Citizens Financial Group, Inc. (CFG)
Citizens Financial Group is a regional bank serving consumers and businesses in the Northeast and Midwest.
CFG vs NTRS: how the two businesses compare
- Similar size: CFG and NTRS each brought in about $8.2B of yearly revenue.
- More profitable: CFG keeps 22 cents of each sales dollar as profit, against 21 cents at NTRS.
- More cash from each sale: NTRS turns 68 cents of each sales dollar into operating cash flow, against 27 cents at CFG.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Citizens Financial (CFG) and Northern Trust (NTRS) reported similar revenue: $8.2B (fiscal year ended Dec 2025) versus $8.1B (fiscal year ended Dec 2025). CFG's net margin was 22.2% and NTRS's 21.5%. Both file with the SEC under the same industry code, SIC 6022 (State Commercial Banks).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Financials
- State Commercial Banks
- Same classification
- December 31
- Same calendar
- Feb 24, 2026
CFG vs NTRS: quick comparison
| Company fact | CFG | NTRS |
|---|---|---|
| Company | Citizens Financial Group, Inc. | Northern Trust Corporation |
| Exchange | NYSE | NASDAQ |
| SEC industry | State Commercial Banks | State Commercial Banks |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-12 | 10-K · 2026-02-24 |
CFG vs NTRS: audited financials
- Scale: revenue is roughly in line ($8.2B for CFG versus $8.1B for NTRS).
- Net margin: nearly identical at 22.2% (CFG) and 21.5% (NTRS).
- Cash flow: operating cash flow is left out of this reading because lending, deposit, and trading balances run through it at banks, brokers, and insurers, so it does not measure earnings quality the way it does for an operating company.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | CFG | NTRS |
|---|---|---|
| Revenue | $8.2B2025-01-01 to 2025-12-31 · SEC filing | $8.1B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $1.8B2025-01-01 to 2025-12-31 · SEC filing | $1.7B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $2.2B2025-01-01 to 2025-12-31 · SEC filing | $5.5B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $3.862025-01-01 to 2025-12-31 · SEC filing | $8.742025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 22.2%2025-01-01 to 2025-12-31 · SEC filing | 21.5%2025-01-01 to 2025-12-31 · SEC filing |
CFG: FY ending 2025-12-31 · NTRS: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where CFG and NTRS overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 6022, State Commercial Banks.
- Shared research theme: Rates & central banks.
- Same fiscal calendar: both fiscal years end December 31.
Differences
No differences in classification, themes, or calendar are recorded in the data; the differences sit in the businesses described below.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Northern Trust Corporation (NTRS)
Northern Trust provides wealth management, asset servicing, and custody for wealthy families and institutions.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves CFG
We have not yet published a company-specific driver list for CFG. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-12.
What moves NTRS
We have not yet published a company-specific driver list for NTRS. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-24.
The investment question
You now know how CFG and NTRS are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to rates & central banks, and which evidence in the next filings would prove that assumption wrong.
Members-only research
What members are reading this month
- NVIDIA’s growth has a financing bill
Sales up about 18% on the prior quarter, receivables up about 55%, supply commitments at $279 billion. What NVIDIA’s financing bill means for the price you pay.
- Citadel bought the AI fire sale. The seller had run out of time.
Up 439% in the first half, down about 67% in July: how an AI hedge fund ended up selling a roughly $16 billion stock book to Citadel at a discount.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 1 matched transaction row for CFG and 6 matched transaction rows for NTRS. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CFG primary filings
NTRS primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CFG or NTRS
CFG vs NTRS FAQs
Are CFG and NTRS direct competitors?
Citizens Financial and Northern Trust share the SEC industry classification “State Commercial Banks.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is CFG or NTRS the bigger company by revenue?
Citizens Financial (CFG) and Northern Trust (NTRS) reported similar revenue: $8.2B (fiscal year ended Dec 2025) versus $8.1B (fiscal year ended Dec 2025). CFG's net margin was 22.2% and NTRS's 21.5%. Both file with the SEC under the same industry code, SIC 6022 (State Commercial Banks). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, CFG or NTRS?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CFG vs NTRS comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Citizens Financial Group, Inc. and Northern Trust Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-10. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-10. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
CFG vs NTRS compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
Members-only research
$39/mo or $249/yr · cancel future renewals anytime · sources included