The firm maintains a disciplined capital structure with a debt-to-equity ratio of 1.09 as of 2026Q1, supported by a steady accumulation of retained earnings which grew to $31.9 billion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 407.45B | 146.02B | 134.55B | 136.24B | 146.2B | 183.45B | 183.45B | 128.54B | 127B | 130.91B | 137.36B | 151B | 193.8B | 173.9B | 168.86B | 168.88B | 110.83B | 104.51B | 115.53B | 104.9B | 83.51B | 78.38B | 41.74B | 35.07B | 47.7B | 39.64B | 45.7B | 38.55B | 27.76B | 18.86B | 15.21B |
| Cash & Due from Banks | 130.09B | 131.36B | 116.1B | 91.71B | 105.63B | 110.05B | 120.48B | 72.33B | 76.31B | 69.45B | 72.38B | 76.67B | 95.58B | 67.65B | 53.53B | 61.3B | 25.55B | 29.27B | 58.91B | 10.31B | 7.6B | 13.96B | 22.67B | 25.11B | 29.5B | 21.97B | 22.91B | 19.83B | 13.45B | 12.49B | 9.19B |
| Short Term Investments | 12.02B | 14.65B | 18.45B | 44.53B | 40.58B | 73.4B | 62.97B | 56.22B | 50.69B | 61.45B | 64.98B | 74.32B | 98.23B | 106.25B | 115.33B | 107.58B | 85.29B | 75.23B | 56.61B | 94.59B | 75.91B | 64.42B | 19.07B | 9.96B | 18.2B | 17.67B | 22.79B | 18.71B | 14.31B | 6.37B | 6.02B |
| Total Investments | 170.61B | 147.84B | 155.76B | 139.91B | 143.4B | 152.63B | 152.02B | 131.96B | 126.46B | 131.08B | 129.08B | 129.31B | 142.88B | 143.5B | 143.82B | 133.13B | 114.21B | 110.6B | 98.11B | 117.55B | 90.47B | 75.89B | 61.27B | 53.19B | 50.44B | 43.8B | 41.8B | 37.71B | 30.36B | 22.31B | 20.12B |
| Investments Growth % | 102.94% | -5.09% | 11.33% | -2.44% | -6.05% | 0.4% | 15.2% | 4.35% | -3.53% | 1.55% | -0.17% | -9.5% | -0.43% | -0.22% | 8.03% | 16.57% | 3.26% | 12.73% | -16.54% | 29.94% | 19.2% | 23.86% | 15.19% | 5.45% | 15.18% | 4.77% | 10.85% | 24.21% | 36.1% | 10.85% | 21.19% |
| Long-Term Investments | 627.57B | 133.19B | 137.31B | 95.38B | 102.82B | 79.23B | 89.05B | 75.74B | 75.77B | 69.63B | 64.11B | 54.98B | 44.65B | 37.25B | 28.48B | 25.55B | 28.92B | 35.37B | 41.5B | 22.97B | 14.56B | 11.47B | 42.2B | 43.24B | 32.24B | 26.12B | 19.01B | 19B | 16.05B | 15.94B | 14.1B |
| Accounts Receivables | 5.5B | 5.02B | 4.54B | 4.42B | 3.84B | 3.51B | 3.48B | 3.66B | 3.51B | 3.45B | 3.53B | 3.36B | 2.75B | 3.07B | 2.48B | 431M | 290M | 68M | 0 | 0 | 0 | 0 | 1.2B | 1.01B | 823M | 880M | 845M | 717M | 610M | 566M | 442M |
| Goodwill & Intangibles | 8.99B | 9.09B | 8.78B | 8.93B | 9.04B | 9.44B | 9.51B | 9.59B | 9.81B | 7.63B | 7.56B | 7.44B | 7.85B | 8.4B | 8.52B | 8.1B | 8.19B | 6.36B | 6.38B | 6.56B | 1.82B | 1.8B | 1.99B | 1.85B | 589M | 612M | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 8.12B | 8.16B | 7.69B | 7.61B | 7.5B | 7.62B | 7.68B | 7.56B | 7.45B | 6.02B | 5.81B | 5.67B | 5.83B | 6.04B | 5.98B | 5.64B | 5.6B | 4.55B | 4.53B | 4.57B | 1.38B | 1.34B | 1.5B | 1.85B | 589M | 612M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 872M | 935M | 1.09B | 1.32B | 1.54B | 1.82B | 1.83B | 2.03B | 2.37B | 1.61B | 1.75B | 1.77B | 2.02B | 2.36B | 2.54B | 2.46B | 2.59B | 1.81B | 1.85B | 1.99B | 434M | 459M | 494M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 4.15B | 3.17B | 3.53B | 3.2B | 2.81B | 2.8B | 2.87B | 3.14B | 2.21B | 2.19B | 2.06B | 1.89B | 1.94B | 1.86B | 1.73B | 1.75B | 1.8B | 1.95B | 2.01B | 1.89B | 1.56B | 1.45B | 1.44B | 1.21B | 887M | 829M | 726M | 732M | 700M | 500M | 468M |
| Other Assets | 23.27B | 29B | 62.88B | 46.13B | 34.43B | 34.25B | 24.77B | 23.68B | 25.02B | 23.46B | 5.68B | 4.85B | 21.03B | 16.63B | 10.44B | 7.35B | 4.45B | 2.06B | 4.64B | 2.06B | 1.9B | 985M | 5.46B | 5.15B | 3.55B | 1.76B | 3.01B | 1.91B | 1.96B | 2.11B | 1.3B |
| Total Current Assets | 196.56B | 190.1B | 140.03B | 142.58B | 151.22B | 188.65B | 188.26B | 133.24B | 131.66B | 135.4B | 163.08B | 175.81B | 198.43B | 178.89B | 173.06B | 173.69B | 115.36B | 108.24B | 119.11B | 109.07B | 87.51B | 82.26B | 42.95B | 36.09B | 48.53B | 40.52B | 46.55B | 39.26B | 28.37B | 19.43B | 15.65B |
| Total Non-Current Assets | 195.61B | 175.94B | 213.21B | 154.68B | 150.23B | 125.97B | 126.44B | 112.37B | 112.94B | 103.02B | 79.62B | 69.35B | 75.69B | 64.4B | 49.52B | 43.14B | 45.15B | 49.71B | 54.52B | 33.47B | 19.84B | 15.71B | 51.09B | 51.45B | 37.27B | 29.33B | 22.75B | 21.63B | 18.71B | 18.55B | 15.87B |
| Total Assets | 392.17B | 366.05B | 353.24B | 297.26B | 301.45B | 314.62B | 314.71B | 245.61B | 244.6B | 238.43B | 242.7B | 245.16B | 274.12B | 243.29B | 222.58B | 216.83B | 160.5B | 157.95B | 173.63B | 142.54B | 107.35B | 97.97B | 94.04B | 87.53B | 85.79B | 69.85B | 69.3B | 60.9B | 47.08B | 37.98B | 31.52B |
| Asset Growth % | 34.18% | 3.63% | 18.83% | -1.39% | -4.19% | -0.03% | 28.13% | 0.41% | 2.59% | -1.76% | -1% | -10.57% | 12.67% | 9.3% | 2.65% | 35.09% | 1.62% | -9.03% | 21.81% | 32.78% | 9.58% | 4.18% | 7.43% | 2.03% | 22.83% | 0.8% | 13.8% | 29.34% | 23.98% | 20.46% | 22.26% |
| Return on Assets (ROA) | 0.81% | 0.82% | 0.83% | 0.65% | 0.9% | 0.86% | 0.86% | 0.91% | 1.07% | 0.9% | 0.88% | 0.76% | 0.78% | 0.88% | 0.94% | 1.02% | 0.98% | -1.13% | 1.15% | 1.01% | 1.08% | 0.87% | 0.88% | 0.83% | 1.3% | 0.9% | 0.91% | 1.15% | 1.03% | 1.09% | 1.02% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 30.18B | 29.8B | 36.79B | 24.37B | 18.27B | 15.18B | 21.2B | 14.45B | 15.27B | 15.61B | 17.41B | 17.75B | 23.37B | 21.45B | 20.34B | 22.13B | 31.1B | 44.11B | 34.25B | 24.26B | 26.75B | 25.98B | 26.12B | 27.48B | 30.57B | 24.55B | 24.16B | 21.48B | 14.83B | 9.03B | 8.71B |
| Net Debt | -99.91B | -101.56B | -79.31B | -67.35B | -87.36B | -94.87B | -99.28B | -57.88B | -61.04B | -53.85B | -54.97B | -58.92B | -72.21B | -46.2B | -33.19B | -39.18B | 5.55B | 14.84B | -24.66B | 13.95B | 19.14B | 12.02B | 3.45B | 2.37B | 1.06B | 2.58B | 1.24B | 1.65B | 1.38B | -3.47B | -473M |
| Long-Term Debt | 25.23B | 25.02B | 23.16B | 17.68B | 12.66B | 10.77B | 13.7B | 12.37B | 10.9B | 11.37B | 11.14B | 11.16B | 9.27B | 8.91B | 6.72B | 7.44B | 7.83B | 8.09B | 3.67B | 3.15B | 2.12B | 2.14B | 2.46B | 2.22B | 1.27B | 1.22B | 1.22B | 921M | 922M | 818M | 562M |
| Short-Term Debt | 4.95B | 4.66B | 13.52B | 6.5B | 5.43B | 4.25B | 7.4B | 1.94B | 4.17B | 3.99B | 5.99B | 6.25B | 13.33B | 11.75B | 12.91B | 13.99B | 22.55B | 35.27B | 29.83B | 20.63B | 24.13B | 23.32B | 23.66B | 25.26B | 29.3B | 23.33B | 22.94B | 20.56B | 13.91B | 8.21B | 8.15B |
| Other Liabilities | 40.9B | 34.05B | 29.2B | 28.12B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 11.19B | 7.71B | 5.98B | 6.63B | 6.79B | 4.97B | 2.9B | 3.94B | 2.62B | 2.4B | 2.08B | 1.51B |
| Total Current Liabilities | 298.29B | 279.01B | 275.44B | 227.47B | 263.42B | 276.33B | 274.7B | 208.67B | 208.77B | 204.49B | 210.05B | 212.52B | 242.75B | 213.21B | 194.28B | 189.3B | 134.17B | 134.62B | 156.44B | 116.42B | 89.78B | 82.96B | 78.79B | 72.78B | 74.77B | 61.89B | 60.88B | 54.7B | 41.45B | 33.09B | 27.67B |
| Total Non-Current Liabilities | 66.13B | 59.19B | 52.47B | 45.98B | 12.84B | 10.93B | 13.8B | 12.51B | 11.09B | 11.62B | 11.43B | 11.5B | 10.04B | 9.7B | 7.43B | 8.13B | 8.55B | 8.84B | 4.42B | 14.83B | 10.33B | 8.64B | 9.09B | 9.01B | 6.24B | 4.11B | 5.16B | 3.54B | 3.32B | 2.9B | 2.08B |
| Total Liabilities | 364.42B | 338.21B | 327.91B | 273.46B | 276.26B | 287.26B | 288.51B | 221.18B | 219.86B | 216.11B | 221.48B | 224.02B | 252.79B | 222.91B | 201.71B | 197.43B | 142.72B | 143.46B | 160.86B | 131.24B | 100.1B | 91.6B | 87.88B | 81.79B | 81.01B | 66B | 66.04B | 58.24B | 44.77B | 35.98B | 29.75B |
| Total Equity | 27.74B | 27.84B | 25.33B | 23.8B | 25.19B | 27.36B | 26.2B | 24.43B | 24.74B | 22.32B | 21.22B | 21.14B | 21.33B | 20.38B | 20.87B | 19.4B | 17.79B | 14.49B | 12.77B | 11.3B | 7.25B | 6.37B | 6.16B | 5.75B | 4.79B | 3.85B | 3.26B | 2.65B | 2.31B | 2B | 1.77B |
| Equity Growth % | 31.17% | 9.93% | 6.42% | -5.53% | -7.94% | 4.44% | 7.24% | -1.24% | 10.84% | 5.17% | 0.4% | -0.9% | 4.66% | -2.35% | 7.58% | 9.06% | 22.75% | 13.44% | 13.05% | 55.81% | 13.9% | 3.38% | 7.17% | 20.05% | 24.5% | 17.87% | 23% | 14.76% | 15.84% | 12.39% | 11.81% |
| Equity / Assets (Capital Ratio) | 7.07% | 7.61% | 7.17% | 8.01% | 8.36% | 8.7% | 8.33% | 9.95% | 10.11% | 9.36% | 8.74% | 8.62% | 7.78% | 8.38% | 9.38% | 8.95% | 11.08% | 9.17% | 7.36% | 7.93% | 6.76% | 6.5% | 6.55% | 6.57% | 5.58% | 5.5% | 4.71% | 4.35% | 4.91% | 5.25% | 5.63% |
| Return on Equity (ROE) | 11.09% | 11.08% | 10.94% | 7.94% | 10.56% | 10.06% | 9.56% | 9.12% | 11.02% | 9.9% | 10.12% | 9.33% | 9.7% | 9.94% | 10.24% | 10.33% | 9.64% | -13.8% | 15.05% | 13.59% | 16.24% | 13.38% | 13.41% | 13.71% | 23.52% | 17.67% | 20.12% | 24.94% | 20.25% | 20.16% | 17.43% |
| Book Value per Share | 98.07 | 96.33 | 83.80 | 72.88 | 68.06 | 76.44 | 73.37 | 65.38 | 65.71 | 58.70 | 53.57 | 51.10 | 49.37 | 44.77 | 43.38 | 39.10 | 35.72 | 30.57 | 30.70 | 30.91 | 21.60 | 19.03 | 18.14 | 17.14 | 14.62 | 11.63 | 9.94 | 8.10 | 7.05 | 6.09 | 5.39 |
| Tangible BV per Share | 66.28 | 64.86 | 54.75 | 45.53 | 43.64 | 50.08 | 46.74 | 39.73 | 39.64 | 38.62 | 34.47 | 33.11 | 31.20 | 26.33 | 25.68 | 22.77 | 19.27 | 17.15 | 15.37 | 12.97 | 16.19 | 13.66 | 12.27 | 11.62 | 12.82 | 9.78 | 9.94 | 8.10 | 7.05 | 6.09 | 5.39 |
| Common Stock | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 504M | 502M | 495M | 432M | 398M | 337M | 337M | 337M | 337M | 330M | 330M | 167M | 167M | 167M | 0 | 0 |
| Additional Paid-in Capital | 10.7B | 10.71B | 10.72B | 10.74B | 10.73B | 10.79B | 10.21B | 10.13B | 10.06B | 9.8B | 9.78B | 9.75B | 9.79B | 9.78B | 9.67B | 9.56B | 9.36B | 9.18B | 6.99B | 4.63B | 399M | 266M | 289M | 329M | 104M | 110M | 69M | 55M | 63M | 0 | 0 |
| Retained Earnings | 31.86B | 31.39B | 29.58B | 27.96B | 27.03B | 25.24B | 23.44B | 21.92B | 20.55B | 18.86B | 17.46B | 16.05B | 14.74B | 13.39B | 11.75B | 10.18B | 8.63B | 7.07B | 9.13B | 7.75B | 7.03B | 6.19B | 5.59B | 5.01B | 4.47B | 3.61B | 3.28B | 2.79B | 2.27B | 1.92B | 1.69B |
| Accumulated OCI | -1.28B | -1.04B | -2.1B | -2.35B | -3.71B | -1.13B | 187M | -876M | -1.36B | -1.01B | -2.04B | -1.44B | -507M | -95M | 360M | -659M | -689M | -2.24B | -5.65B | -575M | -224M | -231M | 92M | 192M | 106M | 70M | -1M | -57M | 22M | 11M | 12M |
| Treasury Stock | -17.6B | -17.28B | -16.2B | -15.03B | -11.34B | -10.01B | -10.61B | -10.21B | -8.71B | -9.03B | -7.68B | -6.46B | -5.16B | -3.69B | -1.9B | -680M | -16M | -17M | -18M | -899M | -290M | -194M | -149M | -118M | -225M | -277M | -251M | -308M | -213M | 0 | 0 |
| Preferred Stock | 3.56B | 3.56B | 2.82B | 1.98B | 1.98B | 1.98B | 2.47B | 2.96B | 3.69B | 3.2B | 3.2B | 2.7B | 1.96B | 491M | 489M | 500M | 0 | 0 | 1.88B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Deposit and Liquidity Volatility
According to recent quarterly filings, State Street's total assets grew from $297.3 billion in 2023Q4 to $392.2 billion in 2026Q1, reflecting a significant expansion in the firm's balance sheet footprint that appears driven by fluctuating client deposit levels rather than organic growth in core servicing assets.
The upward trajectory in total assets suggests a business model that remains highly sensitive to institutional liquidity flows. Investors should monitor whether this expansion represents sustainable client acquisition or merely temporary balance sheet bloating that complicates capital efficiency metrics.
As reported in financial statements, State Street's debt-to-equity ratio reached 1.09 in 2026Q1, a level that remains consistent with the firm's historical range of 1.02 to 1.51, suggesting that management continues to maintain a disciplined approach to leverage despite the inherent capital requirements of a G-SIB.
The fluctuation in debt levels appears to be a strategic response to managing capital adequacy ratios rather than a sign of distress. The firm's ability to keep leverage within this band implies a stable, albeit capital-intensive, operational structure that prioritizes regulatory compliance over aggressive balance sheet expansion.
Based on reported figures, State Street's cash position experienced extreme variance, plummeting from $143.7 billion in 2023Q4 to $50.3 billion in 2025Q4 before rebounding to $142.1 billion in 2026Q1, highlighting the significant impact of institutional client deposit movements on the firm's immediate liquidity profile.
The erratic nature of the cash balance suggests that the firm's liquidity position is heavily influenced by external market conditions and client behavior. This volatility warrants further investigation into the stability of the deposit base, as reliance on transient institutional cash may create unexpected pressure on the firm's liquidity ratios.
Data from the past ten quarters indicates that State Street's equity base has grown steadily from $23.8 billion in 2023Q4 to $27.7 billion in 2026Q1, primarily driven by the consistent accumulation of retained earnings, which rose from $28.0 billion to $31.9 billion over the same period.
The steady accretion of retained earnings suggests that the firm is successfully generating internal capital to support its operations and dividend commitments. This trend appears to provide a necessary buffer against the volatility observed in other balance sheet components, reinforcing the firm's long-term financial stability.
As disclosed in recent regulatory filings, State Street carries $8.1 billion in goodwill as of 2026Q1, a figure that has remained relatively stable over the last ten quarters, suggesting that the firm's past acquisitions continue to be valued at their original carrying amounts despite shifting market conditions.
While the stability of goodwill may imply successful integration of past acquisitions, it also presents a potential risk if future performance in the servicing segment fails to meet expectations. Investors should monitor for any signs of impairment, as a write-down could significantly impact the firm's equity base and regulatory capital ratios.
Quick answers to the most common questions about buying STT stock.
As of 2025, State Street Corporation (STT) had total assets of $366.05B including $190.10B in current assets.
State Street Corporation (STT) carries total debt of $29.80B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
State Street Corporation (STT) has total shareholders' equity (book value) of $27.84B ($96.33 book value per share). Book value represents the net worth of the company belonging to common stock holders.
State Street Corporation (STT) reported a current ratio of 0.68x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.