New York Stock Exchange member firms that do business with the public reported revenues and after-tax profits for full year 2001. Total member firm revenues were $194.79 billion, a 20.6% percent decline compared with 2000 total revenue of $245.20 billion. Total after-tax profit at member firms for the year was $6.76 billion, down 50.5% percent from full-year 2000 after-tax profit of $13.66 billion.
Fourth-quarter 2001 after-tax profits were reported at $1.84 billion, a decrease of 20.0 percent from the year ago quarter's after-tax profit of $2.30 billion. Fourth-quarter revenue declined 31.2 percent to $42.29 billion from $61.50 billion for the same period in 2000.
Specialist firms reported after-tax profits for fourth quarter 2001 of $104 million, a decline of 32.0 percent compared with the year-ago quarter's $153 million. Total specialist revenue declined 16.5% to $454 million from $544 million in the same period in 2000.
NYSE specialists also reported revenues and after-tax profits for full-year 2001. Total specialist after-tax profit declined 41.5% to $414 million from $708 million (a record) in 2000. Full-year specialist revenue declined to $1.78 billion, down 16.8 percent from 2000 full year revenue of $2.14 billion.
The comparative financial results for 2001 and 2000 are charted
below:
($ in millions)
| 4rd Quarter 2001 | 4rd Quarter 2000 | 3nd Quarter 2001 | Full Year 2001 | Full Year 2000 | |
|---|---|---|---|---|---|
| Revenues | $42,291 | $61,496 | $43,641 | $194,790 | $245,202* |
| Expenses | 39,468 | 57,964 | 43,018 | 184.386 | 224,188* |
| After-Tax Profit/Loss | 1,835 | 2,295 | 405 | 6,762 | 13,657* |
| After-Tax Annualized Return on Capital | 4.9% | 6.5% | 1.1% | 4.6% | 10.2% |
| Assets** | 2,718,199 | 2,344,278 | 2,680,452 | 2,718,199* | 2,344,278 |
| Capital & Subordinations | 148,924 | 141,476 | 150,319* | 148,924 | 141,476 |
| Commission Revenues | 6,618 | 7,818 | 6,062 | 26,833 | 33,686* |
| Number of Firms Reporting | 261 | 271 | 261 | 277 | 287 |
| Number of Profitable Firms | 153 | 171 | 158 | 178 | 237 |
| Aggregate Pre-Tax Earnings of Profitable Firms | 4,643 | 5,916 | 2,807 | 15,613 | 24,386 |
| Number of Unprofitable Firms | 103 | 100 | 103 | 99 | 50 |
| Aggregate Pre-Tax Earnings of Profitable Firms | (1,820) | (2,385) | (2,183) | (5,208) | (3,374) |
* Record level
($ in millions)
| 4rd Quarter 2001 | 4rd Quarter 2000 | 3nd Quarter 2001 | Full Year 2001 | Full Year 2000 | |
|---|---|---|---|---|---|
| Revenues | $454 | $544 | $347 | $1,776 | $2,136* |
| Expense | 266 | 283* | 255 | 1,061* | 910 |
| After-Tax Profit | 104 | 153 | 57 | 414 | 708* |
| After-Tax Annualized Return on Capital | 11.3% | 21.7% | 6.6% | 12.1% | 26.1% |
* Record level
**Regulatory Requirements Amended June 2001
Note: For member firms dealing with the public, the figures collected by the NYSE include revenue from all sources, including trading, interest and commission income. Since the NYSE member firm community is made up of corporations and partnerships, after-tax earnings are presented on a pro-forma basis assuming a regular corporate tax rate or credit of 35 percent.
The category of member firms dealing with the public generally excludes specialists, but includes firms that primarily trade for their own account, rather than doing a public business.
After-tax earnings for NYSE specialist units are based on an aggregate tax rate of 42 percent for federal and local taxes.
NYSE Member Firms
Dealing with Public (Financial Summary)
(pdf format)
Statement of
Income (Loss) and Expense Unconsolidated
(pdf format)
Statement of
Financial Condition
(pdf format)
