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what it is
BNY Mellon guards client assets, moves payments, and manages money for banks, funds, and wealthy clients.
how it gets paid
Last year Bank Of Ny Mellon made $20.1B in revenue. Financial services was the main engine at $15.2B, or 76% of sales.
why it's growing
Revenue grew 7.8% last year. Q4 2025 EPS rose from $1.54 in Q4 2024.
what just happened
BNY Mellon beat by 3.06% as Q4 EPS came in at $2.02 versus $1.96 expected.
At a glance
A+ balance sheet — rock-solid finances — built to survive anything
90/100 earnings predictability — you can trust these numbers
17.2x trailing p/e — the market's not buying it — or you found a deal
1.9% dividend yield — cash in your pocket every quarter
xvary composite: 87/100 — above average
What they do
BNY Mellon guards client assets, moves payments, and manages money for banks, funds, and wealthy clients.
Assets under custody and/or administration → money the bank watches for clients → leaving means rebuilding records, contracts, and workflows. That pile is $59.3T, and BNY also manages $2.2T itself. Your money does not need to move much for BNY to get paid.
How they make money
$20.1B
annual revenue · their business grew +7.8% last year
Financial services
$15.2B
Investment services
$2.1B
Wealth management
$1.6B
Other banking services
$1.2B
The products that matter
asset servicing and custody
Financial Services
$15.2B · 75.77% of revenue
this is the core business: $15.2B of annual revenue growing 7.8%, tied to safekeeping assets, settling trades, and servicing institutional clients.
core segment
investment management
Investment Advisory & Management
$4.9B · 24.23% of revenue
this $4.9B business grew 5.2% and gives BK a second fee stream beyond pure custody work.
diversifier
scale that keeps clients sticky
Assets under custody and administration
$59.3T
$59.3T under custody is the operating fact that makes the whole model work. That scale is hard to replicate and even harder to move.
the moat
Key numbers
$59.3T
assets held
This is the pile BNY watches for clients. The bigger the pile, the more fee income can sit there with less drama.
$2.2T
aum
BNY also manages $2.2T itself. That gives you a second fee stream beside custody.
$20.1B
annual revenue
Revenue rose 7.8% vs. prior year, which added about $1.5B to the top line.
17.2x
trailing p/e
You are paying 17.2 times trailing earnings. That is not cheap for a bank, but it is not hype-stock pricing either.
Financial health
A+
strength
- balance sheet grade A+ — near the highest rating possible
- risk rank 1 — safer than 95% of stocks
- price stability 90 / 100
- long-term debt $31.9B (27% of capital)
- return on equity 12% — $0.12 profit for every $1 investors have put in
A+ — among the top-rated companies for balance sheet quality.
Total return vs. market
You invested $10,000 in BK 3 years ago → it's now worth $26,880.
The index would have given you $13,880.
source: institutional data · total return
What just happened
beat estimates
BNY Mellon beat by 3.06% as Q4 EPS came in at $2.02 versus $1.96 expected.
Q4 2025 EPS rose from $1.54 in Q4 2024. The bank ended 2025 with $7.40 in trailing EPS, and the latest quarter still beat the street.
$20.1B
revenue
$2.02
eps
n/a
n/a
the number that mattered
The key number was $2.02 EPS, which beat $1.96 by 3.06%. That says the bank is still squeezing more from the same giant asset base.
-
bank of new york mellon exited 2025 with healthy results.
-
the world’s largest custodial bank delivered fourth-quarter earnings of $2.02 per diluted share.
-
this showing was nicely higher than the year-ago figure, and also far better than we had expected.
-
to adjust, we have increased our full-year 2026 earnings estimate by $0.10, to $8.20 per share.
-
we have initiated a forecast of $9.10 per share for 2027.
source: company earnings report, 2026
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What could go wrong
the top risk is market-driven fee pressure on custody and advisory balances.
high
market-driven fee pressure on custody and advisory balances
BK makes $15.2B from Financial Services and $4.9B from advisory and management. If markets fall, client balances shrink, or activity slows, both fee streams feel it.
touches essentially all $20.1B of annual revenue
med
payment card interchange and forex litigation exposure
The disclosed legal item here is the payment card interchange fee and merchant discount antitrust litigation, with $504M of BK forex exposure tied to the broader $6B+ settlement.
disclosed exposure: $504M
med
control and compliance execution risk
A recent $735M fraud complaint tied to AI oversight questions is a reminder that financial plumbing businesses live or die on trust, controls, and clean execution.
named complaint size: $735M
the $504M litigation item is manageable on its own. The bigger threat is simpler: if fee pressure hits both the $15.2B servicing franchise and the $4.9B advisory business at once, the earnings path gets less smooth.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings report
Apr 16, 2026 — this is the next read on whether the Q4 beat was a one-quarter pop or the start of a cleaner estimate trend.
business mix
financial services keeps carrying the story
$15.2B of revenue, or 75.77% of the total, comes from Financial Services. If that segment slows, the whole thesis gets less durable.
risk
litigation and control headlines
The disclosed $504M forex exposure and the $735M complaint are not thesis killers by themselves, but they matter in a business that sells trust.
estimates
watch the $8.20 to $9.10 earnings path
The current setup points to $8.20 for 2026 and $9.10 for 2027. Upward revisions support the stock. Flat revisions make it look fully valued.
Analyst rankings
earnings predictability
90 / 100
this business tends to do what it says. in human-speak, analysts trust the earnings cadence.
risk rank
1
risk rank 1 means safer than 95% of stocks in this dataset. Not risk-free — just unusually sturdy.
price stability
90 / 100
for a stock that has doubled off the low end of its 52-week range, the trading has still been remarkably controlled.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 766 buyers vs. 670 sellers in 3q2025. total institutional holdings: 0.6B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$93
$147
$128
current price
$120
target midpoint · 6% from current · 3-5yr high: $170 (+35% · 9% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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