Fifth Third Bancorp (FITB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-179.9%

-$43.90

vs $54.93 price

Levered DCF

$83.69

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.33

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.19×	13.38×	10.68×	9.71×	11.52×	14.98×	9.09×	7.57×
P/B	1.43×	1.47×	1.23×	1.3×	1.38×	0.85×	1.03×	0.98×
P/S	2.42×	2.21×	1.91×	2.49×	3.85×	2.45×	2.53×	2.22×
EV / EBITDA	11.19×	13.13×	11.56×	10.69×	10.41×	14.22×	9.32×	9.54×
Gross margin	65.3%	59.2%	64.0%	83.0%	99.2%	76.5%	77.6%	82.5%
Operating margin	24.9%	22.3%	24.2%	34.1%	44.3%	22.4%	37.1%	38.7%
Net margin	19.6%	17.7%	19.0%	26.9%	34.9%	17.8%	29.1%	30.7%
Current ratio	0.82×	0.38×	0.47×	0.41×	0.48×	0.5×	0.36×	0.38×
Debt / equity	0.67×	0.97×	1.01×	1.07×	0.57×	0.69×	0.74×	1.02×
Interest coverage	0.82×	0.61×	0.76×	3.16×	7.98×	2.27×	2.2×	2.65×
Dividend yield	3.7%	4.1%	4.5%	4.1%	2.9%	4.4%	3.4%	3.6%
Payout ratio	46.1%	50.8%	45.1%	37.9%	32.4%	60.1%	30.0%	25.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	11.8%	12.3%	14.1%	12.5%	6.2%	11.8%	13.5%
Return on invested capital	8.9%	5.1%	5.1%	5.6%	6.6%	3.1%	6.3%	6.1%
Return on assets	1.2%	1.1%	1.1%	1.2%	1.3%	0.7%	1.5%	1.5%
Free cash flow yield	12.2%	8.4%	16.9%	25.4%	7.8%	0.1%	7.0%	16.8%
Earnings yield	8.1%	8.0%	10.0%	10.8%	9.1%	7.2%	11.5%	13.8%
Enterprise value	$42.1B	$44.8B	$39.9B	$37.7B	$40.2B	$32.5B	$34.3B	$29.8B
Net debt / EBITDA	2.93×	4.68×	4.72×	4.29×	2.5×	5.61×	3.38×	4.47×
Cash conversion cycle (days)	-10,627	182	165	250	304	272	272	309