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How State Street (STT) makes money
State Street (STT) made $4.0B of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. Total fee revenue brought in $3.1B (78%); Net interest income brought in $864M (22%). Of every dollar of revenue, 35¢ was left as operating profit, 27¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total fee revenue | $3.1B | 78.4% | -2% | +11% |
| ↳ Account Servicing | $1.5B | 37.3% | +2% | +10% |
| ↳ Management fees | $797M | 19.9% | +3% | +20% |
| ↳ Foreign exchange trading services | $427M | 10.7% | -14% | +17% |
| ↳ Software services | $175M | 4.4% | +5% | +5% |
| ↳ Securities finance | $151M | 3.8% | +0.7% | +9% |
| ↳ Other fee revenue | $98.0M | 2.4% | -29% | -29% |
| Net interest income | $864M | 21.6% | +0.5% | +21% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $4.0B | 100.0% |
| Operating profit | $1.4B | 34.7% |
| Income tax | $298M | 7.4% |
| Net earnings | $1.1B | 27.2% |
| Operating cash flow | $2.2B | 56.2% |
| Free cash flow | $1.9B | 47.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $4.0B | +13% |
| Q2 2026 | $4.0B | +17% |
| Q1 2026 | $3.8B | +16% |
| Q4 2025 | $3.7B | +8% |
| Q3 2025 | $3.5B | +9% |
| Q2 2025 | $3.4B | +8% |
| Q1 2025 | $3.3B | +5% |
From State Street's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does State Street make money?
State Street (STT) made $4.0B of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. Total fee revenue brought in $3.1B (78%); Net interest income brought in $864M (22%). Of every dollar of revenue, 35¢ was left as operating profit, 27¢ was left as net earnings.
What is State Street's biggest business?
Total fee revenue: $3.1B in the third quarter 2026, 78% of revenue, +11% from a year earlier.
What is State Street's profit margin?
Net earnings were $1.1B, 27.2% of revenue, in the third quarter 2026; the operating margin was 34.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.