Northern Trust (NTRS)
Financials · $31.8B market cap · SEC CIK 0000073124
$173.40
▼-3.10% on the day
close of Sep 22, 2026
62
Screens well
fundamentals score out of 100
fundamentals score out of 100
Next reports on Oct 21, 2026, before the open, with analysts expecting $2.88 in earnings per share.
The case for NTRS
- 25% of revenue drops through to net profit.
- Revenue growing 15.1% year over year.
- Earnings per share up 36.1%.
- Pays a 3.9% dividend while you wait.
- Reasonably priced at 14.2× earnings.
- A PEG of 0.39: a P/E of 14.2× is low for EPS growing 36%.
The case against
- Weakest against its peers: price/sales of 3.5× is higher than 71% of Financials companies.
- Its weakest area is stability (42/100): beta 1.23, a 38% swing over the year.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 57 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 53 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 81 |
| Momentumhow the price has behaved lately | 70 |
| Stabilityhow violently it moves, what it owes and what it pays you | 42 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 14.2× |
|---|---|
| Price / book | 2.40× |
| Price / sales | 3.5× |
| Revenue growth (YoY) | +15.1% |
| EPS growth (YoY) | +36.1% |
| Gross margin | 100% |
| Operating margin | 33% |
| Net margin | 25% |
| Return on equity | 17% |
| Debt / equity | 12.04× |
| Current ratio | 0.37 |
| Dividend yield | 3.93% |
| Beta | 1.23 |
| 52-week range | $121.12 – $195.78 |
| Position in that range | 70% of the way up |
| 3-month return | +4.0% |
| 1-year return | +36.1% |
Five years of financials, as filed
Pulled from Northern Trust's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $5.0B | $4.7B | $4.4B | $4.4B | $4.4B |
| Net income | $1.7B | $2.0B | $1.1B | $1.3B | $1.5B |
| Operating cash flow | $5.5B | -$486M | $2.6B | $2.4B | $1.4B |
| Capital expenditure | $74.0M | $102M | $117M | $129M | $95.5M |
| Total assets | $177B | $156B | $151B | $155B | $184B |
| Total liabilities | $164B | $143B | $139B | $144B | $172B |
| Shareholder equity | $13.0B | $12.8B | $11.9B | $11.3B | $12.0B |
| Cash | $5.9B | $4.7B | $4.8B | $4.7B | $3.1B |
| Free cash flow | $5.5B | -$588M | $2.5B | $2.3B | $1.3B |
| Net margin | 34.6% | 43.0% | 25.4% | 30.1% | 35.4% |
| Diluted shares | 192M | 202M | 208M | 209M | 209M |
Share count is down 8.0% over 4 years. Buybacks have been shrinking the pie.
Risk factors NTRS lists in its 10-K
- We are dependent on fee-based business for a majority of our revenues, which may be affected adversely by market volatility, a downturn in economic conditions, underperformance and/or negative trends in investment preferences
- Changes in interest rates could affect our earnings negatively
- Changes in the monetary, trade and other policies of various regulatory authorities, central banks, governments and international agencies may reduce our earnings and affect our growth prospects negatively
- Declines in the value of securities held in our investment portfolio could affect us negatively
- Changes in a number of particular market conditions, including in foreign currency exchange rates, cross-border investing activity and the demand for borrowing or lending securities, could affect our earnings negatively
- We are subject to many types of operational risks that could affect our earnings negatively
- Breaches of our security measures, including, but not limited to, those resulting from cyber-attacks
- or other information security incidents, may result in losses
- Our dependence on technology, and the need to update frequently our technology infrastructure, exposes us to risks that also can result in losses
- A failure or circumvention of our controls and procedures could have a material adverse effect on our business, financial condition and results of operations
- Failure of any of our third-party vendors (or their vendors)
- We are subject to certain risks inherent in operating globally which may affect our business adversely
- Failure to control our costs and expenses adequately could affect our earnings negatively
- Pandemics, natural disasters, global climate change, acts of terrorism, geopolitical tensions, and global conflicts may have a negative impact on our business and operations