State Street (STT) FY2013 results: revenue $9.9 billion, up 2.2% on the year
State Street Corp. (STT) reported revenue of $9.9 billion for fiscal 2013, the year ended 31 December 2013, up 2.2% on the year before. Net income was $2.0 billion, down 0.5%, and diluted earnings per share $4.43. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$9.9 billion
+2.2% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$2.0 billion
-0.5% on the year
FY2007FY2013
Diluted EPS
$4.43
+5.5% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
9,864
9,649
9,594
+2.2%
Interest expense
411
476
613
-13.7%
Pre-tax income
2,666
2,766
2,536
-3.6%
Income tax
616
705
616
-12.6%
Effective tax rate
23.1%
25.5%
24.3%
Net income
2,050
2,061
1,920
-0.5%
Net margin
20.8%
21.4%
20.0%
Diluted EPS
$4.43
$4.20
$3.79
+5.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
-2,024
1,933
3,374
Capital expenditure
388
355
298
+9.3%
Free cash flow
-2,412
1,578
3,076
Cash from investing
-14,085
-4,591
-53,895
Cash from financing
16,739
3,055
49,403
+447.9%
Depreciation and amortisation
615
605
608
+1.7%
Share-based compensation
355
353
261
+0.6%
Buybacks
2,040
1,440
675
+41.7%
Dividends paid
486
463
295
+5.0%
Dividend per share
$1.04
$0.96
$0.72
+8.3%
Diluted shares, weighted
455m
481m
496m
-5.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
20,248
20,825
19,398
-2.8%
Deposits
182,268
164,181
157,287
+11.0%
Debt
21,451
20,336
22,125
+5.5%
Other liabilities
19,324
17,240
18,017
+12.1%
Total liabilities and equity
243,291
222,582
216,827
+9.3%
Fixed assets
1,860
1,728
1,747
+7.6%
Goodwill
6,036
5,977
5,645
+1.0%
Intangible assets
2,360
2,539
2,459
-7.1%
Securities held for sale or to maturity
17,740
11,379
9,321
+55.9%
Loans
13,458
12,285
10,031
+9.5%
Trading assets
843
637
n/a
+32.3%
Other assets
200,994
188,037
187,624
+6.9%
Total assets
243,291
222,582
216,827
+9.3%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.