NYSE Member Firms Report Fourth Quarter Results

New York Stock Exchange member firms that conduct business with the public reported a fourth-quarter 2020 after-tax profit of approximately $11 billion and revenues of approximately $54 billion, compared with approximately $3.6 billion after-tax profit on revenues of about $57 billion in the fourth-quarter of 2019.

Comparative financial results are reported in the table below:

NYSE MEMBER FIRMS DEALING WITH PUBLIC
($ in Millions)

	4th QTR 2020	4th QTR 2019	3rd QTR 2020	YTD 2020	YTD 2019
Revenue	$54,071	$57,348	$48,174	$219,324	$250,379
Expense	$40,727	$51,842	$38,178	$168,430	$222,293
After Tax Profit Loss	$11,091	$3,579	$8,293	$42,421	$18,256
After Tax Annualized Return on Capital	12.8%	4.5%	9.6%	12.2%	5.8%
Assets	$3,916,640	$3,483,105	$3,748,030	$3,916,640	$3,483,105
Capital and subordinated liabilities	$347,882	$316,970	$345,480	$347,882	$316,970
Commission Revenues	$5,272	$4,708	$5,045	$22,241	$19,417
Firms	124	131	123	129	135
Profitable Firms	101	82	99	1	1
Aggregate PreTax Earnings of Profitable Firms	$14,058	$6,369	$10,074	$52,447	$29,655
Unprofitable Firms	23	49	24	128	134
Aggregate PreTax Loss of Unprofitable Firms	($714)	($863)	($78)	($1,553)	($1,569)

Note: Data is from NYSE member firms that conduct business with the public. Revenues include firms that trade primarily for their own account, but excludes designated market makers (formerly known as specialists). All firms are registered broker-dealers with the SEC. Revenues are predominantly derived from investment banking, trading, commissions, and interest.
Prior to 2020, after-tax earnings are presented on a pro-forma basis that assumes a corporate tax rate of 35 percent. Starting in 2020, actual federal tax provisions are presented.

Links
NYSE Member Firms Dealing with Public (Financial Summary)
Statement of Income (Loss) and Expense Unconsolidated
Statement of Financial Condition