State Street
Provides institutions with global custody, investment technology, trading services and SPDR ETFs.
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Profile
Provides custody, fund administration, trading, securities finance and front-to-back investment technology to institutions, while State Street Investment Management earns fees from SPDR ETFs, indexed strategies and active mandates. Revenue is predominantly fee-based and varies with serviced and managed asset levels, market values, transaction volumes and client mandates.
Provides investment servicing to institutions across the Americas, Europe, the Middle East and Asia-Pacific. Investment Servicing covers custody, fund accounting and administration, middle-office outsourcing, foreign exchange, securities finance and front-office software; State Street Alpha connects these workflows with Charles River technology.
Investment Management, renamed from State Street Global Advisors, offers indexed and active strategies, custom mandates and SPDR exchange-traded funds. Most revenue comes from fees, supplemented by interest income.
Fees vary with serviced and managed asset levels, security values, transaction volumes and client mandate changes. Long-term servicing contracts carry conversion, technology and pricing commitments. Operates as a bank holding company designated a global systemically important bank, with added capital and regulatory requirements.
Company facts
Categories
Key statistics
Year to date +49.8% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 20, 2026 | Evercore ISI | Target | $186 | $200 | |
| Jul 17, 2026 | Truist Financial | Target | $150 | $191 | |
| Jul 17, 2026 | Morgan Stanley | Reiterate | Overweight | $183 | $195 |
| Jul 17, 2026 | Barclays | Reiterate | Equal Weight | $165 | $200 |
| Jul 6, 2026 | Evercore ISI | Reiterate | Outperform | $158 | $186 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 16, 2026Q2 FY26 | $3.34 | $3.65 | +9.3% | $3.88B | $4.05B | +4.3% | −1.70% |
| Apr 17, 2026Q1 FY26 | $2.64 | $2.84 | +7.6% | $3.67B | $3.80B | +3.6% | +3.27% |
| Jan 16, 2026Q4 FY25 | $2.84 | $2.97 | +4.6% | $3.60B | $3.67B | +1.8% | −2.12% |
| Oct 17, 2025Q3 FY25 | $2.64 | $2.78 | +5.3% | $3.46B | $5.75B | +66.1% | +3.52% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.49B | $5.80B | $5.75B | $5.59B | $5.61B | $6.03B | |
| Gross profit | $3.27B | $3.44B | $3.54B | $3.64B | $3.78B | $4.05B | |
| Operating income | $822.0M | $889.0M | $1.10B | $918.0M | $969.0M | $1.39B | |
| Net income | $644.0M | $693.0M | $861.0M | $747.0M | $764.0M | $1.08B | |
| Diluted EPS | $2.04 | $2.17 | $2.78 | $2.41 | $2.49 | $3.65 | |
| Gross margin | 59.6% | 59.3% | 61.5% | 65.0% | 67.4% | 67.1% | |
| Operating margin | 15.0% | 15.3% | 19.2% | 16.4% | 17.3% | 23.0% |
Fiscal years (4-quarter sums)FY21 $11.91B · FY22 $13.67B · FY23 $18.37B · FY24 $21.97B · FY25 $22.63B
Revenue by product · Q1 FY26
Revenue by geography · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $4.29B · Total debt $30.47B · Total assets $418.38B · Shareholders' equity $28.27B
Dividends
Raised for 16 straight years — most recently to $0.84 from $0.76 in Oct 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 1, 2026 | Jul 1 | Jul 13 | $0.84 | |
| Apr 1, 2026 | Apr 1 | Apr 13 | $0.84 | |
| Jan 2, 2026 | Jan 2 | Jan 12 | $0.84 | |
| Oct 1, 2025 | Oct 1 | Oct 14 | $0.84 | raised from $0.76 |
| Jul 1, 2025 | Jul 1 | Jul 11 | $0.76 | |
| Apr 1, 2025 | Apr 1 | Apr 11 | $0.76 | |
| Jan 2, 2025 | Jan 2 | Jan 13 | $0.76 | |
| Oct 1, 2024 | Oct 1 | Oct 11 | $0.76 | raised from $0.69 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 276.77M · Float 273.38M · 98.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 24.41M | 8.82% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 17.60M | 6.36% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 14.73M | 5.32% | 13F | Aug 13, 2026 |
| FMR LLC | 13.91M | 5.03% | 13F | Aug 13, 2026 |
| State Street Corp | 13.54M | 4.89% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | Elizabeth Schaefer | officer: SVP, Chief Accounting Officer | −500 | $181.19 |
| Jul 24, 2026 | W. Bradford Hu | officer: EVP and Chief Risk Officer | −9,758 | $184.52 |
| Jul 21, 2026 | Hanley Ronald P. O. | director, officer: Chairman, CEO and President | −14,553 | $184.17 |
| Jul 21, 2026 | Kathryn M. Horgan | officer: Executive Vice President | −5,523 | $184.17 |
| Jun 11, 2026 | Kathryn M. Horgan | officer: Executive Vice President | −5,500 | $162.78 |
Peers
- BlackRock
Dual rival: iShares vs SPDR in ETFs; Aladdin vs Alpha in investment platforms.
- JPMorgan Chase
Third-largest global custodian (US$41T AUC); record revenue of US$5.1B in 2024.
- Citi
Fourth-largest custodian (US$31T AUC); 63-market proprietary network.
- Northern Trust
Sixth-largest custodian (US$18.7T AUC); BBH final-bid rival; pension focus.
- HSBC (ADR)
Seventh-largest custodian (US$15.5T AUC); Asia-Pacific custody leader.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| State Street | $193.32 | +0.01% | $53.51B | 17.1 | 13.5 | 2.3 | −30.2% |
| BlackRock | $1,163.84 | −0.03% | $180.49B | 27.8 | 19.5 | 6.6 | +30.6% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Citi | $132.62 | −0.19% | $227.81B | 14.3 | 11.4 | 1.3 | +14.3% |
| Northern Trust | $186.79 | +0.01% | $34.17B | 16.0 | 15.7 | 2.3 | −24.9% |
| HSBC (ADR) | $104.30 | +0.76% | $355.80B | 14.9 | 11.9 | 2.8 | +32.2% |
| Median | 15.4 | 14.8 | 2.8 | +27.8% |