Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

State Street Corporation

STT stock analysis · Financials · Asset Management & Custody Banks

FY 2025-12-31ANNUAL FILINGS
Compare ⇄
These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$169.60HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$46.6B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

17.1%

9 industry peers · median 20.1×

How this is calculated ↗
Valuation

Historical multiples

14.5×

7 annual observations · snapshot P/E 17.1× · 18.3% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

3.6%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 13.2B2020-12-31: cfo $3,532,000,000.002020-12-31: capex $560,000,000.0020202021-12-31: cfo -$6,710,000,000.00 (negative; lower scale compressed)2021-12-31: capex $811,000,000.0020212022-12-31: cfo $11,954,000,000.002022-12-31: capex $734,000,000.0020222023-12-31: cfo $690,000,000.002023-12-31: capex $816,000,000.0020232024-12-31: cfo -$13,210,000,000.00 (negative; lower scale compressed)2024-12-31: capex $926,000,000.0020242025-12-31: cfo $11,898,000,000.002025-12-31: capex $1,055,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3113.9B2.9B11.9B1.1B366B
2024-12-3113B2.7B-13.2B926M353.2B
2023-12-3111.9B1.9B690M816M297.3B
2022-12-3112.1B2.8B12B734M301.5B
2021-12-3112B2.7B-6.7B811M314.6B
2020-12-3111.7B2.4B3.5B560M314.7B
2019-12-3111.8B2.2B5.7B730M245.6B
2018-12-3112.1B2.6B10.2B609M244.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue13.9BRevenues2026-02-19
netIncome2.9BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-19
Parent/common earnings proxy2.7BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-19
cfo11.9BNetCashProvidedByUsedInOperatingActivities2026-02-19
capex1.1BPaymentsToAcquirePropertyPlantAndEquipment2026-02-19
operatingIncomeNot reported under a supported tag
assets366BAssets2026-02-19
equity27.8BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-19
Parent book equity proxy27.8BStockholdersEquity2026-02-19
debt25.1BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-19
shortDebtNot reported under a supported tag
cash4.4BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-19
shares289MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-19
dividends1.1BPaymentsOfDividends2026-02-19
buybacks1.2BPaymentsForRepurchaseOfCommonStock2026-02-19
issuanceNot reported under a supported tag