 1.31 | -8.67 | -2.06 | 1.56 | -2.44 | -2.41 | -2.43 | -2.42 |
| FCF margin | +53.80% | +19.39% | -51.49% | -15.33% | +13.24% | -17.88% | -17.73% | -17.97% | -17.72% |
| OCF margin | +58.96% | +25.01% | -47.25% | -11.52% | +17.11% | -13.78% | -13.57% | -13.99% | -14.25% |
| CapEx / Revenue | +5.16% | +5.62% | +4.24% | +3.81% | +3.87% | +4.01% | +3.96% | +4.05% | +3.99% |
| CapEx / D&A | 1.04 | 1.32 | 1.44 | 1.51 | — | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 10.14 | 7.00 | 4.04 | 5.95 | 6.99 | 10.87 | 12.50 | 14.58 | 16.39 |
| EPS · basic | 10.21 | 7.04 | 4.07 | 6.03 | 7.23 | 10.99 | 12.85 | 14.75 | 16.73 |
| Book value / share | 98.89 | 102.75 | 105.46 | 110.11 | 114.80 | 65.50 | 67.34 | 68.85 | 73.88 |
| Tangible BV / share | 86.31 | 90.47 | 92.92 | 97.60 | 102.24 | 65.50 | 67.34 | 68.85 | 73.88 |
| Sales / share | 38.97 | 51.02 | 79.45 | 89.78 | 90.36 | 50.19 | 52.41 | 54.97 | 56.34 |
| Operating CF / share | 22.98 | 12.76 | -37.54 | -10.34 | 15.46 | -6.92 | -7.11 | -7.69 | -8.03 |
| Free cash flow / share | 20.97 | 9.90 | -40.90 | -13.76 | 11.96 | -8.97 | -9.29 | -9.88 | -9.98 |
| Dividends / share | 2.54 | 2.55 | 2.66 | 2.73 | 2.88 | 1.58 | 1.69 | 1.77 | 1.83 |
| Payout ratio | +23.68% | +33.70% | +56.48% | +41.00% | +37.65% | +43.06% | +43.83% | +43.58% | +44.33% |
| Retention ratio | +76.32% | +66.30% | +43.52% | +59.00% | +62.35% | +56.94% | +56.17% | +56.42% | +55.67% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +25.48% | +55.04% | +9.86% | -1.41% | -44.41% | +3.82% | +4.63% | +3.52% | +3.50% |
| Gross profit · YoY | — | -8.46% | -2.11% | +4.74% | +5.43% | -44.52% | +2.47% | +4.24% | +3.71% | -6.03% |
| Profit | ||||||||||
| Operating income · YoY | — | -31.53% | -31.36% | +32.04% | +16.32% | -52.05% | +1.79% | +5.82% | +5.29% | -11.03% |
| EBITDA · YoY | — | -26.61% | -24.27% | +22.25% | +8.15% | -48.92% | +4.74% | +5.80% | -0.49% | -10.44% |
| Net income · YoY | — | -32.38% | -37.84% | +37.43% | +12.51% | -51.97% | +4.23% | +5.19% | +2.57% | -12.27% |
| Operating | ||||||||||
| EBIT · YoY | — | -31.53% | -31.36% | +32.04% | +16.32% | -53.12% | +1.81% | +10.29% | -0.02% | -11.39% |
| R&D · YoY | — | — | — | — | — | -81.59% | +2.52% | +3.60% | +7.03% | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -30.97% | -42.29% | +47.28% | +17.48% | +55.57% | +14.94% | +16.63% | +12.44% | +6.19% |
| EPS · basic · YoY | — | -31.05% | -42.19% | +48.16% | +19.90% | +51.97% | +16.94% | +14.82% | +13.40% | +6.37% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $473.63B | $521.15B | $602.18B | $590.56B | $715.8B | $363.43B | $378.72B | $398.03B | $394.4B |
| Net debt | $211.6B | $179.12B | $341.25B | $314.03B | $366.22B | $195.91B | $200.79B | $213.08B | $210.21B |
| Net debt / EBITDA | 6.73 | 7.76 | 19.53 | 14.70 | 15.86 | 16.61 | 16.25 | 16.30 | 16.16 |
| Debt / equity | 2.34 | 2.58 | 2.92 | 2.82 | 3.35 | 2.98 | 3.03 | 3.13 | 2.86 |
| Debt / assets | +20.67% | +21.56% | +24.97% | +25.10% | +26.94% | +25.39% | +25.69% | +25.54% | +25.60% |
| Equity / assets | +8.84% | +8.35% | +8.55% | +8.90% | +8.05% | +8.53% | +8.46% | +8.17% | +8.96% |
| Coverage | |||||||||
| EBITDA / interest expense | 3.94 | 0.90 | 0.22 | 0.24 | 0.28 | 0.25 | 0.25 | 0.25 | 0.24 |
| Operating income / interest | 3.44 | 0.73 | 0.16 | 0.19 | 0.24 | 0.20 | 0.19 | 0.20 | 0.20 |
| Interest expense | $7.98B | $25.74B | $78.36B | $89.62B | $83.07B | $48.04B | $50.14B | $52.32B | $53.71B |
| Liquidity | |||||||||
| Current ratio | 0.34 | 0.34 | 0.30 | 0.31 | 0.48 | — | — | — | — |
| Quick ratio | 0.34 | 0.34 | 0.30 | 0.31 | 0.48 | — | — | — | — |
| Cash ratio | 0.15 | 0.18 | 0.14 | 0.15 | 0.23 | — | — | — | — |
| Working capital | -$1.16T | -$1.22T | -$1.28T | -$1.24T | -$792.17B | — | — | — | — |
| Working capital / revenue | -1456.56% | -1217.36% | -825.67% | -725.82% | -470.68% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 3.44x | 2.62x |
| Earnings yield | 6.7% | 9.5% |
| FCF yield | -34.9% | -19.6% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 6.7% | 6.1% |
| ROA | 0.5% | 0.5% |
| ROIC | 0.9% | 1.5% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 15.86 | 14.70 |
| Interest coverage | — | — |
| Current ratio | 0.48x | 0.31x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).