CFGCitizens Financial Group

Financials · Banks · NYSE

CFG and 9 peers, year by year

The 9 Financials companies closest to CFG in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
CFG Citizens Financial Group	FY2025	$8.2B	+6.7%	-	-	22.2%	-	7.0%	0.43
NDAQ Nasdaq, Inc.	FY2025	$8.3B	+11.6%	63.5%	28.2%	21.6%	24.1%	14.6%	0.74
BEN Franklin Resources	FY2026	$9.4B	+7.3%	-	12.5%	11.4%	8.7%	9.0%	0.22
NTRS Northern Trust	FY2025	$8.1B	+6.1%	-	-	21.5%	67.5%	13.4%	-
MCO Moody's Corporation	FY2025	$7.7B	+8.9%	-	43.4%	31.9%	33.4%	60.7%	1.73
KEY KeyCorp	FY2025	$7.5B	+6.5%	-	-	24.3%	28.0%	9.0%	0.49
MTB M&T Bank	FY2025	$9.7B	+7.5%	-	-	29.4%	-	9.8%	0.45
TROW T. Rowe Price	FY2025	$7.3B	+3.1%	-	29.9%	28.5%	20.2%	19.2%	-
RF Regions Financial Corporation	FY2025	$7.5B	+6.3%	-	0.7%	28.6%	-	11.3%	0.26
WTW Willis Towers Watson	FY2025	$9.7B	−2.3%	-	23.0%	16.5%	15.9%	20.1%	1.21

Revenuepeer median $8.1B

Sales growthpeer median +6.5%

Operating marginpeer median 25.6%

MCO 43.4%
TROW 29.9%
NDAQ 28.2%
WTW 23.0%
BEN 12.5%
RF 0.7%
CFG -
NTRS -
KEY -
MTB -

Net marginpeer median 24.3%

FCF marginpeer median 24.1%

NTRS 67.5%
MCO 33.4%
KEY 28.0%
NDAQ 24.1%
TROW 20.2%
WTW 15.9%
BEN 8.7%
CFG -
MTB -
RF -

Return on equitypeer median 13.4%

Debt / equitypeer median 0.49

MCO 1.73
WTW 1.21
NDAQ 0.74
KEY 0.49
MTB 0.45
CFG 0.43
RF 0.26
BEN 0.22
NTRS -
TROW -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	$5.3B	$5.7B	$6.1B	$6.5B	$6.9B	$6.6B	$8.0B	$8.2B	$7.8B	$8.2B
NDAQ Dec	$3.7B	$3.9B	$4.3B	$4.3B	$5.6B	$5.9B	$6.2B	$6.1B	$7.4B	$8.3B
BEN Sep	$6.6B	$6.4B	$6.3B	$5.8B	$5.6B	$8.4B	$8.3B	$7.8B	$8.5B	$8.8B
NTRS Dec	$5.0B	$5.4B	$6.0B	$6.1B	$6.1B	$6.5B	$6.8B	$6.8B	$8.3B	$8.1B
MCO Dec	$3.6B	$4.2B	$4.4B	$4.8B	$5.4B	$6.2B	$5.5B	$5.9B	$7.1B	$7.7B
KEY Dec	$5.0B	$6.3B	$6.5B	$6.4B	$6.7B	$7.3B	$7.3B	$6.4B	$4.6B	$7.5B
MTB Dec	$5.3B	$5.6B	$5.9B	$6.2B	$6.0B	$6.0B	$8.2B	$9.6B	$9.3B	$9.7B
TROW Dec	$4.3B	$4.9B	$5.4B	$5.6B	$6.2B	$7.7B	$6.5B	$6.5B	$7.1B	$7.3B
RF Dec	$5.4B	$5.5B	$5.8B	$5.9B	$6.3B	$6.4B	$7.2B	$7.6B	$7.1B	$7.5B
WTW Dec	$7.9B	$8.2B	$8.5B	$8.4B	$8.6B	$9.5B	-	-	$9.9B	$9.7B
Peer median	$5.0B	$5.5B	$5.9B	$5.9B	$6.1B	$6.5B	$7.0B	$6.6B	$7.4B	$8.1B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	+8.9%	+8.6%	+7.4%	+5.9%	−7.8%	+22.7%	−2.0%	−2.5%	+21.1%	+6.7%
NDAQ Dec	+8.9%	+6.6%	+8.3%	−0.4%	+32.1%	+4.6%	+5.8%	−2.6%	+22.0%	+11.6%
BEN Sep	-	−3.4%	−1.1%	−8.6%	−1.8%	+51.4%	−1.8%	−5.1%	+8.0%	+3.5%
NTRS Dec	+5.5%	+8.3%	+9.3%	+2.6%	+3.7%	+9.2%	+1.6%	−1.6%	+8.4%	+6.1%
MCO Dec	+3.4%	+16.6%	+5.7%	+8.7%	+11.2%	+15.8%	−12.1%	+8.2%	+19.8%	+8.9%
KEY Dec	+18.0%	+25.6%	+2.3%	−0.9%	+4.9%	+8.6%	−0.3%	−10.0%	+14.5%	+6.5%
MTB Dec	+13.5%	+6.4%	+5.3%	+4.4%	−3.8%	+0.6%	+36.5%	−2.7%	+3.8%	+7.5%
TROW Dec	+2.0%	+13.3%	+10.7%	+4.6%	+10.5%	+23.6%	−15.4%	−0.4%	+9.8%	+3.1%
RF Dec	+0.6%	+3.4%	+18.3%	+11.3%	+6.3%	+23.8%	+12.1%	+5.0%	−6.5%	+6.3%
WTW Dec	+106%	+4.0%	+3.8%	+6.3%	+3.2%	+6.6%	-	-	+4.7%	−2.3%
Peer median	+7.2%	+6.6%	+5.7%	+4.4%	+4.9%	+9.2%	+0.7%	−2.1%	+8.4%	+6.3%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	-	-	-	-	-	-	-	-	-	-
NDAQ Dec	61.4%	61.1%	59.1%	59.5%	51.6%	58.1%	57.5%	64.2%	62.8%	63.5%
BEN Sep	-	-	-	-	-	-	-	-	-	-
NTRS Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	-	-	-	-	-	-	-	-	-	-
KEY Dec	-	-	-	-	-	-	-	-	-	-
MTB Dec	-	-	-	-	-	-	-	-	-	-
TROW Dec	-	-	-	-	-	-	-	-	-	-
RF Dec	-	-	-	-	-	-	-	-	-	-
WTW Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	-	-	-	-	-	-	-	-	-	-
NDAQ Dec	22.6%	25.1%	24.0%	23.9%	21.9%	24.5%	25.1%	26.0%	24.3%	28.2%
BEN Sep	35.7%	35.4%	32.1%	25.4%	18.8%	22.3%	21.4%	14.0%	4.8%	6.9%
NTRS Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	18.1%	43.3%	42.0%	41.4%	44.5%	45.7%	34.4%	36.1%	40.6%	43.4%
KEY Dec	-	-	-	-	-	-	-	-	-	-
MTB Dec	-	-	-	-	-	-	-	-	-	-
TROW Dec	40.5%	43.4%	44.0%	42.5%	44.2%	48.4%	36.6%	30.7%	32.9%	29.9%
RF Dec	-	-	-	-	-	0.7%	0.8%	2.8%	1.3%	0.7%
WTW Dec	4.4%	6.3%	9.5%	12.6%	10.0%	14.4%	-	-	6.3%	23.0%
Peer median	22.6%	35.4%	32.1%	25.4%	21.9%	23.4%	25.1%	26.0%	15.3%	25.6%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	19.9%	28.9%	28.1%	27.6%	15.3%	34.9%	25.8%	19.6%	19.3%	22.2%
NDAQ Dec	2.9%	18.5%	10.7%	18.2%	16.6%	20.2%	18.1%	17.5%	15.1%	21.6%
BEN Sep	26.1%	26.5%	12.1%	20.7%	14.4%	21.7%	15.6%	11.2%	5.5%	6.0%
NTRS Dec	20.8%	22.3%	26.1%	24.6%	19.8%	23.9%	19.8%	16.3%	24.5%	21.5%
MCO Dec	7.4%	23.8%	29.5%	29.4%	33.1%	35.6%	25.1%	27.2%	29.0%	31.9%
KEY Dec	15.7%	20.5%	28.9%	26.8%	20.0%	36.0%	26.4%	15.1%	−3.5%	24.3%
MTB Dec	24.8%	25.0%	32.4%	31.2%	22.7%	31.0%	24.4%	28.4%	27.9%	29.4%
TROW Dec	28.4%	30.9%	34.2%	37.9%	38.2%	40.2%	24.0%	27.7%	29.6%	28.5%
RF Dec	21.5%	23.0%	30.6%	27.0%	17.4%	39.2%	31.1%	27.4%	26.7%	28.6%
WTW Dec	5.3%	6.9%	8.2%	12.5%	11.6%	11.1%	-	-	−1.0%	16.5%
Peer median	20.8%	23.0%	28.9%	26.8%	19.8%	31.0%	24.2%	22.3%	24.5%	24.3%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	$1.4B	$1.6B	$1.5B	$1.6B	-	-	-	-	-	-
NDAQ Dec	$642.0M	$765.0M	$917.0M	$836.0M	$1.1B	$920.0M	$1.6B	$1.5B	$1.7B	$2.0B
BEN Sep	$1.6B	$1.1B	$2.1B	$34.8M	$979.6M	$1.2B	$1.9B	$940.4M	$794.2M	$911.6M
NTRS Dec	$1.4B	$1.6B	$1.7B	$2.4B	$1.8B	$1.3B	$2.3B	$2.5B	−$587.5M	$5.5B
MCO Dec	$1.1B	$664.0M	$1.4B	$1.6B	$2.0B	$1.9B	$1.2B	$1.9B	$2.5B	$2.6B
KEY Dec	$1.5B	$1.7B	$2.4B	$2.8B	$1.6B	$1.1B	$4.4B	$2.8B	$599.0M	$2.1B
MTB Dec	$1.1B	$2.7B	$2.0B	$2.2B	$617.2M	$2.6B	$4.4B	$3.6B	-	-
TROW Dec	$22.2M	$43.4M	$1.5B	$1.3B	$1.7B	$3.2B	$2.1B	$911.2M	$1.3B	$1.5B
RF Dec	-	-	-	-	-	-	-	-	-	-
WTW Dec	$715.0M	$562.0M	$1.0B	-	-	$1.1B	-	-	$1.3B	$1.5B
Peer median	$1.1B	$912.8M	$1.6B	$1.6B	$1.6B	$1.2B	$2.1B	$1.9B	$1.3B	$2.0B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	25.7%	28.6%	25.0%	24.2%	-	-	-	-	-	-
NDAQ Dec	17.3%	19.4%	21.4%	19.6%	18.9%	15.6%	25.0%	25.4%	23.4%	24.1%
BEN Sep	24.6%	16.6%	33.6%	0.6%	17.6%	13.8%	22.6%	12.0%	9.4%	10.4%
NTRS Dec	28.2%	30.3%	28.0%	40.1%	28.9%	19.5%	33.5%	37.0%	−7.1%	67.5%
MCO Dec	31.7%	15.8%	30.8%	33.3%	38.0%	30.0%	21.8%	31.8%	35.6%	33.4%
KEY Dec	30.7%	27.0%	37.3%	44.1%	24.0%	14.9%	60.1%	43.1%	13.0%	28.0%
MTB Dec	20.3%	48.0%	33.6%	35.2%	10.4%	42.8%	53.3%	37.8%	-	-
TROW Dec	0.5%	0.9%	27.0%	23.5%	27.5%	41.9%	32.7%	14.1%	17.8%	20.2%
RF Dec	-	-	-	-	-	-	-	-	-	-
WTW Dec	9.1%	6.9%	12.0%	-	-	11.6%	-	-	12.8%	15.9%
Peer median	22.5%	18.0%	29.4%	33.3%	24.0%	17.6%	32.7%	31.8%	13.0%	24.1%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	5.3%	8.1%	8.3%	8.1%	4.7%	9.9%	8.8%	6.6%	6.2%	7.0%
NDAQ Dec	2.0%	12.4%	8.4%	13.7%	14.5%	18.6%	18.3%	9.8%	10.0%	14.6%
BEN Sep	14.5%	13.4%	7.7%	12.1%	7.9%	16.3%	11.3%	7.4%	3.7%	4.3%
NTRS Dec	10.6%	11.7%	14.8%	13.5%	10.3%	12.9%	11.9%	9.3%	15.9%	13.4%
MCO Dec	n/m	n/m	n/m	n/m	113.3%	81.2%	54.5%	48.4%	57.7%	60.7%
KEY Dec	5.2%	8.6%	12.0%	10.1%	7.5%	15.1%	14.2%	6.6%	−0.9%	9.0%
MTB Dec	8.0%	8.7%	12.4%	12.3%	8.4%	10.4%	7.9%	10.2%	8.9%	9.8%
TROW Dec	24.3%	25.7%	30.0%	30.0%	30.8%	34.2%	17.6%	18.8%	20.3%	19.2%
RF Dec	7.0%	7.8%	11.7%	9.7%	6.0%	13.8%	14.1%	11.9%	10.6%	11.3%
WTW Dec	4.2%	5.6%	7.1%	10.2%	9.2%	11.1%	-	-	−1.2%	20.1%
Peer median	7.5%	10.2%	11.8%	12.2%	9.2%	15.1%	14.2%	10.0%	10.0%	13.4%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	0.87	0.71	0.83	0.65	0.38	0.30	0.67	0.57	0.51	0.43
NDAQ Dec	0.66	0.72	0.70	0.60	0.86	0.91	0.88	0.97	0.85	0.74
BEN Sep	0.12	0.08	0.07	0.07	0.30	0.30	0.29	0.26	0.22	0.20
NTRS Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	n/m	n/m	12.37	9.12	4.09	2.72	2.93	2.11	2.08	1.73
KEY Dec	0.81	0.95	0.88	0.73	0.76	0.69	1.44	1.34	0.67	0.49
MTB Dec	0.59	0.51	0.83	0.45	0.27	0.20	0.30	0.50	0.47	0.45
TROW Dec	-	-	-	-	-	-	-	-	-	-
RF Dec	0.47	0.53	0.93	0.61	0.20	0.13	0.14	0.13	0.36	0.26
WTW Dec	0.54	0.57	0.65	0.78	0.73	0.78	-	-	1.08	1.21
Peer median	0.56	0.55	0.83	0.61	0.73	0.69	0.59	0.73	0.67	0.49

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CFG Dec	$1.97	$3.25	$3.52	$3.81	$2.22	$5.16	$4.10	$3.13	$3.03	$3.86
NDAQ Dec	$0.21	$1.43	$0.91	$1.54	$1.86	$2.35	$2.26	$2.08	$1.93	$3.09
BEN Sep	$2.94	$3.01	$1.39	$2.35	$1.59	$3.57	$2.53	$1.72	$0.85	$0.91
NTRS Dec	$4.32	$4.92	$6.64	$6.63	$5.46	$7.14	$6.14	$5.08	$9.77	$8.74
MCO Dec	$1.36	$5.15	$6.74	$7.42	$9.39	$11.78	$7.44	$8.73	$11.26	$13.67
KEY Dec	$0.80	$1.13	$1.71	$1.62	$1.27	$2.63	$1.93	$0.88	−$0.32	$1.52
MTB Dec	$7.78	$8.70	$12.74	$13.75	$9.94	$13.80	$11.53	$15.79	$14.64	$17.00
TROW Dec	$4.75	$5.97	$7.27	$8.70	$9.98	$13.12	$6.70	$7.76	$9.15	$9.24
RF Dec	$0.87	$1.00	$1.54	$1.50	$1.03	$2.49	$2.28	$2.11	$1.93	$2.30
WTW Dec	$3.04	$4.18	$5.27	$8.02	$7.65	$9.95	-	-	−$0.96	$16.26
Peer median	$2.94	$4.18	$5.27	$6.63	$5.46	$7.14	$4.33	$3.59	$1.93	$8.74

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out CFG and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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