Northern Trust (NTRS) FY2018 results: revenue $6.0 billion, up 10.9% on the year
Northern Trust Corp. (NTRS) reported revenue of $6.0 billion for fiscal 2018, the year ended 31 December 2018, up 10.9% on the year before. Net income was $1.6 billion, up 29.8%, and diluted earnings per share $6.64. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$6.0 billion
+10.9% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$1.6 billion
+29.8% on the year
FY2011FY2018
Diluted EPS
$6.64
+35.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,960
5,375
4,962
+10.9%
Interest expense
699
340
182
+105.4%
Pre-tax income
1,958
1,634
1,517
+19.8%
Income tax
401
435
485
-7.7%
Effective tax rate
20.5%
26.6%
31.9%
Net income
1,556
1,199
1,032
+29.8%
Net margin
26.1%
22.3%
20.8%
Diluted EPS
$6.64
$4.92
$4.32
+35.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,768
1,720
1,510
+2.7%
Capital expenditure
97.6
91.6
111
+6.6%
Free cash flow
1,670
1,629
1,399
+2.5%
Cash from investing
4,327
-14,022
-10,192
Cash from financing
-5,818
11,253
7,537
Depreciation and amortisation
461
n/a
n/a
Share-based compensation
131
128
86.8
+2.3%
Buybacks
924
523
411
+76.7%
Dividends paid
405
357
333
+13.6%
Dividend per share
$1.94
$1.60
n/a
+21.2%
Diluted shares, weighted
224m
230m
229m
-2.2%
Shares outstanding at period end
219m
226m
229m
-3.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
10,508
10,216
9,770
+2.9%
Deposits
104,497
112,391
101,652
-7.0%
Debt
14,066
12,396
8,893
+13.5%
Other liabilities
3,142
3,588
3,612
-12.4%
Total liabilities and equity
132,212
138,590
123,927
-4.6%
Fixed assets
428
465
467
-7.8%
Goodwill
669
606
519
+10.5%
Intangible assets
139
161
41.8
-14.1%
Securities held for sale or to maturity
51,243
46,791
44,501
+9.5%
Loans
32,377
32,461
33,661
-0.3%
Resale agreements
1,165
1,324
1,974
-12.0%
Trading assets
0.3
0.5
0.3
-40.0%
Cash and equivalents
4,582
4,518
5,332
+1.4%
Other assets
41,609
52,264
37,430
-20.4%
Total assets
132,212
138,590
123,927
-4.6%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.