State Street (STT) FY2017 results: revenue $11.3 billion, up 9.5% on the year
State Street Corp. (STT) reported revenue of $11.3 billion for fiscal 2017, the year ended 31 December 2017, up 9.5% on the year before. Net income was $2.2 billion, up 0.8%, and diluted earnings per share $5.24. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$11.3 billion
+9.5% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.2 billion
+0.8% on the year
FY2010FY2017
Diluted EPS
$5.24
+5.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
11,266
10,291
10,360
+9.5%
Interest expense
604
428
400
+41.1%
Pre-tax income
2,995
2,204
2,298
+35.9%
Income tax
839
67.0
318
+1,152.2%
Effective tax rate
28.0%
3.0%
13.8%
Net income
2,156
2,138
1,980
+0.8%
Net margin
19.1%
20.8%
19.1%
Diluted EPS
$5.24
$4.97
$4.47
+5.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
6,933
2,290
-1,403
+202.8%
Capital expenditure
637
613
703
+3.9%
Free cash flow
6,296
1,677
-2,106
+275.4%
Cash from investing
48.0
4,230
24,995
-98.9%
Cash from financing
-6,188
-6,413
-24,240
Depreciation and amortisation
740
679
640
+9.0%
Share-based compensation
243
268
319
-9.3%
Buybacks
1,292
1,365
1,520
-5.3%
Dividends paid
768
723
655
+6.2%
Dividend per share
$1.60
$1.44
$1.32
+11.1%
Diluted shares, weighted
380m
396m
414m
-4.0%
Shares outstanding at period end
368m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
22,270
21,219
21,103
+5.0%
Non-controlling interest
n/a
0.0
32.0
Deposits
184,896
187,163
191,627
-1.2%
Debt
15,606
17,415
17,750
-10.4%
Other liabilities
15,653
16,901
14,680
-7.4%
Total liabilities and equity
238,425
242,698
245,192
-1.8%
Fixed assets
2,186
2,062
1,894
+6.0%
Goodwill
6,022
5,814
5,671
+3.6%
Intangible assets
1,613
1,750
1,768
-7.8%
Securities held for sale or to maturity
97,579
96,697
99,419
+0.9%
Loans
23,240
19,704
18,753
+17.9%
Trading assets
1,093
1,024
849
+6.7%
Cash and equivalents
2,004
1,204
n/a
+66.4%
Other assets
104,688
114,443
116,838
-8.5%
Total assets
238,425
242,698
245,192
-1.8%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.