State Street Corp (STT)
Financials · Asset Management & Custody Banks · US stock · S&P 500 component
$167.84
▼ -1.11 (0.66%)
Fair valueFair
$170 +1.4% to fair value
$85fair band $145–$206$255
Day's range
$165.54 – $170.00
52-week range
$111.63 – $195.93
About State Street Corp
State Street provides custody, fund administration and investment services to institutional clients such as pension funds, asset managers and insurers. It also manages assets through its investment arm, which includes a large exchange traded fund business. The company earns fees for servicing and managing client assets, along with net interest income and foreign exchange and trading revenue, so its results move with market levels and client activity.
Over the latest twelve months the company reported revenue of $15.1 billion, with growth of 4.7% a year across three years. It reports an operating margin of 29.1%, with return on invested capital of 14%. A dividend is paid, with a yield of 2.0%. Overall, it receives an X-Ray Score of 50 out of 100. Taken together, these numbers give a factual snapshot of the business.
Price chart
52-wk range $111.63 – $195.93Volume 1,766,827Daily, split-adjusted
Vitals
Market cap$47.2B
52-week range$111.63 – $195.93
Volume (last day)1,766,827
P/E (TTM)13.9
EBIT / EV yield10.2%
Free-cash-flow yield4.3%
Dividend yield2.0%
Revenue (TTM)$15.1B
Net income (TTM)$3.5B
Operating margin29.1%
Return on capital14.4%
Debt incl. leasesData missing
Cash & securities$4.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$170middle half of models $145 – $180
Fair
+1.4% to fair value
Average of the 4 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $168
Undervalued < $145Fair $145 – $206Overvalued > $206
P/E multiple
$164
P/B multiple
$144
P/S multiple
$146
Dividend discount, stable
$227
Dividend discount, multi-stage · not used
$432
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
42/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield10.2%
Free-cash-flow yield4.3%
Fair value vs price1.0×
Growth
Weak
44/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)4.7%
EPS growth (3y)9.3%
Growth consistency100%
Profitability
Weak
41/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital14.4%
Operating margin29.1%
Financial health
Strong
85/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score9 / 9
Interest coverNo interest cost
Dividends
Weak
42/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield2.0%
Dividends vs free cash flow48%
Dividend growth4.8%
Quarterly results: last 6 quarters
+4.7%
Mar '25
+8.1%
Jun '25
+8.8%
Sep '25
+7.5%
Dec '25
+15.6%
Mar '26
+17.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.0B, diluted EPS $3.65.
Compare with peers
AMP Ameriprise Financial I...67 APO Apollo Global Manageme...60 BX Blackstone Inc.53 TROW Price T Rowe Group Inc45Other Asset Management & Custody Banks companies by X-Ray Score.
SWOT analysis: State Street Corp
Strengthsinside the company
- Operating profit covers interest 50x, so debt costs are a small drag.
- Passes 9 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 48% of free cash flow, which leaves room to raise them.
- Trades at 13.6x earnings, 24% below the 18.0x median of industry peers.
- Our Market Compass rates the backdrop for Financials as favourable.
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare STT with peers and sector
Medians of 9 Asset Management & Custody Banks peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): BLK 34, BNY 44, BX 53, APO 60, AMP 67, NTRS 41.
| Metric | STT | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 50 | 44 | 50 |
| Valuation | 41 | 47 | 52 |
| Growth | 44 | 51 | 54 |
| Profitability | 41 | 47 | 49 |
| Financial health | 84 | 43 | 50 |
| Dividends | 42 | 45 | 54 |
Sector leaders: highest X-Ray Score in Financials
STT ranks #35 of 71 in Financials and #4 of 10 in Asset Management & Custody Banks by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for STT
Each factor is rated by where STT stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 0 Good · 6 Average · 2 Bad of 8
Growth: 0 · 1 · 2
Profitability: 0 · 2 · 0
Valuation: 0 · 3 · 0
| Factor | STT | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +4.7% | Bad beats 28% | +8.3% | – | – |
| Revenue growth, last year | +7.3% | Average beats 55% | +6.9% | +2.8% | ▲ Better |
| EPS growth, 3 years a year | +9.3% | Bad beats 33% | +12.7% | – | – |
| Profitability | |||||
| Net margin | 23.0% | Average beats 56% | 21.8% | 21.1% | ≈ In line |
| Return on equity | 12.2% | Average beats 36% | 15.7% | 10.6% | ≈ In line |
| Valuation | |||||
| P/E ratio | 13.6x | Average beats 52% | 13.8x | 12.4x | ≈ In line |
| Price / book | 1.7x | Average beats 64% | 2.2x | 1.2x | ▼ Worse |
| Price / sales | 3.1x | Average beats 50% | 3.1x | 2.4x | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings), and banks and insurers are rated only on the factors that apply to them. A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 5 Average · ● 4 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyGood
Balance sheet
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 51/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.0B | $12.1B | $11.9B | $13.0B | $13.9B |
| Operating income | $3.2B | $4.9B | $8.7B | $3.4B | $3.7B |
| Net income | $2.7B | $2.8B | $1.9B | $2.7B | $2.9B |
| Operating cash flow | −$6.7B | $12.0B | $690M | −$13.2B | $11.9B |
| Operating margin | 26.4% | 40.1% | 73.1% | 26.1% | 26.8% |
| Free cash flow | −$7.5B | $11.2B | −$126M | −$14.1B | $10.8B |
| Diluted EPS | $7.19 | $7.19 | $5.58 | $8.21 | $9.40 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
2 bullish · 4 neutral · 10 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 169.3 | Bearish |
| EMA 10 | 169.3 | Bearish |
| SMA 20 | 172.7 | Bearish |
| EMA 20 | 172.5 | Bearish |
| SMA 50 | 181.7 | Bearish |
| EMA 50 | 176.9 | Bearish |
| SMA 100 | 178.3 | Bearish |
| EMA 100 | 173.1 | Bearish |
| SMA 200 | 156.4 | Bullish |
| EMA 200 | 159.6 | Bullish |
Oscillators (daily)
| RSI (14) | 34.08 | Neutral |
| MACD (12, 26) | -4.12 | Bearish |
| Momentum (12) | -4.50 | Bearish |
| Stochastic %K (14) | 54.94 | Neutral |
| Williams %R (14) | -45.06 | Neutral |
| CCI (20) | -71.49 | Neutral |
Pivot points (classic, last session)
S3 161.1 | S2 163.3 | S1 165.6 | Pivot 167.8 | R1 170.0 | R2 172.3 | R3 174.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.44 USD
Yield on today's price
2.05%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.9200 | |
| 0.8400 | |
| 0.8400 | |
| 0.8400 | |
| 0.8400 | |
| 0.7600 | |
| 0.7600 | |
| 0.7600 | |
| 0.7600 | |
| 0.6900 | |
| 0.6900 | |
| 0.6900 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold STT
| ETF | Share of the fund |
|---|---|
| KBWB Invesco KBW Bank | 4.53% |
| GQGU The Advisors’ Inner Circle Fund III | 1.94% |
| RDVI FT Cboe Vest Rising Dividend Achievers... | 1.31% |
| RDVY First Trust Rising Dividend Achievers | 1.20% |
| FMDE Fidelity Enhanced Mid Cap | 0.87% |
| CLSE Convergence Long/Short Equity | 0.86% |
| VOE Vanguard Mid-Cap Value | 0.77% |
| IYF iShares U.S. Financials | 0.75% |
The eight funds with the largest weight in STT among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
STT stock splits
STT has split its stock 3 times since 1992. The latest was a 2-for-1 split on 31 May 2001.
Full STT stock split history →STT SEC filings
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Results of operations; Director or officer change
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.