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

Northern Trust Corporation

Northern Trust Corporation’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, down 9.92% from fiscal 2024. In the quarter to June 2026, revenue grew 17.0%, EPS grew 98.6%, free cash flow fell 113.3% and total debt fell 22.0%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

165.16 0.28 −0.17%

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Market cap: $30.3B
P/E: 14.1×
Fwd P/E: 15.2×
Dividend yield: 1.99%
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 Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.77

Total sells 15.42

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	2	—	—	1	—	1	—	—	—
Sell	3	1	1	3	2	2	—	1	—	1	—	—

Insider Ownership 2.32%

Capital & Financial Ratios $m

Market Cap 30,270.00

Revenue 15,184.40

Net Income 2,241.40

Free Cash Flow (217.90)

Net Debt (52,940.00)

Current Ratio 0.65

Debt/Equity 0.40

P/E ratio 14.10

Fwd P/E 15.20

P/S ratio 2.00

P/B ratio 2.43

Past 5Y EPS Growth 9.87%

This Y EPS Growth 28.12%

Next Y EPS Growth 11.03%

Next Y revenue growth (35.15%)

Next 5Y EPS Growth 16.76%

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

Valuation vs history

P/E against its own 10 years 31.96%

10-year low 10-year high

P/S against its own 10 years 27.35%

10-year low 10-year high

P/B against its own 10 years 87.47%

10-year low 10-year high

Dividends

Payout Ratio 0.28

Annual Dividend Rate 3.28

Annual Dividend Yield 1.99%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.36	0.80 0.80 0.88
2025	3.10	0.75 0.75 0.80 0.80
2024	3.00	0.75 0.75 0.75 0.75
2023	3.00	0.75 0.75 0.75 0.75
2022	2.90	0.70 0.70 0.75 0.75
2021	2.80	0.70 0.70 0.70 0.70
2020	2.80	0.70 0.70 0.70 0.70
2019	2.60	0.60 0.60 0.70 0.70
2018	1.94	0.42 0.42 0.55 0.55
2017	1.60	0.38 0.38 0.42 0.42
2016	1.48	0.36 0.36 0.38 0.38

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	41,841	45,848	63,782	58,345
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	89,479	89,063	105,555	101,998

	2023	2024	2025	Q'26
Payables	116,164	122,483	142,798	145,580
ST’ Debt	—	—	—	—
Other	—	—	—	—
	126,562	131,625	152,389	155,952

Compound Annual Growth %

	10y	5y	3y
Sales	11.40%	17.81%	22.64%
Cash Flow	11.67%	23.88%	32.25%
Earnings	6.03%	8.03%	9.40%
Book Value	4.06%	2.08%	4.79%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,786	4,212	—	—	—
’25	3,513	3,600	3,579	3,608	14,300
’24	3,564	4,699	3,936	3,676	15,876
’23	2,669	2,981	3,205	3,262	12,117
’22	1,721	1,835	2,041	2,155	7,752
’21	1,593	1,588	1,639	1,669	6,488
’20	1,709	1,540	1,512	1,540	6,301

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(320)	(65)	—	—	—
’25	2,750	1,870	526	388	5,534
’24	(1,453)	2,990	611	(2,635)	(486)
’23	(165)	(99)	87	2,803	2,626
’22	747	(1,611)	(896)	4,152	2,392
’21	68	(1,236)	482	2,042	1,356
’20	(2,685)	3,184	(78)	1,476	1,897

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(539)	(219)	—	—	—
’25	2,566	1,652	358	184	4,759
’24	(1,580)	2,808	402	(2,861)	(1,231)
’23	(294)	(271)	(78)	2,593	1,950
’22	598	(1,779)	(1,074)	3,924	1,669
’21	(37)	(1,339)	347	1,871	841
’20	(2,818)	3,052	(204)	1,306	1,336

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.71	4.23	—	—	—
’25	1.90	2.13	2.29	2.42	8.74
’24	0.96	4.34	2.22	2.26	9.77
’23	1.51	1.56	1.49	0.52	5.08
’22	1.77	1.86	1.80	0.71	6.14
’21	1.70	1.72	1.80	1.91	7.14
’20	1.55	1.46	1.32	1.12	5.46

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	54.38	81.92	75.96	81.75	60.67	88.20	76.15	62.44	76.67	81.62	Analyst estimates 2026–2028 Powerpack
	High	90.96	101.46	115.61	110.48	109.88	126.73	135.15	100.25	111.87	141.25
People
People	Employees	17,100	18,100	18,800	19,800	20,900	21,100	23,600	23,100	23,300	23,800
	Revenue/emp, $m	0.30	0.32	0.35	0.35	0.30	0.31	0.33	0.52	0.68	0.60
Income, $m
Income, $m	Revenue	5,144	5,716	6,659	6,895	6,301	6,488	7,752	12,117	15,876	14,300
	Gross margin, %	96.46	94.05	89.51	88.08	96.82	99.63	87.22	55.90	52.22	56.55
	EBT	1,517	1,634	1,958	1,944	1,628	2,010	1,766	1,465	2,660	2,340
	EBT margin, %	29.49	28.59	29.40	28.20	25.83	30.98	22.79	12.09	16.75	16.36
	Net income	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031	1,737
	Depreciation	474	527	557	524	589	615	613	638	682	711
Per share, $
Per share, $	Revenue	22.60	25.04	29.84	32.14	30.25	31.18	37.21	58.46	78.88	74.73
	Earnings	4.35	4.95	6.68	6.66	5.48	7.16	6.16	5.09	9.80	8.78
	Cash flow	6.64	7.54	7.92	12.08	9.11	6.52	11.48	12.67	(2.41)	28.92
	Capex	(2.08)	(2.07)	(2.27)	(2.80)	(2.69)	(2.48)	(3.47)	(3.26)	(3.70)	(4.05)
	Free cash flow	4.55	5.47	5.65	9.29	6.42	4.04	8.01	9.41	(6.12)	24.87
	Book value	42.93	44.76	47.09	51.70	56.11	57.75	54.05	57.41	63.54	67.72
	Shares, m	228	228	223	215	208	208	208	207	201	191
Valuation, ×
Valuation, ×	P/E	20.75	20.09	12.51	15.95	17.00	16.68	14.60	16.71	10.45	15.54
	P/S	3.97	3.97	2.80	3.31	3.08	3.84	2.41	1.45	1.30	1.83
	P/B	2.30	2.43	1.94	2.32	1.80	2.24	1.80	1.60	1.73	2.17
	EV/Sales	(2.97)	(4.55)	(2.71)	(2.49)	(6.64)	(6.43)	(3.14)	(1.44)	(1.16)	(2.15)
	EV/FCF	(14.74)	(20.85)	(14.30)	(8.61)	(31.33)	(49.63)	(14.58)	(8.93)	14.92	(6.47)
Cash, $m
Cash, $m	Operating cash flow	1,510	1,720	1,768	2,592	1,897	1,356	2,392	2,626	(486)	5,534
	Capex	(473)	(473)	(506)	(600)	(560)	(515)	(723)	(676)	(745)	(774)
	Free cash flow	1,037	1,248	1,262	1,992	1,336	841	1,669	1,950	(1,231)	4,759
Balance, $m
Balance, $m	Working capital	(33,953)	(35,520)	(41,046)	(40,822)	(47,606)	(51,498)	(41,735)	(37,083)	(42,562)	(46,834)
	Total debt	3,105	3,224	3,401	3,999	4,590	3,651	4,790	6,838	6,851	6,836
	Net debt	(35,676)	(48,710)	(36,690)	(39,937)	(61,273)	(66,624)	(43,033)	(35,003)	(38,997)	(56,946)
	Shareholders’ equity	9,770	10,216	10,508	11,091	11,688	12,017	11,260	11,898	12,788	12,958
Returns, %
Returns, %	ROA	0.82	0.86	1.12	1.06	0.74	0.84	0.76	0.69	1.29	1.01
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	11.51	12.41	15.93	14.70	11.07	13.59	11.93	9.86	17.21	14.01

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
STT State Street Corporation	$46.0B	13.1×	13.4×	+5.36% (above 0%: growing)	+40.48% (above 0%: growing)	+65.74% (above 0%: growing)	66.12%	0.00%	Compare
AMP Ameriprise Financial, Inc.	$44.4B	11.9×	10.7×	+12.91% (above 0%: growing)	+11.40% (above 0%: growing)	+65.06% (above 0%: growing)	100.00%	29.70%	Compare
ARES Ares Management Corporation	$37.7B	51.5×	21.0×	+5.81% (above 0%: growing)	+6.52% (above 0%: growing)	−197.89% (below 0%: shrinking)	100.00%	17.40%	Compare
NTRS Northern Trust Corporation	$30.3B	14.1×	15.2×	+16.99% (above 0%: growing)	+98.60% (above 0%: growing)	−113.28% (below 0%: shrinking)	64.06%	0.00%
RJF Raymond James Financial, Inc.	$30.3B	13.4×	13.4×	+13.53% (above 0%: growing)	+41.67% (above 0%: growing)	−148.58% (below 0%: shrinking)	100.00%	26.55%	Compare
PFG Principal Financial Group, Inc.	$23.3B	15.2×	11.5×	+6.39% (above 0%: growing)	+3.31% (above 0%: growing)	+154.82% (above 0%: growing)	48.38%	12.71%	Compare
TROW T. Rowe Price Group, Inc.	$21.6B	10.1×	11.9×	+10.68% (above 0%: growing)	+28.57% (above 0%: growing)	−3.59% (below 0%: shrinking)	100.00%	28.34%	Compare
TPG TPG Inc.	$16.7B	36.0×	14.3×	+100.04% (above 0%: growing)	n/m	−14.25% (below 0%: shrinking)	100.00%	20.65%	Compare
BEN Franklin Resources Inc	$15.9B	21.1×	18.2×	+14.26% (above 0%: growing)	+106.67% (above 0%: growing)	−55.71% (below 0%: shrinking)	100.00%	9.15%	Compare
Median of peers	$26.8B	14.3×	13.4×	+11.80%	+28.57%	−8.92%	100.00%	19.02%

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Northern Trust Corporation (NTRS) key facts

Concern: Northern Trust Corporation’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, down 9.92% from fiscal 2024.
Northern Trust Corporation (NTRS) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, NTRS traded at $165.16, a market capitalization of $30.3 billion.
Northern Trust Corporation pays an annual dividend of $3.28 per share, a yield of 1.99%, with a payout ratio of 28.2%.
Return on equity was 14.0% and debt-to-equity 0.40.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.