STT · NYQ · Financial Services
State Street Corporation
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 99.05
Market price
USD 169.31
Implied upside
-41.5%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 11.4%
- Payout
- 42%
- Cost of equity
- 10.18%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 24.3bn | USD 25.8bn | USD 27.3bn | USD 28.8bn | USD 30.2bn | USD 31.6bn | USD 32.9bn | USD 34.1bn | USD 35.3bn | USD 36.3bn |
| Return on equity | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% | 11.4% |
| Excess return | USD 289.9m | USD 308.0m | USD 325.9m | USD 343.5m | USD 360.6m | USD 377.1m | USD 392.8m | USD 407.5m | USD 421.1m | USD 433.3m |
| Present value | USD 263.1m | USD 253.7m | USD 243.6m | USD 233.0m | USD 222.1m | USD 210.7m | USD 199.2m | USD 187.6m | USD 175.9m | USD 164.3m |
| Book equity | USD 24.3bn |
| Present value of excess returns | USD 2.2bn |
| Terminal, growing at 2.50% | USD 2.2bn |
| Equity value | USD 28.6bn |
| Per share | USD 99.05 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 1.251 | Reported 1.374, pulled toward 1.0 (Blume) |
| Cost of equity | 10.18% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.