Bank of New York Mellon (BNY) FY2018 results: revenue $16.4 billion, up 5.5% on the year
Bank of New York Mellon Corp. (BNY) reported revenue of $16.4 billion for fiscal 2018, the year ended 31 December 2018, up 5.5% on the year before. Net income was $4.3 billion, up 4.3%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$16.4 billion
+5.5% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$4.3 billion
+4.3% on the year
FY2011FY2018
Diluted EPS
$4.04
+8.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
16,392
15,543
15,211
+5.5%
Interest expense
2,821
1,074
437
+162.7%
Income tax
938
496
1,177
+89.1%
Net income
4,266
4,090
3,547
+4.3%
Net margin
26.0%
26.3%
23.3%
Diluted EPS
$4.04
$3.72
$3.15
+8.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,996
4,667
6,267
+28.5%
Capital expenditure
1,108
1,197
825
-7.4%
Free cash flow
4,888
3,470
5,442
+40.9%
Cash from investing
3,299
-32,705
50,284
Cash from financing
-8,098
26,780
-59,050
Depreciation and amortisation
1,339
1,474
1,502
-9.2%
Buybacks
3,269
2,686
2,398
+21.7%
Dividends paid
1,052
901
778
+16.8%
Dividend per share
$1.04
$0.86
$0.72
+20.9%
Diluted shares, weighted
1,007m
1,040m
1,072m
-3.2%
Shares outstanding at period end
960m
1,013m
1,047m
-5.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
40,638
41,251
38,811
-1.5%
Non-controlling interest
101
316
618
-68.0%
Redeemable equity
129
179
151
-27.9%
Debt
48,572
49,245
35,206
-1.4%
Other liabilities
273,433
280,767
258,683
-2.6%
Total liabilities and equity
362,873
371,758
333,469
-2.4%
Goodwill
17,350
17,564
17,316
-1.2%
Intangible assets
3,220
3,411
3,598
-5.6%
Securities held for sale or to maturity
119,791
120,370
114,727
-0.5%
Securities borrowed
10,588
11,199
8,694
-5.5%
Cash and equivalents
5,864
5,382
4,822
+9.0%
Other assets
206,060
213,832
184,312
-3.6%
Total assets
362,873
371,758
333,469
-2.4%
10-K for the year ended 31 December 2018, filed 27 February 2020: the filing.