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Arphra AIPlain-English read on The Bank of New York Mellon Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $15.86B | $19.8B | $33.79B | $39.55B | $40.44B | $21.5B | $22.3B | $23.16B | $24.02B |
| Cost of revenue | -$4M | $3.65B | $16.42B | $21.37B | $20.65B | $10.92B | $11.16B | $11.86B | $12.4B |
| Gross profit | $15.86B | $16.15B | $17.37B | $18.19B | $19.79B | $10.28B | $11.06B | $11.38B | $11.89B |
| Gross margin | +100.03% | +81.55% | +51.40% | +45.98% | +48.94% | +47.81% | +49.61% | +49.15% | +49.47% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $6.34B | $6.8B | $6.83B | $6.89B | $6.95B | $3.9B | $3.99B | $4.12B | $4.35B |
| Total operating expenses | $11.22B | $12.67B | $13.09B | $12.34B | $12.73B | $7.19B | $7.38B | $7.63B | $7.9B |
| Operating income | $4.65B | $3.48B | $4.28B | $5.85B | $7.06B | $3.23B | $3.29B | $3.47B | $3.5B |
| Operating margin | +29.31% | +17.58% | +12.67% | +14.79% | +17.45% | +15.01% | +14.74% | +14.97% | +14.58% |
| EBITDA | $6.52B | $5.26B | $6.17B | $7.65B | $8.91B | $4.15B | $4.55B | $4.64B | $4.78B |
| EBIT | $4.65B | $3.48B | $4.28B | $5.85B | $7.06B | $3.16B | $3.31B | $3.49B | $3.68B |
| Below the line | |||||||||
| Interest expense | $227M | $3.61B | $16.3B | $21.3B | $20.68B | $10.94B | $11.22B | $12.15B | $12.23B |
| Interest income | $2.85B | $7.12B | $20.65B | $25.61B | $25.63B | $13.16B | $13.82B | $15B | $14.74B |
| Other income / expense | $0 | $0 | $0 | $0 | $0 | — | — | — | — |
| Pre-tax income | $4.65B | $3.48B | $4.28B | $5.85B | $7.06B | $3.17B | $3.37B | $3.4B | $3.67B |
| Income tax expense | $877M | $937M | $979M | $1.31B | $1.48B | $696.69M | $725.79M | $772.1M | $787.73M |
| Earnings | |||||||||
| Net income | $3.76B | $2.56B | $3.3B | $4.53B | $5.55B | $2.52B | $2.61B | $2.72B | $2.81B |
| Net income · continuing ops | $3.77B | $2.54B | $3.3B | $4.54B | $5.58B | $2.48B | $2.59B | $2.63B | $2.89B |
| Net margin | +23.70% | +12.91% | +9.77% | +11.45% | +13.72% | +11.71% | +11.71% | +11.74% | +11.68% |
| EPS · basic | $4.17 | $2.91 | $3.91 | $5.84 | $7.46 | $8.84 | $9.68 | $10.62 | $11.02 |
| EPS · diluted | $4.15 | $2.90 | $3.89 | $5.80 | $7.41 | $8.78 | $9.64 | $10.65 | $10.85 |
| EPS · low estimate | — | — | — | — | — | $8.43 | $8.90 | $10.24 | $10.54 |
| EPS · high estimate | — | — | — | — | — | $9.04 | $10.00 | $11.26 | $11.13 |
| Shares · basic | 851.91M | 811.07M | 784.07M | 742.59M | 704.74M | 700.77M | 709.08M | 709.3M | 708.12M |
| Shares · diluted | 856.36M | 814.8M | 787.8M | 748.1M | 704.74M | 708.6M | 699.7M | 704.59M | 700.29M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 5 | 2 |
| Analysts (EPS) | — | — | — | — | — | 8 | 9 | 3 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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