olivLaw · US equity research
Citizens, Inc. CIA
Life Insurance · SIC 6311 · Vertical: Life Insurance (SIC 6311)
At the close of 04 Nov 2026, Citizens, Inc. (CIA) stock was 4.13 USD (+8.12% on the day), with market capitalisation 209.2 m USD, P/E 18.0, beta 1.31, 52-week range 3.37–6.38 USD. Latest reported quarter (Q2 2026): revenue of 60.4 m USD (−7.2% YoY), net income of -425.0 k USD (−106.6% YoY).
Data as of · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 68.0
- strong (55–70)
- Bollinger (20, 2)
- 3.24 – 3.98
- above the upper band · %B 1.21 · band width 20.3%
- SMA 50 / 200
- 3.64 / 4.84
- mixed trend
- MACD (12, 26, 9)
- 0.07 / 0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +16.0% | −2.0% | +18.0 pp | — |
| 3 months | −11.2% | −2.2% | −9.0 pp | — |
| 6 months | −26.5% | +4.3% | −30.8 pp | — |
| Year to date | −14.5% | +10.6% | −25.1 pp | — |
| 1 year | −29.4% | +10.5% | −39.9 pp | +5.9% |
| 3 years | +36.3% | +73.7% | −37.4 pp | +51.2% |
| 5 years | −39.9% | +61.7% | −101.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 61.7 m | 63.5 m | 55.7 m | 65.1 m | 62.8 m | 72.1 m | 59.7 m | 60.4 m |
| Pre-tax income | 3.0 m | 3.7 m | -1.8 m | 6.9 m | 4.5 m | 7.9 m | 2.4 m | -529.0 k |
| Income tax | 247.0 k | 95.0 k | -164.0 k | 455.0 k | 2.1 m | 526.0 k | 106.0 k | -104.0 k |
| Net income | 2.8 m | 3.6 m | -1.6 m | 6.5 m | 2.4 m | 7.3 m | 2.3 m | -425.0 k |
| Operating cash flow | 9.7 m ≈ | 10.8 m | 748.0 k | 3.5 m ≈ | 4.7 m ≈ | 9.1 m | -323.0 k | 2.0 m ≈ |
| Capex | 372.0 k ≈ | 102.0 k | 107.0 k | 176.0 k ≈ | 60.0 k ≈ | 104.0 k | 326.0 k | 35.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 244.0 m | 250.5 m | 238.9 m | 250.5 m | 232.5 m | 240.7 m | 245.0 m | 255.6 m |
| Revenue YoY | −3.4% | +2.7% | −4.7% | +4.9% | −7.2% | +3.5% | +1.8% | +4.3% |
| Net income | -11.1 m | -1.4 m | -11.0 m | 72.7 m | 26.0 m | 24.4 m | 14.9 m | 14.6 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −64.2% | −6.0% | −39.0% | −2.2% |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -4.5% | -0.5% | -4.6% | 29.0% | 11.2% | 10.2% | 6.1% | 5.7% |
| Free cash flow | 83.9 m | 71.7 m | 48.6 m | 39.4 m | 56.8 m | 21.6 m | 31.3 m | 17.5 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 23.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 235.0 m USD
- Total assets
- 1.8 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- unavailable
- ROA
- 0.8%
- FCF margin
- 6.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Pre-tax income | -12.3 m | 30.5 m | 27.4 m | 26.2 m | 15.0 m | 17.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Net income | -11.0 m | 72.7 m | 26.0 m | 24.4 m | 14.9 m | 14.6 m | SEC (XBRL)· 12 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 34.1 m | 27.3 m | 23.0 m | 27.0 m | 29.3 m | 23.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Total assets | 1.8 bn | 1.9 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.8 bn | SEC (XBRL)· 12 Mar 2026verified |
| Total liabilities | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 12 Mar 2026verified |
| Equity | 300.9 m † | 100.0 m † | 127.8 m † | -118.2 m | -96.0 m | 235.0 m † | SEC (XBRL)· 12 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Computed indicators
Growth
Profitability
Returns
Market and valuation
Insurance
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 209.2 m USD
Key indicators
Coverage and freshness
Score by group
62% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.80 – 9.38 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income4.11 – 4.30 (Mid 4.20)
- Justified P/B1.49 – 2.00 (Mid 1.71)
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
- Peers: P/E0.80 – 2.98 (Mid 2.08)16 companies used · median multiple 9.1x · quartiles 3.5x – 13.0xAAME, ANG-PD, ATHS, BHF, CRBD, FG, GL, GNW, JXN, LNC, MET, PFH, PRI, PUK, RGA, VOYA
- Peers: P/B1.53 – 9.38 (Mid 4.11)16 companies used · median multiple 0.9x · quartiles 0.3x – 2.0xAAME, ANG-PD, ATHS, BHF, CRBD, FG, GL, GNW, JXN, LNC, MET, PFH, PRI, PUK, RGA, VOYA
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 5.0% | 11 (vs peers) | 29% |
| Loss ratio · Quality | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 3.2% | 32 (on a fixed band) | 13% |
| ROA · Balance sheet | 0.7% | 7 (on a fixed band) | 13% |
| P/B · Valuation | 0.9x | 50 (vs peers) | 23% |
| P/E (TTM) · Valuation | 18.0x | 6 (vs peers) | 23% |
| Dividend yield · Returns | unavailable | unavailable | — |
| Payout ratio (EPS) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet7/100 · 1/1 factors with a value
- Growth· partial32/100 · 1/2 factors with a value
- Quality· partial11/100 · 1/2 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation28/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CITIZENS, INC. (CIA). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: YoY growth 4.3%; net margin 4.5%; ROE 5.0%.
The estimated value range is 1.51–3.64 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 3.10 USD, the price of 4.13 USD leaves a potential of -25.0% (value / price − 1) and a margin of safety of -33.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROE: 5.0%
- ROA: 0.7%
- P/E (TTM): 18.0x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Loss ratio, EPS CAGR 3Y, Dividend yield, Payout ratio (EPS).
Versus the vertical median
Life Insurance (SIC 6311) · same industry (4-digit SIC) · compared with 19 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| PUKPrudential PLC | 67.2 bn | 17.2 | 21.2% | 34.6% | +7.0% | −10% / +20% |
| METMetLife, Inc. | 64.0 bn | 19.1 | 13.2% | 4.6% | +8.6% | +31% / +58% |
| RGAReinsurance Group Of America, Incorporated | 17.3 bn | 11.6 | 11.7% | 5.8% | +7.2% | +39% / +62% |
| GLGlobe Life Inc. | 12.4 bn | 10.7 | 20.9% | 19.6% | +3.7% | +20% / +31% |
| VOYAVoya Financial, Inc. | 9.5 bn | 17.5 | 13.1% | 7.4% | +1.7% | +49% / +46% |
| CRBDCorebridge Financial, Inc. | 9.3 bn | 4.6 | 21.7% | 10.6% | −1.2% | −11% / unavailable |
| JXNJackson Financial Inc. | 9.1 bn | 11.1 | 9.5% | 13.4% | +104.3% | +40% / +188% |
| PRIPrimerica, Inc. | 8.8 bn | 11.4 | 33.0% | 23.2% | +6.6% | +11% / +36% |
| LNCLincoln National Corp | 8.0 bn | 3.6 | 22.6% | 12.2% | −1.2% | +1% / +75% |
| PFHPrudential Financial Inc | 5.3 bn | 1.4 | 12.6% | 6.0% | −13.7% | −11% / −20% |
| GNWGenworth Financial, Inc. | 3.5 bn | 17.5 | 2.4% | 2.9% | +0.1% | +6% / +56% |
| FGF&G Annuities & Life, Inc. | 2.9 bn | 7.4 | 9.2% | 6.9% | −0.2% | −32% / −46% |
| BHFBrighthouse Financial, Inc. | 2.4 bn | 3.3 | 13.6% | 12.5% | +43.2% | −35% / −18% |
| CIACitizens, Inc. | 209.2 m | 18.0 | 5.0% | 4.5% | +4.3% | −29% / +36% |
| AAMEAtlantic American Corporation | 24.3 m | 4.3 | 5.2% | 2.9% | +11.9% | −51% / −39% |
| ATHSAthene Holding Ltd | 4.7 m | 0.0 | 4.5% | 2.9% | +24.1% | −8% / unavailable |
| ANG-PDAmerican National Group Inc. | 215.5 k | 0.0 | 8.4% | 12.6% | −0.4% | −15% / unavailable |
| SLFSun Life Financial Inc | — | — | 14.2% | 8.5% | +8.0% | +39% / +62% |
| AEGAegon Ltd. | — | — | 10.5% | — | +1.1% | +7% / +56% |
| MFCManulife Financial Corporation | — | — | 11.0% | 68.5% | +7.1% | +31% / +135% |
1- and 3-year price returns: for CIA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 2.41 Total return -42% · Per year -42% | 4.26 Total return 3% · Per year 3% | 6.42 Total return 56% · Per year 56% |
| 3 years | 2.28 Total return -45% · Per year -18% | 4.54 Total return 10% · Per year 3% | 7.52 Total return 82% · Per year 22% |
| 5 years | 2.15 Total return -48% · Per year -12% | 4.84 Total return 17% · Per year 3% | 8.81 Total return 113% · Per year 16% |
- Exit P/E± 1.14
- Net margin± 0.79
- Annual revenue growth± 0.66
- Annual dilution± 0.07
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Palestinian citizens of Israel face intimidation after election successAl Jazeera English · 04 Nov 2026 · EN
- EU issues guidelines urging citizens to pack emergency bags, prepare for 72 hour…Telegram — Insider Paper (EN, defense leaks) · 04 Nov 2026 · EN
- Some Israeli citizens welcome Arab parties in the next governmentCGTN — World · 04 Nov 2026 · EN
- BiH Citizens prevented from Smuggling 28 Foreign NationalsSarajevo Times (BA, EN) · 04 Nov 2026 · EN
- South Dakota approves ballot measure affirming only citizens can vote in electionsThe Hill · 04 Nov 2026 · EN
- NEW: EU issues guidelines urging citizens to pack emergency bags, prepare for 72…Telegram — Insider Paper (EN, defense leaks) · 03 Nov 2026 · EN
- EU issues guidelines urging citizens to prepare for first 72 hours of emergenciesAnadolu Agency (TR, EN) · 03 Nov 2026 · EN
- Indonesian police name suspects after 58 citizens lured to Russia to serve as mercenariesCNA (Channel NewsAsia) · 03 Nov 2026 · EN
- Mexico urges its citizens to avoid nonessential travel to Saudi ArabiaAnadolu Agency (TR, EN) · 03 Nov 2026 · EN
- Indonesia Urges Russia to Stop Recruiting Its Citizens Into Ukraine WarThe Diplomat (Asia geopolitics) · 02 Nov 2026 · EN
- US warns citizens of potential Houthi attacks, travel disruptions in Saudi ArabiaAnadolu Agency (TR, EN) · 02 Nov 2026 · EN
- Lubinets: Ukraine will not disclose number of citizens evacuated from OleshkyUkrinform (UA, EN) · 02 Nov 2026 · EN
- NEW: Japan’s new disaster agency urges citizens to stockpile food and water, pre…Telegram — Insider Paper (EN, defense leaks) · 02 Nov 2026 · EN
- Ukrainian human rights chief on talks with Russian counterpart: "I know no other way to bring back our citizens"Ukrainska Pravda (UA, EN) · 02 Nov 2026 · EN
- JUST IN - Japan launches disaster management agency Japan urges all citizens to …Telegram — Insider Paper (EN, defense leaks) · 02 Nov 2026 · EN
- Citizens of Novi Sad pay tribute to the victims of the canopy collapseSerbian Monitor (RS, EN) · 02 Nov 2026 · EN
- Spain train crash: US, Japan and Canada citizens among dead, authorities sayThe Guardian World · 02 Nov 2026 · EN
- Spain train crash: four US citizens, and nationals from Japan, Canada among dead, authorities sayThe Guardian World · 02 Nov 2026 · EN
- Two Croatian Citizens got lost on Kamešmsnica, successfully rescued by GSS MembersSarajevo Times (BA, EN) · 01 Nov 2026 · EN
- Ghana claims Putin has banned recruitment of its citizens to fight against Ukraine, Reuters saysUkrainska Pravda (UA, EN) · 01 Nov 2026 · EN
SEC filings
- Current report09 Oct 2026Material agreement · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations
- Current report18 Jun 2026Shareholder vote
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations
- Proxy statement30 Apr 2026
- Annual report12 Mar 2026
- Current report12 Mar 2026Results of operations
- Current report10 Mar 2026Departure or appointment of officers · Financial statements and exhibits
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.