Northern Trust Corporation (NTRS) 10-Year Financial Performance & Capital Metrics

NTRS • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutNorthern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services. This segment serves corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors. The Wealth Management segment offers trust, investment management, custody, and philanthropic; financial consulting; guardianship and estate administration; family business consulting; family financial education; brokerage services; and private and business banking services. This segment serves high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately held businesses. The company also provides asset management services, such as active and passive equity; active and passive fixed income; cash management; alternative asset classes comprising private equity and hedge funds of funds; and multi-manager advisory services and products through separately managed accounts, bank common and collective funds, registered investment companies, exchange traded funds, non-U.S. collective investment funds, and unregistered private investment funds. In addition, it offers overlay and other risk management services. Northern Trust Corporation was founded in 1889 and is headquartered in Chicago, Illinois.Show more

Net Interest Income $2.18B +9.8%
Total Revenue $15.88B +31.0%
Net Income $2.03B +83.4%
Return on Equity 16.46% +72.1%
Net Interest Margin 1.4% +6.5%
Efficiency Ratio 35.49% -18.6%
ROA 1.33% +83.1%
Equity / Assets 8.22% +4.2%
Book Value per Share 63.35 +10.5%
Tangible BV/Share 48.94 -9.3%
Debt/Equity 1.25 -13.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 35.5% efficiency ratio
✓Healthy dividend yield of 2.0%
✓Share count reduced 2.7% through buybacks
✓Diversified revenue: 38.5% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗Weak NIM of 1.4%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.4%

5Y18.15%

3Y34.75%

TTM-

Profit (Net Income) CAGR

10Y9.6%

5Y6.36%

3Y9.54%

TTM2.22%

EPS CAGR

10Y11.4%

5Y8.06%

3Y11.02%

TTM6.72%

ROCE

10Y Avg5.82%

5Y Avg3.92%

3Y Avg5.28%

Latest8.69%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	1.07B	1.23B	1.43B	1.62B	1.68B	1.44B	1.38B	1.89B	1.98B	2.18B
NII Growth %	0.06%	0.15%	0.16%	0.14%	0.03%	-0.14%	-0.04%	0.36%	0.05%	0.1%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	1.22B	1.42B	1.77B	2.32B	2.5B	1.64B	1.41B	2.88B	7.33B	9.76B
Interest Expense	153.9M	182M	340.2M	698.7M	822M	200.3M	23.8M	990.5M	5.34B	7.59B
Loan Loss Provision	-43M	-26M	-28M	-14.5M	-14.5M	125M	-81.5M	12M	24.5M	-3M
Non-Interest Income+	3.53B	3.6B	3.95B	4.34B	4.4B	4.66B	5.08B	4.87B	4.79B	6.11B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	4.76B	5.02B	5.72B	6.66B	6.9B	6.3B	6.49B	7.75B	12.12B	15.88B
Revenue Growth %	0.05%	0.06%	0.14%	0.17%	0.04%	-0.09%	0.03%	0.19%	0.56%	0.31%
Non-Interest Expense	3.18B	3.35B	3.77B	4.02B	4.14B	4.35B	4.54B	4.98B	5.28B	5.63B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.47B	1.52B	1.63B	1.96B	1.94B	1.63B	2.01B	1.77B	1.46B	2.66B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.23%	0.04%	0.08%	0.2%	-0.01%	-0.16%	0.24%	-0.12%	-0.17%	0.82%
Pretax Income+	1.47B	1.52B	1.63B	1.96B	1.94B	1.63B	2.01B	1.77B	1.46B	2.66B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	491.2M	484.6M	434.9M	401.4M	451.9M	418.3M	464.8M	430.3M	357.5M	628.4M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	973.8M	1.03B	1.2B	1.56B	1.49B	1.21B	1.55B	1.34B	1.11B	2.03B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.2%	0.06%	0.16%	0.3%	-0.04%	-0.19%	0.28%	-0.14%	-0.17%	0.83%
Net Income (Continuing)	973.8M	1.03B	1.2B	1.56B	1.49B	1.21B	1.55B	1.34B	1.11B	2.03B
EPS (Diluted)+	3.99	4.32	4.92	6.64	6.63	5.46	7.14	6.14	5.08	9.77
EPS Growth %	0.2%	0.08%	0.14%	0.35%	-0%	-0.18%	0.31%	-0.14%	-0.17%	0.92%
EPS (Basic)	4.03	4.35	4.95	6.68	6.66	5.48	7.16	6.16	5.09	9.80
Diluted Shares Outstanding	234.22M	229.15M	229.65M	224.49M	215.6M	209.01M	208.9M	208.87M	207.56M	201.87M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	0	0	1000K	1000K	1000K
Cash & Due from Banks	36.99B	36.81B	50.61B	38.93B	43.22B	0	0	46.63B	41.06B	45.4B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	0	0	1000K	1000K	1000K
Total Investments+	71.82B	80B	80.48B	84.81B	83.22B	0	0	95.83B	97.71B	95.14B
Investments Growth %	0.1%	0.11%	0.01%	0.05%	-0.02%	-1%	-	-	0.02%	-0.03%
Long-Term Investments	58.96B	66.52B	67.24B	46.75B	43.63B	0	0	67.93B	73.84B	84B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	526.4M	519.4M	605.6M	669.3M	696.8M	707.2M	706.2M	691.3M	702.3M	694.9M
Intangible Assets	0	0	0	0	0	1.71B	1.77B	0	0	2.21B
PP&E (Net)	446.9M	466.6M	464.6M	428.2M	483.3M	1.08B	1.02B	500.5M	502.2M	968.3M
Other Assets	4.27B	4.79B	4.56B	5.64B	8.3B	-3.49B	-3.5B	9.69B	10.6B	11.05B
Total Current Assets	52.54B	51.63B	65.73B	78.72B	83.72B	67.96B	73.49B	76.22B	65.14B	56.58B
Total Non-Current Assets	64.21B	72.3B	72.86B	53.5B	53.11B	0	0	78.82B	85.64B	98.93B
Total Assets+	116.75B	123.93B	138.59B	132.21B	136.83B	170B	183.89B	155.04B	150.78B	155.51B
Asset Growth %	0.06%	0.06%	0.12%	-0.05%	0.03%	0.24%	0.08%	-0.16%	-0.03%	0.03%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	8.1B	8.89B	12.4B	14.07B	11.79B	9.6B	8.43B	14.85B	17.24B	15.99B
Net Debt	-28.89B	-27.91B	-38.21B	-24.86B	-31.44B	9.6B	8.43B	-31.78B	-23.82B	-29.4B
Long-Term Debt	7.17B	8.19B	9.26B	11.3B	10.74B	4.09B	3.15B	12.38B	13.41B	13.37B
Short-Term Debt	898.1M	678.5M	3.12B	2.76B	1.04B	4.91B	4.71B	2.46B	3.83B	2.62B
Other Liabilities	3.08B	3.61B	3.59B	3.14B	4.83B	-4.69B	-3.72B	5B	5.49B	4.24B
Total Current Liabilities	97.77B	102.33B	115.51B	107.26B	110.16B	48.02B	53.02B	126.4B	119.99B	125.1B
Total Non-Current Liabilities	10.28B	11.83B	12.86B	14.44B	15.57B	0	0	17.38B	18.89B	17.62B
Total Liabilities	108.04B	114.16B	128.37B	121.7B	125.74B	158.32B	171.87B	143.78B	138.89B	142.72B
Total Equity+	8.71B	9.77B	10.22B	10.51B	11.09B	11.69B	12.02B	11.26B	11.9B	12.79B
Equity Growth %	0.03%	0.12%	0.05%	0.03%	0.06%	0.05%	0.03%	-0.06%	0.06%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.11%	0.12%	0.15%	0.14%	0.11%	0.13%	0.11%	0.1%	0.16%
Book Value per Share	37.17	42.64	44.49	46.81	51.44	55.92	57.52	53.91	57.32	63.35
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	408.6M	408.6M	408.6M	408.6M	408.6M	408.6M	408.6M	408.6M	408.6M	408.6M
Additional Paid-in Capital	1.07B	1.04B	1.05B	1.07B	1.01B	963.6M	939.3M	983.5M	1.01B	1.03B
Retained Earnings	8.24B	8.91B	9.69B	10.78B	11.66B	12.21B	13.12B	13.8B	14.23B	15.61B
Accumulated OCI	-372.7M	-370M	-414.3M	-453.7M	-194.7M	428M	-35.6M	-1.57B	-1.14B	-814M
Treasury Stock	-1.03B	-1.09B	-1.39B	-2.17B	-3.07B	-3.2B	-3.3B	-3.25B	-3.5B	-4.33B
Preferred Stock	388.5M	882M	882M	882M	1.27B	884.9M	884.9M	884.9M	884.9M	884.9M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.83B	1.51B	1.72B	1.77B	2.59B	1.9B	1.36B	2.39B	2.63B	-486M
Operating CF Growth %	0.96%	-0.18%	0.14%	0.03%	0.47%	-0.27%	-0.29%	0.76%	0.1%	-1.19%
Net Income	973.8M	1.03B	1.2B	1.56B	1.49B	1.21B	1.55B	1.34B	1.11B	2.03B
Depreciation & Amortization	351.6M	373.3M	421.7M	460.9M	458.9M	500.3M	515.6M	553.6M	634.6M	716.8M
Deferred Taxes	-146.2M	-175.8M	-76.1M	10.5M	34.3M	16.4M	2M	-142.7M	-48.2M	20.7M
Other Non-Cash Items	-328.6M	718.7M	-238M	737.8M	-402.8M	182.3M	191.1M	-285.7M	951.1M	-102.4M
Working Capital Changes	983.8M	-438.7M	413.8M	-998.1M	1.01B	-11.5M	-898M	931.2M	-19.2M	-3.15B
Cash from Investing+	-6.9B	-10.19B	-14.02B	4.33B	-3.4B	-29.92B	-18.6B	25.93B	4.78B	-2.56B
Purchase of Investments	-19.57B	-23.32B	-21.74B	-34.06B	-26.97B	-51.07B	-68.63B	-37.4B	-40.09B	-39.53B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-16.9M	-188.5M	-104.2M	-10.5M	0	0	0	0	0
Other Investing	-2.44B	-2.09B	-12.03B	9.59B	-3.62B	-23.12B	-14.86B	19.28B	1.26B	-784.9M
Cash from Financing+	8.53B	7.54B	11.25B	-5.82B	615.9M	27.87B	16.07B	-26.44B	-7.18B	3.44B
Dividends Paid	-348.4M	-356.4M	-406.6M	-451.8M	-576.1M	-630.5M	-625.1M	-796.7M	-663.3M	-644.1M
Share Repurchases	-496.9M	-411.1M	-523.1M	-924.3M	-1.1B	-299.8M	-267.6M	-35.4M	-347.5M	-937.8M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	7.3B	6.74B	11.07B	-6.49B	2.59B	31.42B	18.17B	-31.06B	-7.11B	5.13B
Net Change in Cash+	3.4B	-1.09B	-813.9M	63.5M	-122.4M	-69.7M	-1.33B	1.6B	137.3M	-114.3M
Exchange Rate Effect	-1000K	1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K
Cash at Beginning	3.02B	6.42B	5.33B	4.52B	4.58B	4.46B	4.39B	3.06B	4.65B	4.79B
Cash at End	6.42B	5.33B	4.52B	4.58B	4.46B	4.39B	3.06B	4.65B	4.79B	4.68B
Interest Paid	161.6M	181.6M	328.8M	670.2M	845.5M	226.8M	30.8M	822.4M	5.29B	7.61B
Income Taxes Paid	390M	754.2M	441.2M	493.5M	437M	327.7M	371M	459.9M	362.5M	268.6M
Free Cash Flow+	1.4B	1.04B	1.25B	1.26B	1.99B	1.34B	840.9M	1.67B	1.95B	-1.23B
FCF Growth %	1.66%	-0.26%	0.2%	0.01%	0.58%	-0.33%	-0.37%	0.98%	0.17%	-1.63%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.35%	11.18%	12%	15.02%	13.82%	10.62%	13.04%	11.48%	9.56%	16.46%
Return on Assets (ROA)	0.86%	0.86%	0.91%	1.15%	1.11%	0.79%	0.87%	0.79%	0.72%	1.33%
Net Interest Margin	0.92%	1%	1.03%	1.23%	1.23%	0.85%	0.75%	1.22%	1.31%	1.4%
Efficiency Ratio	66.87%	66.68%	65.95%	60.32%	60.09%	69.01%	69.91%	64.28%	43.61%	35.49%
Equity / Assets	7.46%	7.88%	7.37%	7.95%	8.11%	6.88%	6.53%	7.26%	7.89%	8.22%
Book Value / Share	37.17	42.64	44.49	46.81	51.44	55.92	57.52	53.91	57.32	63.35
NII Growth	6.42%	15.4%	15.73%	13.54%	3.4%	-13.99%	-4.19%	36.49%	5.02%	9.84%
Dividend Payout	33%	32.25%	29.76%	26.05%	35.5%	48.34%	37.75%	56.15%	56.13%	29.65%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asset Servicing	-	-	-	-	-	-	-	-	-	4.37B
Asset Servicing Growth	-	-	-	-	-	-	-	-	-	-
Wealth Management	1.98B	2.09B	2.29B	2.5B	2.58B	2.67B	2.86B	2.94B	2.88B	3.21B
Wealth Management Growth	-	5.57%	9.92%	9.21%	3.13%	3.30%	7.09%	2.98%	-1.97%	11.41%
Treasury and Other	220.8M	176.7M	35.8M	-84.3M	-17.1M	-18.3M	-21.3M	-235.6M	-	-
Treasury and Other Growth	-	-19.97%	-79.74%	-335.47%	79.72%	-7.02%	-16.39%	-1006.10%	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Domestic Country	-	-	-	-	-	-	-	4.49B	4.62B	6.05B
Domestic Country Growth	-	-	-	-	-	-	-	-	2.89%	30.94%
Foreign Country	-	-	-	-	-	-	-	2.27B	2.16B	2.24B
Foreign Country Growth	-	-	-	-	-	-	-	-	-5.16%	4.10%

Frequently Asked Questions

Valuation & Price

Northern Trust Corporation (NTRS) has a price-to-earnings (P/E) ratio of 15.1x. This is roughly in line with market averages.

Growth & Financials

Northern Trust Corporation (NTRS) grew revenue by 31.0% over the past year. This is strong growth.

Yes, Northern Trust Corporation (NTRS) is profitable, generating $1.73B in net income for fiscal year 2024 (12.8% net margin).

Dividend & Returns

Yes, Northern Trust Corporation (NTRS) pays a dividend with a yield of 2.03%. This makes it attractive for income-focused investors.

Northern Trust Corporation (NTRS) has a return on equity (ROE) of 16.5%. This is reasonable for most industries.

Industry Metrics

Northern Trust Corporation (NTRS) has a net interest margin (NIM) of 1.4%. NIM has been under pressure due to interest rate environment.

Northern Trust Corporation (NTRS) has an efficiency ratio of 35.5%. This is excellent, indicating strong cost control.

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