The raised FY2026 guidance and record operating metrics confirm accelerating organic growth. Traders should watch for continued servicing fee wins and AUM inflows as catalysts. The 10% dividend hike signals management confidence in capital generation. Monitor Q3 for further margin expansion as transformation benefits accrue.
Price Chart
Executive Summary
State Street reported record Q2 2026 results with total revenue of $4.05B (+17% YoY) and diluted EPS of $3.65 (+68% YoY), driven by broad-based fee revenue growth, record AUCA/AUM, and NII expansion. Management raised FY2026 guidance and announced a 10% dividend increase, signaling strong momentum and confidence in medium-term targets.
Key Financial Metrics
Key Facts
- Q2 2026 diluted EPS $3.65 vs $2.17 in Q2 2025 (+68% YoY)
- Total revenue $4.05B, up 17% YoY (record level)
- Fee revenue $3.19B, up 17% YoY; Servicing fees +13%, Management fees +29%, FX trading +26%
- Net interest income $860M, up 18% YoY; NIM expanded 17bps to 1.13%
- Record AUCA $57.9T (+18% YoY) and AUM $6.3T (+23% YoY)
- Pre-tax margin 34.3% vs 25.8% a year ago; ROTCE 25.5% vs 16.7%
- FY2026 guidance raised: fee revenue +12-13% YoY (prior +7-9%), NII +14-15% (prior +8-10%)
- 10% dividend increase to $0.92/share declared for Q3
- $631M returned to shareholders in Q2 ($400M buybacks, $231M dividends)
- Standardized CET1 ratio 10.8%, Tier 1 leverage 5.3%, SLR 6.2%
Financial Impact
Revenue up $600M YoY to $4.05B; EPS up $1.48 YoY to $3.65; pre-tax margin expanded 850bps to 34.3%
Risk Factors
- Interest rate sensitivity: NIM could compress if rate cuts accelerate or deposit mix shifts unfavorably
- Market-dependent fee revenue: equity market declines would pressure AUM-based management fees
- Expense growth: FY2026 expense guidance raised to +8% YoY, partly offsetting operating leverage
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000093751-26-000387 |
| Document: a2q26earningspressrelease.htm | 0000093751-26-000387 |
| Document: stt2q26earningspresentat.htm | 0000093751-26-000387 |
| Document: stt-20260716.htm | 0000093751-26-000387 |
| Document: 0000093751-26-000387-index-headers.html | 0000093751-26-000387 |
| Document: 0000093751-26-000387-index.html | 0000093751-26-000387 |
| Document: 0000093751-26-000387.txt | 0000093751-26-000387 |
| 8-K Data (Synthetic) | 0000093751-26-000387 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $188.16 $184.40 | ▼ −2.00% | ▼ −2.10% | $176.07 (−6.42%) |
Aug 5, 2026 8w ago | 424B5 | $187.05 $190.11 | ▲ +1.64% | ▲ +1.29% | $176.07 (−5.87%) |
Jul 28, 2026 9w ago | Insider Cluster | $182.57 $183.67 | ▲ +0.60% | ▼ −1.67% | $176.07 (−3.56%) |
Jul 23, 2026 10w ago | Insider Cluster | $184.21 $182.82 | ▼ −0.75% | ▼ −1.23% | $176.07 (−4.42%) |
Jul 16, 2026 11w ago | 8-K | $185.66 $184.21 | ▼ −0.78% | ▲ +0.89% | $176.07 (−5.16%) |
Jun 15, 2026 15w ago | Insider Cluster | $171.29 $173.73 | ▲ +1.42% | ▲ +3.66% | $176.07 (+2.79%) |
May 28, 2026 18w ago | Insider Cluster | $155.42 $161.21 | ▲ +3.73% | ▲ +6.25% | $176.07 (+13.29%) |
Apr 24, 2026 22w ago | 8-K | $22.35 $22.16 | ▼ −0.87% | ▼ −1.27% | $176.07 (+687.81%) |
Apr 22, 2026 23w ago | Insider Cluster | $152.26 $151.88 | ▼ −0.25% | ▼ −0.30% | $176.07 (+15.64%) |
Apr 21, 2026 23w ago | 424B5 | $22.20 $22.35 | ▲ +0.68% | ▼ −0.41% | $176.07 (+693.13%) |
US Market Status
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