State Street Past Earnings Performance
Past criteria checks 3/6
State Street has been growing earnings at an average annual rate of 1.1%, while the Capital Markets industry saw earnings growing at 6.1% annually. Revenues have been growing at an average rate of 3.4% per year. State Street's return on equity is 11%, and it has net margins of 19.6%.
Key information
1.06%
Earnings growth rate
7.09%
EPS growth rate
| Capital Markets Industry Growth | 10.26% |
| Revenue growth rate | 3.38% |
| Return on equity | 11.05% |
| Net Margin | 19.63% |
| Next Earnings Update | 16 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 22
STT: Fee Platforms And Operating Leverage Inflection Will Support Balanced Long Term Outcomes
State Street's analyst price target is updated to $171 from $162. Analysts point to expectations for stronger organic growth, operating leverage, and earnings power as key factors behind the revised view.Seeking Alpha • Jun 16
State Street's Growth Story Continues With New Fund Launch, After Q1 Results Impress
Summary State Street Corporation stock remains a Buy, driven by organic growth, new product launches, and a robust A-level balance sheet. STT’s new stablecoin money market fund and consistent earnings beats highlight its competitive positioning and ongoing recovery story. Despite a lower ROE versus peers, STT shows improving margins, strong dividend growth, and conservative payout ratios supporting risk management. STT stock valuation appears rich on earnings multiples, but technicals and balance sheet quality justify continued upside potential amid bullish market momentum. Read the full article on Seeking AlphaNarrative Update • Jun 06
STT: Fee Platforms And Operating Leverage Inflection Support Balanced Long Term Upside
Analysts have raised the price target for State Street by $9 to $171, citing expectations for stronger organic growth, better operating leverage and improved EPS visibility following recent management meetings. Analyst Commentary Recent Street research shows a cluster of higher price targets on State Street, with several bullish analysts pointing to what they view as improved visibility on organic growth, operating leverage, and earnings power.Narrative Update • May 22
STT: Expanded Private Assets And Capital Markets Platform Will Support Future Fee Upside
Analysts have raised the State Street price target to $175.00, citing updated views that incorporate revised discount rate assumptions, slightly higher profit margin expectations, and modest adjustments to long term revenue growth and future P/E estimates. Analyst Commentary Recent Street research on State Street has leaned positive, with a cluster of firms lifting price targets, including a US$21 increase at JPMorgan and a US$16 increase at Goldman Sachs.
Narrative Update • May 04
STT: Private Assets And ETF Servicing Advances Will Shape Future Fee Power
State Street's updated analyst price target moves higher by about $9, as analysts factor in slightly stronger assumed revenue growth, a modestly higher profit margin, a small adjustment to the future P/E multiple, and a lower discount rate. Analyst Commentary Recent Street research on State Street has centered on revised price targets, with most firms adjusting their valuation frameworks rather than pointing to any single catalyst.Narrative Update • Apr 19
STT: Private Assets And ETF Servicing Expansion Will Support Future Fee Power
State Street's updated analyst price target has moved from $144.30 to about $148.46. Analysts attribute this to revised fair value, a lower discount rate, slightly different revenue growth assumptions, a higher profit margin outlook, and updated future P/E expectations supported by recent mixed target changes across major research firms.
Narrative Update • Apr 05
STT: Sector Recovery And Private Markets Moves Will Offset Rate Headwinds
Analysts have widened the range of views on State Street, with the updated fair value estimate moving from $102.26 to $121.23 as they factor in revised price targets that reflect mixed calls on bank earnings, margin potential, and expectations for sector recovery into 2026. Analyst Commentary Recent Street research on State Street presents a split picture, with some firms lifting price targets while others are trimming them as they reassess earnings power, margin durability, and the pace of any sector recovery into 2026.Narrative Update • Mar 22
STT: Capital Markets And Private Assets Expansion Will Support Future Fee Upside
The updated analyst price target for State Street rises by about $6 to roughly $170. This reflects recent research in which some analysts lifted their targets on expectations for steadier balance sheet trends, potential tailwinds for trust banks, and a richer future P/E assumption around 16x, even as others trimmed targets around Q4 and bank sector adjustments.Narrative Update • Mar 08
STT: Capital Markets Recovery And Private Assets Access Will Drive Future Fee Power
Narrative Update on State Street Analyst price targets for State Street have seen a mixed reset, with some firms trimming expectations while others lifting targets by up to $20. This reflects analysts balancing recent sector wide optimism in bank and capital markets activity against more cautious stock specific views.Narrative Update • Feb 22
STT: Capital Markets Recovery And Digital Assets Platform Will Shape Future Fee Power
Narrative Update on State Street The analyst price target for State Street edges higher by about $0.70 to reflect a modestly stronger fair value estimate and slightly higher assumed future P/E. Recent research updates cite sector wide optimism on Capital Markets and trust banks, alongside mixed target revisions from different firms.Narrative Update • Feb 08
STT: Capital Markets Recovery And Digital Initiatives Will Shape Future Fee Leverage
Narrative update on State Street Analysts have lifted their fair value estimate for State Street to $143.60 from $130.14, reflecting updated assumptions for revenue growth, profit margins, discount rate, and future P/E following recent price target revisions from several research firms. Analyst Commentary Recent Street research on State Street reflects a mix of optimism and caution, with several firms updating their price targets and views on the broader Capital Markets and banking space into 2026.Narrative Update • Jan 24
STT: Capital Markets Recovery Into 2026 Will Support Fee Income Upside
Narrative Update on State Street The analyst price target for State Street has been reduced by $4 to reflect modestly lower fair value and revenue growth assumptions, as analysts balance recent target cuts with generally constructive views on bank earnings and a potential capital markets recovery into 2026. Analyst Commentary Recent research on State Street has been mixed, with some firms trimming price targets while others are leaning more optimistic on the medium term setup for banks and capital markets activity into 2026.Analysis Article • Jan 20
Analysts Are Updating Their State Street Corporation (NYSE:STT) Estimates After Its Full-Year Results
Shareholders might have noticed that State Street Corporation ( NYSE:STT ) filed its annual result this time last week...Narrative Update • Jan 10
STT: Capital Markets Recovery Into 2026 Will Support Fee Income Rebound
Narrative Update: State Street Analysts have lifted their implied fair value for State Street from about US$116 to roughly US$168, citing higher price targets across the Street and updated assumptions for revenue growth, profit margins, P/E multiples, and discount rates. Analyst Commentary Recent research updates point to a cluster of higher price targets for State Street, with implied upside framed around sector level themes such as bank earnings resilience and potential recovery in capital markets related activity.Narrative Update • Dec 22
STT: Lower Rate Outlook Will Pressure Earnings Despite Recent Optimism
Analysts have lifted their price target on State Street by roughly $12 to reflect stronger expected revenue growth, improving profit margins, and a modestly higher future earnings multiple despite a slightly higher discount rate. Analyst Commentary Recent Street research on State Street has skewed constructive, with multiple firms lifting price targets into the $130 to $160 range and reiterating positive ratings.Narrative Update • Dec 08
STT: Future Fee Leverage And New CFO Moves Will Shape Returns
Analysts have nudged their fair value estimate for State Street slightly lower to approximately $130 per share from about $130.36, reflecting a modestly higher discount rate and fine tuned expectations for revenue growth, profitability, and future valuation multiples, amid broadly supportive Street target hikes that emphasize operating leverage and potential strategic upside. Analyst Commentary Bullish analysts are broadly constructive on State Street, pointing to a blend of equity market leverage, operating efficiency opportunities, and a refreshed leadership backdrop as catalysts that could unlock additional shareholder value beyond current expectations.Narrative Update • Nov 24
STT: Future Fee Upside Expected As New CFO Initiatives Unfold
Analysts have raised their price targets for State Street, with the consensus increasing by up to $48. Strong revenue performance, improved outlooks, and expectations for ongoing fee growth and strategic shifts support the more favorable view.Narrative Update • Nov 07
STT: Future Fee Momentum And New CFO Appointment Will Drive Share Recovery
The consensus analyst price target for State Street has increased modestly from approximately $129.63 to $130.36. This change reflects continued confidence in the company's profitability prospects and steady revenue growth cited by analysts.Narrative Update • Oct 24
Rising Market Momentum And Fee Expansion Will Drive Future Asset Servicing Success
State Street's analyst price target has been raised from approximately $127.30 to $129.63 per share. Analysts cite factors such as a strong revenue beat, attractive valuation, and the potential for improved profitability due to higher market levels and ongoing strategic initiatives.Narrative Update • Oct 10
Global Wealth And Passive Investing Will Strengthen Future Asset Servicing
State Street's analyst price target has been revised upward from $117.50 to $127.30. This change reflects improved revenue growth expectations and continued optimism from analysts, citing increased fee generation, strategic changes, and positive momentum in new business wins.Narrative Update • Sep 26
Global Wealth And Passive Investing Will Strengthen Future Asset Servicing
Analysts have raised State Street’s price target to $117.50, citing continued organic fee growth, strong operating leverage, asset-driven revenue momentum, and sector tailwinds from rising markets and interest rates. Analyst Commentary Bullish analysts highlight State Street’s ability to drive organic fee growth while maintaining expense discipline, creating positive operating leverage.Analysis Article • Sep 25
State Street (NYSE:STT) Is Increasing Its Dividend To $0.84
The board of State Street Corporation ( NYSE:STT ) has announced that it will be paying its dividend of $0.84 on the...Analysis Article • Sep 11
State Street (NYSE:STT) Is Increasing Its Dividend To $0.84
State Street Corporation ( NYSE:STT ) has announced that it will be increasing its dividend from last year's comparable...Narrative Update • Sep 04
Global Wealth And Passive Investing Will Strengthen Future Asset Servicing
Analysts maintain a positive outlook on State Street, citing robust AUC/A growth, higher fee revenues, and increased net interest income driven by favorable markets and rising rates, leaving the consensus price target unchanged at $115.11. Analyst Commentary Bullish analysts cite robust growth in assets under custody/administration (AUC/A), supported by a favorable equity market environment.Analysis Article • Aug 04
State Street (NYSE:STT) Is Paying Out A Larger Dividend Than Last Year
State Street Corporation ( NYSE:STT ) will increase its dividend from last year's comparable payment on the 14th of...Analysis Article • Jul 21
State Street (NYSE:STT) Is Paying Out A Larger Dividend Than Last Year
State Street Corporation's ( NYSE:STT ) dividend will be increasing from last year's payment of the same period to...Analysis Article • Jul 19
State Street Corporation Just Missed Earnings - But Analysts Have Updated Their Models
Last week saw the newest second-quarter earnings release from State Street Corporation ( NYSE:STT ), an important...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How State Street makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 14,393 | 2,825 | 7,723 | 0 |
| 31 Dec 25 | 13,885 | 2,717 | 7,486 | 0 |
| 30 Sep 25 | 13,626 | 2,757 | 7,525 | 0 |
| 30 Jun 25 | 13,323 | 2,637 | 7,436 | 0 |
| 31 Mar 25 | 13,086 | 2,662 | 7,182 | 0 |
| 31 Dec 24 | 12,925 | 2,483 | 7,107 | 0 |
| 30 Sep 24 | 12,548 | 1,927 | 6,948 | 0 |
| 30 Jun 24 | 12,006 | 1,643 | 6,833 | 0 |
| 31 Mar 24 | 11,953 | 1,714 | 6,801 | 0 |
| 31 Dec 23 | 11,899 | 1,821 | 6,812 | 0 |
| 30 Sep 23 | 12,021 | 2,345 | 6,698 | 0 |
| 30 Jun 23 | 12,289 | 2,616 | 6,632 | 0 |
| 31 Mar 23 | 12,104 | 2,602 | 6,527 | 0 |
| 31 Dec 22 | 12,128 | 2,660 | 6,473 | 0 |
| 30 Sep 22 | 12,043 | 2,626 | 6,671 | 0 |
| 30 Jun 22 | 12,076 | 2,650 | 6,680 | 0 |
| 31 Mar 22 | 12,182 | 2,666 | 6,715 | 0 |
| 31 Dec 21 | 12,060 | 2,572 | 6,735 | 0 |
| 30 Sep 21 | 11,917 | 2,408 | 6,534 | 0 |
| 30 Jun 21 | 11,709 | 2,232 | 6,545 | 0 |
| 31 Mar 21 | 11,545 | 2,166 | 6,502 | 0 |
| 31 Dec 20 | 11,615 | 2,257 | 6,433 | 0 |
| 30 Sep 20 | 11,743 | 2,251 | 6,408 | 0 |
| 30 Jun 20 | 11,860 | 2,262 | 6,423 | 0 |
| 31 Mar 20 | 11,847 | 2,137 | 6,466 | 0 |
| 31 Dec 19 | 11,746 | 2,009 | 6,480 | 0 |
| 30 Sep 19 | 11,716 | 1,913 | 6,462 | 0 |
| 30 Jun 19 | 11,799 | 2,093 | 6,512 | 0 |
| 31 Mar 19 | 11,988 | 2,253 | 6,443 | 0 |
| 31 Dec 18 | 12,116 | 2,404 | 6,419 | 0 |
| 30 Sep 18 | 11,949 | 2,342 | 6,131 | 0 |
| 30 Jun 18 | 11,808 | 2,263 | 6,069 | 0 |
| 31 Mar 18 | 11,554 | 2,150 | 6,142 | 0 |
| 31 Dec 17 | 11,264 | 1,972 | 6,089 | 0 |
| 30 Sep 17 | 10,848 | 2,216 | 6,643 | 0 |
| 30 Jun 17 | 10,625 | 2,094 | 6,554 | 0 |
| 31 Mar 17 | 10,387 | 2,095 | 6,411 | 0 |
| 31 Dec 16 | 10,197 | 1,968 | 5,950 | 0 |
| 30 Sep 16 | 10,206 | 1,958 | 5,898 | 0 |
| 30 Jun 16 | 10,195 | 1,990 | 5,960 | 0 |
| 31 Mar 16 | 10,232 | 1,794 | 5,986 | 0 |
| 31 Dec 15 | 10,348 | 1,848 | 6,009 | 0 |
| 30 Sep 15 | 10,416 | 1,759 | 5,973 | 0 |
| 30 Jun 15 | 10,387 | 1,762 | 5,824 | 0 |
Quality Earnings: STT has high quality earnings.
Growing Profit Margin: STT's current net profit margins (19.6%) are lower than last year (20.3%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: STT's earnings have grown by 1.1% per year over the past 5 years.
Accelerating Growth: STT's earnings growth over the past year (6.1%) exceeds its 5-year average (1.1% per year).
Earnings vs Industry: STT earnings growth over the past year (6.1%) did not outperform the Capital Markets industry 39.3%.
Return on Equity
High ROE: STT's Return on Equity (11%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/28 22:55 |
| End of Day Share Price | 2026/06/26 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
State Street Corporation is covered by 40 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Stephen Biggar | Argus Research Company |
| Jason Goldberg | Barclays |
| Lucas Montgomery | Bernstein |