State Street (STT) FY2011 results: revenue $9.6 billion, up 7.2% on the year
State Street Corp. (STT) reported revenue of $9.6 billion for fiscal 2011, the year ended 31 December 2011, up 7.2% on the year before. Net income was $1.9 billion, up 23.4%, and diluted earnings per share $3.79. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$9.6 billion
+7.2% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$1.9 billion
+23.4% on the year
FY2007FY2011
Diluted EPS
$3.79
+22.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
9,594
8,953
8,640
+7.2%
Interest expense
613
763
722
-19.7%
Pre-tax income
2,536
2,086
2,525
+21.6%
Income tax
616
530
722
+16.2%
Effective tax rate
24.3%
25.4%
28.6%
Net income
1,920
1,556
-1,881
+23.4%
Net margin
20.0%
17.4%
-21.8%
Diluted EPS
$3.79
$3.09
-$4.31
+22.7%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,374
823
-4,231
+310.0%
Capital expenditure
298
262
325
+13.7%
Free cash flow
3,076
561
-4,556
+448.3%
Cash from investing
-53,895
3,192
31,632
Cash from financing
49,403
-3,345
-27,941
Depreciation and amortisation
608
552
516
+10.1%
Share-based compensation
261
229
n/a
+14.0%
Buybacks
675
0.0
0.0
Dividends paid
295
20.0
168
+1,375.0%
Dividend per share
$0.72
$0.04
$0.04
+1,700.0%
Diluted shares, weighted
496m
498m
474m
-0.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
19,398
17,787
14,491
+9.1%
Deposits
157,287
98,345
90,062
+59.9%
Debt
22,125
31,099
8,838
-28.9%
Other liabilities
18,017
13,274
44,555
+35.7%
Total liabilities and equity
216,827
160,505
157,946
+35.1%
Fixed assets
1,747
1,802
1,953
-3.1%
Goodwill
5,645
5,597
4,550
+0.9%
Intangible assets
2,459
2,593
1,810
-5.2%
Securities held for sale or to maturity
9,321
12,249
20,877
-23.9%
Loans
10,031
11,857
10,729
-15.4%
Other assets
187,624
126,407
118,027
+48.4%
Total assets
216,827
160,505
157,946
+35.1%
10-K for the year ended 31 December 2011, filed 21 February 2014: the filing.