Northern Trust (NTRS) FY2016 results: revenue $5.0 billion, up 5.5% on the year
Northern Trust Corp. (NTRS) reported revenue of $5.0 billion for fiscal 2016, the year ended 31 December 2016, up 5.5% on the year before. Net income was $1.0 billion, up 6.0%, and diluted earnings per share $4.32. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$5.0 billion
+5.5% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$1.0 billion
+6.0% on the year
FY2009FY2016
Diluted EPS
$4.32
+8.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
4,962
4,703
4,331
+5.5%
Interest expense
182
154
181
+18.3%
Pre-tax income
1,517
1,465
1,190
+3.6%
Income tax
485
491
378
-1.3%
Effective tax rate
31.9%
33.5%
31.8%
Net income
1,032
974
812
+6.0%
Net margin
20.8%
20.7%
18.7%
Diluted EPS
$4.32
$3.99
$3.32
+8.3%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,510
1,834
936
-17.7%
Capital expenditure
111
98.5
81.9
+13.0%
Free cash flow
1,399
1,736
854
-19.4%
Cash from investing
-10,192
-6,901
-8,235
Cash from financing
7,537
8,534
7,074
-11.7%
Share-based compensation
86.8
76.4
77.7
+13.6%
Buybacks
411
497
481
-17.3%
Dividends paid
333
321
303
+3.6%
Diluted shares, weighted
229m
234m
238m
-2.2%
Shares outstanding at period end
229m
229m
233m
-0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
9,770
8,706
8,449
+12.2%
Deposits
101,652
96,869
90,757
+4.9%
Debt
8,893
8,099
6,892
+9.8%
Other liabilities
3,612
3,076
3,848
+17.4%
Total liabilities and equity
123,927
116,750
109,946
+6.1%
Fixed assets
467
447
444
+4.4%
Goodwill
519
526
533
-1.3%
Intangible assets
41.8
46.5
60.0
-10.1%
Securities held for sale or to maturity
44,501
37,566
33,729
+18.5%
Loans
33,661
32,987
31,373
+2.0%
Resale agreements
1,974
1,614
1,063
+22.3%
Trading assets
0.3
1.2
4.7
-75.0%
Cash and equivalents
5,332
n/a
n/a
Other assets
37,430
43,561
42,739
-14.1%
Total assets
123,927
116,750
109,946
+6.1%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.