NASDAQ · Financial Statements

Northern Trust Corporation (NTRS) Financial Statements

$183.55 NASDAQ: NTRS Market Cap $33.97B

Northern Trust Corporation most recently reported annual revenue of $14.3B, net profit of $1.7B. Revenue grew at an average annual rate of 17.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Northern Trust Corporation: Revenue rose from $5.0B in 2016 to $14.3B in 2025, a change of +184.8% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 30.2% to 16.3%, a shift of -13.9 percentage points; the most recent year shows net profit of $1.7B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$5.0B$5.7B$6.7B$6.9B$6.3B$6.5B$7.8B$12.1B$15.9B$14.3B
Operating Expenses$3.5B$4.1B$4.7B$5.0B$4.7B$4.5B$6.0B$10.7B$13.2B$12.0B
Operating Profit$1.5B$1.6B$2.0B$1.9B$1.6B$2.0B$1.8B$1.5B$2.7B$2.3B
Operating Margin30.2%28.6%29.4%28.2%25.8%31.0%22.8%12.1%16.8%16.3%
Other Income$0$0$0$0$0$0$0$0$0$8.0M
Interest$182.0M$340.0M$699.0M$822.0M$200.0M$24.0M$991.0M$5.3B$7.6B$6.2B
Depreciation$373.0M$422.0M$461.0M$459.0M$500.0M$516.0M$554.0M$635.0M$717.0M$883.0M
Profit Before Tax$1.5B$1.6B$2.0B$1.9B$1.6B$2.0B$1.8B$1.5B$2.7B$2.3B
Tax$31.9M$26.6M$20.5M$23.2M$25.7M$23.1M$24.4M$24.4M$23.6M$25.8M
Net Profit$1.0B$1.2B$1.6B$1.5B$1.2B$1.5B$1.3B$1.1B$2.0B$1.7B
EPS$4.32$4.92$6.64$6.63$5.46$7.14$6.14$5.08$9.77$8.74
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$3.0B$3.2B$3.3B$3.6B$4.7B$3.9B$3.7B$3.5B$3.6B$3.6B$3.6B$3.8B
Operating Expenses$2.5B$2.8B$3.1B$3.3B$3.5B$3.3B$3.1B$3.0B$3.0B$3.0B$3.0B$3.1B
Operating Profit$441.0M$434.0M$146.0M$291.0M$1.2B$601.0M$594.0M$521.0M$565.0M$620.0M$626.0M$701.0M
Operating Margin14.8%13.6%4.5%8.2%25.0%15.3%16.2%14.8%15.7%17.3%17.3%18.5%
Interest$1.2B$1.5B$1.7B$1.9B$2.0B$2.0B$1.7B$1.6B$1.6B$1.6B$1.5B$1.6B
Profit Before Tax$441.0M$434.0M$146.0M$291.0M$1.2B$601.0M$594.0M$521.0M$565.0M$620.0M$634.0M$701.0M
Tax$24.7M$24.5M$22.4M$26.1M$23.6M$22.7M$23.4M$24.8M$25.4M$26.1M$26.5M$25.0M
Net Profit$332.0M$328.0M$113.0M$215.0M$896.0M$465.0M$455.0M$392.0M$421.0M$458.0M$466.0M$526.0M
EPS$1.56$1.49$0.52$0.96$4.34$2.22$2.26$1.90$2.13$2.29$2.42$2.71

Over the 10 years reported for Northern Trust Corporation, borrowings increased from $8.9B in 2016 to $16.4B in 2025, cash stood at $61.1B in the latest year, shareholders' equity was $409.0M, current assets covered current liabilities 0.41 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$123.9B$138.6B$132.2B$136.8B$170.0B$183.9B$155.0B$150.8B$155.5B$177.1B
Current Assets$49.7B$64.4B$77.6B$83.0B$107.5B$110.2B$76.2B$65.1B$56.6B$63.8B
Cash$36.8B$50.6B$38.9B$43.2B$64.3B$69.6B$46.6B$41.1B$45.4B$61.1B
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$1.3B$1.9B$1.7B$911.0M$1.2B$2.0B$1.7B$213.0M$41.0M$0
Fixed Assets$467.0M$465.0M$428.0M$483.0M$515.0M$489.0M$501.0M$502.0M$490.0M$465.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$77.9B$79.0B$83.5B$82.4B$94.4B$102.7B$94.5B$96.7B$94.5B$60.1B
Other Assets$519.0M$606.0M$669.0M$697.0M$707.0M$706.0M$691.0M$702.0M$695.0M$713.0M
Total Liabilities$114.2B$128.4B$121.7B$125.7B$158.3B$171.9B$143.8B$138.9B$142.7B$164.2B
Current Liabilities$102.3B$115.5B$107.3B$110.2B$144.2B$161.0B$126.4B$120.0B$125.1B$155.7B
Borrowings$8.9B$12.4B$14.1B$11.8B$9.6B$8.4B$14.8B$17.2B$16.0B$16.4B
Other Liabilities$105.3B$116.0B$107.6B$114.0B$148.7B$163.4B$128.9B$121.6B$126.7B$147.7B
Equity$409.0M$409.0M$409.0M$409.0M$409.0M$409.0M$409.0M$409.0M$409.0M$409.0M
Reserves$9.8B$10.2B$10.5B$11.1B$11.7B$12.0B$11.3B$11.9B$12.8B$13.0B

For Northern Trust Corporation, operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $5.5B; free cash flow was positive in 9 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$1.5B$1.7B$1.8B$2.6B$1.9B$1.4B$2.4B$2.6B$-486.0M$5.5B
Investing Cash Flow$-10.7B$-14.5B$3.8B$-4.0B$-30.5B$-19.1B$25.2B$4.1B$-3.3B$-20.2B
Financing Cash Flow$6.3B$10.6B$-7.4B$1.5B$31.1B$17.9B$-31.1B$-7.5B$4.2B$15.5B
Net Cash Flow$-1.1B$-814.0M$64.0M$-122.0M$-70.0M$-1.3B$1.6B$137.0M$-114.0M$1.2B
Free Cash Flow$1.0B$1.2B$1.3B$2.0B$1.3B$841.0M$1.7B$1.9B$-1.2B$5.5B

Valuation & Return Ratios

MetricValue
PEG Ratio-1.77
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y36.37%
Return 3Y185.38%
Return 5Y51.96%

Northern Trust Corporation (NTRS) financials — frequently asked questions

What is Northern Trust Corporation's annual revenue?

Northern Trust Corporation (NTRS) reported annual revenue of $14.3B in its most recent fiscal year.

What is Northern Trust Corporation's net profit?

Northern Trust Corporation (NTRS) reported net profit of $1.7B in its most recent fiscal year.

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