State Street (STT) FY2023 results: revenue $11.9 billion, down 1.7% on the year
State Street Corp. (STT) reported revenue of $11.9 billion for fiscal 2023, the year ended 31 December 2023, down 1.7% on the year before. Net income was $1.9 billion, down 29.9%, and diluted earnings per share $5.58. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$11.9 billion
-1.7% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$1.9 billion
-29.9% on the year
FY2016FY2023
Diluted EPS
$5.58
-22.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
690
11,954
-6,710
-94.2%
Capital expenditure
816
734
811
+11.2%
Free cash flow
-126
11,220
-7,521
Cash from investing
12,738
6,816
-2,172
+86.9%
Cash from financing
-13,351
-18,431
9,046
Buybacks
3,781
1,500
900
+152.1%
Dividends paid
970
972
866
-0.2%
Dividend per share
$2.64
$2.40
$2.18
+10.0%
Diluted shares, weighted
327m
370m
358m
-11.8%
Shares outstanding at period end
302m
349m
366m
-13.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
23,799
25,191
27,363
-5.5%
Deposits
220,970
235,464
255,035
-6.2%
Debt
24,366
18,270
15,178
+33.4%
Other liabilities
28,123
22,525
17,048
+24.9%
Total liabilities and equity
297,258
301,450
314,624
-1.4%
Fixed assets
2,399
2,315
2,261
+3.6%
Goodwill
7,611
7,495
7,621
+1.5%
Intangible assets
1,320
1,544
1,816
-14.5%
Securities held for sale or to maturity
101,643
105,279
115,829
-3.5%
Loans
36,496
32,053
32,445
+13.9%
Trading assets
773
650
758
+18.9%
Cash and equivalents
4,047
3,970
3,631
+1.9%
Other assets
142,969
148,144
150,263
-3.5%
Total assets
297,258
301,450
314,624
-1.4%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.