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Financials · NTRS

Northern Trust Corporation (NTRS) financials

For the twelve months ended Sep 30, 2026, Northern Trust Corporation reported $9.32B of revenue and $2.43B of net income.

Revenue, TTM
$9.32B
Revenue growth, YoY
+17.6%
Net income, TTM
$2.43B
Net income growth, YoY
+40.6%
Net margin
26.0%
Free cash flow, TTM
$1.74B
Cash
$6.44B
P/E
13.26
P/S
3.45
Market cap
$32.18B
Annual revenue$8.09B
FY2016FY2025
Annual net income$1.74B
FY2016FY2025
Annual free cash flow$5.46B
FY2016FY2025

NTRS revenue and earnings growth

NTRS revenueQ3 2026$2.29B

Quarter YoY
+13.3%
QoQ
-15.0%
FY YoY
-2.5%
5Y CAGR
+5.8%
10Y CAGR
+5.6%

NTRS revenue was $2.29B in fiscal Q3 2026 (ended Sep 30, 2026), up 13.3% from a year earlier and down 15.0% from the prior quarter. For the full fiscal 2025 it was $8.09B, down 2.5% from fiscal 2024. Compound annual growth was +5.8% over 5 years and +5.6% over 10 years. It rose in 9 of the last 10 fiscal years.

NTRS net incomeQ3 2026$642.90M

Quarter YoY
+40.5%
QoQ
-18.8%
FY YoY
-14.5%
5Y CAGR
+7.5%
10Y CAGR
+6.0%

NTRS net income was $642.90M in fiscal Q3 2026 (ended Sep 30, 2026), up 40.5% from a year earlier and down 18.8% from the prior quarter. For the full fiscal 2025 it was $1.74B, down 14.5% from fiscal 2024. Compound annual growth was +7.5% over 5 years and +6.0% over 10 years. It rose in 5 of the last 10 fiscal years.

NTRS EPSQ1 2026$2.71

Quarter YoY
+42.6%
QoQ
+12.0%
FY YoY
-10.5%
5Y CAGR
+9.9%
10Y CAGR
+8.2%

NTRS diluted EPS was $2.71 in fiscal Q1 2026 (ended Mar 31, 2026), up 42.6% from a year earlier and up 12.0% from the prior quarter. For the full fiscal 2025 it was $8.74, down 10.5% from fiscal 2024. Compound annual growth was +9.9% over 5 years and +8.2% over 10 years.

NTRS free cash flowQ3 2026$1.80B

Quarter YoY
+253.9%
5Y CAGR
+25.4%
10Y CAGR
+12.1%

NTRS free cash flow was $1.80B in fiscal Q3 2026 (ended Sep 30, 2026), up 253.9% from a year earlier. For the full fiscal 2025 it was $5.46B, compared with -$587.50M in fiscal 2024. Compound annual growth was +25.4% over 5 years and +12.1% over 10 years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$8.09B$8.29B$6.77B$6.76B$6.46B$6.10B$6.07B$5.96B$5.38B$4.96B
Interest expense--$5.34B$990.50M$23.80M$200.30M$822.00M$698.70M$340.20M$182.00M
Pre-tax income$2.34B$2.66B$1.46B$1.77B$2.01B$1.63B$1.94B$1.96B$1.63B$1.52B
Income tax$602.60M$628.40M$357.50M$430.30M$464.80M$418.30M$451.90M$401.40M$434.90M$484.60M
Net income$1.74B$2.03B$1.11B$1.34B$1.55B$1.21B$1.49B$1.56B$1.20B$1.03B
EPS, basic$8.78$9.80$5.09$6.16$7.16$5.48$6.66$6.68$4.95$4.35
EPS, diluted$8.74$9.77$5.08$6.14$7.14$5.46$6.63$6.64$4.92$4.32
Diluted shares192.2M201.9M207.6M208.9M208.9M209.0M215.6M224.5M229.7M229.2M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$5.87B$4.68B$4.79B$4.65B$3.06B$4.39B$4.46B$4.58B$4.52B$5.33B
Goodwill$712.90M$694.90M$702.30M$691.30M$706.20M$707.20M$696.80M$669.30M$605.60M$519.40M
Total assets$177.13B$155.51B$150.78B$155.04B$183.89B$170.00B$136.83B$132.21B$138.59B$123.93B
Total liabilities$164.17B$142.72B$138.89B$143.78B$171.87B$158.32B$125.74B$121.70B$128.37B$114.16B
Shareholders' equity$12.96B$12.79B$11.90B$11.26B$12.02B$11.69B$11.08B$10.51B$10.22B$9.77B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$5.53B-$486.00M$2.63B$2.39B$1.36B$1.90B$2.59B$1.77B$1.72B$1.51B
Capital expenditures$74.00M$101.50M$116.50M$128.60M$95.50M$135.80M$158.00M$97.60M$91.60M$111.30M
Free cash flow$5.46B-$587.50M$2.51B$2.26B$1.26B$1.76B$2.43B$1.67B$1.63B$1.40B
Investing cash flow-$20.17B-$2.56B$4.78B$25.93B-$18.60B-$29.92B-$3.40B$4.33B-$14.02B-$10.19B
Financing cash flow$15.18B$3.44B-$7.18B-$26.44B$16.07B$27.87B$615.90M-$5.82B$11.25B$7.54B
Dividends paid$591.60M$602.30M$621.50M$750.20M$583.30M$584.60M$529.70M$405.40M$356.80M$333.00M
Share repurchases$1.27B$937.80M$347.50M$35.40M$267.60M$299.80M$1.10B$924.30M$523.10M$411.10M
Depreciation and amortization$779.10M$716.80M$634.60M$553.60M$515.60M$500.30M$458.90M$460.90M--

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-2.5%22.4%0.2%4.6%6.0%0.5%1.9%10.9%8.3%5.5%
Net income growth, YoY-14.5%83.4%-17.1%-13.5%27.8%-19.0%-4.1%29.8%16.1%6.0%
EPS growth, YoY-10.5%92.3%-17.3%-14.0%30.8%-17.6%-0.2%35.0%13.9%8.3%
Net margin21.5%24.5%16.3%19.8%23.9%19.8%24.6%26.1%22.3%20.8%
Free cash flow margin67.5%-7.1%37.0%33.5%19.5%28.9%40.1%28.0%30.3%28.2%
Return on equity13.4%15.9%9.3%11.9%12.9%10.3%13.5%14.8%11.7%10.6%
Return on assets1.0%1.3%0.7%0.9%0.8%0.7%1.1%1.2%0.9%0.8%

Source: XBRL data Northern Trust Corporation files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NTRS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
NTRS$9.32B+17.6%$2.43B26.0%$32.18B
MS$80.16B+16.2%$20.45B25.5%$296.05B
GS$69.70B+18.7%$22.17B31.8%$263.51B
BLK$28.54B+24.7%$6.91B24.2%$187.87B
STT$15.52B+13.3%$3.69B23.8%$47.26B

NTRS FAQ

7 questions
  • What is NTRS revenue?
    Northern Trust Corporation (NTRS) reported $9.32B of revenue for the twelve months ended Sep 30, 2026. That is up 17.6% from the year before. Revenue for fiscal 2025 was $8.09B.
  • Is NTRS profitable?
    Yes. Northern Trust Corporation earned $2.43B in net income for the twelve months ended Sep 30, 2026, a net margin of 26.0%.
  • How much cash and debt does NTRS have?
    Northern Trust Corporation reported $6.44B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is NTRS revenue growing?
    Northern Trust Corporation's revenue changed -2.5% in fiscal 2025, to $8.09B. Its compound annual growth rate was +5.8% over 5 years and +5.6% over 10 years.
  • What is NTRS free cash flow?
    Northern Trust Corporation generated $1.74B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.83B less capital expenditures.
  • When did NTRS last report financial results?
    The latest statements here come from Northern Trust Corporation's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this NTRS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Northern Trust Corporation files with the SEC. It is provided for information only and is not investment advice.