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Northern Trust (NTRS) Financials

Northern Trust logo
$129.70 -0.07 (-0.05%)
Closing price 04:00 PM Eastern
Extended Trading
$129.72 +0.03 (+0.02%)
As of 04:13 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Northern Trust

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 802 950 1,009 1,149 1,510 1,446 1,153 1,504 1,294 1,066 1,989
Consolidated Net Income / (Loss)		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
Net Income / (Loss) Continuing Operations		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
Total Pre-Tax Income 		1,190 1,465 1,517 1,634 1,958 1,944 1,628 2,010 1,766 1,465 2,660
Total Revenue		 4,331 4,703 4,962 5,375 5,960 6,073 6,101 6,465 6,761 6,774 8,290
Net Interest Income / (Expense)		 1,006 1,070 1,235 1,429 1,623 1,678 1,443 1,383 1,887 1,982 2,177
Total Interest Income		 1,187 1,224 1,417 1,769 2,321 2,500 1,644 1,407 1,887 7,325 9,762
Investment Securities Interest Income		 1,187 1,224 1,417 1,769 - 2,500 1,644 1,407 2,878 7,325 9,762
Total Interest Expense		 181 154 182 340 699 822 200 24 0.00 5,343 7,585
Long-Term Debt Interest Expense		 181 154 182 340 699 822 200 24 - 5,343 7,585
Total Non-Interest Income		 3,326 3,633 3,727 3,946 4,338 4,395 4,658 5,082 4,874 4,792 6,113
Trust Fees by Commissions		 2,900 3,059 81 90 98 104 133 140 4,569 4,497 4,878
Other Service Charges		 220 312 304 214 179 190 239 288 231 260 1,193
Net Realized & Unrealized Capital Gains on Investments		 206 262 233 208 306 250 290 293 75 34 42
Provision for Credit Losses		 6.00 -43 -26 -28 -15 -15 125 -82 12 25 -3.00
Total Non-Interest Expense		 3,135 3,281 3,471 3,769 4,017 4,144 4,348 4,536 4,983 5,284 5,634
Salaries and Employee Benefits		 1,687 1,729 1,834 2,054 2,164 2,214 2,335 2,011 2,685 2,727 2,889
Net Occupancy & Equipment Expense		 602 628 645 716 783 825 904 945 1,058 1,178 1,292
Other Operating Expenses		 847 924 992 1,000 1,070 1,104 1,110 1,580 1,240 1,379 1,453
Income Tax Expense		 378 491 485 435 401 452 418 465 430 358 628
Preferred Stock Dividends Declared		 9.50 23 23 50 46 46 56 42 42 42 42
Basic Earnings per Share		 $3.34 $4.03 $4.35 $4.95 $6.68 $6.66 $5.48 $7.16 $6.16 $5.09 $9.80
Weighted Average Basic Shares Outstanding		 235.83M 232.28M 227.58M 228.26M 223.15M 214.53M 208.32M 208.08M 208.31M 207.25M 201.26M
Diluted Earnings per Share		 $3.32 $3.99 $4.32 $4.92 $6.64 $6.63 $5.46 $7.14 $6.14 $5.08 $9.77
Weighted Average Diluted Shares Outstanding		 237.72M 234.22M 229.15M 229.65M 224.49M 215.60M 209.01M 208.90M 208.87M 207.56M 201.87M
Weighted Average Basic & Diluted Shares Outstanding		 240.20M 235.80M 232M 232.20M 218.41M 209.25M 208.31M 207.90M 208.20M 204.84M 195.70M
Cash Dividends to Common per Share		 - - - $1.60 $1.94 $2.60 $2.80 $2.80 $2.90 $3.00 $3.00

Quarterly Income Statements for Northern Trust

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 151 318 327 312 108 199 891 449 451 376 417
Consolidated Net Income / (Loss)		 156 335 332 328 113 215 896 465 455 392 421
Net Income / (Loss) Continuing Operations		 156 335 332 328 113 215 896 465 455 392 421
Total Pre-Tax Income 		190 444 441 434 146 291 1,174 601 594 521 565
Total Revenue		 1,519 1,745 1,757 1,727 1,545 1,647 2,716 1,969 1,960 1,940 1,998
Net Interest Income / (Expense)		 535 531 512 456 483 528 523 562 564 568 611
Total Interest Income		 180 1,455 1,735 1,935 2,200 528 2,507 2,530 2,280 2,141 2,213
Investment Securities Interest Income		 1,170 1,455 1,735 1,935 2,200 2,446 2,507 2,530 2,280 2,141 2,213
Total Interest Expense		 -355 924 1,224 1,479 1,717 0.00 1,984 1,968 1,716 1,573 1,602
Total Non-Interest Income		 985 1,213 1,246 1,270 1,062 1,119 2,193 1,406 1,396 1,372 1,387
Trust Fees by Commissions		 4,468 35 36 31 4,395 1,181 34 36 4,771 39 40
Other Service Charges		 56 55 63 76 66 70 934 120 -1,074 60 66
Net Realized & Unrealized Capital Gains on Investments		 -149 53 50 52 -121 -132 58 54 62 59 51
Other Non-Interest Income		 - 1,064 1,096 1,112 - - 1,166 1,197 - 1,214 1,231
Provision for Credit Losses		 5.00 15 -16 14 11 -8.50 8.00 8.00 -11 1.00 17
Total Non-Interest Expense		 1,324 1,286 1,332 1,278 1,389 1,365 1,534 1,359 1,376 1,418 1,417
Salaries and Employee Benefits		 1,022 595 605 558 969 728 665 584 912 644 615
Net Occupancy & Equipment Expense		 295 293 283 291 311 307 332 324 329 334 346
Other Operating Expenses		 6.80 397 444 429 109 330 536 452 136 439 456
Income Tax Expense		 35 109 109 107 33 76 278 136 139 129 144
Preferred Stock Dividends Declared		 4.70 16 4.70 16 4.70 16 4.70 16 4.70 16 4.70
Basic Earnings per Share		 $0.72 $1.51 $1.56 $1.49 $0.53 $0.96 $4.35 $2.23 $2.26 $1.91 $2.14
Weighted Average Basic Shares Outstanding		 208.31M 208.19M 207.64M 207.02M 207.25M 204.63M 203.31M 199.94M 201.26M 195.19M 192.75M
Diluted Earnings per Share		 $0.71 $1.51 $1.56 $1.49 $0.52 $0.96 $4.34 $2.22 $2.25 $1.90 $2.13
Weighted Average Diluted Shares Outstanding		 208.87M 208.73M 207.82M 207.25M 207.56M 205.13M 203.74M 200.55M 201.87M 196.12M 193.37M
Weighted Average Basic & Diluted Shares Outstanding		 208.20M 208.34M 207.00M 207.04M 204.84M 204.59M 201.64M 198.22M 195.70M 194.54M 191.23M
Cash Dividends to Common per Share		 - $0.75 $0.75 $0.75 - $0.75 $0.75 $0.75 - $0.75 $0.75

Annual Cash Flow Statements for Northern Trust

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -138 3,398 -1,087 -814 64 -122 -70 -1,333 1,597 137 -114
Net Cash From Operating Activities		 936 1,834 1,510 1,720 1,768 2,592 1,897 1,356 2,392 2,626 -486
Net Cash From Continuing Operating Activities		 710 1,845 1,510 1,720 1,768 2,592 1,897 1,356 2,392 2,626 -486
Net Income / (Loss) Continuing Operations		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
Consolidated Net Income / (Loss)		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
Provision For Loan Losses		 6.00 -43 -26 -28 -15 -15 125 -82 12 25 -3.00
Depreciation Expense		 91 90 89 101 461 459 500 516 554 635 717
Amortization Expense		 54 325 385 426 96 65 89 100 59 3.00 -35
Non-Cash Adjustments to Reconcile Net Income		 -51 -167 -185 -89 -74 30 1.20 -8.90 -166 101 -2.00
Changes in Operating Assets and Liabilities, net		 -202 666 215 112 -258 561 -28 -714 598 755 -3,194
Net Cash From Investing Activities		 -8,235 -6,900 -10,192 -14,022 4,327 -3,405 -29,923 -18,603 25,930 4,784 -2,564
Net Cash From Continuing Investing Activities		 -8,235 -6,900 -10,192 -14,022 4,327 -3,405 -29,923 -18,603 25,930 4,784 -2,564
Purchase of Property, Leasehold Improvements and Equipment		 -410 -434 -473 -473 -506 -600 -560 -515 -724 -676 -746
Purchase of Investment Securities		 -23,295 -20,303 -21,670 -35,140 -34,164 -31,686 -72,524 -85,346 -16,856 -38,562 -40,624
Sale and/or Maturity of Investments		 16,227 14,992 15,344 21,505 30,354 27,931 43,383 68,060 43,284 42,484 38,671
Net Increase in Fed Funds Sold		 -533 -550 -373 679 -113 129 5.00 0.00 -32 32 -25
Other Investing Activities, net		 -224 -605 -3,019 -593 8,756 821 -227 -801 258 1,506 160
Net Cash From Financing Activities		 7,074 8,534 7,537 11,253 -5,818 616 27,872 16,074 -26,437 -7,183 3,440
Net Cash From Continuing Financing Activities		 7,074 8,534 7,537 11,253 -5,818 616 27,872 16,074 -26,437 -7,183 3,440
Net Change in Deposits		 8,488 8,106 6,737 8,524 -6,163 4,264 32,138 17,886 -32,997 -8,478 6,331
Issuance of Debt		 -164 2,313 0.00 1,318 2,360 498 -1,705 -427 5,956 941 -104
Repayment of Debt		 -640 -231 1,067 -209 -314 -1,185 -509 -779 -500 0.00 0.00
Repurchase of Common Equity		 -481 -497 -411 -523 -924 -1,100 -300 -268 -35 -348 -938
Payment of Dividends		 -303 -348 -356 -407 -452 -576 -631 -625 -797 -663 -644
Other Financing Activities, Net		 -215 -808 6.70 2,550 -325 -1,677 -722 286 1,936 1,366 -1,206
Effect of Exchange Rate Changes		 87 -71 59 235 -213 75 85 -160 -287 -90 -504
Cash Interest Paid		 187 162 182 329 670 846 227 31 822 5,286 7,610
Cash Income Taxes Paid		 279 390 754 441 494 437 328 371 460 363 269

Quarterly Cash Flow Statements for Northern Trust

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 161 172 72 58 -164 517 1,258 305 -2,195 -309 2,055
Net Cash From Operating Activities		 4,152 -165 -99 87 2,803 -1,453 2,990 611 -2,635 2,750 1,870
Net Cash From Continuing Operating Activities		 4,152 -165 -99 87 2,803 -1,453 2,990 611 -2,635 2,750 1,870
Net Income / (Loss) Continuing Operations		 156 335 332 328 113 215 896 465 455 392 421
Consolidated Net Income / (Loss)		 156 335 332 328 113 215 896 465 455 392 421
Provision For Loan Losses		 5.00 15 -16 14 11 -8.50 8.00 8.00 -11 1.00 17
Depreciation Expense		 148 155 153 158 169 170 181 183 183 191 196
Amortization Expense		 7.70 7.00 -2.70 1.50 -2.80 -7.70 -9.40 -7.50 -11 -14 -20
Changes in Operating Assets and Liabilities, net		 3,981 -653 -566 -414 2,389 -1,803 1,915 -37 -3,269 2,318 1,256
Net Cash From Investing Activities		 4,156 4,919 -5,351 10,079 -4,863 -4,793 951 3,487 -2,208 -10,285 -3,621
Net Cash From Continuing Investing Activities		 4,156 4,919 -5,351 10,079 -4,863 -4,793 951 3,487 -2,208 -10,285 -3,621
Purchase of Property, Leasehold Improvements and Equipment		 -228 -129 -171 -165 -210 -128 -182 -209 -227 -184 -218
Purchase of Investment Securities		 -4,438 -9,231 -14,223 97 -15,204 -17,163 -5,857 -5,919 -11,162 -19,363 -12,465
Sale and/or Maturity of Investments		 7,396 13,879 8,206 9,861 10,537 12,154 7,063 9,765 8,914 9,237 9,817
Net Increase in Fed Funds Sold		 -1.90 - - - 64 252 - - -25 328 -787
Other Investing Activities, net		 1,428 400 869 285 -50 91 -72 -151 292 -304 32
Net Cash From Financing Activities		 -8,281 -4,598 5,669 -9,962 1,708 6,936 -2,638 -4,011 3,152 6,824 3,516
Net Cash From Continuing Financing Activities		 -8,281 -4,598 5,669 -9,962 1,708 6,936 -2,638 -4,011 3,152 6,824 3,516
Net Change in Deposits		 -6,880 -10,478 -576 -2,036 4,611 7,983 -2,392 -3,479 4,218 7,172 3,555
Issuance of Debt		 1,395 3,766 1,022 -2,788 -1,059 -31 240 -209 -104 8.20 -65
Repurchase of Common Equity		 -0.10 -101 -99 -1.10 -146 -132 -251 -301 -254 -287 -339
Payment of Dividends		 -334 -173 -160 -172 -159 -170 -157 -165 -152 -162 -149
Other Financing Activities, Net		 -2,462 2,388 5,482 -4,248 -2,256 -715 -79 -106 -307 94 514
Effect of Exchange Rate Changes		 134 15 -148 -145 188 -173 -45 217 -504 403 290
Cash Interest Paid		 - - - - - 1,857 - - - 1,524 1,620
Cash Income Taxes Paid		 165 31 79 101 151 39 66 80 83 52 193

Annual Balance Sheets for Northern Trust

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 109,947 116,750 123,927 138,591 132,213 136,828 170,004 183,890 155,037 150,783 155,508
Cash and Due from Banks		 3,051 6,419 5,332 4,518 4,582 4,459 4,390 3,057 4,654 4,792 4,677
Federal Funds Sold		 1,063 1,614 1,974 1,324 1,165 5.00 - 0.00 32 0.00 451
Interest Bearing Deposits at Other Banks		 14,928 6,872 4,801 5,612 4,264 4,877 4,373 1,949 1,941 1,939 1,945
Trading Account Securities		 33,734 37,567 44,501 46,792 51,243 51,869 61,410 62,262 52,902 50,096 51,298
Loans and Leases, Net of Allowance		 31,640 0.00 0.00 32,592 32,490 31,410 33,760 40,481 42,893 47,617 43,391
Loans and Leases		 31,640 - - 32,592 32,490 31,410 33,760 40,481 42,893 47,617 43,391
Premises and Equipment, Net		 444 447 467 465 428 483 515 489 501 502 490
Goodwill		 533 526 519 606 669 697 707 706 691 702 695
Other Assets		 24,553 63,304 66,333 46,682 37,371 43,029 64,850 74,946 51,423 45,135 52,562
Total Liabilities & Shareholders' Equity		 109,947 116,750 123,927 138,591 132,213 136,828 170,004 183,890 155,037 150,783 155,508
Total Liabilities		 101,498 108,044 114,157 128,374 121,704 125,737 158,316 171,873 143,777 138,885 142,720
Non-Interest Bearing Deposits		 25,538 30,155 30,163 28,591 22,728 26,292 43,111 48,316 25,340 22,831 24,354
Interest Bearing Deposits		 65,219 66,714 71,489 83,800 81,769 82,829 100,767 111,613 98,592 93,333 98,129
Federal Funds Purchased and Securities Sold		 933 352 205 2,286 2,594 553 260 0.20 1,897 3,045 2,160
Short-Term Debt		 2,570 547 474 6,885 8,070 490 40 4,116 567 785 462
Long-Term Debt		 3,112 6,924 7,937 2,947 3,124 10,466 8,323 3,651 12,383 13,406 13,372
Other Long-Term Liabilities		 4,125 3,353 3,889 3,866 3,420 5,108 5,814 4,178 4,998 5,485 4,244
Total Equity & Noncontrolling Interests		 8,060 8,706 9,770 10,216 10,508 11,091 11,688 12,017 11,260 11,898 12,788
Total Preferred & Common Equity		 8,449 8,706 9,770 10,216 10,508 11,091 11,688 12,017 11,260 11,898 12,788
Preferred Stock		 - 389 882 - - 1,273 885 885 885 885 885
Total Common Equity		 8,060 8,317 8,888 10,216 10,508 9,818 10,803 11,132 10,375 11,013 11,904
Common Stock		 1,460 1,481 1,444 1,456 1,477 1,422 1,372 1,348 1,392 1,418 1,434
Retained Earnings		 7,625 8,243 8,908 9,685 10,777 11,657 12,208 13,117 13,799 14,234 15,615
Treasury Stock		 -705 -1,034 -1,094 -1,392 -2,174 -3,066 -3,205 -3,298 -3,247 -3,501 -4,331
Accumulated Other Comprehensive Income / (Loss)		 -320 -373 -370 -414 -454 -195 428 -36 -1,569 -1,138 -814

Quarterly Balance Sheets for Northern Trust

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 155,037 151,108 156,753 146,331 150,783 156,111 156,797 155,754 155,508 165,071 171,884
Cash and Due from Banks		 4,654 4,826 4,898 4,956 4,792 5,309 6,567 6,872 4,677 4,369 6,423
Federal Funds Sold		 32 0.00 0.00 0.00 0.00 - - - 25 124 922
Interest Bearing Deposits at Other Banks		 1,941 1,588 1,479 2,123 1,939 1,372 1,381 1,607 1,945 1,645 2,412
Trading Account Securities		 52,902 50,401 51,500 24,727 50,096 49,637 50,520 52,002 51,724 51,339 53,651
Loans and Leases, Net of Allowance		 42,893 0.00 43,547 68,497 47,617 47,343 42,135 41,950 43,391 40,833 43,323
Loans and Leases		 42,893 - 43,547 68,497 47,617 47,343 42,135 41,950 43,391 40,833 43,323
Premises and Equipment, Net		 501 482 474 465 502 488 481 480 490 477 468
Goodwill		 691 695 699 693 702 698 697 708 695 701 715
Other Assets		 51,423 93,116 54,157 44,871 45,135 51,265 55,016 52,135 52,562 65,583 63,969
Total Liabilities & Shareholders' Equity		 155,037 151,108 156,753 146,331 150,783 156,111 156,797 155,754 155,508 165,071 171,884
Total Liabilities		 143,777 139,520 145,117 134,483 138,885 144,009 144,141 143,005 142,720 152,193 159,017
Non-Interest Bearing Deposits		 25,340 23,414 21,326 20,938 22,831 25,327 20,926 22,175 24,354 21,905 25,139
Interest Bearing Deposits		 98,592 90,314 91,877 89,228 93,333 98,615 102,065 99,009 98,129 109,120 111,915
Federal Funds Purchased and Securities Sold		 1,897 4,487 9,345 5,539 3,045 2,601 2,406 2,762 2,160 2,378 2,389
Short-Term Debt		 567 363 13,370 546 785 7,038 629 171 6,983 6,870 7,374
Long-Term Debt		 12,383 16,205 4,791 13,621 13,406 6,813 13,641 13,801 6,851 6,895 6,925
Other Long-Term Liabilities		 4,998 4,737 4,408 4,612 5,485 3,617 4,474 5,088 4,244 5,024 5,276
Total Equity & Noncontrolling Interests		 11,260 11,588 11,636 11,847 11,898 12,102 12,656 12,749 12,788 12,879 12,867
Total Preferred & Common Equity		 11,260 11,588 11,636 11,847 11,898 12,102 12,656 12,749 12,788 12,879 12,867
Preferred Stock		 885 885 885 885 885 885 885 885 885 885 885
Total Common Equity		 10,375 10,703 10,751 10,962 11,013 11,217 11,771 11,864 11,904 11,994 11,982
Common Stock		 1,392 1,373 1,389 1,402 1,418 1,392 1,406 1,417 1,434 1,406 1,419
Retained Earnings		 13,799 13,958 14,128 14,282 14,234 14,279 15,016 15,313 15,615 15,842 16,113
Treasury Stock		 -3,247 -3,262 -3,360 -3,358 -3,501 -3,537 -3,786 -4,086 -4,331 -4,515 -4,851
Accumulated Other Comprehensive Income / (Loss)		 -1,569 -1,366 -1,406 -1,363 -1,138 -918 -865 -780 -814 -740 -699

Annual Metrics And Ratios for Northern Trust

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.92% 8.58% 5.51% 8.33% 10.88% 1.89% 0.46% 5.96% 4.59% 0.18% 22.39%
EBITDA Growth		 8.23% 40.87% 5.88% 8.50% 16.38% -1.87% -10.16% 18.43% -9.38% -11.63% 58.92%
EBIT Growth		 10.66% 23.09% 3.56% 7.70% 19.82% -0.70% -16.28% 23.50% -12.13% -17.07% 81.56%
NOPAT Growth		 11.01% 19.96% 6.03% 16.13% 29.81% -4.12% -18.96% 27.78% -13.54% -17.12% 83.43%
Net Income Growth		 11.01% 19.96% 6.03% 16.13% 29.81% -4.12% -18.96% 27.78% -13.54% -17.12% 83.43%
EPS Growth		 11.04% 20.18% 8.27% 13.89% 34.96% -0.15% -17.65% 30.77% -14.01% -17.26% 92.32%
Operating Cash Flow Growth		 11.52% 95.98% -17.68% 13.93% 2.74% 46.65% -26.82% -28.51% 76.43% 9.75% -118.51%
Free Cash Flow Firm Growth		 182.29% -238.36% 9.23% 31.30% 85.40% 1,277.03% 179.24% -43.43% -270.43% 75.02% 293.98%
Invested Capital Growth		 0.27% 14.47% 12.39% 10.27% 8.25% 1.59% -9.05% -1.33% 22.37% 7.76% 2.05%
Revenue Q/Q Growth		 2.00% 0.57% 1.74% -10.42% 17.50% 0.73% -0.42% 2.30% -2.14% 0.39% 5.26%
EBITDA Q/Q Growth		 5.49% 15.41% 3.12% -26.20% 52.13% -0.38% -3.47% 5.63% -11.87% -1.61% 15.75%
EBIT Q/Q Growth		 9.18% 0.32% 2.65% -31.81% 78.10% -0.49% -5.95% 7.27% -15.31% -2.95% 20.28%
NOPAT Q/Q Growth		 10.07% -0.48% 2.71% 8.13% 3.55% -2.53% -9.72% 11.99% -15.80% -3.70% 20.27%
Net Income Q/Q Growth		 10.07% -0.48% 2.71% 8.13% 3.55% -2.53% -9.72% 11.99% -15.80% -3.70% 20.27%
EPS Q/Q Growth		 9.21% 0.25% 2.86% 8.85% 4.57% -1.34% -9.60% 12.44% -16.46% -3.61% 21.52%
Operating Cash Flow Q/Q Growth		 -18.74% 1,153.86% -25.33% 0.71% -18.14% 83.22% -7.78% 71.56% 747.47% -33.94% -109.81%
Free Cash Flow Firm Q/Q Growth		 273.98% -7.18% -309.01% 66.79% -155.49% 807.19% 113.48% -12.59% -466.21% 67.05% 52.58%
Invested Capital Q/Q Growth		 -0.93% -0.40% 8.34% 0.73% 2.23% -2.59% -10.77% -9.16% 7.50% 0.29% -0.37%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 30.83% 39.99% 40.13% 40.20% 42.19% 40.63% 36.34% 40.61% 35.19% 31.04% 40.30%
EBIT Margin		 27.48% 31.15% 30.58% 30.40% 32.85% 32.01% 26.68% 31.09% 26.12% 21.63% 32.08%
Profit (Net Income) Margin		 18.74% 20.71% 20.81% 22.31% 26.11% 24.57% 19.82% 23.90% 19.76% 16.35% 24.50%
Tax Burden Percent		 68.21% 66.47% 68.06% 73.38% 79.50% 76.76% 74.30% 76.88% 75.64% 75.59% 76.37%
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		 31.79% 33.53% 31.94% 26.62% 20.50% 23.24% 25.70% 23.12% 24.36% 24.41% 23.63%
Return on Invested Capital (ROIC)		 5.75% 6.43% 6.01% 6.27% 7.46% 6.82% 5.75% 7.76% 6.07% 4.40% 7.71%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.75% 6.43% 6.01% 6.27% 7.46% 6.82% 5.75% 7.76% 6.07% 4.40% 7.71%
Return on Net Nonoperating Assets (RNNOA)		 4.41% 5.19% 5.17% 5.73% 7.56% 7.00% 4.87% 5.28% 5.41% 5.16% 8.75%
Return on Equity (ROE)		 10.17% 11.62% 11.18% 12.00% 15.02% 13.82% 10.62% 13.04% 11.48% 9.56% 16.46%
Cash Return on Invested Capital (CROIC)		 5.49% -7.07% -5.66% -3.49% -0.47% 5.25% 15.22% 9.10% -14.05% -3.07% 5.68%
Operating Return on Assets (OROA)		 1.12% 1.29% 1.26% 1.24% 1.45% 1.45% 1.06% 1.14% 1.04% 0.96% 1.74%
Return on Assets (ROA)		 0.76% 0.86% 0.86% 0.91% 1.15% 1.11% 0.79% 0.87% 0.79% 0.72% 1.33%
Return on Common Equity (ROCE)		 10.17% 11.35% 10.41% 11.47% 15.02% 13.00% 9.61% 12.06% 10.61% 8.83% 15.28%
Return on Equity Simple (ROE_SIMPLE)		 9.61% 11.19% 10.57% 11.74% 14.81% 13.45% 10.35% 12.86% 11.87% 9.31% 15.88%
Net Operating Profit after Tax (NOPAT)		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
NOPAT Margin		 18.74% 20.71% 20.81% 22.31% 26.11% 24.57% 19.82% 23.90% 19.76% 16.35% 24.50%
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		 52.83% 50.12% 49.97% 51.52% 49.44% 50.04% 53.08% 45.73% 55.36% 57.65% 50.43%
Operating Expenses to Revenue		 72.38% 69.76% 69.95% 70.12% 67.40% 68.23% 71.27% 70.17% 73.70% 78.01% 67.96%
Earnings before Interest and Taxes (EBIT)		 1,190 1,465 1,517 1,634 1,958 1,944 1,628 2,010 1,766 1,465 2,660
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,335 1,881 1,991 2,161 2,515 2,468 2,217 2,625 2,379 2,102 3,341
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.56 1.62 1.88 1.87 1.51 2.02 1.64 2.09 1.66 1.54 1.79
Price to Tangible Book Value (P/TBV)		 1.68 1.73 1.99 1.99 1.61 2.18 1.75 2.23 1.77 1.65 1.91
Price to Revenue (P/Rev)		 2.91 2.87 3.36 3.56 2.67 3.27 2.90 3.59 2.54 2.51 2.58
Price to Earnings (P/E)		 15.72 14.21 16.53 16.64 10.52 13.73 15.34 15.46 13.28 15.96 10.74
Dividend Yield		 2.43% 2.41% 2.01% 1.90% 2.70% 2.77% 3.29% 2.50% 3.52% 3.68% 2.93%
Earnings Yield		 6.36% 7.04% 6.05% 6.01% 9.50% 7.28% 6.52% 6.47% 7.53% 6.27% 9.31%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.40 0.76 0.87 0.79 1.03 0.91 1.36 1.01 0.97 1.11
Enterprise Value to Revenue (EV/Rev)		 0.00 1.37 2.79 3.26 2.86 3.74 2.98 4.16 3.61 3.74 3.55
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 3.43 6.96 8.10 6.79 9.22 8.20 10.24 10.25 12.06 8.81
Enterprise Value to EBIT (EV/EBIT)		 0.00 4.41 9.14 10.71 8.72 11.70 11.17 13.37 13.81 17.31 11.07
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 6.63 13.43 14.60 10.97 15.24 15.03 17.40 18.25 22.89 14.49
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 3.52 9.18 10.18 9.66 8.77 9.58 19.83 10.19 9.65 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 19.82 5.67 14.83 0.00 0.00 19.66
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.71 0.86 0.86 0.96 1.07 0.99 0.72 0.65 1.15 1.19 1.08
Long-Term Debt to Equity		 0.39 0.80 0.81 0.29 0.30 0.94 0.71 0.30 1.10 1.13 0.54
Financial Leverage		 0.77 0.81 0.86 0.91 1.01 1.03 0.85 0.68 0.89 1.17 1.14
Leverage Ratio		 13.33 13.52 13.03 13.13 13.07 12.46 13.47 14.93 14.56 13.21 12.41
Compound Leverage Factor		 13.33 13.52 13.03 13.13 13.07 12.46 13.47 14.93 14.56 13.21 12.41
Debt to Total Capital		 41.35% 46.18% 46.26% 49.04% 51.58% 49.69% 41.71% 39.26% 53.49% 54.39% 51.96%
Short-Term Debt to Total Capital		 18.70% 3.38% 2.61% 34.34% 37.19% 2.22% 0.20% 20.80% 2.34% 3.01% 26.23%
Long-Term Debt to Total Capital		 22.65% 42.80% 43.66% 14.70% 14.39% 47.47% 41.51% 18.46% 51.15% 51.39% 25.73%
Preferred Equity to Total Capital		 0.00% 2.40% 4.85% 0.00% 0.00% 5.78% 4.41% 4.47% 3.66% 3.39% 3.32%
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		 58.65% 51.42% 48.89% 50.96% 48.42% 44.53% 53.88% 56.27% 42.85% 42.21% 44.71%
Debt to EBITDA		 4.26 3.97 4.22 4.55 4.45 4.44 3.77 2.96 5.44 6.75 4.14
Net Debt to EBITDA		 -10.01 -3.95 -1.86 -0.75 0.47 0.65 -0.18 1.05 2.66 3.55 2.15
Long-Term Debt to EBITDA		 2.33 3.68 3.99 1.36 1.24 4.24 3.75 1.39 5.20 6.38 2.05
Debt to NOPAT		 7.00 7.67 8.15 8.20 7.19 7.34 6.92 5.03 9.69 12.82 6.81
Net Debt to NOPAT		 -16.46 -7.63 -3.58 -1.35 0.76 1.08 -0.33 1.79 4.73 6.74 3.54
Long-Term Debt to NOPAT		 3.83 7.11 7.69 2.46 2.01 7.01 6.88 2.36 9.27 12.11 3.37
Noncontrolling Interest Sharing Ratio		 0.00% 2.32% 6.88% 4.41% 0.00% 5.90% 9.47% 7.47% 7.60% 7.64% 7.17%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 774 -1,071 -972 -668 -98 1,148 3,205 1,813 -3,090 -772 1,497
Operating Cash Flow to CapEx		 228.57% 423.16% 318.97% 363.87% 349.31% 432.14% 338.47% 263.25% 330.67% 388.52% -65.19%
Free Cash Flow to Firm to Interest Expense		 4.27 -6.96 -5.34 -1.96 -0.14 1.40 16.00 76.17 0.00 -0.14 0.20
Operating Cash Flow to Interest Expense		 5.16 11.92 8.30 5.06 2.53 3.15 9.47 56.97 0.00 0.49 -0.06
Operating Cash Flow Less CapEx to Interest Expense		 2.90 9.10 5.70 3.67 1.81 2.42 6.67 35.33 0.00 0.36 -0.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 0.04 0.04 0.05
Fixed Asset Turnover		 9.59 10.55 10.86 11.54 13.35 13.33 12.22 12.88 13.67 13.51 16.71
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 14,131 16,176 18,181 20,048 21,702 22,047 20,051 19,784 24,209 26,089 26,622
Invested Capital Turnover		 0.31 0.31 0.29 0.28 0.29 0.28 0.29 0.32 0.31 0.27 0.31
Increase / (Decrease) in Invested Capital		 38 2,045 2,005 1,867 1,654 345 -1,995 -268 4,426 1,879 534
Enterprise Value (EV)		 -749 6,460 13,865 17,505 17,070 22,743 18,176 26,884 24,388 25,350 29,435
Market Capitalization		 12,610 13,506 16,679 19,128 15,887 19,855 17,690 23,238 17,181 17,005 21,363
Book Value per Share		 $34.23 $35.97 $39.25 $44.92 $47.46 $46.34 $51.91 $53.61 $49.78 $53.19 $60.05
Tangible Book Value per Share		 $31.96 $33.70 $36.96 $42.26 $44.44 $43.05 $48.51 $50.21 $46.46 $49.80 $56.55
Total Capital		 13,743 16,176 18,181 20,048 21,702 22,047 20,051 19,784 24,209 26,089 26,622
Total Debt		 5,682 7,470 8,411 9,832 11,194 10,956 8,363 7,767 12,950 14,191 13,834
Total Long-Term Debt		 3,112 6,924 7,937 2,947 3,124 10,466 8,323 3,651 12,383 13,406 6,851
Net Debt		 -13,359 -7,435 -3,696 -1,622 1,183 1,614 -399 2,761 6,323 7,460 7,187
Capital Expenditures (CapEx)		 410 434 473 473 506 600 560 515 724 676 746
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)		 6,071 7,470 8,411 9,832 11,194 10,956 8,363 7,767 12,950 14,191 13,834
Total Depreciation and Amortization (D&A)		 145 416 474 527 557 524 589 615 613 638 682
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.34 $4.03 $4.35 $4.95 $6.68 $6.66 $5.48 $7.16 $6.16 $5.09 $9.80
Adjusted Weighted Average Basic Shares Outstanding		 235.83M 232.28M 227.58M 228.26M 223.15M 214.53M 208.32M 208.08M 208.31M 207.25M 201.26M
Adjusted Diluted Earnings per Share		 $3.32 $3.99 $4.32 $4.92 $6.64 $6.63 $5.46 $7.14 $6.14 $5.08 $9.77
Adjusted Weighted Average Diluted Shares Outstanding		 237.72M 234.22M 229.15M 229.65M 224.49M 215.60M 209.01M 208.90M 208.87M 207.56M 201.87M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 233.49M 228.98M 228.79M 226.33M 218.41M 209.25M 208.31M 207.90M 208.20M 204.84M 195.70M
Normalized Net Operating Profit after Tax (NOPAT)		 812 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031
Normalized NOPAT Margin		 18.74% 20.71% 20.81% 22.31% 26.11% 24.57% 19.82% 23.90% 19.76% 16.35% 24.50%
Pre Tax Income Margin		 27.48% 31.15% 30.58% 30.40% 32.85% 32.01% 26.68% 31.09% 26.12% 21.63% 32.08%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.56 9.52 8.34 4.80 2.80 2.37 8.13 84.46 0.00 0.27 0.35
NOPAT to Interest Expense		 4.48 6.33 5.67 3.52 2.23 1.82 6.04 64.93 0.00 0.21 0.27
EBIT Less CapEx to Interest Expense		 4.30 6.70 5.73 3.41 2.08 1.64 5.33 62.82 0.00 0.15 0.25
NOPAT Less CapEx to Interest Expense		 2.22 3.51 3.07 2.13 1.50 1.09 3.24 43.29 0.00 0.08 0.17
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 37.31% 35.78% 34.52% 33.91% 29.03% 38.61% 52.14% 40.45% 59.63% 59.90% 31.71%
Augmented Payout Ratio		 96.53% 86.80% 74.33% 77.54% 88.42% 112.34% 76.93% 57.77% 62.28% 91.29% 77.88%

Quarterly Metrics And Ratios for Northern Trust

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -8.88% 1.51% -0.66% -1.61% 1.73% -5.61% 54.54% 14.02% 26.81% 17.80% -26.43%
EBITDA Growth		 -48.07% -8.67% -13.93% -13.07% -9.90% -25.20% 127.45% 30.91% 145.71% 54.06% -44.93%
EBIT Growth		 -62.64% -13.08% -18.48% -17.20% -23.42% -34.55% 166.30% 38.41% 307.54% 79.42% -51.87%
NOPAT Growth		 -61.69% -14.05% -16.25% -16.97% -27.36% -35.83% 170.07% 41.82% 302.65% 82.58% -52.99%
Net Income Growth		 -61.69% -14.05% -16.25% -16.97% -27.36% -35.83% 170.07% 41.82% 302.65% 82.58% -52.99%
EPS Growth		 -63.02% -14.69% -16.13% -17.22% -26.76% -36.42% 178.21% 48.99% 332.69% 97.92% -50.92%
Operating Cash Flow Growth		 103.34% -122.08% 93.83% 109.68% -32.49% -780.90% 3,108.35% 604.84% -193.99% 289.30% -37.48%
Free Cash Flow Firm Growth		 -733.53% -426.10% -519.77% -808.87% 58.64% 126.65% 138.91% 92.33% 95.56% -112.39% -95.19%
Invested Capital Growth		 22.37% 50.20% 50.61% 15.51% 7.76% -7.83% -9.64% 2.72% 2.05% 2.67% 0.89%
Revenue Q/Q Growth		 -13.44% 14.85% 0.72% -1.74% -10.50% 6.57% 64.90% -27.51% -0.45% -1.00% 2.98%
EBITDA Q/Q Growth		 -49.26% 74.96% -2.43% 0.36% -47.41% 45.26% 196.71% -42.24% -1.30% -8.92% 6.06%
EBIT Q/Q Growth		 -63.70% 133.19% -0.74% -1.45% -66.43% 99.31% 303.85% -48.78% -1.15% -12.25% 8.32%
NOPAT Q/Q Growth		 -60.56% 114.90% -0.84% -1.21% -65.50% 89.83% 317.37% -48.12% -2.04% -13.92% 7.47%
Net Income Q/Q Growth		 -60.56% 114.90% -0.84% -1.21% -65.50% 89.83% 317.37% -48.12% -2.04% -13.92% 7.47%
EPS Q/Q Growth		 -60.56% 112.68% 3.31% -4.49% -65.10% 84.62% 352.08% -48.85% 1.35% -15.56% 12.11%
Operating Cash Flow Q/Q Growth		 563.55% -103.97% 39.72% 187.22% 3,133.22% -151.82% 305.86% -79.56% -531.16% 204.36% -32.01%
Free Cash Flow Firm Q/Q Growth		 -1,126.31% -112.56% -6.66% 67.31% 44.19% 236.95% 55.75% -106.44% 67.68% -282.27% 160.46%
Invested Capital Q/Q Growth		 7.50% 16.30% 5.83% -12.70% 0.29% -0.52% 3.75% -0.76% -0.37% 0.08% 1.96%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 22.80% 34.73% 33.65% 34.36% 20.19% 27.52% 49.52% 39.46% 39.12% 35.99% 37.06%
EBIT Margin		 12.53% 25.45% 25.08% 25.15% 9.44% 17.65% 43.22% 30.54% 30.32% 26.88% 28.27%
Profit (Net Income) Margin		 10.25% 19.18% 18.88% 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09%
Tax Burden Percent		 81.78% 75.36% 75.29% 75.48% 77.57% 73.88% 76.35% 77.34% 76.64% 75.18% 74.59%
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		 18.22% 24.64% 24.71% 24.52% 22.43% 26.12% 23.65% 22.66% 23.36% 24.82% 25.41%
Return on Invested Capital (ROIC)		 3.15% 5.55% 5.16% 5.28% 1.97% 3.22% 8.88% 7.05% 7.31% 6.60% 6.13%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.15% 5.55% 5.16% 5.28% 1.97% 3.22% 8.88% 7.05% 7.31% 6.60% 6.13%
Return on Net Nonoperating Assets (RNNOA)		 2.80% 5.77% 6.11% 5.92% 2.31% 4.13% 11.86% 8.07% 8.30% 7.29% 6.87%
Return on Equity (ROE)		 5.95% 11.32% 11.27% 11.20% 4.28% 7.35% 20.74% 15.13% 15.61% 13.89% 13.00%
Cash Return on Invested Capital (CROIC)		 -14.05% -34.67% -35.48% -9.65% -3.07% 11.80% 15.59% 3.72% 5.68% 5.77% 5.52%
Operating Return on Assets (OROA)		 0.50% 1.07% 1.08% 1.11% 0.42% 0.77% 2.10% 1.59% 1.64% 1.44% 1.35%
Return on Assets (ROA)		 0.41% 0.80% 0.81% 0.84% 0.32% 0.57% 1.61% 1.23% 1.26% 1.08% 1.01%
Return on Common Equity (ROCE)		 5.50% 10.88% 10.39% 10.33% 3.95% 6.80% 19.23% 14.04% 14.49% 12.90% 12.10%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.06% 10.46% 9.71% 0.00% 8.16% 12.26% 13.25% 0.00% 17.15% 13.47%
Net Operating Profit after Tax (NOPAT)		 156 335 332 328 113 215 896 465 455 392 421
NOPAT Margin		 10.25% 19.18% 18.88% 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09%
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		 86.69% 50.91% 50.52% 49.19% 82.81% 62.85% 36.73% 46.12% 63.30% 50.45% 48.10%
Operating Expenses to Revenue		 87.14% 73.69% 75.80% 74.03% 89.85% 82.87% 56.49% 69.06% 70.21% 73.07% 70.90%
Earnings before Interest and Taxes (EBIT)		 190 444 441 434 146 291 1,174 601 594 521 565
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 346 606 591 593 312 453 1,345 777 767 698 741
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.66 1.65 1.38 1.27 1.54 1.65 1.49 1.58 1.79 1.71 2.21
Price to Tangible Book Value (P/TBV)		 1.77 1.77 1.48 1.36 1.65 1.76 1.58 1.68 1.91 1.82 2.35
Price to Revenue (P/Rev)		 2.54 2.60 2.20 2.07 2.51 2.78 2.29 2.38 2.58 2.40 3.36
Price to Earnings (P/E)		 13.28 14.26 12.66 12.60 15.96 19.60 11.59 11.39 10.74 9.49 15.62
Dividend Yield		 3.52% 3.48% 4.20% 4.48% 3.68% 3.37% 3.57% 3.33% 2.93% 3.04% 2.37%
Earnings Yield		 7.53% 7.01% 7.90% 7.93% 6.27% 5.10% 8.63% 8.78% 9.31% 10.54% 6.40%
Enterprise Value to Invested Capital (EV/IC)		 1.01 1.02 0.92 0.84 0.97 1.02 0.92 0.94 1.11 1.09 1.17
Enterprise Value to Revenue (EV/Rev)		 3.61 4.23 4.07 3.25 3.74 3.98 3.24 3.19 3.55 3.39 4.05
Enterprise Value to EBITDA (EV/EBITDA)		 10.25 12.37 12.38 10.27 12.06 13.64 9.14 8.71 8.81 8.11 10.68
Enterprise Value to EBIT (EV/EBIT)		 13.81 16.90 17.22 14.54 17.31 20.27 12.09 11.37 11.07 10.06 13.96
Enterprise Value to NOPAT (EV/NOPAT)		 18.25 22.41 22.64 19.08 22.89 26.93 15.92 14.89 14.49 13.16 18.37
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.19 19.39 9.21 5.52 9.65 19.87 5.58 5.08 0.00 7.82 12.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 8.33 5.59 25.62 19.66 19.17 21.33
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.15 1.43 1.56 1.20 1.19 1.14 1.13 1.10 1.08 1.07 1.11
Long-Term Debt to Equity		 1.10 1.40 0.41 1.15 1.13 0.56 1.08 1.08 0.54 0.54 0.54
Financial Leverage		 0.89 1.04 1.18 1.12 1.17 1.28 1.34 1.14 1.14 1.11 1.12
Leverage Ratio		 14.56 14.07 13.85 13.38 13.21 12.97 12.91 12.28 12.41 12.86 12.88
Compound Leverage Factor		 14.56 14.07 13.85 13.38 13.21 12.97 12.91 12.28 12.41 12.86 12.88
Debt to Total Capital		 53.49% 58.84% 60.95% 54.46% 54.39% 53.37% 53.00% 52.29% 51.96% 51.66% 52.64%
Short-Term Debt to Total Capital		 2.34% 1.29% 44.87% 2.10% 3.01% 27.12% 2.34% 0.64% 26.23% 25.79% 27.15%
Long-Term Debt to Total Capital		 51.15% 57.56% 16.08% 52.36% 51.39% 26.25% 50.66% 51.65% 25.73% 25.88% 25.49%
Preferred Equity to Total Capital		 3.66% 3.14% 2.97% 3.40% 3.39% 3.41% 3.29% 3.31% 3.32% 3.32% 3.26%
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		 42.85% 38.01% 36.08% 42.14% 42.21% 43.22% 43.72% 44.40% 44.71% 45.01% 44.11%
Debt to EBITDA		 5.44 7.14 8.16 6.63 6.75 7.10 5.28 4.84 4.14 3.84 4.80
Net Debt to EBITDA		 2.66 4.37 5.29 3.32 3.55 3.68 2.34 1.90 2.15 2.13 1.52
Long-Term Debt to EBITDA		 5.20 6.98 2.15 6.37 6.38 3.49 5.05 4.78 2.05 1.92 2.32
Debt to NOPAT		 9.69 12.93 14.92 12.32 12.82 14.03 9.20 8.27 6.81 6.23 8.25
Net Debt to NOPAT		 4.73 7.92 9.68 6.16 6.74 7.26 4.07 3.25 3.54 3.45 2.62
Long-Term Debt to NOPAT		 9.27 12.65 3.94 11.84 12.11 6.90 8.79 8.17 3.37 3.12 3.99
Noncontrolling Interest Sharing Ratio		 7.60% 3.85% 7.79% 7.74% 7.64% 7.47% 7.29% 7.20% 7.17% 7.08% 6.93%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4,270 -9,076 -9,681 -3,165 -1,766 2,419 3,767 -243 -78 -300 181
Operating Cash Flow to CapEx		 1,824.25% -127.73% -57.99% 52.55% 1,332.95% -1,136.62% 1,640.32% 292.53% -1,163.27% 1,498.53% 859.54%
Free Cash Flow to Firm to Interest Expense		 0.00 -9.82 -7.91 -2.14 -1.03 1.26 1.90 -0.12 -0.05 -0.19 0.11
Operating Cash Flow to Interest Expense		 0.00 -0.18 -0.08 0.06 1.63 -0.76 1.51 0.31 -1.54 1.75 1.17
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -0.32 -0.22 -0.05 1.51 -0.82 1.42 0.20 -1.67 1.63 1.03
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.05 0.05
Fixed Asset Turnover		 13.67 14.03 14.26 14.44 13.51 13.77 15.99 16.66 16.71 17.78 16.58
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 24,209 28,156 29,797 26,014 26,089 25,952 26,926 26,721 26,622 26,644 27,166
Invested Capital Turnover		 0.31 0.29 0.27 0.28 0.27 0.25 0.27 0.30 0.31 0.33 0.29
Increase / (Decrease) in Invested Capital		 4,426 9,411 10,013 3,493 1,879 -2,204 -2,871 708 534 692 240
Enterprise Value (EV)		 24,388 28,714 27,551 21,940 25,350 26,587 24,710 25,142 29,435 29,072 31,852
Market Capitalization		 17,181 17,675 14,882 13,967 17,005 18,532 17,503 18,764 21,363 20,560 26,425
Book Value per Share		 $49.78 $51.41 $51.60 $52.96 $53.19 $54.82 $57.53 $58.84 $60.05 $61.29 $61.59
Tangible Book Value per Share		 $46.46 $48.07 $48.25 $49.61 $49.80 $51.41 $54.12 $55.33 $56.55 $57.71 $57.92
Total Capital		 24,209 28,156 29,797 26,014 26,089 25,952 26,926 26,721 26,622 26,644 27,166
Total Debt		 12,950 16,568 18,161 14,166 14,191 13,850 14,270 13,972 13,834 13,765 14,299
Total Long-Term Debt		 12,383 16,205 4,791 13,621 13,406 6,813 13,641 13,801 6,851 6,895 6,925
Net Debt		 6,323 10,154 11,784 7,088 7,460 7,169 6,322 5,494 7,187 7,627 4,542
Capital Expenditures (CapEx)		 228 129 171 165 210 128 182 209 227 184 218
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)		 12,950 16,568 18,161 14,166 14,191 13,850 14,270 13,972 13,834 13,765 14,299
Total Depreciation and Amortization (D&A)		 156 162 151 159 166 163 171 176 172 177 176
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.72 $1.51 $1.56 $1.49 $0.53 $0.96 $4.35 $2.23 $2.26 $1.91 $2.14
Adjusted Weighted Average Basic Shares Outstanding		 208.31M 208.19M 207.64M 207.02M 207.25M 204.63M 203.31M 199.94M 201.26M 195.19M 192.75M
Adjusted Diluted Earnings per Share		 $0.71 $1.51 $1.56 $1.49 $0.52 $0.96 $4.34 $2.22 $2.25 $1.90 $2.13
Adjusted Weighted Average Diluted Shares Outstanding		 208.87M 208.73M 207.82M 207.25M 207.56M 205.13M 203.74M 200.55M 201.87M 196.12M 193.37M
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		 208.20M 208.34M 207.00M 207.04M 204.84M 204.59M 201.64M 198.22M 195.70M 194.54M 191.23M
Normalized Net Operating Profit after Tax (NOPAT)		 156 335 332 328 113 215 896 465 455 392 421
Normalized NOPAT Margin		 10.25% 19.18% 18.88% 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09%
Pre Tax Income Margin		 12.53% 25.45% 25.08% 25.15% 9.44% 17.65% 43.22% 30.54% 30.32% 26.88% 28.27%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.48 0.36 0.29 0.08 0.15 0.59 0.31 0.35 0.33 0.35
NOPAT to Interest Expense		 0.00 0.36 0.27 0.22 0.07 0.11 0.45 0.24 0.27 0.25 0.26
EBIT Less CapEx to Interest Expense		 0.00 0.34 0.22 0.18 -0.04 0.08 0.50 0.20 0.21 0.21 0.22
NOPAT Less CapEx to Interest Expense		 0.00 0.22 0.13 0.11 -0.06 0.05 0.36 0.13 0.13 0.13 0.13
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 59.63% 63.94% 67.15% 72.88% 59.90% 66.88% 42.33% 38.53% 31.71% 28.83% 36.27%
Augmented Payout Ratio		 62.28% 71.93% 83.70% 90.39% 91.29% 105.23% 76.50% 87.70% 77.88% 78.32% 104.42%

Key Financial Trends

The latest financial results for Northern Trust (NASDAQ: NTRS) in Q2 2025 reveal several important trends when viewed over the past four years, highlighting the company's performance and financial health.

  • Net income continues to grow, with Q2 2025 net income at $421.3 million, up from $198.5 million in Q1 2024 and $214.7 million in Q1 2023, showing solid earnings momentum.
  • Total revenue for Q2 2025 was approximately $1.998 billion, reflecting a steady revenue stream driven by both interest and non-interest income components.
  • Net interest income increased to $610.5 million in Q2 2025, up from $528.1 million in Q1 2024, suggesting effective interest margin management amid changing interest rate environments.
  • Operating cash flow remained strong, with net cash from continuing operating activities at $1.87 billion in Q2 2025, indicating robust cash generation capabilities.
  • Total deposits increased by $3.56 billion in the latest quarter, supporting the liability base and providing liquidity for future lending.
  • Share repurchases and dividend payments continued, with $339.4 million spent on repurchasing common equity and $148.7 million in dividends, reflecting capital return to shareholders.
  • Total assets grew to $171.88 billion by Q2 2025 from $156.11 billion in Q1 2024, signaling expansion but also bringing capital and risk management considerations.
  • Loans and leases net of allowance rose to $43.3 billion in Q2 2025 from $40.8 billion in Q1 2024, indicating moderate loan book growth.
  • Non-interest expense remains elevated, with $1.42 billion in Q2 2025 non-interest expense, similar to prior periods, potentially pressuring operating margins.
  • Investment securities purchases significantly exceed sales and maturities in recent quarters, reflecting potential liquidity deployment risks or asset mix shifts, with purchases at $12.47 billion vs. sales/maturities at $9.82 billion in Q2 2025.

Overall Analysis: Northern Trust has demonstrated consistent growth in net income and strong cash flow generation over the recent years, complemented by steady deposit growth and shareholder returns. The increase in net interest income vs. total interest expense highlights favorable net interest margin trends. However, maintaining control over non-interest expenses and careful management of investment securities investments will be key to sustaining profitability and liquidity.

Investors should monitor how Northern Trust balances its asset growth with expense control and capital returns, while navigating interest rate changes and credit risk environment navigating into 2025 and beyond.

09/03/25 02:19 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Northern Trust's Financials

When does Northern Trust's fiscal year end?

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

How has Northern Trust's net income changed over the last 10 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 $811.80 million in 2014. The previous period was $1.11 billion in 2023. See Northern Trust's forecast for analyst expectations on what’s next for the company.

How has Northern Trust's revenue changed over the last 10 years?

Over the last 10 years, Northern Trust's total revenue changed from $4.33 billion in 2014 to $8.29 billion in 2024, a change of 91.4%.

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 40.6% increase since 2014.

How much cash does Northern Trust have?

In the past 10 years, Northern Trust's cash and equivalents has ranged from $3.05 billion in 2014 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 10 years?

Over the last 10 years, Northern Trust's book value per share changed from 34.23 in 2014 to 60.05 in 2024, a change of 75.5%.


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This page (NASDAQ:NTRS) was last updated on 9/3/2025 by MarketBeat.com Staff
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