At a glance
The Bank of New York Mellon Corporation is worth $99.44B, about 20 times its fiscal 2025 earnings. Revenue grew 7.8% to $20.08B in fiscal 2025, with 27.6% kept as profit; over 5 years it has grown 4.9% a year. It pays a 1.57% dividend yield, raised every year for at least 9 years, and returned $20.24B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +39.2% over the past year with dividends reinvested and +23.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 40.1% in the 2020 crash (S&P 500: 33.7%) and 40.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 19 months after the lows.
The business in plain English
Bank of New York Mellon, which calls itself BNY, earns most of its money from fees for servicing and managing investments, not from lending. Its core service is custody: holding and safeguarding securities for clients, many of them large financial institutions or governments, and keeping the records that go with them. As of Dec. 31, 2025, it had $59.3 trillion in assets under custody and/or administration and managed $2.2 trillion of investments for clients. With its subsidiaries, it has been in business since 1784.
BNY reports three main segments. Securities Services, which includes asset servicing and issuer services, produced 48.5% of fiscal 2025 revenue of $20.1 billion. Market and Wealth Services, which covers payments and trade, clearing and collateral management (handling assets pledged to back loans and trades), produced 34.9%. Investment and Wealth Management, which manages investments and wealth for clients, produced 16.2%. A small Other segment holds corporate treasury activities, including BNY's own securities portfolio.
In fiscal 2025, noninterest income, mostly fees, was $15.1 billion. Net interest income was $4.9 billion. That is what BNY earns on loans and securities minus its funding costs. BNY had about 48,100 full-time employees at Dec. 31, 2025, with roughly 60% of all staff based outside the US. Its main European bank is based in Brussels.
Price history
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BNY +39.2% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Securities Services | $9.73B | 48.5% |
| Market and Wealth Services | $7.00B | 34.9% |
| Investment and Wealth Management | $3.26B | 16.2% |
| Other | $58.0M | 0.3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $5.68B, up 11.7% from a year earlier, and net income was $1.69B (+17.0%).
- For fiscal 2025, revenue was $20.08B (+7.8% year over year; +4.9% a year from FY2020 to FY2025) with a 27.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.9% watch |
|---|---|
| Return on equity | 12.5% good |
| Net income / revenue | 27.6% good |
| Deposits | $335.45B |
| Loans | $88.94B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $15.81B | $3.62B | — |
| FY2021 | $15.93B | $3.76B | — |
| FY2022 | $16.53B | $2.56B | — |
| FY2023 | $17.70B | $3.30B | — |
| FY2024 | $18.62B | $4.53B | — |
| FY2025 | $20.08B | $5.55B | — |
Valuation snapshot
| Market value | $99.44B |
|---|---|
| P/E ratio | 20 |
| Dividend yield | 1.57% |
Rank among 1514 US companies
Market value at each year end
The Bank of New York Mellon’s market value went from $50.10B at the end of 2016 to $99.44B on Nov 2, 2026, about 2.0 times as much; since the end of 2025 it is up 23%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $99.44B | +22.8% |
| 2025 | $80.96B | +44.9% |
| 2024 | $55.86B | +39.5% |
| 2023 | $40.03B | +8.8% |
| 2022 | $36.79B | -23.3% |
| 2021 | $47.96B | +27.5% |
| 2020 | $37.61B | -19.0% |
| 2019 | $46.41B | -0.3% |
| 2018 | $46.54B | -15.6% |
| 2017 | $55.15B | +10.1% |
| 2016 | $50.10B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BNY price data to Nov 2, 2026 | +29.4% | +39.2% | +52.9% | +23.0% | +16.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +29.4% |
| 2025 | +54.5% |
| 2024 | +51.9% |
| 2023 | +18.5% |
| 2022 | -19.1% |
| 2021 | +40.5% |
| 2020 | -12.9% |
| 2019 | +9.5% |
| 2018 | -10.8% |
| 2017 | +15.7% |
| 2016 | +17.0% |
| 2015 | +3.3% |
| 2014 | +18.3% |
| 2013 | +38.6% |
| 2012 | +32.1% |
| 2011 | -32.9% |
| 2010 | +9.4% |
| 2009 | +0.8% |
| 2008 | -40.3% |
| 2007 | +20.3% |
| 2006 | +29.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 58.3% over that stretch · deepest drop along the way 62.5%, back to its old high 73.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.1% over that stretch · deepest drop along the way 40.1%, back to its old high 9.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.8% over that stretch · deepest drop along the way 40.4%, back to its old high 19.2 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 17 sales ($20.5M), 7 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 26, 2026 | Robin A. Vince Chairman & CEO, Director | sell | $6.0M |
| Apr 17, 2026 | J Kevin McCarthy SEVP & General Counsel | sell | $4.1M |
| Apr 17, 2026 | Alejandro Perez Sr. Executive Vice President | sell | $1.7M |
| Jul 29, 2026 | Dermot McDonogh Chief Financial Officer | sell | $1.6M |
| Oct 27, 2026 | Robin A. Vince Chairman & CEO, Director | sell | $1.4M |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
ETFs with the most weight in BNY
| DFNL Davis Select Financial ETF | 5.26% |
| KBWB Invesco KBW Bank ETF | 4.26% |
| GSIB Themes Global Systemically Important Banks ETF | 3.73% |
| UDI USCF Dividend Income Fund | 3.42% |
| OAKM Oakmark U.S. Large Cap ETF | 2.91% |
| DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF | 2.82% |
| PKW Invesco BuyBack Achievers™ ETF | 2.74% |
| ERNZ TrueShares Active Yield ETF | 2.71% |
What could go wrong
- Fee income depends on market activity. Fee-based businesses produce a substantial majority of BNY's revenue. Slower market activity, weak financial markets, poor investment performance or shifts in how people save and invest could reduce those fees.
- Processing errors, outages or cyberattacks. BNY handled $59.3 trillion in assets under custody and/or administration as of Dec. 31, 2025. Mistakes, system failures or cyberattacks, at BNY or outside providers, could disrupt clients, cause losses and hurt its reputation.
- Trouble at big financial clients. Many of BNY's significant clients and counterparties (the other side of its trades and loans) are major financial institutions or governments. If one failed, or even looked weak, BNY could take credit losses.
- Interest rate swings hit profits and capital. Interest rate levels and moves can squeeze net interest income, which was $4.9 billion in fiscal 2025 (earnings on loans and securities minus funding costs). Losses on securities holdings can also cut capital.
- New operating model may fall short. BNY is moving to what it calls a platforms operating model and pushing artificial intelligence across the company. It may not get the benefits it expects, and AI brings its own risks.
- Rules can limit dividends and buybacks. The parent company runs no business itself and relies on dividends from its subsidiaries. Banking capital rules and board decisions could limit how much cash reaches shareholders.
Recent events
- Change to shareholder rights; Bylaws or fiscal year changed; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Bylaws or fiscal year changed
- Other company announcement
- Executive or board change
- Change to shareholder rights; Bylaws or fiscal year changed; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Bylaws or fiscal year changed
- Other company announcement
For income and retirement investors
BNY has raised its regular dividend at least nine years in a row through fiscal 2025, and the streak may be longer. Dividends per share rose from $1.24 in fiscal 2020 to $2.00 in fiscal 2025, about 10% a year. Dividends paid in fiscal 2025 equaled 26.1% of earnings, a low payout ratio (the share of profit paid out). The yield was a modest 1.56% as of Oct. 28, 2026. Share buybacks (the company repurchasing its own stock) have been larger: $13.9 billion from fiscal 2021 to 2025, versus $6.3 billion in dividends. The share count fell 17.8% between Sept. 30, 2021, and June 30, 2026.
The shares have fallen hard in downturns. They dropped 62.5% during the 2008 financial crisis and took about 74 months to recover. They fell about 40% in both the 2020 COVID crash and the 2022 bear market, recovering in about 9.5 and 19.2 months. Single stocks carry more risk than diversified funds.
Questions investors ask
How does BNY make money?
Mostly from fees. Of BNY's $20.1 billion of revenue in fiscal 2025, $15.1 billion was noninterest income, mainly fees for custody, asset servicing, payments, clearing and investment management. The remaining $4.9 billion was net interest income: what it earns on loans and securities minus its funding costs. Securities Services was the largest segment, at 48.5% of revenue, followed by Market and Wealth Services at 34.9% and Investment and Wealth Management at 16.2%.
Is BNY a regular bank?
Not in the usual sense. BNY takes deposits and makes loans, but fees drive most of its revenue. As of June 30, 2026, it held $370.5 billion of deposits but only $88.5 billion of loans. Its main business is holding, servicing and managing investments for clients, many of them large financial institutions or governments. Deposits at its US banks are insured by the Federal Deposit Insurance Corporation up to legal limits.
Does BNY raise its dividend every year?
Yes, so far. BNY has raised its regular dividend at least nine years in a row through fiscal 2025, and the streak may be longer. Dividends per share grew from $1.24 in fiscal 2020 to $2.00 in fiscal 2025, about 10% a year. The yield was 1.56% as of Oct. 28, 2026. Increases are not guaranteed: they depend on the board and on banking rules on capital.
What is BNY's P/E ratio?
BNY's P/E ratio was 20.1 as of Oct. 28, 2026, based on fiscal 2025 diluted earnings of $7.40 per share. The price-to-earnings (P/E) ratio compares the share price with annual profit per share. Its market value was about $100.8 billion. The shares gained about 52% in 2024 and 54% in 2025, while diluted earnings per share rose from $3.89 in fiscal 2023 to $7.40 in fiscal 2025.
How did BNY stock do in the 2008 financial crisis?
Badly. The shares fell 62.5% from Dec. 24, 2007, to March 9, 2009, and did not regain that peak until May 4, 2015, about 74 months after the low. Later drops recovered faster. The stock fell 40.1% in the 2020 COVID crash and recovered about 9.5 months after the low. It fell 40.4% in the 2022 bear market and took about 19.2 months from the low to recover.