Citizens Inc Financials

CIA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Citizens Inc (CIA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CIA FY2025 2026-05-07

Small changes in asset returns drive this business because a liability-heavy balance sheet magnifies modest profitability for shareholders.

Over the last two years, equity grew from $172M to $235M, giving the company a thicker capital cushion without a major change in scale. Yet ROE fell from 14.2% to 6.2%, showing that balance-sheet strengthening came alongside weaker earning power rather than alongside better asset productivity.

Cash conversion remained decent in the latest year: operating cash flow of $18.0M slightly exceeded net income of $14.6M, so reported profit was broadly backed by cash rather than by accounting timing alone. With capital spending only $447K, free cash flow is driven mostly by operating inflows, not by a need to keep replacing a large physical asset base.

Leverage is still the core mechanic: assets of $1.75B sit against equity of only $235M, leaving returns highly sensitive to even small shifts in profitability on that asset base. The reported debt-to-equity ratio improved from 8.7x to 6.5x despite only modest revenue growth, suggesting retained earnings are doing more of the balance-sheet repair than rapid expansion.

Financial Health Signals

Financial Health Score 20/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Citizens Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Capital

Combined Ratio

Stability

Key Financial Metrics

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Earnings & Revenue

Revenue

$255.6M

YoY+4.3%

5Y CAGR+1.4%

10Y CAGR+0.8%

Citizens Inc generated $255.6M in revenue in fiscal year 2025. This represents an increase of 4.3% from the prior year.

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$17.5M

YoY-43.9%

5Y CAGR-18.4%

10Y CAGR-14.8%

Citizens Inc generated $17.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 43.9% from the prior year.

Cash & Debt

$23.0M

YoY-21.5%

5Y CAGR-7.6%

10Y CAGR-12.0%

Citizens Inc held $23.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$447K

YoY-32.6%

5Y CAGR+15.1%

10Y CAGR-2.7%

Citizens Inc invested $447K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 32.6% from the prior year.

CIA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$255.6M+4.3%	$245.0M+1.8%	$240.7M+3.5%	$232.5M-7.2%	$250.5M+4.9%	$238.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2.9M+4133.8%	$68K-96.1%	$1.7M+26.8%	$1.4M+103.2%	-$42.2M-3075.4%	-$1.3M
Net Income	N/A	N/A	N/A	$26.0M-64.2%	$72.7M+761.7%	-$11.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$59.7M-17.1%	$72.1M+14.7%	$62.8M-3.5%	$65.1M+17.0%	$55.7M-12.3%	$63.5M+2.8%	$61.7M-0.6%	$62.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$106K-79.8%	$526K-74.5%	$2.1M+353.2%	$455K+377.4%	-$164K-272.6%	$95K-61.5%	$247K+137.6%	-$657K
Net Income	$2.3M-69.1%	$7.3M+203.6%	$2.4M-62.6%	$6.5M+498.0%	-$1.6M-144.8%	$3.6M+29.8%	$2.8M-29.5%	$4.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CIA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.8B+4.1%	$1.7B+1.0%	$1.7B+4.9%	$1.6B-14.2%	$1.9B+0.6%	$1.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$23.0M-21.5%	$29.3M+8.4%	$27.0M+17.5%	$23.0M-15.8%	$27.3M-20.0%	$34.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.5B+3.0%	$1.5B-1.5%	$1.5B+2.3%	$1.5B-4.6%	$1.5B-0.6%	$1.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$235.0M+11.7%	$210.4M+22.2%	$172.1M+34.7%	$127.8M+27.8%	$100.0M-66.8%	$300.9M
Retained Earnings	$71.7M+25.6%	$57.1M+35.4%	$42.1M+158.4%	$16.3M+135.8%	-$45.6M+44.7%	-$82.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.7B-0.9%	$1.8B+0.7%	$1.7B+1.7%	$1.7B+0.6%	$1.7B+1.0%	$1.7B-2.9%	$1.7B+4.4%	$1.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$18.5M-19.4%	$23.0M-0.6%	$23.1M+2.0%	$22.7M+23.5%	$18.4M-37.3%	$29.3M-9.6%	$32.4M+22.9%	$26.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.5B-1.2%	$1.5B+0.2%	$1.5B+2.2%	$1.5B0.0%	$1.5B+0.6%	$1.5B-3.5%	$1.5B+3.9%	$1.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$238.7M+1.6%	$235.0M+4.2%	$225.6M-1.5%	$229.0M+5.0%	$218.1M+3.7%	$210.4M+1.3%	$207.6M+8.4%	$191.5M
Retained Earnings	$73.9M+3.2%	$71.7M+11.4%	$64.3M+3.9%	$61.9M+11.7%	$55.4M-2.8%	$57.1M+6.8%	$53.4M+5.5%	$50.7M

CIA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$18.0M-43.6%	$31.9M+44.7%	$22.1M-61.3%	$56.9M+40.7%	$40.5M-17.2%	$48.8M
Capital Expenditures	$447K-32.6%	$663K+50.0%	$442K+342.0%	$100K-90.1%	$1.0M+355.7%	$221K
Free Cash Flow	$17.5M-43.9%	$31.3M+44.6%	$21.6M-62.0%	$56.8M+44.0%	$39.4M-18.9%	$48.6M
Investing Cash Flow	-$19.7M+27.6%	-$27.2M-87.5%	-$14.5M+76.1%	-$60.7M-47.9%	-$41.1M+33.5%	-$61.8M
Financing Cash Flow	-$4.6M-86.5%	-$2.5M+30.1%	-$3.5M-608.6%	-$499K+92.0%	-$6.2M-787.5%	$904K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0-100.0%	$919K-66.0%	$2.7M-70.2%	$9.1M	$0

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$323K-103.6%	$9.1M+94.6%	$4.7M+34.7%	$3.5M+363.9%	$748K-93.1%	$10.8M+11.4%	$9.7M+111.8%	$4.6M
Capital Expenditures	$326K+213.5%	$104K+73.3%	$60K-65.9%	$176K+64.5%	$107K+4.9%	$102K-72.6%	$372K+184.0%	$131K
Free Cash Flow	-$649K-107.2%	$9.0M+94.9%	$4.6M+40.0%	$3.3M+413.9%	$641K-94.0%	$10.7M+14.8%	$9.3M+109.6%	$4.5M
Investing Cash Flow	-$3.4M+59.7%	-$8.5M-87.9%	-$4.5M-194.4%	$4.8M+142.0%	-$11.4M+17.4%	-$13.8M-341.7%	-$3.1M-326.3%	-$735K
Financing Cash Flow	-$705K+3.8%	-$733K-338.8%	$307K+107.8%	-$4.0M-1610.8%	-$231K-135.7%	-$98K+82.0%	-$545K+27.4%	-$751K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0	$0	N/A

CIA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	11.2%-17.8pp	29.0%+33.6pp	-4.6%
Return on Equity	N/A	N/A	N/A	20.3%-52.4pp	72.7%+76.4pp	-3.6%
Return on Assets	N/A	N/A	N/A	1.6%-2.3pp	3.9%+4.5pp	-0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	6.47-0.5	7.01-1.7	8.70-2.8	11.45-3.9	15.35+10.2	5.13
FCF Margin	6.9%-5.9pp	12.8%+3.8pp	9.0%-15.5pp	24.4%+8.7pp	15.7%-4.6pp	20.3%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	3.8%-6.4pp	10.2%+6.3pp	3.9%-6.1pp	9.9%+12.8pp	-2.9%-8.6pp	5.7%+1.2pp	4.5%-1.9pp	6.4%
Return on Equity	0.9%-2.2pp	3.1%+2.0pp	1.1%-1.8pp	2.8%+3.6pp	-0.7%-2.5pp	1.7%+0.4pp	1.3%-0.7pp	2.1%
Return on Assets	0.1%-0.3pp	0.4%+0.3pp	0.1%-0.2pp	0.4%+0.5pp	-0.1%-0.3pp	0.2%+0.0pp	0.2%-0.1pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	6.29-0.2	6.47-0.3	6.72+0.2	6.48-0.3	6.80-0.2	7.01-0.4	7.36-0.3	7.68
FCF Margin	-1.1%-13.6pp	12.5%+5.1pp	7.3%+2.3pp	5.1%+3.9pp	1.1%-15.8pp	16.9%+1.8pp	15.1%+8.0pp	7.2%

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Frequently Asked Questions

What is Citizens Inc's annual revenue?

Citizens Inc (CIA) reported $255.6M in total revenue for fiscal year 2025. This represents a 4.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Citizens Inc's revenue growing?

Citizens Inc (CIA) revenue grew by 4.3% year-over-year, from $245.0M to $255.6M in fiscal year 2025.

What is Citizens Inc's free cash flow?

Citizens Inc (CIA) generated $17.5M in free cash flow during fiscal year 2025. This represents a -43.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Citizens Inc's operating cash flow?

Citizens Inc (CIA) generated $18.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Citizens Inc's total assets?

Citizens Inc (CIA) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Citizens Inc's capital expenditures?

Citizens Inc (CIA) invested $447K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Citizens Inc's debt-to-equity ratio?

Citizens Inc (CIA) had a debt-to-equity ratio of 6.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

How financially healthy is Citizens Inc?

Citizens Inc (CIA) scores 20 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.