Discounted Cash Flow
State Street Corp.
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Audit / VIE / HFCA: Financial-sector DCF: free cash flow for lenders/insurers includes loan principal and deposits, so FCF ≈ 5-10× net income and is not a valuation proxy; the model shows moderate/unstable predictability and the DCF can be 5-40× market cap (lender pattern).
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | $7.4b | $1.6b | $1.2b | 21.0% | $5.03 |
| 2017 | $8.1b (9.4%) | $1.6b (1.6%) | $4.6b (275.4%) | 19.5% (-7.2%) | $5.32 (5.8%) |
| 2018 | $8.7b (7.3%) | $1.9b (19.4%) | $7.2b (56.4%) | 21.7% (11.3%) | $6.48 (21.8%) |
| 2019 | $8.5b (-1.9%) | $1.6b (-13.7%) | $3.6b (-49.6%) | 19.1% (-12.1%) | $5.43 (-16.2%) |
| 2020 | $8.5b (-0.5%) | $1.8b (7.9%) | $2.2b (-40.1%) | 20.7% (8.4%) | $6.40 (17.9%) |
| 2021 | $8.7b (2.8%) | $2.0b (11.3%) | $-5.5b (-353.1%) | 22.4% (8.3%) | $7.30 (14.1%) |
| 2022 | $8.8b (1.0%) | $2.0b (3.0%) | $8.1b (249.2%) | 22.8% (2.0%) | $7.28 (-0.3%) |
| 2023 | $8.7b (-1.7%) | $1.4b (-29.9%) | $-91.5m (-101.1%) | 16.3% (-28.7%) | $5.65 (-22.4%) |
| 2024 | $9.4b (8.8%) | $2.0b (38.2%) | $-10.3b (-11119.0%) | 20.7% (27.0%) | $8.33 (47.4%) |
| 2025 | $10.1b (7.3%) | $2.1b (9.6%) | $7.9b (176.7%) | 21.1% (2.2%) | $9.55 (14.6%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in CAD. Values above are converted to USD for comparison with the US-listed share price.
Values abbreviated: b = billions, m = millions, k = thousands.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.