>
Switch to:

Citigroup Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 1986. Start your Free Trial

Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Citigroup has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

NYSE:C' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 7

1
9

During the past 13 years, the highest Piotroski F-Score of Citigroup was 9. The lowest was 1. And the median was 5.


Citigroup Piotroski F-Score Historical Data

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Citigroup Annual Data
Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 1.00 7.00 4.00 3.00

Citigroup Quarterly Data
Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 4.00 4.00 3.00 7.00

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.


Citigroup Piotroski F-Score Distribution

* The bar in red indicates where Citigroup's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar21) TTM:Last Year (Mar20) TTM:
Net Income was 1316 + 3230 + 3979 + 7942 = USD16,467 Mil.
Cash Flow from Operations was 6325 + -3046 + 1633 + 23198 = USD28,110 Mil.
Revenue was 20005 + 17693 + 16846 + 19338 = USD73,882 Mil.
Average Total Assets from the begining of this year (Mar20)
to the end of this year (Mar21) was
(2219770 + 2232715 + 2234459 + 2260090 + 2314266) / 5 = USD2252260 Mil.
Total Assets at the begining of this year (Mar20) was USD2,219,770 Mil.
Long-Term Debt & Capital Lease Obligation was USD256,335 Mil.
Total Assets was USD2,314,266 Mil.
Total Liabilities was USD2,110,993 Mil.
Net Income was 4799 + 4913 + 4979 + 2536 = USD17,227 Mil.

Revenue was 18947 + 18775 + 18578 + 20999 = USD77,299 Mil.
Average Total Assets from the begining of last year (Mar19)
to the end of last year (Mar20) was
(1958413 + 1988226 + 2014802 + 1951158 + 2219770) / 5 = USD2026473.8 Mil.
Total Assets at the begining of last year (Mar19) was USD1,958,413 Mil.
Long-Term Debt & Capital Lease Obligation was USD266,098 Mil.
Total Assets was USD2,219,770 Mil.
Total Liabilities was USD2,026,788 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Citigroup's current Net Income (TTM) was 16,467. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Citigroup's current Cash Flow from Operations (TTM) was 28,110. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar20)
=16467/2219770
=0.00741834

ROA (Last Year)=Net Income/Total Assets (Mar19)
=17227/1958413
=0.00879641

Citigroup's return on assets of this year was 0.00741834. Citigroup's return on assets of last year was 0.00879641. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Citigroup's current Net Income (TTM) was 16,467. Citigroup's current Cash Flow from Operations (TTM) was 28,110. ==> 28,110 > 16,467 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=256335/2252260
=0.11381235

Gearing (Last Year: Mar20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar19 to Mar20
=266098/2026473.8
=0.13131085

Citigroup's gearing of this year was 0.11381235. Citigroup's gearing of last year was 0.13131085. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Mar21)=Total Assets/Total Liabilities
=2314266/2110993
=1.0962926

Current Ratio (Last Year: Mar20)=Total Assets/Total Liabilities
=2219770/2026788
=1.09521568

Citigroup's current ratio of this year was 1.0962926. Citigroup's current ratio of last year was 1.09521568. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Citigroup's number of shares in issue this year was 2096.6. Citigroup's number of shares in issue last year was 2113.7. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=16467/73882
=0.22288243

Net Margin (Last Year: TTM)=Net Income/Revenue
=17227/77299
=0.22286187

Citigroup's net margin of this year was 0.22288243. Citigroup's net margin of last year was 0.22286187. ==> This year's net margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar20)
=73882/2219770
=0.03328363

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar19)
=77299/1958413
=0.03947022

Citigroup's asset turnover of this year was 0.03328363. Citigroup's asset turnover of last year was 0.03947022. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Citigroup has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Citigroup  (NYSE:C) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Citigroup Piotroski F-Score Related Terms


Citigroup Piotroski F-Score Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)