A fixed rule set over this filing's XBRL figures and the number of high-severity risks found in it — no model judgement.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
State Street Corporation reported strong Q2 FY2026 financial performance, with total revenue rising 17.4% to $4.05B and net income jumping 56.4% to $1.08B, supported by record levels in assets under custody and administration.
Revenue
$4.05B
+17.40% YoY
EPS (Diluted)
$3.65
+68.20% YoY
State Street (STT) reported Q2 FY2026 revenue of $4.05B, up 17.4% year over year. The company posted net income of $1.08B, up 56.4% from a year earlier, with diluted EPS of $3.65. STT's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
State Street delivered strong Q2 FY2026 results with revenue up 17.4% to $4.05B and diluted EPS up 68.2% to $3.65, supported by record AUC/A of $57.86T.
Last 4 quarters: 3 beats, 1 miss
Reported EPS of $3.65 versus the $3.36 analyst consensus — a +8.5% beat for Jun 2026.
Total revenue for Q2 FY2026 grew 17% year-over-year to $4.05B, propelled by a 17% increase in total fee revenue to $3.19B and an 18% increase in Net Interest Income (NII) to $860M. NII growth was primarily driven by a 17 bps expansion in Net Interest Margin.
Source: 10-Q Item 2 MD&A, p.8
Assets Under Custody and/or Administration (AUC/A) reached $57.86T as of June 30, 2026, up 18% year-over-year due to higher market levels, client flows, and net new business. Assets Under Management (AUM) expanded 23% year-over-year to $6.28T.
Source: 10-Q Item 2 MD&A, p.8
Total expenses grew 5% year-over-year to $2.66B, driven by higher revenue-related costs and strategic investments, offset by the absence of prior-year notable items ($138M in Q2 2025). Pre-tax margin expanded significantly to 34.3% from 25.8% in Q2 2025.
Source: 10-Q Item 2 MD&A, p.8
In Q2 FY2026, State Street returned $631M to shareholders via $400M in common share repurchases (2.5M shares at an average price of $159.63) and $231M in dividends ($0.84 per share). Management declared a subsequent 10% dividend increase to $0.92 per share for Q3 FY2026.
Source: 10-Q Item 2 MD&A, p.9
State Street maintains a high debt-to-equity ratio of 13.80, with total liabilities of $390.11B compared to $28.27B in equity. While common for major bank holding companies, high leverage exposes the firm to systemic interest rate shifts and regulatory capital requirement changes.
Source: 10-Q Balance Sheet (XBRL)
Year-to-date operating cash flow was -$14.47B compared to -$6.05B in the prior-year period. Negative operating cash flows reflect substantial working capital and operating asset shifts inherent in large-scale custodial and institutional banking operations.
Source: 10-Q Cash Flow Statement (XBRL)
With fee revenue comprising $3.19B of total $4.05B quarterly revenue, State Street's profitability remains heavily dependent on financial market levels that directly affect its $57.86T in AUC/A and $6.28T in AUM.
Source: 10-Q Income Statement (XBRL)
This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.
State Street (STT) is next expected to report on , when the following quarter's results and any updated outlook will be available.
See the STT earnings preview — expected date, analyst estimates and what to watch →
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $4.05B | $3.45B | +17.40% |
Net Income | $1.08B | $693M | +56.42% |
EPS (Basic) | $3.71 | $2.20 | +68.64% |
EPS (Diluted) | $3.65 | $2.17 | +68.20% |
State Street reported strong financial results in Q2 FY2026, with diluted EPS rising 68.2% YoY to $3.65 and total revenue growing 17.4% YoY to $4.05B. Net income available to common shareholders also expanded significantly to $1.03B from $630M in Q2 FY2025.
Key highlights include a 17% increase in fee revenue to $3.19B and an 18% increase in net interest income to $860M. In addition, AUC/A rose to $57.86T and AUM grew to $6.28T, allowing pre-tax margins to expand to 34.3%.
State Street returned $631M to shareholders in Q2 FY2026, comprising $400M in common share buybacks (2.5M shares at $159.63 per share) and $231M in dividends. Management also announced a 10% dividend increase to $0.92 per share for Q3 FY2026.
State Street (STT) is next expected to report earnings on Oct 15, 2026. The date comes from the analyst earnings calendar and can shift until the company confirms it.
Expected release date, analyst estimates & what to watch
State Street Corporation delivered strong Q1 FY2026 results with revenue rising 15.6% YoY to $3.80B and net income up 18.6% to $764M, though operating cash flow swung sharply negative at -$12.14B primarily due to balance sheet dynamics typical of large custodian banks.
State Street Corporation (STT) delivered solid FY2025 results with revenue growing 7.3% to $13.9B and net income rising 9.6% to $2.9B, while operating cash flow swung dramatically positive to $11.9B from a prior-year outflow.
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