Fifth Third Bancorp (FITB) FY2016 results: revenue $6.3 billion, down 3.4% on the year
Fifth Third Bancorp (FITB) reported revenue of $6.3 billion for fiscal 2016, the year ended 31 December 2016, down 3.4% on the year before. Net income was $1.5 billion, down 9.9%, and diluted earnings per share $1.93. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$6.3 billion
-3.4% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$1.5 billion
-9.9% on the year
FY2009FY2016
Diluted EPS
$1.93
-4.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
6,311
6,536
6,052
-3.4%
Interest expense
578
495
451
+16.8%
Pre-tax income
2,208
2,365
2,028
-6.6%
Income tax
665
659
545
+0.9%
Effective tax rate
30.1%
27.9%
26.9%
Net income
1,543
1,712
1,481
-9.9%
Net margin
24.4%
26.2%
24.5%
Diluted EPS
$1.93
$2.01
$1.66
-4.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,091
2,418
2,076
-13.5%
Capital expenditure
186
164
216
+13.4%
Free cash flow
1,905
2,254
1,860
-15.5%
Depreciation and amortisation
453
441
414
+2.7%
Share-based compensation
111
100
83.0
+11.0%
Buybacks
661
850
654
-22.2%
Dividends paid
402
422
423
-4.7%
Dividend per share
$0.53
$0.52
$0.51
+1.9%
Diluted shares, weighted
764m
808m
843m
-5.3%
Shares outstanding at period end
750m
785m
824m
-4.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
16,205
15,839
15,626
+2.3%
Non-controlling interest
27.0
31.0
39.0
-12.9%
Deposits
103,821
103,205
101,712
+0.6%
Debt
18,055
17,468
16,667
+3.4%
Other liabilities
4,069
4,539
4,662
-10.4%
Total liabilities and equity
142,177
141,082
138,706
+0.8%
Fixed assets
2,065
2,239
2,465
-7.8%
Goodwill
2,416
2,416
2,416
0.0%
Intangible assets
9.0
12.0
15.0
-25.0%
Securities held for sale or to maturity
26.0
70.0
187
-62.9%
Loans
90,845
91,310
88,762
-0.5%
Trading assets
410
386
360
+6.2%
Other assets
46,406
44,649
44,501
+3.9%
Total assets
142,177
141,082
138,706
+0.8%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.