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State Street (STT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · State Street (STT) Q3 2026 earnings results →

Q3 2026 Revenue up 13% year over year to $4.0B · 27¢ of every $1 of revenue kept as net profit · operating margin 34.7%

State Street made $4.0B in Q3 2026 (+13% Y/Y): Total fee revenue $3.1B, Net interest income $864M. Operating margin 34.7%, net earnings $1.1B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$4.0B
Year over year+13%
Operating margin34.7%
Net earnings$1.1B
Operating cash flow$2.2B

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State Street Q3 2026 revenue breakdown: Sankey diagram of revenue (Total fee revenue, Net interest income), costs, profit and cash flow
State Street Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $4.0B in Q3 2026, up 13% year over year and down 1% from the previous quarter. Account Servicing was the largest line at 37% of revenue. Net interest income added $0.15B year over year (up 21%), 32% of the total change. Other fee revenue declined 29%.

Operating profit was $1.4B, a 34.7% margin (up 3.6 points year over year). Of the extra revenue versus Q3 2025, 62% reached operating profit, above the 31% margin then. Total costs grew 7% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+25%). Net earnings were $1.1B, up 27% year over year. The effective tax rate was 21.5%.

Operating cash flow was $2.2B (down 72% year over year), 206% of net earnings. Working capital and other items added $1.2B. Capital expenditures of $0.34B left free cash flow of $1.9B.

Quarterly history

State Street revenue by quarterState Street revenue by quarter$3.3BQ1 2025$3.4BQ2 2025$3.5BQ3 2025$3.7BQ4 2025$3.8BQ1 2026$4.0BQ2 2026$4.0BQ3 2026
State Street net earnings by quarterState Street net earnings by quarter$644MQ1 2025$693MQ2 2025$861MQ3 2025$747MQ4 2025$764MQ1 2026$1.1BQ2 2026$1.1BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$4.0B+13%34.7%$1.1B$2.2B
Q2 202610-QJul 30, 2026$4.0B+17%34.3%$1.1B−$2.3B
Q1 202610-QApr 29, 2026$3.8B+16%25.5%$764M−$12.1B
Q4 202510-KFeb 19, 2026$3.7B+8%25.0%$747M$10.0B
Q3 202510-QOct 30, 2025$3.5B+9%31.1%$861M$7.9B
Q2 202510-QJul 31, 2025$3.4B+8%25.8%$693M−$8.4B
Q1 202510-QMay 1, 2025$3.3B+5%25.0%$644M$2.4B

Charts

State Street: revenue growth, year over year and quarter over quarterState Street: revenue growth, year over year and quarter over quarterY/YQ/Q+5%Q1 2025+8%+5%Q2 2025+9%+3%Q3 2025+8%+3%Q4 2025+16%+4%Q1 2026+17%+7%Q2 2026+13%-1%Q3 2026
Latest (Q3 2026): Y/Y +13%, Q/Q -1%.
State Street: where the cash came from (+) and went (−), TTM to Q3 2026State Street: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$21.7BOther investing−$16.6BOperating cash flow−$2.2BBuybacks−$1.6BCapital spending−$1.6BDividends−$1.2BNet borrowing (+) / repaid (−)$917MShares issued$496MCash drawn (+) / kept (−)−$40.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
State Street: profit against cash, quarter by quarterState Street: profit against cash, quarter by quarterNet incomeOperating cash flow$783M−$7.4BQ4 2024$644M$2.4BQ1 2025$693M−$8.4BQ2 2025$861M$7.9BQ3 2025$747M$10.0BQ4 2025$764M−$12.1BQ1 2026$1.1B−$2.3BQ2 2026$1.1B$2.2BQ3 2026
Latest (Q3 2026): Net income $1.1B, Operating cash flow $2.2B.
State Street: diluted shares by fiscal yearState Street: diluted shares by fiscal year357MFY2020358MFY2021370MFY2022327MFY2023302MFY2024289MFY2025
-19.1% since FY2020: buybacks shrank the count.
State Street in its industry: growth against margin (133 companies, SIC 6022)State Street in its industry: growth against margin (133 companies, SIC 6022)revenue growth, year over year →↑ operating marginmedian +9%median 40%BNYFITBMTBFCNCAALLYCFGNTRSWALBPOPEWBCWTFCCOLBSSBCBSHASBHWCAUBGBCIUBSIABCBHTHHOMBUCBRNSTFBPCATYFIBKCUBIFHBIBOCMBINSBCFBOHCVBFBUSEEFSCOFGLOBFBKFFINSFBSMCHBCCBFBNCGABCBYSYBTPEBOTCBKOBKSTBAFMBHRBCAACNOBAMALMCBQCRHOSBCFMNBBFSTUVSPTMPCCNEMSBIHBTEQBKCTBICPFTHFFMPBSBSIMBWMLKFNIBCPEGBNSPFIWASHCCBGCOFSCWBCHBIAACNBGSBCFSBCTRSTCIVBFCBCMCBSFBIZINBKBWBCBANMVBFBSRRCZNCCFFIRBBISTRUNTYBWFGBMRCRRBIPCBFCBMCHMGCZFSNWFLWTBAMYFWAVBHOPBKUSCBFCCOEBMTCOSOFXNCPKBKISBAPEBKBPRNBRBSHNVRMNSBFVCBCCFNSBFGJMSBBOTJNWPPFUSBAUBNJUVFSTT (+13%, 35%)
State Commercial Banks; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About State Street

State Street Corporation is one of the world’s leading providers of financial services to institutional investors, including investment servicing, markets and financing solutions and investment management. Our clients — asset managers and owners, insurance companies, wealth managers, official institutions and central banks — rely on us to deliver solutions that support their business objectives across the investment life cycle. Leveraging our strength and scale, innovation and platforms, and industry expertise, we are an essential partner to our clients. In all aspects of our business, we work toward a singular purpose: to help create better outcomes for the world’s investors and the people they serve.

In its own words, from its 10-K, filed Feb 19, 2026.

State Street against its State Commercial Banks peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +10%. Operating margin: 34.7% against the peers' median 34.6%.

CompanyQuarterRevenueY/YOp. margin
STT State StreetQ3 2026$4.0B+13%34.7%
BNY Bank of New York MellonQ3 2026$5.7B+12%38.5%
FITB Fifth Third BancorpQ3 2026$3.3B+42%33.8%
MTB M&T BankQ3 2026$2.5B+0.9%39.7%
FCNCA First Citizens BancsharesQ3 2026$2.4B0%33.1%
ALLY Ally FinancialQ3 2026$2.3B+8%24.3%
CFG Citizens Financial GroupQ3 2026$2.3B+10%34.6%
NTRS Northern TrustQ3 2026$2.3B+13%34.7%
WAL Western Alliance BancorporationQ3 2026$1.0B+8%33.4%

Source: State Street 10-Q on SEC EDGAR · CIK 93751 · State Commercial Banks

13F: who owns STT and who is buying

Largest holders of STT (13F)Largest holders of STT (13F)Vanguard Group$4.7BBlackRock$4.1BVanguard Capital Management LLC$3.0BVanguard Portfolio Management LLC$2.5BFMR LLC$2.4BState Street$2.3BRegents of the University of Cali…$1.7BGeode Capital Management, LLC$1.3BInvesco$1.1BHarris Associates L P$808M
Funds' net buying of STT by quarter (13F)Funds' net buying of STT by quarter (13F)−$432M2024-09−$256M2024-12$128M2025-03−$194M2025-06$457M2025-09$859M2025-12−$1.5B2026-03−$473M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on STT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：State Street（STT）财报

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