BNY · NYQ · Financial Services
The Bank of New York Mellon Corporation
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 82.55
Market price
USD 147.78
Implied upside
-44.1%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 11.9%
- Payout
- 36%
- Cost of equity
- 9.14%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 39.5bn | USD 42.3bn | USD 45.1bn | USD 47.9bn | USD 50.5bn | USD 53.1bn | USD 55.5bn | USD 57.8bn | USD 59.8bn | USD 61.6bn |
| Return on equity | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% | 11.9% |
| Excess return | USD 1.1bn | USD 1.2bn | USD 1.2bn | USD 1.3bn | USD 1.4bn | USD 1.5bn | USD 1.5bn | USD 1.6bn | USD 1.7bn | USD 1.7bn |
| Present value | USD 999.1m | USD 980.9m | USD 958.4m | USD 931.9m | USD 901.7m | USD 868.2m | USD 831.8m | USD 793.0m | USD 752.2m | USD 710.0m |
| Book equity | USD 39.5bn |
| Present value of excess returns | USD 8.7bn |
| Terminal, growing at 2.50% | USD 11.0bn |
| Equity value | USD 59.2bn |
| Per share | USD 82.55 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 1.004 | Reported 1.006, pulled toward 1.0 (Blume) |
| Cost of equity | 9.14% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.