Northern Trust (NTRS) Financials

$107.32 -0.67 (-0.62%)

Closing price 05/20/2025 04:00 PM Eastern

Extended Trading

$107.50 +0.18 (+0.17%)

As of 08:02 AM Eastern

Annual Income Statements for Northern Trust

This table shows Northern Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,989	1,066	1,294	1,504	1,153	1,446	1,510	1,149	1,009	950
Consolidated Net Income / (Loss)	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
Net Income / (Loss) Continuing Operations	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
Total Pre-Tax Income	2,660	1,465	1,766	2,010	1,628	1,944	1,958	1,634	1,517	1,465
Total Revenue	8,290	6,774	6,761	6,465	6,101	6,073	5,960	5,375	4,962	4,703
Net Interest Income / (Expense)	2,177	1,982	1,887	1,383	1,443	1,678	1,623	1,429	1,235	1,070
Total Interest Income	9,762	7,325	1,887	1,407	1,644	2,500	2,321	1,769	1,417	1,224
Investment Securities Interest Income	9,762	7,325	2,878	1,407	1,644	2,500	-	1,769	1,417	1,224
Total Interest Expense	7,585	5,343	0.00	24	200	822	699	340	182	154
Long-Term Debt Interest Expense	7,585	5,343	-	24	200	822	699	340	182	154
Total Non-Interest Income	6,113	4,792	4,874	5,082	4,658	4,395	4,338	3,946	3,727	3,633
Trust Fees by Commissions	4,878	4,497	4,569	140	133	104	98	90	81	3,059
Other Service Charges	1,193	260	231	288	239	190	179	214	304	312
Net Realized & Unrealized Capital Gains on Investments	42	34	75	293	290	250	306	208	233	262
Provision for Credit Losses	-3.00	25	12	-82	125	-15	-15	-28	-26	-43
Total Non-Interest Expense	5,634	5,284	4,983	4,536	4,348	4,144	4,017	3,769	3,471	3,281
Salaries and Employee Benefits	2,889	2,727	2,685	2,011	2,335	2,214	2,164	2,054	1,834	1,729
Net Occupancy & Equipment Expense	1,292	1,178	1,058	945	904	825	783	716	645	628
Other Operating Expenses	1,453	1,379	1,240	1,580	1,110	1,104	1,070	1,000	992	924
Income Tax Expense	628	358	430	465	418	452	401	435	485	491
Preferred Stock Dividends Declared	42	42	42	42	56	46	46	50	23	23
Basic Earnings per Share	$9.80	$5.09	$6.16	$7.16	$5.48	$6.66	$6.68	$4.95	$4.35	$4.03
Weighted Average Basic Shares Outstanding	201.26M	207.25M	208.31M	208.08M	208.32M	214.53M	223.15M	228.26M	227.58M	232.28M
Diluted Earnings per Share	$9.77	$5.08	$6.14	$7.14	$5.46	$6.63	$6.64	$4.92	$4.32	$3.99
Weighted Average Diluted Shares Outstanding	201.87M	207.56M	208.87M	208.90M	209.01M	215.60M	224.49M	229.65M	229.15M	234.22M
Weighted Average Basic & Diluted Shares Outstanding	195.70M	204.84M	208.20M	207.90M	208.31M	209.25M	218.41M	232.20M	232M	235.80M
Cash Dividends to Common per Share	$3.00	$3.00	$2.90	$2.80	$2.80	$2.60	$1.94	$1.60	-	-

This table shows Northern Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	376	451	449	891	199	108	312	327	318	151	379
Consolidated Net Income / (Loss)	392	455	465	896	215	113	328	332	335	156	395
Net Income / (Loss) Continuing Operations	392	455	465	896	215	113	328	332	335	156	395
Total Pre-Tax Income	521	594	601	1,174	291	146	434	441	444	190	525
Total Revenue	1,940	1,960	1,969	2,716	1,647	1,545	1,727	1,757	1,745	1,519	1,755
Net Interest Income / (Expense)	568	564	562	523	528	483	456	512	531	535	513
Total Interest Income	2,141	2,280	2,530	2,507	2,446	2,200	1,935	1,735	1,455	180	799
Investment Securities Interest Income	2,141	2,280	2,530	2,507	2,446	2,200	1,935	1,735	1,455	1,170	799
Total Interest Expense	1,573	1,716	1,968	1,984	1,918	1,717	1,479	1,224	924	-355	286
Total Non-Interest Income	1,372	1,396	1,406	2,193	1,119	1,062	1,270	1,246	1,213	985	1,242
Trust Fees by Commissions	39	4,771	36	34	38	4,395	31	36	35	4,468	32
Other Service Charges	60	-1,074	120	934	1,213	66	76	63	55	56	67
Net Realized & Unrealized Capital Gains on Investments	59	62	54	58	-132	-121	52	50	53	-149	65
Other Non-Interest Income	1,214	-	1,197	1,166	-	-	1,112	1,096	1,064	-	1,079
Provision for Credit Losses	1.00	-11	8.00	8.00	-8.50	11	14	-16	15	5.00	0.50
Total Non-Interest Expense	1,418	1,376	1,359	1,534	1,365	1,389	1,278	1,332	1,286	1,324	1,230
Salaries and Employee Benefits	644	912	584	665	728	969	558	605	595	1,022	553
Net Occupancy & Equipment Expense	334	329	324	332	307	311	291	283	293	295	264
Other Operating Expenses	439	136	452	536	330	109	429	444	397	6.80	413
Income Tax Expense	129	139	136	278	76	33	107	109	109	35	130
Preferred Stock Dividends Declared	16	4.70	16	4.70	16	4.70	16	4.70	16	4.70	16
Basic Earnings per Share	$1.91	$2.26	$2.23	$4.35	$0.96	$0.53	$1.49	$1.56	$1.51	$0.72	$1.80
Weighted Average Basic Shares Outstanding	195.19M	201.26M	199.94M	203.31M	204.63M	207.25M	207.02M	207.64M	208.19M	208.31M	208.40M
Diluted Earnings per Share	$1.90	$2.25	$2.22	$4.34	$0.96	$0.52	$1.49	$1.56	$1.51	$0.71	$1.80
Weighted Average Diluted Shares Outstanding	196.12M	201.87M	200.55M	203.74M	205.13M	207.56M	207.25M	207.82M	208.73M	208.87M	208.89M
Weighted Average Basic & Diluted Shares Outstanding	194.54M	195.70M	198.22M	201.64M	204.59M	204.84M	207.04M	207.00M	208.34M	208.20M	208.42M
Cash Dividends to Common per Share	$0.75	-	$0.75	$0.75	$0.75	-	$0.75	$0.75	$0.75	-	$0.75

This table details how cash moves in and out of Northern Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-114	137	1,597	-1,333	-70	-122	64	-814	-1,087	3,398
Net Cash From Operating Activities	-486	2,626	2,392	1,356	1,897	2,592	1,768	1,720	1,510	1,834
Net Cash From Continuing Operating Activities	-486	2,626	2,392	1,356	1,897	2,592	1,768	1,720	1,510	1,845
Net Income / (Loss) Continuing Operations	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
Consolidated Net Income / (Loss)	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
Provision For Loan Losses	-3.00	25	12	-82	125	-15	-15	-28	-26	-43
Depreciation Expense	717	635	554	516	500	459	461	101	89	90
Amortization Expense	-35	3.00	59	100	89	65	96	426	385	325
Non-Cash Adjustments to Reconcile Net Income	-2.00	101	-166	-8.90	1.20	30	-74	-89	-185	-167
Changes in Operating Assets and Liabilities, net	-3,194	755	598	-714	-28	561	-258	112	215	666
Net Cash From Investing Activities	-2,564	4,784	25,930	-18,603	-29,923	-3,405	4,327	-14,022	-10,192	-6,900
Net Cash From Continuing Investing Activities	-2,564	4,784	25,930	-18,603	-29,923	-3,405	4,327	-14,022	-10,192	-6,900
Purchase of Property, Leasehold Improvements and Equipment	-746	-676	-724	-515	-560	-600	-506	-473	-473	-434
Purchase of Investment Securities	-40,624	-38,562	-16,856	-85,346	-72,524	-31,686	-34,164	-35,140	-21,670	-20,303
Sale and/or Maturity of Investments	38,671	42,484	43,284	68,060	43,383	27,931	30,354	21,505	15,344	14,992
Net Increase in Fed Funds Sold	-25	32	-32	0.00	5.00	129	-113	679	-373	-550
Other Investing Activities, net	160	1,506	258	-801	-227	821	8,756	-593	-3,019	-605
Net Cash From Financing Activities	3,440	-7,183	-26,437	16,074	27,872	616	-5,818	11,253	7,537	8,534
Net Cash From Continuing Financing Activities	3,440	-7,183	-26,437	16,074	27,872	616	-5,818	11,253	7,537	8,534
Net Change in Deposits	6,331	-8,478	-32,997	17,886	32,138	4,264	-6,163	8,524	6,737	8,106
Issuance of Debt	-104	941	5,956	-427	-1,705	498	2,360	1,318	0.00	2,313
Repayment of Debt	0.00	0.00	-500	-779	-509	-1,185	-314	-209	1,067	-231
Repurchase of Common Equity	-938	-348	-35	-268	-300	-1,100	-924	-523	-411	-497
Payment of Dividends	-644	-663	-797	-625	-631	-576	-452	-407	-356	-348
Other Financing Activities, Net	-1,206	1,366	1,936	286	-722	-1,677	-325	2,550	6.70	-808
Effect of Exchange Rate Changes	-504	-90	-287	-160	85	75	-213	235	59	-71
Cash Interest Paid	7,610	5,286	822	31	227	846	670	329	182	162
Cash Income Taxes Paid	269	363	460	371	328	437	494	441	754	390

This table details how cash moves in and out of Northern Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-309	-2,195	305	1,258	517	-164	58	72	172	161	-627
Net Cash From Operating Activities	2,750	-2,635	611	2,990	-1,453	2,803	87	-99	-165	4,152	-896
Net Cash From Continuing Operating Activities	2,750	-2,635	611	2,990	-1,453	2,803	87	-99	-165	4,152	-896
Net Income / (Loss) Continuing Operations	392	455	465	896	215	113	328	332	335	156	395
Consolidated Net Income / (Loss)	392	455	465	896	215	113	328	332	335	156	395
Provision For Loan Losses	1.00	-11	8.00	8.00	-8.50	11	14	-16	15	5.00	0.50
Depreciation Expense	191	183	183	181	170	169	158	153	155	148	141
Amortization Expense	-14	-11	-7.50	-9.40	-7.70	-2.80	1.50	-2.70	7.00	7.70	17
Non-Cash Adjustments to Reconcile Net Income	-138	17	-	-0.10	-19	124	-	-	-23	-146	0.30
Changes in Operating Assets and Liabilities, net	2,318	-3,269	-37	1,915	-1,803	2,389	-414	-566	-653	3,981	-1,449
Net Cash From Investing Activities	-10,285	-2,208	3,487	951	-4,793	-4,863	10,079	-5,351	4,919	4,156	-3,452
Net Cash From Continuing Investing Activities	-10,285	-2,208	3,487	951	-4,793	-4,863	10,079	-5,351	4,919	4,156	-3,452
Purchase of Property, Leasehold Improvements and Equipment	-184	-227	-209	-182	-128	-210	-165	-171	-129	-228	-179
Purchase of Investment Securities	-19,363	-11,162	-5,919	-5,857	-17,686	-15,204	97	-14,223	-9,231	-4,438	-12,674
Sale and/or Maturity of Investments	9,237	8,914	9,765	7,063	12,930	10,537	9,861	8,206	13,879	7,396	10,218
Net Increase in Fed Funds Sold	328	-25	-	-	-	64	-	-	-	-1.90	-20
Other Investing Activities, net	-304	292	-151	-72	91	-50	285	869	400	1,428	-798
Net Cash From Financing Activities	6,824	3,152	-4,011	-2,638	6,936	1,708	-9,962	5,669	-4,598	-8,281	3,904
Net Cash From Continuing Financing Activities	6,824	3,152	-4,011	-2,638	6,936	1,708	-9,962	5,669	-4,598	-8,281	3,904
Net Change in Deposits	7,172	4,218	-3,479	-2,392	7,983	4,611	-2,036	-576	-10,478	-6,880	-2,826
Issuance of Debt	8.20	-104	-209	240	-31	-1,059	-2,788	1,022	3,766	1,395	3,566
Repurchase of Common Equity	-287	-254	-301	-251	-132	-146	-1.10	-99	-101	-0.10	-1.20
Payment of Dividends	-162	-152	-165	-157	-170	-159	-172	-160	-173	-334	-151
Other Financing Activities, Net	94	-307	-106	-79	-715	-2,256	-4,248	5,482	2,388	-2,462	3,738
Effect of Exchange Rate Changes	403	-504	217	-45	-173	188	-145	-148	15	134	-183
Cash Interest Paid	1,524	-	-	-	-	-	-	-	-	-	-
Cash Income Taxes Paid	52	83	80	66	39	151	101	79	31	165	131

This table presents Northern Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	155,508	150,783	155,037	183,890	170,004	136,828	132,213	138,591	123,927	116,750
Cash and Due from Banks	4,677	4,792	4,654	3,057	4,390	4,459	4,582	4,518	5,332	6,419
Federal Funds Sold	25	0.00	32	0.00	-	5.00	1,165	1,324	1,974	1,614
Interest Bearing Deposits at Other Banks	1,945	1,939	1,941	1,949	4,373	4,877	4,264	5,612	4,801	6,872
Trading Account Securities	51,724	50,096	52,902	62,262	61,410	51,869	51,243	46,792	44,501	37,567
Loans and Leases, Net of Allowance	43,391	47,617	42,893	40,481	33,760	31,410	32,490	32,592	0.00	0.00
Loans and Leases	43,391	47,617	42,893	40,481	33,760	31,410	32,490	32,592	-	-
Premises and Equipment, Net	490	502	501	489	515	483	428	465	467	447
Goodwill	695	702	691	706	707	697	669	606	519	526
Other Assets	52,562	45,135	51,423	74,946	64,850	43,029	37,371	46,682	66,333	63,304
Total Liabilities & Shareholders' Equity	155,508	150,783	155,037	183,890	170,004	136,828	132,213	138,591	123,927	116,750
Total Liabilities	142,720	138,885	143,777	171,873	158,316	125,737	121,704	128,374	114,157	108,044
Non-Interest Bearing Deposits	24,354	22,831	25,340	48,316	43,111	26,292	22,728	28,591	30,163	30,155
Interest Bearing Deposits	98,129	93,333	98,592	111,613	100,767	82,829	81,769	83,800	71,489	66,714
Federal Funds Purchased and Securities Sold	2,160	3,045	1,897	0.20	260	553	2,594	2,286	205	352
Short-Term Debt	6,983	785	567	4,116	40	490	8,070	6,885	474	547
Long-Term Debt	6,851	13,406	12,383	3,651	8,323	10,466	3,124	2,947	7,937	6,924
Other Long-Term Liabilities	4,244	5,485	4,998	4,178	5,814	5,108	3,420	3,866	3,889	3,353
Total Equity & Noncontrolling Interests	12,788	11,898	11,260	12,017	11,688	11,091	10,508	10,216	9,770	8,706
Total Preferred & Common Equity	12,788	11,898	11,260	12,017	11,688	11,091	10,508	10,216	9,770	8,706
Preferred Stock	885	885	885	885	885	1,273	-	-	882	389
Total Common Equity	11,904	11,013	10,375	11,132	10,803	9,818	10,508	10,216	8,888	8,317
Common Stock	1,434	1,418	1,392	1,348	1,372	1,422	1,477	1,456	1,444	1,481
Retained Earnings	15,615	14,234	13,799	13,117	12,208	11,657	10,777	9,685	8,908	8,243
Treasury Stock	-4,331	-3,501	-3,247	-3,298	-3,205	-3,066	-2,174	-1,392	-1,094	-1,034
Accumulated Other Comprehensive Income / (Loss)	-814	-1,138	-1,569	-36	428	-195	-454	-414	-370	-373

This table presents Northern Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	165,071	155,508	155,754	156,797	156,111	150,783	146,331	156,753	151,108	155,037	159,840
Cash and Due from Banks	4,369	4,677	6,872	6,567	5,309	4,792	4,956	4,898	4,826	4,654	4,493
Federal Funds Sold	124	25	-	-	-	0.00	0.00	0.00	0.00	32	30
Interest Bearing Deposits at Other Banks	1,645	1,945	1,607	1,381	1,372	1,939	2,123	1,479	1,588	1,941	1,542
Trading Account Securities	51,339	51,724	52,002	50,520	49,637	50,096	24,727	51,500	50,401	52,902	53,395
Loans and Leases, Net of Allowance	40,833	43,391	41,950	42,135	47,343	47,617	68,497	43,547	0.00	42,893	43,992
Loans and Leases	40,833	43,391	41,950	42,135	47,343	47,617	68,497	43,547	-	42,893	43,992
Premises and Equipment, Net	477	490	480	481	488	502	465	474	482	501	469
Goodwill	701	695	708	697	698	702	693	699	695	691	679
Other Assets	65,583	52,562	52,135	55,016	51,265	45,135	44,871	54,157	93,116	51,423	55,239
Total Liabilities & Shareholders' Equity	165,071	155,508	155,754	156,797	156,111	150,783	146,331	156,753	151,108	155,037	159,840
Total Liabilities	152,193	142,720	143,005	144,141	144,009	138,885	134,483	145,117	139,520	143,777	148,809
Non-Interest Bearing Deposits	21,905	24,354	22,175	20,926	25,327	22,831	20,938	21,326	23,414	25,340	27,858
Interest Bearing Deposits	109,120	98,129	99,009	102,065	98,615	93,333	89,228	91,877	90,314	98,592	100,689
Federal Funds Purchased and Securities Sold	2,378	2,160	2,762	2,406	2,601	3,045	5,539	9,345	4,487	1,897	4,365
Short-Term Debt	6,870	6,983	171	629	7,038	785	546	13,370	363	567	7,715
Long-Term Debt	6,895	6,851	13,801	13,641	6,813	13,406	13,621	4,791	16,205	12,383	3,776
Other Long-Term Liabilities	5,024	4,244	5,088	4,474	3,617	5,485	4,612	4,408	4,737	4,998	4,406
Total Equity & Noncontrolling Interests	12,879	12,788	12,749	12,656	12,102	11,898	11,847	11,636	11,588	11,260	11,030
Total Preferred & Common Equity	12,879	12,788	12,749	12,656	12,102	11,898	11,847	11,636	11,588	11,260	11,030
Preferred Stock	885	885	885	885	885	885	885	885	885	885	885
Total Common Equity	11,994	11,904	11,864	11,771	11,217	11,013	10,962	10,751	10,703	10,375	10,146
Common Stock	1,406	1,434	1,417	1,406	1,392	1,418	1,402	1,389	1,373	1,392	1,372
Retained Earnings	15,842	15,615	15,313	15,016	14,279	14,234	14,282	14,128	13,958	13,799	13,806
Treasury Stock	-4,515	-4,331	-4,086	-3,786	-3,537	-3,501	-3,358	-3,360	-3,262	-3,247	-3,248
Accumulated Other Comprehensive Income / (Loss)	-740	-814	-780	-865	-918	-1,138	-1,363	-1,406	-1,366	-1,569	-1,785

This table displays calculated financial ratios and metrics derived from Northern Trust's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.39%	0.18%	4.59%	5.96%	0.46%	1.89%	10.88%	8.33%	5.51%	8.58%
EBITDA Growth	58.92%	-11.63%	-9.38%	18.43%	-10.16%	-1.87%	16.38%	8.50%	5.88%	40.87%
EBIT Growth	81.56%	-17.07%	-12.13%	23.50%	-16.28%	-0.70%	19.82%	7.70%	3.56%	23.09%
NOPAT Growth	83.43%	-17.12%	-13.54%	27.78%	-18.96%	-4.12%	29.81%	16.13%	6.03%	19.96%
Net Income Growth	83.43%	-17.12%	-13.54%	27.78%	-18.96%	-4.12%	29.81%	16.13%	6.03%	19.96%
EPS Growth	92.32%	-17.26%	-14.01%	30.77%	-17.65%	-0.15%	34.96%	13.89%	8.27%	20.18%
Operating Cash Flow Growth	-118.51%	9.75%	76.43%	-28.51%	-26.82%	46.65%	2.74%	13.93%	-17.68%	95.98%
Free Cash Flow Firm Growth	293.98%	75.02%	-270.43%	-43.43%	179.24%	1,277.03%	85.40%	31.30%	9.23%	-238.36%
Invested Capital Growth	2.05%	7.76%	22.37%	-1.33%	-9.05%	1.59%	8.25%	10.27%	12.39%	14.47%
Revenue Q/Q Growth	5.26%	0.39%	-2.14%	2.30%	-0.42%	0.73%	17.50%	-10.42%	1.74%	0.57%
EBITDA Q/Q Growth	15.75%	-1.61%	-11.87%	5.63%	-3.47%	-0.38%	52.13%	-26.20%	3.12%	15.41%
EBIT Q/Q Growth	20.28%	-2.95%	-15.31%	7.27%	-5.95%	-0.49%	78.10%	-31.81%	2.65%	0.32%
NOPAT Q/Q Growth	20.27%	-3.70%	-15.80%	11.99%	-9.72%	-2.53%	3.55%	8.13%	2.71%	-0.48%
Net Income Q/Q Growth	20.27%	-3.70%	-15.80%	11.99%	-9.72%	-2.53%	3.55%	8.13%	2.71%	-0.48%
EPS Q/Q Growth	21.52%	-3.61%	-16.46%	12.44%	-9.60%	-1.34%	4.57%	8.85%	2.86%	0.25%
Operating Cash Flow Q/Q Growth	-109.81%	-33.94%	747.47%	71.56%	-7.78%	83.22%	-18.14%	0.71%	-25.33%	1,153.86%
Free Cash Flow Firm Q/Q Growth	52.58%	67.05%	-466.21%	-12.59%	113.48%	807.19%	-155.49%	66.79%	-309.01%	-7.18%
Invested Capital Q/Q Growth	-0.37%	0.29%	7.50%	-9.16%	-10.77%	-2.59%	2.23%	0.73%	8.34%	-0.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	40.30%	31.04%	35.19%	40.61%	36.34%	40.63%	42.19%	40.20%	40.13%	39.99%
EBIT Margin	32.08%	21.63%	26.12%	31.09%	26.68%	32.01%	32.85%	30.40%	30.58%	31.15%
Profit (Net Income) Margin	24.50%	16.35%	19.76%	23.90%	19.82%	24.57%	26.11%	22.31%	20.81%	20.71%
Tax Burden Percent	76.37%	75.59%	75.64%	76.88%	74.30%	76.76%	79.50%	73.38%	68.06%	66.47%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	23.63%	24.41%	24.36%	23.12%	25.70%	23.24%	20.50%	26.62%	31.94%	33.53%
Return on Invested Capital (ROIC)	7.71%	4.40%	6.07%	7.76%	5.75%	6.82%	7.46%	6.27%	6.01%	6.43%
ROIC Less NNEP Spread (ROIC-NNEP)	7.71%	4.40%	6.07%	7.76%	5.75%	6.82%	7.46%	6.27%	6.01%	6.43%
Return on Net Nonoperating Assets (RNNOA)	8.75%	5.16%	5.41%	5.28%	4.87%	7.00%	7.56%	5.73%	5.17%	5.19%
Return on Equity (ROE)	16.46%	9.56%	11.48%	13.04%	10.62%	13.82%	15.02%	12.00%	11.18%	11.62%
Cash Return on Invested Capital (CROIC)	5.68%	-3.07%	-14.05%	9.10%	15.22%	5.25%	-0.47%	-3.49%	-5.66%	-7.07%
Operating Return on Assets (OROA)	1.74%	0.96%	1.04%	1.14%	1.06%	1.45%	1.45%	1.24%	1.26%	1.29%
Return on Assets (ROA)	1.33%	0.72%	0.79%	0.87%	0.79%	1.11%	1.15%	0.91%	0.86%	0.86%
Return on Common Equity (ROCE)	15.28%	8.83%	10.61%	12.06%	9.61%	13.00%	15.02%	11.47%	10.41%	11.35%
Return on Equity Simple (ROE_SIMPLE)	15.88%	9.31%	11.87%	12.86%	10.35%	13.45%	14.81%	11.74%	10.57%	11.19%
Net Operating Profit after Tax (NOPAT)	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
NOPAT Margin	24.50%	16.35%	19.76%	23.90%	19.82%	24.57%	26.11%	22.31%	20.81%	20.71%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	50.43%	57.65%	55.36%	45.73%	53.08%	50.04%	49.44%	51.52%	49.97%	50.12%
Operating Expenses to Revenue	67.96%	78.01%	73.70%	70.17%	71.27%	68.23%	67.40%	70.12%	69.95%	69.76%
Earnings before Interest and Taxes (EBIT)	2,660	1,465	1,766	2,010	1,628	1,944	1,958	1,634	1,517	1,465
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,341	2,102	2,379	2,625	2,217	2,468	2,515	2,161	1,991	1,881
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.79	1.54	1.66	2.09	1.64	2.02	1.51	1.87	1.88	1.62
Price to Tangible Book Value (P/TBV)	1.91	1.65	1.77	2.23	1.75	2.18	1.61	1.99	1.99	1.73
Price to Revenue (P/Rev)	2.58	2.51	2.54	3.59	2.90	3.27	2.67	3.56	3.36	2.87
Price to Earnings (P/E)	10.74	15.96	13.28	15.46	15.34	13.73	10.52	16.64	16.53	14.21
Dividend Yield	2.93%	3.68%	3.52%	2.50%	3.29%	2.77%	2.70%	1.90%	2.01%	2.41%
Earnings Yield	9.31%	6.27%	7.53%	6.47%	6.52%	7.28%	9.50%	6.01%	6.05%	7.04%
Enterprise Value to Invested Capital (EV/IC)	1.11	0.97	1.01	1.36	0.91	1.03	0.79	0.87	0.76	0.40
Enterprise Value to Revenue (EV/Rev)	3.55	3.74	3.61	4.16	2.98	3.74	2.86	3.26	2.79	1.37
Enterprise Value to EBITDA (EV/EBITDA)	8.81	12.06	10.25	10.24	8.20	9.22	6.79	8.10	6.96	3.43
Enterprise Value to EBIT (EV/EBIT)	11.07	17.31	13.81	13.37	11.17	11.70	8.72	10.71	9.14	4.41
Enterprise Value to NOPAT (EV/NOPAT)	14.49	22.89	18.25	17.40	15.03	15.24	10.97	14.60	13.43	6.63
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	9.65	10.19	19.83	9.58	8.77	9.66	10.18	9.18	3.52
Enterprise Value to Free Cash Flow (EV/FCFF)	19.66	0.00	0.00	14.83	5.67	19.82	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.08	1.19	1.15	0.65	0.72	0.99	1.07	0.96	0.86	0.86
Long-Term Debt to Equity	0.54	1.13	1.10	0.30	0.71	0.94	0.30	0.29	0.81	0.80
Financial Leverage	1.14	1.17	0.89	0.68	0.85	1.03	1.01	0.91	0.86	0.81
Leverage Ratio	12.41	13.21	14.56	14.93	13.47	12.46	13.07	13.13	13.03	13.52
Compound Leverage Factor	12.41	13.21	14.56	14.93	13.47	12.46	13.07	13.13	13.03	13.52
Debt to Total Capital	51.96%	54.39%	53.49%	39.26%	41.71%	49.69%	51.58%	49.04%	46.26%	46.18%
Short-Term Debt to Total Capital	26.23%	3.01%	2.34%	20.80%	0.20%	2.22%	37.19%	34.34%	2.61%	3.38%
Long-Term Debt to Total Capital	25.73%	51.39%	51.15%	18.46%	41.51%	47.47%	14.39%	14.70%	43.66%	42.80%
Preferred Equity to Total Capital	3.32%	3.39%	3.66%	4.47%	4.41%	5.78%	0.00%	0.00%	4.85%	2.40%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.71%	42.21%	42.85%	56.27%	53.88%	44.53%	48.42%	50.96%	48.89%	51.42%
Debt to EBITDA	4.14	6.75	5.44	2.96	3.77	4.44	4.45	4.55	4.22	3.97
Net Debt to EBITDA	2.15	3.55	2.66	1.05	-0.18	0.65	0.47	-0.75	-1.86	-3.95
Long-Term Debt to EBITDA	2.05	6.38	5.20	1.39	3.75	4.24	1.24	1.36	3.99	3.68
Debt to NOPAT	6.81	12.82	9.69	5.03	6.92	7.34	7.19	8.20	8.15	7.67
Net Debt to NOPAT	3.54	6.74	4.73	1.79	-0.33	1.08	0.76	-1.35	-3.58	-7.63
Long-Term Debt to NOPAT	3.37	12.11	9.27	2.36	6.88	7.01	2.01	2.46	7.69	7.11
Noncontrolling Interest Sharing Ratio	7.17%	7.64%	7.60%	7.47%	9.47%	5.90%	0.00%	4.41%	6.88%	2.32%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,497	-772	-3,090	1,813	3,205	1,148	-98	-668	-972	-1,071
Operating Cash Flow to CapEx	-65.19%	388.52%	330.67%	263.25%	338.47%	432.14%	349.31%	363.87%	318.97%	423.16%
Free Cash Flow to Firm to Interest Expense	0.20	-0.14	0.00	76.17	16.00	1.40	-0.14	-1.96	-5.34	-6.96
Operating Cash Flow to Interest Expense	-0.06	0.49	0.00	56.97	9.47	3.15	2.53	5.06	8.30	11.92
Operating Cash Flow Less CapEx to Interest Expense	-0.16	0.36	0.00	35.33	6.67	2.42	1.81	3.67	5.70	9.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.04	0.04	0.04	0.04	0.05	0.04	0.04	0.04	0.04
Fixed Asset Turnover	16.71	13.51	13.67	12.88	12.22	13.33	13.35	11.54	10.86	10.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	26,622	26,089	24,209	19,784	20,051	22,047	21,702	20,048	18,181	16,176
Invested Capital Turnover	0.31	0.27	0.31	0.32	0.29	0.28	0.29	0.28	0.29	0.31
Increase / (Decrease) in Invested Capital	534	1,879	4,426	-268	-1,995	345	1,654	1,867	2,005	2,045
Enterprise Value (EV)	29,435	25,350	24,388	26,884	18,176	22,743	17,070	17,505	13,865	6,460
Market Capitalization	21,363	17,005	17,181	23,238	17,690	19,855	15,887	19,128	16,679	13,506
Book Value per Share	$60.05	$53.19	$49.78	$53.61	$51.91	$46.34	$47.46	$44.92	$39.25	$35.97
Tangible Book Value per Share	$56.55	$49.80	$46.46	$50.21	$48.51	$43.05	$44.44	$42.26	$36.96	$33.70
Total Capital	26,622	26,089	24,209	19,784	20,051	22,047	21,702	20,048	18,181	16,176
Total Debt	13,834	14,191	12,950	7,767	8,363	10,956	11,194	9,832	8,411	7,470
Total Long-Term Debt	6,851	13,406	12,383	3,651	8,323	10,466	3,124	2,947	7,937	6,924
Net Debt	7,187	7,460	6,323	2,761	-399	1,614	1,183	-1,622	-3,696	-7,435
Capital Expenditures (CapEx)	746	676	724	515	560	600	506	473	473	434
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	13,834	14,191	12,950	7,767	8,363	10,956	11,194	9,832	8,411	7,470
Total Depreciation and Amortization (D&A)	682	638	613	615	589	524	557	527	474	416
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$9.80	$5.09	$6.16	$7.16	$5.48	$6.66	$6.68	$4.95	$4.35	$4.03
Adjusted Weighted Average Basic Shares Outstanding	201.26M	207.25M	208.31M	208.08M	208.32M	214.53M	223.15M	228.26M	227.58M	232.28M
Adjusted Diluted Earnings per Share	$9.77	$5.08	$6.14	$7.14	$5.46	$6.63	$6.64	$4.92	$4.32	$3.99
Adjusted Weighted Average Diluted Shares Outstanding	201.87M	207.56M	208.87M	208.90M	209.01M	215.60M	224.49M	229.65M	229.15M	234.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$6.66	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	195.70M	204.84M	208.20M	207.90M	208.31M	209.25M	218.41M	226.33M	228.79M	228.98M
Normalized Net Operating Profit after Tax (NOPAT)	2,031	1,107	1,336	1,545	1,209	1,492	1,556	1,199	1,033	974
Normalized NOPAT Margin	24.50%	16.35%	19.76%	23.90%	19.82%	24.57%	26.11%	22.31%	20.81%	20.71%
Pre Tax Income Margin	32.08%	21.63%	26.12%	31.09%	26.68%	32.01%	32.85%	30.40%	30.58%	31.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.35	0.27	0.00	84.46	8.13	2.37	2.80	4.80	8.34	9.52
NOPAT to Interest Expense	0.27	0.21	0.00	64.93	6.04	1.82	2.23	3.52	5.67	6.33
EBIT Less CapEx to Interest Expense	0.25	0.15	0.00	62.82	5.33	1.64	2.08	3.41	5.73	6.70
NOPAT Less CapEx to Interest Expense	0.17	0.08	0.00	43.29	3.24	1.09	1.50	2.13	3.07	3.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.71%	59.90%	59.63%	40.45%	52.14%	38.61%	29.03%	33.91%	34.52%	35.78%
Augmented Payout Ratio	77.88%	91.29%	62.28%	57.77%	76.93%	112.34%	88.42%	77.54%	74.33%	86.80%

This table displays calculated financial ratios and metrics derived from Northern Trust's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.80%	26.81%	14.02%	54.54%	-5.61%	1.73%	-1.61%	-0.66%	1.51%	-8.88%	7.41%
EBITDA Growth	54.06%	145.71%	30.91%	127.45%	-25.20%	-9.90%	-13.07%	-13.93%	-8.67%	-48.07%	1.52%
EBIT Growth	79.42%	307.54%	38.41%	166.30%	-34.55%	-23.42%	-17.20%	-18.48%	-13.08%	-62.64%	1.24%
NOPAT Growth	82.58%	302.65%	41.82%	170.07%	-35.83%	-27.36%	-16.97%	-16.25%	-14.05%	-61.69%	-0.23%
Net Income Growth	82.58%	302.65%	41.82%	170.07%	-35.83%	-27.36%	-16.97%	-16.25%	-14.05%	-61.69%	-0.23%
EPS Growth	97.92%	332.69%	48.99%	178.21%	-36.42%	-26.76%	-17.22%	-16.13%	-14.69%	-63.02%	0.00%
Operating Cash Flow Growth	289.30%	-193.99%	604.84%	3,108.35%	-780.90%	-32.49%	109.68%	93.83%	-122.08%	103.34%	-285.91%
Free Cash Flow Firm Growth	-112.39%	95.56%	92.33%	138.91%	126.65%	58.64%	-808.87%	-519.77%	-426.10%	-733.53%	-131.95%
Invested Capital Growth	2.67%	2.05%	2.72%	-9.64%	-7.83%	7.76%	15.51%	50.61%	50.20%	22.37%	3.41%
Revenue Q/Q Growth	-1.00%	-0.45%	-27.51%	64.90%	6.57%	-10.50%	-1.74%	0.72%	14.85%	-13.44%	-0.79%
EBITDA Q/Q Growth	-8.92%	-1.30%	-42.24%	196.71%	45.26%	-47.41%	0.36%	-2.43%	74.96%	-49.26%	-0.64%
EBIT Q/Q Growth	-12.25%	-1.15%	-48.78%	303.85%	99.31%	-66.43%	-1.45%	-0.74%	133.19%	-63.70%	-2.98%
NOPAT Q/Q Growth	-13.92%	-2.04%	-48.12%	317.37%	89.83%	-65.50%	-1.21%	-0.84%	114.90%	-60.56%	-0.35%
Net Income Q/Q Growth	-13.92%	-2.04%	-48.12%	317.37%	89.83%	-65.50%	-1.21%	-0.84%	114.90%	-60.56%	-0.35%
EPS Q/Q Growth	-15.56%	1.35%	-48.85%	352.08%	84.62%	-65.10%	-4.49%	3.31%	112.68%	-60.56%	-3.23%
Operating Cash Flow Q/Q Growth	204.36%	-531.16%	-79.56%	305.86%	-151.82%	3,133.22%	187.22%	39.72%	-103.97%	563.55%	44.39%
Free Cash Flow Firm Q/Q Growth	-282.27%	67.68%	-106.44%	55.75%	236.95%	44.19%	67.31%	-6.66%	-112.56%	-1,126.31%	-115.10%
Invested Capital Q/Q Growth	0.08%	-0.37%	-0.76%	3.75%	-0.52%	0.29%	-12.70%	5.83%	16.30%	7.50%	13.84%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	35.99%	39.12%	39.46%	49.52%	27.52%	20.19%	34.36%	33.65%	34.73%	22.80%	38.89%
EBIT Margin	26.88%	30.32%	30.54%	43.22%	17.65%	9.44%	25.15%	25.08%	25.45%	12.53%	29.89%
Profit (Net Income) Margin	20.21%	23.24%	23.62%	33.00%	13.04%	7.32%	18.99%	18.88%	19.18%	10.25%	22.50%
Tax Burden Percent	75.18%	76.64%	77.34%	76.35%	73.88%	77.57%	75.48%	75.29%	75.36%	81.78%	75.27%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	24.82%	23.36%	22.66%	23.65%	26.12%	22.43%	24.52%	24.71%	24.64%	18.22%	24.73%
Return on Invested Capital (ROIC)	6.60%	7.31%	7.05%	8.88%	3.22%	1.97%	5.28%	5.16%	5.55%	3.15%	7.02%
ROIC Less NNEP Spread (ROIC-NNEP)	6.60%	7.31%	7.05%	8.88%	3.22%	1.97%	5.28%	5.16%	5.55%	3.15%	7.02%
Return on Net Nonoperating Assets (RNNOA)	7.29%	8.30%	8.07%	11.86%	4.13%	2.31%	5.92%	6.11%	5.77%	2.80%	6.54%
Return on Equity (ROE)	13.89%	15.61%	15.13%	20.74%	7.35%	4.28%	11.20%	11.27%	11.32%	5.95%	13.56%
Cash Return on Invested Capital (CROIC)	5.77%	5.68%	3.72%	15.59%	11.80%	-3.07%	-9.65%	-35.48%	-34.67%	-14.05%	3.81%
Operating Return on Assets (OROA)	1.44%	1.64%	1.59%	2.10%	0.77%	0.42%	1.11%	1.08%	1.07%	0.50%	1.26%
Return on Assets (ROA)	1.08%	1.26%	1.23%	1.61%	0.57%	0.32%	0.84%	0.81%	0.80%	0.41%	0.95%
Return on Common Equity (ROCE)	12.90%	14.49%	14.04%	19.23%	6.80%	3.95%	10.33%	10.39%	10.88%	5.50%	12.51%
Return on Equity Simple (ROE_SIMPLE)	17.15%	0.00%	13.25%	12.26%	8.16%	0.00%	9.71%	10.46%	11.06%	0.00%	14.38%
Net Operating Profit after Tax (NOPAT)	392	455	465	896	215	113	328	332	335	156	395
NOPAT Margin	20.21%	23.24%	23.62%	33.00%	13.04%	7.32%	18.99%	18.88%	19.18%	10.25%	22.50%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	50.45%	63.30%	46.12%	36.73%	62.85%	82.81%	49.19%	50.52%	50.91%	86.69%	46.56%
Operating Expenses to Revenue	73.07%	70.21%	69.06%	56.49%	82.87%	89.85%	74.03%	75.80%	73.69%	87.14%	70.08%
Earnings before Interest and Taxes (EBIT)	521	594	601	1,174	291	146	434	441	444	190	525
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	698	767	777	1,345	453	312	593	591	606	346	683
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.71	1.79	1.58	1.49	1.65	1.54	1.27	1.38	1.65	1.66	1.68
Price to Tangible Book Value (P/TBV)	1.82	1.91	1.68	1.58	1.76	1.65	1.36	1.48	1.77	1.77	1.80
Price to Revenue (P/Rev)	2.40	2.58	2.38	2.29	2.78	2.51	2.07	2.20	2.60	2.54	2.47
Price to Earnings (P/E)	9.49	10.74	11.39	11.59	19.60	15.96	12.60	12.66	14.26	13.28	11.03
Dividend Yield	3.04%	2.93%	3.33%	3.57%	3.37%	3.68%	4.48%	4.20%	3.48%	3.52%	3.49%
Earnings Yield	10.54%	9.31%	8.78%	8.63%	5.10%	6.27%	7.93%	7.90%	7.01%	7.53%	9.07%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.11	0.94	0.92	1.02	0.97	0.84	0.92	1.02	1.01	1.04
Enterprise Value to Revenue (EV/Rev)	3.39	3.55	3.19	3.24	3.98	3.74	3.25	4.07	4.23	3.61	3.38
Enterprise Value to EBITDA (EV/EBITDA)	8.11	8.81	8.71	9.14	13.64	12.06	10.27	12.38	12.37	10.25	8.65
Enterprise Value to EBIT (EV/EBIT)	10.06	11.07	11.37	12.09	20.27	17.31	14.54	17.22	16.90	13.81	11.19
Enterprise Value to NOPAT (EV/NOPAT)	13.16	14.49	14.89	15.92	26.93	22.89	19.08	22.64	22.41	18.25	14.71
Enterprise Value to Operating Cash Flow (EV/OCF)	7.82	0.00	5.08	5.58	19.87	9.65	5.52	9.21	19.39	10.19	82.69
Enterprise Value to Free Cash Flow (EV/FCFF)	19.17	19.66	25.62	5.59	8.33	0.00	0.00	0.00	0.00	0.00	27.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.07	1.08	1.10	1.13	1.14	1.19	1.20	1.56	1.43	1.15	1.04
Long-Term Debt to Equity	0.54	0.54	1.08	1.08	0.56	1.13	1.15	0.41	1.40	1.10	0.34
Financial Leverage	1.11	1.14	1.14	1.34	1.28	1.17	1.12	1.18	1.04	0.89	0.93
Leverage Ratio	12.86	12.41	12.28	12.91	12.97	13.21	13.38	13.85	14.07	14.56	14.35
Compound Leverage Factor	12.86	12.41	12.28	12.91	12.97	13.21	13.38	13.85	14.07	14.56	14.35
Debt to Total Capital	51.66%	51.96%	52.29%	53.00%	53.37%	54.39%	54.46%	60.95%	58.84%	53.49%	51.02%
Short-Term Debt to Total Capital	25.79%	26.23%	0.64%	2.34%	27.12%	3.01%	2.10%	44.87%	1.29%	2.34%	34.26%
Long-Term Debt to Total Capital	25.88%	25.73%	51.65%	50.66%	26.25%	51.39%	52.36%	16.08%	57.56%	51.15%	16.77%
Preferred Equity to Total Capital	3.32%	3.32%	3.31%	3.29%	3.41%	3.39%	3.40%	2.97%	3.14%	3.66%	3.93%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.01%	44.71%	44.40%	43.72%	43.22%	42.21%	42.14%	36.08%	38.01%	42.85%	45.05%
Debt to EBITDA	3.84	4.14	4.84	5.28	7.10	6.75	6.63	8.16	7.14	5.44	4.26
Net Debt to EBITDA	2.13	2.15	1.90	2.34	3.68	3.55	3.32	5.29	4.37	2.66	2.01
Long-Term Debt to EBITDA	1.92	2.05	4.78	5.05	3.49	6.38	6.37	2.15	6.98	5.20	1.40
Debt to NOPAT	6.23	6.81	8.27	9.20	14.03	12.82	12.32	14.92	12.93	9.69	7.24
Net Debt to NOPAT	3.45	3.54	3.25	4.07	7.26	6.74	6.16	9.68	7.92	4.73	3.42
Long-Term Debt to NOPAT	3.12	3.37	8.17	8.79	6.90	12.11	11.84	3.94	12.65	9.27	2.38
Noncontrolling Interest Sharing Ratio	7.08%	7.17%	7.20%	7.29%	7.47%	7.64%	7.74%	7.79%	3.85%	7.60%	7.72%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-300	-78	-243	3,767	2,419	-1,766	-3,165	-9,681	-9,076	-4,270	-348
Operating Cash Flow to CapEx	1,498.53%	-1,163.27%	292.53%	1,640.32%	-1,136.62%	1,332.95%	52.55%	-57.99%	-127.73%	1,824.25%	-501.23%
Free Cash Flow to Firm to Interest Expense	-0.19	-0.05	-0.12	1.90	1.26	-1.03	-2.14	-7.91	-9.82	0.00	-1.22
Operating Cash Flow to Interest Expense	1.75	-1.54	0.31	1.51	-0.76	1.63	0.06	-0.08	-0.18	0.00	-3.13
Operating Cash Flow Less CapEx to Interest Expense	1.63	-1.67	0.20	1.42	-0.82	1.51	-0.05	-0.22	-0.32	0.00	-3.75
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	17.78	16.71	16.66	15.99	13.77	13.51	14.44	14.26	14.03	13.67	14.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	26,644	26,622	26,721	26,926	25,952	26,089	26,014	29,797	28,156	24,209	22,521
Invested Capital Turnover	0.33	0.31	0.30	0.27	0.25	0.27	0.28	0.27	0.29	0.31	0.31
Increase / (Decrease) in Invested Capital	692	534	708	-2,871	-2,204	1,879	3,493	10,013	9,411	4,426	743
Enterprise Value (EV)	29,072	29,435	25,142	24,710	26,587	25,350	21,940	27,551	28,714	24,388	23,343
Market Capitalization	20,560	21,363	18,764	17,503	18,532	17,005	13,967	14,882	17,675	17,181	17,033
Book Value per Share	$61.29	$60.05	$58.84	$57.53	$54.82	$53.19	$52.96	$51.60	$51.41	$49.78	$48.69
Tangible Book Value per Share	$57.71	$56.55	$55.33	$54.12	$51.41	$49.80	$49.61	$48.25	$48.07	$46.46	$45.43
Total Capital	26,644	26,622	26,721	26,926	25,952	26,089	26,014	29,797	28,156	24,209	22,521
Total Debt	13,765	13,834	13,972	14,270	13,850	14,191	14,166	18,161	16,568	12,950	11,491
Total Long-Term Debt	6,895	6,851	13,801	13,641	6,813	13,406	13,621	4,791	16,205	12,383	3,776
Net Debt	7,627	7,187	5,494	6,322	7,169	7,460	7,088	11,784	10,154	6,323	5,426
Capital Expenditures (CapEx)	184	227	209	182	128	210	165	171	129	228	179
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	13,765	13,834	13,972	14,270	13,850	14,191	14,166	18,161	16,568	12,950	11,491
Total Depreciation and Amortization (D&A)	177	172	176	171	163	166	159	151	162	156	158
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.91	$2.26	$2.23	$4.35	$0.96	$0.53	$1.49	$1.56	$1.51	$0.72	$1.80
Adjusted Weighted Average Basic Shares Outstanding	195.19M	201.26M	199.94M	203.31M	204.63M	207.25M	207.02M	207.64M	208.19M	208.31M	208.40M
Adjusted Diluted Earnings per Share	$1.90	$2.25	$2.22	$4.34	$0.96	$0.52	$1.49	$1.56	$1.51	$0.71	$1.80
Adjusted Weighted Average Diluted Shares Outstanding	196.12M	201.87M	200.55M	203.74M	205.13M	207.56M	207.25M	207.82M	208.73M	208.87M	208.89M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	194.54M	195.70M	198.22M	201.64M	204.59M	204.84M	207.04M	207.00M	208.34M	208.20M	208.42M
Normalized Net Operating Profit after Tax (NOPAT)	392	455	465	896	215	113	328	332	335	156	395
Normalized NOPAT Margin	20.21%	23.24%	23.62%	33.00%	13.04%	7.32%	18.99%	18.88%	19.18%	10.25%	22.50%
Pre Tax Income Margin	26.88%	30.32%	30.54%	43.22%	17.65%	9.44%	25.15%	25.08%	25.45%	12.53%	29.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.33	0.35	0.31	0.59	0.15	0.08	0.29	0.36	0.48	0.00	1.83
NOPAT to Interest Expense	0.25	0.27	0.24	0.45	0.11	0.07	0.22	0.27	0.36	0.00	1.38
EBIT Less CapEx to Interest Expense	0.21	0.21	0.20	0.50	0.08	-0.04	0.18	0.22	0.34	0.00	1.21
NOPAT Less CapEx to Interest Expense	0.13	0.13	0.13	0.36	0.05	-0.06	0.11	0.13	0.22	0.00	0.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.83%	31.71%	38.53%	42.33%	66.88%	59.90%	72.88%	67.15%	63.94%	59.63%	39.38%
Augmented Payout Ratio	78.32%	77.88%	87.70%	76.50%	105.23%	91.29%	90.39%	83.70%	71.93%	62.28%	41.72%

Frequently Asked Questions About Northern Trust's Financials

When does Northern Trust's financial year end?

According to the most recent income statement we have on file, Northern Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Northern Trust's net income changed over the last 9 years?

Northern Trust's net income appears to be on an upward trend, with a most recent value of $2.03 billion in 2024, rising from $973.80 million in 2015. The previous period was $1.11 billion in 2023. Find out what analysts predict for Northern Trust in the coming months.

How has Northern Trust revenue changed over the last 9 years?

Over the last 9 years, Northern Trust's total revenue changed from $4.70 billion in 2015 to $8.29 billion in 2024, a change of 76.3%.

How much debt does Northern Trust have?

Northern Trust's total liabilities were at $142.72 billion at the end of 2024, a 2.8% increase from 2023, and a 32.1% increase since 2015.

How much cash does Northern Trust have?

In the past 9 years, Northern Trust's cash and equivalents has ranged from $3.06 billion in 2021 to $6.42 billion in 2015, and is currently $4.68 billion as of their latest financial filing in 2024.

How has Northern Trust's book value per share changed over the last 9 years?

Over the last 9 years, Northern Trust's book value per share changed from 35.97 in 2015 to 60.05 in 2024, a change of 66.9%.

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This page (NASDAQ:NTRS) was last updated on 5/21/2025 by MarketBeat.com Staff

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Northern Trust (NTRS) Financials

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Northern Trust (NTRS) Financials

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