Northern Trust (NTRS) FY2017 results: revenue $5.4 billion, up 8.3% on the year
Northern Trust Corp. (NTRS) reported revenue of $5.4 billion for fiscal 2017, the year ended 31 December 2017, up 8.3% on the year before. Net income was $1.2 billion, up 16.1%, and diluted earnings per share $4.92. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$5.4 billion
+8.3% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$1.2 billion
+16.1% on the year
FY2010FY2017
Diluted EPS
$4.92
+13.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,375
4,962
4,703
+8.3%
Interest expense
340
182
154
+86.9%
Pre-tax income
1,634
1,517
1,465
+7.7%
Income tax
435
485
491
-10.3%
Effective tax rate
26.6%
31.9%
33.5%
Net income
1,199
1,032
974
+16.1%
Net margin
22.3%
20.8%
20.7%
Diluted EPS
$4.92
$4.32
$3.99
+13.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,720
1,510
1,834
+13.9%
Capital expenditure
91.6
111
98.5
-17.7%
Free cash flow
1,629
1,399
1,736
+16.5%
Cash from investing
-14,022
-10,192
-6,901
Cash from financing
11,253
7,537
8,534
+49.3%
Share-based compensation
128
86.8
76.4
+47.5%
Buybacks
523
411
497
+27.2%
Dividends paid
357
333
321
+7.1%
Dividend per share
$1.60
n/a
n/a
Diluted shares, weighted
230m
229m
234m
+0.2%
Shares outstanding at period end
226m
229m
229m
-1.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
10,216
9,770
8,706
+4.6%
Deposits
112,391
101,652
96,869
+10.6%
Debt
12,396
8,893
8,099
+39.4%
Other liabilities
3,588
3,612
3,076
-0.7%
Total liabilities and equity
138,590
123,927
116,750
+11.8%
Fixed assets
465
467
447
-0.4%
Goodwill
606
519
526
+16.6%
Intangible assets
161
41.8
46.5
+286.1%
Securities held for sale or to maturity
46,791
44,501
37,566
+5.1%
Loans
32,461
33,661
32,987
-3.6%
Resale agreements
1,324
1,974
1,614
-32.9%
Trading assets
0.5
0.3
1.2
+66.7%
Cash and equivalents
4,518
5,332
n/a
-15.3%
Other assets
52,264
37,430
43,561
+39.6%
Total assets
138,590
123,927
116,750
+11.8%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.