Fifth Third Bancorp (FITB) FY2019 results: revenue $8.3 billion, up 20.2% on the year
Fifth Third Bancorp (FITB) reported revenue of $8.3 billion for fiscal 2019, the year ended 31 December 2019, up 20.2% on the year before. Net income was $2.5 billion, up 14.5%, and diluted earnings per share $3.33. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$8.3 billion
+20.2% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$2.5 billion
+14.5% on the year
FY2012FY2019
Diluted EPS
$3.33
+8.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
8,333
6,930
7,022
+20.2%
Interest expense
1,457
1,043
691
+39.7%
Pre-tax income
3,202
2,765
2,979
+15.8%
Income tax
690
572
799
+20.6%
Effective tax rate
21.5%
20.7%
26.8%
Net income
2,512
2,193
2,180
+14.5%
Net margin
30.1%
31.6%
31.0%
Diluted EPS
$3.33
$3.06
$2.81
+8.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,824
2,856
1,480
-36.1%
Capital expenditure
243
192
200
+26.6%
Free cash flow
1,581
2,664
1,280
-40.7%
Cash from investing
-797
-4,141
428
Cash from financing
-430
1,452
-1,786
Depreciation and amortisation
472
360
341
+31.1%
Share-based compensation
132
127
118
+3.9%
Buybacks
1,763
1,453
1,605
+21.3%
Dividends paid
660
467
430
+41.3%
Dividend per share
$0.94
$0.74
$0.60
+27.0%
Diluted shares, weighted
720m
685m
741m
+5.0%
Shares outstanding at period end
709m
647m
694m
+9.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
21,203
16,250
16,200
+30.5%
Non-controlling interest
0.0
0.0
20.0
Deposits
127,062
108,835
103,162
+16.7%
Debt
16,241
16,924
19,090
-4.0%
Other liabilities
4,863
4,060
3,721
+19.8%
Total liabilities and equity
169,369
146,069
142,193
+16.0%
Fixed assets
1,995
1,861
2,003
+7.2%
Goodwill
4,252
2,478
2,445
+71.6%
Intangible assets
201
40.0
27.0
+402.5%
Securities held for sale or to maturity
36,045
18.0
24.0
+200,150.0%
Loans
108,356
94,162
90,774
+15.1%
Trading assets
297
287
492
+3.5%
Cash and equivalents
3,278
2,681
n/a
+22.3%
Other assets
14,945
44,542
46,428
-66.4%
Total assets
169,369
146,069
142,193
+16.0%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.