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Citizens Financial Group (CFG) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Citizens Financial Group (CFG) Q3 2026 earnings results →

Q3 2026 Revenue up 10% year over year to $2.3B · 27¢ of every $1 of revenue kept as net profit · operating margin 34.6%

Citizens Financial Group made $2.3B in Q3 2026 (+10% Y/Y). Operating margin 34.6%, net earnings $636M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$2.3B
Year over year+10%
Operating margin34.6%
Net earnings$636M
Operating cash flow$453M

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Citizens Financial Group Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Citizens Financial Group Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.3B in Q3 2026, up 10% year over year and up 2% from the previous quarter.

Operating profit was $0.80B, a 34.6% margin (up 4.9 points year over year). Of the extra revenue versus Q3 2025, 86% reached operating profit, above the 30% margin then. Total costs grew 2% against revenue growth of 10%. Net earnings were $0.64B, up 29% year over year. The effective tax rate was 20.9%.

Operating cash flow was $0.45B (down 73% year over year), 71% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.31B.

Quarterly history

Citizens Financial Group revenue by quarterCitizens Financial Group revenue by quarter$1.9BQ1 2025$2.0BQ2 2025$2.1BQ3 2025$2.2BQ4 2025$2.2BQ1 2026$2.3BQ2 2026$2.3BQ3 2026
Citizens Financial Group net earnings by quarterCitizens Financial Group net earnings by quarter$373MQ1 2025$436MQ2 2025$494MQ3 2025$528MQ4 2025$517MQ1 2026$587MQ2 2026$636MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$2.3B+10%34.6%$636M$453M
Q2 202610-QAug 3, 2026$2.3B+12%33.1%$587M$726M
Q1 202610-QMay 4, 2026$2.2B+12%30.0%$517M$237M
Q4 202510-KFeb 12, 2026$2.2B+9%31.4%$528M−$158M
Q3 202510-QNov 3, 2025$2.1B+11%29.7%$494M$1.7B
Q2 202510-QAug 4, 2025$2.0B+4%27.2%$436M$886M
Q1 202510-QMay 1, 2025$1.9B-1%24.2%$373M−$213M

Charts

Citizens Financial Group: revenue growth, year over year and quarter over quarterCitizens Financial Group: revenue growth, year over year and quarter over quarterY/YQ/Q-1%Q1 2025+4%+5%Q2 2025+11%+4%Q3 2025+9%+2%Q4 2025+12%+1%Q1 2026+12%+5%Q2 2026+10%+2%Q3 2026
Latest (Q3 2026): Y/Y +10%, Q/Q +2%.
Citizens Financial Group: where the cash came from (+) and went (−), TTM to Q3 2026Citizens Financial Group: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$10.6BNet borrowing (+) / repaid (−)$7.2BOther financing$5.0BCash drawn (+) / kept (−)−$1.3BOperating cash flow$1.3BDividends−$793MBuybacks−$775M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Citizens Financial Group: profit against cash, quarter by quarterCitizens Financial Group: profit against cash, quarter by quarterNet incomeOperating cash flow$401M$483MQ4 2024$373M−$213MQ1 2025$436M$886MQ2 2025$494M$1.7BQ3 2025$528M−$158MQ4 2025$517M$237MQ1 2026$587M$726MQ2 2026$636M$453MQ3 2026
Latest (Q3 2026): Net income $636M, Operating cash flow $453M.
Citizens Financial Group: diluted shares by fiscal yearCitizens Financial Group: diluted shares by fiscal year428MFY2020427MFY2021478MFY2022477MFY2023454MFY2024437MFY2025
+2.0% since FY2020: more shares outstanding (issuance, stock pay).
Citizens Financial Group: long-term debt falling due (FY2025)Citizens Financial Group: long-term debt falling due (FY2025)$500M2026$2.0B2027$2.0B2028$6.0M2029$2.6B2030$4.1BLater
Cash $12.7B, short-term investments —, long-term debt $11.2B at 2025-12-31.
Citizens Financial Group in its industry: growth against margin (133 companies, SIC 6022)Citizens Financial Group in its industry: growth against margin (133 companies, SIC 6022)revenue growth, year over year →↑ operating marginmedian +9%median 40%BNYSTTFITBMTBFCNCAALLYNTRSWALBPOPEWBCWTFCCOLBSSBCBSHASBHWCAUBGBCIUBSIABCBHTHHOMBUCBRNSTFBPCATYFIBKCUBIFHBIBOCMBINSBCFBOHCVBFBUSEEFSCOFGLOBFBKFFINSFBSMCHBCCBFBNCGABCBYSYBTPEBOTCBKOBKSTBAFMBHRBCAACNOBAMALMCBQCRHOSBCFMNBBFSTUVSPTMPCCNEMSBIHBTEQBKCTBICPFTHFFMPBSBSIMBWMLKFNIBCPEGBNSPFIWASHCCBGCOFSCWBCHBIAACNBGSBCFSBCTRSTCIVBFCBCMCBSFBIZINBKBWBCBANMVBFBSRRCZNCCFFIRBBISTRUNTYBWFGBMRCRRBIPCBFCBMCHMGCZFSNWFLWTBAMYFWAVBHOPBKUSCBFCCOEBMTCOSOFXNCPKBKISBAPEBKBPRNBRBSHNVRMNSBFVCBCCFNSBFGJMSBBOTJNWPPFUSBAUBNJUVFCFG (+10%, 35%)
State Commercial Banks; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Citizens Financial Group

Citizens Financial Group, Inc. is headquartered in Providence, Rhode Island. We offer a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions. Our products and services are offered through more than 1,000 branches in 14 states and the District of Columbia and 75 retail and commercial non-branch offices, though certain lines of business serve national markets. At December 31, 2025, we had total assets of $226.4 billion, total deposits of $183.3 billion, and total stockholders’ equity of $26.3 billion.

In its own words, from its 10-K, filed Feb 12, 2026.

Citizens Financial Group against its State Commercial Banks peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: 34.6% against the peers' median 34.6%.

CompanyQuarterRevenueY/YOp. margin
CFG Citizens Financial GroupQ3 2026$2.3B+10%34.6%
BNY Bank of New York MellonQ3 2026$5.7B+12%38.5%
STT State StreetQ3 2026$4.0B+13%34.7%
FITB Fifth Third BancorpQ3 2026$3.3B+42%33.8%
MTB M&T BankQ3 2026$2.5B+0.9%39.7%
FCNCA First Citizens BancsharesQ3 2026$2.4B0%33.1%
ALLY Ally FinancialQ3 2026$2.3B+8%24.3%
NTRS Northern TrustQ3 2026$2.3B+13%34.7%
WAL Western Alliance BancorporationQ3 2026$1.0B+8%33.4%

Source: Citizens Financial Group 10-Q on SEC EDGAR · CIK 759944 · State Commercial Banks

13F: who owns CFG and who is buying

Largest holders of CFG (13F)Largest holders of CFG (13F)BlackRock$3.4BVanguard Group$3.0BVanguard Capital Management LLC$1.9BCapital World Investors$1.6BInvesco$1.6BState Street$1.5BVanguard Portfolio Management LLC$1.4BMorgan Stanley$859MGeode Capital Management, LLC$825MAQR Capital Management LLC$534M
Funds' net buying of CFG by quarter (13F)Funds' net buying of CFG by quarter (13F)−$822M2024-09−$75.9M2024-12−$113M2025-03$218M2025-06−$235M2025-09$7.9M2025-12−$615M2026-03$316M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CFG

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Citizens Financial Group（CFG）财报

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