NASDAQ : NTRS
Northern Trust Corporation — Financial statements
Financials · Asset Management · United States
Last price 172.92 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 31.32B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 8.62B | 8.62B | 9.76B | 7.33B | 2.88B | 1.41B |
| Interest Paid on Deposits | 5.98B | 6.21B | 7.59B | 5.34B | 990.50M | 23.80M |
| Net Interest Income | 2.64B | 2.41B | 2.18B | 1.98B | 1.89B | 1.38B |
| Trust Income | 5.37B | 5.02B | 4.73B | 4.36B | 4.43B | 4.36B |
| Gain (Loss) on Sale of Investments | 466.20M | -189.30M | -169.50M | -214.00M | -300.00K | |
| Other Non-Interest Income | 807.20M | 657.60M | 1.57B | 599.20M | 655.40M | 721.00M |
| Total Non-Interest Income | 6.68B | 5.68B | 6.11B | 4.79B | 4.87B | 5.08B |
| Revenues Before Loan Losses | 9.32B | 8.09B | 8.29B | 6.77B | 6.76B | 6.46B |
| Provision for Loan Losses | -11.00M | -7.50M | -3.00M | 24.50M | 12.00M | -81.50M |
| Revenue | 9.33B | 8.09B | 8.29B | 6.75B | 6.75B | 6.55B |
| Salaries and Employee Benefits | 3.01B | 2.91B | 2.77B | 2.61B | 2.56B | 2.35B |
| Occupancy Expenses | 82.30M | 82.30M | 77.00M | 232.30M | 219.10M | 208.70M |
| Selling, General & Administrative | 2.67B | 2.50B | 2.41B | 2.04B | 1.92B | 1.75B |
| Other Non-Interest Expense | 305.40M | 284.00M | 348.60M | 313.50M | 282.60M | 233.60M |
| Total Non-Interest Expense | 6.07B | 5.77B | 5.61B | 5.20B | 4.98B | 4.54B |
| EBT Excluding Unusual Items | 3.26B | 2.32B | 2.68B | 1.55B | 1.77B | 2.01B |
| Legal Settlements | -10.60M | |||||
| Other Unusual Items | -68.20M | 15.90M | -14.70M | -84.60M | ||
| Pretax Income | 3.20B | 2.34B | 2.66B | 1.46B | 1.77B | 2.01B |
| Income Tax Expense | 769.00M | 602.60M | 628.40M | 357.50M | 430.30M | 464.80M |
| Net Income | 2.43B | 1.74B | 2.03B | 1.11B | 1.34B | 1.55B |
| Preferred Dividends & Other Adjustments | 60.70M | 57.70M | 58.70M | 53.40M | 53.60M | 54.70M |
| Net Income to Common | 2.37B | 1.68B | 1.97B | 1.05B | 1.28B | 1.49B |
| Basic Shares Outstanding | 184.75M | 191.36M | 201.26M | 207.25M | 208.31M | 208.08M |
| Diluted Shares Outstanding | 185.78M | 192.25M | 201.87M | 207.56M | 208.87M | 208.90M |
| EPS (Basic) | 12.81 | 8.78 | 9.80 | 5.09 | 6.16 | 7.16 |
| EPS (Diluted) | 12.74 | 8.74 | 9.77 | 5.08 | 6.14 | 7.14 |
| Dividend Per Share | 3.28 | 3.10 | 3.00 | 3.00 | 2.90 | 2.80 |
| Effective Tax Rate | 24.06% | 25.76% | 23.63% | 24.41% | 24.36% | 23.12% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.54B | 4.07B | 3.60B | 4.79B | 4.69B | 3.06B |
| Investment Securities | 63.24B | 62.64B | 54.03B | 52.12B | 54.28B | 63.73B |
| Trading Asset Securities | 1.80B | 315.10M | 3.45B | 441.50M | 1.02B | 813.90M |
| Mortgage-Backed Securities | 4.37B | 446.60M | 627.80M | 902.90M | 1.39B | 1.42B |
| Total Investments | 69.41B | 63.40B | 58.10B | 53.46B | 56.69B | 65.97B |
| Gross Loans | 41.72B | 41.95B | 43.40B | 47.62B | 42.90B | 40.49B |
| Allowance for Loan Losses | -159.80M | -175.00M | -175.50M | -192.30M | -161.10M | -150.60M |
| Other Adjustments to Gross Loans | -4.50M | -5.30M | -6.30M | -5.90M | -9.00M | -10.40M |
| Net Loans | 41.56B | 41.77B | 43.22B | 47.42B | 42.73B | 40.33B |
| Property, Plant & Equipment | 444.70M | 929.20M | 968.30M | 1.02B | 985.30M | 1.02B |
| Goodwill | 707.80M | 712.90M | 694.90M | 702.30M | 691.30M | 706.20M |
| Other Intangible Assets | 2.26B | 2.41B | 2.21B | 2.10B | 2.04B | 1.77B |
| Accrued Interest Receivable | 565.70M | 498.70M | 497.60M | 528.90M | 457.20M | 225.00M |
| Other Receivables | 1.07B | 1.06B | 996.80M | 928.40M | 937.90M | 1.05B |
| Restricted Cash | 39.75B | 55.32B | 39.88B | 34.33B | 40.03B | 64.58B |
| Other Current Assets | 212.60M | 1.70B | 1.94B | |||
| Other Real Estate Owned & Foreclosed | 1.50M | 3.00M | ||||
| Other Long-Term Assets | 6.96B | 6.94B | 5.34B | 5.28B | 4.09B | 3.23B |
| Total Assets | 167.27B | 177.13B | 155.51B | 150.78B | 155.04B | 183.89B |
| Interest Bearing Deposits | 108.05B | 108.84B | 91.03B | 87.23B | 94.87B | 110.59B |
| Institutional Deposits | 6.61B | 7.10B | 6.10B | 3.72B | 1.03B | |
| Non-Interest Bearing Deposits | 24.13B | 27.35B | 24.35B | 22.83B | 25.34B | 48.32B |
| Total Deposits | 132.18B | 142.80B | 122.48B | 116.16B | 123.93B | 159.93B |
| Short-Term Borrowings | 11.27B | 10.83B | 10.10B | 11.84B | 11.84B | 4.97B |
| Current Portion of Long-Term Debt | 1.40B | 1.34B | 499.80M | |||
| Current Portion of Leases | 98.00M | |||||
| Other Current Liabilities | 328.00M | 373.00M | 227.10M | 178.80M | 218.90M | 289.30M |
| Long-Term Debt | 5.31B | 5.44B | 4.12B | 4.84B | 4.79B | 3.15B |
| Federal Home Loan Bank Debt, Long-Term | 1.40B | 2.00B | ||||
| Long-Term Leases | 526.40M | 648.80M | 692.80M | 626.20M | 663.10M | |
| Other Long-Term Liabilities | 4.81B | 2.72B | 2.41B | 3.17B | 2.37B | 2.37B |
| Total Liabilities | 153.91B | 164.17B | 142.72B | 138.89B | 143.78B | 171.87B |
| Preferred Stock, Redeemable | 884.90M | 884.90M | 884.90M | 884.90M | 884.90M | 884.90M |
| Common Stock | 408.60M | 408.60M | 408.60M | 408.60M | 408.60M | 408.60M |
| Additional Paid-In Capital | 1.06B | 1.04B | 1.03B | 1.01B | 983.50M | 939.30M |
| Retained Earnings | 18.17B | 16.71B | 15.61B | 14.23B | 13.80B | 13.12B |
| Treasury Stock | -6.44B | -5.49B | -4.33B | -3.50B | -3.25B | -3.30B |
| Comprehensive Income & Other | -718.70M | -590.50M | -814.00M | -1.14B | -1.57B | -35.60M |
| Total Common Equity | 12.48B | 12.07B | 11.90B | 11.01B | 10.37B | 11.13B |
| Shareholders' Equity | 13.36B | 12.96B | 12.79B | 11.90B | 11.26B | 12.02B |
| Total Liabilities & Equity | 167.27B | 177.13B | 155.51B | 150.78B | 155.04B | 183.89B |
| Total Debt | 16.59B | 18.29B | 17.60B | 19.37B | 17.26B | 9.28B |
| Net Cash (Debt) | -7.94B | -9.07B | -7.84B | -10.83B | -8.51B | -2.10B |
| Net Cash Per Share | -42.74 | -47.18 | -38.86 | -52.18 | -40.75 | -10.06 |
| Filing Date Shares Outstanding | 181.12M | 185.83M | 195.70M | 204.84M | 208.20M | 207.90M |
| Total Common Shares Outstanding | 181.12M | 186.34M | 195.97M | 205.13M | 208.43M | 207.76M |
| Book Value Per Share | 68.89 | 64.79 | 60.74 | 53.69 | 49.78 | 53.58 |
| Tangible Book Value | 9.51B | 8.95B | 9.00B | 8.21B | 7.64B | 8.65B |
| Tangible Book Value Per Share | 52.52 | 48.02 | 45.90 | 40.03 | 36.67 | 41.64 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.43B | 1.74B | 2.03B | 1.11B | 1.34B | 1.55B |
| Depreciation & Amortization | 97.90M | 106.80M | 119.20M | 125.20M | 119.40M | 125.50M |
| Other Amortization | 694.00M | 672.30M | 597.60M | 509.40M | 434.20M | 390.10M |
| Gain (Loss) on Sale of Investments | -9.80M | -67.80M | 154.20M | 172.50M | 60.30M | 100.00M |
| Provision for Credit Losses | -11.00M | -7.50M | -3.00M | 24.50M | 12.00M | -81.50M |
| Change in Income Taxes | -104.40M | -104.40M | 183.50M | -44.40M | 61.30M | 37.20M |
| Change in Other Net Operating Assets | -858.60M | 2.84B | -3.29B | -60.60M | 697.30M | -927.40M |
| Other Operating Activities | -348.70M | 378.90M | -232.90M | 705.90M | -500.70M | 174.60M |
| Operating Cash Flow | 1.83B | 5.53B | -486.00M | 2.63B | 2.39B | 1.36B |
| Capital Expenditures | -89.80M | -74.00M | -101.50M | -116.50M | -128.60M | -95.50M |
| Investment in Securities | -4.52B | -4.49B | -1.80B | 3.67B | 6.20B | -407.30M |
| Purchase / Sale of Intangibles | -646.50M | -700.20M | -644.00M | -559.30M | -594.90M | -419.60M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 1.22B | 1.52B | 4.17B | -4.70B | -2.44B | -6.74B |
| Other Investing Activities | 8.27B | -16.43B | -4.19B | 6.49B | 22.89B | -10.94B |
| Investing Cash Flow | 4.23B | -20.17B | -2.56B | 4.78B | 25.93B | -18.60B |
| Short-Term Debt Issued | 566.80M | 1.37B | 5.90B | 492.10M | ||
| Long-Term Debt Issued | 1.25B | 2.00B | 1.99B | |||
| Total Debt Issued | 3.43B | 1.82B | 3.37B | 7.89B | 492.10M | |
| Short-Term Debt Repaid | -188.20M | -1.31B | -1.06B | -686.50M | ||
| Long-Term Debt Repaid | -1.35B | -500.00M | -778.80M | |||
| Total Debt Repaid | -3.01B | -1.54B | -1.31B | -1.06B | -500.00M | -1.47B |
| Net Debt Issued (Repaid) | 422.90M | 278.40M | -1.31B | 2.31B | 7.39B | -973.20M |
| Issuance of Common Stock | 4.70M | 6.40M | 9.40M | 2.30M | 3.90M | 53.80M |
| Repurchase of Common Stock | -1.43B | -1.27B | -937.80M | -347.50M | -35.40M | -267.60M |
| Common Dividends Paid | -604.60M | -591.60M | -602.30M | -621.50M | -750.20M | -583.30M |
| Preferred Dividends Paid | -41.80M | -41.80M | -41.80M | -41.80M | -46.50M | -41.80M |
| Total Dividends Paid | -646.40M | -633.40M | -644.10M | -663.30M | -796.70M | -625.10M |
| Net Increase (Decrease) in Deposit Accounts | -3.24B | 16.81B | 6.33B | -8.48B | -33.00B | 17.89B |
| Other Financing Activities | -6.90M | -11.10M | -6.40M | -2.70M | 100.00K | |
| Financing Cash Flow | -4.89B | 15.18B | 3.44B | -7.18B | -26.44B | 16.07B |
| Foreign Exchange Rate Adjustments | -69.70M | 656.40M | -504.30M | -89.80M | -287.40M | -159.60M |
| Net Cash Flow | 1.10B | 1.20B | -114.30M | 137.30M | 1.60B | -1.33B |
| Free Cash Flow | 1.74B | 5.46B | -587.50M | 2.51B | 2.26B | 1.26B |
| Free Cash Flow Margin | 18.63% | 67.45% | -7.08% | 37.18% | 33.54% | 19.26% |
| Free Cash Flow Per Share | 9.36 | 28.40 | -2.91 | 12.09 | 10.84 | 6.03 |
| Cash Interest Paid | 6.04B | 6.22B | 7.61B | 5.29B | 822.40M | 30.80M |
| Cash Income Tax Paid | 629.70M | 426.80M | 268.60M | 362.50M | 459.90M | 371.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 30.64B | 25.83B | 20.32B | 17.47B | 18.44B | 24.84B |
| Last Close Price | 169.16 | 134.57 | 98.28 | 78.23 | 79.04 | 103.75 |
| PE Ratio | 13.28 | 15.38 | 10.30 | 16.58 | 14.38 | 16.66 |
| PS Ratio | 3.28 | 3.19 | 2.45 | 2.59 | 2.73 | 3.79 |
| PB Ratio | 2.46 | 1.99 | 1.59 | 1.47 | 1.64 | 2.07 |
| P/FCF Ratio | 17.62 | 4.73 | 6.96 | 8.15 | 19.70 | |
| P/OCF Ratio | 16.76 | 4.67 | 6.65 | 7.71 | 18.32 | |
| Debt / Equity Ratio | 1.24 | 1.41 | 1.38 | 1.63 | 1.53 | 0.77 |
| Debt / FCF Ratio | 9.54 | 3.35 | 7.72 | 7.62 | 7.36 | |
| Net Debt / Equity Ratio | 0.59 | 0.70 | 0.61 | 0.91 | 0.76 | 0.17 |
| Net Debt / FCF Ratio | 4.57 | 1.66 | -13.35 | 4.32 | 3.76 | 1.67 |
| Return on Equity (ROE) | 18.44% | 13.49% | 16.46% | 9.56% | 11.48% | 13.04% |
| Return on Assets (ROA) | 1.44% | 1.04% | 1.33% | 0.72% | 0.79% | 0.87% |
| Earnings Yield | 7.53% | 6.72% | 10.00% | 6.34% | 7.24% | 6.22% |
| FCF Yield | 5.67% | 21.14% | -2.89% | 14.36% | 12.28% | 5.08% |
| Dividend Yield | 2.08% | 2.24% | 2.89% | 3.52% | 3.28% | 2.34% |
| Payout Ratio | 27.63% | 36.47% | 31.71% | 59.90% | 59.63% | 40.45% |
| Buyback Yield / Dilution | 4.55% | 4.77% | 2.74% | 0.62% | 0.01% | 0.05% |
| Total Shareholder Return | 6.63% | 7.00% | 5.64% | 4.15% | 3.29% | 2.39% |