What was State Street's revenue performance in 2025?

State Street's total revenue increased by 7% to $13.94 billion in 2025. This growth was primarily driven by an 8% increase in fee revenue to $10.98 billion, supported by higher servicing fees, management fees, foreign exchange trading services revenue, and securities finance revenue. Net interest income also saw a 1% increase, contributing to the overall revenue growth.

How did State Street manage its expenses and profitability?

Total expenses increased by 7% to $10.15 billion in 2025, mainly due to higher investments in technology, business initiatives, and the impact of notable items. Despite the rise in expenses, State Street maintained strong profitability, with its pre-tax margin improving to 26.8% and return on equity increasing to 11.5%.

What is the company's outlook regarding regulatory capital and liquidity?

State Street operates under a stringent regulatory framework, including Basel III capital and liquidity standards. As a Global Systemically Important Bank (G-SIB), it must maintain higher capital ratios. The company's CET1 capital ratio was 11.6% and its Tier 1 leverage ratio was 5.5% as of December 31, 2025, both within or above target ranges and exceeding regulatory minimums. The company is actively managing its liquidity to meet regulatory requirements like LCR and NSFR, and notes that regulatory requirements are expected to remain elevated.

How did State Street return capital to shareholders in 2025?

In 2025, State Street returned approximately $2.1 billion to shareholders. This included declaring common stock dividends totaling $909 million, representing an increase of 11% in the quarterly common stock dividend per share declared in the third quarter of 2025. Additionally, the company repurchased approximately $1.2 billion of its common stock under its ongoing share repurchase program.

STT/STT-PG 10-K FY2025 Annual Report — Revenue, Net Income, EPS

Summary

State Street Corporation (STT) reported a solid financial performance for the fiscal year ending December 31, 2025, demonstrating growth across key metrics. Total revenue increased by 7% year-over-year to $13.94 billion, driven by an 8% rise in fee revenue to $10.98 billion, primarily fueled by higher servicing and management fees, as well as strong performance in foreign exchange trading and securities finance. Despite a 7% increase in total expenses, largely due to investments in technology and business initiatives, the company maintained strong profitability with a pre-tax margin of 26.8% and a return on equity of 11.5%. Earnings per diluted share rose to $9.40 from $8.21 in the prior year. The company also returned significant capital to shareholders, with $2.1 billion distributed through share repurchases and dividends. State Street ended the year with robust AUC/A of $53.80 trillion and AUM of $5.67 trillion, reflecting successful client flows and positive market valuations.

Key Highlights

1Total revenue increased 7% to $13.94 billion in 2025.
2Fee revenue grew 8% to $10.98 billion, driven by servicing, management, FX trading, and securities finance.
3Net interest income increased 1% to $2.96 billion, despite a slight decrease in net interest margin.
4Diluted earnings per share increased to $9.40 from $8.21 in 2024.
5Assets under custody and/or administration (AUC/A) grew 16% to $53.80 trillion.
6Assets under management (AUM) increased 20% to $5.67 trillion.
7State Street returned $2.1 billion to shareholders via dividends and share repurchases.

STATE STREET CORP Annual Report, Year Ended Dec 31, 2025

Summary

Key Highlights

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