Fifth Third Bancorp (FITB) FY2014 results: revenue $6.1 billion, down 10.8% on the year
Fifth Third Bancorp (FITB) reported revenue of $6.1 billion for fiscal 2014, the year ended 31 December 2014, down 10.8% on the year before. Net income was $1.5 billion, down 19.3%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$6.1 billion
-10.8% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$1.5 billion
-19.3% on the year
FY2007FY2014
Diluted EPS
$1.66
-17.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,052
6,788
6,594
-10.8%
Interest expense
451
412
512
+9.5%
Pre-tax income
2,028
2,598
2,210
-21.9%
Income tax
545
772
636
-29.4%
Effective tax rate
26.9%
29.7%
28.8%
Net income
1,481
1,836
1,576
-19.3%
Net margin
24.5%
27.0%
23.9%
Diluted EPS
$1.66
$2.02
$1.66
-17.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
2,076
4,595
2,557
-54.8%
Capital expenditure
216
274
362
-21.2%
Free cash flow
1,860
4,321
2,195
-57.0%
Cash from investing
n/a
n/a
-6,533
Cash from financing
n/a
n/a
3,754
Depreciation and amortisation
414
507
531
-18.3%
Share-based compensation
83.0
78.0
69.0
+6.4%
Buybacks
654
1,320
n/a
-50.5%
Dividends paid
423
393
309
+7.6%
Dividend per share
$0.51
$0.47
$0.36
+8.5%
Diluted shares, weighted
843m
895m
946m
-5.8%
Shares outstanding at period end
824m
855m
882m
-3.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
15,626
14,589
13,716
+7.1%
Non-controlling interest
39.0
37.0
48.0
+5.4%
Deposits
101,712
99,275
89,517
+2.5%
Debt
16,667
11,297
14,266
+47.5%
Other liabilities
4,662
5,245
4,347
-11.1%
Total liabilities and equity
138,706
130,443
121,894
+6.3%
Fixed assets
2,465
2,531
2,542
-2.6%
Goodwill
2,416
2,416
2,416
0.0%
Intangible assets
15.0
19.0
27.0
-21.1%
Securities held for sale or to maturity
187
208
284
-10.1%
Loans
88,762
87,032
83,928
+2.0%
Trading assets
360
343
207
+5.0%
Other assets
44,501
37,894
32,490
+17.4%
Total assets
138,706
130,443
121,894
+6.3%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.