State Street Corporation (STT) Stock

State Street Corporation (STT) is a Financials stock trading at $183.05 (as of 2026-08-20), with a market capitalization of $50.66B and a trailing P/E of 14.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

State Street Corporation, through its subsidiaries, delivers financial products and services for institutional investors, including investment servicing such as custody, accounting, pricing administration, master trust/custody, cash management, foreign exchange and brokerage, securities finance, record-keeping, and related data and analytics. It also provides investment management and portfolio, risk, and compliance-related analytics and services.

Understand State Street Corporation: how it makes money

State Street provides investment servicing and custody (including product accounting and daily pricing/administration), cash management and securities finance, plus foreign exchange and other brokerage and trading services for institutional investors, earning money from servicing fee revenue (including installed servicing fees), software and processing fees (including Front Office Software and Data ARR), and FX trading services revenue.

State Street's profit engine is the recurring servicing-fee stream, where incremental growth is driven by new servicing fee revenue wins that convert into “servicing fee revenue to be installed,” supported by recurring Front Office software and data ARR and complemented by FX trading services revenue.

Business quality (Solid): Useful operating signals are provided for installed servicing fees, new servicing fee wins, and Front Office Software and Data ARR, but the provided facts do not include official reportable segment names, so a clean segment revenue map is not possible here.

Valuation: At 17× earnings, STT trades 35% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Servicing revenue momentum is trackable before it shows up: The provided metrics separately track “new servicing fee revenue wins” and “servicing fee revenue to be installed” (including “future quarter-end servicing fee revenue to be installed”), which supports monitoring whether wins are converting into recurring installed revenue.
  • Recurring software and data base adds durability: The provided KPI includes “Front Office Software & Data ARR (annual recurring revenue),” alongside related “software and processing fees” and “front office software revenue,” indicating a recurring revenue component beyond core servicing.
  • Business mix includes both servicing and trading-related income: The provided facts include “FX trading services revenue (GAAP),” which complements servicing and software revenue streams.

Bear case

  • Installed servicing fees depend on converting wins: Because the metrics distinguish “new servicing fee revenue wins” from “servicing fee revenue to be installed,” there is risk that wins do not convert into installed revenue as expected.
  • Service and software revenue may face timing and ramp uncertainties: The presence of “future quarter-end servicing fee revenue to be installed” and “Front Office Software & Data ARR (annual recurring revenue)” implies revenue recognition and change over time, which can create quarter-to-quarter uncertainty.
  • FX trading revenue can be more volatile than recurring servicing: The provided facts call out “FX trading services revenue (GAAP)” as a separate driver, which can introduce variability relative to installed servicing fee revenue.
Valuation — source: SEC EDGAR (first-party)
Price$183.05
Market Cap$50.66B
P/E Ratio14.6
EV / EBITDA10.5
Price / Book1.79
Price / Sales3.34
FCF Yield-77.3%
DCF Value (model)$189.55
DCF Upside vs Price3.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$13.94B
Net Margin21.1%
Revenue Growth (YoY)7.3%
EPS Growth (YoY)14.6%
FCF Growth (YoY)-176.7%
Valuation vs Sector & Industry
Stock P/E14.6
Sector P/E (Financials)15.1
Industry P/E (Banking)12.9
vs Sector-3.6%
vs Industry12.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($4.72B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorFinancials
IndustryBanking
CEORonald Philip O'Hanley
Employees52,711
CountryUS
IPO Date1980-03-17

Related Companies (Business model: Asset Manager (Traditional + Alternatives) + Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

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STT earnings history · STT institutional & insider holders · STT KPIs & operating metrics · STT financials · STT investor presentations & press releases · STT SEC filings · STT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.