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BK (Bank of New York Mellon) Piotroski F-Score : 8 (As of Oct. 31, 2024)


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What is Bank of New York Mellon Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bank of New York Mellon has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Bank of New York Mellon's Piotroski F-Score or its related term are showing as below:

BK' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 7   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Bank of New York Mellon was 8. The lowest was 3. And the median was 7.


Bank of New York Mellon Piotroski F-Score Historical Data

The historical data trend for Bank of New York Mellon's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bank of New York Mellon Piotroski F-Score Chart

Bank of New York Mellon Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 5.00 5.00 6.00 7.00

Bank of New York Mellon Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 6.00 8.00 -

Competitive Comparison of Bank of New York Mellon's Piotroski F-Score

For the Banks - Diversified subindustry, Bank of New York Mellon's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Bank of New York Mellon's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Bank of New York Mellon's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bank of New York Mellon's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 1038 + 205 + 1025 + 1168 = $3,436 Mil.
Cash Flow from Operations was 5040 + -2068 + -2680 + 2129 = $2,421 Mil.
Revenue was 4285 + 4367 + 4431 + 4509 = $17,592 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(430382 + 405248 + 409953 + 434728 + 428539) / 5 = $421770 Mil.
Total Assets at the begining of this year (Jun23) was $430,382 Mil.
Long-Term Debt & Capital Lease Obligation was $31,227 Mil.
Total Assets was $428,539 Mil.
Total Liabilities was $387,418 Mil.
Net Income was 388 + 543 + 982 + 1072 = $2,985 Mil.

Revenue was 4154 + 3832 + 4331 + 4412 = $16,729 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(452621 + 427953 + 405783 + 425112 + 430382) / 5 = $428370.2 Mil.
Total Assets at the begining of last year (Jun22) was $452,621 Mil.
Long-Term Debt & Capital Lease Obligation was $33,834 Mil.
Total Assets was $430,382 Mil.
Total Liabilities was $389,280 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bank of New York Mellon's current Net Income (TTM) was 3,436. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bank of New York Mellon's current Cash Flow from Operations (TTM) was 2,421. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun23)
=3436/430382
=0.00798361

ROA (Last Year)=Net Income/Total Assets (Jun22)
=2985/452621
=0.00659492

Bank of New York Mellon's return on assets of this year was 0.00798361. Bank of New York Mellon's return on assets of last year was 0.00659492. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Bank of New York Mellon's current Net Income (TTM) was 3,436. Bank of New York Mellon's current Cash Flow from Operations (TTM) was 2,421. ==> 2,421 <= 3,436 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=31227/421770
=0.07403798

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=33834/428370.2
=0.07898309

Bank of New York Mellon's gearing of this year was 0.07403798. Bank of New York Mellon's gearing of last year was 0.07898309. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Jun24)=Total Assets/Total Liabilities
=428539/387418
=1.10614117

Current Ratio (Last Year: Jun23)=Total Assets/Total Liabilities
=430382/389280
=1.10558467

Bank of New York Mellon's current ratio of this year was 1.10614117. Bank of New York Mellon's current ratio of last year was 1.10558467. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Bank of New York Mellon's number of shares in issue this year was 751.596. Bank of New York Mellon's number of shares in issue last year was 790.725. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=3436/17592
=0.19531605

Net Margin (Last Year: TTM)=Net Income/Revenue
=2985/16729
=0.17843266

Bank of New York Mellon's net margin of this year was 0.19531605. Bank of New York Mellon's net margin of last year was 0.17843266. ==> This year's net margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun23)
=17592/430382
=0.04087532

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=16729/452621
=0.03696028

Bank of New York Mellon's asset turnover of this year was 0.04087532. Bank of New York Mellon's asset turnover of last year was 0.03696028. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bank of New York Mellon has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Bank of New York Mellon  (NYSE:BK) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Bank of New York Mellon Piotroski F-Score Related Terms

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Bank of New York Mellon Business Description

Address
240 Greenwich Street, New York, NY, USA, 10286
BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.
Executives
Hanneke Smits officer: Sr. Exec. Vice President 160 QUEEN VICTORIA STREET, THE BANK OF NEW YORK MELLON CENTRE, LONDON X0 EC4V 4LA
Senthilkumar Santhanakrishnan officer: Senior Exec VP 240 GREENWICH STREET, NEW YORK NY 10286
Kurtis R. Kurimsky officer: Acting Controller 225 LIBERTY STREET, NEW YORK NY 10286
J Kevin Mccarthy director, officer: SEVP & General Counsel THE BANK OF NEW YORK MELLON CORPORATION, 225 LIBERTY STREET, NEW YORK NY 10286
Catherine Keating officer: Sr. Exec. Vice President 75 STATE ST, BOSTON MA 02109
Jayee Koffey officer: Sr. Exec. Vice President 240 GREENWICH STREET, NEW YORK NY 10286
Dermot Mcdonogh officer: Sr. Executive Vice President 240 GREENWICH STREET, NEW YORK NY 10286
Thomas P Gibbons officer: Sr. Executive Vice President THE BANK OF NEW YORK MELLON CORPORATION, 225 LIBERTY STREET, NEW YORK NY 10286
Sandie O'connor director C/O TEREX CORPORATION, 200 NYALA FARM ROAD, WESTPORT CT 06880
La Salla Francis J. officer: Sr. Executive Vice President 101 BARCLAY STREET, NEW YORK NY 10286
Jeffrey D Landau officer: Sr. Exec Vice President 200 PARK AVENUE, NEW YORK NY 10166
Marguerite Amy Gilliland director 2941 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Kumara Guru Gowrappan director 1095 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Robin A. Vince officer: Vice Chair 240 GREENWICH STREET, `, NEW YORK NY 10286
Ralph Izzo director PSEG 80 PARK PLAZA, T6B NEWARK NJ 07102-4194