Fifth Third Bancorp (FITB) FY2013 results: revenue $6.8 billion, up 2.9% on the year
Fifth Third Bancorp (FITB) reported revenue of $6.8 billion for fiscal 2013, the year ended 31 December 2013, up 2.9% on the year before. Net income was $1.8 billion, up 16.5%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$6.8 billion
+2.9% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$1.8 billion
+16.5% on the year
FY2007FY2013
Diluted EPS
$2.02
+21.7% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,788
6,594
6,012
+2.9%
Interest expense
412
512
661
-19.5%
Pre-tax income
2,598
2,210
1,831
+17.6%
Income tax
772
636
533
+21.4%
Effective tax rate
29.7%
28.8%
29.1%
Net income
1,836
1,576
1,297
+16.5%
Net margin
27.0%
23.9%
21.6%
Diluted EPS
$2.02
$1.66
$1.18
+21.7%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,595
2,557
2,366
+79.7%
Capital expenditure
274
362
319
-24.3%
Free cash flow
4,321
2,195
2,047
+96.9%
Cash from investing
n/a
-6,533
-5,285
Cash from financing
n/a
3,754
3,423
Depreciation and amortisation
507
531
455
-4.5%
Share-based compensation
78.0
69.0
59.0
+13.0%
Buybacks
1,320
n/a
n/a
Dividends paid
393
309
192
+27.2%
Dividend per share
$0.47
$0.36
$0.28
+30.6%
Diluted shares, weighted
895m
946m
950m
-5.4%
Shares outstanding at period end
855m
882m
920m
-3.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
14,589
13,716
13,201
+6.4%
Non-controlling interest
37.0
48.0
50.0
-22.9%
Deposits
99,275
89,517
85,710
+10.9%
Debt
11,297
14,266
13,267
-20.8%
Other liabilities
5,245
4,347
4,739
+20.7%
Total liabilities and equity
130,443
121,894
116,967
+7.0%
Fixed assets
2,531
2,542
2,447
-0.4%
Goodwill
2,416
2,416
2,417
0.0%
Intangible assets
19.0
27.0
40.0
-29.6%
Securities held for sale or to maturity
208
284
322
-26.8%
Loans
87,032
83,928
78,763
+3.7%
Trading assets
343
207
177
+65.7%
Other assets
37,894
32,490
32,801
+16.6%
Total assets
130,443
121,894
116,967
+7.0%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.