Northern Trust (NTRS) FY2020 results: revenue $6.1 billion, up 0.5% on the year
Northern Trust Corp. (NTRS) reported revenue of $6.1 billion for fiscal 2020, the year ended 31 December 2020, up 0.5% on the year before. Net income was $1.2 billion, down 19.0%, and diluted earnings per share $5.46. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$6.1 billion
+0.5% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$1.2 billion
-19.0% on the year
FY2013FY2020
Diluted EPS
$5.46
-17.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,101
6,073
5,960
+0.5%
Interest expense
200
822
699
-75.6%
Pre-tax income
1,628
1,944
1,958
-16.3%
Income tax
418
452
401
-7.4%
Effective tax rate
25.7%
23.2%
20.5%
Net income
1,209
1,492
1,556
-19.0%
Net margin
19.8%
24.6%
26.1%
Diluted EPS
$5.46
$6.63
$6.64
-17.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,897
2,592
1,768
-26.8%
Capital expenditure
136
158
97.6
-14.1%
Free cash flow
1,761
2,434
1,670
-27.6%
Cash from investing
-29,923
-3,405
4,327
Cash from financing
27,872
616
-5,818
+4,425.4%
Depreciation and amortisation
500
459
461
+9.0%
Share-based compensation
91.4
108
131
-15.3%
Buybacks
300
1,100
924
-72.8%
Dividends paid
585
530
405
+10.4%
Dividend per share
$2.80
$2.60
$1.94
+7.7%
Diluted shares, weighted
209m
216m
224m
-3.1%
Shares outstanding at period end
208m
210m
219m
-0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
11,688
11,091
10,508
+5.4%
Deposits
143,878
109,121
104,497
+31.9%
Debt
8,901
11,786
14,066
-24.5%
Other liabilities
5,537
4,831
3,142
+14.6%
Total liabilities and equity
170,004
136,828
132,212
+24.2%
Fixed assets
515
483
428
+6.5%
Goodwill
707
697
669
+1.5%
Intangible assets
113
121
139
-6.6%
Securities held for sale or to maturity
59,813
51,161
51,243
+16.9%
Loans
n/a
31,305
32,377
Resale agreements
1,600
713
1,165
+124.5%
Trading assets
0.5
0.3
0.3
+66.7%
Cash and equivalents
4,390
4,459
4,582
-1.6%
Other assets
102,866
47,890
41,609
+114.8%
Total assets
170,004
136,828
132,212
+24.2%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.