Fifth Third Bancorp (FITB) FY2023 results: revenue $8.7 billion, up 4.0% on the year
Fifth Third Bancorp (FITB) reported revenue of $8.7 billion for fiscal 2023, the year ended 31 December 2023, up 4.0% on the year before. Net income was $2.3 billion, down 4.0%, and diluted earnings per share $3.22. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$8.7 billion
+4.0% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$2.3 billion
-4.0% on the year
FY2016FY2023
Diluted EPS
$3.22
-3.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,509
6,428
2,704
-29.9%
Capital expenditure
491
348
309
+41.1%
Free cash flow
4,018
6,080
2,395
-33.9%
Cash from investing
-9,488
-4,871
-7,968
Cash from financing
4,655
-1,085
5,111
Depreciation and amortisation
462
436
349
+6.0%
Share-based compensation
169
165
120
+2.4%
Buybacks
200
100
1,393
+100.0%
Dividends paid
1,060
927
897
+14.3%
Dividend per share
$1.36
$1.26
$1.14
+7.9%
Diluted shares, weighted
688m
695m
711m
-1.0%
Shares outstanding at period end
681m
683m
683m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
19,172
17,327
22,210
+10.6%
Deposits
168,912
163,690
169,324
+3.2%
Debt
19,434
18,732
13,082
+3.7%
Other liabilities
7,056
7,703
6,500
-8.4%
Total liabilities and equity
214,574
207,452
211,116
+3.4%
Fixed assets
2,349
2,187
2,120
+7.4%
Goodwill
4,919
4,915
4,514
+0.1%
Intangible assets
125
169
156
-26.0%
Securities held for sale or to maturity
50,421
51,508
38,118
-2.1%
Loans
114,912
119,286
110,158
-3.7%
Cash and equivalents
3,142
3,466
2,994
-9.3%
Other assets
38,706
25,921
53,056
+49.3%
Total assets
214,574
207,452
211,116
+3.4%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.