Bank of New York Mellon (BNY) FY2023 results: revenue $17.7 billion, up 7.1% on the year
Bank of New York Mellon Corp. (BNY) reported revenue of $17.7 billion for fiscal 2023, the year ended 31 December 2023, up 7.1% on the year before. Net income was $3.3 billion, up 29.2%, and diluted earnings per share $3.87. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$17.7 billion
+7.1% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$3.3 billion
+29.2% on the year
FY2016FY2023
Diluted EPS
$3.87
+33.4% 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
5,912
15,068
2,838
-60.8%
Capital expenditure
1,220
1,346
1,215
-9.4%
Free cash flow
4,692
13,722
1,623
-65.8%
Cash from investing
-5,810
19,874
19,672
Cash from financing
-3,519
-33,654
-21,962
Depreciation and amortisation
1,887
1,778
1,867
+6.1%
Share-based compensation
0.0
n/a
n/a
Buybacks
2,604
124
4,567
+2,000.0%
Dividends paid
1,262
1,165
1,126
+8.3%
Dividend per share
$1.58
$1.42
$1.30
+11.3%
Diluted shares, weighted
788m
815m
856m
-3.3%
Shares outstanding at period end
759m
808m
804m
-6.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
40,770
40,734
43,034
+0.1%
Non-controlling interest
50.0
7.0
196
+614.3%
Redeemable equity
85.0
109
161
-22.0%
Deposits
283,669
278,970
319,694
+1.7%
Repurchase agreements
14,507
12,335
11,566
+17.6%
Trading liabilities
6,226
5,385
5,469
+15.6%
Debt
46,243
43,190
38,246
+7.1%
Other liabilities
18,403
25,053
26,072
-26.5%
Total liabilities and equity
409,953
405,783
444,438
+1.0%
Fixed assets
3,163
3,256
3,431
-2.9%
Goodwill
16,261
16,150
17,512
+0.7%
Intangible assets
2,854
2,901
2,991
-1.6%
Securities held for sale or to maturity
126,395
142,816
158,705
-11.5%
Loans
66,576
n/a
n/a
Resale agreements
28,900
24,298
29,607
+18.9%
Securities borrowed
10,475
9,006
11,655
+16.3%
Trading assets
10,058
9,908
16,577
+1.5%
Cash and equivalents
4,922
5,030
6,061
-2.1%
Other assets
140,349
192,418
197,899
-27.1%
Total assets
409,953
405,783
444,438
+1.0%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.