State Street (STT) FY2015 results: revenue $10.4 billion, up 0.8% on the year
State Street Corp. (STT) reported revenue of $10.4 billion for fiscal 2015, the year ended 31 December 2015, up 0.8% on the year before. Net income was $2.0 billion, down 2.1%, and diluted earnings per share $4.47. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$10.4 billion
+0.8% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$2.0 billion
-2.1% on the year
FY2008FY2015
Diluted EPS
$4.47
-1.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
10,360
10,274
9,864
+0.8%
Interest expense
400
392
411
+2.0%
Pre-tax income
2,298
2,437
2,666
-5.7%
Income tax
318
415
616
-23.4%
Effective tax rate
13.8%
17.0%
23.1%
Net income
1,980
2,022
2,050
-2.1%
Net margin
19.1%
19.7%
20.8%
Diluted EPS
$4.47
$4.53
$4.43
-1.3%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
-1,403
-561
-2,024
Capital expenditure
703
427
388
+64.6%
Free cash flow
-2,106
-988
-2,412
Cash from investing
24,995
-28,492
-14,085
Cash from financing
-24,240
27,688
16,739
Depreciation and amortisation
640
639
615
+0.2%
Share-based compensation
319
329
355
-3.0%
Buybacks
1,520
1,650
2,040
-7.9%
Dividends paid
655
539
486
+21.5%
Dividend per share
$1.32
$1.16
$1.04
+13.8%
Diluted shares, weighted
414m
432m
455m
-4.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
21,103
21,328
20,248
-1.1%
Non-controlling interest
32.0
0.0
n/a
Deposits
191,627
209,040
182,268
-8.3%
Debt
17,750
23,369
21,451
-24.0%
Other liabilities
14,680
20,382
19,324
-28.0%
Total liabilities and equity
245,192
274,119
243,291
-10.6%
Fixed assets
1,894
1,937
1,860
-2.2%
Goodwill
5,671
5,826
6,036
-2.7%
Intangible assets
1,768
2,025
2,360
-12.7%
Securities held for sale or to maturity
99,419
17,723
17,740
+461.0%
Loans
18,753
18,161
13,458
+3.3%
Trading assets
849
924
843
-8.1%
Other assets
116,838
227,523
200,994
-48.6%
Total assets
245,192
274,119
243,291
-10.6%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.