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State Street vs M&T Bank: STT and MTB compared
State Street is the larger company: $4.0B of revenue in its latest quarter (Q3 2026) against $2.5B for M&T Bank (Q3 2026). State Street is growing faster (+13% against +0.9% a year earlier). M&T Bank is more profitable, with an operating margin of 39.7% against 34.7%.
Where the money goes: STT and MTB
State Street (STT) · Q3 2026
State Street, Q3 2026: revenue $4.0B (+13% year over year), operating margin 34.7%, net earnings $1.1B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
M&T Bank (MTB) · Q3 2026
M&T Bank, Q3 2026: revenue $2.5B (+0.9% year over year), operating margin 39.7%, net earnings $775M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| State Street (STT) | M&T Bank (MTB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.0B | $2.5B |
| Revenue growth, Y/Y | +13% | +0.9% |
| Operating margin | 34.7% | 39.7% |
| Net earnings | $1.1B | $775M |
| Net margin | 27.2% | 30.6% |
| Operating cash flow | $2.2B | $1.3B |
| Free cash flow | $1.9B | — |
| Market value | $46.1B | $31.6B |
| P/E | 13.5× | 10.5× |
| Analysts’ mean target | $192.63 | $245.93 |
Where the revenue comes from
State Street
- Total fee revenue: $3.1B (78%)
- Net interest income: $864M (22%)
Questions
Which is bigger, State Street or M&T Bank?
State Street is the larger company: $4.0B of revenue in its latest quarter (Q3 2026) against $2.5B for M&T Bank (Q3 2026).
Is State Street or M&T Bank growing faster?
State Street is growing faster (+13% against +0.9% a year earlier).
Which is more profitable, State Street or M&T Bank?
M&T Bank is more profitable, with an operating margin of 39.7% against 34.7%.
More: State Street earnings · how State Street makes money · M&T Bank earnings · how M&T Bank makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.