State Street (STT) financial statements
State Street reported revenue of $13.9B in fiscal 2025, up 3.5% a year over 9 years.
Net income was $2.9B.
Free cash flow was $10.8B, and the company returned $1.1B in dividends and $1.2B in net buybacks.
The diluted share count fell 27% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from State Street's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.2B | $11.3B | $12.1B | $11.8B | $11.7B | $12.0B | $12.1B | $11.9B | $13.0B | $13.9B |
| Interest expense | $428M | $604M | $991M | $1.4B | $375M | $3M | $1.5B | $6.4B | — | — |
| Pre-tax income | $2.1B | $3.0B | $3.1B | $2.7B | $2.9B | $3.2B | $3.3B | $2.3B | $3.4B | $3.7B |
| Income tax | -$22M | $839M | $508M | $470M | $479M | $478M | $553M | $372M | $708M | $786M |
| Net income | $2.1B | $2.2B | $2.6B | $2.2B | $2.4B | $2.7B | $2.8B | $1.9B | $2.7B | $2.9B |
| EPS (diluted) | $4.97 | $5.19 | $6.39 | $5.38 | $6.32 | $7.19 | $7.19 | $5.58 | $8.21 | $9.40 |
| Diluted shares | 396M | 380M | 376M | 374M | 357M | 358M | 370M | 327M | 302M | 289M |
| Net margin | 21.0% | 19.1% | 21.4% | 19.1% | 20.7% | 22.4% | 22.8% | 16.3% | 20.7% | 21.1% |
Balance sheet
Fiscal years, from State Street's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.2B | $2.0B | $3.2B | $3.3B | $3.5B | $3.6B | $4.0B | $4.0B | $3.1B | $4.4B |
| Property, plant and equipment | $2.1B | $2.2B | $2.2B | $2.3B | $2.2B | $2.3B | $2.3B | $2.4B | $2.7B | $3.2B |
| Goodwill | $5.8B | $6.0B | $7.4B | $7.6B | $7.7B | $7.6B | $7.5B | $7.6B | $7.7B | $8.2B |
| Total assets | $242.7B | $238.4B | $244.6B | $245.6B | $314.7B | $314.6B | $301.4B | $297.3B | $353.2B | $366.0B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $221.5B | $216.1B | $219.9B | $221.2B | $288.5B | $287.3B | $276.3B | $273.5B | $327.9B | $338.2B |
| Shareholders' equity | $21.2B | $22.3B | $24.7B | $24.4B | $26.2B | $27.4B | $25.2B | $23.8B | $25.3B | $27.8B |
| Net debt | -$1.2B | -$2.0B | -$3.2B | -$3.3B | -$3.5B | -$3.6B | -$4.0B | -$4.0B | -$3.1B | -$4.4B |
Cash flow
Fiscal years, from State Street's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.3B | $6.9B | $10.2B | $5.7B | $3.5B | -$6.7B | $12.0B | $690M | -$13.2B | $11.9B |
| Capital spending | $613M | $637M | $609M | $730M | $560M | $811M | $734M | $816M | $926M | $1.1B |
| Free cash flow | $1.7B | $6.3B | $9.6B | $5.0B | $3.0B | -$7.5B | $11.2B | -$126M | -$14.1B | $10.8B |
| Stock-based compensation | $268M | $243M | $262M | — | — | — | — | — | — | — |
| Dividends paid | $723M | $768M | $828M | $930M | $889M | $866M | $972M | $970M | $1.0B | $1.1B |
| Share buybacks (net) | -$1.4B | -$1.3B | -$350M | -$1.6B | -$515M | -$900M | -$1.5B | -$3.8B | -$1.3B | -$1.2B |
| Net borrowing | $1.2B | -$1.3B | $995M | $1.5B | $5.8B | -$2.0B | $3.7B | $6.2B | $6.5B | $5.7B |
| Free cash flow margin | 16.4% | 55.9% | 78.9% | 42.2% | 25.4% | -62.5% | 92.4% | -1.1% | -108.7% | 77.8% |
| Dividends per share | $1.83 | $2.02 | $2.20 | $2.49 | $2.49 | $2.42 | $2.63 | $2.97 | $3.42 | $3.88 |
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Open STT in InvestinglyQuestions
What was State Street's revenue in 2025?
$13.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does State Street generate?
$10.8B in fiscal 2025 (operating cash flow minus capital spending).
From State Street's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.