State Street (STT) 10-K Summary — Year Ended Dec 31, 2024
State Street Corporation provides financial services to institutional investors. For the most recent fiscal year, revenue grew while net income was reported at a level consistent with the prior period.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
State Street Corporation provides financial services to institutional investors. For the most recent fiscal year, revenue grew while net income was reported at a level consistent with the prior period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$13B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$2.7B
Net income reported for the year.
Operating cash flow
-$13.2B
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% |
| Dec 31, 2024 | $13B | +8.8% |
Business overview
The company operates through investment servicing and investment management segments. Investment servicing includes custody, accounting, and fund administration. Investment management offers asset management and wealth advisory services.
Financial performance
Revenue rose compared to the prior year, while net income was reported at a level similar to the previous year. Operating cash flow was negative for the period.
Material risks
The filing identifies risks related to credit and counterparty exposures, market volatility, and operational risks including information technology and model risk. Strategic and liquidity risks are also discussed.
Liquidity and capital
The filing discusses liquidity risk management and capital levels but does not provide specific capital allocation plans. Off-balance sheet arrangements are disclosed.
What to watch
Readers should monitor changes in net interest income and the provision for credit losses in the next filing.