# Citigroup Stock Q3 2026: EPS Up 53% as Services Grows 15%
> Citigroup stock Q3 2026: EPS up 53% to $2.85, Services revenue up 15%, RoTCE of 11.5% and a 12.8% CET1 ratio. C earnings, guidance, Banamex and risks.

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## Facts
- Ticker: C
- QSILabs fair value: $98.13 USD
- Price: $122.64 (as of 2026-10-30)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-13); price as of 2026-10-30 close
- Fiscal period: Q3 2026 (July-September 2026)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/citigroup-stock-q3-2026-earnings-services-rotce/

## Short answer
Citigroup stock Q3 2026 is a story of a turnaround that is starting to show in the returns. In the three months to 30 September 2026, Citigroup earned $5,245m, up 40%, and $2.85 per diluted share, up 53% from $1.86. Revenue rose 8% to $23,845m, expenses fell 2%, and the return on tangible common equity (RoTCE) rose to 11.5% from 8.0%. Services, the cash-management and custody business, grew revenue 15% and earned a 31.2% return on its capital. Management raised its 2026 RoTCE guidance to above 11%. Our excess-return model values Citigroup at $98.13 a share, 20.0% below the $122.64 close on 30 October 2026: the share price assumes Citi earns a little more than its cost of equity for good, something it has not done on average over the past decade.

## Key takeaways
- EPS up 53%, profit up 40%. Q3 2026 net income was $5,245m against $3,752m a year earlier, and diluted EPS rose to $2.85 from $1.86. The year-ago quarter included a $726m goodwill impairment tied to Banamex; excluding it, EPS rose 27% from $2.24 (8-K Ex 99.1).
- Services is the engine. Services revenue rose 15% to $6,614m and its net income 27% to $2,637m, about half of Citi's profit, on a 31.2% RoTCE (8-K Ex 99.1).
- Returns are inside the target range. RoTCE was 11.5% in the quarter and 12.6% in the first nine months, against 8.6% a year earlier. The near-term target is 11-13% "into the 2027 and 2028 time period" (8-K Ex 99.2; Q3 2026 earnings call).
- Guidance raised. Citi now expects a 2026 RoTCE above 11%, against its original 10-11% target, with growth in net interest income excluding Markets "in the mid to high 6% range" and an efficiency ratio below 60% (Q3 2026 earnings call).
- Capital returned, CET1 steady. Citi returned $4.1bn to common shareholders, including $3bn of buybacks, and held its CET1 ratio at 12.8%, about 1.2 points above its 11.6% regulatory requirement (8-K Ex 99.1; Q3 2026 earnings call).
- Our value: $98.13 a share, 20.0% below the $122.64 close on 30 October 2026 and up from $96.43 in our previous estimate. The average analyst price target we track is $150.83 (StockAnalysis, S&P Global data).
- What to watch. Fourth-quarter results, expected in mid-January 2027, where consensus EPS is $2.27, and the Banamex deconsolidation in early 2027, which brings an expected loss of about $9bn through the income statement (Equibles; Q3 2026 earnings call).

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