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Northern Trust (NTRSO) Financials

Northern Trust logo
$19.22 +0.02 (+0.10%)
Closing price 05/14/2026 03:54 PM Eastern
Extended Trading
$19.22 0.00 (-0.01%)
As of 04:05 AM Eastern
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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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 950 1,009 1,149 1,510 1,446 1,153 1,504 1,294 1,066 1,989 1,695
Consolidated Net Income / (Loss)		 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031 1,737
Net Income / (Loss) Continuing Operations		 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031 1,737
Total Pre-Tax Income 		1,465 1,517 1,634 1,958 1,944 1,628 2,010 1,766 1,465 2,660 2,340
Total Revenue		 4,703 4,962 5,375 5,960 6,073 6,101 6,465 6,761 6,774 8,290 8,086
Net Interest Income / (Expense)		 1,070 1,235 1,429 1,623 1,678 1,443 1,383 1,887 1,982 2,177 2,411
Total Interest Income		 1,224 1,417 1,769 2,321 2,500 1,644 1,407 1,887 1,982 2,177 8,625
Investment Securities Interest Income		 1,224 1,417 1,769 - 2,500 1,644 1,407 2,878 7,325 9,762 8,625
Total Interest Expense		 154 182 340 699 822 200 24 0.00 0.00 0.00 6,214
Total Non-Interest Income		 3,633 3,727 3,946 4,338 4,395 4,658 5,082 4,874 4,792 6,113 5,675
Trust Fees by Commissions		 3,059 81 90 98 104 133 140 4,569 135 151 170
Other Service Charges		 312 304 214 179 190 239 288 231 4,622 5,921 246
Net Realized & Unrealized Capital Gains on Investments		 262 233 208 306 250 290 293 75 34 42 241
Other Non-Interest Income		 - 3,108 3,434 3,754 3,852 3,995 4,361 - - - 5,018
Provision for Credit Losses		 -43 -26 -28 -15 -15 125 -82 12 25 -3.00 -7.50
Total Non-Interest Expense		 3,281 3,471 3,769 4,017 4,144 4,348 4,536 4,983 5,284 5,634 5,754
Salaries and Employee Benefits		 1,729 1,834 2,054 2,164 2,214 2,335 2,011 2,685 2,727 2,889 2,571
Net Occupancy & Equipment Expense		 628 645 716 783 825 904 945 1,058 1,178 1,292 1,387
Other Operating Expenses		 924 992 1,000 1,070 1,104 1,110 1,580 1,240 1,379 1,453 1,796
Income Tax Expense		 491 485 435 401 452 418 465 430 358 628 603
Preferred Stock Dividends Declared		 23 23 50 46 46 56 42 42 42 42 42
Basic Earnings per Share		 $4.03 $4.35 $4.95 $6.68 $6.66 $5.48 $7.16 $6.16 $5.09 $9.80 $8.78
Weighted Average Basic Shares Outstanding		 232.28M 227.58M 228.26M 223.15M 214.53M 208.32M 208.08M 208.31M 207.25M 201.26M 191.36M
Diluted Earnings per Share		 $3.99 $4.32 $4.92 $6.64 $6.63 $5.46 $7.14 $6.14 $5.08 $9.77 $8.74
Weighted Average Diluted Shares Outstanding		 234.22M 229.15M 229.65M 224.49M 215.60M 209.01M 208.90M 208.87M 207.56M 201.87M 192.25M
Weighted Average Basic & Diluted Shares Outstanding		 235.80M 232M 232.20M 218.41M 209.25M 208.31M 207.90M 208.20M 204.84M 195.70M 185.83M
Cash Dividends to Common per Share		 - - $1.60 $1.94 $2.60 $2.80 $2.80 $2.90 $3.00 $3.00 $3.10

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 312 108 199 891 449 451 376 417 441 461 509
Consolidated Net Income / (Loss)		 328 113 215 896 465 455 392 421 458 466 526
Net Income / (Loss) Continuing Operations		 328 113 215 896 465 455 392 421 458 466 526
Total Pre-Tax Income 		434 146 291 1,174 601 594 521 565 620 634 701
Total Revenue		 1,727 1,545 1,647 2,716 1,969 1,960 1,940 1,998 2,025 2,123 2,206
Net Interest Income / (Expense)		 456 483 528 523 562 564 568 611 591 642 654
Total Interest Income		 1,935 2,200 528 2,507 2,530 2,280 2,141 2,213 2,144 2,127 2,234
Investment Securities Interest Income		 1,935 2,200 2,446 2,507 2,530 2,280 2,141 2,213 2,144 2,127 2,234
Total Interest Expense		 1,479 1,717 0.00 1,984 1,968 1,716 1,573 1,602 1,554 1,485 1,580
Total Non-Interest Income		 1,270 1,062 1,119 2,193 1,406 1,396 1,372 1,387 1,435 1,482 1,552
Trust Fees by Commissions		 31 4,395 1,181 34 36 4,771 39 40 42 50 52
Other Service Charges		 76 66 70 934 120 -1,074 60 66 70 50 70
Net Realized & Unrealized Capital Gains on Investments		 52 -121 -132 58 54 62 59 51 57 74 88
Other Non-Interest Income		 1,112 - - 1,166 1,197 - 1,214 1,231 1,266 1,307 1,341
Provision for Credit Losses		 14 11 -8.50 8.00 8.00 -11 1.00 17 -17 -8.00 -3.00
Total Non-Interest Expense		 1,278 1,389 1,365 1,534 1,359 1,376 1,418 1,417 1,423 1,497 1,508
Salaries and Employee Benefits		 558 969 728 665 584 912 754 615 625 687 822
Net Occupancy & Equipment Expense		 291 311 307 332 324 329 334 346 349 358 359
Other Operating Expenses		 429 109 330 536 452 136 329 456 448 453 326
Income Tax Expense		 107 33 76 278 136 139 129 144 162 168 175
Preferred Stock Dividends Declared		 16 4.70 16 4.70 16 4.70 16 4.70 16 4.70 16
Basic Earnings per Share		 $1.49 $0.53 $0.96 $4.35 $2.23 $2.26 $1.91 $2.14 $2.30 $2.43 $2.72
Weighted Average Basic Shares Outstanding		 207.02M 207.25M 204.63M 203.31M 199.94M 201.26M 195.19M 192.75M 190.05M 191.36M 185.50M
Diluted Earnings per Share		 $1.49 $0.52 $0.96 $4.34 $2.22 $2.25 $1.90 $2.13 $2.29 $2.42 $2.71
Weighted Average Diluted Shares Outstanding		 207.25M 207.56M 205.13M 203.74M 200.55M 201.87M 196.12M 193.37M 191.00M 192.25M 186.54M
Weighted Average Basic & Diluted Shares Outstanding		 207.04M 204.84M 204.59M 201.64M 198.22M 195.70M 194.54M 191.23M 189.12M 185.83M 185.05M
Cash Dividends to Common per Share		 $0.75 - $0.75 $0.75 $0.75 - $0.75 $0.75 $0.80 - $0.80

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 3,398 -1,087 -814 64 -122 -70 -1,333 1,597 137 -114 1,196
Net Cash From Operating Activities		 1,834 1,510 1,720 1,768 2,592 1,897 1,356 2,392 2,626 -486 5,534
Net Cash From Continuing Operating Activities		 1,845 1,510 1,720 1,768 2,592 1,897 1,356 2,392 2,626 -486 5,534
Net Income / (Loss) Continuing Operations		 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031 1,737
Consolidated Net Income / (Loss)		 974 1,033 1,199 1,556 1,492 1,209 1,545 1,336 1,107 2,031 1,737
Provision For Loan Losses		 -43 -26 -28 -15 -15 125 -82 12 25 -3.00 -7.50
Depreciation Expense		 90 89 101 461 459 500 516 554 635 717 779
Amortization Expense		 325 385 426 96 65 89 100 59 3.00 -35 -68
Non-Cash Adjustments to Reconcile Net Income		 -167 -185 -89 -74 30 1.20 -8.90 -166 101 -2.00 52
Changes in Operating Assets and Liabilities, net		 666 215 112 -258 561 -28 -714 598 755 -3,194 3,040
Net Cash From Investing Activities		 -6,900 -10,192 -14,022 4,327 -3,405 -29,923 -18,603 25,930 4,784 -2,564 -20,170
Net Cash From Continuing Investing Activities		 -6,900 -10,192 -14,022 4,327 -3,405 -29,923 -18,603 25,930 4,784 -2,564 -20,170
Purchase of Property, Leasehold Improvements and Equipment		 -434 -473 -473 -506 -600 -560 -515 -724 -676 -746 -774
Purchase of Investment Securities		 -20,303 -21,670 -35,140 -34,164 -31,686 -72,524 -85,346 -16,856 -38,590 -40,624 -54,309
Sale and/or Maturity of Investments		 14,992 15,344 21,505 30,354 27,931 43,383 68,060 43,284 43,733 38,530 37,089
Net Increase in Fed Funds Sold		 -550 -373 679 -113 129 5.00 0.00 -32 317 277 -2,176
Net Cash From Financing Activities		 8,534 7,537 11,253 -5,818 616 27,872 16,074 -26,437 -7,183 3,440 15,176
Net Cash From Continuing Financing Activities		 8,534 7,537 11,253 -5,818 616 27,872 16,074 -26,437 -7,183 3,440 15,176
Net Change in Deposits		 8,106 6,737 8,524 -6,163 4,264 32,138 17,886 -32,997 -8,478 6,331 16,809
Issuance of Debt		 2,313 0.00 1,318 2,360 498 -1,705 -427 5,956 941 -104 1,817
Repayment of Debt		 -231 1,067 -209 -314 -1,185 -509 -779 -500 0.00 0.00 -1,350
Repurchase of Common Equity		 -497 -411 -523 -924 -1,100 -300 -268 -35 -348 -938 -1,274
Payment of Dividends		 -348 -356 -407 -452 -576 -631 -625 -797 -663 -644 -633
Other Financing Activities, Net		 -808 6.70 2,550 -325 -1,677 -722 286 1,936 1,366 -1,206 -193
Effect of Exchange Rate Changes		 -71 59 235 -213 75 85 -160 -287 -90 -504 656
Cash Interest Paid		 162 182 329 670 846 227 31 822 5,286 7,610 6,224
Cash Income Taxes Paid		 390 754 441 494 437 328 371 460 363 269 427

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 58 -164 517 1,258 305 -2,195 -309 2,055 -1,077 527 -57
Net Cash From Operating Activities		 87 2,803 -1,453 2,990 611 -2,635 2,750 1,870 526 388 -320
Net Cash From Continuing Operating Activities		 87 2,803 -1,453 2,990 611 -2,635 2,750 1,870 526 388 -320
Net Income / (Loss) Continuing Operations		 328 113 215 896 465 455 392 421 458 466 526
Consolidated Net Income / (Loss)		 328 113 215 896 465 455 392 421 458 466 526
Provision For Loan Losses		 14 11 -8.50 8.00 8.00 -11 1.00 17 -17 -8.00 -3.00
Depreciation Expense		 158 169 170 181 183 183 191 196 196 197 197
Amortization Expense		 1.50 -2.80 -7.70 -9.40 -7.50 -11 -14 -20 -17 -17 -20
Non-Cash Adjustments to Reconcile Net Income		 - 124 -19 -0.10 - 17 -138 - - 190 -7.20
Changes in Operating Assets and Liabilities, net		 -414 2,389 -1,803 1,915 -37 -3,269 2,318 1,256 -93 -440 -1,013
Net Cash From Investing Activities		 10,079 -4,863 -4,793 951 3,487 -2,208 -10,285 -3,621 808 -7,071 3,486
Net Cash From Continuing Investing Activities		 10,079 -4,863 -4,793 951 3,487 -2,208 -10,285 -3,621 808 -7,071 3,486
Purchase of Property, Leasehold Improvements and Equipment		 -165 -210 -128 -182 -209 -227 -184 -218 -168 -205 -220
Purchase of Investment Securities		 97 -15,204 -17,163 -5,857 -5,919 -11,162 -19,363 -12,465 -8,442 -14,039 -3,536
Sale and/or Maturity of Investments		 9,861 10,537 12,154 7,063 9,765 8,914 8,933 9,817 10,331 7,705 6,242
Net Increase in Fed Funds Sold		 - 64 252 - - -25 328 -787 -930 -787 1,000
Net Cash From Financing Activities		 -9,962 1,708 6,936 -2,638 -4,011 3,152 6,824 3,516 -2,302 7,137 -3,123
Net Cash From Continuing Financing Activities		 -9,962 1,708 6,936 -2,638 -4,011 3,152 6,824 3,516 -2,302 7,137 -3,123
Net Change in Deposits		 -2,036 4,611 7,983 -2,392 -3,479 4,218 7,172 3,555 -798 6,880 -2,535
Issuance of Debt		 -2,788 -1,059 -31 240 -209 -104 8.20 -65 51 1,823 663
Repayment of Debt		 - 717 - - - -250 0.00 - - - -600
Repurchase of Common Equity		 -1.10 -146 -132 -251 -301 -254 -287 -339 -277 -370 -359
Payment of Dividends		 -172 -159 -170 -157 -165 -152 -162 -149 -168 -154 -165
Other Financing Activities, Net		 -4,248 -2,256 -715 -79 -106 -307 94 514 -1,109 309 -127
Effect of Exchange Rate Changes		 -145 188 -173 -45 217 -504 403 290 -109 72 -100
Cash Interest Paid		 - - 1,857 - - - 1,524 1,620 1,528 1,552 1,551
Cash Income Taxes Paid		 101 151 39 66 80 83 52 193 67 115 98

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 116,750 123,927 138,591 132,213 136,828 170,004 183,890 155,037 150,783 155,508 177,133
Cash and Due from Banks		 6,419 5,332 4,518 4,582 4,459 4,390 3,057 4,654 4,792 4,677 5,873
Federal Funds Sold		 1,614 1,974 1,324 1,165 5.00 - 0.00 32 0.00 451 2,654
Interest Bearing Deposits at Other Banks		 6,872 4,801 5,612 4,264 4,877 4,373 1,949 1,941 1,939 1,945 1,729
Trading Account Securities		 37,567 44,501 46,792 51,243 51,869 61,410 62,262 52,902 50,096 51,298 57,466
Loans and Leases, Net of Allowance		 0.00 0.00 32,592 32,490 31,410 33,760 40,481 42,893 47,617 0.00 41,948
Loans and Leases		 - - 32,592 32,490 31,410 33,760 40,481 42,893 47,617 - 41,948
Premises and Equipment, Net		 447 467 465 428 483 515 489 501 502 490 465
Goodwill		 526 519 606 669 697 707 706 691 702 695 713
Other Assets		 63,304 66,333 46,682 37,371 43,029 64,850 74,946 51,423 45,135 52,562 66,284
Total Liabilities & Shareholders' Equity		 116,750 123,927 138,591 132,213 136,828 170,004 183,890 155,037 150,783 155,508 177,133
Total Liabilities		 108,044 114,157 128,374 121,704 125,737 158,316 171,873 143,777 138,885 142,720 164,175
Non-Interest Bearing Deposits		 30,155 30,163 28,591 22,728 26,292 43,111 48,316 25,340 22,831 24,354 27,349
Interest Bearing Deposits		 66,714 71,489 83,800 81,769 82,829 100,767 111,613 98,592 93,333 98,129 115,449
Federal Funds Purchased and Securities Sold		 352 205 2,286 2,594 553 260 0.20 1,897 3,045 2,160 2,141
Short-Term Debt		 547 474 6,885 8,070 490 40 4,116 567 785 462 292
Long-Term Debt		 6,924 7,937 2,947 3,124 10,466 8,323 3,651 12,383 13,406 13,372 13,994
Other Long-Term Liabilities		 3,353 3,889 3,866 3,420 5,108 5,814 4,178 4,998 5,485 4,244 4,950
Total Equity & Noncontrolling Interests		 8,706 9,770 10,216 10,508 11,091 11,688 12,017 11,260 11,898 12,788 12,958
Total Preferred & Common Equity		 8,706 9,770 10,216 10,508 11,091 11,688 12,017 11,260 11,898 12,788 12,958
Preferred Stock		 389 882 - - 1,273 885 885 885 885 885 885
Total Common Equity		 8,317 8,888 10,216 10,508 9,818 10,803 11,132 10,375 11,013 11,904 12,073
Common Stock		 1,481 1,444 1,456 1,477 1,422 1,372 1,348 1,392 1,418 1,434 1,448
Retained Earnings		 8,243 8,908 9,685 10,777 11,657 12,208 13,117 13,799 14,234 15,615 16,709
Treasury Stock		 -1,034 -1,094 -1,392 -2,174 -3,066 -3,205 -3,298 -3,247 -3,501 -4,331 -5,493
Accumulated Other Comprehensive Income / (Loss)		 -373 -370 -414 -454 -195 428 -36 -1,569 -1,138 -814 -591

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 156,753 146,331 150,783 156,111 156,797 155,754 155,508 165,071 171,884 170,263 174,574
Cash and Due from Banks		 4,898 4,956 4,792 5,309 6,567 6,872 4,677 4,369 6,423 5,346 5,816
Federal Funds Sold		 0.00 0.00 0.00 - - - 25 124 922 1,856 1,679
Interest Bearing Deposits at Other Banks		 1,479 2,123 1,939 1,372 1,381 1,607 1,945 1,645 2,412 1,990 1,856
Trading Account Securities		 51,500 24,727 50,096 49,637 50,520 52,002 51,724 51,339 53,651 55,864 61,199
Loans and Leases, Net of Allowance		 43,547 68,497 47,617 47,343 42,135 41,950 43,391 40,833 43,323 42,949 42,506
Loans and Leases		 43,547 68,497 47,617 47,343 42,135 41,950 43,391 40,833 43,323 42,949 42,506
Premises and Equipment, Net		 474 465 502 488 481 480 490 477 468 457 448
Goodwill		 699 693 702 698 697 708 695 701 715 713 710
Other Assets		 54,157 44,871 45,135 51,265 55,016 52,135 52,562 65,583 63,969 61,087 60,362
Total Liabilities & Shareholders' Equity		 156,753 146,331 150,783 156,111 156,797 155,754 155,508 165,071 171,884 170,263 174,574
Total Liabilities		 145,117 134,483 138,885 144,009 144,141 143,005 142,720 152,193 159,017 157,307 161,587
Non-Interest Bearing Deposits		 21,326 20,938 22,831 25,327 20,926 22,175 24,354 21,905 25,139 25,892 29,299
Interest Bearing Deposits		 91,877 89,228 93,333 98,615 102,065 99,009 98,129 109,120 111,915 109,909 110,399
Federal Funds Purchased and Securities Sold		 9,345 5,539 3,045 2,601 2,406 2,762 2,160 2,378 2,389 1,752 1,974
Short-Term Debt		 13,370 546 785 7,038 629 171 6,983 6,870 7,374 372 331
Long-Term Debt		 4,791 13,621 13,406 6,813 13,641 13,801 6,851 6,895 6,925 13,522 14,067
Other Long-Term Liabilities		 4,408 4,612 5,485 3,617 4,474 5,088 4,244 5,024 5,276 5,861 5,517
Total Equity & Noncontrolling Interests		 11,636 11,847 11,898 12,102 12,656 12,749 12,788 12,879 12,867 12,956 12,987
Total Preferred & Common Equity		 11,636 11,847 11,898 12,102 12,656 12,749 12,788 12,879 12,867 12,956 12,987
Preferred Stock		 885 885 885 885 885 885 885 885 885 885 885
Total Common Equity		 10,751 10,962 11,013 11,217 11,771 11,864 11,904 11,994 11,982 12,071 12,102
Common Stock		 1,389 1,402 1,418 1,392 1,406 1,417 1,434 1,406 1,419 1,433 1,412
Retained Earnings		 14,128 14,282 14,234 14,279 15,016 15,313 15,615 15,842 16,113 16,400 17,068
Treasury Stock		 -3,360 -3,358 -3,501 -3,537 -3,786 -4,086 -4,331 -4,515 -4,851 -5,126 -5,741
Accumulated Other Comprehensive Income / (Loss)		 -1,406 -1,363 -1,138 -918 -865 -780 -814 -740 -699 -635 -637

Annual Metrics And Ratios for Northern Trust

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.03 $4.35 $4.95 $6.68 $6.66 $5.48 $7.16 $6.16 $5.09 $9.80 $8.78
Adjusted Weighted Average Basic Shares Outstanding		 232.28M 227.58M 228.26M 223.15M 214.53M 208.32M 208.08M 208.31M 207.25M 201.26M 191.36M
Adjusted Diluted Earnings per Share		 $3.99 $4.32 $4.92 $6.64 $6.63 $5.46 $7.14 $6.14 $5.08 $9.77 $8.74
Adjusted Weighted Average Diluted Shares Outstanding		 234.22M 229.15M 229.65M 224.49M 215.60M 209.01M 208.90M 208.87M 207.56M 201.87M 192.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $6.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 228.98M 228.79M 226.33M 218.41M 209.25M 208.31M 207.90M 208.20M 204.84M 195.70M 185.83M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Northern Trust

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 185,047,258.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 185,047,258.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.84
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -1.61% 1.73% -5.61% 54.54% 14.02% 26.81% 17.80% -26.43% 2.89% - 13.69%
EBITDA Growth		 -13.07% -9.90% -25.20% 127.45% 30.91% 145.71% 54.06% -44.93% 2.76% - 25.75%
EBIT Growth		 -17.20% -23.42% -34.55% 166.30% 38.41% 307.54% 79.42% -51.87% 3.06% - 34.37%
NOPAT Growth		 -16.97% -27.36% -35.83% 170.07% 41.82% 302.65% 82.58% -52.99% -1.57% - 34.06%
Net Income Growth		 -16.97% -27.36% -35.83% 170.07% 41.82% 302.65% 82.58% -52.99% -1.57% - 34.06%
EPS Growth		 -17.22% -26.76% -36.42% 178.21% 48.99% 332.69% 97.92% -50.92% 3.15% - 42.63%
Operating Cash Flow Growth		 109.68% -32.49% -780.90% 3,108.35% 604.84% -193.99% 289.30% -37.48% -13.96% - -111.64%
Free Cash Flow Firm Growth		 -808.87% 58.64% 126.65% 138.91% 92.33% 95.56% -112.39% -95.19% 235.90% - 28.16%
Invested Capital Growth		 15.51% 7.76% -7.83% -9.64% 2.72% 2.05% 2.67% 0.89% 0.48% - 2.78%
Revenue Q/Q Growth		 -1.74% -10.50% 6.57% 64.90% -27.51% -0.45% -1.00% 2.98% 1.38% - 3.89%
EBITDA Q/Q Growth		 0.36% -47.41% 45.26% 196.71% -42.24% -1.30% -8.92% 6.06% 7.78% - 7.86%
EBIT Q/Q Growth		 -1.45% -66.43% 99.31% 303.85% -48.78% -1.15% -12.25% 8.32% 9.68% - 10.54%
NOPAT Q/Q Growth		 -1.21% -65.50% 89.83% 317.37% -48.12% -2.04% -13.92% 7.47% 8.62% - 12.77%
Net Income Q/Q Growth		 -1.21% -65.50% 89.83% 317.37% -48.12% -2.04% -13.92% 7.47% 8.62% - 12.77%
EPS Q/Q Growth		 -4.49% -65.10% 84.62% 352.08% -48.85% 1.35% -15.56% 12.11% 7.51% - 11.98%
Operating Cash Flow Q/Q Growth		 187.22% 3,133.22% -151.82% 305.86% -79.56% -531.16% 204.36% -32.01% -71.87% - -182.39%
Free Cash Flow Firm Q/Q Growth		 67.31% 44.19% 236.95% 55.75% -106.44% 67.68% -282.27% 160.46% 81.95% - -38.10%
Invested Capital Q/Q Growth		 -12.70% 0.29% -0.52% 3.75% -0.76% -0.37% 0.08% 1.96% -1.17% - 0.51%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 34.36% 20.19% 27.52% 49.52% 39.46% 39.12% 35.99% 37.06% 39.40% - 39.81%
EBIT Margin		 25.15% 9.44% 17.65% 43.22% 30.54% 30.32% 26.88% 28.27% 30.59% - 31.76%
Profit (Net Income) Margin		 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09% 22.59% - 23.83%
Tax Burden Percent		 75.48% 77.57% 73.88% 76.35% 77.34% 76.64% 75.18% 74.59% 73.87% - 75.01%
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		 24.52% 22.43% 26.12% 23.65% 22.66% 23.36% 24.82% 25.41% 26.13% - 24.99%
Return on Invested Capital (ROIC)		 5.28% 1.97% 3.22% 8.88% 7.05% 7.31% 6.60% 6.13% 6.68% - 7.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.28% 1.97% 3.22% 8.88% 7.05% 7.31% 6.60% 6.13% 6.68% - 7.37%
Return on Net Nonoperating Assets (RNNOA)		 5.92% 2.31% 4.13% 11.86% 8.07% 8.30% 7.29% 6.87% 7.24% - 8.02%
Return on Equity (ROE)		 11.20% 4.28% 7.35% 20.74% 15.13% 15.61% 13.89% 13.00% 13.93% - 15.39%
Cash Return on Invested Capital (CROIC)		 -9.65% -3.07% 11.80% 15.59% 3.72% 5.68% 5.77% 5.52% 5.97% - 4.18%
Operating Return on Assets (OROA)		 1.11% 0.42% 0.77% 2.10% 1.59% 1.64% 1.44% 1.35% 1.49% - 1.56%
Return on Assets (ROA)		 0.84% 0.32% 0.57% 1.61% 1.23% 1.26% 1.08% 1.01% 1.10% - 1.17%
Return on Common Equity (ROCE)		 10.33% 3.95% 6.80% 19.23% 14.04% 14.49% 12.90% 12.10% 12.97% - 14.33%
Return on Equity Simple (ROE_SIMPLE)		 9.71% 0.00% 8.16% 12.26% 13.25% 0.00% 17.15% 13.47% 13.32% - 14.40%
Net Operating Profit after Tax (NOPAT)		 328 113 215 896 465 455 392 421 458 - 526
NOPAT Margin		 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09% 22.59% - 23.83%
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		 49.19% 82.81% 62.85% 36.73% 46.12% 63.30% 50.45% 48.10% 48.11% - 53.57%
Operating Expenses to Revenue		 74.03% 89.85% 82.87% 56.49% 69.06% 70.21% 73.07% 70.90% 70.25% - 68.37%
Earnings before Interest and Taxes (EBIT)		 434 146 291 1,174 601 594 521 565 620 - 701
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 593 312 453 1,345 777 767 698 741 798 - 878
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.27 1.54 1.65 1.49 1.58 1.79 1.71 2.21 2.32 - 2.40
Price to Tangible Book Value (P/TBV)		 1.36 1.65 1.76 1.58 1.68 1.91 1.82 2.35 2.47 - 2.55
Price to Revenue (P/Rev)		 2.07 2.51 2.78 2.29 2.38 2.58 2.40 3.36 3.54 - 3.48
Price to Earnings (P/E)		 12.60 15.96 19.60 11.59 11.39 10.74 9.49 15.62 16.65 - 15.91
Dividend Yield		 4.48% 3.68% 3.37% 3.57% 3.33% 2.93% 3.04% 2.37% 2.27% - 2.79%
Earnings Yield		 7.93% 6.27% 5.10% 8.63% 8.78% 9.31% 10.54% 6.40% 6.00% - 6.29%
Enterprise Value to Invested Capital (EV/IC)		 0.84 0.97 1.02 0.92 0.94 1.11 1.09 1.17 1.25 - 1.28
Enterprise Value to Revenue (EV/Rev)		 3.25 3.74 3.98 3.24 3.19 3.55 3.39 4.05 4.25 - 4.19
Enterprise Value to EBITDA (EV/EBITDA)		 10.27 12.06 13.64 9.14 8.71 8.81 8.11 10.68 11.20 - 10.84
Enterprise Value to EBIT (EV/EBIT)		 14.54 17.31 20.27 12.09 11.37 11.07 10.06 13.96 14.63 - 13.90
Enterprise Value to NOPAT (EV/NOPAT)		 19.08 22.89 26.93 15.92 14.89 14.49 13.16 18.37 19.49 - 18.72
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.52 9.65 19.87 5.58 5.08 0.00 7.82 12.27 13.40 - 14.21
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 8.33 5.59 25.62 19.66 19.17 21.33 21.04 - 31.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.20 1.19 1.14 1.13 1.10 1.08 1.07 1.11 1.07 - 1.11
Long-Term Debt to Equity		 1.15 1.13 0.56 1.08 1.08 0.54 0.54 0.54 1.04 - 1.08
Financial Leverage		 1.12 1.17 1.28 1.34 1.14 1.14 1.11 1.12 1.08 - 1.09
Leverage Ratio		 13.38 13.21 12.97 12.91 12.28 12.41 12.86 12.88 12.68 - 13.13
Compound Leverage Factor		 13.38 13.21 12.97 12.91 12.28 12.41 12.86 12.88 12.68 - 13.13
Debt to Total Capital		 54.46% 54.39% 53.37% 53.00% 52.29% 51.96% 51.66% 52.64% 51.74% - 52.57%
Short-Term Debt to Total Capital		 2.10% 3.01% 27.12% 2.34% 0.64% 26.23% 25.79% 27.15% 1.38% - 1.21%
Long-Term Debt to Total Capital		 52.36% 51.39% 26.25% 50.66% 51.65% 25.73% 25.88% 25.49% 50.36% - 51.37%
Preferred Equity to Total Capital		 3.40% 3.39% 3.41% 3.29% 3.31% 3.32% 3.32% 3.26% 3.30% - 3.23%
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		 42.14% 42.21% 43.22% 43.72% 44.40% 44.71% 45.01% 44.11% 44.96% - 44.19%
Debt to EBITDA		 6.63 6.75 7.10 5.28 4.84 4.14 3.84 4.80 4.63 - 4.46
Net Debt to EBITDA		 3.32 3.55 3.68 2.34 1.90 2.15 2.13 1.52 1.57 - 1.56
Long-Term Debt to EBITDA		 6.37 6.38 3.49 5.05 4.78 2.05 1.92 2.32 4.50 - 4.35
Debt to NOPAT		 12.32 12.82 14.03 9.20 8.27 6.81 6.23 8.25 8.05 - 7.70
Net Debt to NOPAT		 6.16 6.74 7.26 4.07 3.25 3.54 3.45 2.62 2.72 - 2.70
Long-Term Debt to NOPAT		 11.84 12.11 6.90 8.79 8.17 3.37 3.12 3.99 7.83 - 7.52
Noncontrolling Interest Sharing Ratio		 7.74% 7.64% 7.47% 7.29% 7.20% 7.17% 7.08% 6.93% 6.89% - 6.84%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,165 -1,766 2,419 3,767 -243 -78 -300 181 330 - -215
Operating Cash Flow to CapEx		 52.55% 1,332.95% -1,136.62% 1,640.32% 292.53% -1,163.27% 1,498.53% 859.54% 312.42% - -145.79%
Free Cash Flow to Firm to Interest Expense		 -2.14 -1.03 1.26 1.90 -0.12 -0.05 -0.19 0.11 0.21 - -0.14
Operating Cash Flow to Interest Expense		 0.06 1.63 -0.76 1.51 0.31 -1.54 1.75 1.17 0.34 - -0.20
Operating Cash Flow Less CapEx to Interest Expense		 -0.05 1.51 -0.82 1.42 0.20 -1.67 1.63 1.03 0.23 - -0.34
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.05 - 0.05
Fixed Asset Turnover		 14.44 13.51 13.77 15.99 16.66 16.71 17.78 16.58 16.90 - 18.06
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 26,014 26,089 25,952 26,926 26,721 26,622 26,644 27,166 26,849 - 27,384
Invested Capital Turnover		 0.28 0.27 0.25 0.27 0.30 0.31 0.33 0.29 0.30 - 0.31
Increase / (Decrease) in Invested Capital		 3,493 1,879 -2,204 -2,871 708 534 692 240 128 - 741
Enterprise Value (EV)		 21,940 25,350 26,587 24,710 25,142 29,435 29,072 31,852 33,638 - 35,020
Market Capitalization		 13,967 17,005 18,532 17,503 18,764 21,363 20,560 26,425 28,053 - 29,089
Book Value per Share		 $52.96 $53.19 $54.82 $57.53 $58.84 $60.05 $61.29 $61.59 $63.12 - $65.13
Tangible Book Value per Share		 $49.61 $49.80 $51.41 $54.12 $55.33 $56.55 $57.71 $57.92 $59.39 - $61.31
Total Capital		 26,014 26,089 25,952 26,926 26,721 26,622 26,644 27,166 26,849 - 27,384
Total Debt		 14,166 14,191 13,850 14,270 13,972 13,834 13,765 14,299 13,893 - 14,397
Total Long-Term Debt		 13,621 13,406 6,813 13,641 13,801 6,851 6,895 6,925 13,522 - 14,067
Net Debt		 7,088 7,460 7,169 6,322 5,494 7,187 7,627 4,542 4,701 - 5,046
Capital Expenditures (CapEx)		 165 210 128 182 209 227 184 218 168 - 220
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)		 14,166 14,191 13,850 14,270 13,972 13,834 13,765 14,299 13,893 - 14,397
Total Depreciation and Amortization (D&A)		 159 166 163 171 176 172 177 176 179 - 177
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.49 $0.53 $0.96 $4.35 $2.23 $2.26 $1.91 $2.14 $2.30 $2.43 $2.72
Adjusted Weighted Average Basic Shares Outstanding		 207.02M 207.25M 204.63M 203.31M 199.94M 201.26M 195.19M 192.75M 190.05M 191.36M 185.50M
Adjusted Diluted Earnings per Share		 $1.49 $0.52 $0.96 $4.34 $2.22 $2.25 $1.90 $2.13 $2.29 $2.42 $2.71
Adjusted Weighted Average Diluted Shares Outstanding		 207.25M 207.56M 205.13M 203.74M 200.55M 201.87M 196.12M 193.37M 191.00M 192.25M 186.54M
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		 207.04M 204.84M 204.59M 201.64M 198.22M 195.70M 194.54M 191.23M 189.12M 185.83M 185.05M
Normalized Net Operating Profit after Tax (NOPAT)		 328 113 215 896 465 455 392 421 458 - 526
Normalized NOPAT Margin		 18.99% 7.32% 13.04% 33.00% 23.62% 23.24% 20.21% 21.09% 22.59% - 23.83%
Pre Tax Income Margin		 25.15% 9.44% 17.65% 43.22% 30.54% 30.32% 26.88% 28.27% 30.59% - 31.76%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.29 0.08 0.15 0.59 0.31 0.35 0.33 0.35 0.40 - 0.44
NOPAT to Interest Expense		 0.22 0.07 0.11 0.45 0.24 0.27 0.25 0.26 0.29 - 0.33
EBIT Less CapEx to Interest Expense		 0.18 -0.04 0.08 0.50 0.20 0.21 0.21 0.22 0.29 - 0.30
NOPAT Less CapEx to Interest Expense		 0.11 -0.06 0.05 0.36 0.13 0.13 0.13 0.13 0.19 - 0.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 72.88% 59.90% 66.88% 42.33% 38.53% 31.71% 28.83% 36.27% 36.58% - 33.99%
Augmented Payout Ratio		 90.39% 91.29% 105.23% 76.50% 87.70% 77.88% 78.32% 104.42% 103.61% - 105.91%

Financials Breakdown Chart

Key Financial Trends

The following bullets summarize the most important trends in Northern Trust's trailing four years of quarterly results, focusing on the four most recent quarters. Items are listed with positives first, then neutral, then negatives.

  • Net Interest Income grew to 641,600,000 in Q4 2025, up from 563,800,000 in Q4 2024.
  • Total Revenue increased to 2,123,100,000 in Q4 2025 from 1,959,600,000 in Q4 2024.
  • Net Income Attributable to Common Shareholders rose to 461,300,000 in Q4 2025, up from 441,400,000 in Q4 2024.
  • Basic and Diluted Earnings Per Share improved to 2.43 and 2.42 in Q4 2025, up from 2.30 and 2.29 in Q4 2024.
  • Cash flow remained robust, with Net Cash From Continuing Operating Activities of 388,400,000 and a net increase in cash of 526,900,000 in Q4 2025.
  • Profitability margins softened slightly year over year, with net income margin around 21.9% in Q4 2025 versus about 23.2% in Q4 2024.
  • Total Non-Interest Expense rose modestly in Q4 2025 versus prior-year levels, contributing to a higher quarterly expense base.
  • Total assets expanded meaningfully over the period, rising to roughly 170.3 billion by Q3 2025 from about 155.5 billion in Q3 2024, reflecting balance sheet growth.
  • Income tax expense increased to 167,800,000 in Q4 2025 from 138,800,000 in Q4 2024, putting some downward pressure on quarterly earnings.
  • Net profitability faced some margin pressure as the expense base grew and taxes rose, despite revenue gains.
05/15/26 08:15 AM ETAI Generated. May Contain Errors.

Northern Trust Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Northern Trust's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Northern Trust's net income appears to be on an upward trend, with a most recent value of $1.74 billion in 2025, rising from $973.80 million in 2015. The previous period was $2.03 billion in 2024.

Over the last 10 years, Northern Trust's total revenue changed from $4.70 billion in 2015 to $8.09 billion in 2025, a change of 72.0%.

Northern Trust's total liabilities were at $164.17 billion at the end of 2025, a 15.0% increase from 2024, and a 52.0% increase since 2015.

In the past 10 years, Northern Trust's cash and equivalents has ranged from $3.06 billion in 2021 to $6.42 billion in 2015, and is currently $5.87 billion as of their latest financial filing in 2025.


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Financial statements for NASDAQ:NTRSO last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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