BK Q3 2023 Earnings Report — The Bank of New York Mellon Corporation Revenue & Financial Results | Market Cap Arena

The Bank of New York Mellon CorporationBK

Q3 2023 Earnings

Reported November 3, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2023	Q2 2023	Q3 2022	QoQ Change	YoY Change
Revenue	$8.8B	$8.5B	$5.2B	3.5%	69.5%
Op. Income	$1.3B	$1.4B	$630M	-4.3%	110.8%
Gross Margin	49.0%	51.6%	80.3%	-2.6pp	-31.3pp
Net Margin	11.8%	12.6%	7.4%	-0.8pp	4.3pp
EPS (Diluted)	$1.22	$1.31	$0.39	-6.9%	212.8%
Free Cash Flow	$4.7B	$794M	$3.6B	492.4%	30.4%

Revenue Flow

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$4.5B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.3B
Operating Expenses	$3.0B
Cost & Expenses	$7.5B
OPERATING INCOME	$1.3B
Interest Income	$5.5B
Interest Expense	$4.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$285M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$958M
D&A	$426M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$4.5B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.3B
Operating Expenses	$3.0B
Cost & Expenses	$7.5B
OPERATING INCOME	$1.3B
Interest Income	$5.5B
Interest Expense	$4.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$285M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$958M
D&A	$426M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$426M
Stock-Based Compensation	$0
Deferred Income Tax	-$64M
Other Non-Cash Items	$21M
Change in Working Capital	$3.6B
OPERATING CASH FLOW	$5.0B
Capital Expenditure	-$336M
Acquisitions (Net)	$15.7B
Purchases of Investments	-$2.9B
Sales/Maturities of Investments	$7.4B
Other Investing Activities	$717M
NET CASH FROM INVESTING	$20.6B
Net Debt Issuance	-$3.6B
Common Stock Repurchased	-$450M
Common Dividends Paid	-$333M
Other Financing Activities	-$22.8B
NET CASH FROM FINANCING	-$27.3B
FREE CASH FLOW	$4.7B
Net Change in Cash	-$1.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$122.2B
Short-Term Investments	$76.5B
Net Receivables	$7.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$208.8B
PP&E (Net)	$3.2B
Goodwill	$16.2B
Intangible Assets	$5.2B
Long-Term Investments	$159.2B
Tax Assets	$0
Other Non-Current Assets	$12.6B
TOTAL NON-CURRENT ASSETS	$196.5B
TOTAL ASSETS	$405.2B
Account Payables	$17.4B
Short-Term Debt	$14.8B
Deferred Revenue	$0
Other Current Liabilities	$281.6B
TOTAL CURRENT LIABILITIES	$313.8B
Long-Term Debt	$29.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$20.4B
TOTAL NON-CURRENT LIABILITIES	$50.3B
TOTAL LIABILITIES	$364.1B
Common Stock	$14M
Additional Paid-In Capital	$28.8B
Retained Earnings	$39.8B
Treasury Stock	-$26.7B
Accum. Other Comp. Income	-$5.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$41.0B
Minority Interest	$165M
TOTAL EQUITY	$41.1B
TOTAL LIABILITIES & EQUITY	$405.2B
Total Debt	$44.7B
Net Debt	-$77.5B