State Street (STT) FY2012 results: revenue $9.6 billion, up 0.6% on the year
State Street Corp. (STT) reported revenue of $9.6 billion for fiscal 2012, the year ended 31 December 2012, up 0.6% on the year before. Net income was $2.1 billion, up 7.3%, and diluted earnings per share $4.20. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$9.6 billion
+0.6% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$2.1 billion
+7.3% on the year
FY2007FY2012
Diluted EPS
$4.20
+10.8% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
9,649
9,594
8,953
+0.6%
Interest expense
476
613
763
-22.3%
Pre-tax income
2,766
2,536
2,086
+9.1%
Income tax
705
616
530
+14.4%
Effective tax rate
25.5%
24.3%
25.4%
Net income
2,061
1,920
1,556
+7.3%
Net margin
21.4%
20.0%
17.4%
Diluted EPS
$4.20
$3.79
$3.09
+10.8%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,933
3,374
823
-42.7%
Capital expenditure
355
298
262
+19.1%
Free cash flow
1,578
3,076
561
-48.7%
Cash from investing
-4,591
-53,895
3,192
Cash from financing
3,055
49,403
-3,345
-93.8%
Depreciation and amortisation
605
608
552
-0.5%
Share-based compensation
353
261
229
+35.2%
Buybacks
1,440
675
0.0
+113.3%
Dividends paid
463
295
20.0
+56.9%
Dividend per share
$0.96
$0.72
$0.04
+33.3%
Diluted shares, weighted
481m
496m
498m
-3.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
20,825
19,398
17,787
+7.4%
Deposits
164,181
157,287
98,345
+4.4%
Debt
20,336
22,125
31,099
-8.1%
Other liabilities
17,240
18,017
13,274
-4.3%
Total liabilities and equity
222,582
216,827
160,505
+2.7%
Fixed assets
1,728
1,747
1,802
-1.1%
Goodwill
5,977
5,645
5,597
+5.9%
Intangible assets
2,539
2,459
2,593
+3.3%
Securities held for sale or to maturity
11,379
9,321
12,249
+22.1%
Loans
12,285
10,031
11,857
+22.5%
Trading assets
637
n/a
n/a
Other assets
188,037
187,624
126,407
+0.2%
Total assets
222,582
216,827
160,505
+2.7%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.