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State Street Corporation provides various financial products and services to institutional investors. It offers custody, accounting, and fund administration services for traditional and alternative assets, as well as multi-asset class investments; recordkeeping, client reporting, and investment book of record, transaction management, loans, cash, derivatives, and collateral services; investor services operations outsourcing; performance, risk, and compliance analytics; financial data management to support institutional investors; foreign exchange, brokerage, and other trading services; securities finance, such as prime services products; and deposit and short-term investment facilities. The company also provides the State Street Alpha platform that combines portfolio management, trading and execution, analytics and compliance tools, and advanced data aggregation and integration with other industry platforms and providers; front-office technology that automates and simplifies the institutional investment process comprising portfolio management and risk analytics, trading, and post-trade settlement with integrated compliance and managed data; investment management solutions; and portfolio management, trading compliance, and manager/sponsor communication. In addition, it offers investment management solutions, such as strategies across equity, fixed income, cash, multi-asset, and alternatives; and ETFs, custom indexed, managed funds, and mandates. The company provides its products and services to mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, wealth managers, investment managers, foundations, and endowments. The company was founded in 1792 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $14.0B | - | $2.9B | $10.8B | 12.1% | 8.1% | 9.6% |
| 2024 | $12.9B | - | $2.7B | $-14.1B | 11.9% | 8.2% | 38.2% |
| 2023 | $11.9B | - | $1.9B | $-126M | 8.9% | -1.5% | -29.9% |
| 2022 | $12.1B | - | $2.8B | $11.2B | 11.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 12,125 | 11,945 | 12,919 | 13,965 |
| Operating Revenue | - | 12,125 | 11,945 | 12,919 | 13,965 |
| Selling General And Administration | - | 4,477 | 4,704 | 4,854 | 4,998 |
| Interest Income | - | 4,088 | 9,180 | 11,977 | 11,644 |
| Interest Expense | - | 1,544 | 6,421 | 9,054 | 8,684 |
| Net Interest Income | - | 2,544 | 2,759 | 2,923 | 2,960 |
| Pretax Income | - | 3,327 | 2,316 | 3,395 | 3,731 |
| Tax Provision | - | 553 | 372 | 708 | 786 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -18.59 | -102.24 | -5.84 | -72.89 |
| Net Income Continuous Operations | - | 2,774 | 1,944 | 2,687 | 2,945 |
| Net Income From Continuing And Discontinued Operation | - | 2,774 | 1,944 | 2,687 | 2,945 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,774 | 1,944 | 2,687 | 2,945 |
| Net Income | - | 2,774 | 1,944 | 2,687 | 2,945 |
| Net Income Common Stockholders | - | 2,660 | 1,821 | 2,483 | 2,717 |
| Net Income Including Noncontrolling Interests | - | 2,774 | 1,944 | 2,687 | 2,945 |
| Normalized Income | - | 2,867.41 | 2,476.76 | 2,709.16 | 3,218.11 |
| Diluted NI Availto Com Stockholders | - | 2,660 | 1,821 | 2,483 | 2,717 |
| Basic Average Shares | - | 365.21 | 322.34 | 297.88 | 284.54 |
| Diluted Average Shares | - | 370.11 | 326.57 | 302.23 | 289.02 |
| Reconciled Depreciation | - | 1,156 | 882 | 605 | 554 |
| Total Unusual Items | - | -112 | -635 | -28 | -346 |
| Total Unusual Items Excluding Goodwill | - | -112 | -635 | -28 | -346 |
| Preferred Stock Dividends | - | 112 | 122 | 202 | 226 |
| Special Income Charges | - | -112 | -635 | -28 | -346 |
| Gain On Sale Of Business | 53 | - | - | 66 | - |
| Other Special Charges | - | -23 | 432 | 96 | 20 |
| Restructuring And Mergern Acquisition | - | 135 | 203 | -2 | 326 |
| Gain On Sale Of Security | - | -2 | -294 | -79 | 4 |
| Depreciation Amortization Depletion Income Statement | - | 238 | 239 | 230 | 223 |
| Depreciation And Amortization In Income Statement | - | 238 | 239 | 230 | 223 |
| General And Administrative Expense | - | 4,378 | 4,562 | 4,712 | 4,824 |
| Other Gand A | 12 | - | - | - | - |
| Salaries And Wages | - | 4,378 | 4,562 | 4,712 | 4,824 |
| Insurance And Claims | 12 | - | - | - | - |
| Selling And Marketing Expense | - | 99 | 142 | 142 | 174 |
| Otherunder Preferred Stock Dividend | - | 2 | 1 | 2 | 2 |
| Amortization | - | 238 | 239 | 230 | 223 |
| Amortization Of Intangibles Income Statement | - | 238 | 239 | 230 | 223 |
| Occupancy And Equipment | - | 374 | 405 | 424 | 418 |
| Professional Expense And Contract Services Expense | - | 375 | 428 | 465 | 444 |
| Other Non Interest Expense | - | 3,202 | 3,172 | 3,448 | 3,746 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| State Street Corporationthis co. | STT | $45.0B | 15.30↓ discount | 1.86 | 12.1% | - |
| Nasdaq, Inc. | NDAQ | $50.0B | 27.98 | 4.09 | 14.6% | 18.81 |
| Fifth Third Bancorp | FITB | $46.9B | 18.61 | 2.35 | 12.6% | - |
| MSCI Inc. | MSCI | $45.0B | 37.44 | -16.96 | -45.3% | 26.42 |
| Coinbase Global, Inc. | COIN | $43.2B |
| - |
| - |
| - |
| - |
| - |
| 34.31 |
| 2.92 |
| 8.5% |
| 22.15 |
| Ares Management Corporation | ARES | $43.0B | 81.62 | 15.29 | 18.7% | 24.30 |
| Ameriprise Financial, Inc. | AMP | $40.9B | 11.48 | 6.25 | 54.4% | - |
| American International Group, Inc. | AIG | $38.9B | 12.58 | 0.95 | 7.5% | - |
| PayPal Holdings, Inc. | PYPL | $37.7B | 7.21 | 1.86 | 25.8% | 4.84 |
| Peer Median | - | 23.30 | 2.64 | 13.6% | 22.15 | |