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Earnings transcript
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STT
State Street Corporation
$166.89
-7.21
(-4.14%)
| Exchange: | NYSE |
| Market Cap: | 45.845B |
| Shares Outstanding: | 276.5M |
Delayed data
About The Company
| Sector: | Financial ServicesView sector performance | |||||
| Industry: | Asset ManagementView industry performance | |||||
| CEO: | Ronald Philip O’Hanley | |||||
| Full Time Employees: | 50596 | |||||
| Address: |
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| Website: | https://www.statestreet.com |
State Street Corporation (STT) is a well-established global financial services firm that delivers a wide array of financial products and specialized services to institutional investors worldwide. The company’s extensive offerings include core investment servicing functionalities such as secure asset custody, detailed product accounting, daily valuation, comprehensive administration, master trust and master custody arrangements, and specific depotbank services. It also manages record-keeping, cash, foreign exchange, brokerage, and various trading activities. Further services in this area encompass securities finance, advanced custody solutions, deposit and short-term investment facilities, as well as loan and lease financing. State Street additionally provides operational outsourcing for both traditional and alternative investment managers, complemented by sophisticated analytics for performance, risk, and compliance, along with financial data management. Beyond servicing, the firm offers capabilities in portfolio management and risk analysis, supporting trading and post-trade settlement processes with built-in compliance features and managed data solutions. Its investment management division provides a diverse range of strategies and products. These span core and enhanced indexing, multi-asset class approaches, active quantitative and fundamental management, and various alternative investment strategies. State Street is also a proponent of environmental, social, and governance (ESG) investing, offers solutions for defined benefit and defined contribution plans, and provides global fiduciary expertise, including its prominent SPDR brand of exchange-traded funds (ETFs). State Street’s client roster is broad, serving mutual funds, collective investment vehicles, other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments, and other investment managers. With roots dating back to its founding in 1792, State Street Corporation is headquartered in Boston, Massachusetts.
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Revenue Segmentation
Industry Peers
| TICKER | COMPANY | MKT CAP | P/E | FWD P/E | ROIC |
|---|---|---|---|---|---|
| STT | State Street Corporation | 45.8B | 15.2 | 12.1 | 0.8% |
 AMP | Ameriprise Financial, Inc. | 44.6B | 11.9 | 10.7 | 2.2% |
 ARES | Ares Management Corporation | 36.9B | 51.2 | 19.4 | 4.5% |
 RJF | Raymond James Financial, Inc. | 30.2B | 13.5 | 13.0 | 8.5% |
 NTRS | Northern Trust Corporation | 29.8B | 14.4 | 14.1 | 1.2% |
 APO | Apollo Global Management, Inc. | 65.3B | 25.7 | 13.1 | 1.0% |
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 18,366,000 | 21,973,000 | 22,628,000 |
| Gross Profit | 11,899,000 | 12,844,000 | 13,885,000 |
| EBITDA | 3,198,000 | 4,000,000 | 4,285,000 |
| Operating Income | 2,316,000 | 3,395,000 | 3,731,000 |
| Net Income | 1,944,000 | 2,687,000 | 2,945,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 297,258,000 | 353,240,000 | 366,047,000 |
| Total Liabilities | 273,459,000 | 327,914,000 | 338,206,000 |
| Total Stockholders Equity | 23,799,000 | 25,326,000 | 27,841,000 |
| Total Debt | 24,366,000 | 36,793,000 | 29,805,000 |
| Cash and Cash Equivalents | 91,712,000 | 116,102,000 | 0 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 690,000 | -13,210,000 | 2,283,000 |
| Capital Expenditure | -816,000 | -926,000 | 0 |
| Free Cash Flow | -126,000 | -14,136,000 | 2,283,000 |
| Net Income | 1,944,000 | 2,685,000 | 2,945,000 |
| Net Change in Cash | 77,000 | -902,000 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 18,337,186.686 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 18,983,576.457 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 18,633,177.500 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 7,690,215.685 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 8,009,662.736 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 7,836,496.260 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 5,692,980.674 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 5,955,132.468 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 5,813,024.716 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 5,223,367.212 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 5,407,492.029 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 5,307,680.512 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 20.110 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 20.600 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 19.700 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 4 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates STT intrinsic value between $83.85 – $165.64 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about STT valuation
Is State Street Corporation (STT) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for State Street Corporation (STT) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is STT a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether STT trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is STT’s P/E ratio?
You can see STT’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for STT?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is STT a good long-term investment?
Whether STT fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
STT
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Daily snapshot
-4.14
Trading Metrics:
| Open: | 159.73 | Previous Close: | 174.1 | |
| Day Low: | 156.5 | Day High: | 166.89 | |
| Year Low: | 104.64 | Year High: | 195.93 | |
| Price Avg 50: | 184.75 | Price Avg 200: | 156.7 | |
| Volume: | 5.896M | Average Volume: | 2.075M |
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