Northern Trust (NTRS) FY2023 results: revenue $6.8 billion, up 0.2% on the year
Northern Trust Corp. (NTRS) reported revenue of $6.8 billion for fiscal 2023, the year ended 31 December 2023, up 0.2% on the year before. Net income was $1.1 billion, down 17.1%, and diluted earnings per share $5.08. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$6.8 billion
+0.2% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$1.1 billion
-17.1% on the year
FY2016FY2023
Diluted EPS
$5.08
-17.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,626
2,392
1,356
+9.7%
Capital expenditure
116
129
95.5
-9.4%
Free cash flow
2,509
2,264
1,260
+10.8%
Cash from investing
4,784
25,930
-18,603
-81.5%
Cash from financing
-7,183
-26,437
16,074
Depreciation and amortisation
635
554
516
+14.6%
Share-based compensation
118
125
95.5
-5.6%
Buybacks
348
35.4
268
+881.6%
Dividends paid
622
750
583
-17.2%
Dividend per share
$3.00
$2.90
$2.80
+3.4%
Diluted shares, weighted
208m
209m
209m
-0.6%
Shares outstanding at period end
205m
208m
208m
-1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
11,898
11,260
12,017
+5.7%
Deposits
116,164
123,932
159,928
-6.3%
Debt
17,236
14,847
7,767
+16.1%
Other liabilities
5,485
4,998
4,178
+9.7%
Total liabilities and equity
150,783
155,037
183,890
-2.7%
Fixed assets
502
500
489
+0.3%
Goodwill
702
691
706
+1.6%
Securities held for sale or to maturity
49,312
26,700
38,010
+84.7%
Resale agreements
800
1,100
686
-27.3%
Trading assets
0.0
95.2
0.3
Cash and equivalents
4,792
4,654
3,057
+3.0%
Other assets
94,676
121,296
140,941
-21.9%
Total assets
150,783
155,037
183,890
-2.7%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.