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State Street Business Segments

Business, geographic, and product segment breakdowns

State Street generates $14.5B in annual revenue across 2 key segments: Investment Management ($34.0M), and Investment Servicing ($277.0M). Based on the Q1 2026 filing.

Investment Management (TTM)$34.0MInvestment Servicing (TTM)$277.0M
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$46.4B
P/E Ratio15.14
ROE11.26%

Products & Services

All other revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Account Servicing$0$0$0$0$0$0
Foreign exchange trading services$0$0$3M$0$0$0
Management fees$0$0$0$0$0$0
Other fee revenue$0$0$0$0$0$0
Securities finance$0$0$0$0$0$0
Software services$0$0$0$0$0$0
Total other income———$0$0$0

Topic 606 revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Account Servicing$1.3B$1.3B$1.3B$1.4B$1.4B$1.4B
Management fees$576M$587M$562M$612M$662M$724M
Foreign exchange trading services$360M$337M$431M$416M$405M$435M
Software services$259M$158M$230M$227M$221M$169M
Securities finance$118M$114M$126M$138M$127M$116M
Other fee revenue$66M$99M$66M$79M$59M$107M
Total other income-$81M——$0$4M$1M

Percentage of consolidated revenues by segment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing and Management Services17.5%17.5%17.5%17.5%17.5%—
Processing and Other Services7.5%7.5%7.5%7.5%7.5%—

Geographic

Income before income tax expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$552M$513M$533M$664M$528M$515M
Non-U.S.$408M$309M$356M$438M$390M$454M

Management fees, percent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-U.S.—24.0%26.0%25.0%—23.0%

Service fees, percent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-U.S.—47.0%48.0%——49.0%

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-U.S.$88.4B$85.7B$100.5B$94.4B$95.7B$94.2B

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$2B$1.9B$2B$2B$2.1B$2.1B
Non-U.S.$1.4B$1.4B$1.5B$1.5B$1.6B$1.7B

Cash and due from banks

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Russia$800M$1.2B$1.3B$1.4B$1.6B$1.6B

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$0$60.8M$60.8M$60.8M$60.8M$2M
Investment Management$0$0$0$0$0$0

Amortization of other intangible assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$52M$53M$54M$54M$55M$55M
Investment Management$2M$1M$2M$2M$2M$2M

Average assets (in billions)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$5.1B$333.9B$350.4B$336.9B—$347.8B
Investment Management$100M$3.4B$3.4B$3.6B$100M$3.9B

Compensation and employee benefits expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$1B$1.1B$1B$1B$1.1B$1.2B
Investment Management$135M$159M$147M$144M$154M$175M

Finite-Lived Intangible Assets, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$1.1B$1B$991M$937M$916M$855M
Investment Management$26M$25M$23M$21M$19M$17M

Foreign currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing-$23M$11M$24M——-$6M
Investment Management$0$0$0$0$0$0

Foreign currency translation and other, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing-$134M$70M$152M——-$39M
Investment Management-$3M$2M$3M——-$1M

Foreign exchange trading services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$324M$337M$390M$364M$350M$432M
Investment Management$36M$0$38M$52M$55M$3M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$7.4B$7.5B$7.7B$7.6B$7.9B$7.9B
Investment Management$263M$265M$268M$268M$268M$267M

Income before income tax expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$818M$657M$819M$858M$882M$850M
Investment Management$199M$165M$208M$244M$242M$249M

Information systems and communications

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$451M$477M$481M$495M$508M$558M
Investment Management$29M$20M$24M$22M$25M$29M

Management fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Management$576M$587M$562M$612M$662M$724M

Net Interest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$742M$709M$726M$711M$799M$832M
Investment Management$7M$5M$3M$4M$3M$3M

Noninterest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$2B$2B$2B$2B$2B$2.2B
Investment Management$430M$431M$417M$440M$487M$492M

Noninterest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$2B$2B$2.1B$2.1B$2.1B$2.2B
Investment Management$622M$591M$622M$680M$726M$738M

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Management$222M$210M$207M$227M$260M$235M
Investment Servicing$288M$223M$260M$252M$266M$214M

Other fee revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$61M$101M$51M$68M$56M$102M
Investment Management$5M-$2M$15M$11M$3M$5M

Pre-tax margin

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Management0.4%28.0%33.3%35.7%0.6%34.0%
Investment Servicing0.6%24.0%28.8%30.0%0.2%28.0%

Provision for Credit Losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$12M$12M$30M$9M$8M$16M
Investment Management$0$0$0$0$0$0

Securities finance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$113M$108M$119M$133M$121M$110M
Investment Management$5M$6M$7M$5M$6M$6M

Servicing fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$1.3B$1.3B$1.3B$1.4B$1.4B$1.4B
Investment Management$0$0$0$0$0$0

Software services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$259M$158M$254M$227M$221M$169M
Investment Management$0$0$0$0$0$0

Total other income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$1M$0$0$1M$3M$1M
Investment Management$0$0$0$0$0$0

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$2.8B$2.7B$2.8B$2.9B$2.9B$3.1B
Investment Management$629M$596M$625M$684M$729M$741M

Transaction processing services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Servicing$201M$216M$221M$229M$208M$230M
Investment Management$44M$42M$39M$47M$48M$53M

Expected revenue, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Software License Sales & SaaS—50.0%50.0%50.0%—50.0%

Remaining performance obligation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Software License Sales & SaaS$1.9B$2.3B$2.2B$2.1B$2.1B$2.1B