BNY Mellon
BNY Mellon's revenue rose 7.8% to $20.1 billion in fiscal 2025. Net income was $5.5 billion, up 22.5%. Its return on equity was 13.0%, up from 11.0% a year earlier. Its efficiency ratio was 65.0%, down from 68.2% a year earlier. It paid out $5.0 billion in dividends and buybacks. The diluted share count fell 4.2%.
Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.
What BNY Mellon does
BNY, whose legal name is The Bank of New York Mellon Corporation, is a financial services company that holds, moves and manages money and securities for other institutions and wealth clients. Its customers include investment managers, banks, corporations, governments, pension plans and wealthy individuals. It is based in New York and has been in business since 1784. At the end of 2025 it had $59.3 trillion in assets under custody and/or administration, which means assets it safeguards or services for clients, and $2.2 trillion in assets under management, which are assets it invests for clients.
It reports three segments. Securities Services handles asset servicing, such as custody and fund accounting, and issuer services, such as corporate trust and depositary receipts. Market and Wealth Services includes Pershing, which provides clearing and other services to brokers and advisors, plus payments, trade and collateral management. Investment and Wealth Management runs asset management and wealth management for individuals and families. An Other segment covers treasury activities and corporate investments.
BNY earns much of its revenue from fees for these services. It had approximately 48,100 full-time employees at the end of 2025, and about 60% of its employees were based outside the U.S. It competes with domestic and international financial services firms, asset managers, trust banks and technology service providers.
Its biggest risks, as it describes them
- Dependence on fee-based revenue, which can fall when markets are weak or activity slows.
- Operational errors, technology failures or cybersecurity incidents at BNY or at the third parties it relies on.
- Heavy regulation, and the chance that new rules or enforcement actions force changes to its businesses.
- Credit and counterparty risk, including the failure of a major client or counterparty.
- Failing to realize the expected benefits of its move to a platforms operating model.
Charts show fiscal years, from the 10-K filings.
Revenue and returns
Net income and earnings per share
From fiscal 2016 to 2025, earnings per share grew 10.0% a year and net income 5.1% a year, as buybacks cut the share count by 33%.
Efficiency and income mix
Payouts and share count
Valuation
Value BNY Mellon yourself from its earnings. A bank's cash flow is mostly the money it lends and takes in, so the cash flow model on other company pages doesn't suit it.
Price-to-earnings (P/E) method
Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.
Value per share on three example scenarios, from BNY Mellon's earnings per share of $8.58 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 13.8×, the middle of BNY Mellon's own P/E today, its peers' median and its sector's median (the Financials median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 10%, 9% and 8%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.
- Last close, October 26, 2026
- $147.18
- Value at this multiple, against the last close
- —
- BNY Mellon's P/E at the last close
- 17.2×
| Company | Last close | Earnings per share | P/E today |
|---|---|---|---|
| Northern TrustNTRS | $169.55 | $8.74 | 19.4× |
| BNY MellonBNY | $147.18 | $8.58 | 17.2× |
| State StreetSTT | $169.94 | $11.34 | 15.0× |
| Ameriprise FinancialAMP | $493.60 | $41.44 | 11.9× |
| Truist FinancialTFC | $48.91 | $4.36 | 11.2× |
Balance sheet
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | — | — | 66.6 | 71.3 | 80.4 |
| Deposits | 319.7 | 279.0 | 283.7 | 289.5 | 331.9 |
| Loans to deposits | — | — | 23.5% | 24.6% | 24.2% |
| Provision for credit losses | −0.2 | 0.0 | 0.1 | 0.1 | −0.0 |
| Provision to average loans | — | — | — | 0.1% | −0.0% |
| Total assets | 444.4 | 405.6 | 409.9 | 416.1 | 472.3 |
| Shareholders' equity | 43.0 | 40.7 | 40.8 | 41.3 | 44.3 |
Insider trades
Over the 12 months between October 27, 2025 and October 26, 2026, no insider bought BNY Mellon shares on the open market, and 6 insiders sold $12.6 million, $1.1 million of it under trading plans set up in advance.
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 28, 2026 | Jose MinayaSenior Executive VP | Sold plan | 3,520 | $148.79 | $523,730 | Form 4 |
| Aug 27, 2026 | Jose MinayaSenior Executive VP | Sold plan | 3,520 | $162.64 | $572,494 | Form 4 |
| Jul 29, 2026 | Dermot McDonoghChief Financial Officer | Sold | 31,800 | $155.26 | $4.9 million | Form 4 |
| Apr 17, 2026 | McCarthy J KevinSEVP & General Counsel | Sold | 30,000 | $136.50 | $4.1 million | Form 4 |
| Apr 17, 2026 | Alejandro PerezSr. Executive Vice President | Sold | 12,504 | $137.01 | $1.7 million | Form 4 |
| Apr 17, 2026 | Kurtis R. KurimskyCorporate Controller | Sold | 5,290 | $136.02 | $719,546 | Form 4 |
| Apr 17, 2026 | Shannon Marie HobbsSenior Executive VP | Sold | 297 | $137.05 | $40,704 | Form 4 |
Compare
Put BNY Mellon side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.
Similar companies
| Company | Year | Revenue growth | Net margin | Return on equity | Return on tangible equity | Efficiency ratio | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon | FY25 | 7.8% | 27.6% | 13.0% | 28.4% | 65.0% | |
| Ameriprise Financial | FY25 | 5.5% | 18.8% | — | 79.7% | — | Compare |
| State Street | FY25 | 7.3% | 21.1% | 11.1% | 14.6% | 72.8% | Compare |
| Northern Trust | FY25 | −2.5% | 21.5% | 13.5% | 13.9% | 71.2% | Compare |
| Truist Financial | FY25 | 53.0% | 26.1% | 8.2% | 10.5% | 59.4% | Compare |
10 years of figures
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | 15.2 | 15.5 | 16.4 | 16.5 | 15.8 | 15.9 | 16.5 | 17.7 | 18.6 | 20.1 |
| Revenue growth | 0.6% | 2.2% | 5.5% | 0.4% | −4.0% | 0.8% | 3.8% | 7.1% | 5.2% | 7.8% |
| Net interest income | 3.1 | 3.3 | 3.6 | 3.2 | 3.0 | 2.6 | 3.5 | 4.3 | 4.3 | 4.9 |
| Noninterest income | 12.1 | 12.2 | 12.8 | 13.3 | 12.8 | 13.3 | 13.0 | 13.4 | 14.3 | 15.1 |
| Noninterest expense | 10.5 | 11.0 | 11.2 | 10.9 | 11.0 | 11.5 | 13.0 | 13.3 | 12.7 | 13.1 |
| Provision for credit losses | −0.0 | −0.0 | −0.0 | −0.0 | 0.3 | −0.2 | 0.0 | 0.1 | 0.1 | −0.0 |
| Net income | 3.5 | 4.1 | 4.3 | 4.4 | 3.6 | 3.8 | 2.6 | 3.3 | 4.5 | 5.5 |
| Diluted EPS (US$) | 3.15 | 3.72 | 4.04 | 4.51 | 3.83 | 4.14 | 2.88 | 3.89 | 5.80 | 7.40 |
| Diluted shares (millions) | 1,072 | 1,040 | 1,007 | 943 | 892 | 856 | 815 | 788 | 748 | 717 |
| Payouts | ||||||||||
| Dividends paid | 0.8 | 0.9 | 1.1 | 1.1 | 1.1 | 1.1 | 1.2 | 1.3 | 1.3 | 1.4 |
| Share buybacks | 2.4 | 2.7 | 3.3 | 3.3 | 1.0 | 4.6 | 0.1 | 2.6 | 3.1 | 3.5 |
| Balance sheet at fiscal year end | ||||||||||
| Loans, net | 64.5 | 61.5 | 56.6 | 55.0 | — | — | — | 66.6 | 71.3 | 80.4 |
| Deposits | — | — | — | — | 341.5 | 319.7 | 279.0 | 283.7 | 289.5 | 331.9 |
| Total assets | 333.5 | 371.8 | 362.9 | 381.5 | 469.6 | 444.4 | 405.6 | 409.9 | 416.1 | 472.3 |
| Shareholders' equity | 38.8 | 41.3 | 40.6 | 41.5 | 45.8 | 43.0 | 40.7 | 40.8 | 41.3 | 44.3 |
| Ratios | ||||||||||
| Return on equity | 9.2% | 10.2% | 10.4% | 10.8% | 8.3% | 8.5% | 6.1% | 8.1% | 11.0% | 13.0% |
| Return on tangible common equity | 24.1% | 25.2% | 24.6% | 25.1% | 17.9% | 18.5% | 13.6% | 18.0% | 24.9% | 28.4% |
| Return on assets | 1.0% | 1.2% | 1.2% | 1.2% | 0.8% | 0.8% | 0.6% | 0.8% | 1.1% | 1.2% |
| Efficiency ratio | 69.2% | 70.5% | 68.4% | 66.2% | 69.6% | 72.3% | 78.7% | 75.1% | 68.2% | 65.0% |