Northern Trust (NTRS) Financials

$92.51 +0.92 (+1.00%)

Closing price 04/28/2025 04:00 PM Eastern

Extended Trading

$94.12 +1.61 (+1.74%)

As of 06:42 AM Eastern

Annual Income Statements for Northern Trust

This table shows Northern Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	950	1,009	1,149	1,510	1,446	1,153	1,504	1,294	1,066	1,989
Consolidated Net Income / (Loss)	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
Net Income / (Loss) Continuing Operations	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
Total Pre-Tax Income	1,465	1,517	1,634	1,958	1,944	1,628	2,010	1,766	1,465	2,660
Total Revenue	4,703	4,962	5,375	5,960	6,073	6,101	6,465	6,761	6,774	8,290
Net Interest Income / (Expense)	1,070	1,235	1,429	1,623	1,678	1,443	1,383	1,887	1,982	2,177
Total Interest Income	1,224	1,417	1,769	2,321	2,500	1,644	1,407	1,887	7,325	9,762
Investment Securities Interest Income	1,224	1,417	1,769	-	2,500	1,644	1,407	2,878	7,325	9,762
Total Interest Expense	154	182	340	699	822	200	24	0.00	5,343	7,585
Long-Term Debt Interest Expense	154	182	340	699	822	200	24	-	5,343	7,585
Total Non-Interest Income	3,633	3,727	3,946	4,338	4,395	4,658	5,082	4,874	4,792	6,113
Trust Fees by Commissions	3,059	81	90	98	104	133	140	4,569	4,497	4,878
Other Service Charges	312	304	214	179	190	239	288	231	260	1,193
Net Realized & Unrealized Capital Gains on Investments	262	233	208	306	250	290	293	75	34	42
Provision for Credit Losses	-43	-26	-28	-15	-15	125	-82	12	25	-3.00
Total Non-Interest Expense	3,281	3,471	3,769	4,017	4,144	4,348	4,536	4,983	5,284	5,634
Salaries and Employee Benefits	1,729	1,834	2,054	2,164	2,214	2,335	2,011	2,685	2,727	2,889
Net Occupancy & Equipment Expense	628	645	716	783	825	904	945	1,058	1,178	1,292
Other Operating Expenses	924	992	1,000	1,070	1,104	1,110	1,580	1,240	1,379	1,453
Income Tax Expense	491	485	435	401	452	418	465	430	358	628
Preferred Stock Dividends Declared	23	23	50	46	46	56	42	42	42	42
Basic Earnings per Share	$4.03	$4.35	$4.95	$6.68	$6.66	$5.48	$7.16	$6.16	$5.09	$9.80
Weighted Average Basic Shares Outstanding	232.28M	227.58M	228.26M	223.15M	214.53M	208.32M	208.08M	208.31M	207.25M	201.26M
Diluted Earnings per Share	$3.99	$4.32	$4.92	$6.64	$6.63	$5.46	$7.14	$6.14	$5.08	$9.77
Weighted Average Diluted Shares Outstanding	234.22M	229.15M	229.65M	224.49M	215.60M	209.01M	208.90M	208.87M	207.56M	201.87M
Weighted Average Basic & Diluted Shares Outstanding	235.80M	232M	232.20M	218.41M	209.25M	208.31M	207.90M	208.20M	204.84M	195.70M
Cash Dividends to Common per Share	-	-	$1.60	$1.94	$2.60	$2.80	$2.80	$2.90	$3.00	$3.00

This table shows Northern Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	379	151	318	327	312	108	199	891	449	451
Consolidated Net Income / (Loss)	395	156	335	332	328	113	215	896	465	455
Net Income / (Loss) Continuing Operations	395	156	335	332	328	113	215	896	465	455
Total Pre-Tax Income	525	190	444	441	434	146	291	1,174	601	594
Total Revenue	1,755	1,519	1,745	1,757	1,727	1,545	1,647	2,716	1,969	1,960
Net Interest Income / (Expense)	513	535	531	512	456	483	528	523	562	564
Total Interest Income	799	180	1,455	1,735	1,935	2,200	2,446	2,507	2,530	2,280
Investment Securities Interest Income	799	1,170	1,455	1,735	1,935	2,200	2,446	2,507	2,530	2,280
Total Interest Expense	286	-355	924	1,224	1,479	1,717	1,918	1,984	1,968	1,716
Total Non-Interest Income	1,242	985	1,213	1,246	1,270	1,062	1,119	2,193	1,406	1,396
Trust Fees by Commissions	32	4,468	35	36	31	4,395	38	34	36	4,771
Other Service Charges	67	56	55	63	76	66	1,213	934	120	-1,074
Net Realized & Unrealized Capital Gains on Investments	65	-149	53	50	52	-121	-132	58	54	62
Provision for Credit Losses	0.50	5.00	15	-16	14	11	-8.50	8.00	8.00	-11
Total Non-Interest Expense	1,230	1,324	1,286	1,332	1,278	1,389	1,365	1,534	1,359	1,376
Salaries and Employee Benefits	553	1,022	595	605	558	969	728	665	584	912
Net Occupancy & Equipment Expense	264	295	293	283	291	311	307	332	324	329
Other Operating Expenses	413	6.80	397	444	429	109	330	536	452	136
Income Tax Expense	130	35	109	109	107	33	76	278	136	139
Preferred Stock Dividends Declared	16	4.70	16	4.70	16	4.70	16	4.70	16	4.70
Basic Earnings per Share	$1.80	$0.72	$1.51	$1.56	$1.49	$0.53	$0.96	$4.35	$2.23	$2.26
Weighted Average Basic Shares Outstanding	208.40M	208.31M	208.19M	207.64M	207.02M	207.25M	204.63M	203.31M	199.94M	201.26M
Diluted Earnings per Share	$1.80	$0.71	$1.51	$1.56	$1.49	$0.52	$0.96	$4.34	$2.22	$2.25
Weighted Average Diluted Shares Outstanding	208.89M	208.87M	208.73M	207.82M	207.25M	207.56M	205.13M	203.74M	200.55M	201.87M
Weighted Average Basic & Diluted Shares Outstanding	208.42M	208.20M	208.34M	207.00M	207.04M	204.84M	204.59M	201.64M	198.22M	195.70M

This table details how cash moves in and out of Northern Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	3,398	-1,087	-814	64	-122	-70	-1,333	1,597	137	-114
Net Cash From Operating Activities	1,834	1,510	1,720	1,768	2,592	1,897	1,356	2,392	2,626	-486
Net Cash From Continuing Operating Activities	1,845	1,510	1,720	1,768	2,592	1,897	1,356	2,392	2,626	-486
Net Income / (Loss) Continuing Operations	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
Consolidated Net Income / (Loss)	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
Provision For Loan Losses	-43	-26	-28	-15	-15	125	-82	12	25	-3.00
Depreciation Expense	90	89	101	461	459	500	516	554	635	717
Amortization Expense	325	385	426	96	65	89	100	59	3.00	-35
Non-Cash Adjustments to Reconcile Net Income	-167	-185	-89	-74	30	1.20	-8.90	-166	101	-2.00
Changes in Operating Assets and Liabilities, net	666	215	112	-258	561	-28	-714	598	755	-3,194
Net Cash From Investing Activities	-6,900	-10,192	-14,022	4,327	-3,405	-29,923	-18,603	25,930	4,784	-2,564
Net Cash From Continuing Investing Activities	-6,900	-10,192	-14,022	4,327	-3,405	-29,923	-18,603	25,930	4,784	-2,564
Purchase of Property, Leasehold Improvements and Equipment	-434	-473	-473	-506	-600	-560	-515	-724	-676	-746
Purchase of Investment Securities	-20,303	-21,670	-35,140	-34,164	-31,686	-72,524	-85,346	-16,856	-38,562	-40,624
Sale and/or Maturity of Investments	14,992	15,344	21,505	30,354	27,931	43,383	68,060	43,284	42,484	38,671
Net Increase in Fed Funds Sold	-550	-373	679	-113	129	5.00	0.00	-32	32	-25
Other Investing Activities, net	-605	-3,019	-593	8,756	821	-227	-801	258	1,506	160
Net Cash From Financing Activities	8,534	7,537	11,253	-5,818	616	27,872	16,074	-26,437	-7,183	3,440
Net Cash From Continuing Financing Activities	8,534	7,537	11,253	-5,818	616	27,872	16,074	-26,437	-7,183	3,440
Net Change in Deposits	8,106	6,737	8,524	-6,163	4,264	32,138	17,886	-32,997	-8,478	6,331
Issuance of Debt	2,313	0.00	1,318	2,360	498	-1,705	-427	5,956	941	-104
Repayment of Debt	-231	1,067	-209	-314	-1,185	-509	-779	-500	0.00	0.00
Repurchase of Common Equity	-497	-411	-523	-924	-1,100	-300	-268	-35	-348	-938
Payment of Dividends	-348	-356	-407	-452	-576	-631	-625	-797	-663	-644
Other Financing Activities, Net	-808	6.70	2,550	-325	-1,677	-722	286	1,936	1,366	-1,206
Effect of Exchange Rate Changes	-71	59	235	-213	75	85	-160	-287	-90	-504
Cash Interest Paid	162	182	329	670	846	227	31	822	5,286	7,610
Cash Income Taxes Paid	390	754	441	494	437	328	371	460	363	269

This table details how cash moves in and out of Northern Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-627	161	172	72	58	-164	517	1,258	305	-2,195
Net Cash From Operating Activities	-896	4,152	-165	-99	87	2,803	-1,453	2,990	611	-2,635
Net Cash From Continuing Operating Activities	-896	4,152	-165	-99	87	2,803	-1,453	2,990	611	-2,635
Net Income / (Loss) Continuing Operations	395	156	335	332	328	113	215	896	465	455
Consolidated Net Income / (Loss)	395	156	335	332	328	113	215	896	465	455
Provision For Loan Losses	0.50	5.00	15	-16	14	11	-8.50	8.00	8.00	-11
Depreciation Expense	141	148	155	153	158	169	170	181	183	183
Amortization Expense	17	7.70	7.00	-2.70	1.50	-2.80	-7.70	-9.40	-7.50	-11
Non-Cash Adjustments to Reconcile Net Income	0.30	-146	-23	-	-	124	-19	-0.10	-	17
Changes in Operating Assets and Liabilities, net	-1,449	3,981	-653	-566	-414	2,389	-1,803	1,915	-37	-3,269
Net Cash From Investing Activities	-3,452	4,156	4,919	-5,351	10,079	-4,863	-4,793	951	3,487	-2,208
Net Cash From Continuing Investing Activities	-3,452	4,156	4,919	-5,351	10,079	-4,863	-4,793	951	3,487	-2,208
Purchase of Property, Leasehold Improvements and Equipment	-179	-228	-129	-171	-165	-210	-128	-182	-209	-227
Purchase of Investment Securities	-12,674	-4,438	-9,231	-14,223	97	-15,204	-17,686	-5,857	-5,919	-11,162
Sale and/or Maturity of Investments	10,218	7,396	13,879	8,206	9,861	10,537	12,930	7,063	9,765	8,914
Net Increase in Fed Funds Sold	-20	-1.90	-	-	-	64	-	-	-	-25
Other Investing Activities, net	-798	1,428	400	869	285	-50	91	-72	-151	292
Net Cash From Financing Activities	3,904	-8,281	-4,598	5,669	-9,962	1,708	6,936	-2,638	-4,011	3,152
Net Cash From Continuing Financing Activities	3,904	-8,281	-4,598	5,669	-9,962	1,708	6,936	-2,638	-4,011	3,152
Net Change in Deposits	-2,826	-6,880	-10,478	-576	-2,036	4,611	7,983	-2,392	-3,479	4,218
Issuance of Debt	3,566	1,395	3,766	1,022	-2,788	-1,059	-31	240	-209	-104
Repayment of Debt	-423	-	-	-	-	717	-	-	-	-250
Repurchase of Common Equity	-1.20	-0.10	-101	-99	-1.10	-146	-132	-251	-301	-254
Payment of Dividends	-151	-334	-173	-160	-172	-159	-170	-157	-165	-152
Other Financing Activities, Net	3,738	-2,462	2,388	5,482	-4,248	-2,256	-715	-79	-106	-307
Effect of Exchange Rate Changes	-183	134	15	-148	-145	188	-173	-45	217	-504
Cash Income Taxes Paid	131	165	31	79	101	151	39	66	80	83

This table presents Northern Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	116,750	123,927	138,591	132,213	136,828	170,004	183,890	155,037	150,783	155,508
Cash and Due from Banks	6,419	5,332	4,518	4,582	4,459	4,390	3,057	4,654	4,792	4,677
Federal Funds Sold	1,614	1,974	1,324	1,165	5.00	-	0.00	32	0.00	25
Interest Bearing Deposits at Other Banks	6,872	4,801	5,612	4,264	4,877	4,373	1,949	1,941	1,939	1,945
Trading Account Securities	37,567	44,501	46,792	51,243	51,869	61,410	62,262	52,902	50,096	51,724
Loans and Leases, Net of Allowance	0.00	0.00	32,592	32,490	31,410	33,760	40,481	42,893	47,617	43,391
Loans and Leases	-	-	32,592	32,490	31,410	33,760	40,481	42,893	47,617	43,391
Premises and Equipment, Net	447	467	465	428	483	515	489	501	502	490
Goodwill	526	519	606	669	697	707	706	691	702	695
Other Assets	63,304	66,333	46,682	37,371	43,029	64,850	74,946	51,423	45,135	52,562
Total Liabilities & Shareholders' Equity	116,750	123,927	138,591	132,213	136,828	170,004	183,890	155,037	150,783	155,508
Total Liabilities	108,044	114,157	128,374	121,704	125,737	158,316	171,873	143,777	138,885	142,720
Non-Interest Bearing Deposits	30,155	30,163	28,591	22,728	26,292	43,111	48,316	25,340	22,831	24,354
Interest Bearing Deposits	66,714	71,489	83,800	81,769	82,829	100,767	111,613	98,592	93,333	98,129
Federal Funds Purchased and Securities Sold	352	205	2,286	2,594	553	260	0.20	1,897	3,045	2,160
Short-Term Debt	547	474	6,885	8,070	490	40	4,116	567	785	6,983
Long-Term Debt	6,924	7,937	2,947	3,124	10,466	8,323	3,651	12,383	13,406	6,851
Other Long-Term Liabilities	3,353	3,889	3,866	3,420	5,108	5,814	4,178	4,998	5,485	4,244
Total Equity & Noncontrolling Interests	8,706	9,770	10,216	10,508	11,091	11,688	12,017	11,260	11,898	12,788
Total Preferred & Common Equity	8,706	9,770	10,216	10,508	11,091	11,688	12,017	11,260	11,898	12,788
Preferred Stock	389	882	-	-	1,273	885	885	885	885	885
Total Common Equity	8,317	8,888	10,216	10,508	9,818	10,803	11,132	10,375	11,013	11,904
Common Stock	1,481	1,444	1,456	1,477	1,422	1,372	1,348	1,392	1,418	1,434
Retained Earnings	8,243	8,908	9,685	10,777	11,657	12,208	13,117	13,799	14,234	15,615
Treasury Stock	-1,034	-1,094	-1,392	-2,174	-3,066	-3,205	-3,298	-3,247	-3,501	-4,331
Accumulated Other Comprehensive Income / (Loss)	-373	-370	-414	-454	-195	428	-36	-1,569	-1,138	-814

This table presents Northern Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	159,840	155,037	151,108	156,753	146,331	150,783	156,111	156,797	155,754	155,508
Cash and Due from Banks	4,493	4,654	4,826	4,898	4,956	4,792	5,309	6,567	6,872	4,677
Federal Funds Sold	30	32	0.00	0.00	0.00	0.00	-	-	-	25
Interest Bearing Deposits at Other Banks	1,542	1,941	1,588	1,479	2,123	1,939	1,372	1,381	1,607	1,945
Trading Account Securities	53,395	52,902	50,401	51,500	24,727	50,096	49,637	50,520	52,002	51,724
Loans and Leases, Net of Allowance	43,992	42,893	0.00	43,547	68,497	47,617	47,343	42,135	41,950	43,391
Loans and Leases	43,992	42,893	-	43,547	68,497	47,617	47,343	42,135	41,950	43,391
Premises and Equipment, Net	469	501	482	474	465	502	488	481	480	490
Goodwill	679	691	695	699	693	702	698	697	708	695
Other Assets	55,239	51,423	93,116	54,157	44,871	45,135	51,265	55,016	52,135	52,562
Total Liabilities & Shareholders' Equity	159,840	155,037	151,108	156,753	146,331	150,783	156,111	156,797	155,754	155,508
Total Liabilities	148,809	143,777	139,520	145,117	134,483	138,885	144,009	144,141	143,005	142,720
Non-Interest Bearing Deposits	27,858	25,340	23,414	21,326	20,938	22,831	25,327	20,926	22,175	24,354
Interest Bearing Deposits	100,689	98,592	90,314	91,877	89,228	93,333	98,615	102,065	99,009	98,129
Federal Funds Purchased and Securities Sold	4,365	1,897	4,487	9,345	5,539	3,045	2,601	2,406	2,762	2,160
Short-Term Debt	7,715	567	363	13,370	546	785	7,038	629	171	6,983
Long-Term Debt	3,776	12,383	16,205	4,791	13,621	13,406	6,813	13,641	13,801	6,851
Other Long-Term Liabilities	4,406	4,998	4,737	4,408	4,612	5,485	3,617	4,474	5,088	4,244
Total Equity & Noncontrolling Interests	11,030	11,260	11,588	11,636	11,847	11,898	12,102	12,656	12,749	12,788
Total Preferred & Common Equity	11,030	11,260	11,588	11,636	11,847	11,898	12,102	12,656	12,749	12,788
Preferred Stock	885	885	885	885	885	885	885	885	885	885
Total Common Equity	10,146	10,375	10,703	10,751	10,962	11,013	11,217	11,771	11,864	11,904
Common Stock	1,372	1,392	1,373	1,389	1,402	1,418	1,392	1,406	1,417	1,434
Retained Earnings	13,806	13,799	13,958	14,128	14,282	14,234	14,279	15,016	15,313	15,615
Treasury Stock	-3,248	-3,247	-3,262	-3,360	-3,358	-3,501	-3,537	-3,786	-4,086	-4,331
Accumulated Other Comprehensive Income / (Loss)	-1,785	-1,569	-1,366	-1,406	-1,363	-1,138	-918	-865	-780	-814

This table displays calculated financial ratios and metrics derived from Northern Trust's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.58%	5.51%	8.33%	10.88%	1.89%	0.46%	5.96%	4.59%	0.18%	22.39%
EBITDA Growth	40.87%	5.88%	8.50%	16.38%	-1.87%	-10.16%	18.43%	-9.38%	-11.63%	58.92%
EBIT Growth	23.09%	3.56%	7.70%	19.82%	-0.70%	-16.28%	23.50%	-12.13%	-17.07%	81.56%
NOPAT Growth	19.96%	6.03%	16.13%	29.81%	-4.12%	-18.96%	27.78%	-13.54%	-17.12%	83.43%
Net Income Growth	19.96%	6.03%	16.13%	29.81%	-4.12%	-18.96%	27.78%	-13.54%	-17.12%	83.43%
EPS Growth	20.18%	8.27%	13.89%	34.96%	-0.15%	-17.65%	30.77%	-14.01%	-17.26%	92.32%
Operating Cash Flow Growth	95.98%	-17.68%	13.93%	2.74%	46.65%	-26.82%	-28.51%	76.43%	9.75%	-118.51%
Free Cash Flow Firm Growth	-238.36%	9.23%	31.30%	85.40%	1,277.03%	179.24%	-43.43%	-270.43%	75.02%	293.98%
Invested Capital Growth	14.47%	12.39%	10.27%	8.25%	1.59%	-9.05%	-1.33%	22.37%	7.76%	2.05%
Revenue Q/Q Growth	0.57%	1.74%	-10.42%	17.50%	0.73%	-0.42%	2.30%	-2.14%	0.39%	5.26%
EBITDA Q/Q Growth	15.41%	3.12%	-26.20%	52.13%	-0.38%	-3.47%	5.63%	-11.87%	-1.61%	15.75%
EBIT Q/Q Growth	0.32%	2.65%	-31.81%	78.10%	-0.49%	-5.95%	7.27%	-15.31%	-2.95%	20.28%
NOPAT Q/Q Growth	-0.48%	2.71%	8.13%	3.55%	-2.53%	-9.72%	11.99%	-15.80%	-3.70%	20.27%
Net Income Q/Q Growth	-0.48%	2.71%	8.13%	3.55%	-2.53%	-9.72%	11.99%	-15.80%	-3.70%	20.27%
EPS Q/Q Growth	0.25%	2.86%	8.85%	4.57%	-1.34%	-9.60%	12.44%	-16.46%	-3.61%	21.52%
Operating Cash Flow Q/Q Growth	1,153.86%	-25.33%	0.71%	-18.14%	83.22%	-7.78%	71.56%	747.47%	-33.94%	-109.81%
Free Cash Flow Firm Q/Q Growth	-7.18%	-309.01%	66.79%	-155.49%	807.19%	113.48%	-12.59%	-466.21%	67.05%	52.58%
Invested Capital Q/Q Growth	-0.40%	8.34%	0.73%	2.23%	-2.59%	-10.77%	-9.16%	7.50%	0.29%	-0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.99%	40.13%	40.20%	42.19%	40.63%	36.34%	40.61%	35.19%	31.04%	40.30%
EBIT Margin	31.15%	30.58%	30.40%	32.85%	32.01%	26.68%	31.09%	26.12%	21.63%	32.08%
Profit (Net Income) Margin	20.71%	20.81%	22.31%	26.11%	24.57%	19.82%	23.90%	19.76%	16.35%	24.50%
Tax Burden Percent	66.47%	68.06%	73.38%	79.50%	76.76%	74.30%	76.88%	75.64%	75.59%	76.37%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	33.53%	31.94%	26.62%	20.50%	23.24%	25.70%	23.12%	24.36%	24.41%	23.63%
Return on Invested Capital (ROIC)	6.43%	6.01%	6.27%	7.46%	6.82%	5.75%	7.76%	6.07%	4.40%	7.71%
ROIC Less NNEP Spread (ROIC-NNEP)	6.43%	6.01%	6.27%	7.46%	6.82%	5.75%	7.76%	6.07%	4.40%	7.71%
Return on Net Nonoperating Assets (RNNOA)	5.19%	5.17%	5.73%	7.56%	7.00%	4.87%	5.28%	5.41%	5.16%	8.75%
Return on Equity (ROE)	11.62%	11.18%	12.00%	15.02%	13.82%	10.62%	13.04%	11.48%	9.56%	16.46%
Cash Return on Invested Capital (CROIC)	-7.07%	-5.66%	-3.49%	-0.47%	5.25%	15.22%	9.10%	-14.05%	-3.07%	5.68%
Operating Return on Assets (OROA)	1.29%	1.26%	1.24%	1.45%	1.45%	1.06%	1.14%	1.04%	0.96%	1.74%
Return on Assets (ROA)	0.86%	0.86%	0.91%	1.15%	1.11%	0.79%	0.87%	0.79%	0.72%	1.33%
Return on Common Equity (ROCE)	11.35%	10.41%	11.47%	15.02%	13.00%	9.61%	12.06%	10.61%	8.83%	15.28%
Return on Equity Simple (ROE_SIMPLE)	11.19%	10.57%	11.74%	14.81%	13.45%	10.35%	12.86%	11.87%	9.31%	15.88%
Net Operating Profit after Tax (NOPAT)	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
NOPAT Margin	20.71%	20.81%	22.31%	26.11%	24.57%	19.82%	23.90%	19.76%	16.35%	24.50%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	50.12%	49.97%	51.52%	49.44%	50.04%	53.08%	45.73%	55.36%	57.65%	50.43%
Operating Expenses to Revenue	69.76%	69.95%	70.12%	67.40%	68.23%	71.27%	70.17%	73.70%	78.01%	67.96%
Earnings before Interest and Taxes (EBIT)	1,465	1,517	1,634	1,958	1,944	1,628	2,010	1,766	1,465	2,660
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,881	1,991	2,161	2,515	2,468	2,217	2,625	2,379	2,102	3,341
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.62	1.88	1.87	1.51	2.02	1.64	2.09	1.66	1.54	1.79
Price to Tangible Book Value (P/TBV)	1.73	1.99	1.99	1.61	2.18	1.75	2.23	1.77	1.65	1.91
Price to Revenue (P/Rev)	2.87	3.36	3.56	2.67	3.27	2.90	3.59	2.54	2.51	2.58
Price to Earnings (P/E)	14.21	16.53	16.64	10.52	13.73	15.34	15.46	13.28	15.96	10.74
Dividend Yield	2.41%	2.01%	1.90%	2.70%	2.77%	3.29%	2.50%	3.52%	3.68%	2.93%
Earnings Yield	7.04%	6.05%	6.01%	9.50%	7.28%	6.52%	6.47%	7.53%	6.27%	9.31%
Enterprise Value to Invested Capital (EV/IC)	0.40	0.76	0.87	0.79	1.03	0.91	1.36	1.01	0.97	1.11
Enterprise Value to Revenue (EV/Rev)	1.37	2.79	3.26	2.86	3.74	2.98	4.16	3.61	3.74	3.55
Enterprise Value to EBITDA (EV/EBITDA)	3.43	6.96	8.10	6.79	9.22	8.20	10.24	10.25	12.06	8.81
Enterprise Value to EBIT (EV/EBIT)	4.41	9.14	10.71	8.72	11.70	11.17	13.37	13.81	17.31	11.07
Enterprise Value to NOPAT (EV/NOPAT)	6.63	13.43	14.60	10.97	15.24	15.03	17.40	18.25	22.89	14.49
Enterprise Value to Operating Cash Flow (EV/OCF)	3.52	9.18	10.18	9.66	8.77	9.58	19.83	10.19	9.65	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	19.82	5.67	14.83	0.00	0.00	19.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	0.86	0.96	1.07	0.99	0.72	0.65	1.15	1.19	1.08
Long-Term Debt to Equity	0.80	0.81	0.29	0.30	0.94	0.71	0.30	1.10	1.13	0.54
Financial Leverage	0.81	0.86	0.91	1.01	1.03	0.85	0.68	0.89	1.17	1.14
Leverage Ratio	13.52	13.03	13.13	13.07	12.46	13.47	14.93	14.56	13.21	12.41
Compound Leverage Factor	13.52	13.03	13.13	13.07	12.46	13.47	14.93	14.56	13.21	12.41
Debt to Total Capital	46.18%	46.26%	49.04%	51.58%	49.69%	41.71%	39.26%	53.49%	54.39%	51.96%
Short-Term Debt to Total Capital	3.38%	2.61%	34.34%	37.19%	2.22%	0.20%	20.80%	2.34%	3.01%	26.23%
Long-Term Debt to Total Capital	42.80%	43.66%	14.70%	14.39%	47.47%	41.51%	18.46%	51.15%	51.39%	25.73%
Preferred Equity to Total Capital	2.40%	4.85%	0.00%	0.00%	5.78%	4.41%	4.47%	3.66%	3.39%	3.32%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.42%	48.89%	50.96%	48.42%	44.53%	53.88%	56.27%	42.85%	42.21%	44.71%
Debt to EBITDA	3.97	4.22	4.55	4.45	4.44	3.77	2.96	5.44	6.75	4.14
Net Debt to EBITDA	-3.95	-1.86	-0.75	0.47	0.65	-0.18	1.05	2.66	3.55	2.15
Long-Term Debt to EBITDA	3.68	3.99	1.36	1.24	4.24	3.75	1.39	5.20	6.38	2.05
Debt to NOPAT	7.67	8.15	8.20	7.19	7.34	6.92	5.03	9.69	12.82	6.81
Net Debt to NOPAT	-7.63	-3.58	-1.35	0.76	1.08	-0.33	1.79	4.73	6.74	3.54
Long-Term Debt to NOPAT	7.11	7.69	2.46	2.01	7.01	6.88	2.36	9.27	12.11	3.37
Noncontrolling Interest Sharing Ratio	2.32%	6.88%	4.41%	0.00%	5.90%	9.47%	7.47%	7.60%	7.64%	7.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,071	-972	-668	-98	1,148	3,205	1,813	-3,090	-772	1,497
Operating Cash Flow to CapEx	423.16%	318.97%	363.87%	349.31%	432.14%	338.47%	263.25%	330.67%	388.52%	-65.19%
Free Cash Flow to Firm to Interest Expense	-6.96	-5.34	-1.96	-0.14	1.40	16.00	76.17	0.00	-0.14	0.20
Operating Cash Flow to Interest Expense	11.92	8.30	5.06	2.53	3.15	9.47	56.97	0.00	0.49	-0.06
Operating Cash Flow Less CapEx to Interest Expense	9.10	5.70	3.67	1.81	2.42	6.67	35.33	0.00	0.36	-0.16
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.05	0.04	0.04	0.04	0.04	0.05
Fixed Asset Turnover	10.55	10.86	11.54	13.35	13.33	12.22	12.88	13.67	13.51	16.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,176	18,181	20,048	21,702	22,047	20,051	19,784	24,209	26,089	26,622
Invested Capital Turnover	0.31	0.29	0.28	0.29	0.28	0.29	0.32	0.31	0.27	0.31
Increase / (Decrease) in Invested Capital	2,045	2,005	1,867	1,654	345	-1,995	-268	4,426	1,879	534
Enterprise Value (EV)	6,460	13,865	17,505	17,070	22,743	18,176	26,884	24,388	25,350	29,435
Market Capitalization	13,506	16,679	19,128	15,887	19,855	17,690	23,238	17,181	17,005	21,363
Book Value per Share	$35.97	$39.25	$44.92	$47.46	$46.34	$51.91	$53.61	$49.78	$53.19	$60.05
Tangible Book Value per Share	$33.70	$36.96	$42.26	$44.44	$43.05	$48.51	$50.21	$46.46	$49.80	$56.55
Total Capital	16,176	18,181	20,048	21,702	22,047	20,051	19,784	24,209	26,089	26,622
Total Debt	7,470	8,411	9,832	11,194	10,956	8,363	7,767	12,950	14,191	13,834
Total Long-Term Debt	6,924	7,937	2,947	3,124	10,466	8,323	3,651	12,383	13,406	6,851
Net Debt	-7,435	-3,696	-1,622	1,183	1,614	-399	2,761	6,323	7,460	7,187
Capital Expenditures (CapEx)	434	473	473	506	600	560	515	724	676	746
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	7,470	8,411	9,832	11,194	10,956	8,363	7,767	12,950	14,191	13,834
Total Depreciation and Amortization (D&A)	416	474	527	557	524	589	615	613	638	682
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.03	$4.35	$4.95	$6.68	$6.66	$5.48	$7.16	$6.16	$5.09	$9.80
Adjusted Weighted Average Basic Shares Outstanding	232.28M	227.58M	228.26M	223.15M	214.53M	208.32M	208.08M	208.31M	207.25M	201.26M
Adjusted Diluted Earnings per Share	$3.99	$4.32	$4.92	$6.64	$6.63	$5.46	$7.14	$6.14	$5.08	$9.77
Adjusted Weighted Average Diluted Shares Outstanding	234.22M	229.15M	229.65M	224.49M	215.60M	209.01M	208.90M	208.87M	207.56M	201.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$6.66	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	228.98M	228.79M	226.33M	218.41M	209.25M	208.31M	207.90M	208.20M	204.84M	195.70M
Normalized Net Operating Profit after Tax (NOPAT)	974	1,033	1,199	1,556	1,492	1,209	1,545	1,336	1,107	2,031
Normalized NOPAT Margin	20.71%	20.81%	22.31%	26.11%	24.57%	19.82%	23.90%	19.76%	16.35%	24.50%
Pre Tax Income Margin	31.15%	30.58%	30.40%	32.85%	32.01%	26.68%	31.09%	26.12%	21.63%	32.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.52	8.34	4.80	2.80	2.37	8.13	84.46	0.00	0.27	0.35
NOPAT to Interest Expense	6.33	5.67	3.52	2.23	1.82	6.04	64.93	0.00	0.21	0.27
EBIT Less CapEx to Interest Expense	6.70	5.73	3.41	2.08	1.64	5.33	62.82	0.00	0.15	0.25
NOPAT Less CapEx to Interest Expense	3.51	3.07	2.13	1.50	1.09	3.24	43.29	0.00	0.08	0.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.78%	34.52%	33.91%	29.03%	38.61%	52.14%	40.45%	59.63%	59.90%	31.71%
Augmented Payout Ratio	86.80%	74.33%	77.54%	88.42%	112.34%	76.93%	57.77%	62.28%	91.29%	77.88%

This table displays calculated financial ratios and metrics derived from Northern Trust's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.41%	-8.88%	1.51%	-0.66%	-1.61%	1.73%	-5.61%	54.54%	14.02%	26.81%
EBITDA Growth	1.52%	-48.07%	-8.67%	-13.93%	-13.07%	-9.90%	-25.20%	127.45%	30.91%	145.71%
EBIT Growth	1.24%	-62.64%	-13.08%	-18.48%	-17.20%	-23.42%	-34.55%	166.30%	38.41%	307.54%
NOPAT Growth	-0.23%	-61.69%	-14.05%	-16.25%	-16.97%	-27.36%	-35.83%	170.07%	41.82%	302.65%
Net Income Growth	-0.23%	-61.69%	-14.05%	-16.25%	-16.97%	-27.36%	-35.83%	170.07%	41.82%	302.65%
EPS Growth	0.00%	-63.02%	-14.69%	-16.13%	-17.22%	-26.76%	-36.42%	178.21%	48.99%	332.69%
Operating Cash Flow Growth	-285.91%	103.34%	-122.08%	93.83%	109.68%	-32.49%	-780.90%	3,108.35%	604.84%	-193.99%
Free Cash Flow Firm Growth	-131.95%	-733.53%	-426.10%	-519.77%	-808.87%	58.64%	126.65%	138.91%	92.33%	95.56%
Invested Capital Growth	3.41%	22.37%	50.20%	50.61%	15.51%	7.76%	-7.83%	-9.64%	2.72%	2.05%
Revenue Q/Q Growth	-0.79%	-13.44%	14.85%	0.72%	-1.74%	-10.50%	6.57%	64.90%	-27.51%	-0.45%
EBITDA Q/Q Growth	-0.64%	-49.26%	74.96%	-2.43%	0.36%	-47.41%	45.26%	196.71%	-42.24%	-1.30%
EBIT Q/Q Growth	-2.98%	-63.70%	133.19%	-0.74%	-1.45%	-66.43%	99.31%	303.85%	-48.78%	-1.15%
NOPAT Q/Q Growth	-0.35%	-60.56%	114.90%	-0.84%	-1.21%	-65.50%	89.83%	317.37%	-48.12%	-2.04%
Net Income Q/Q Growth	-0.35%	-60.56%	114.90%	-0.84%	-1.21%	-65.50%	89.83%	317.37%	-48.12%	-2.04%
EPS Q/Q Growth	-3.23%	-60.56%	112.68%	3.31%	-4.49%	-65.10%	84.62%	352.08%	-48.85%	1.35%
Operating Cash Flow Q/Q Growth	44.39%	563.55%	-103.97%	39.72%	187.22%	3,133.22%	-151.82%	305.86%	-79.56%	-531.16%
Free Cash Flow Firm Q/Q Growth	-115.10%	-1,126.31%	-112.56%	-6.66%	67.31%	44.19%	236.95%	55.75%	-106.44%	67.68%
Invested Capital Q/Q Growth	13.84%	7.50%	16.30%	5.83%	-12.70%	0.29%	-0.52%	3.75%	-0.76%	-0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	38.89%	22.80%	34.73%	33.65%	34.36%	20.19%	27.52%	49.52%	39.46%	39.12%
EBIT Margin	29.89%	12.53%	25.45%	25.08%	25.15%	9.44%	17.65%	43.22%	30.54%	30.32%
Profit (Net Income) Margin	22.50%	10.25%	19.18%	18.88%	18.99%	7.32%	13.04%	33.00%	23.62%	23.24%
Tax Burden Percent	75.27%	81.78%	75.36%	75.29%	75.48%	77.57%	73.88%	76.35%	77.34%	76.64%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	24.73%	18.22%	24.64%	24.71%	24.52%	22.43%	26.12%	23.65%	22.66%	23.36%
Return on Invested Capital (ROIC)	7.02%	3.15%	5.55%	5.16%	5.28%	1.97%	3.22%	8.88%	7.05%	7.31%
ROIC Less NNEP Spread (ROIC-NNEP)	7.02%	3.15%	5.55%	5.16%	5.28%	1.97%	3.22%	8.88%	7.05%	7.31%
Return on Net Nonoperating Assets (RNNOA)	6.54%	2.80%	5.77%	6.11%	5.92%	2.31%	4.13%	11.86%	8.07%	8.30%
Return on Equity (ROE)	13.56%	5.95%	11.32%	11.27%	11.20%	4.28%	7.35%	20.74%	15.13%	15.61%
Cash Return on Invested Capital (CROIC)	3.81%	-14.05%	-34.67%	-35.48%	-9.65%	-3.07%	11.80%	15.59%	3.72%	5.68%
Operating Return on Assets (OROA)	1.26%	0.50%	1.07%	1.08%	1.11%	0.42%	0.77%	2.10%	1.59%	1.64%
Return on Assets (ROA)	0.95%	0.41%	0.80%	0.81%	0.84%	0.32%	0.57%	1.61%	1.23%	1.26%
Return on Common Equity (ROCE)	12.51%	5.50%	10.88%	10.39%	10.33%	3.95%	6.80%	19.23%	14.04%	14.49%
Return on Equity Simple (ROE_SIMPLE)	14.38%	0.00%	11.06%	10.46%	9.71%	0.00%	8.16%	12.26%	13.25%	0.00%
Net Operating Profit after Tax (NOPAT)	395	156	335	332	328	113	215	896	465	455
NOPAT Margin	22.50%	10.25%	19.18%	18.88%	18.99%	7.32%	13.04%	33.00%	23.62%	23.24%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	46.56%	86.69%	50.91%	50.52%	49.19%	82.81%	62.85%	36.73%	46.12%	63.30%
Operating Expenses to Revenue	70.08%	87.14%	73.69%	75.80%	74.03%	89.85%	82.87%	56.49%	69.06%	70.21%
Earnings before Interest and Taxes (EBIT)	525	190	444	441	434	146	291	1,174	601	594
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	683	346	606	591	593	312	453	1,345	777	767
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.68	1.66	1.65	1.38	1.27	1.54	1.65	1.49	1.58	1.79
Price to Tangible Book Value (P/TBV)	1.80	1.77	1.77	1.48	1.36	1.65	1.76	1.58	1.68	1.91
Price to Revenue (P/Rev)	2.47	2.54	2.60	2.20	2.07	2.51	2.78	2.29	2.38	2.58
Price to Earnings (P/E)	11.03	13.28	14.26	12.66	12.60	15.96	19.60	11.59	11.39	10.74
Dividend Yield	3.49%	3.52%	3.48%	4.20%	4.48%	3.68%	3.37%	3.57%	3.33%	2.93%
Earnings Yield	9.07%	7.53%	7.01%	7.90%	7.93%	6.27%	5.10%	8.63%	8.78%	9.31%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.01	1.02	0.92	0.84	0.97	1.02	0.92	0.94	1.11
Enterprise Value to Revenue (EV/Rev)	3.38	3.61	4.23	4.07	3.25	3.74	3.98	3.24	3.19	3.55
Enterprise Value to EBITDA (EV/EBITDA)	8.65	10.25	12.37	12.38	10.27	12.06	13.64	9.14	8.71	8.81
Enterprise Value to EBIT (EV/EBIT)	11.19	13.81	16.90	17.22	14.54	17.31	20.27	12.09	11.37	11.07
Enterprise Value to NOPAT (EV/NOPAT)	14.71	18.25	22.41	22.64	19.08	22.89	26.93	15.92	14.89	14.49
Enterprise Value to Operating Cash Flow (EV/OCF)	82.69	10.19	19.39	9.21	5.52	9.65	19.87	5.58	5.08	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	27.67	0.00	0.00	0.00	0.00	0.00	8.33	5.59	25.62	19.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.04	1.15	1.43	1.56	1.20	1.19	1.14	1.13	1.10	1.08
Long-Term Debt to Equity	0.34	1.10	1.40	0.41	1.15	1.13	0.56	1.08	1.08	0.54
Financial Leverage	0.93	0.89	1.04	1.18	1.12	1.17	1.28	1.34	1.14	1.14
Leverage Ratio	14.35	14.56	14.07	13.85	13.38	13.21	12.97	12.91	12.28	12.41
Compound Leverage Factor	14.35	14.56	14.07	13.85	13.38	13.21	12.97	12.91	12.28	12.41
Debt to Total Capital	51.02%	53.49%	58.84%	60.95%	54.46%	54.39%	53.37%	53.00%	52.29%	51.96%
Short-Term Debt to Total Capital	34.26%	2.34%	1.29%	44.87%	2.10%	3.01%	27.12%	2.34%	0.64%	26.23%
Long-Term Debt to Total Capital	16.77%	51.15%	57.56%	16.08%	52.36%	51.39%	26.25%	50.66%	51.65%	25.73%
Preferred Equity to Total Capital	3.93%	3.66%	3.14%	2.97%	3.40%	3.39%	3.41%	3.29%	3.31%	3.32%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.05%	42.85%	38.01%	36.08%	42.14%	42.21%	43.22%	43.72%	44.40%	44.71%
Debt to EBITDA	4.26	5.44	7.14	8.16	6.63	6.75	7.10	5.28	4.84	4.14
Net Debt to EBITDA	2.01	2.66	4.37	5.29	3.32	3.55	3.68	2.34	1.90	2.15
Long-Term Debt to EBITDA	1.40	5.20	6.98	2.15	6.37	6.38	3.49	5.05	4.78	2.05
Debt to NOPAT	7.24	9.69	12.93	14.92	12.32	12.82	14.03	9.20	8.27	6.81
Net Debt to NOPAT	3.42	4.73	7.92	9.68	6.16	6.74	7.26	4.07	3.25	3.54
Long-Term Debt to NOPAT	2.38	9.27	12.65	3.94	11.84	12.11	6.90	8.79	8.17	3.37
Noncontrolling Interest Sharing Ratio	7.72%	7.60%	3.85%	7.79%	7.74%	7.64%	7.47%	7.29%	7.20%	7.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-348	-4,270	-9,076	-9,681	-3,165	-1,766	2,419	3,767	-243	-78
Operating Cash Flow to CapEx	-501.23%	1,824.25%	-127.73%	-57.99%	52.55%	1,332.95%	-1,136.62%	1,640.32%	292.53%	-1,163.27%
Free Cash Flow to Firm to Interest Expense	-1.22	0.00	-9.82	-7.91	-2.14	-1.03	1.26	1.90	-0.12	-0.05
Operating Cash Flow to Interest Expense	-3.13	0.00	-0.18	-0.08	0.06	1.63	-0.76	1.51	0.31	-1.54
Operating Cash Flow Less CapEx to Interest Expense	-3.75	0.00	-0.32	-0.22	-0.05	1.51	-0.82	1.42	0.20	-1.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05
Fixed Asset Turnover	14.35	13.67	14.03	14.26	14.44	13.51	13.77	15.99	16.66	16.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,521	24,209	28,156	29,797	26,014	26,089	25,952	26,926	26,721	26,622
Invested Capital Turnover	0.31	0.31	0.29	0.27	0.28	0.27	0.25	0.27	0.30	0.31
Increase / (Decrease) in Invested Capital	743	4,426	9,411	10,013	3,493	1,879	-2,204	-2,871	708	534
Enterprise Value (EV)	23,343	24,388	28,714	27,551	21,940	25,350	26,587	24,710	25,142	29,435
Market Capitalization	17,033	17,181	17,675	14,882	13,967	17,005	18,532	17,503	18,764	21,363
Book Value per Share	$48.69	$49.78	$51.41	$51.60	$52.96	$53.19	$54.82	$57.53	$58.84	$60.05
Tangible Book Value per Share	$45.43	$46.46	$48.07	$48.25	$49.61	$49.80	$51.41	$54.12	$55.33	$56.55
Total Capital	22,521	24,209	28,156	29,797	26,014	26,089	25,952	26,926	26,721	26,622
Total Debt	11,491	12,950	16,568	18,161	14,166	14,191	13,850	14,270	13,972	13,834
Total Long-Term Debt	3,776	12,383	16,205	4,791	13,621	13,406	6,813	13,641	13,801	6,851
Net Debt	5,426	6,323	10,154	11,784	7,088	7,460	7,169	6,322	5,494	7,187
Capital Expenditures (CapEx)	179	228	129	171	165	210	128	182	209	227
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	11,491	12,950	16,568	18,161	14,166	14,191	13,850	14,270	13,972	13,834
Total Depreciation and Amortization (D&A)	158	156	162	151	159	166	163	171	176	172
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.80	$0.72	$1.51	$1.56	$1.49	$0.53	$0.96	$4.35	$2.23	$2.26
Adjusted Weighted Average Basic Shares Outstanding	208.40M	208.31M	208.19M	207.64M	207.02M	207.25M	204.63M	203.31M	199.94M	201.26M
Adjusted Diluted Earnings per Share	$1.80	$0.71	$1.51	$1.56	$1.49	$0.52	$0.96	$4.34	$2.22	$2.25
Adjusted Weighted Average Diluted Shares Outstanding	208.89M	208.87M	208.73M	207.82M	207.25M	207.56M	205.13M	203.74M	200.55M	201.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	208.42M	208.20M	208.34M	207.00M	207.04M	204.84M	204.59M	201.64M	198.22M	195.70M
Normalized Net Operating Profit after Tax (NOPAT)	395	156	335	332	328	113	215	896	465	455
Normalized NOPAT Margin	22.50%	10.25%	19.18%	18.88%	18.99%	7.32%	13.04%	33.00%	23.62%	23.24%
Pre Tax Income Margin	29.89%	12.53%	25.45%	25.08%	25.15%	9.44%	17.65%	43.22%	30.54%	30.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.83	0.00	0.48	0.36	0.29	0.08	0.15	0.59	0.31	0.35
NOPAT to Interest Expense	1.38	0.00	0.36	0.27	0.22	0.07	0.11	0.45	0.24	0.27
EBIT Less CapEx to Interest Expense	1.21	0.00	0.34	0.22	0.18	-0.04	0.08	0.50	0.20	0.21
NOPAT Less CapEx to Interest Expense	0.75	0.00	0.22	0.13	0.11	-0.06	0.05	0.36	0.13	0.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.38%	59.63%	63.94%	67.15%	72.88%	59.90%	66.88%	42.33%	38.53%	31.71%
Augmented Payout Ratio	41.72%	62.28%	71.93%	83.70%	90.39%	91.29%	105.23%	76.50%	87.70%	77.88%

Frequently Asked Questions About Northern Trust's Financials

When does Northern Trust's financial year end?

According to the most recent income statement we have on file, Northern Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Northern Trust's net income changed over the last 9 years?

Northern Trust's net income appears to be on an upward trend, with a most recent value of $2.03 billion in 2024, rising from $973.80 million in 2015. The previous period was $1.11 billion in 2023.

How has Northern Trust revenue changed over the last 9 years?

Over the last 9 years, Northern Trust's total revenue changed from $4.70 billion in 2015 to $8.29 billion in 2024, a change of 76.3%.

How much debt does Northern Trust have?

Northern Trust's total liabilities were at $142.72 billion at the end of 2024, a 2.8% increase from 2023, and a 32.1% increase since 2015.

How much cash does Northern Trust have?

In the past 9 years, Northern Trust's cash and equivalents has ranged from $3.06 billion in 2021 to $6.42 billion in 2015, and is currently $4.68 billion as of their latest financial filing in 2024.

How has Northern Trust's book value per share changed over the last 9 years?

Over the last 9 years, Northern Trust's book value per share changed from 35.97 in 2015 to 60.05 in 2024, a change of 66.9%.

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This page (NASDAQ:NTRS) was last updated on 4/29/2025 by MarketBeat.com Staff

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Northern Trust (NTRS) Financials

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Northern Trust (NTRS) Financials

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