Fifth Third Bancorp (FITB) FY2020 results: revenue $7.6 billion, down 8.7% on the year
Fifth Third Bancorp (FITB) reported revenue of $7.6 billion for fiscal 2020, the year ended 31 December 2020, down 8.7% on the year before. Net income was $1.4 billion, down 43.2%, and diluted earnings per share $1.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$7.6 billion
-8.7% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$1.4 billion
-43.2% on the year
FY2013FY2020
Diluted EPS
$1.83
-45.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
7,612
8,333
6,930
-8.7%
Interest expense
790
1,457
1,043
-45.8%
Pre-tax income
1,797
3,202
2,765
-43.9%
Income tax
370
690
572
-46.4%
Effective tax rate
20.6%
21.5%
20.7%
Net income
1,427
2,512
2,193
-43.2%
Net margin
18.7%
30.1%
31.6%
Diluted EPS
$1.83
$3.33
$3.06
-45.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
371
1,824
2,856
-79.7%
Capital expenditure
305
243
192
+25.5%
Free cash flow
66.0
1,581
2,664
-95.8%
Cash from investing
-31,902
-797
-4,141
Cash from financing
31,400
-430
1,452
Depreciation and amortisation
492
472
360
+4.2%
Share-based compensation
123
132
127
-6.8%
Buybacks
0.0
1,763
1,453
Dividends paid
858
660
467
+30.0%
Dividend per share
$1.08
$0.94
$0.74
+14.9%
Diluted shares, weighted
720m
720m
685m
-0.0%
Shares outstanding at period end
713m
709m
647m
+0.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
23,111
21,203
16,250
+9.0%
Non-controlling interest
n/a
0.0
0.0
Deposits
159,081
127,062
108,835
+25.2%
Debt
16,465
16,241
16,924
+1.4%
Other liabilities
6,023
4,863
4,060
+23.9%
Total liabilities and equity
204,680
169,369
146,069
+20.8%
Fixed assets
2,088
1,995
1,861
+4.7%
Goodwill
4,258
4,252
2,478
+0.1%
Intangible assets
139
201
40.0
-30.8%
Securities held for sale or to maturity
37,524
36,045
18.0
+4.1%
Loans
106,329
108,356
94,162
-1.9%
Trading assets
n/a
297
287
Cash and equivalents
3,147
3,278
2,681
-4.0%
Other assets
51,195
14,945
44,542
+242.6%
Total assets
204,680
169,369
146,069
+20.8%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.