State Street

STT · NYSE

Q3 FY26 · Ended Sep 30, 2026 · View SEC filing

Interest profit rose while interest earned stood still

Net interest income grew 20.8% on lower funding costs, not higher yields, so it hangs on deposits and short rates.

For investorsWhat keeps the interest income gain in place

For foundersEarning several times on one client relationship

Assets under management: $6.3TAs of Sep 30, 2026
Revenue: $4.0BQ3 FY26, quarter · +21.9% on the year
Net margin: 27.2%Q3 FY26, quarter

About these figures

Assets under management: Clients' assets the company manages or holds. It earns fees on them; they are not its own.
Assets under management: a balance on the date shown, from State Street Corporation's 10-Q, management's discussion and analysis.
Revenue: a flow over the period, from State Street Corporation's 10-Q, income statement.
Net margin: a flow over the period, from State Street Corporation's 10-Q, income statement.

What stands out · Q3 FY26

34.7%
of revenue kept before tax
A largely fixed cost base turned growth into profit
Revenue rose 12.95% while expenses rose 7.6%, so most of the extra revenue reached pre-tax profit.
0.0025%
of custody assets, earned as fees
Custody assets grew faster than the fees on them
Assets under custody rose 15% but servicing fees 9.95%, which fits the pricing pressure the filing names.
Edge
Slow installs build a backlog and sticky clients
Business won but not yet installed equals 5.0% of assets already in custody, and moving providers is costly for clients.

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Business Lens describes State Street Corporation from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.

State Street

STT · NYSE

Q3 FY26 · Ended Sep 30, 2026 · View SEC filing

Interest profit rose while interest earned stood still

Net interest income grew 20.8% on lower funding costs, not higher yields, so it hangs on deposits and short rates.

For investorsWhat keeps the interest income gain in place

For foundersEarning several times on one client relationship

Assets under management: $6.3TAs of Sep 30, 2026
Revenue: $4.0BQ3 FY26, quarter · +21.9% on the year
Net margin: 27.2%Q3 FY26, quarter

About these figures

Assets under management: Clients' assets the company manages or holds. It earns fees on them; they are not its own.
Assets under management: a balance on the date shown, from State Street Corporation's 10-Q, management's discussion and analysis.
Revenue: a flow over the period, from State Street Corporation's 10-Q, income statement.
Net margin: a flow over the period, from State Street Corporation's 10-Q, income statement.

What stands out · Q3 FY26

34.7%
of revenue kept before tax
A largely fixed cost base turned growth into profit
Revenue rose 12.95% while expenses rose 7.6%, so most of the extra revenue reached pre-tax profit.
0.0025%
of custody assets, earned as fees
Custody assets grew faster than the fees on them
Assets under custody rose 15% but servicing fees 9.95%, which fits the pricing pressure the filing names.
Edge
Slow installs build a backlog and sticky clients
Business won but not yet installed equals 5.0% of assets already in custody, and moving providers is costly for clients.

Free membership

The full State Street analysis is yours to explore.

Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.

Explore the full State Street reportAlready a member? Sign in

Free CXProWealth membership required

Read a sample reportNVIDIA Microsoft American Express Eli Lilly Delta Air Lines ConocoPhillips Costco Domino's All companies →

State Street

A largely fixed cost base turned growth into profit

Custody assets grew faster than the fees on them

Slow installs build a backlog and sticky clients

The full State Street analysis is yours to explore.

State Street

A largely fixed cost base turned growth into profit

Custody assets grew faster than the fees on them

Slow installs build a backlog and sticky clients

The full State Street analysis is yours to explore.