Fifth Third Bancorp (FITB) FY2011 results: revenue $6.0 billion, down 5.1% on the year
Fifth Third Bancorp (FITB) reported revenue of $6.0 billion for fiscal 2011, the year ended 31 December 2011, down 5.1% on the year before. Net income was $1.3 billion, up 72.2%, and diluted earnings per share $1.18. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$6.0 billion
-5.1% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$1.3 billion
+72.2% on the year
FY2007FY2011
Diluted EPS
$1.18
+87.3% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
6,012
6,333
8,136
-5.1%
Interest expense
661
885
1,314
-25.3%
Pre-tax income
1,831
940
767
+94.8%
Income tax
533
187
30.0
+185.0%
Effective tax rate
29.1%
19.9%
3.9%
Net income
1,297
753
737
+72.2%
Net margin
21.6%
11.9%
9.1%
Diluted EPS
$1.18
$0.63
$0.67
+87.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,366
3,305
3,794
-28.4%
Capital expenditure
319
224
173
+42.4%
Free cash flow
2,047
3,081
3,621
-33.6%
Cash from investing
-5,285
1,708
1,076
Cash from financing
3,423
-5,172
-5,291
Depreciation and amortisation
455
457
341
-0.4%
Share-based compensation
59.0
64.0
45.0
-7.8%
Buybacks
n/a
n/a
2.0
Dividends paid
192
32.0
27.0
+500.0%
Dividend per share
$0.28
$0.04
$0.04
+600.0%
Diluted shares, weighted
950m
n/a
n/a
Shares outstanding at period end
920m
796m
795m
+15.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
13,201
14,051
13,497
-6.0%
Non-controlling interest
50.0
29.0
n/a
+72.4%
Deposits
85,710
81,648
84,305
+5.0%
Debt
13,267
11,411
10,507
+16.3%
Other liabilities
4,739
3,868
5,071
+22.5%
Total liabilities and equity
116,967
111,007
113,380
+5.4%
Fixed assets
2,447
2,389
2,400
+2.4%
Goodwill
2,417
2,417
2,417
0.0%
Intangible assets
40.0
62.0
106
-35.5%
Securities held for sale or to maturity
322
353
355
-8.8%
Loans
78,763
74,487
73,030
+5.7%
Trading assets
177
294
355
-39.8%
Other assets
32,801
31,005
34,717
+5.8%
Total assets
116,967
111,007
113,380
+5.4%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.