Company file · BNY
BNY
BNY's revenue and net income grew in 2025, led by fee income
Total revenue rose 7.8% to $20.1B. Net income rose 22.5% to $5.5B.
Key facts
BNY (NYSE: BNY) closed fiscal 2025 on Dec 31, 2025 with total revenue of $20.1B, up 7.8% from a year before; net income to BNY came to $5.5B, up 22.5%. Its newest quarterly report covers the three months to Jun 30, 2026: total revenue of $5.7B, up 13.3% on the same stretch of the prior year, and net income of $1.8B. Broken down by business segment, Securities Services led with 49% of fiscal 2025 total revenue. Sources: 10-K for fiscal 2025 (filed Feb 25, 2026) and 10-Q for the quarter ended Jun 30, 2026 (filed Jul 31, 2026).
Source: 10-K FY2025, filed Feb 25, 2026
How it makes money
By business segment, FY2025
- LineAmountSharevs FY2024
- Securities Services$9.7B49%+9.1%
- Market and Wealth Services$7.0B35%+11.7%
- Investment and Wealth Management$3.3B16%−3.9%
Source: 10-K FY2025, XBRL breakdown
Fee and other noninterest income was $15.1B, 75% of total revenue, and net interest income was $4.9B. Securities Services was 49% of 2025 segment revenue, Market and Wealth Services 35% and Investment and Wealth Management 16%.
Source: 10-K FY2025
What changed last quarter
Comparing Q2 2026 (Apr to Jun 2026) compared with Q2 2025 (Apr to Jun 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q2 2026Q2 2025
Company
Source: BNY 10-Q for the quarter ended Jun 30, 2026, filed Jul 31, 2026
By segment
Source: BNY 10-Q for the quarter ended Jun 30, 2026, filed Jul 31, 2026
The bull case and the bear case
The bull case
- Total revenue rose 7.8% in 2025 to $20.1B, and net income rose 22.5% to $5.5B. 10-K, FY2025
- Market and Wealth Services revenue grew 11.7% in 2025 and Securities Services 9.1%. 10-K, FY2025
- Diluted shares fell 4.2% in 2025. 10-K, FY2025
- Total revenue in the quarter ended Jun 30, 2026 was $5.7B, up 13.3% on a year earlier, and net income rose 23.8% to $1.8B. 10-Q, quarter ended Jun 30, 2026
The bear case
- Investment and Wealth Management revenue fell 3.9% in 2025. 10-K, FY2025
- Fee income depends partly on the value of the assets it holds and manages, so falling markets can reduce it. 10-K, FY2025
- The 10-K lists market conditions, interest rates, operational and technology failures, cyberattacks, competition and regulation among its risks. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
BNY, formerly known as BNY Mellon, is a large US custody bank. It holds and services investments for funds, pension plans and other institutions, and manages money for clients.
Securities Services holds assets in custody for institutions and handles fund administration and related work. Market and Wealth Services covers clearing, collateral, treasury and payment services, and services for wealth managers. Investment and Wealth Management runs asset management and private wealth businesses.
Unlike most banks, most of its revenue is fees rather than interest on loans. Its fiscal year is the calendar year.
Source: 10-K, Item 1 Business
Main risks the company lists
Our plain-English paraphrase of the risk factors in BNY's latest 10-K. Read the original for the full list.
- MarketsLower asset prices can cut fees tied to the value of client assets.
- Interest ratesChanges in rates affect net interest income and client deposit balances.
- OperationsErrors or outages in custody, clearing and payment systems can be costly.
- CybersecurityIt handles large volumes of client assets and data.
- CompetitionIt competes with other custody banks, asset managers and technology firms.
- RegulationAs a large bank, it faces strict capital and liquidity rules.
Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Total revenue | $17.7B | $18.6B | $20.1B |
| Net income to BNY | $3.3B | $4.5B | $5.5B |
| Net interest income | $4.3B | $4.3B | $4.9B |
| Noninterest revenue | $13.4B | $14.3B | $15.1B |
| Deposits (year end) | $283.7B | $289.5B | $331.9B |
| Total assets (year end) | $409.9B | $416.1B | $472.3B |
| Shareholders' equity (year end) | $40.8B | $41.3B | $44.3B |
| Diluted shares | 788M | 748M | 717M |
- Total revenue: Fee revenue from custody, asset servicing, clearing and investment management, plus net interest income.
- Net income to BNY: Net income applicable to BNY shareholders, after the share belonging to minority owners.
- Net interest income: Interest earned on loans and securities minus interest paid on deposits and borrowings.
- Noninterest revenue: Fees, commissions, trading and other revenue that isn't interest.
- Deposits: Money customers keep at the bank, a liability on its balance sheet.
- Total assets: Everything on the balance sheet: loans, securities, cash, trading assets and more.
- Shareholders' equity: Book value, including preferred stock.
- Diluted shares: Weighted average diluted common shares for the year.
About these numbers
- Banks don't report revenue the way other companies do. Revenue here is net interest income plus noninterest income, after interest expense, as BNY reports it.
- Segment revenue is before the Other segment, so the segments don't add up exactly to the total.
- The provision for credit losses isn't shown: it isn't tagged in a form that could be matched to a consistent three-year series.
What we left out
- Operating cash flow: for a bank it mostly reflects trading and lending flows and says little about the business, so we leave it out.
- Total debt: borrowing is a normal part of how a bank funds itself, alongside deposits, so a debt total isn't comparable with other companies' and isn't shown.
- Cash: a bank's cash is mostly balances held with central banks for liquidity, not a cushion in the usual sense, so it isn't shown.
Recent filings
Latest filings
- Oct 164:19 PM ET
8-K/A
BNY amends an 8-K on director or officer changes
BNY filed a Form 8-K/A on Oct 16, 2026 at 4:19 PM ET under Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers).
- Oct 156:30 AM ET
8-K
BNY files an 8-K on quarterly results and investor materials (Reg FD)
BNY filed a Form 8-K on Oct 15, 2026 at 6:30 AM ET under Item 2.02 (Results of Operations and Financial Condition), Item 7.01 (Regulation FD Disclosure).
- Oct 54:20 PM ET
Form 4
BNY director Elizabeth Robinson reports an award of about 74 shares
The filing reports about 74 shares in a grant or award (code A).
- Oct 54:19 PM ET
Form 4
BNY director Sandra O'Connor reports an award of about 191 shares
The filing reports about 191 shares in a grant or award (code A).
- Oct 54:19 PM ET
Form 4
BNY director Jeffrey A. Goldstein reports an award of about 287 shares
The filing reports about 287 shares in a grant or award (code A).
Common questions about BNY
How does BNY make money?
Fiscal 2025 total revenue: $20.1B. Fee and other noninterest income was $15.1B, 75% of total revenue, and net interest income was $4.9B. Securities Services was 49% of 2025 segment revenue, Market and Wealth Services 35% and Investment and Wealth Management 16%. Source: 10-K for fiscal 2025, filed Feb 25, 2026.
What was BNY's revenue in fiscal 2025?
$20.1B, up 7.8% from fiscal 2024 ($18.6B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $17.7B. Source: 10-K for fiscal 2025, filed Feb 25, 2026.
Is BNY profitable?
Net income to BNY was $5.5B in fiscal 2025 (up 22.5%; fiscal 2024 was $4.5B). That counts as a GAAP profit. The latest quarter, ended Jun 30, 2026: net income was $1.8B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 25, 2026.
What did BNY report in its latest quarterly filing?
For the three months to Jun 30, 2026: total revenue $5.7B (up 13.3% from $5.0B) and net income $1.8B (up 23.8% from $1.4B). Source: 10-Q for the quarter ended Jun 30, 2026, filed Jul 31, 2026.
What are the main risks BNY lists?
The risk factors are in Item 1A of the 10-K filed Feb 25, 2026. This page sorts them into 6 groups (Markets; interest rates; operations; cybersecurity; competition; regulation). The first group in plain English: Lower asset prices can cut fees tied to the value of client assets. Source: 10-K, Item 1A Risk Factors.
Where do these BNY numbers come from?
The 10-K filed Feb 25, 2026 (fiscal 2025) and the 10-Q filed Jul 31, 2026 (quarter ended Jun 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Disclosures
- Editor holdings in BNY
- The editor holds no position in BNY (BNY). As of Oct 25, 2026.
- Trading rule
- The editor does not buy or sell BNY from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Oct 25, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold BNY, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| BNY | FY2025 | $20.1B | +7.8% | $5.5B |
| Charles SchwabSCHW | FY2025 | $23.9B | +22.0% | $8.9B |
| Goldman SachsGS | FY2025 | $58.3B | +8.9% | $17.2B |
| Morgan StanleyMS | FY2025 | $70.6B | +14.4% | $16.9B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
More company files
- AAPL Apple
- MSFT Microsoft
- NVDA Nvidia
- AMZN Amazon
- GOOGL Alphabet
- META
- BRK.B Berkshire Hathaway
- AVGO Broadcom
- TSLA Tesla
- JPM JPMorgan Chase
- LLY Eli Lilly
- MU Micron
- WMT Walmart
- AMD
- V Visa
- XOM ExxonMobil
- JNJ Johnson & Johnson
- MA Mastercard
- ABBV AbbVie
- PLTR Palantir
- INTC Intel
- CVX Chevron
- COST Costco
- CSCO Cisco
- KO Coca-Cola
- ORCL Oracle
- UNH UnitedHealth
- PG Procter & Gamble
- MRK Merck
- BAC Bank of America
- HD Home Depot
- CAT Caterpillar
- PANW Palo Alto Networks
- PM Philip Morris International
- AMAT Applied Materials
- GE GE Aerospace
- DELL
- LRCX Lam Research
- NFLX Netflix
- TXN Texas Instruments
- RTX
- TMO Thermo Fisher
- WFC Wells Fargo
- IBM
- AMGN Amgen
- ANET Arista Networks
- GEV GE Vernova
- AXP American Express
- LIN Linde
- CRM Salesforce
- C Citigroup
- DIS Disney
- GILD Gilead
- QCOM Qualcomm
- VZ Verizon
- PEP PepsiCo
- BLK BlackRock
- COP ConocoPhillips
- ABT Abbott
- SNDK Sandisk
- MCD McDonald's
- DE Deere
- UNP Union Pacific
- NEE NextEra Energy
- PFE Pfizer
- NOW ServiceNow
- DHR Danaher
- ISRG Intuitive Surgical
- TMUS T-Mobile
- BA Boeing
- T AT&T
- LMT Lockheed Martin
- UBER
- BMY Bristol Myers Squibb
- MO Altria
- COF Capital One
- BKNG Booking Holdings
- CVS CVS Health
- SBUX Starbucks
- LOW Lowe's
- SO Southern Company
- ADBE Adobe
- DUK Duke Energy
- GD General Dynamics
- USB U.S. Bancorp
- INTU Intuit
- EMR Emerson
- MMM 3M
- AMT American Tower
- UPS
- MDLZ Mondelez
- CMCSA Comcast
- FDX FedEx
- ACN Accenture
- MDT Medtronic
- GM General Motors
New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.