State Street (STT) FY2016 results: revenue $10.3 billion, down 0.7% on the year
State Street Corp. (STT) reported revenue of $10.3 billion for fiscal 2016, the year ended 31 December 2016, down 0.7% on the year before. Net income was $2.1 billion, up 8.0%, and diluted earnings per share $4.97. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$10.3 billion
-0.7% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$2.1 billion
+8.0% on the year
FY2009FY2016
Diluted EPS
$4.97
+11.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
10,291
10,360
10,274
-0.7%
Interest expense
428
400
392
+7.0%
Pre-tax income
2,204
2,298
2,437
-4.1%
Income tax
67.0
318
415
-78.9%
Effective tax rate
3.0%
13.8%
17.0%
Net income
2,138
1,980
2,022
+8.0%
Net margin
20.8%
19.1%
19.7%
Diluted EPS
$4.97
$4.47
$4.53
+11.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,290
-1,403
-561
Capital expenditure
613
703
427
-12.8%
Free cash flow
1,677
-2,106
-988
Cash from investing
4,230
24,995
-28,492
-83.1%
Cash from financing
-6,413
-24,240
27,688
Depreciation and amortisation
679
640
639
+6.1%
Share-based compensation
268
319
329
-16.0%
Buybacks
1,365
1,520
1,650
-10.2%
Dividends paid
723
655
539
+10.4%
Dividend per share
$1.44
$1.32
$1.16
+9.1%
Diluted shares, weighted
396m
414m
432m
-4.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
21,219
21,103
21,328
+0.5%
Non-controlling interest
0.0
32.0
0.0
Deposits
187,163
191,627
209,040
-2.3%
Debt
17,415
17,750
23,369
-1.9%
Other liabilities
16,901
14,680
20,382
+15.1%
Total liabilities and equity
242,698
245,192
274,119
-1.0%
Fixed assets
2,062
1,894
1,937
+8.9%
Goodwill
5,814
5,671
5,826
+2.5%
Intangible assets
1,750
1,768
2,025
-1.0%
Securities held for sale or to maturity
96,697
99,419
17,723
-2.7%
Loans
19,704
18,753
18,161
+5.1%
Trading assets
1,024
849
924
+20.6%
Cash and equivalents
1,204
n/a
n/a
Other assets
114,443
116,838
227,523
-2.0%
Total assets
242,698
245,192
274,119
-1.0%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.