Fifth Third Bancorp (FITB) FY2017 results: revenue $7.0 billion, up 11.3% on the year
Fifth Third Bancorp (FITB) reported revenue of $7.0 billion for fiscal 2017, the year ended 31 December 2017, up 11.3% on the year before. Net income was $2.2 billion, up 41.3%, and diluted earnings per share $2.81. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$7.0 billion
+11.3% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.2 billion
+41.3% on the year
FY2010FY2017
Diluted EPS
$2.81
+45.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,022
6,311
6,536
+11.3%
Interest expense
691
578
495
+19.6%
Pre-tax income
2,979
2,208
2,365
+34.9%
Income tax
799
665
659
+20.2%
Effective tax rate
26.8%
30.1%
27.9%
Net income
2,180
1,543
1,712
+41.3%
Net margin
31.0%
24.4%
26.2%
Diluted EPS
$2.81
$1.93
$2.01
+45.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,480
2,091
2,418
-29.2%
Capital expenditure
200
186
164
+7.5%
Free cash flow
1,280
1,905
2,254
-32.8%
Cash from investing
428
n/a
n/a
Cash from financing
-1,786
n/a
n/a
Depreciation and amortisation
341
453
441
-24.7%
Share-based compensation
118
111
100
+6.3%
Buybacks
1,605
661
850
+142.8%
Dividends paid
430
402
422
+7.0%
Dividend per share
$0.60
$0.53
$0.52
+13.2%
Diluted shares, weighted
741m
764m
808m
-3.1%
Shares outstanding at period end
694m
750m
785m
-7.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
16,200
16,205
15,839
-0.0%
Non-controlling interest
20.0
27.0
31.0
-25.9%
Deposits
103,162
103,821
103,205
-0.6%
Debt
19,090
18,055
17,468
+5.7%
Other liabilities
3,721
4,069
4,539
-8.6%
Total liabilities and equity
142,193
142,177
141,082
+0.0%
Fixed assets
2,003
2,065
2,239
-3.0%
Goodwill
2,445
2,416
2,416
+1.2%
Intangible assets
27.0
9.0
12.0
+200.0%
Securities held for sale or to maturity
24.0
26.0
70.0
-7.7%
Loans
90,774
90,845
91,310
-0.1%
Trading assets
492
410
386
+20.0%
Other assets
46,428
46,406
44,649
+0.0%
Total assets
142,193
142,177
141,082
+0.0%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.