What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Fifth Third Bank (FITB) revenue becomes net income?

For TTM through Q1 2026, Fifth Third Bank turned $13.66B of revenue into $2.17B of net income — a net margin of 15.9%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Fifth Third Bank (FITB) gross, operating, and net margins?

For TTM through Q1 2026, Fifth Third Bank reported a gross margin of 66.6%, an operating margin of 20.2%, and a net margin of 15.9%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Fifth Third Bank (FITB) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Fifth Third Bank (FITB) Income Statement Waterfall

Revenue

$13.66B

Gross Margin

+66.6%

Operating Margin

+20.2%

Net Margin

+15.9%

Income statement waterfall for Fifth Third Bank (FITB) — TTM through Q1 2026

Net income: $2.17B

Margin breakdown for Fifth Third Bank (FITB) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$13.66B	$13.66B
Cost of Revenue	−$4.56B	$9.10B
Gross Profit	$9.10B	$9.10B
Operating Expenses	−$6.33B	$2.76B
Operating Income	$2.76B	$2.76B
Pre-tax Income	$2.76B	$2.76B
Income Tax	−$591.00M	$2.17B
Net Income	$2.17B	$2.17B

Revenue$13.66B
Cost of Revenue−$4.56B
Gross Profit$9.10B
Operating Expenses−$6.33B
Operating Income$2.76B
Pre-tax Income$2.76B
Income Tax−$591.00M
Net Income$2.17B

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Fifth Third Bank (FITB) Key Financials

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Income statement waterfall for Fifth Third Bank (FITB) — TTM through Q1 2026

Margin breakdown for Fifth Third Bank (FITB) — TTM through Q1 2026

Frequently asked questions

+What is an income statement waterfall?

+How much of Fifth Third Bank (FITB) revenue becomes net income?

+What are Fifth Third Bank (FITB) gross, operating, and net margins?

+Why does Fifth Third Bank (FITB) have such a high (or low) gross margin?

+What is the difference between gross, operating, and net margin?

Data & methodology

+What is this view?

+How to read this waterfall

+How is the data calculated?

+What is the USD toggle?

Fifth Third Bank (FITB) Key Financials

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