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Stocks / United States / NTRS · State Commercial Banks · Nasdaq

Northern Trust Corp. (NTRS)

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Northern Trust Corp. (NTRS) reported revenue of $1.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.6% on the same quarter a year earlier. Net income was $792 million, up 88.0% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$1.3 billionup 9.6%
Net income$792 millionup 88.0%
Diluted EPSn/a
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE16.7%
Net margin42.6%
Debt to equityn/a
Share count, 1 year-4.3%
Sales CAGR, 3 years6.1%
Profit CAGR, 3 years9.1%
EPS, TTMn/a

At the close of 21 September 2026

Price$178.95
Market cap$32.7 billion
Stock P/E15.29
Price to book2.44
EV / EBITDAn/a
Dividend yield1.7%
Market cap / sales6.22
52-week high$191.47
52-week low$122.72
Price, 1 year36.1%
Price CAGR, 3 years37.1%
Price CAGR, 5 years11.0%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Northern Trust Corp. files on the bank format, which does not report a return on capital employed, an operating margin or interest cover, so those are left out here rather than shown as a blank. Free cash flow margin and cash conversion are left out too, by our choice: a bank's operating cash flow moves with its lending and deposits, so neither ratio means for a bank what it means for an operating company. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NTRS

Filings19 in twelve months: 9 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 2 other events; 1 shareholder vote
Planned insider sales14 Form 144 notices in twelve months, $15.4 million; latest 19 August 2026
Options tapeput/call 0.36 by open interest on 23 September 2026; the straddle prices a 5.4% move to 16 October 2026
Holders7 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading9 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest3.7 million shares short, 4.07 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,1121,0901,1431,1661,1971,2221,2141,2311,2661,3071,3411,350
Interest expense1,4791,7161,918n/an/an/an/an/an/an/an/an/a
Pre-tax income4341462911,1746015945215656206347011,065
Tax rate25%22%26%24%23%23%25%25%26%26%25%26%
Net income328113215896465455392421458466526792
Net margin29%10%19%77%39%37%32%34%36%36%39%59%
Diluted EPS$1.49$0.52$0.96$4.34$2.22$2.25$1.90$2.13$2.29$2.42$2.71n/a
Operating cash flow86.72,803-1,4532,990611-2,6352,7501,870526388-320-64.9
Capital expenditure21.163.814.320.825.740.712.412.416.432.89.425.4
Free cash flow65.62,739-1,4672,970585-2,6762,7371,857509356-329-90.3
Buybacks1.1146132251301254287339277370359351
Dividends paid155154154152149148146144152150148147
Shares outstanding207m205m205m202m198m196m195m191m189m186m185m183m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4,3314,7034,9625,3755,9606,0736,1016,4646,7616,7748,2908,0865,264
Interest expense18115418234069982220023.89905,343n/an/an/a
Pre-tax income1,1901,4651,5171,6341,9581,9441,6282,0101,7661,4652,6602,3403,019
Income tax378491485435401452418465430358628603777
Effective tax rate31.8%33.5%31.9%26.6%20.5%23.2%25.7%23.1%24.4%24.4%23.6%25.8%25.8%
Net income8129741,0321,1991,5561,4921,2091,5451,3361,1072,0311,7372,241
Net margin18.7%20.7%20.8%22.3%26.1%24.6%19.8%23.9%19.8%16.3%24.5%21.5%42.6%
Diluted EPS$3.32$3.99$4.32$4.92$6.64$6.63$5.46$7.14$6.14$5.08$9.77$8.74n/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. FY2024: the four quarters as first filed in the 10-Qs do not add to the year as filed in the 10-K, because the company later restated them (a spin-off or discontinued operations).

Cash flow and capital returned

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow9361,8341,5101,7201,7682,5921,8971,3562,3922,626-4865,534529
Capital expenditure81.998.511191.697.615813695.512911610274.084.0
Free cash flow8541,7361,3991,6291,6702,4341,7611,2602,2642,509-5885,460445
Free cash flow margin19.7%36.9%28.2%30.3%28.0%40.1%28.9%19.5%33.5%37.0%-7.1%67.5%8.5%
Depreciation and amortisationn/an/an/an/a461459500516554635717779788
Share-based compensation77.776.486.812813110891.495.5125118119126164
Buybacks4814974115239241,10030026835.43489381,2741,356
Dividends paid303321333357405530585583750622602592597
Dividend per sharen/an/an/a$1.60$1.94$2.60$2.80$2.80$2.90$3.00$3.00$3.10n/a
Diluted shares, weighted238m234m229m230m224m216m209m209m209m208m202m192m185m
Shares outstanding at period end233m229m229m226m219m210m208m208m208m205m196m186m183m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets109,946116,750123,927138,590132,212136,828170,004183,890155,037150,783155,508177,133179,297
Cash and equivalentsn/an/a5,3324,5184,5824,4594,3903,0574,6544,7924,6775,8735,737
Goodwill533526519606669697707706691702695713710
Shareholders' equity8,4498,7069,77010,21610,50811,09111,68812,01711,26011,89812,78812,95813,402
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.6%5.8%6.1%8.2%
Profit growth, compounded6.0%7.5%9.1%29.3%
Return on equity, average12.4%12.7%12.9%13.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: State Commercial Banks

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Bank of New York Mellon Corp. BNY$104.4 billion17.9414.1%n/a-4.6%0.681.3%
State Street Corp. STT$50.7 billion16.2812.2%n/a12.3%0.551.7%
Fifth Third Bancorp FITB$48.3 billion18.266.8%n/a49.0%0.512.9%
M&T Bank Corp. MTB$32.8 billion12.0110.9%n/a6.4%0.492.5%
Northern Trust Corp. NTRS$32.7 billion15.2916.7%n/a8.2%n/a1.7%
Citizens Financial Group Inc/Ri CFG$28.5 billion14.648.1%n/a11.0%0.582.6%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202530 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202424 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 202423 April 2024EDGAR

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