State Street (STT) Financials

$109.83 +1.24 (+1.14%)

As of 01:11 PM Eastern

Annual Income Statements for State Street

This table shows State Street's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	1,980	2,144	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687
Consolidated Net Income / (Loss)	1,980	2,143	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687
Net Income / (Loss) Continuing Operations	1,980	2,142	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687
Total Pre-Tax Income	2,298	2,120	2,995	3,101	2,712	2,899	3,171	3,327	2,316	3,395
Total Revenue	10,360	10,207	11,266	12,125	11,757	11,703	12,027	12,148	11,945	13,000
Net Interest Income / (Expense)	2,088	2,084	2,304	2,671	2,566	2,200	1,905	2,544	2,759	2,923
Total Interest Income	2,488	2,512	2,908	3,662	3,941	2,575	1,908	4,088	9,180	11,977
Investment Securities Interest Income	2,488	2,512	2,908	3,662	3,941	2,575	1,908	4,088	9,180	11,977
Total Interest Expense	400	428	604	991	1,375	375	3.00	1,544	6,421	9,054
Total Non-Interest Income	8,272	8,133	8,962	9,454	9,191	9,503	10,122	9,604	9,186	10,077
Service Charges on Deposit Accounts	1,146	1,099	1,071	1,153	1,058	1,363	1,211	1,376	1,265	1,401
Other Service Charges	309	6,465	7,285	7,758	7,662	7,780	8,385	7,814	7,789	8,317
Other Non-Interest Income	-	562	606	543	471	360	526	414	132	359
Total Non-Interest Expense	8,050	8,077	8,269	9,015	9,034	8,716	8,889	8,801	9,583	9,530
Salaries and Employee Benefits	4,061	4,353	4,394	4,780	4,541	4,450	4,554	4,428	4,744	4,697
Net Occupancy & Equipment Expense	1,466	1,545	1,628	1,824	1,935	2,039	2,105	2,024	2,129	2,266
Other Operating Expenses	2,301	1,763	1,767	2,161	2,245	1,943	1,920	2,046	2,486	2,337
Amortization Expense	197	207	214	226	236	234	245	238	239	230
Restructuring Charge	25	209	266	24	77	50	65	65	-15	0.00
Nonoperating Income / (Expense), net	-	-	-	-	-	-88	33	-20	-46	-75
Income Tax Expense	318	-22	839	508	470	479	478	553	372	708
Basic Earnings per Share	$4.53	$5.03	$5.26	$6.46	$5.43	$6.40	$7.30	$7.28	$5.65	$8.33
Weighted Average Basic Shares Outstanding	407.86M	391.49M	374.79M	371.98M	369.91M	352.87M	352.57M	365.21M	322.34M	297.88M
Diluted Earnings per Share	$4.47	$4.97	$5.19	$6.39	$5.38	$6.32	$7.19	$7.19	$5.58	$8.21
Weighted Average Diluted Shares Outstanding	413.64M	396.09M	380.21M	376.48M	373.67M	357.11M	357.96M	370.11M	326.57M	302.23M
Weighted Average Basic & Diluted Shares Outstanding	407.90M	381.94M	367.65M	378.66M	354.34M	351.79M	366.07M	344.48M	301.94M	288.47M
Cash Dividends to Common per Share	$1.32	$1.44	$1.60	$1.78	$1.98	$2.08	$2.18	$2.40	$2.64	$2.90

This table shows State Street's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	669	789	525	763	422	234	418	711	730	828	644
Consolidated Net Income / (Loss)	690	733	549	763	422	210	463	711	730	783	644
Net Income / (Loss) Continuing Operations	690	733	549	763	422	210	463	711	730	783	644
Total Pre-Tax Income	849	889	688	916	511	201	598	912	925	960	822
Total Revenue	2,959	3,155	3,101	3,110	2,691	3,043	3,138	3,191	3,259	3,412	3,284
Net Interest Income / (Expense)	660	791	766	691	624	678	716	735	723	749	714
Total Interest Income	1,101	1,762	2,027	2,232	2,328	2,593	2,889	2,998	3,081	3,009	2,922
Investment Securities Interest Income	-	-	2,027	2,232	2,328	2,593	2,889	2,998	3,081	3,009	2,922
Total Interest Expense	441	971	1,261	1,541	1,704	1,915	2,173	2,263	2,358	2,260	2,208
Total Non-Interest Income	2,299	2,364	2,335	2,419	2,067	2,365	2,422	2,456	2,536	2,663	2,570
Service Charges on Deposit Accounts	319	367	342	303	313	307	331	336	374	360	362
Other Service Charges	1,870	1,894	1,884	1,999	1,945	1,961	1,995	2,012	2,126	2,184	2,094
Other Non-Interest Income	110	103	109	117	-191	97	96	108	36	119	114
Total Non-Interest Expense	2,110	2,256	2,369	2,212	2,180	2,822	2,513	2,269	2,308	2,440	2,450
Salaries and Employee Benefits	1,042	1,108	1,292	1,123	1,082	1,247	1,252	1,099	1,134	1,212	1,262
Net Occupancy & Equipment Expense	496	522	508	508	512	601	535	560	568	603	600
Other Operating Expenses	501	535	509	521	526	930	666	550	550	571	534
Amortization Expense	58	59	60	60	60	59	60	60	56	54	54
Nonoperating Income / (Expense), net	0.00	-10	-44	18	0.00	-20	-27	-10	-26	-12	-12
Income Tax Expense	159	156	139	153	89	-9.00	135	201	195	177	178
Basic Earnings per Share	$1.82	$1.93	$1.54	$2.20	$1.27	$0.64	$1.38	$2.18	$2.29	$2.48	$2.07
Weighted Average Basic Shares Outstanding	367.79M	365.21M	341.11M	329.38M	313.15M	322.34M	301.99M	300.56M	297.37M	297.88M	288.56M
Diluted Earnings per Share	$1.80	$1.91	$1.52	$2.17	$1.25	$0.64	$1.37	$2.15	$2.26	$2.43	$2.04
Weighted Average Diluted Shares Outstanding	372.42M	370.11M	345.47M	333.54M	317.33M	326.57M	305.94M	304.77M	301.85M	302.23M	292.72M
Weighted Average Basic & Diluted Shares Outstanding	366.94M	344.48M	334.26M	318.64M	308.58M	301.94M	301.26M	298.62M	293.15M	288.47M	285.18M
Cash Dividends to Common per Share	$0.63	$0.63	$0.63	$0.63	$0.69	$0.69	$0.69	$0.69	$0.76	$0.76	$0.76

This table details how cash moves in and out of State Street's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-648	107	800	1,208	90	165	164	339	77	-902
Net Cash From Operating Activities	-1,403	2,290	6,940	10,175	5,690	3,532	-6,710	11,954	690	-13,210
Net Cash From Continuing Operating Activities	-1,403	2,290	6,940	10,175	5,690	3,532	-6,710	11,954	690	-13,210
Net Income / (Loss) Continuing Operations	1,980	2,143	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687
Consolidated Net Income / (Loss)	1,980	2,143	2,156	2,593	2,242	2,420	2,693	2,774	1,944	2,687
Provision For Loan Losses	-	-	-	-	10	88	-33	20	46	75
Depreciation Expense	604	722	871	977	1,101	1,276	1,312	918	643	375
Amortization Expense	197	207	214	226	236	234	245	238	239	230
Non-Cash Adjustments to Reconcile Net Income	1,399	-916	3,705	-1,442	2,315	3,815	-3,266	-747	2,513	-6,664
Changes in Operating Assets and Liabilities, net	-5,583	134	-6.00	7,821	-214	-4,301	-7,661	8,751	-4,695	-9,913
Net Cash From Investing Activities	24,995	4,230	48	-4,496	-2,626	-65,534	-2,172	6,816	12,738	-39,483
Net Cash From Continuing Investing Activities	24,995	4,230	48	-4,496	-2,626	-65,534	-2,172	6,816	12,738	-39,483
Purchase of Property, Leasehold Improvements and Equipment	-703	-613	-637	-609	-730	-560	-811	-734	-816	-926
Purchase of Investment Securities	-35,722	-36,018	-47,357	-47,231	-46,453	-84,471	-67,674	-28,510	-29,614	-52,012
Sale and/or Maturity of Investments	62,434	39,413	49,155	47,301	41,365	21,116	66,206	38,263	44,645	13,442
Net Increase in Fed Funds Sold	-1,014	1,448	-1,285	-1,438	3,192	-1,619	94	-2,203	-1,477	13
Net Cash From Financing Activities	-24,240	-6,413	-6,188	-4,471	-2,974	62,167	9,046	-18,431	-13,351	51,791
Net Cash From Continuing Financing Activities	-24,240	-6,413	-6,188	-4,471	-2,974	62,167	9,046	-18,431	-13,351	51,791
Net Change in Deposits	-17,413	-4,464	-2,266	-4,536	1,512	57,925	15,248	-19,571	-14,491	40,952
Issuance of Debt	2,983	1,492	747	2,943	1,495	2,489	-1,959	5,700	7,784	12,703
Issuance of Preferred Equity	742	493	0.00	495	-	-	-	0.00	0.00	2,323
Repayment of Debt	-8,229	-1,709	-2,492	-1,461	-2,655	1,424	-2,000	-1,965	-1,855	-232
Repurchase of Preferred Equity	-	-	0.00	0.00	-750	-500	-500	0.00	0.00	-1,500
Repurchase of Common Equity	-1,742	-1,487	-1,418	-474	-1,666	-593	-939	-1,623	-3,876	-1,402
Payment of Dividends	-655	-723	-768	-828	-930	-889	-866	-972	-970	-1,033
Other Financing Activities, Net	74	-15	9.00	-1,760	20	2,311	-1,838	0.00	57	-20
Cash Interest Paid	-	441	593	981	1,382	375	37	1,354	6,184	8,951
Cash Income Taxes Paid	-	371	345	549	510	403	559	436	423	451

This table details how cash moves in and out of State Street's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-767	1,222	-272	232	79	38	-634	-515	1,169	-922	1,513
Net Cash From Operating Activities	4,467	7,036	-2,862	-852	222	4,182	-844	-7,644	2,708	-7,430	2,396
Net Cash From Continuing Operating Activities	4,467	7,036	-2,862	-852	222	4,182	-844	-7,644	2,708	-7,430	2,396
Net Income / (Loss) Continuing Operations	690	733	549	763	422	210	463	711	730	783	644
Consolidated Net Income / (Loss)	690	733	549	763	422	210	463	711	730	783	644
Provision For Loan Losses	-	10	44	-18	-	20	27	10	26	12	12
Depreciation Expense	138	360	171	177	163	132	121	101	88	65	34
Amortization Expense	58	59	60	60	60	59	60	60	56	54	54
Non-Cash Adjustments to Reconcile Net Income	157	4,053	-29	-820	-1,550	4,912	-4,142	-76	4,701	-7,147	4,787
Changes in Operating Assets and Liabilities, net	3,424	1,821	-3,657	-1,014	1,127	-1,151	2,627	-8,450	-2,893	-1,197	-3,135
Net Cash From Investing Activities	-5,335	-1,095	14,312	2,086	10,168	-13,828	-41,352	19,178	-6,267	-11,042	-14,607
Net Cash From Continuing Investing Activities	-5,335	-1,095	14,312	2,086	10,168	-13,828	-41,352	19,178	-6,267	-11,042	-14,607
Purchase of Property, Leasehold Improvements and Equipment	-210	-204	-182	-170	-135	-329	-230	-213	-234	-249	-226
Purchase of Investment Securities	-8,406	1,349	-8,710	-5,285	-8,634	-6,985	-12,151	-13,744	-12,300	-13,817	-26,284
Sale and/or Maturity of Investments	-615	1,667	19,122	8,076	19,085	-1,638	-28,174	31,986	8,261	1,369	13,194
Net Increase in Fed Funds Sold	3,896	-3,907	4,082	-535	-148	-4,876	-797	1,149	-1,994	1,655	-1,291
Net Cash From Financing Activities	101	-4,719	-11,722	-1,002	-10,311	9,684	41,562	-12,049	4,728	17,550	13,724
Net Cash From Continuing Financing Activities	101	-4,719	-11,722	-1,002	-10,311	9,684	41,562	-12,049	4,728	17,550	13,724
Net Change in Deposits	-3,673	-2,776	-11,832	-1,313	-9,311	7,965	30,917	-12,725	8,267	14,493	10,132
Issuance of Debt	746	2,965	3,762	546	421	3,055	2,705	-1,709	996	10,711	4,747
Issuance of Preferred Equity	-	-	0.00	-	-	-	1,481	-	842	-	743
Repayment of Debt	55	-438	-2,100	1,076	-2,102	1,271	7,869	-5,982	4,436	-6,555	-1,312
Repurchase of Preferred Equity	-	-	0.00	-	-	-	-1,000	-	-500	-	0.00
Repurchase of Common Equity	-96	-1,527	-1,309	-1,062	-1,012	-493	-161	-213	-463	-565	-157
Payment of Dividends	-230	-268	-243	-249	-227	-251	-243	-263	-249	-278	-266
Other Financing Activities, Net	3,299	-2,675	0.00	-	1,920	-1,863	-6.00	8,843	-8,601	-256	-163
Cash Interest Paid	-	-	-	-	-	-	-	-	-	-	2,074
Cash Income Taxes Paid	20	72	75	140	43	165	118	130	97	106	186

This table presents State Street's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	245,155	242,698	238,425	244,596	245,610	314,706	314,624	301,450	297,258	353,240
Cash and Due from Banks	1,207	1,314	2,107	3,212	3,302	3,467	3,631	3,970	4,047	3,145
Interest Bearing Deposits at Other Banks	75,338	70,935	67,227	73,040	68,965	116,960	106,358	101,593	87,665	112,957
Trading Account Securities	104,275	100,147	101,913	92,601	97,998	111,898	77,169	111,144	109,108	114,069
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	32,053	36,496	43,026
Accrued Investment Income	2,346	2,644	3,099	3,203	3,231	3,105	3,278	3,434	3,806	4,034
Premises and Equipment, Net	1,894	2,062	2,186	2,214	2,282	2,154	2,261	2,315	2,399	2,715
Goodwill	5,671	5,814	6,022	7,446	7,556	7,683	7,621	7,495	7,611	7,691
Intangible Assets	1,768	1,750	1,613	2,369	2,030	1,827	1,816	1,544	1,320	1,089
Other Assets	52,656	58,032	54,258	60,511	60,246	67,612	112,490	37,902	44,806	64,514
Total Liabilities & Shareholders' Equity	245,155	242,698	238,425	244,596	245,610	314,706	314,624	301,450	297,258	353,240
Total Liabilities	224,020	221,479	216,108	219,859	221,179	288,506	287,261	276,259	273,459	327,914
Non-Interest Bearing Deposits	65,800	59,397	47,175	44,804	34,031	49,439	56,461	46,755	32,569	33,180
Interest Bearing Deposits	125,827	127,766	137,721	135,556	147,841	190,359	198,574	188,709	188,401	228,740
Short-Term Debt	6,253	5,985	3,986	4,174	1,941	7,400	1,703	3,274	5,527	13,521
Other Short-Term Payables	-	-	-	24,232	-	27,503	-	22,525	28,123	29,201
Long-Term Debt	11,497	11,430	11,620	11,093	12,509	13,805	13,475	14,996	18,839	23,272
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	21,135	21,219	22,317	24,737	24,431	26,200	27,363	25,191	23,799	25,326
Total Preferred & Common Equity	21,103	21,219	22,317	24,243	24,431	26,200	27,363	25,191	23,799	25,326
Preferred Stock	2,703	3,196	3,196	3,196	2,962	2,471	1,976	1,976	1,976	2,816
Total Common Equity	18,400	18,023	19,121	21,047	21,469	23,729	25,387	23,215	21,823	22,510
Common Stock	10,250	10,286	10,303	10,565	10,636	10,709	11,291	11,234	11,245	11,226
Retained Earnings	16,049	17,459	18,856	20,553	21,918	23,442	25,238	27,028	27,957	29,582
Treasury Stock	-6,457	-7,682	-9,029	-8,715	-10,209	-10,609	-10,009	-11,336	-15,025	-16,198
Accumulated Other Comprehensive Income / (Loss)	-1,442	-2,040	-1,009	-1,356	-876	187	-1,133	-3,711	-2,354	-2,100

This table presents State Street's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	303,568	301,450	290,816	294,561	284,415	297,258	338,003	325,603	338,481	353,240	372,693
Cash and Due from Banks	2,748	3,970	3,698	3,930	4,009	4,047	3,413	2,898	4,067	3,145	4,658
Interest Bearing Deposits at Other Banks	99,199	101,593	87,935	86,048	76,756	87,665	125,486	99,876	105,121	112,957	119,464
Trading Account Securities	42,979	111,144	109,697	108,939	106,043	109,108	109,803	114,926	115,466	114,069	121,663
Loans and Leases, Net of Allowance	0.00	32,053	33,801	34,003	35,317	36,496	38,500	39,240	41,799	43,026	44,509
Accrued Investment Income	3,526	3,434	3,570	3,732	3,874	3,806	4,014	4,066	4,160	4,034	4,280
Premises and Equipment, Net	2,283	2,315	2,337	2,349	2,334	2,399	2,479	2,539	2,621	2,715	2,784
Goodwill	7,351	7,495	7,530	7,544	7,487	7,611	7,582	7,751	7,833	7,691	7,763
Intangible Assets	1,568	1,544	1,493	1,435	1,363	1,320	1,258	1,209	1,166	1,089	1,046
Other Assets	143,914	37,902	40,755	46,581	47,232	44,806	45,468	53,098	56,248	64,514	66,526
Total Liabilities & Shareholders' Equity	303,568	301,450	290,816	294,561	284,415	297,258	338,003	325,603	338,481	353,240	372,693
Total Liabilities	277,920	276,259	266,066	270,357	260,794	273,459	313,570	300,841	312,653	327,914	346,001
Non-Interest Bearing Deposits	55,894	46,755	45,856	36,455	35,824	32,569	37,367	34,519	31,448	33,180	32,265
Interest Bearing Deposits	182,342	188,709	177,775	185,861	177,177	188,401	214,517	204,641	215,981	228,740	239,791
Short-Term Debt	4,359	3,274	3,703	4,347	3,105	5,527	15,117	16,287	12,137	13,521	15,373
Other Short-Term Payables	21,326	22,525	22,427	26,516	26,124	28,123	26,823	25,657	32,185	29,201	33,726
Long-Term Debt	13,999	14,996	16,305	17,178	18,564	18,839	19,746	19,737	20,902	23,272	24,846
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	25,648	25,191	24,750	24,204	23,621	23,799	24,433	24,762	25,828	25,326	26,692
Total Preferred & Common Equity	25,648	25,191	24,750	24,204	23,621	23,799	24,433	24,762	25,828	25,326	26,692
Preferred Stock	1,976	1,976	1,976	1,976	1,976	1,976	2,468	2,468	2,816	2,816	3,559
Total Common Equity	23,672	23,215	22,774	22,228	21,645	21,823	21,965	22,294	23,012	22,510	23,133
Common Stock	11,264	11,234	11,228	11,233	11,239	11,245	11,228	11,225	11,227	11,226	11,197
Retained Earnings	26,552	27,028	27,342	27,808	27,993	27,957	28,166	28,615	29,073	29,582	29,959
Treasury Stock	-9,876	-11,336	-12,524	-13,555	-14,542	-15,025	-15,060	-15,232	-15,663	-16,198	-16,231
Accumulated Other Comprehensive Income / (Loss)	-4,268	-3,711	-3,272	-3,258	-3,045	-2,354	-2,369	-2,314	-1,625	-2,100	-1,792

This table displays calculated financial ratios and metrics derived from State Street's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.84%	-1.48%	10.38%	7.62%	-3.04%	-0.46%	2.77%	1.01%	-1.67%	8.83%
EBITDA Growth	-1.18%	-1.61%	33.81%	5.34%	-5.77%	11.04%	4.40%	-4.09%	-27.96%	25.62%
EBIT Growth	-5.70%	-7.75%	41.27%	3.34%	-12.34%	10.10%	5.06%	6.66%	-29.43%	46.91%
NOPAT Growth	-2.08%	8.18%	0.65%	20.27%	-13.54%	11.22%	6.88%	4.72%	-28.96%	38.52%
Net Income Growth	-2.08%	8.23%	0.61%	20.27%	-13.54%	7.94%	11.28%	3.01%	-29.92%	38.22%
EPS Growth	-1.32%	11.19%	4.43%	23.12%	-15.81%	17.47%	13.77%	0.00%	-22.39%	47.13%
Operating Cash Flow Growth	-150.09%	263.22%	203.06%	46.61%	-44.08%	-37.93%	-289.98%	278.15%	-94.23%	-2,014.49%
Free Cash Flow Firm Growth	1,020.73%	-69.21%	19.81%	-82.14%	557.23%	-279.21%	224.85%	-75.15%	-245.48%	-311.84%
Invested Capital Growth	-12.96%	-0.65%	-1.84%	5.49%	-2.81%	21.92%	-10.26%	2.16%	10.82%	28.97%
Revenue Q/Q Growth	-0.68%	-0.08%	3.80%	0.62%	0.26%	-1.09%	1.13%	0.85%	-0.93%	2.92%
EBITDA Q/Q Growth	5.30%	-8.58%	13.90%	-5.50%	3.82%	70.41%	-26.46%	5.53%	-21.83%	19.99%
EBIT Q/Q Growth	6.09%	-13.65%	18.52%	-8.57%	4.43%	3.21%	2.62%	5.55%	-22.30%	27.62%
NOPAT Q/Q Growth	5.32%	0.75%	-10.17%	3.51%	6.00%	1.90%	5.21%	1.92%	-20.59%	25.95%
Net Income Q/Q Growth	5.26%	0.80%	-10.17%	3.51%	6.00%	-1.10%	6.32%	1.31%	-21.20%	27.11%
EPS Q/Q Growth	6.18%	1.64%	-9.90%	2.73%	6.75%	0.48%	5.89%	1.70%	-18.54%	27.88%
Operating Cash Flow Q/Q Growth	67.96%	-59.50%	270.92%	-28.06%	-1.06%	192.14%	11.26%	30.72%	-80.53%	-726.66%
Free Cash Flow Firm Q/Q Growth	1,066.82%	-67.84%	1.27%	-87.96%	162.72%	-21.00%	-44.45%	790.80%	-324.43%	1.66%
Invested Capital Q/Q Growth	-13.74%	-2.84%	-3.58%	6.43%	-13.73%	-9.70%	2.56%	-1.24%	6.35%	5.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	29.91%	29.87%	36.22%	35.45%	34.45%	38.43%	39.04%	37.07%	27.16%	31.35%
EBIT Margin	22.18%	20.77%	26.58%	25.53%	23.08%	25.52%	26.09%	27.55%	19.77%	26.69%
Profit (Net Income) Margin	19.11%	21.00%	19.14%	21.39%	19.07%	20.68%	22.39%	22.84%	16.27%	20.67%
Tax Burden Percent	86.16%	101.08%	71.99%	83.62%	82.67%	83.48%	84.93%	83.38%	83.94%	79.15%
Interest Burden Percent	100.00%	100.00%	100.00%	100.19%	99.96%	97.05%	101.05%	99.40%	98.05%	97.84%
Effective Tax Rate	13.84%	-1.04%	28.01%	16.38%	17.33%	16.52%	15.07%	16.62%	16.06%	20.85%
Return on Invested Capital (ROIC)	4.74%	5.53%	5.63%	6.65%	5.68%	5.78%	5.93%	6.49%	4.33%	4.98%
ROIC Less NNEP Spread (ROIC-NNEP)	4.74%	5.53%	5.63%	6.65%	5.68%	5.37%	6.08%	6.39%	4.15%	4.79%
Return on Net Nonoperating Assets (RNNOA)	4.59%	4.59%	4.27%	4.37%	3.44%	3.78%	4.13%	4.07%	3.61%	5.96%
Return on Equity (ROE)	9.33%	10.12%	9.90%	11.02%	9.12%	9.56%	10.06%	10.56%	7.94%	10.94%
Cash Return on Invested Capital (CROIC)	18.60%	6.17%	7.49%	1.31%	8.53%	-13.98%	16.74%	4.35%	-5.94%	-20.33%
Operating Return on Assets (OROA)	0.89%	0.87%	1.25%	1.28%	1.11%	1.07%	1.00%	1.09%	0.79%	1.07%
Return on Assets (ROA)	0.76%	0.88%	0.90%	1.07%	0.91%	0.86%	0.86%	0.90%	0.65%	0.83%
Return on Common Equity (ROCE)	8.29%	8.70%	8.45%	9.41%	7.89%	8.53%	9.22%	9.76%	7.30%	9.87%
Return on Equity Simple (ROE_SIMPLE)	9.38%	10.10%	9.66%	10.70%	9.18%	9.24%	9.84%	11.01%	8.17%	10.61%
Net Operating Profit after Tax (NOPAT)	1,980	2,142	2,156	2,593	2,242	2,493	2,665	2,791	1,983	2,746
NOPAT Margin	19.11%	20.99%	19.14%	21.39%	19.07%	21.31%	22.16%	22.97%	16.60%	21.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.01%	0.00%	0.00%	0.00%	0.41%	-0.15%	0.10%	0.18%	0.19%
SG&A Expenses to Revenue	53.35%	57.78%	53.45%	54.47%	55.08%	55.45%	55.37%	53.11%	57.54%	53.56%
Operating Expenses to Revenue	77.70%	79.13%	73.40%	74.35%	76.84%	74.48%	73.91%	72.45%	80.23%	73.31%
Earnings before Interest and Taxes (EBIT)	2,298	2,120	2,995	3,095	2,713	2,987	3,138	3,347	2,362	3,470
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,099	3,049	4,080	4,298	4,050	4,497	4,695	4,503	3,244	4,075
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.14	1.34	1.55	0.95	1.16	0.97	1.23	1.14	1.06	1.27
Price to Tangible Book Value (P/TBV)	1.92	2.31	2.58	1.78	2.09	1.61	1.95	1.87	1.79	2.08
Price to Revenue (P/Rev)	2.03	2.36	2.63	1.65	2.11	1.96	2.59	2.18	1.93	2.20
Price to Earnings (P/E)	10.63	11.24	13.74	7.72	11.07	9.47	11.56	9.56	11.88	10.63
Dividend Yield	2.53%	2.30%	2.00%	3.37%	2.90%	3.20%	2.56%	3.32%	3.53%	2.91%
Earnings Yield	9.41%	8.89%	7.28%	12.95%	9.04%	10.55%	8.65%	10.46%	8.42%	9.41%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.84	0.82	0.70	0.62	0.59	0.81	0.55	0.73	1.02	1.45
Long-Term Debt to Equity	0.54	0.54	0.52	0.45	0.51	0.53	0.49	0.60	0.79	0.92
Financial Leverage	0.97	0.83	0.76	0.66	0.60	0.70	0.68	0.64	0.87	1.25
Leverage Ratio	12.23	11.52	11.05	10.27	9.97	11.07	11.75	11.72	12.22	13.24
Compound Leverage Factor	12.23	11.52	11.05	10.29	9.97	10.74	11.87	11.65	11.98	12.96
Debt to Total Capital	45.65%	45.08%	41.15%	38.16%	37.16%	44.73%	35.68%	42.04%	50.59%	59.23%
Short-Term Debt to Total Capital	16.08%	15.49%	10.51%	10.43%	4.99%	15.61%	4.00%	7.53%	11.48%	21.77%
Long-Term Debt to Total Capital	29.57%	29.59%	30.64%	27.73%	32.17%	29.12%	31.68%	34.50%	39.11%	37.46%
Preferred Equity to Total Capital	6.95%	8.27%	8.43%	7.99%	7.62%	5.21%	4.64%	4.55%	4.10%	4.53%
Noncontrolling Interests to Total Capital	0.08%	0.00%	0.00%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.32%	46.65%	50.42%	52.61%	55.22%	50.06%	59.68%	53.42%	45.31%	36.24%
Debt to EBITDA	5.73	5.71	3.83	3.55	3.57	4.72	3.23	4.06	7.51	9.03
Net Debt to EBITDA	-18.97	-17.98	-13.17	-14.19	-14.28	-22.06	-20.19	-19.39	-20.76	-19.46
Long-Term Debt to EBITDA	3.71	3.75	2.85	2.58	3.09	3.07	2.87	3.33	5.81	5.71
Debt to NOPAT	8.96	8.13	7.24	5.89	6.45	8.50	5.70	6.55	12.29	13.40
Net Debt to NOPAT	-29.69	-25.60	-24.92	-23.52	-25.79	-39.79	-35.58	-31.28	-33.97	-28.88
Long-Term Debt to NOPAT	5.81	5.34	5.39	4.28	5.58	5.54	5.06	5.37	9.50	8.47
Noncontrolling Interest Sharing Ratio	11.06%	14.00%	14.68%	14.63%	13.53%	10.73%	8.30%	7.52%	8.07%	9.75%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7,771	2,393	2,867	512	3,365	-6,031	7,529	1,871	-2,721	-11,208
Operating Cash Flow to CapEx	-199.57%	373.57%	1,089.48%	1,670.77%	779.45%	630.71%	-827.37%	1,628.61%	84.56%	-1,426.57%
Free Cash Flow to Firm to Interest Expense	19.43	5.59	4.75	0.52	2.45	-16.08	2,509.66	1.21	-0.42	-1.24
Operating Cash Flow to Interest Expense	-3.51	5.35	11.49	10.27	4.14	9.42	-2,236.67	7.74	0.11	-1.46
Operating Cash Flow Less CapEx to Interest Expense	-5.27	3.92	10.44	9.65	3.61	7.93	-2,507.00	7.27	-0.02	-1.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	5.41	5.16	5.30	5.51	5.23	5.28	5.45	5.31	5.07	5.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	38,885	38,634	37,923	40,004	38,881	47,405	42,541	43,461	48,165	62,119
Invested Capital Turnover	0.25	0.26	0.29	0.31	0.30	0.27	0.27	0.28	0.26	0.24
Increase / (Decrease) in Invested Capital	-5,791	-251	-711	2,081	-1,123	8,524	-4,864	920	4,704	13,954
Enterprise Value (EV)	-35,013	-27,530	-20,903	-37,272	-30,041	-73,822	-61,697	-58,804	-42,284	-47,943
Market Capitalization	21,047	24,108	29,629	20,023	24,814	22,929	31,138	26,513	23,086	28,550
Book Value per Share	$45.60	$46.72	$51.56	$55.45	$59.04	$67.26	$69.43	$63.27	$70.72	$76.79
Tangible Book Value per Share	$27.17	$27.11	$30.97	$29.59	$32.68	$40.30	$43.62	$38.63	$41.78	$46.84
Total Capital	38,885	38,634	37,923	40,004	38,881	47,405	42,541	43,461	48,165	62,119
Total Debt	17,750	17,415	15,606	15,267	14,450	21,205	15,178	18,270	24,366	36,793
Total Long-Term Debt	11,497	11,430	11,620	11,093	12,509	13,805	13,475	14,996	18,839	23,272
Net Debt	-58,795	-54,834	-53,728	-60,985	-57,817	-99,222	-94,811	-87,293	-67,346	-79,309
Capital Expenditures (CapEx)	703	613	637	609	730	560	811	734	816	926
Net Nonoperating Expense (NNE)	0.00	-1.00	0.00	0.00	0.00	73	-28	17	39	59
Net Nonoperating Obligations (NNO)	17,750	17,415	15,606	15,267	14,450	21,205	15,178	18,270	24,366	36,793
Total Depreciation and Amortization (D&A)	801	929	1,085	1,203	1,337	1,510	1,557	1,156	882	605
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.53	$5.03	$5.32	$6.48	$5.43	$6.40	$7.30	$7.28	$5.65	$8.33
Adjusted Weighted Average Basic Shares Outstanding	407.86M	391.49M	374.79M	371.98M	369.91M	352.87M	352.57M	365.21M	322.34M	297.88M
Adjusted Diluted Earnings per Share	$4.47	$4.97	$5.24	$6.40	$5.38	$6.32	$7.19	$7.19	$5.58	$8.21
Adjusted Weighted Average Diluted Shares Outstanding	413.64M	396.09M	380.21M	376.48M	373.67M	357.11M	357.96M	370.11M	326.57M	302.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$5.43	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	400.02M	381.94M	367.65M	378.66M	354.34M	351.79M	366.07M	344.48M	301.94M	288.47M
Normalized Net Operating Profit after Tax (NOPAT)	2,002	1,630	2,347	2,613	2,306	2,535	2,720	2,845	1,970	2,746
Normalized NOPAT Margin	19.32%	15.97%	20.84%	21.55%	19.61%	21.66%	22.62%	23.42%	16.49%	21.13%
Pre Tax Income Margin	22.18%	20.77%	26.58%	25.58%	23.07%	24.77%	26.37%	27.39%	19.39%	26.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.75	4.95	4.96	3.12	1.97	7.97	1,046.00	2.17	0.37	0.38
NOPAT to Interest Expense	4.95	5.00	3.57	2.62	1.63	6.65	888.32	1.81	0.31	0.30
EBIT Less CapEx to Interest Expense	3.99	3.52	3.90	2.51	1.44	6.47	775.67	1.69	0.24	0.28
NOPAT Less CapEx to Interest Expense	3.19	3.57	2.51	2.00	1.10	5.16	617.99	1.33	0.18	0.20
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.08%	33.74%	35.62%	31.93%	41.48%	36.74%	32.16%	35.04%	49.90%	38.44%
Augmented Payout Ratio	121.06%	103.13%	101.39%	50.21%	115.79%	61.24%	67.03%	93.55%	249.28%	90.62%

This table displays calculated financial ratios and metrics derived from State Street's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.04%	3.34%	0.65%	5.32%	-9.06%	-3.55%	1.19%	2.60%	21.11%	12.13%	4.65%
EBITDA Growth	-16.47%	21.81%	-8.02%	3.84%	-29.76%	-68.74%	-16.30%	-4.58%	49.18%	164.81%	14.39%
EBIT Growth	-2.86%	24.34%	-2.92%	6.27%	-39.81%	-75.42%	-14.62%	2.67%	86.11%	339.82%	33.44%
NOPAT Growth	-3.25%	6.35%	-3.29%	-1.05%	-38.84%	-68.85%	-17.16%	-3.91%	77.85%	243.35%	35.03%
Net Income Growth	-3.36%	5.17%	-9.11%	2.14%	-38.84%	-71.35%	-15.66%	-6.82%	72.99%	272.86%	39.09%
EPS Growth	-8.16%	6.70%	-3.18%	13.61%	-30.56%	-66.49%	-9.87%	-0.92%	80.80%	279.69%	48.91%
Operating Cash Flow Growth	1,051.29%	66.45%	-162.41%	79.40%	-95.03%	-40.56%	70.51%	-797.18%	1,119.82%	-277.67%	383.89%
Free Cash Flow Firm Growth	-115.67%	-103.21%	107.49%	-6,278.84%	53.10%	-2,402.37%	-5,361.53%	-207.69%	-1,387.99%	-194.23%	50.47%
Invested Capital Growth	6.09%	2.16%	0.71%	13.41%	2.92%	10.82%	32.48%	32.93%	29.98%	28.97%	12.84%
Revenue Q/Q Growth	0.20%	6.62%	-1.71%	0.29%	-13.47%	13.08%	3.12%	1.69%	2.13%	4.69%	-3.75%
EBITDA Q/Q Growth	-4.39%	26.12%	-26.93%	17.86%	-35.33%	-43.87%	95.63%	34.37%	1.11%	-0.37%	-15.49%
EBIT Q/Q Growth	0.47%	5.89%	-18.58%	22.68%	-43.10%	-56.75%	182.81%	47.52%	3.15%	2.21%	-14.20%
NOPAT Q/Q Growth	-8.72%	7.43%	-21.20%	28.06%	-43.58%	-45.29%	109.58%	48.54%	4.41%	5.63%	-17.58%
Net Income Q/Q Growth	-7.63%	6.23%	-25.10%	38.98%	-44.69%	-50.24%	120.48%	53.56%	2.67%	7.26%	-17.75%
EPS Q/Q Growth	-5.76%	6.11%	-20.42%	42.76%	-42.40%	-48.80%	114.06%	56.93%	5.12%	7.52%	-16.05%
Operating Cash Flow Q/Q Growth	208.03%	57.51%	-140.68%	70.23%	126.06%	1,783.78%	-120.18%	-805.69%	135.43%	-374.37%	132.25%
Free Cash Flow Firm Q/Q Growth	-2,415.95%	90.27%	249.43%	-1,844.59%	81.50%	-418.92%	-214.19%	-2.02%	10.54%	-2.61%	47.11%
Invested Capital Q/Q Growth	9.14%	-1.24%	2.98%	2.17%	-0.96%	6.35%	23.11%	2.51%	-3.16%	5.52%	7.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	35.32%	41.78%	31.05%	36.50%	27.28%	13.54%	25.69%	33.94%	33.60%	31.98%	28.08%
EBIT Margin	28.69%	28.49%	23.61%	28.87%	18.99%	7.26%	19.92%	28.89%	29.18%	28.49%	25.40%
Profit (Net Income) Margin	23.32%	23.23%	17.70%	24.53%	15.68%	6.90%	14.75%	22.28%	22.40%	22.95%	19.61%
Tax Burden Percent	81.27%	82.45%	79.80%	83.30%	82.58%	104.48%	77.42%	77.96%	78.92%	81.56%	78.35%
Interest Burden Percent	100.00%	98.89%	93.99%	102.00%	100.00%	90.95%	95.68%	98.92%	97.27%	98.77%	98.56%
Effective Tax Rate	18.73%	17.55%	20.20%	16.70%	17.42%	-4.48%	22.58%	22.04%	21.08%	18.44%	21.65%
Return on Invested Capital (ROIC)	6.57%	6.64%	5.14%	6.89%	4.23%	1.98%	3.55%	5.10%	5.59%	5.48%	4.14%
ROIC Less NNEP Spread (ROIC-NNEP)	6.57%	6.59%	4.96%	6.97%	4.23%	1.88%	3.48%	5.08%	5.51%	5.45%	4.12%
Return on Net Nonoperating Assets (RNNOA)	4.04%	4.19%	3.72%	5.03%	3.44%	1.64%	3.88%	5.96%	6.10%	6.78%	6.05%
Return on Equity (ROE)	10.61%	10.83%	8.86%	11.92%	7.68%	3.61%	7.43%	11.07%	11.68%	12.26%	10.20%
Cash Return on Invested Capital (CROIC)	0.49%	4.35%	5.51%	-6.14%	2.72%	-5.94%	-24.33%	-24.79%	-21.88%	-20.33%	-7.45%
Operating Return on Assets (OROA)	1.10%	1.12%	0.94%	1.20%	0.78%	0.29%	0.76%	1.12%	1.18%	1.14%	0.94%
Return on Assets (ROA)	0.90%	0.92%	0.70%	1.02%	0.64%	0.28%	0.56%	0.87%	0.91%	0.92%	0.73%
Return on Common Equity (ROCE)	9.82%	10.02%	8.17%	10.98%	7.06%	3.32%	6.76%	10.06%	10.55%	11.06%	8.99%
Return on Equity Simple (ROE_SIMPLE)	10.68%	0.00%	10.99%	11.30%	10.44%	0.00%	7.60%	7.29%	8.18%	0.00%	10.74%
Net Operating Profit after Tax (NOPAT)	690	741	584	748	422	231	484	719	751	793	653
NOPAT Margin	23.32%	23.49%	18.84%	24.05%	15.68%	7.59%	15.42%	22.53%	23.03%	23.24%	19.90%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.05%	0.18%	-0.08%	0.00%	0.10%	0.08%	0.03%	0.08%	0.03%	0.03%
SG&A Expenses to Revenue	51.98%	51.66%	58.05%	52.44%	59.23%	60.73%	56.95%	51.99%	52.22%	53.19%	56.70%
Operating Expenses to Revenue	71.31%	71.51%	76.39%	71.13%	81.01%	92.74%	80.08%	71.11%	70.82%	71.51%	74.60%
Earnings before Interest and Taxes (EBIT)	849	899	732	898	511	221	625	922	951	972	834
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,045	1,318	963	1,135	734	412	806	1,083	1,095	1,091	922
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.89	1.14	1.09	1.06	0.95	1.06	1.08	0.99	1.14	1.27	1.11
Price to Tangible Book Value (P/TBV)	1.42	1.87	1.81	1.78	1.61	1.79	1.80	1.66	1.87	2.08	1.79
Price to Revenue (P/Rev)	1.74	2.18	2.05	1.91	1.71	1.93	1.97	1.83	2.07	2.20	1.95
Price to Earnings (P/E)	7.67	9.56	9.65	8.95	8.63	11.88	12.87	12.37	12.51	10.63	8.93
Dividend Yield	4.10%	3.32%	3.40%	3.58%	3.99%	3.53%	3.52%	3.68%	3.15%	2.91%	3.27%
Earnings Yield	13.04%	10.46%	10.37%	11.17%	11.59%	8.42%	7.77%	8.08%	7.99%	9.41%	11.20%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.72	0.73	0.81	0.89	0.92	1.02	1.43	1.45	1.28	1.45	1.51
Long-Term Debt to Equity	0.55	0.60	0.66	0.71	0.79	0.79	0.81	0.80	0.81	0.92	0.93
Financial Leverage	0.61	0.64	0.75	0.72	0.81	0.87	1.12	1.18	1.11	1.25	1.47
Leverage Ratio	11.83	11.72	12.03	11.90	11.93	12.22	12.79	12.67	12.60	13.24	13.90
Compound Leverage Factor	11.83	11.59	11.31	12.14	11.93	11.12	12.23	12.53	12.25	13.08	13.70
Debt to Total Capital	41.72%	42.04%	44.70%	47.07%	47.85%	50.59%	58.79%	59.26%	56.12%	59.23%	60.11%
Short-Term Debt to Total Capital	9.91%	7.53%	8.27%	9.51%	6.86%	11.48%	25.49%	26.79%	20.62%	21.77%	22.98%
Long-Term Debt to Total Capital	31.81%	34.50%	36.43%	37.56%	40.99%	39.11%	33.30%	32.47%	35.51%	37.46%	37.13%
Preferred Equity to Total Capital	4.49%	4.55%	4.41%	4.32%	4.36%	4.10%	4.16%	4.06%	4.78%	4.53%	5.32%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.79%	53.42%	50.88%	48.61%	47.79%	45.31%	37.04%	36.68%	39.09%	36.24%	34.57%
Debt to EBITDA	4.30	4.06	4.53	4.83	5.22	7.51	11.29	11.87	9.73	9.03	9.60
Net Debt to EBITDA	-19.59	-19.39	-16.21	-15.34	-14.24	-20.76	-30.46	-21.99	-22.42	-19.46	-20.02
Long-Term Debt to EBITDA	3.28	3.33	3.69	3.85	4.47	5.81	6.40	6.50	6.15	5.71	5.93
Debt to NOPAT	6.70	6.55	7.22	7.79	8.68	12.29	18.52	19.45	15.15	13.40	13.79
Net Debt to NOPAT	-30.53	-31.28	-25.84	-24.76	-23.67	-33.97	-49.96	-36.04	-34.92	-28.88	-28.78
Long-Term Debt to NOPAT	5.11	5.37	5.88	6.21	7.44	9.50	10.49	10.66	9.59	8.47	8.52
Noncontrolling Interest Sharing Ratio	7.46%	7.52%	7.75%	7.91%	8.02%	8.07%	9.04%	9.08%	9.69%	9.75%	11.79%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,838	-179	267	-4,660	-862	-4,473	-14,054	-14,338	-12,826	-13,161	-6,962
Operating Cash Flow to CapEx	2,127.14%	3,449.02%	-1,572.53%	-501.18%	164.44%	1,271.12%	-366.96%	-3,588.73%	1,157.27%	-2,983.94%	1,060.18%
Free Cash Flow to Firm to Interest Expense	-4.17	-0.18	0.21	-3.02	-0.51	-2.34	-6.47	-6.34	-5.44	-5.82	-3.15
Operating Cash Flow to Interest Expense	10.13	7.25	-2.27	-0.55	0.13	2.18	-0.39	-3.38	1.15	-3.29	1.09
Operating Cash Flow Less CapEx to Interest Expense	9.65	7.04	-2.41	-0.66	0.05	2.01	-0.49	-3.47	1.05	-3.40	0.98
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	5.38	5.31	5.33	5.37	5.22	5.07	4.98	4.94	5.10	5.08	5.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	44,006	43,461	44,758	45,729	45,290	48,165	59,296	60,786	58,867	62,119	66,911
Invested Capital Turnover	0.28	0.28	0.27	0.29	0.27	0.26	0.23	0.23	0.24	0.24	0.21
Increase / (Decrease) in Invested Capital	2,528	920	317	5,408	1,284	4,704	14,538	15,057	13,577	13,954	7,615
Enterprise Value (EV)	-60,616	-58,804	-44,751	-42,916	-36,535	-42,284	-67,931	-42,197	-47,141	-47,943	-54,737
Market Capitalization	20,997	26,513	24,898	23,561	20,585	23,086	23,637	22,085	26,192	28,550	25,607
Book Value per Share	$64.39	$63.27	$66.11	$66.50	$67.93	$70.72	$72.73	$74.00	$77.06	$76.79	$80.19
Tangible Book Value per Share	$40.13	$38.63	$39.92	$39.64	$40.16	$41.78	$43.46	$44.26	$46.93	$46.84	$49.66
Total Capital	44,006	43,461	44,758	45,729	45,290	48,165	59,296	60,786	58,867	62,119	66,911
Total Debt	18,358	18,270	20,008	21,525	21,669	24,366	34,863	36,024	33,039	36,793	40,219
Total Long-Term Debt	13,999	14,996	16,305	17,178	18,564	18,839	19,746	19,737	20,902	23,272	24,846
Net Debt	-83,589	-87,293	-71,625	-68,453	-59,096	-67,346	-94,036	-66,750	-76,149	-79,309	-83,903
Capital Expenditures (CapEx)	210	204	182	170	135	329	230	213	234	249	226
Net Nonoperating Expense (NNE)	0.00	8.25	35	-15	0.00	21	21	7.80	21	9.79	9.40
Net Nonoperating Obligations (NNO)	18,358	18,270	20,008	21,525	21,669	24,366	34,863	36,024	33,039	36,793	40,219
Total Depreciation and Amortization (D&A)	196	419	231	237	223	191	181	161	144	119	88
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.82	$1.93	$1.54	$2.20	$1.27	$0.64	$1.38	$2.18	$2.29	$2.48	$2.07
Adjusted Weighted Average Basic Shares Outstanding	367.79M	365.21M	341.11M	329.38M	313.15M	322.34M	301.99M	300.56M	297.37M	297.88M	288.56M
Adjusted Diluted Earnings per Share	$1.80	$1.91	$1.52	$2.17	$1.25	$0.64	$1.37	$2.15	$2.26	$2.43	$2.04
Adjusted Weighted Average Diluted Shares Outstanding	372.42M	370.11M	345.47M	333.54M	317.33M	326.57M	305.94M	304.77M	301.85M	302.23M	292.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	366.94M	344.48M	334.26M	318.64M	308.58M	301.94M	301.26M	298.62M	293.15M	288.47M	285.18M
Normalized Net Operating Profit after Tax (NOPAT)	701	767	584	748	422	155	484	719	751	793	653
Normalized NOPAT Margin	23.68%	24.30%	18.84%	24.05%	15.68%	5.08%	15.42%	22.53%	23.03%	23.24%	19.90%
Pre Tax Income Margin	28.69%	28.18%	22.19%	29.45%	18.99%	6.61%	19.06%	28.58%	28.38%	28.14%	25.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.93	0.93	0.58	0.58	0.30	0.12	0.29	0.41	0.40	0.43	0.38
NOPAT to Interest Expense	1.56	0.76	0.46	0.49	0.25	0.12	0.22	0.32	0.32	0.35	0.30
EBIT Less CapEx to Interest Expense	1.45	0.72	0.44	0.47	0.22	-0.06	0.18	0.31	0.30	0.32	0.28
NOPAT Less CapEx to Interest Expense	1.09	0.55	0.32	0.38	0.17	-0.05	0.12	0.22	0.22	0.24	0.19
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.59%	35.04%	36.26%	36.20%	40.01%	49.90%	52.21%	54.49%	47.59%	38.44%	36.82%
Augmented Payout Ratio	39.30%	93.55%	144.10%	182.23%	239.04%	249.28%	199.03%	158.53%	110.50%	90.62%	85.56%

Key Financial Trends

The latest financial results for State Street (NYSE: STT) for Q1 2025 show mixed trends when compared with previous quarters and years.

Q1 2025 net income was $644 million, a solid figure though down slightly from $783 million in Q4 2024, indicating continued profitability.
Net interest income remains stable with $714 million in Q1 2025, close to $749 million in Q4 2024, demonstrating steady core banking income.
Non-interest income for Q1 2025 was $2.57 billion, slightly lower than $2.66 billion in Q4 2024, showing continued diversified fee income streams.
Total revenue for Q1 2025 was $3.28 billion, compared to $3.41 billion in Q4 2024, a modest decline but still robust revenue generation.
Total non-interest expenses remained essentially flat between Q4 2024 ($2.44 billion) and Q1 2025 ($2.45 billion), indicating steady cost control.
Basic earnings per share were $2.07 in Q1 2025, compared with $2.48 in Q4 2024, impacted slightly by fewer shares outstanding and lower net income.
Cash flow from operating activities returned to positive territory in Q1 2025 at $2.40 billion vs. a negative $7.43 billion in Q4 2024, showing improved cash generation.
Investing cash flows were significantly negative at -$14.6 billion in Q1 2025, primarily driven by large investment securities purchases, indicating substantial capital deployment.
Financing activities contributed a strong $13.7 billion in cash inflows in Q1 2025, mainly from net deposit increases and issuance of debt, providing liquidity support.
Total assets increased from $353.2 billion at end 2024 to $372.7 billion at Q1 2025, reflecting balance sheet growth and expanding financial activities.

Summary: Over the last year, State Street has generally grown its asset base and maintained strong net interest income and fee income streams, despite some quarter-to-quarter fluctuations. Cost control remains effective with stable non-interest expenses. Improved operating cash flow in the latest quarter is encouraging. However, the large investment outflows in investing activities warrant monitoring as it reflects heavy capital deployment, which if not managed well, could impact liquidity. Earnings per share have seen some pressure compared to the year-ago period, but the overall profitability remains solid.

Investors should watch how State Street balances investment activity with ongoing cash generation, and whether revenue growth can resume following recent slight declines. The stable deposit base and funding suggest a resilient business model amid current market conditions.

08/04/25 12:11 PMAI Generated. May Contain Errors.

Frequently Asked Questions About State Street's Financials

When does State Street's fiscal year end?

According to the most recent income statement we have on file, State Street's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has State Street's net income changed over the last 9 years?

State Street's net income appears to be on an upward trend, with a most recent value of $2.69 billion in 2024, rising from $1.98 billion in 2015. The previous period was $1.94 billion in 2023. Check out State Street's forecast to explore projected trends and price targets.

How has State Street's revenue changed over the last 9 years?

Over the last 9 years, State Street's total revenue changed from $10.36 billion in 2015 to $13 billion in 2024, a change of 25.5%.

How much debt does State Street have?

State Street's total liabilities were at $327.91 billion at the end of 2024, a 19.9% increase from 2023, and a 46.4% increase since 2015.

How much cash does State Street have?

In the past 9 years, State Street's cash and equivalents has ranged from $1.21 billion in 2015 to $4.05 billion in 2023, and is currently $3.15 billion as of their latest financial filing in 2024.

How has State Street's book value per share changed over the last 9 years?

Over the last 9 years, State Street's book value per share changed from 45.60 in 2015 to 76.79 in 2024, a change of 68.4%.

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This page (NYSE:STT) was last updated on 8/4/2025 by MarketBeat.com Staff

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State Street (STT) Financials

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State Street (STT) Financials

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