Northern Trust (NTRS) FY2019 results: revenue $6.1 billion, up 1.9% on the year
Northern Trust Corp. (NTRS) reported revenue of $6.1 billion for fiscal 2019, the year ended 31 December 2019, up 1.9% on the year before. Net income was $1.5 billion, down 4.1%, and diluted earnings per share $6.63. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$6.1 billion
+1.9% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.5 billion
-4.1% on the year
FY2012FY2019
Diluted EPS
$6.63
-0.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,073
5,960
5,375
+1.9%
Interest expense
822
699
340
+17.6%
Pre-tax income
1,944
1,958
1,634
-0.7%
Income tax
452
401
435
+12.6%
Effective tax rate
23.2%
20.5%
26.6%
Net income
1,492
1,556
1,199
-4.1%
Net margin
24.6%
26.1%
22.3%
Diluted EPS
$6.63
$6.64
$4.92
-0.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,592
1,768
1,720
+46.6%
Capital expenditure
158
97.6
91.6
+61.9%
Free cash flow
2,434
1,670
1,629
+45.8%
Cash from investing
-3,405
4,327
-14,022
Cash from financing
616
-5,818
11,253
Depreciation and amortisation
459
461
n/a
-0.4%
Share-based compensation
108
131
128
-17.6%
Buybacks
1,100
924
523
+19.0%
Dividends paid
530
405
357
+30.7%
Dividend per share
$2.60
$1.94
$1.60
+34.0%
Diluted shares, weighted
216m
224m
230m
-4.0%
Shares outstanding at period end
210m
219m
226m
-4.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
11,091
10,508
10,216
+5.5%
Deposits
109,121
104,497
112,391
+4.4%
Debt
11,786
14,066
12,396
-16.2%
Other liabilities
4,831
3,142
3,588
+53.7%
Total liabilities and equity
136,828
132,212
138,590
+3.5%
Fixed assets
483
428
465
+12.9%
Goodwill
697
669
606
+4.1%
Intangible assets
121
139
161
-13.0%
Securities held for sale or to maturity
51,161
51,243
46,791
-0.2%
Loans
31,305
32,377
32,461
-3.3%
Resale agreements
713
1,165
1,324
-38.8%
Trading assets
0.3
0.3
0.5
0.0%
Cash and equivalents
4,459
4,582
4,518
-2.7%
Other assets
47,890
41,609
52,264
+15.1%
Total assets
136,828
132,212
138,590
+3.5%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.