Bank of New York Mellon (BNY) FY2017 results: revenue $15.5 billion, up 2.2% on the year
Bank of New York Mellon Corp. (BNY) reported revenue of $15.5 billion for fiscal 2017, the year ended 31 December 2017, up 2.2% on the year before. Net income was $4.1 billion, up 15.3%, and diluted earnings per share $3.72. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$15.5 billion
+2.2% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$4.1 billion
+15.3% on the year
FY2010FY2017
Diluted EPS
$3.72
+18.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
15,543
15,211
15,126
+2.2%
Interest expense
1,074
437
300
+145.8%
Pre-tax income
n/a
n/a
4,171
Income tax
496
1,177
1,013
-57.9%
Effective tax rate
n/a
n/a
24.3%
Net income
4,090
3,547
3,158
+15.3%
Net margin
26.3%
23.3%
20.9%
Diluted EPS
$3.72
$3.15
$2.71
+18.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,667
6,267
4,127
-25.5%
Capital expenditure
1,197
825
601
+45.1%
Free cash flow
3,470
5,442
3,526
-36.2%
Cash from investing
-32,705
50,284
-19,787
Cash from financing
26,780
-59,050
15,185
Depreciation and amortisation
1,474
1,502
1,457
-1.9%
Buybacks
2,686
2,398
2,355
+12.0%
Dividends paid
901
778
760
+15.8%
Dividend per share
$0.86
$0.72
$0.68
+19.4%
Diluted shares, weighted
1,040m
1,072m
1,113m
-3.0%
Shares outstanding at period end
1,013m
1,047m
1,085m
-3.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
41,251
38,811
38,037
+6.3%
Non-controlling interest
316
618
738
-48.9%
Redeemable equity
179
151
200
+18.5%
Debt
49,245
35,206
37,072
+39.9%
Other liabilities
280,767
258,683
317,733
+8.5%
Total liabilities and equity
371,758
333,469
393,780
+11.5%
Goodwill
17,564
17,316
17,618
+1.4%
Intangible assets
3,411
3,598
3,842
-5.2%
Securities held for sale or to maturity
120,370
114,727
119,179
+4.9%
Securities borrowed
11,199
8,694
7,630
+28.8%
Cash and equivalents
5,382
4,822
6,537
+11.6%
Other assets
213,832
184,312
238,974
+16.0%
Total assets
371,758
333,469
393,780
+11.5%
10-K for the year ended 31 December 2017, filed 27 February 2020: the filing.