State Street
STT on NYSE. State Street sells financial services to asset managers, insurers, and other institutional investors. Market value $48.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 11 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.71.
Profit per $100 you pay: $7.16.
Quality score: 62 of 100. Price score: 77 of 100. Our list needs 70 on quality and 60 on price.
$175.75 a share, 68% above its 1-year low
Over the past year the price has ranged from $104.64 to $195.93.
Expected to report results Wednesday 14 Oct, before the market opens.
Dividend: 2.3% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $12.0bn | $12.1bn | $11.9bn | $13.0bn | $13.9bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.37bn | 0.31bn | 0.29bn | 0.28bn | 0.27bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsSlow, 3.6% a year
- Buying back its own sharesYes, 25% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $4 billion last quarter, up 17% on a year ago.
- Profit: $1.1 billion, up 56% on a year ago.
- Spare cash over the past 12 months: $2 billion. A year earlier it spent $11.8 billion more than it brought in.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $3.3bn |
| December 2024 | $3.4bn |
| March 2025 | $3.3bn |
| June 2025 | $3.4bn |
| September 2025 | $3.5bn |
| December 2025 | $3.7bn |
| March 2026 | $3.8bn |
| June 2026 | $4.0bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $730m |
| December 2024 | $783m |
| March 2025 | $644m |
| June 2025 | $693m |
| September 2025 | $861m |
| December 2025 | $747m |
| March 2026 | $764m |
| June 2026 | $1.1bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 14 October 2026
- Last annual report (10-K)
- 19 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
14 long-term investors we follow own it, up from 13 last quarter. 1,254 funds in all.
- LSV Asset ManagementJosef Lakonishok
- Value
- $690m
- Share of fund
- 1.3%
- Yacktman Asset ManagementStephen Yacktman
- Value
- $156m
- Share of fund
- 1.9%
- GAMCO InvestorsMario Gabelli
- Value
- $76m
- Share of fund
- 0.7%
- Gotham Asset ManagementJoel Greenblatt
- Value
- $4m
- Share of fund
- <0.1%
- First Manhattan Co.First Manhattan partners
- Value
- $462,754
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Harris Associates (Oakmark)Bill Nygren | $808m | 1.1% | Cut |
| LSV Asset ManagementJosef Lakonishok | $690m | 1.3% | |
| Hotchkis & WileyHotchkis & Wiley team | $339m | 1.0% | Cut |
| Yacktman Asset ManagementStephen Yacktman | $156m | 1.9% | |
| Letko BrosseauLetko Brosseau team | $89m | 1.3% | Cut |
| GAMCO InvestorsMario Gabelli | $76m | 0.7% | |
| Brandes Investment PartnersCharles Brandes | $51m | 0.4% | Cut |
| GMOJeremy Grantham | $31m | <0.1% | Cut |
| Davis Selected AdvisersChris Davis | $25m | 0.1% | Cut |
| Dodge & CoxDodge & Cox investment committee | $6m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $4m | <0.1% | |
| Cooke & BielerCooke & Bieler partners | $1m | <0.1% | Cut |
| First Manhattan Co.First Manhattan partners | $462,754 | <0.1% | |
| Pzena Investment ManagementRichard Pzena | $208,778 | <0.1% | New |
Largest holders overall
- BlackRock$4.1bn
- Vanguard Capital Management$3.0bn
- Vanguard Portfolio Management$2.5bnCut
- FMR$2.4bnAdded
- State Street$2.3bn
- Regents of the University of California$1.7bn
- Geode Capital Management$1.3bnCut
- Invesco$1.1bnCut
- Harris Associates (Oakmark)$808mCut
- Morgan Stanley$803mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.3%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.8%Since 31 March 2026
- FMR LLCPassive investorat least 5.0%(filed with 1 related holder)Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.3% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.8% | 31 March 2026 | |
FMR LLC Passive investor | at least 5.0% (filed with 1 related holder) | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $312,475 of shares on the open market. 8 sold $21m, $15m of it under preset trading plans.
- Schaefer ElizabethSVP, Chief Accounting OfficerSold
- Date
- 3 August 2026
- Shares
- 500
- Price
- $181.19
- Value
- $90,595
- Hu W. BradfordEVP and Chief Risk OfficerSoldunder a preset trading plan
- Date
- 24 July 2026
- Shares
- 9,758
- Price
- $184.52
- Value
- $2m
- Horgan Kathryn MExecutive Vice PresidentSoldunder a preset trading plan
- Date
- 21 July 2026
- Shares
- 5,523
- Price
- $184.17
- Value
- $1m
- O HANLEY RONALD PChairman, CEO and President, DirectorSoldunder a preset trading plan
- Date
- 21 July 2026
- Shares
- 14,553
- Price
- $184.17
- Value
- $3m
- Horgan Kathryn MExecutive Vice PresidentSoldunder a preset trading plan
- Date
- 11 June 2026
- Shares
- 5,500
- Price
- $162.78
- Value
- $895,290
- RICHARDS MICHAEL LEVP and Chief Admin OfficerSold
- Date
- 8 June 2026
- Shares
- 1,500
- Price
- $162.14
- Value
- $243,210
- Hu W. BradfordEVP and Chief Risk OfficerSoldunder a preset trading plan
- Date
- 26 May 2026
- Shares
- 9,212
- Price
- $155.35
- Value
- $1m
- O HANLEY RONALD PChairman, CEO and President, DirectorSoldunder a preset trading plan
- Date
- 26 May 2026
- Shares
- 14,553
- Price
- $155.35
- Value
- $2m
- Schaefer ElizabethSVP, Chief Accounting OfficerSold
- Date
- 13 May 2026
- Shares
- 500
- Price
- $150.87
- Value
- $75,435
- TAHIRI MOSTAPHAEVP and COOSold
- Date
- 22 April 2026
- Shares
- 9,611
- Price
- $152.93
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 August 2026 | Schaefer Elizabeth SVP, Chief Accounting Officer | Sold | 500 | $181.19 | $90,595 |
| 24 July 2026 | Hu W. Bradford EVP and Chief Risk Officer | Sold under a preset trading plan | 9,758 | $184.52 | $2m |
| 21 July 2026 | Horgan Kathryn M Executive Vice President | Sold under a preset trading plan | 5,523 | $184.17 | $1m |
| 21 July 2026 | O HANLEY RONALD P Chairman, CEO and President, Director | Sold under a preset trading plan | 14,553 | $184.17 | $3m |
| 11 June 2026 | Horgan Kathryn M Executive Vice President | Sold under a preset trading plan | 5,500 | $162.78 | $895,290 |
| 8 June 2026 | RICHARDS MICHAEL L EVP and Chief Admin Officer | Sold | 1,500 | $162.14 | $243,210 |
| 26 May 2026 | Hu W. Bradford EVP and Chief Risk Officer | Sold under a preset trading plan | 9,212 | $155.35 | $1m |
| 26 May 2026 | O HANLEY RONALD P Chairman, CEO and President, Director | Sold under a preset trading plan | 14,553 | $155.35 | $2m |
| 13 May 2026 | Schaefer Elizabeth SVP, Chief Accounting Officer | Sold | 500 | $150.87 | $75,435 |
| 22 April 2026 | TAHIRI MOSTAPHA EVP and COO | Sold | 9,611 | $152.93 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.