Citigroup Inc (C) Q3 2024: C

Executive Summary

Citigroup Inc reported a stable performance in Q3 2024 with net income of $3.238 billion and earnings per share (EPS) of $1.51, demonstrating resilience in the face of fluctuating macroeconomic conditions. Notably, revenue increased by 3% year-over-year excluding divestitures, supported by strong performance across all business segments. Management expressed confidence in their ongoing transformation strategy, which emphasizes operational efficiency and revenue diversification. The earnings growth was particularly attributed to a healthy demand in fee-based services and banking activities, despite market challenges and interest rate dynamics.

Key Performance Indicators

Revenue

19.86B

QoQ: -1.40% | YoY:-1.39%

Gross Profit

19.86B

1.00% margin

QoQ: -1.40% | YoY:-1.39%

Operating Income

6.72B

QoQ: -3.06% | YoY:-0.06%

Net Income

3.24B

QoQ: 0.65% | YoY:-8.69%

EPS

1.54

QoQ: 0.00% | YoY:-6.10%

Revenue Trend

Margin Analysis

Key Insights

**Total Revenue:** $19.862 billion (YoY growth of 3% ex-divestitures)
**Net Income:** $3.238 billion (Net Margin: 16.3%, EPS: $1.51)
**CET1 Ratio:** 13.7%
**Return on Tangible Common Equity (RoTCE):** 7%
**Operating Expenses:** $13.3 billion, down 2% YoY

Financial Highlights

### Key Financial Metrics (Q3 2024)
- Total Revenue: $19.862 billion (YoY growth of 3% ex-divestitures)
- Net Income: $3.238 billion (Net Margin: 16.3%, EPS: $1.51)
- CET1 Ratio: 13.7%
- Return on Tangible Common Equity (RoTCE): 7%
- Operating Expenses: $13.3 billion, down 2% YoY

Citi demonstrated improved efficiency with a slight reduction in expenses while investing in transformation efforts, reflecting positive operating leverage across all business lines. The net interest income (NII) decreased by 1%, impacted largely by the interest rate environment in Argentina, while non-interest revenue saw a significant uptick of 9%.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	19.86B	-1.39%	-1.40%
Gross Profit	19.86B	-1.39%	-1.40%
Operating Income	6.72B	-0.06%	-3.06%
Net Income	3.24B	-8.69%	0.65%
EPS	1.54	-6.10%	0.00%

Key Financial Ratios

currentRatio

0.05

grossProfitMargin

100%

operatingProfitMargin

33.8%

netProfitMargin

16.3%

returnOnAssets

0.13%

returnOnEquity

1.55%

debtEquityRatio

1.63

operatingCashFlowPerShare

$-8.78

freeCashFlowPerShare

$-9.6

dividendPayoutRatio

41.4%

priceToBookRatio

0.57

priceEarningsRatio

9.18

Net Income vs. Revenue

Expense Breakdown

Competitive Position

Company	Gross Margin	Operating Margin	Return on Equity	P/E Ratio
C Focus	1.00%	33.80%	1.55%	9.18%
JPM	1.00%	88.40%	3.73%	11.69%
WFC	1.06%	37.80%	2.79%	9.35%
TD	1.00%	37.80%	-0.16%	-196.82%
NU	46.30%	25.30%	7.24%	29.59%

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	41,460.00	1.99	+96.6%	View
Q4 2024	17,023.00	1.34	-9.6%	View
Q3 2024	19,862.00	1.51	-1.4%	View
Q2 2024	20,144.00	1.52	+3.6%	View
Q1 2024	21,094.00	1.58	+3.4%	View

Citigroup Inc (C) Q3 2024 Earnings Report

Earnings Highlights

Citigroup Inc (C) Q3 2024 Financial Results: Steady Progress Amid Macro Challenges

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

Citigroup Inc (C) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

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