NTRSNasdaqState Commercial BanksFiscal year ends December 31Also trades as NTRSO
NORTHERN TRUST CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$164.46−1.08 (-0.65%)
Close on Oct 19, 2026
- Market cap
- $30.41B
- P/E (TTM)
- 14.0
- Dividend yield
- 1.88%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
21.5%+1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.5% | +6.1% | +5.8% | +5.6% | |
| Net income | -14.5% | +9.1% | +7.5% | +6.0% | |
| EPS, diluted | -10.5% | +12.5% | +9.9% | +8.2% | |
| Free cash flow | – | +34.1% | +25.4% | +12.1% | |
| Dividend per share | +3.3% | +2.2% | +2.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.2% | 10.6% | 13.5% | |
| Return on assets | 0.9% | 0.8% | 1.0% | |
| Capex to revenue | 2.2% | 2.2% | 0.9% | |
| Diluted shares | 229M | 209M | 192M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Northern Trust generated $12.39B from operations and spent $6.53B on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$12.39B
Used
$6.53B
Capital expenditure$516.10M8%Dividends$3.15B48%Share buybacks$2.86B44%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin21.5%
×Asset turnover0.05×
×Equity multiplier12.92×
=Return on equity, FY202513.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 21.5% | 0.05× | 12.92× | 13.5% |
| FY2024 | 24.5% | 0.05× | 12.41× | 16.5% |
| FY2023 | 16.3% | 0.04× | 13.21× | 9.6% |
| FY2022 | 19.8% | 0.04× | 14.56× | 11.5% |
| FY2021 | 23.9% | 0.04× | 14.93× | 13.0% |
| FY2020 | 19.8% | 0.04× | 13.48× | 10.6% |
| FY2019 | 24.6% | 0.05× | 12.46× | 13.8% |
| FY2018 | 26.1% | 0.04× | 13.07× | 15.0% |
| FY2017 | 22.3% | 0.04× | 13.13× | 12.0% |
| FY2016 | 20.8% | 0.04× | 13.03× | 11.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.74B
- Cash generatingOperating cash flow above zero$5.53B
- Return on assets improvedROA up on the prior year1.3% → 1.1%
- Earnings backed by cashOperating cash flow above net income$5.53B vs $1.74B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise202M → 192M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.05 → 0.05