STATE STREET CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data STATE STREET CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	10,207	11,266	12,131	11,756	11,703	12,027	12,148	11,945	13,000	13,944
Selling and marketing	52	67	115	114	77	73	99	142	142	174
Interest expense	428	604	991	1,375	375	3	1,544	6,421
Pre-tax income	2,120	2,995	3,101	2,712	2,899	3,171	3,327	2,316	3,395	3,731
Income tax	-22	839	508	470	479	478	553	372	708	786
Net income to minority interests	-1	0	0
Net income	2,143	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687	2,945
EPS, basic	5.03	5.26	6.46	5.43	6.40	7.30	7.28	5.65	8.33	9.55
EPS, diluted	4.97	5.19	6.39	5.38	6.32	7.19	7.19	5.58	8.21	9.40
Shares, basic (weighted)	391	375	372	370	353	353	365	322	298	285
Shares, diluted (weighted)	396	380	376	374	357	358	370	327	302	289
Dividend per share	1.44	1.60	1.78	1.98	2.08	2.18	2.40	2.64	2.90	3.20

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,204	2,004	3,212	3,302	3,467	3,631	3,970	4,047	3,145	4,433
Property, plant and equipment	2,062	2,186	2,214	2,282	2,154	2,261	2,315	2,399	2,715	3,174
Lease right-of-use assets				858	720	542	500	805	818	865
Goodwill	5,814	6,022	7,446	7,556	7,683	7,621	7,495	7,611	7,691	8,159
Intangible assets	1,750	1,613	2,369	2,030	1,827	1,816	1,544	1,320	1,089	935
Total assets	242,698	238,425	244,596	245,610	314,706	314,624	301,450	297,258	353,240	366,047
Total liabilities	221,479	216,108	219,859	221,179	288,506	287,261	276,259	273,459	327,914	338,206
Paid-in capital	9,782	9,799	10,061	10,132	10,205	10,787	10,730	10,741	10,722	10,705
Retained earnings	17,459	18,856	20,553	21,918	23,442	25,238	27,028	27,957	29,582	31,392
Treasury stock	-7,682	-9,029	-8,715	-10,209	-10,609	-10,009	-11,336	-15,025	-16,198	-17,276
Other comprehensive income	-2,040	-1,009	-1,356	-876	187	-1,133	-3,711	-2,354	-2,100	-1,043
Shareholders' equity	21,193	22,270	24,737	24,431	26,200	27,363	25,191	23,799	25,326	27,841
Minority interests	0
Total equity	21,219	22,317	24,737	24,431	26,200	27,363	25,191	23,799	25,326	27,841
Total liabilities and equity	242,698	238,425	244,596	245,610	314,706	314,624	301,450	297,258	353,240	366,047
Shares outstanding		368	380	357	353	366	349	302	289	279

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	2,143	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687	2,945
Depreciation and amortization	472	526	599
Stock-based compensation	268	243	262
Deferred income tax	-358	92	-136	-130	-194	-162	-62	-184	145	-89
Cash from operations	2,290	6,940	10,175	5,690	3,532	-6,710	11,954	690	-13,210	11,898
Capital expenditures	-613	-637	-609	-730	-560	-811	-734	-816	-926	-1,055
Acquisitions	-437	0	-2,595	-54	0	-346	0	-61	-194	-286
Purchases of investments	-30,162	-34,841	-31,814	-38,164	-37,873	-53,750	-18,029	-23,089	-44,301	-50,245
Sales and maturities of investments	30,070	28,878	14,645	20,407	23,644	23,484	17,254	15,703	18,517	29,040
Cash from investing	4,230	48	-4,496	-2,626	-65,534	-2,172	6,816	12,738	-39,483	-12,991
Debt issued	1,492	747	995	1,495	2,489	1,343	3,731	6,221	6,523	5,722
Stock issued	0	0	1,150	0	0	1,900	0	0
Share buybacks	-1,365	-1,292	-350	-1,585	-515	-900	-1,500	-3,781	-1,319	-1,200
Dividends paid	-723	-768	-828	-930	-889	-866	-972	-970	-1,033	-1,120
Cash from financing	-6,413	-6,188	-4,471	-2,974	62,167	9,046	-18,431	-13,351	51,791	2,381
Net change in cash	107	800	1,208	90	165	164	339	77	-902	1,288
Free cash flow	1,677	6,303	9,566	4,960	2,972	-7,521	11,220	-126	-14,136	10,843
Interest paid	441	593	981	1,382	375	37	1,354	6,184	8,951	8,805
Income taxes paid	371	345	549	510	403	559	436	423	451	594

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $181.34 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	29.1%	Pre-tax income / revenue.
Net margin	23.0%	Net income / revenue.
FCF margin	13.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.1%	Cash from operations / revenue.
Effective tax rate	21.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.8%	Net income / average total assets.
Capex / revenue	9.7%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	9.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	2.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	4.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	14.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-0.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	27.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-1.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	29.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-7.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	93.2%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$19.35B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.04x	Revenue / average total assets.
Fixed asset turnover	3.91x	Revenue / average property, plant and equipment.
FCF conversion	58.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	41.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$12.30	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$53.57	Revenue / diluted weighted shares.
FCF per share	$7.18	Free cash flow / diluted weighted shares.
Operating cash flow per share	$12.36	Cash from operations / diluted weighted shares.
Book value per share	$102.90	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$70.43	Tangible book value / shares outstanding.
Cash per share	$15.62	(Cash + short-term investments) / shares outstanding.
Payout ratio	33.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	57.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	79.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$49.81B	Share price x shares outstanding.
Enterprise value	$45.52B	Market cap + total debt - cash - short-term investments.
P/E	14.4x	Market cap / net income. Only when net income is positive.
P/S	3.31x	Market cap / revenue.
P/B	1.76x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.57x	Market cap / tangible book value, when positive.
P/FCF	24.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.3x	Market cap / cash from operations, when positive.
EV/Sales	3.02x	Enterprise value / revenue.
EV/FCF	22.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.1%	Free cash flow / market cap.
Earnings yield	6.9%	Net income / market cap (the inverse of P/E).
Dividend yield	2.3%	Dividends paid over the period / market cap.
Shareholder yield	5.5%	(Dividends paid + share buybacks) / market cap.
PEG	1.54x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was STATE STREET CORP's revenue in fiscal 2025?

STATE STREET CORP reported revenue of $13.94B for fiscal 2025, 7.3% higher than the year before.

Was STATE STREET CORP profitable in fiscal 2025?

Yes. Net income was $2.95B, a net margin of 21.1%.

How much free cash flow did STATE STREET CORP generate in fiscal 2025?

Cash from operations of $11.90B minus capital expenditures of $1.06B left free cash flow of $10.84B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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