Citizens Financial Services (CZFS) Financials

$55.60 +0.29 (+0.52%)

Closing price 10/24/2025 04:00 PM Eastern

Extended Trading

$55.23 -0.37 (-0.67%)

As of 10/24/2025 04:10 PM Eastern

Annual Income Statements for Citizens Financial Services

This table shows Citizens Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	29	18	28
Consolidated Net Income / (Loss)	29	18	28
Net Income / (Loss) Continuing Operations	29	18	28
Total Pre-Tax Income	35	22	34
Total Revenue	82	92	102
Net Interest Income / (Expense)	72	80	86
Total Interest Income	83	127	154
Loans and Leases Interest Income	74	116	143
Investment Securities Interest Income	8.69	10	11
Deposits and Money Market Investments Interest Income	0.40	0.74	0.85
Total Interest Expense	11	47	68
Deposits Interest Expense	7.32	32	52
Long-Term Debt Interest Expense	3.91	15	16
Total Non-Interest Income	9.74	12	15
Trust Fees by Commissions	0.80	0.76	0.82
Service Charges on Deposit Accounts	5.35	5.64	5.75
Other Service Charges	0.85	0.77	1.21
Net Realized & Unrealized Capital Gains on Investments	-0.00	1.26	3.42
Investment Banking Income	1.90	1.92	2.38
Other Non-Interest Income	0.85	1.25	1.68
Provision for Credit Losses	1.68	5.53	2.59
Total Non-Interest Expense	45	65	66
Salaries and Employee Benefits	28	35	39
Net Occupancy & Equipment Expense	3.70	4.95	6.05
Property & Liability Insurance Claims	0.68	1.48	2.00
Other Operating Expenses	12	14	18
Amortization Expense	0.16	0.37	0.56
Restructuring Charge	0.29	9.27	0.00
Other Special Charges	-	-	-0.15
Income Tax Expense	6.44	3.70	5.87
Basic Earnings per Share	$7.17	$4.02	$5.86
Weighted Average Basic Shares Outstanding	4.06M	4.43M	4.75M
Diluted Earnings per Share	$7.17	$4.02	$5.85
Weighted Average Diluted Shares Outstanding	4.06M	4.43M	4.76M
Weighted Average Basic & Diluted Shares Outstanding	3.97M	4.71M	4.76M
Cash Dividends to Common per Share	$1.86	$1.92	$1.95

This table shows Citizens Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	7.54	7.88	6.87	-4.14	7.55	7.54	7.02	5.28	7.54	7.98
Consolidated Net Income / (Loss)	7.54	7.88	6.87	-4.14	7.55	7.54	7.02	5.28	7.54	7.98
Net Income / (Loss) Continuing Operations	7.54	7.88	6.87	-4.14	7.55	7.54	7.02	5.28	7.54	7.98
Total Pre-Tax Income	9.20	9.70	8.48	-5.33	9.15	9.22	8.50	6.39	9.25	9.54
Total Revenue	22	22	20	20	26	25	26	25	25	26
Net Interest Income / (Expense)	19	19	18	18	22	22	21	21	21	23
Total Interest Income	22	24	25	27	37	39	38	38	39	40
Loans and Leases Interest Income	19	22	23	24	34	36	35	35	36	37
Investment Securities Interest Income	2.33	2.46	2.49	2.57	2.65	2.60	2.56	2.57	2.64	3.01
Deposits and Money Market Investments Interest Income	0.06	0.07	0.07	0.13	0.26	0.27	0.24	0.26	0.19	0.16
Total Interest Expense	2.94	5.06	7.03	8.89	14	17	17	17	17	17
Deposits Interest Expense	1.84	2.85	3.94	5.48	10	12	12	13	13	14
Long-Term Debt Interest Expense	1.10	2.21	3.09	3.41	4.19	4.48	4.65	3.95	3.89	3.05
Total Non-Interest Income	2.69	2.31	2.17	2.28	3.66	3.49	4.97	3.34	3.76	3.34
Trust Fees by Commissions	0.19	0.18	0.23	0.18	0.17	0.18	0.24	0.20	0.18	0.19
Service Charges on Deposit Accounts	1.51	1.27	1.21	1.29	1.69	1.44	1.37	1.39	1.64	1.36
Other Service Charges	0.26	0.22	0.17	0.09	0.31	0.20	0.45	0.47	0.14	0.15
Net Realized & Unrealized Capital Gains on Investments	0.09	-0.06	-0.17	0.04	0.53	0.86	1.57	0.39	0.91	0.54
Investment Banking Income	0.45	0.47	0.51	0.44	0.47	0.50	0.67	0.56	0.55	0.61
Other Non-Interest Income	0.22	0.22	0.22	0.23	0.49	0.31	0.67	0.33	0.34	0.35
Total Non-Interest Expense	12	12	12	21	16	16	17	16	16	17
Salaries and Employee Benefits	6.93	6.87	7.68	7.92	10	9.39	10	9.62	9.72	9.73
Net Occupancy & Equipment Expense	0.90	0.96	0.99	0.98	1.48	1.51	1.56	1.56	1.48	1.46
Property & Liability Insurance Claims	0.16	0.24	0.30	0.33	0.38	0.48	0.53	0.51	0.56	0.41
Other Operating Expenses	3.58	3.25	2.54	3.03	3.81	4.39	4.12	4.41	4.15	4.95
Amortization Expense	0.04	0.04	0.03	0.03	0.16	0.15	0.15	0.15	0.14	0.13
Income Tax Expense	1.66	1.83	1.61	-1.19	1.60	1.68	1.48	1.11	1.71	1.56
Basic Earnings per Share	$1.88	$1.88	$1.71	($1.00)	$1.59	$1.72	$1.49	$1.11	$1.59	$1.67
Weighted Average Basic Shares Outstanding	4.01M	4.06M	4.01M	4.16M	4.75M	4.43M	4.70M	4.75M	4.75M	4.75M
Diluted Earnings per Share	$1.88	$1.88	$1.71	($1.00)	$1.59	$1.72	$1.49	$1.11	$1.59	$1.66
Weighted Average Diluted Shares Outstanding	4.01M	4.06M	4.01M	4.16M	4.75M	4.43M	4.70M	4.75M	4.75M	4.76M
Weighted Average Basic & Diluted Shares Outstanding	3.97M	3.97M	3.97M	4.70M	4.71M	4.71M	4.71M	4.76M	4.76M	4.76M
Cash Dividends to Common per Share	$0.48	$0.45	$0.48	$0.48	$0.49	$0.48	$0.49	$0.49	$0.49	$0.49

This table details how cash moves in and out of Citizens Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-147	27	-11
Net Cash From Operating Activities	33	27	33
Net Cash From Continuing Operating Activities	33	27	33
Net Income / (Loss) Continuing Operations	29	18	28
Consolidated Net Income / (Loss)	29	18	28
Provision For Loan Losses	1.68	5.53	2.59
Depreciation Expense	1.03	1.52	1.81
Amortization Expense	-0.06	-1.54	-1.81
Non-Cash Adjustments to Reconcile Net Income	3.10	2.52	1.65
Changes in Operating Assets and Liabilities, net	-1.58	0.70	1.13
Net Cash From Investing Activities	-362	59	-69
Net Cash From Continuing Investing Activities	-362	59	-69
Purchase of Investment Securities	-420	-81	-170
Sale and/or Maturity of Investments	59	142	101
Other Investing Activities, net	-1.12	-1.47	0.00
Net Cash From Financing Activities	183	-59	25
Net Cash From Continuing Financing Activities	183	-59	25
Net Change in Deposits	8.06	-56	61
Issuance of Debt	0.00	40	0.00
Issuance of Common Equity	0.11	0.03	0.02
Repayment of Debt	183	-35	-26
Repurchase of Common Equity	-1.28	-0.27	-0.27
Payment of Dividends	-7.59	-8.50	-9.30
Cash Interest Paid	11	45	67
Cash Income Taxes Paid	6.60	5.10	2.50

This table details how cash moves in and out of Citizens Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	2.48	3.06	-0.04	19	-1.37	9.48	-23	8.81	-1.67	5.44
Net Cash From Operating Activities	9.27	8.90	10	-7.51	7.43	16	13	3.02	6.22	10
Net Cash From Continuing Operating Activities	9.27	8.90	10	-7.51	7.43	16	13	3.02	6.22	10
Net Income / (Loss) Continuing Operations	7.54	7.88	6.87	-4.14	7.55	7.54	7.02	5.28	7.54	7.98
Consolidated Net Income / (Loss)	7.54	7.88	6.87	-4.14	7.55	7.54	7.02	5.28	7.54	7.98
Depreciation Expense	0.25	0.26	0.26	0.27	0.49	0.50	0.50	0.46	0.42	0.43
Amortization Expense	0.12	-0.14	-0.10	0.10	-1.20	-0.34	-0.59	-0.89	-0.56	0.23
Non-Cash Adjustments to Reconcile Net Income	0.93	1.13	2.68	-8.30	0.68	7.46	5.47	-5.00	-1.02	2.20
Changes in Operating Assets and Liabilities, net	-0.31	-0.48	0.69	-0.28	-0.57	0.86	0.27	1.17	0.05	-0.36
Net Cash From Investing Activities	-143	22	5.22	123	-73	3.68	23	-13	-79	-0.18
Net Cash From Continuing Investing Activities	-143	22	5.22	123	-73	3.68	23	-13	-79	-0.18
Purchase of Investment Securities	-160	10	-6.11	26	-92	-9.22	-16	-26	-103	-25
Sale and/or Maturity of Investments	17	12	11	98	19	14	39	13	24	24
Net Cash From Financing Activities	137	-28	-16	-97	64	-10	-60	19	71	-4.87
Net Cash From Continuing Financing Activities	137	-28	-16	-97	64	-10	-60	19	71	-4.87
Net Change in Deposits	-10	-25	-45	-67	69	-14	-19	-30	177	-68
Issuance of Common Equity	0.04	-	-	-	-	0.01	-	-	-	0.02
Repayment of Debt	148	-1.65	31	-49	-2.38	-14	-39	51	-103	66
Repurchase of Common Equity	-	-	0.00	-	-0.26	-0.00	-0.05	-0.04	-0.12	-0.06
Payment of Dividends	-1.91	-1.91	-1.93	-1.97	-2.31	-2.31	-2.31	-2.33	-2.33	-2.33
Cash Interest Paid	2.58	4.75	6.49	8.40	14	16	17	15	17	18
Cash Income Taxes Paid	1.00	2.00	0.00	3.60	1.00	0.50	0.00	0.75	0.75	1.00

This table presents Citizens Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,333	2,975	3,026
Cash and Due from Banks	25	38	30
Interest Bearing Deposits at Other Banks	1.40	15	12
Time Deposits Placed and Other Short-Term Investments	6.06	4.07	3.82
Trading Account Securities	458	433	438
Loans and Leases, Net of Allowance	0.00	0.00	0.00
Loans Held for Sale	0.73	9.38	9.61
Premises and Equipment, Net	18	21	21
Goodwill	31	86	86
Intangible Assets	1.27	3.65	2.89
Other Assets	1,792	2,365	2,422
Total Liabilities & Shareholders' Equity	2,333	2,975	3,026
Total Liabilities	2,133	2,696	2,726
Non-Interest Bearing Deposits	396	524	533
Interest Bearing Deposits	1,448	1,798	1,849
Accrued Interest Payable	1.23	4.30	4.69
Long-Term Debt	257	322	298
Other Long-Term Liabilities	31	48	42
Total Equity & Noncontrolling Interests	200	280	300
Total Preferred & Common Equity	200	280	300
Preferred Stock	0.00	0.00	0.00
Total Common Equity	200	280	300
Common Stock	85	148	150
Retained Earnings	165	173	189
Treasury Stock	-17	-17	-16
Accumulated Other Comprehensive Income / (Loss)	-33	-25	-24

This table presents Citizens Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	2,350	2,335	2,892	2,959	2,921	2,948	3,026
Cash and Due from Banks	22	24	29	25	14	22	27
Interest Bearing Deposits at Other Banks	1.63	1.92	16	18	16	16	9.98
Time Deposits Placed and Other Short-Term Investments	6.06	6.06	4.81	4.57	3.82	3.82	3.82
Trading Account Securities	465	460	453	438	421	417	430
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Loans Held for Sale	1,721	0.67	15	14	8.35	14	14
Premises and Equipment, Net	17	18	21	21	21	21	21
Goodwill	31	31	85	85	86	86	86
Intangible Assets	1.37	1.18	4.07	3.87	3.45	3.24	3.08
Other Assets	84	1,793	2,265	2,349	2,348	2,364	2,432
Total Liabilities & Shareholders' Equity	2,350	2,335	2,892	2,959	2,921	2,948	3,026
Total Liabilities	2,158	2,122	2,629	2,697	2,638	2,661	2,728
Non-Interest Bearing Deposits	381	370	553	542	524	502	548
Interest Bearing Deposits	1,487	1,430	1,713	1,793	1,779	1,771	1,902
Accrued Interest Payable	0.92	1.77	2.26	2.73	4.12	5.48	5.55
Long-Term Debt	259	288	318	316	284	335	232
Other Long-Term Liabilities	30	33	42	43	48	48	40
Total Equity & Noncontrolling Interests	191	213	263	263	283	286	299
Total Preferred & Common Equity	191	213	263	263	283	286	299
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	191	213	263	263	283	286	299
Common Stock	85	85	149	148	148	150	150
Retained Earnings	159	172	162	168	178	179	184
Treasury Stock	-17	-17	-17	-17	-17	-16	-16
Accumulated Other Comprehensive Income / (Loss)	-36	-27	-31	-37	-27	-26	-19

This table displays calculated financial ratios and metrics derived from Citizens Financial Services' official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	4.41%	12.21%	10.88%
EBITDA Growth	6.91%	-41.05%	56.65%
EBIT Growth	0.50%	-39.39%	56.56%
NOPAT Growth	-0.20%	-38.71%	56.18%
Net Income Growth	-0.20%	-38.71%	56.18%
EPS Growth	-0.97%	-43.93%	45.52%
Operating Cash Flow Growth	-14.09%	-20.17%	25.04%
Free Cash Flow Firm Growth	-651.14%	10.87%	125.35%
Invested Capital Growth	59.68%	31.54%	-0.71%
Revenue Q/Q Growth	2.80%	4.24%	0.86%
EBITDA Q/Q Growth	4.68%	-2.01%	2.50%
EBIT Q/Q Growth	3.51%	-2.17%	0.96%
NOPAT Q/Q Growth	3.31%	-1.85%	1.62%
Net Income Q/Q Growth	3.31%	-1.85%	1.62%
EPS Q/Q Growth	3.17%	-5.63%	-1.68%
Operating Cash Flow Q/Q Growth	8.44%	37.99%	-14.71%
Free Cash Flow Firm Q/Q Growth	-5.06%	-14.62%	-57.71%
Invested Capital Q/Q Growth	1.57%	3.95%	12.65%
Profitability Metrics	-	-	-
EBITDA Margin	44.54%	23.40%	33.06%
EBIT Margin	43.35%	23.42%	33.07%
Profit (Net Income) Margin	35.49%	19.39%	27.31%
Tax Burden Percent	81.87%	82.78%	82.59%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	18.13%	17.22%	17.41%
Return on Invested Capital (ROIC)	7.81%	3.36%	4.64%
ROIC Less NNEP Spread (ROIC-NNEP)	7.81%	3.36%	4.64%
Return on Net Nonoperating Assets (RNNOA)	6.27%	4.06%	4.96%
Return on Equity (ROE)	14.09%	7.42%	9.60%
Cash Return on Invested Capital (CROIC)	-38.15%	-23.88%	5.35%
Operating Return on Assets (OROA)	1.59%	0.81%	1.12%
Return on Assets (ROA)	1.30%	0.67%	0.93%
Return on Common Equity (ROCE)	14.09%	7.42%	9.60%
Return on Equity Simple (ROE_SIMPLE)	14.52%	6.37%	9.28%
Net Operating Profit after Tax (NOPAT)	29	18	28
NOPAT Margin	35.49%	19.39%	27.31%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	38.52%	43.47%	44.57%
Operating Expenses to Revenue	54.59%	70.56%	64.39%
Earnings before Interest and Taxes (EBIT)	35	22	34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	36	21	34
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.42	1.05	1.01
Price to Tangible Book Value (P/TBV)	1.70	1.54	1.43
Price to Revenue (P/Rev)	3.48	3.19	2.96
Price to Earnings (P/E)	9.80	16.45	10.83
Dividend Yield	2.00%	3.13%	3.10%
Earnings Yield	10.20%	6.08%	9.23%
Enterprise Value to Invested Capital (EV/IC)	1.11	0.93	0.93
Enterprise Value to Revenue (EV/Rev)	6.23	6.08	5.43
Enterprise Value to EBITDA (EV/EBITDA)	13.98	25.96	16.42
Enterprise Value to EBIT (EV/EBIT)	14.36	25.94	16.42
Enterprise Value to NOPAT (EV/NOPAT)	17.54	31.34	19.88
Enterprise Value to Operating Cash Flow (EV/OCF)	15.34	21.03	16.67
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	17.25
Leverage & Solvency	-	-	-
Debt to Equity	1.29	1.15	0.99
Long-Term Debt to Equity	1.29	1.15	0.99
Financial Leverage	0.80	1.21	1.07
Leverage Ratio	10.85	11.06	10.36
Compound Leverage Factor	10.85	11.06	10.36
Debt to Total Capital	56.24%	53.52%	49.83%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	56.24%	53.52%	49.83%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.76%	46.48%	50.17%
Debt to EBITDA	7.06	14.98	8.84
Net Debt to EBITDA	6.17	12.33	7.47
Long-Term Debt to EBITDA	7.06	14.98	8.84
Debt to NOPAT	8.85	18.08	10.70
Net Debt to NOPAT	7.74	14.89	9.05
Long-Term Debt to NOPAT	8.85	18.08	10.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-142	-126	32
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-12.64	-2.70	0.47
Operating Cash Flow to Interest Expense	2.96	0.57	0.49
Operating Cash Flow Less CapEx to Interest Expense	2.96	0.57	0.49
Efficiency Ratios	-	-	-
Asset Turnover	0.04	0.03	0.03
Fixed Asset Turnover	4.73	4.71	4.76
Capital & Investment Metrics	-	-	-
Invested Capital	457	602	597
Invested Capital Turnover	0.22	0.17	0.17
Increase / (Decrease) in Invested Capital	171	144	-4.25
Enterprise Value (EV)	510	558	553
Market Capitalization	285	293	301
Book Value per Share	$50.40	$59.43	$62.97
Tangible Book Value per Share	$42.18	$40.43	$44.35
Total Capital	457	602	597
Total Debt	257	322	298
Total Long-Term Debt	257	322	298
Net Debt	225	265	252
Capital Expenditures (CapEx)	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	257	322	298
Total Depreciation and Amortization (D&A)	0.97	-0.02	-0.01
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$7.32	$4.06	$5.86
Adjusted Weighted Average Basic Shares Outstanding	3.97M	4.38M	4.75M
Adjusted Diluted Earnings per Share	$7.32	$4.06	$5.85
Adjusted Weighted Average Diluted Shares Outstanding	3.97M	4.38M	4.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.97M	4.71M	4.76M
Normalized Net Operating Profit after Tax (NOPAT)	29	25	28
Normalized NOPAT Margin	35.79%	27.74%	27.19%
Pre Tax Income Margin	43.35%	23.42%	33.07%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	3.16	0.46	0.50
NOPAT to Interest Expense	2.59	0.38	0.41
EBIT Less CapEx to Interest Expense	3.16	0.46	0.50
NOPAT Less CapEx to Interest Expense	2.59	0.38	0.41
Payout Ratios	-	-	-
Dividend Payout Ratio	26.11%	47.74%	33.44%
Augmented Payout Ratio	30.51%	49.23%	34.40%

This table displays calculated financial ratios and metrics derived from Citizens Financial Services' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.78%	11.49%	8.35%	0.84%	21.02%	17.29%	28.02%	21.95%	-3.79%	3.42%
EBITDA Growth	13.75%	19.89%	2.33%	-157.60%	-11.84%	-4.48%	-2.73%	219.89%	7.91%	8.76%
EBIT Growth	6.45%	14.16%	3.21%	-163.60%	-0.57%	-4.92%	0.30%	219.81%	1.13%	3.47%
NOPAT Growth	6.80%	13.41%	1.88%	-154.08%	0.05%	-4.25%	2.29%	241.33%	-0.16%	5.88%
Net Income Growth	6.80%	13.41%	1.88%	-160.05%	0.05%	-4.25%	2.29%	227.29%	-0.16%	5.88%
EPS Growth	6.21%	13.25%	1.18%	-158.14%	-15.43%	-8.51%	-12.87%	211.00%	0.00%	-3.49%
Operating Cash Flow Growth	-13.04%	40.97%	-13.58%	-347.92%	-19.84%	82.07%	29.29%	140.26%	-16.25%	-35.32%
Free Cash Flow Firm Growth	-1,920.36%	-4,665.54%	-1,176.50%	-7,914.10%	22.30%	16.15%	74.08%	87.63%	146.29%	108.94%
Invested Capital Growth	56.83%	59.68%	85.01%	90.28%	28.53%	31.54%	12.95%	6.86%	-8.37%	-0.71%
Revenue Q/Q Growth	7.51%	0.33%	-6.27%	-0.26%	29.03%	-2.77%	2.31%	-4.99%	1.80%	4.52%
EBITDA Q/Q Growth	11.04%	2.53%	-11.98%	-157.48%	269.95%	11.09%	-10.36%	-29.15%	52.97%	11.96%
EBIT Q/Q Growth	9.73%	5.46%	-12.63%	-162.91%	271.55%	0.84%	-7.84%	-24.86%	44.80%	3.18%
NOPAT Q/Q Growth	9.32%	4.39%	-12.80%	-154.35%	302.23%	-0.11%	-6.84%	-24.90%	42.86%	5.93%
Net Income Q/Q Growth	9.32%	4.39%	-12.80%	-160.35%	282.14%	-0.11%	-6.84%	-24.90%	42.86%	5.93%
EPS Q/Q Growth	9.30%	0.00%	-12.76%	-158.48%	259.00%	8.18%	-14.37%	-25.50%	43.24%	4.40%
Operating Cash Flow Q/Q Growth	206.01%	-3.93%	16.92%	-172.13%	198.95%	118.20%	-16.98%	-77.54%	105.86%	68.51%
Free Cash Flow Firm Q/Q Growth	-4,449.94%	-4.78%	-37.03%	-25.11%	56.74%	-13.06%	57.64%	40.27%	261.83%	-78.16%
Invested Capital Q/Q Growth	47.38%	1.57%	9.59%	15.98%	-0.45%	3.95%	-5.89%	9.72%	-14.63%	12.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	44.47%	45.44%	42.67%	-24.59%	32.39%	37.01%	32.42%	24.18%	36.33%	38.92%
EBIT Margin	42.71%	44.90%	41.85%	-26.39%	35.09%	36.40%	32.79%	25.93%	36.88%	36.41%
Profit (Net Income) Margin	35.03%	36.44%	33.90%	-20.51%	28.96%	29.75%	27.09%	21.41%	30.05%	30.46%
Tax Burden Percent	82.01%	81.18%	81.02%	77.72%	82.52%	81.74%	82.63%	82.58%	81.47%	83.64%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.99%	18.82%	18.98%	0.00%	17.48%	18.26%	17.37%	17.42%	18.53%	16.36%
Return on Invested Capital (ROIC)	7.57%	8.02%	7.33%	-3.48%	4.96%	5.16%	4.95%	3.63%	5.47%	5.17%
ROIC Less NNEP Spread (ROIC-NNEP)	7.57%	8.02%	7.33%	-3.67%	4.96%	5.16%	4.95%	3.63%	5.47%	5.17%
Return on Net Nonoperating Assets (RNNOA)	6.37%	6.44%	6.27%	-3.44%	6.28%	6.23%	5.71%	4.31%	5.34%	5.53%
Return on Equity (ROE)	13.93%	14.46%	13.60%	-6.92%	11.24%	11.39%	10.66%	7.94%	10.81%	10.71%
Cash Return on Invested Capital (CROIC)	-36.62%	-38.15%	-52.09%	-58.11%	-21.44%	-23.88%	-8.80%	-2.08%	13.67%	5.35%
Operating Return on Assets (OROA)	1.55%	1.64%	1.55%	-0.86%	1.17%	1.26%	1.22%	0.91%	1.24%	1.24%
Return on Assets (ROA)	1.27%	1.33%	1.25%	-0.67%	0.96%	1.03%	1.01%	0.75%	1.01%	1.03%
Return on Common Equity (ROCE)	13.93%	14.46%	13.60%	-6.92%	11.24%	11.39%	10.66%	7.94%	10.81%	10.71%
Return on Equity Simple (ROE_SIMPLE)	14.69%	0.00%	13.69%	6.89%	6.91%	0.00%	6.36%	9.56%	9.17%	0.00%
Net Operating Profit after Tax (NOPAT)	7.54	7.88	6.87	-3.73	7.55	7.54	7.02	5.28	7.54	7.98
NOPAT Margin	35.03%	36.44%	33.90%	-18.48%	28.96%	29.75%	27.09%	21.41%	30.05%	30.46%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	36.37%	36.25%	42.77%	44.02%	44.05%	43.00%	45.70%	45.37%	44.62%	42.65%
Operating Expenses to Revenue	53.92%	53.91%	58.15%	102.37%	63.09%	62.82%	64.19%	65.94%	63.91%	63.59%
Earnings before Interest and Taxes (EBIT)	9.20	9.70	8.48	-5.33	9.15	9.22	8.50	6.39	9.25	9.54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9.58	9.82	8.64	-4.97	8.44	9.38	8.41	5.96	9.11	10
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.37	1.42	1.49	1.08	0.82	1.05	0.81	0.74	0.94	1.01
Price to Tangible Book Value (P/TBV)	1.66	1.70	1.75	1.63	1.24	1.54	1.18	1.07	1.33	1.43
Price to Revenue (P/Rev)	3.30	3.48	3.80	3.40	2.46	3.19	2.35	2.07	2.77	2.96
Price to Earnings (P/E)	9.35	9.80	10.86	15.66	11.94	16.45	12.74	7.72	10.22	10.83
Dividend Yield	1.44%	2.00%	2.41%	2.70%	4.21%	3.13%	4.02%	4.36%	3.34%	3.10%
Earnings Yield	10.69%	10.20%	9.21%	6.39%	8.37%	6.08%	7.85%	12.95%	9.79%	9.23%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.11	1.14	0.95	0.84	0.93	0.85	0.81	0.89	0.93
Enterprise Value to Revenue (EV/Rev)	6.19	6.23	6.87	6.61	5.50	6.08	4.91	4.94	4.66	5.43
Enterprise Value to EBITDA (EV/EBITDA)	14.14	13.98	15.62	23.96	22.11	25.96	22.53	15.66	14.33	16.42
Enterprise Value to EBIT (EV/EBIT)	14.37	14.36	16.02	25.07	22.05	25.94	22.24	15.16	14.11	16.42
Enterprise Value to NOPAT (EV/NOPAT)	17.52	17.54	19.63	30.47	26.72	31.34	26.66	18.41	17.20	19.88
Enterprise Value to Operating Cash Flow (EV/OCF)	16.08	15.34	18.13	26.23	25.22	21.03	16.19	12.57	12.10	16.67
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.21	17.25
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.35	1.29	1.35	1.21	1.20	1.15	1.00	1.17	0.78	0.99
Long-Term Debt to Equity	1.35	1.29	1.35	1.21	1.20	1.15	1.00	1.17	0.78	0.99
Financial Leverage	0.84	0.80	0.86	0.94	1.27	1.21	1.15	1.19	0.98	1.07
Leverage Ratio	10.98	10.85	10.85	11.14	11.69	11.06	10.60	10.62	10.66	10.36
Compound Leverage Factor	10.98	10.85	10.85	11.14	11.69	11.06	10.60	10.62	10.66	10.36
Debt to Total Capital	57.49%	56.24%	57.46%	54.73%	54.62%	53.52%	50.08%	53.89%	43.69%	49.83%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.49%	56.24%	57.46%	54.73%	54.62%	53.52%	50.08%	53.89%	43.69%	49.83%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	42.51%	43.76%	42.54%	45.27%	45.38%	46.48%	49.92%	46.11%	56.31%	50.17%
Debt to EBITDA	7.43	7.06	7.86	13.79	14.41	14.98	13.34	10.40	7.05	8.84
Net Debt to EBITDA	6.59	6.17	6.98	11.65	12.23	12.33	11.76	9.09	5.82	7.47
Long-Term Debt to EBITDA	7.43	7.06	7.86	13.79	14.41	14.98	13.34	10.40	7.05	8.84
Debt to NOPAT	9.20	8.85	9.87	17.54	17.42	18.08	15.78	12.23	8.47	10.70
Net Debt to NOPAT	8.17	7.74	8.77	14.81	14.78	14.89	13.92	10.68	6.98	9.05
Long-Term Debt to NOPAT	9.20	8.85	9.87	17.54	17.42	18.08	15.78	12.23	8.47	10.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-156	-163	-223	-280	-121	-137	-58	-35	56	12
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-52.99	-32.26	-31.80	-31.45	-8.47	-8.21	-3.41	-2.08	3.22	0.72
Operating Cash Flow to Interest Expense	3.15	1.76	1.48	-0.84	0.52	0.97	0.79	0.18	0.36	0.62
Operating Cash Flow Less CapEx to Interest Expense	3.15	1.76	1.48	-0.84	0.52	0.97	0.79	0.18	0.36	0.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.03	0.03	0.03	0.04	0.03	0.03	0.03
Fixed Asset Turnover	4.61	4.73	4.85	4.30	4.54	4.71	5.04	4.82	4.73	4.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	450	457	501	581	579	602	566	621	530	597
Invested Capital Turnover	0.22	0.22	0.22	0.19	0.17	0.17	0.18	0.17	0.18	0.17
Increase / (Decrease) in Invested Capital	163	171	230	276	128	144	65	40	-48	-4.25
Enterprise Value (EV)	493	510	573	553	485	558	479	504	471	553
Market Capitalization	263	285	317	284	217	293	229	212	280	301
Book Value per Share	$48.21	$50.40	$53.70	$66.29	$55.84	$59.43	$60.05	$60.86	$62.74	$62.97
Tangible Book Value per Share	$39.97	$42.18	$45.50	$43.92	$37.00	$40.43	$41.10	$41.95	$44.08	$44.35
Total Capital	450	457	501	581	579	602	566	621	530	597
Total Debt	259	257	288	318	316	322	284	335	232	298
Total Long-Term Debt	259	257	288	318	316	322	284	335	232	298
Net Debt	230	225	256	269	268	265	250	293	191	252
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.41	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	259	257	288	318	316	322	284	335	232	298
Total Depreciation and Amortization (D&A)	0.38	0.12	0.17	0.36	-0.70	0.16	-0.09	-0.43	-0.14	0.66
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.90	$1.88	$1.73	($1.01)	$1.61	$1.72	$1.49	$1.11	$1.59	$1.67
Adjusted Weighted Average Basic Shares Outstanding	3.97M	4.06M	3.97M	4.11M	4.70M	4.43M	4.70M	4.75M	4.75M	4.75M
Adjusted Diluted Earnings per Share	$1.90	$1.88	$1.73	($1.01)	$1.61	$1.72	$1.49	$1.11	$1.59	$1.66
Adjusted Weighted Average Diluted Shares Outstanding	3.97M	4.06M	3.97M	4.11M	4.70M	4.43M	4.70M	4.75M	4.75M	4.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.97M	3.97M	3.97M	4.70M	4.71M	4.71M	4.71M	4.76M	4.76M	4.76M
Normalized Net Operating Profit after Tax (NOPAT)	7.56	8.11	7.06	2.15	8.06	7.54	7.02	5.28	7.54	7.98
Normalized NOPAT Margin	35.10%	37.54%	34.88%	10.64%	30.93%	29.75%	27.09%	21.41%	30.05%	30.46%
Pre Tax Income Margin	42.71%	44.90%	41.85%	-26.39%	35.09%	36.40%	32.79%	25.93%	36.88%	36.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.13	1.92	1.21	-0.60	0.64	0.55	0.50	0.38	0.53	0.56
NOPAT to Interest Expense	2.57	1.56	0.98	-0.42	0.53	0.45	0.41	0.32	0.43	0.47
EBIT Less CapEx to Interest Expense	3.13	1.92	1.21	-0.60	0.64	0.55	0.50	0.38	0.53	0.56
NOPAT Less CapEx to Interest Expense	2.57	1.56	0.98	-0.42	0.53	0.45	0.41	0.32	0.43	0.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.79%	26.11%	26.18%	42.46%	44.65%	47.74%	49.44%	33.78%	33.88%	33.44%
Augmented Payout Ratio	33.04%	30.51%	30.53%	42.46%	46.11%	49.23%	51.16%	35.04%	34.63%	34.40%

Financials Breakdown Chart

Key Financial Trends

Citizens Financial Services (NASDAQ:CZFS) has shown a generally positive financial trajectory over the past four years, with notable trends in revenues, expenses, and cash flow performance.

Key Positive Financial Highlights:

Net interest income has increased consistently, reaching approximately $22.9 million in Q4 2024, up from about $18.1 million in Q1 2023 and $19.3 million in Q3 2022, reflecting robust growth in core lending and investment activities.
Non-interest income has shown steady growth, with Q4 2024 achieving $3.34 million, driven by service charges, trust fees, and capital gains, indicating diversification of revenue streams.
Net income attributable to common shareholders rose to approximately $7.98 million in Q4 2024 from $7.02 million in Q1 2024 and $7.54 million in Q4 2023 — a sign of improving profitability.
Diluted earnings per share (EPS) have increased over recent years, reaching $1.66 in Q4 2024 compared to $1.49 in Q1 2024 and $1.59 in Q3 2023, supporting stronger shareholder returns.
The company has maintained a consistent quarterly dividend, with $0.49 per share in Q4 2024, reflecting stable cash flow and a shareholder-friendly payout policy.
Operating cash flow improved, with Q4 2024 net cash from operating activities at $10.48 million compared to $6.22 million in Q3 2024 and $3.02 million in Q2 2024, signaling solid underlying business health.
Citizens Financial Services has actively managed its debt, with repayments exceeding new issuances in recent quarters, leading to a reduction in long-term debt from $334.8 million in Q2 2024 to $231.7 million in Q3 2024.
Total equity has increased to nearly $298.7 million as of Q3 2024, up from approximately $263.2 million in Q2 2023 and $213.2 million in Q1 2023, indicating strengthening capitalization.

Neutral Financial Observations:

Loans held for sale fluctuate significantly quarter to quarter (e.g., $6.7 million in Q1 2023 versus $13.5 million in Q4 2024), reflecting possible changes in lending strategy or asset management without clear impact on overall financial health.
The company’s total assets have steadily increased, from approximately $2.34 billion in Q1 2023 to about $3.03 billion in Q3 2024, consistent with growth but raising the need to monitor asset quality and returns.

Potential Negative Financial Factors:

Total non-interest expense has generally risen from around $11.6 million in Q1 2022 to approximately $16.7 million in Q4 2024, which could pressure margins if not matched by revenue growth.
Provision for credit losses has fluctuated, peaked sharply negative in Q2 2023 at -$4.85 million resulting in a net loss that quarter, indicating occasional credit quality challenges.
Net change in deposits shows volatility with large inflows and outflows (for example, a $177 million increase in Q3 2024 versus a $68 million decrease in Q4 2024), which could affect funding stability.
The company has experienced sizeable investing cash outflows related to purchase of investment securities, notably a $103 million outflow in Q3 2023 and $24.6 million in Q4 2024, potentially reflecting aggressive asset allocation or repositioning.
Restructuring charges appeared in some periods, notably $8.4 million in Q2 2023 and lower or zero in other quarters, which may suggest ongoing efforts to optimize operations but could add uncertainty.

Summary: Citizens Financial Services has demonstrated solid earnings growth and improving profitability with rising net interest income and non-interest income diversification. The company maintains healthy cash flows and a consistent dividend, along with active balance sheet management. However, rising operating expenses, volatility in credit loss provisions, and fluctuating deposit levels warrant monitoring as potential risks. Overall, the financials suggest a bank growing cautiously with an emphasis on profitability and capital strength.

10/26/25 04:05 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Citizens Financial Services' Financials

When does Citizens Financial Services' fiscal year end?

According to the most recent income statement we have on file, Citizens Financial Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Citizens Financial Services' net income changed over the last 2 years?

Citizens Financial Services' net income appears to be on a downward trend, with a most recent value of $27.82 million in 2024, falling from $29.06 million in 2022. The previous period was $17.81 million in 2023. Find out what analysts predict for Citizens Financial Services in the coming months.

How has Citizens Financial Services' revenue changed over the last 2 years?

Over the last 2 years, Citizens Financial Services' total revenue changed from $81.87 million in 2022 to $101.86 million in 2024, a change of 24.4%.

How much debt does Citizens Financial Services have?

Citizens Financial Services' total liabilities were at $2.73 billion at the end of 2024, a 1.1% increase from 2023, and a 27.8% increase since 2022.

How much cash does Citizens Financial Services have?

In the past 2 years, Citizens Financial Services' cash and equivalents has ranged from $24.81 million in 2022 to $37.73 million in 2023, and is currently $30.28 million as of their latest financial filing in 2024.

How has Citizens Financial Services' book value per share changed over the last 2 years?

Over the last 2 years, Citizens Financial Services' book value per share changed from 50.40 in 2022 to 62.97 in 2024, a change of 24.9%.

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This page (NASDAQ:CZFS) was last updated on 10/26/2025 by MarketBeat.com Staff

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Citizens Financial Services (CZFS) Financials

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Citizens Financial Services (CZFS) Financials

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