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Stocks · Financials · State Commercial Banks

Northern Trust

NTRS Clue Score61
United States Fiscal year ends December CIK 0000073124
$168.21 -0.17% Close, 9 Oct 2026
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Price $168.21 +45.28% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue4.96Net income1.03EPS, diluted4.32Fiscal year 2017Revenue3.43 −30.8%Net income1.20 +16.1%EPS, diluted4.92 +13.9%Fiscal year 2018Revenue3.75 +9.3%Net income1.56 +29.8%EPS, diluted6.64 +35.0%Fiscal year 2019Revenue3.85 +2.6%Net income1.49 −4.1%EPS, diluted6.63 −0.2%Fiscal year 2020Revenue4.00 +3.7%Net income1.21 −19.0%EPS, diluted5.46 −17.6%Fiscal year 2021Revenue4.36 +9.2%Net income1.55 +27.8%EPS, diluted7.14 +30.8%Fiscal year 2022Revenue4.43 +1.6%Net income1.34 −13.5%EPS, diluted6.14 −14.0%Fiscal year 2023Revenue4.36 −1.6%Net income1.11 −17.1%EPS, diluted5.08 −17.3%Fiscal year 2024Revenue4.73 +8.4%Net income2.03 +83.4%EPS, diluted9.77 +92.3%Fiscal year 2025Revenue5.02 +6.1%Net income1.74 −14.5%EPS, diluted8.74 −10.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 4.96 3.43 3.75 3.85 4.00 4.36 4.43 4.36 4.73 5.02
Growth −30.8% +9.3% +2.6% +3.7% +9.2% +1.6% −1.6% +8.4% +6.1%
Net income 1.03 1.20 1.56 1.49 1.21 1.55 1.34 1.11 2.03 1.74
Growth +16.1% +29.8% −4.1% −19.0% +27.8% −13.5% −17.1% +83.4% −14.5%
EPS, diluted 4.32 4.92 6.64 6.63 5.46 7.14 6.14 5.08 9.77 8.74
Growth +13.9% +35.0% −0.2% −17.6% +30.8% −14.0% −17.3% +92.3% −10.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin20.8%Free cash flow margin28.2%Fiscal year 2017Net margin34.9%Free cash flow margin47.4%Fiscal year 2018Net margin41.5%Free cash flow margin44.5%Fiscal year 2019Net margin38.7%Free cash flow margin63.2%Fiscal year 2020Net margin30.3%Free cash flow margin44.1%Fiscal year 2021Net margin35.4%Free cash flow margin28.9%Fiscal year 2022Net margin30.1%Free cash flow margin51.1%Fiscal year 2023Net margin25.4%Free cash flow margin57.5%Fiscal year 2024Net margin43.0%Free cash flow margin−12.4%Fiscal year 2025Net margin34.6%Free cash flow margin108.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 20.8% 34.9% 41.5% 38.7% 30.3% 35.4% 30.1% 25.4% 43.0% 34.6%
Free cash flow margin 28.2% 47.4% 44.5% 63.2% 44.1% 28.9% 51.1% 57.5% −12.4% 108.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.51Capital expenditure−0.11Free cash flow1.40Buybacks−0.41Dividends paid−0.33Fiscal year 2017Operating cash flow1.72Capital expenditure−0.09Free cash flow1.63 +16.5%Buybacks−0.52Dividends paid−0.36Fiscal year 2018Operating cash flow1.77Capital expenditure−0.10Free cash flow1.67 +2.5%Buybacks−0.92Dividends paid−0.41Fiscal year 2019Operating cash flow2.59Capital expenditure−0.16Free cash flow2.43 +45.8%Buybacks−1.10Dividends paid−0.53Fiscal year 2020Operating cash flow1.90Capital expenditure−0.14Free cash flow1.76 −27.6%Buybacks−0.30Dividends paid−0.58Fiscal year 2021Operating cash flow1.36Capital expenditure−0.10Free cash flow1.26 −28.4%Buybacks−0.27Dividends paid−0.58Fiscal year 2022Operating cash flow2.39Capital expenditure−0.13Free cash flow2.26 +79.6%Buybacks−0.04Dividends paid−0.75Fiscal year 2023Operating cash flow2.63Capital expenditure−0.12Free cash flow2.51 +10.8%Buybacks−0.35Dividends paid−0.62Fiscal year 2024Operating cash flow−0.49Capital expenditure−0.10Free cash flow−0.59 −123.4%Buybacks−0.94Dividends paid−0.60Fiscal year 2025Operating cash flow5.53Capital expenditure−0.07Free cash flow5.46Buybacks−1.27Dividends paid−0.59
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.51 1.72 1.77 2.59 1.90 1.36 2.39 2.63 −0.49 5.53
Capital expenditure −0.11 −0.09 −0.10 −0.16 −0.14 −0.10 −0.13 −0.12 −0.10 −0.07
Free cash flow 1.40 1.63 1.67 2.43 1.76 1.26 2.26 2.51 −0.59 5.46
Growth +16.5% +2.5% +45.8% −27.6% −28.4% +79.6% +10.8% −123.4%
Buybacks −0.41 −0.52 −0.92 −1.10 −0.30 −0.27 −0.04 −0.35 −0.94 −1.27
Dividends paid −0.33 −0.36 −0.41 −0.53 −0.58 −0.58 −0.75 −0.62 −0.60 −0.59

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash5.33Shareholders’ equity9.77Fiscal year 2017Cash4.52Shareholders’ equity10.22Fiscal year 2018Cash4.58Shareholders’ equity10.51Fiscal year 2019Cash4.46Shareholders’ equity11.08Fiscal year 2020Cash4.39Shareholders’ equity11.69Fiscal year 2021Cash3.06Shareholders’ equity12.02Fiscal year 2022Cash4.65Shareholders’ equity11.26Fiscal year 2023Cash4.79Shareholders’ equity11.90Fiscal year 2024Cash4.68Shareholders’ equity12.79Fiscal year 2025Cash5.87Shareholders’ equity12.96
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.33 4.52 4.58 4.46 4.39 3.06 4.65 4.79 4.68 5.87
Shareholders’ equity 9.77 10.22 10.51 11.08 11.69 12.02 11.26 11.90 12.79 12.96

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
4.96 3.43 3.75 3.85 4.00 4.36 4.43 4.36 4.73 5.02
Growth −30.8% +9.3% +2.6% +3.7% +9.2% +1.6% −1.6% +8.4% +6.1%
1.52 1.63 1.96 1.94 1.63 2.01 1.77 1.46 2.66 2.34
0.48 0.43 0.40 0.45 0.42 0.46 0.43 0.36 0.63 0.60
1.03 1.20 1.56 1.49 1.21 1.55 1.34 1.11 2.03 1.74
Growth +16.1% +29.8% −4.1% −19.0% +27.8% −13.5% −17.1% +83.4% −14.5%
Per share
4.35 4.95 6.68 6.66 5.48 7.16 6.16 5.09 9.80 8.78
4.32 4.92 6.64 6.63 5.46 7.14 6.14 5.08 9.77 8.74
Growth +13.9% +35.0% −0.2% −17.6% +30.8% −14.0% −17.3% +92.3% −10.5%
227.6 228.3 223.1 214.5 208.3 208.1 208.3 207.2 201.3 191.4
229.2 229.7 224.5 215.6 209.0 208.9 208.9 207.6 201.9 192.2
Growth +0.2% −2.2% −4.0% −3.1% −0.1% −0.0% −0.6% −2.7% −4.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.7% a year over five years, and earnings per share grew 9.9% a year.
  • The diluted share count fell 8.0% in five years, so buybacks did some of the work per share.
  • Profitable in every one of the 10 years on file.