Explain this page
Arphra AIPlain-English read on State Street Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +100.25% | +88.56% | +64.79% | +58.45% | +61.36% | +61.81% | +62.76% | +62.16% | +62.30% |
| Operating margin | +26.36% | +24.34% | +12.61% | +15.45% | +16.49% | +14.67% | +14.76% | +15.10% | +14.43% |
| EBITDA margin | +39.30% | +32.80% | +17.41% | +18.20% | +18.94% | +18.03% | +18.50% | +18.30% | +18.10% |
| EBIT margin | +26.36% | +24.34% | +12.61% | +15.45% | +16.49% | +14.41% | +14.54% | +15.00% | +14.48% |
| Pre-tax margin | +26.36% | +24.34% | +12.61% | +15.45% | +16.49% | +15.09% | +15.00% | +14.85% | +14.75% |
| Net margin | +22.39% | +20.29% | +10.58% | +12.23% | +13.01% | +11.66% | +12.20% | +12.07% | +12.11% |
| Cost structure | |||||||||
| Cost of revenue / sales | -0.25% | +11.44% | +35.21% | +41.55% | +38.64% | +38.67% | +37.71% | +37.65% | +37.56% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +38.73% | +32.75% | +25.61% | +22.09% | +23.24% | +23.85% | +23.05% | +23.91% | +23.35% |
| Effective tax rate | +15.07% | +16.62% | +16.06% | +20.85% | +21.07% | +19.48% | +19.44% | +19.49% | +19.65% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +9.84% | +11.01% | +8.17% | +10.61% | +10.58% | +9.54% | +9.85% | +10.00% | +10.01% |
| Return on assets (ROA) | +0.86% | +0.92% | +0.65% | +0.76% | +0.80% | +0.71% | +0.75% | +0.75% | +0.77% |
| Return on capital (ROC) | +7.45% | +7.66% | +4.81% | +5.47% | +6.47% | +5.50% | +5.56% | +5.64% | +5.39% |
| Return on invested capital (ROIC) | +6.33% | +6.38% | +4.04% | +4.33% | +5.11% | +4.38% | +4.60% | +4.51% | +4.52% |
| Asset turnover | +3.82% | +4.53% | +6.18% | +6.22% | +6.18% | +6.11% | +6.12% | +6.23% | +6.36% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +22.39% | +20.29% | +10.58% | +12.23% | +13.01% | +11.66% | +12.20% | +12.07% | +12.11% |
| Asset turnover (× revenue / assets) | +3.82% | +4.53% | +6.18% | +6.22% | +6.18% | +6.11% | +6.12% | +6.23% | +6.36% |
| Equity multiplier (× assets / equity) | +1149.82% | +1196.66% | +1249.04% | +1394.77% | +1314.78% | +1339.92% | +1318.85% | +1329.98% | +1298.26% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.04 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Fixed-asset turnover | 4.29 | 4.86 | 5.73 | 6.22 | 7.13 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 2.97 | 3.07 | 3.20 | 4.64 | 0.52 | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 122.70 | 118.99 | 114.17 | 78.72 | 697.63 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | 122.70 | 118.99 | 114.17 | 78.72 | 697.63 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -2.49 | 4.31 | 0.35 | -4.92 | 1.82 | -0.92 | -0.87 | -0.93 | -0.92 |
| FCF / Net income | -2.79 | 4.04 | -0.06 | -5.26 | 1.46 | -1.32 | -1.25 | -1.28 | -1.24 |
| FCF margin | -62.52% | +82.08% | -0.69% | -64.33% | +18.96% | -15.34% | -15.21% | -15.48% | -15.03% |
| OCF margin | -55.78% | +87.45% | +3.76% | -60.12% | +23.63% | -10.74% | -10.62% | -11.23% | -11.19% |
| CapEx / Revenue | +6.74% | +5.37% | +4.44% | +4.21% | +4.66% | +4.55% | +4.35% | +4.46% | +4.42% |
| CapEx / D&A | 0.52 | 0.63 | 0.93 | 1.53 | 1.90 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | +1.91% | 0.00% | 0.00% | +1.26% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 7.19 | 7.19 | 5.58 | 8.21 | 9.40 | 12.43 | 13.80 | 15.74 | 17.80 |
| EPS · basic | 7.30 | 7.28 | 5.65 | 8.33 | 9.55 | 12.47 | 14.11 | 15.94 | 18.08 |
| Book value / share | 76.44 | 68.06 | 72.88 | 83.80 | 96.33 | 64.35 | 68.26 | 70.31 | 71.56 |
| Tangible BV / share | 50.08 | 43.64 | 45.53 | 54.75 | 64.86 | 64.35 | 68.26 | 70.31 | 71.56 |
| Sales / share | 33.61 | 36.93 | 56.24 | 72.70 | 78.29 | 52.66 | 55.11 | 58.24 | 59.13 |
| Operating CF / share | -18.75 | 32.30 | 2.11 | -43.71 | 18.50 | -5.65 | -5.85 | -6.54 | -6.62 |
| Free cash flow / share | -21.01 | 30.32 | -0.39 | -46.77 | 14.85 | -8.08 | -8.38 | -9.01 | -8.89 |
| Dividends / share | 2.10 | 2.63 | 2.97 | 3.42 | 3.09 | 2.37 | 2.56 | 2.67 | 2.75 |
| Payout ratio | +27.92% | +35.04% | +49.90% | +38.44% | +30.36% | +38.66% | +38.11% | +37.91% | +38.43% |
| Retention ratio | +72.08% | +64.96% | +50.10% | +61.56% | +69.64% | +61.34% | +61.89% | +62.09% | +61.57% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +13.62% | +34.36% | +19.64% | +2.98% | -32.80% | +4.25% | +5.88% | +2.16% | +4.53% |
| Gross profit · YoY | — | +0.37% | -1.70% | +7.94% | +8.10% | -32.30% | +5.85% | +4.87% | +2.39% | -1.50% |
| Profit | ||||||||||
| Operating income · YoY | — | +4.92% | -30.39% | +46.59% | +9.90% | -40.21% | +4.89% | +8.30% | -2.37% | -3.05% |
| EBITDA · YoY | — | -5.18% | -28.66% | +25.08% | +7.12% | -36.02% | +6.97% | +4.76% | +1.03% | -5.12% |
| Net income · YoY | — | +3.01% | -29.92% | +38.22% | +9.60% | -39.77% | +9.02% | +4.79% | +2.47% | -3.20% |
| Operating | ||||||||||
| EBIT · YoY | — | +4.92% | -30.39% | +46.59% | +9.90% | -41.25% | +5.14% | +9.27% | -1.41% | -3.01% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | 0.00% | -22.39% | +47.13% | +14.49% | +32.22% | +11.07% | +14.05% | +13.03% | +11.99% |
| EPS · basic · YoY | — | -0.27% | -22.39% | +47.43% | +14.65% | +30.61% | +13.16% | +12.93% | +13.44% | +12.01% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $15.18B | $18.27B | $24.37B | $36.79B | $29.81B | $21.95B | $22.43B | $24.68B | $25.16B |
| Net debt | -$94.87B | -$87.36B | -$67.35B | -$79.31B | -$101.56B | -$60.77B | -$61.5B | -$64.22B | -$64.2B |
| Net debt / EBITDA | -20.07 | -19.49 | -21.06 | -19.83 | -23.70 | -22.16 | -20.97 | -20.90 | -20.68 |
| Debt / equity | 0.55 | 0.73 | 1.02 | 1.45 | 1.07 | 1.18 | 1.14 | 1.22 | 1.21 |
| Debt / assets | +4.82% | +6.06% | +8.20% | +10.42% | +8.14% | +8.81% | +8.66% | +9.16% | +9.34% |
| Equity / assets | +8.70% | +8.36% | +8.01% | +7.17% | +7.61% | +7.46% | +7.58% | +7.52% | +7.70% |
| Coverage | |||||||||
| EBITDA / interest expense | 1576.00 | 2.90 | 0.50 | 0.44 | 0.49 | 0.48 | 0.49 | 0.49 | 0.47 |
| Operating income / interest | 1057.00 | 2.15 | 0.36 | 0.37 | 0.43 | 0.39 | 0.39 | 0.40 | 0.37 |
| Interest expense | $3M | $1.54B | $6.42B | $9.05B | $8.68B | $5.73B | $6.02B | $6.27B | $6.62B |
| Liquidity | |||||||||
| Current ratio | 0.68 | 0.57 | 0.63 | 0.51 | 0.68 | — | — | — | — |
| Quick ratio | 0.68 | 0.57 | 0.62 | 0.51 | 0.68 | — | — | — | — |
| Cash ratio | 0.40 | 0.40 | 0.40 | 0.42 | 0.47 | — | — | — | — |
| Working capital | -$87.68B | -$112.2B | -$84.89B | -$135.41B | -$88.91B | — | — | — | — |
| Working capital / revenue | -728.86% | -820.86% | -462.23% | -616.27% | -392.91% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).