Question 1

What is Citigroup's P/FCF ratio?

Accepted Answer

Citigroup (C) P/FCF ratio is 6.4× as of August 3, 2023. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Citigroup?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Citigroup specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is Citigroup's P/FCF ratio high or low?

Accepted Answer

Citigroup's P/FCF ratio of 6.4× is above its own 5-year average of 4.0× and below the sector median of 12.0×. That places the current reading at the 64th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Citigroup's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Citigroup (C) P/FCF ratio has ranged from a low of 0.2× in 2009 to a high of 44.2× in 2020. The 5-year average is 4.0× and the 5-year median is 2.5×.

Question 7

What was Citigroup's P/FCF ratio in 2022?

Accepted Answer

Citigroup (C) P/FCF ratio at the end of 2022 was 2.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Citigroup's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$212B	-$74.2B	—	—	Dec 31, 2025
2024	$133B	-$26.2B	—	—	Dec 31, 2024
2023	$98.2B	-$80B	—	—	Dec 31, 2023
2022	$87.6B	$35.9B	2.4×	+0.3×	Dec 31, 2022
2021	$120B	$57.1B	2.1×	—	Dec 31, 2021
2020	$128B	-$24.1B	—	—	Dec 31, 2020
2019	$172B	-$18.2B	—	—	Dec 31, 2019
2018	$125B	$33.2B	3.8×	—	Dec 31, 2018
2017	$194B	-$12.1B	—	—	Dec 31, 2017
2016	$167B	$51.2B	3.3×	-0.9×	Dec 31, 2016
2015	$154B	$36.5B	4.2×	+1.5×	Dec 31, 2015
2014	$164B	$59.9B	2.7×	-0.2×	Dec 31, 2014
2013	$158B	$53.9B	2.9×	-8.0×	Dec 31, 2013
2012	$116B	$10.7B	10.9×	+9.1×	Dec 31, 2012
2011	$76.7B	$41.3B	1.9×	-2.3×	Dec 31, 2011
2010	$137B	$33.2B	4.1×	—	Dec 31, 2010
2009	$77.4B	-$56.6B	—	—	Dec 31, 2009
2008	$35.9B	$94.6B	0.4×	—	Dec 31, 2008
2007	$145B	-$75.4B	—	—	Dec 31, 2007
2006	$270B	-$166B	—	—	Dec 31, 2006
2005	$239B	$175B	1.4×	—	Dec 31, 2005
2004	$247B	-$5.42B	—	—	Dec 31, 2004
2003	$247B	-$17.2B	—	—	Dec 31, 2003
2002	$178B	$28.5B	6.3×	—	Dec 31, 2002


UMB Financial (UMBF)	8.8×
Federal Agricultural Mortgage (AGM)	8.6×
T. Rowe Price (TROW)	8.6×
First Financial (THFF)	8.3×
Old Republic International (ORI)	8.0×
1st Source (SRCE)	8.0×
Auburn National Bancorporation (AUBN)	7.7×
Eagle Financial Services (EFSI)	7.5×
PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
American Financial Group (AFG)	6.8×
Hartford Insurance Group (HIG)	6.5×
Travelers Companies (TRV)	6.3×
Invesco (IVZ)	6.1×
Arch Capital Group (ACGL)	5.9×
Principal Financial Group (PFG)	5.5×
Allstate (ALL)	4.7×
Everest Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
MetLife (MET)	2.8×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for Citigroup (C) 2002-2026

P/FCF Ratio daily chart for Citigroup (C)

Historical P/FCF Ratio for Citigroup (C) from 2002 to 2025

About P/FCF Ratio at Citigroup (C)

Citigroup P/FCF Ratio by Year

Citigroup P/FCF Ratio 2022: 2.4×

Citigroup P/FCF Ratio 2021: 2.1×

Citigroup P/FCF Ratio 2018: 3.8×

Citigroup P/FCF Ratio 2016: 3.3×

Citigroup P/FCF Ratio 2015: 4.2×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Citigroup (C) Key Financials