State Street (STT) 10-K Summary — Year Ended Dec 31, 2023

State Street Corporation's annual filing details its financial services operations and reports a decline in revenue compared to the previous year. Net income and operating cash flow reflect the company's financial performance.

Key takeaway

Year ended Dec 31, 2023 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$11.9B

Revenue reported for the fiscal year.

Operating income

n/a

Income from operations reported for the year.

Net income

$1.9B

Net income reported for the year.

Operating cash flow

$690M

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$12B	n/a
Dec 31, 2022	$12.1B	+1.0%
Dec 31, 2023	$11.9B	-1.7%

Business overview

The company provides investment servicing and investment management to institutional investors globally. Its business segments include Investment Servicing and Investment Management. The filing describes these operations and the company's strategic focus.

Financial performance

Revenue decreased from the prior year, while net income was reported. Operating cash flow indicates the cash generated from operations. The filing outlines the financial results for the period.

Material risks

Material risks include market, operational, credit, and regulatory risks. The company also faces risks related to information technology and strategic decisions. These are detailed in the risk factors section.

Liquidity and capital

The company discusses its capital position and liquidity risk management. It maintains a focus on capital allocation and off-balance sheet arrangements.

What to watch

Investors should monitor changes in revenue from the investment servicing business in the next filing.