Saturday 17 October 2026 Export NTB’s income statement to Excel — free account

Bank of N.T. Butterfield & Son Limited (The)

Bank of N.T. Butterfield & Son Limited (The)’s revenue for fiscal 2025 (year ended December 2025) was $800.0 million, down 1.93% from fiscal 2024. In the quarter to June 2026, revenue grew 1.01%, EPS fell 7.03% and free cash flow fell 42.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.

58.65 0.37 +0.63%

Follow NTB

Alert me

Market cap: $2.3B
P/E: 10.0×
Fwd P/E: 9.4×
Dividend yield: 3.41%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.56

Total sells 23.07

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	—	—	—	—	—
Sell	—	—	—	—	—	—	—	1	4	6	—	—

Insider Ownership 2.00%

Capital & Financial Ratios $m

Market Cap 2,290.00

Revenue 798.90

Net Income 234.39

Free Cash Flow 210.24

Net Debt (3,731.21)

Current Ratio 0.64

Debt/Equity 0.00

P/E ratio 10.04

Fwd P/E 9.35

P/S ratio 2.89

P/B ratio 2.01

Past 5Y EPS Growth 13.53%

This Y EPS Growth 8.53%

Next Y EPS Growth 9.04%

Next Y revenue growth (20.01%)

Next 5Y EPS Growth 14.36%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 56.71%

10-year low 10-year high

P/S against its own 10 years 46.46%

10-year low 10-year high

P/B against its own 10 years 64.48%

10-year low 10-year high

Dividends

Payout Ratio 0.35

Annual Dividend Rate 2.00

Annual Dividend Yield 3.41%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.00	0.50 0.50 0.50
2025	1.88	0.44 0.44 0.50 0.50
2024	1.76	0.44 0.44 0.44 0.44
2023	1.76	0.44 0.44 0.44 0.44
2022	1.76	0.44 0.44 0.44 0.44
2021	1.76	0.44 0.44 0.44 0.44
2020	1.76	0.44 0.44 0.44 0.44
2019	1.76	0.44 0.44 0.44 0.44
2018	1.52	0.38 0.38 0.38 0.38
2017	1.28	0.32 0.32 0.32 0.32
2016	0.30	0.10 0.10 0.10 0.10

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,872	3,784	3,562	3,731
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	7,618	8,469	8,155	8,394

	2023	2024	2025	Q'26
Payables	11,987	12,746	12,698	12,911
ST’ Debt	—	—	—	—
Other	—	—	—	—
	12,183	13,028	12,869	13,114

Compound Annual Growth %

	10y	5y	3y
Sales	7.24%	8.27%	9.70%
Cash Flow	6.04%	8.24%	8.43%
Earnings	14.24%	9.52%	2.72%
Book Value	4.29%	3.06%	9.71%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	195	200	—	—	—
’25	198	198	201	203	800
’24	198	203	206	209	816
’23	185	184	190	200	758
’22	133	142	155	177	606
’21	129	130	131	134	523
’20	149	128	131	130	538

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	59	59	—	—	—
’25	63	101	52	64	280
’24	28	88	113	36	265
’23	77	77	32	114	300
’22	61	41	45	72	219
’21	52	43	85	72	251
’20	(1)	69	86	35	188

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	50	54	—	—	—
’25	55	94	47	59	255
’24	26	84	106	28	244
’23	70	69	26	82	247
’22	54	36	37	67	194
’21	49	41	86	64	240
’20	(7)	58	81	35	168

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.53	1.16	—	—	—
’25	1.23	1.25	1.46	1.54	5.47
’24	1.13	1.09	1.16	1.34	4.71
’23	1.24	1.22	0.99	1.11	4.58
’22	0.89	0.99	1.15	1.26	4.29
’21	0.83	0.79	0.80	0.84	3.26
’20	0.77	0.67	0.61	0.85	2.90

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	23.75	29.81	29.43	26.08	13.76	29.99	28.67	22.93	28.73	34.77	Analyst estimates 2026–2028 Powerpack
	High	32.90	40.80	53.63	41.84	37.43	41.36	41.69	38.31	40.55	52.11
People
People	Employees	1,240	1,190	1,373	1,512	1,314	1,277	1,341	1,334	1,306	1,315
	Revenue/emp, $m	0.34	0.39	0.39	0.39	0.41	0.41	0.45	0.57	0.62	0.61
Income, $m
Income, $m	Revenue	425	468	537	592	538	523	606	758	816	800
	Gross margin, %	96.13	96.61	95.42	89.96	93.60	95.20	90.96	76.43	71.25	75.87
	EBT	117	154	196	176	150	166	218	226	221	238
	EBT margin, %	27.47	32.97	36.58	29.70	27.82	31.71	35.92	29.85	27.07	29.75
	Net income	116	153	195	177	147	163	214	225	216	232
	Depreciation	52	50	46	48	62	69	40	36	42	37
Per share, $
Per share, $	Revenue	8.73	8.62	9.77	11.13	10.65	10.56	12.22	15.53	18.09	19.36
	Earnings	1.20	2.82	3.55	3.33	2.91	3.28	4.32	4.62	4.80	5.61
	Cash flow	3.66	4.46	5.39	4.68	3.73	5.08	4.42	6.15	5.89	6.77
	Capex	(0.09)	(0.30)	(0.25)	(0.41)	(0.41)	(0.23)	(0.50)	(1.10)	(0.46)	(0.60)
	Free cash flow	3.58	4.15	5.14	4.27	3.32	4.85	3.92	5.05	5.42	6.17
	Book value	14.62	15.16	16.06	18.13	19.44	19.74	17.44	20.56	22.64	27.64
	Shares, m	49	54	55	53	51	50	50	49	45	41
Valuation, ×
Valuation, ×	P/E	22.05	13.02	8.86	11.12	10.71	11.62	6.99	6.95	7.60	8.86
	P/S	3.62	4.26	3.21	3.33	2.93	3.61	2.47	2.06	2.02	2.57
	P/B	2.16	2.42	1.95	2.04	1.60	1.93	1.73	1.56	1.61	1.80
	EV/Sales	(2.64)	0.30	(0.53)	(3.06)	(4.78)	(2.73)	(2.27)	(1.60)	(2.50)	(1.76)
	EV/FCF	(6.46)	0.62	(1.00)	(7.99)	(15.35)	(5.95)	(7.08)	(4.42)	(8.33)	(5.52)
Cash, $m
Cash, $m	Operating cash flow	178	242	296	249	188	251	219	300	265	280
	Capex	(4)	(17)	(14)	(22)	(21)	(11)	(25)	(54)	(21)	(25)
	Free cash flow	174	226	282	227	168	240	194	247	244	255
Balance, $m
Balance, $m	Working capital	(3,666)	(3,766)	(3,244)	(3,636)	(3,831)	(5,187)	(5,035)	(4,565)	(4,560)	(4,714)
	Total debt	117	117	143	144	171	172	172	98	99	—
	Net debt	(2,660)	(1,854)	(2,005)	(3,782)	(4,146)	(3,316)	(2,873)	(2,773)	(3,685)	(3,562)
	Shareholders’ equity	711	823	882	964	982	977	865	1,004	1,021	1,142
Returns, %
Returns, %	ROA	0.55	1.40	1.81	1.43	1.03	1.08	1.44	1.63	1.57	1.64
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	7.99	19.99	22.89	19.18	15.13	16.60	23.23	24.14	21.37	21.45

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MUFG Mitsubishi UFJ Financial Group, Inc.	$246.1B	17.0×	—	+21.62% (above 0%: growing)	+32.35% (above 0%: growing)	−145.30% (below 0%: shrinking)	61.56%	0.00%	Compare
C Citigroup Inc.	$206.7B	12.1×	12.2×	+4.08% (above 0%: growing)	+52.35% (above 0%: growing)	+33.24% (above 0%: growing)	52.26%	0.00%	Compare
SAN Banco Santander, S.A.	$195.8B	10.7×	10.1×	+4.44% (above 0%: growing)	+8.00% (above 0%: growing)	−105.65% (below 0%: shrinking)	100.00%	0.00%	Compare
UBS UBS Group AG	$146.3B	15.5×	14.4×	−40.29% (below 0%: shrinking)	+21.33% (above 0%: growing)	−53.01% (below 0%: shrinking)	100.00%	0.00%	Compare
BBVA Banco Bilbao Viscaya Argentaria S.A.	$141.0B	11.7×	7.7×	+23.54% (above 0%: growing)	+19.23% (above 0%: growing)	+439.38% (above 0%: growing)	100.00%	0.00%	Compare
BNY BNY	$96.4B	15.5×	16.3×	−4.67% (below 0%: shrinking)	+30.67% (above 0%: growing)	+7.45% (above 0%: growing)	57.04%	0.00%	Compare
ING ING Group, N.V.	$93.6B	14.2×	6.6×	+29.83% (above 0%: growing)	+14.75% (above 0%: growing)	−26.97% (below 0%: shrinking)	100.00%	0.00%	Compare
BCS Barclays PLC	$76.0B	8.5×	8.8×	+16.58% (above 0%: growing)	+45.16% (above 0%: growing)	−13.85% (below 0%: shrinking)	100.00%	0.00%	Compare
NTB Bank of N.T. Butterfield & Son Limited (The)	$2.3B	10.0×	9.4×	+1.01% (above 0%: growing)	−7.03% (below 0%: shrinking)	−42.10% (below 0%: shrinking)	79.51%	0.00%
Median of peers	$143.7B	13.1×	10.1×	+10.51%	+26.00%	−20.41%	100.00%	0.00%

All 14 Banks Diversified stocks →

Bank of N.T. Butterfield & Son Limited (The) (NTB) key facts

Concern: Bank of N.T. Butterfield & Son Limited (The)’s revenue for fiscal 2025 (year ended December 2025) was $800.0 million, down 1.93% from fiscal 2024.
Strength: Net income was $231.9 million, or $5.61 per share (basic), a net margin of 29.0%.
Bank of N.T. Butterfield & Son Limited (The) (NTB) is a Banks Diversified company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, NTB traded at $58.65, a market capitalization of $2.3 billion.
At that price the stock trades at 10.0× trailing-twelve-month earnings and 2.9× sales; its P/E is higher than 57% of its own readings over the past ten years.
Bank of N.T. Butterfield & Son Limited (The) pays an annual dividend of $2.00 per share, a yield of 3.41%, with a payout ratio of 35.2%.
Return on equity was 21.5% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.