Northern Trust (NTRS) Financials

Northern Trust (NASDAQ:NTRS) financial analysis overview based on last four years of quarterly data:

• Net income has shown a strong growth trend, with Q2 2025 net income reaching $421.3 million, up from $331.8 million in Q2 2023 and $155.7 million in Q4 2022, indicating ongoing profitability improvement.
• Net interest income improved steadily, reaching $610.5 million in Q2 2025 from $511.5 million in Q2 2023, demonstrating good performance in the core banking operations.
• Total revenue increased over the years; for example, total revenue was $1.99 billion in Q2 2025, up from $1.76 billion in Q2 2023 and $1.52 billion in Q4 2022, supporting earnings growth.
• Strong operating cash flow with $1.87 billion generated in Q2 2025, showing solid cash generation capability from core operations.
• Total assets grew to approximately $171.9 billion in Q2 2025 from $156.8 billion in Q2 2024 and $156.7 billion in Q2 2023, indicating balance sheet expansion and possible business growth.
• Total equity increased along with assets, reaching $12.87 billion by Q2 2025, supporting financial stability and potential for shareholder returns.
• Salaries and employee benefits expenses remain well-managed relative to revenue growth, indicating good cost controls over time.
• Provision for credit losses fluctuated but remained relatively moderate, with $16.5 million in Q2 2025, indicating controlled credit risk though it needs monitoring.
• Capital expenditures on property and equipment are sizeable but consistent, reflecting ongoing investment in infrastructure; about $217.5 million spent in Q2 2025.
• Northern Trust shows ongoing repurchases of common stock and dividend payments, with $339.4 million in buybacks and $148.7 million in dividends paid in Q2 2025, which while rewarding shareholders may reduce liquidity.

Summary: Northern Trust has demonstrated consistent earnings and revenue growth over the past four years, supported by expanding assets and solid cash flow from operations. The company maintains a healthy balance sheet with rising equity levels. Expense management appears effective, although ongoing investments and shareholder distributions are substantial cash uses. The provision for credit losses is stable but should be watched given the banking environment. Overall, the company appears financially strong with positive growth trends and shareholder-friendly capital management.