State Street (STT) FY2018 results: revenue $12.1 billion, up 7.7% on the year
State Street Corp. (STT) reported revenue of $12.1 billion for fiscal 2018, the year ended 31 December 2018, up 7.7% on the year before. Net income was $2.6 billion, up 20.3%, and diluted earnings per share $6.40. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$12.1 billion
+7.7% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$2.6 billion
+20.3% on the year
FY2011FY2018
Diluted EPS
$6.40
+22.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
12,131
11,266
10,291
+7.7%
Interest expense
991
604
428
+64.1%
Pre-tax income
3,101
2,995
2,204
+3.5%
Income tax
508
839
67.0
-39.5%
Effective tax rate
16.4%
28.0%
3.0%
Net income
2,593
2,156
2,138
+20.3%
Net margin
21.4%
19.1%
20.8%
Diluted EPS
$6.40
$5.24
$4.97
+22.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
10,175
6,933
2,290
+46.8%
Capital expenditure
609
637
613
-4.4%
Free cash flow
9,566
6,296
1,677
+51.9%
Cash from investing
-4,496
48.0
4,230
Cash from financing
-4,471
-6,188
-6,413
Depreciation and amortisation
825
740
679
+11.5%
Share-based compensation
262
243
268
+7.8%
Buybacks
350
1,292
1,365
-72.9%
Dividends paid
828
768
723
+7.8%
Dividend per share
$1.78
$1.60
$1.44
+11.2%
Diluted shares, weighted
376m
380m
396m
-1.0%
Shares outstanding at period end
380m
368m
n/a
+3.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
24,737
22,270
21,219
+11.1%
Non-controlling interest
n/a
n/a
0.0
Deposits
180,360
184,896
187,163
-2.5%
Debt
15,267
15,606
17,415
-2.2%
Other liabilities
24,262
15,653
16,901
+55.0%
Total liabilities and equity
244,626
238,425
242,698
+2.6%
Fixed assets
2,214
2,186
2,062
+1.3%
Goodwill
7,446
6,022
5,814
+23.6%
Intangible assets
2,369
1,613
1,750
+46.9%
Securities held for sale or to maturity
87,062
97,579
96,697
-10.8%
Loans
25,722
23,240
19,704
+10.7%
Trading assets
860
1,093
1,024
-21.3%
Cash and equivalents
3,212
2,004
1,204
+60.3%
Other assets
115,741
104,688
114,443
+10.6%
Total assets
244,626
238,425
242,698
+2.6%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.