BNY Mellon significantly improved its capital structure by reducing total debt to $33.9 billion in 2025Q4, resulting in a more conservative debt-to-equity ratio of 0.76.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Current Assets | 272.49B | 210.46B | 250.07B | 234.89B | 275.07B | 320.76B | 251.64B | 233.6B | 229.65B | 188.61B | 248.44B | 265.09B | 264.41B | 265.22B | 237.65B | 168.17B | 135.36B | 152.46B | 116.08B | 56.59B | 20.24B | 22.7B | 22.58B | 18.75B | 23.14B | 26.66B | 24.54B | 13.78B | 13.69B | 9.84B |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 199.81B | 205.6B | 159.81B | 170.89B | 169.37B | 148.88B | 129.86B | 129.28B | 142.11B | 144.86B | 145.34B | 120.21B | 110.11B | 93.77B | 87.62B | 79.09B | 76.87B | 85.05B | 81.57B | 46.61B | 81.87B | 71.83B | 69.82B | 58.99B | 57.88B | 50.46B | 50.21B | 49.73B | 46.27B | 45.92B |
| Property, Plant & Equipment | 3.58B | 3.27B | 3.16B | 3.26B | 3.43B | 3.6B | 3.63B | 1.83B | 1.63B | 1.3B | 1.38B | 1.39B | 1.66B | 1.66B | 1.68B | 1.69B | 1.6B | 1.69B | 1.73B | 1.05B | 1B | 1.1B | 1.4B | 1.19B | 992M | 924M | 893M | 856M | 835M | 875M |
| Fixed Asset Turnover | 11.29x | 12.11x | 10.68x | 6.08x | 4.62x | 4.61x | 5.64x | 10.27x | 9.91x | 11.72x | 10.96x | 10.60x | 9.02x | 8.87x | 8.82x | 8.27x | 4.88x | 9.32x | 8.32x | 8.63x | 7.34x | 5.67x | 4.53x | 4.83x | 7.22x | 8.10x | 7.80x | 6.77x | 6.82x | 6.53x |
| Goodwill | 16.77B | 16.6B | 16.26B | 16.15B | 17.51B | 17.5B | 17.39B | 17.35B | 17.56B | 17.32B | 17.62B | 17.87B | 18.07B | 18.07B | 17.9B | 18.04B | 16.25B | 15.9B | 16.33B | 5.01B | 3.51B | 3.48B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.82B | 5.53B | 5.28B | 5.16B | 5.09B | 4.9B | 4.7B | 4.87B | 4.91B | 5.05B | 5.2B | 5.46B | 5.7B | 5.93B | 6.14B | 6.59B | 6.18B | 6.46B | 6.92B | 1.84B | 1.17B | 793M | 214M | 204M | 236M | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 150.2B | 170.27B | 122.69B | 128.64B | 131.13B | 111.68B | 95.08B | 95.89B | 108.36B | 112.39B | 112.65B | 88.1B | 77.85B | 60.95B | 55.42B | 46.65B | 47.62B | 58.38B | 50.54B | 34.9B | 60.15B | 59.58B | 58.19B | 49.64B | 48.61B | 43.66B | 44.45B | 44.8B | 41.76B | 42.06B |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 472.3B | 416.06B | 409.88B | 405.78B | 444.44B | 469.63B | 381.51B | 362.87B | 371.76B | 333.47B | 393.78B | 385.3B | 374.52B | 358.99B | 325.27B | 247.26B | 212.22B | 237.51B | 197.66B | 103.21B | 102.12B | 94.53B | 92.4B | 77.74B | 81.03B | 77.11B | 74.76B | 63.5B | 59.96B | 55.77B |
| Asset Turnover | 0.09x | 0.10x | 0.08x | 0.05x | 0.04x | 0.04x | 0.05x | 0.05x | 0.04x | 0.05x | 0.04x | 0.04x | 0.04x | 0.04x | 0.05x | 0.06x | 0.04x | 0.07x | 0.07x | 0.09x | 0.07x | 0.07x | 0.07x | 0.07x | 0.09x | 0.10x | 0.09x | 0.09x | 0.10x | 0.10x |
| Asset Growth % | 13.52% | 1.51% | 1.01% | -8.7% | -5.36% | 23.1% | 5.14% | -2.39% | 11.48% | -15.32% | 2.2% | 2.88% | 4.32% | 10.37% | 31.55% | 16.51% | -10.65% | 20.16% | 91.52% | 1.07% | 8.03% | 2.31% | 18.85% | -4.05% | 5.07% | 3.15% | 17.72% | 5.91% | 7.52% | 3.81% |
| Total Current Liabilities | 386.86B | 325.96B | 319.11B | 317.31B | 358.95B | 380.27B | 295.24B | 275.89B | 283.95B | 254.09B | 317.84B | 307.63B | 298.28B | 281.89B | 255.28B | 182.36B | 154.81B | 171.27B | 136.55B | 72.93B | 51.64B | 60.57B | 58.36B | 56.6B | 59.92B | 59.3B | 61.02B | 50.93B | 48.54B | 45.39B |
| Accounts Payable | 21.87B | 20.07B | 18.39B | 23.43B | 25.15B | 25.09B | 18.76B | 19.73B | 20.18B | 20.99B | 21.9B | 21.18B | 15.71B | 16.09B | 12.67B | 9.96B | 10.72B | 9.27B | 7.58B | 7.27B | 163M | 113M | 82M | 101M | 92M | 127M | 131M | 188M | 182M | 167M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 2B | 14.37B | 14.51B | 12.34B | 11.57B | 11.3B | 15.36B | 16.18B | 18.24B | 10.74B | 15.53B | 12.26B | 9.74B | 7.76B | 6.28B | 5.61B | 3.36B | 1.51B | 6.27B | 1.01B | 1.69B | 1.74B | 1.87B | 1.11B | 4.12B | 2.79B | 5.14B | 6.11B | 7B | 5.88B |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 362.99B | 291.52B | 286.21B | 281.54B | 322.23B | 343.88B | 261.12B | 239.98B | 245.53B | 222.36B | 280.41B | 274.19B | 272.83B | 258.03B | 230.1B | 160.63B | 136.24B | 160.48B | 122.7B | 64.65B | 49.79B | 58.72B | 56.41B | 55.39B | 55.71B | 56.38B | 55.75B | 44.63B | 41.36B | 39.34B |
| Current Ratio | 0.70x | 0.65x | 0.78x | 0.74x | 0.77x | 0.84x | 0.85x | 0.85x | 0.81x | 0.74x | 0.78x | 0.86x | 0.89x | 0.94x | 0.93x | 0.92x | 0.87x | 0.89x | 0.85x | 0.78x | 0.39x | 0.37x | 0.39x | 0.33x | 0.39x | 0.45x | 0.40x | 0.27x | 0.28x | 0.22x |
| Quick Ratio | 0.70x | 0.65x | 0.78x | 0.74x | 0.77x | 0.84x | 0.85x | 0.85x | 0.81x | 0.74x | 0.78x | 0.86x | 0.89x | 0.94x | 0.93x | 0.92x | 0.87x | 0.89x | 0.85x | 0.78x | 0.39x | 0.37x | 0.39x | 0.33x | 0.39x | 0.45x | 0.40x | 0.27x | 0.28x | 0.22x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 40.63B | 48.34B | 49.86B | 47.62B | 42.1B | 43.24B | 44.54B | 46.12B | 46.06B | 39.8B | 36.97B | 38.97B | 37.73B | 39.66B | 35.78B | 31.74B | 28.41B | 38.16B | 31.7B | 18.84B | 40.6B | 24.67B | 25.61B | 14.46B | 14.79B | 10.16B | 7.09B | 5.83B | 5.42B | 4.65B |
| Long-Term Debt | 31.87B | 31.08B | 31.74B | 30.86B | 26.68B | 26.33B | 28.1B | 32.39B | 31.01B | 25.22B | 22.07B | 21.05B | 20.53B | 19.91B | 22.11B | 19.38B | 17.71B | 16.62B | 18.71B | 10.17B | 8.72B | 6.12B | 6.12B | 5.44B | 4.98B | 3.04B | 2.81B | 2.09B | 1.81B | 1.82B |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 427.49B | 374.3B | 368.97B | 364.93B | 401.05B | 423.51B | 339.78B | 322B | 330.01B | 293.89B | 354.81B | 346.6B | 336.01B | 321.55B | 291.06B | 214.1B | 183.22B | 209.42B | 168.25B | 91.78B | 92.24B | 85.24B | 83.97B | 71.06B | 74.71B | 69.46B | 68.11B | 56.76B | 53.96B | 50.04B |
| Total Debt | 33.88B | 45.44B | 46.24B | 43.19B | 38.25B | 37.64B | 43.46B | 48.57B | 49.24B | 35.96B | 37.59B | 33.3B | 30.27B | 27.68B | 28.38B | 24.99B | 21.07B | 18.13B | 24.98B | 11.19B | 10.41B | 7.86B | 7.99B | 6.55B | 9.1B | 5.83B | 7.95B | 8.19B | 8.81B | 7.7B |
| Net Debt | -97.64B | -56.49B | -78.95B | -64.17B | -83.09B | -124.52B | -71.22B | -39.43B | -59.63B | -41.99B | -97.29B | -89.84B | -115.85B | -111.07B | -102.36B | -47.44B | -46.33B | -80.43B | -16.47B | -5.15B | -1.11B | -4.22B | -4.13B | -3.3B | -746M | -2.63B | -2.17B | -310M | 916M | 278M |
| Debt / Equity | 0.76x | 1.09x | 1.13x | 1.06x | 0.88x | 0.82x | 1.04x | 1.19x | 1.18x | 0.91x | 0.96x | 0.86x | 0.79x | 0.74x | 0.83x | 0.75x | 0.73x | 0.65x | 0.85x | 0.98x | 1.05x | 0.85x | 0.95x | 0.98x | 1.44x | 0.76x | 1.20x | 1.21x | 1.47x | 1.34x |
| Debt / EBITDA | 3.80x | 5.94x | 7.49x | 8.21x | 5.87x | 6.17x | 6.30x | 7.44x | 8.09x | 5.77x | 6.60x | 6.86x | 5.86x | 6.01x | 6.46x | 5.78x | - | 6.42x | 6.19x | 4.21x | 4.16x | 3.39x | 3.65x | 4.08x | 3.88x | 2.33x | 2.60x | 3.94x | 4.47x | 4.07x |
| Net Debt / EBITDA | -10.96x | -7.38x | -12.80x | -12.20x | -12.75x | -20.42x | -10.32x | -6.04x | -9.80x | -6.74x | -17.09x | -18.51x | -22.43x | -24.13x | -23.30x | -10.97x | - | -28.48x | -4.08x | -1.94x | -0.44x | -1.82x | -1.89x | -2.06x | -0.32x | -1.05x | -0.71x | -0.15x | 0.46x | 0.15x |
| Interest Coverage | 0.34x | 0.27x | 0.26x | 0.96x | 20.48x | 3.95x | 1.28x | 1.84x | 4.29x | 10.81x | 14.12x | 10.06x | 11.01x | 6.29x | 5.99x | 6.78x | -3.72x | 0.73x | 0.94x | 0.97x | 1.49x | 2.52x | 2.44x | 1.45x | 1.06x | 0.90x | 1.60x | 1.02x | 1.04x | 1.02x |
| Total Equity | 44.81B | 41.76B | 40.91B | 40.85B | 43.39B | 46.12B | 41.73B | 40.87B | 41.75B | 39.58B | 38.98B | 38.7B | 38.51B | 37.44B | 34.2B | 33.16B | 29B | 28.09B | 29.4B | 11.43B | 9.88B | 9.29B | 8.43B | 6.68B | 6.32B | 7.65B | 6.64B | 6.75B | 6B | 5.73B |
| Equity Growth % | 7.29% | 2.1% | 0.13% | -5.86% | -5.92% | 10.53% | 2.1% | -2.1% | 5.47% | 1.55% | 0.7% | 0.5% | 2.85% | 9.48% | 3.15% | 14.32% | 3.25% | -4.47% | 157.27% | 15.72% | 6.31% | 10.23% | 26.09% | 5.81% | -17.45% | 15.19% | -1.56% | 12.43% | 4.8% | 9.46% |
| Book Value per Share | 63.58 | 55.83 | 51.92 | 50.14 | 50.67 | 51.67 | 44.25 | 39.29 | 40.13 | 36.92 | 35.03 | 34.03 | 33.36 | 32.18 | 27.96 | 27.26 | 24.60 | 24.38 | 31.59 | 15.82 | 12.76 | 11.94 | 11.10 | 9.19 | 8.52 | 10.27 | 8.68 | 8.64 | 7.43 | 6.82 |
| Total Shareholders' Equity | 44.31B | 41.32B | 40.77B | 40.73B | 43.03B | 45.8B | 41.48B | 40.64B | 41.25B | 38.81B | 38.04B | 37.44B | 37.5B | 36.43B | 33.42B | 32.35B | 28.98B | 28.05B | 29.4B | 11.43B | 9.88B | 9.29B | 8.43B | 6.68B | 6.32B | 6.15B | 5.14B | 5.45B | 5B | 5.13B |
| Common Stock | 14M | 14M | 14M | 14M | 14M | 14M | 14M | 14M | 14M | 13M | 13M | 13M | 13M | 13M | 12M | 12M | 12M | 11M | 11M | 10M | 7.84B | 7.84B | 7.8B | 7.45B | 7.43B | 7.39B | 7.33B | 0 | 0 | 0 |
| Retained Earnings | 46.4B | 42.54B | 39.55B | 37.86B | 36.67B | 34.24B | 31.89B | 28.65B | 25.64B | 22.62B | 19.97B | 17.68B | 15.95B | 14.62B | 12.81B | 10.9B | 8.91B | 10.22B | 10.02B | 9.28B | 7.09B | 6.16B | 5.33B | 4.74B | 4.38B | 3.57B | 2.62B | 1.32B | 3.49B | 2.8B |
| Treasury Stock | -33.8B | -30.24B | -27.15B | -24.52B | -24.4B | -19.83B | -18.84B | -15.52B | -12.25B | -9.56B | -7.16B | -4.81B | -3.14B | -2.11B | -965M | -86M | -29M | -3M | -39M | -7.58B | -6.74B | -6.49B | -6.42B | -6.48B | -6.31B | -5.53B | -5.15B | 0 | 0 | 0 |
| Accumulated OCI | -3.04B | -4.66B | -4.89B | -5.97B | -2.21B | -985M | -2.64B | -3.17B | -2.36B | -3.77B | -2.6B | -1.63B | -892M | -643M | -1.63B | -1.35B | -1.83B | -5.4B | -574M | -317M | -141M | -6M | 71M | 131M | 74M | 199M | 20M | 312M | 0 | 0 |
| Minority Interest | 495M | 446M | 135M | 116M | 357M | 319M | 245M | 230M | 495M | 769M | 938M | 1.26B | 1.01B | 1.01B | 784M | 803M | 26M | 39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5B | 1.5B | 1.3B | 1B | 600M |
Regulatory capital requirement shifts
According to reported financial statements, BNY Mellon's equity base has remained remarkably stable, hovering near $44 billion throughout 2025, which suggests that the firm is successfully managing its capital structure despite the inherent volatility in its massive $472.3 billion asset base as of the most recent quarter.
The consistency in equity levels indicates a disciplined approach to capital preservation, likely supported by steady retained earnings growth. This stability appears to provide a reliable foundation for the firm's G-SIB status, though investors should monitor whether future regulatory capital requirements necessitate a more aggressive retention of earnings.
Based on the latest quarterly filings, BNY Mellon reduced its total debt to $33.9 billion in 2025Q4 from a peak of $51.5 billion in 2025Q3, reflecting a significant deleveraging effort that has brought the debt-to-equity ratio down to 0.76 from the previous quarter's 1.16.
This rapid reduction in debt suggests a proactive management strategy aimed at optimizing the balance sheet ahead of potential regulatory shifts. Such a move may imply that the firm is prioritizing balance sheet flexibility to navigate the upcoming Basel III 'Endgame' requirements while maintaining its core service operations.
As reported in recent filings, BNY Mellon maintains a substantial cash position of $190.7 billion, which, while lower than the $238.9 billion peak observed in 2023Q4, continues to provide a significant liquidity buffer relative to the firm's total liabilities of $427.5 billion as of 2025Q4.
The current liquidity profile appears robust enough to support the firm's role as a global custodian, even during periods of market stress. However, the fluctuation in cash levels warrants further investigation into whether these shifts are driven by client-driven settlement activity or a strategic change in liquidity management.
Based on the provided data, BNY Mellon's asset mix remains heavily weighted toward financial instruments, with goodwill holding steady at $16.8 billion, representing a relatively small portion of the $472.3 billion total asset base, which suggests a high quality of tangible asset backing.
The minimal reliance on goodwill relative to total assets implies that the firm's valuation is primarily supported by its operational scale and service infrastructure rather than historical acquisition premiums. This asset structure appears to align with the firm's role as a stable financial utility, minimizing the risk of significant impairment charges.
Quick answers to the most common questions about buying BK stock.
As of 2025, The Bank of New York Mellon Corporation (BK) had total assets of $472.30B including $272.49B in current assets.
The Bank of New York Mellon Corporation (BK) carries total debt of $33.88B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
The Bank of New York Mellon Corporation (BK) has total shareholders' equity (book value) of $44.31B ($63.58 book value per share). Book value represents the net worth of the company belonging to common stock holders.
The Bank of New York Mellon Corporation (BK) reported a current ratio of 0.70x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.