Northern Trust Corporation (NTRSO) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Oct 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NTRSO SEC filings page.
Northern Trust Corporation (NTRSO) reported $9.3B in revenue over the twelve months to Sep 30, 2026, up 17.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business operates with a thin equity cushion: liabilities are 92.7% of assets while cash conversion swings sharply between years.
The earnings-to-cash relationship is unstable: FY2024 reported net income of$2.03B alongside operating cash flow of-$486M . In FY2025, operating cash flow reached$5.53B against net income of$1.74B , showing that accounting earnings alone do not describe annual cash generation.
FY2025 liabilities were
Capital intensity is low: FY2025 capital expenditures were
Financial Health Signals
Northern Trust Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Northern Trust Corporation passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
For every $1 of reported earnings, Northern Trust Corporation generates $3.19 in operating cash flow ($5.5B OCF vs $1.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Northern Trust Corporation generated $2.3B in revenue in Q3 2026. This represents an increase of 13.3% from the same quarter a year earlier. Against the prior quarter it is down 15.0%.
Northern Trust Corporation reported $642.9M in net income in Q3 2026. This represents an increase of 40.5% from the same quarter a year earlier. Against the prior quarter it is down 18.8%.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Northern Trust Corporation generated $1.8B in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 253.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Northern Trust Corporation held $6.4B in cash as of Q3 2026; no long-term debt figure is on record for that period.
Northern Trust Corporation paid $0.88 per share in dividends in Q3 2026. This represents an increase of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 10.0%.
Margins & Returns
Northern Trust Corporation's net profit margin was 28.0% in Q3 2026, showing the share of revenue converted to profit. This is up 5.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.
Northern Trust Corporation's quarterly ROE was 4.8% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
Northern Trust Corporation spent $352.3M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 27.2% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
Northern Trust Corporation invested $22.2M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 35.4% from the same quarter a year earlier. Against the prior quarter it is down 12.6%.
Not reported for Q3 2026.
NTRSO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B+13.3% | $2.7B+35.0% | $2.2B+13.7% | $2.1B+8.3% | $2.0B+2.9% | $2.0B-26.4% | $1.9B+17.8% | $2.0B+26.8% |
| Interest Expense | $1.4B-9.8% | $1.5B-5.5% | $1.6B+0.5% | $1.5B-13.5% | $1.6B-21.1% | $1.6B-19.2% | $1.6B-18.0% | $1.7B0.0% |
| Income Tax | $153.6M-5.1% | $272.5M+89.9% | $175.1M+35.3% | $167.8M+20.9% | $161.9M+18.9% | $143.5M-48.3% | $129.4M+70.5% | $138.8M+324.5% |
| Net Income | $642.9M+40.5% | $792.2M+88.0% | $525.5M+34.1% | $466.0M+2.3% | $457.6M-1.6% | $421.3M-53.0% | $392.0M+82.6% | $455.4M+302.7% |
| EPS (Basic) | N/A | N/A | $2.72+42.4% | $2.44+7.5% | $2.30+3.1% | $2.14-50.8% | $1.91+99.0% | $2.27+328.3% |
| EPS (Diluted) | N/A | N/A | $2.71+42.6% | $2.42+7.1% | $2.29+3.2% | $2.13-50.9% | $1.90+97.9% | $2.26+334.6% |
| Diluted Shares (Avg) | 183M-4.1% | 185M-4.4% | 187M-4.9% | N/A | 191M-4.8% | 193M-5.1% | 196M-4.4% | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
NTRSO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $167.3B-1.8% | $179.3B+4.3% | $174.6B+5.8% | $177.1B+13.9% | $170.3B+9.3% | $171.9B+9.6% | $165.1B+5.7% | $155.5B+3.1% |
| Cash & Equivalents | $6.4B+20.5% | $5.7B-10.7% | $5.8B+33.1% | $5.9B+25.6% | $5.3B-22.2% | $6.4B-2.2% | $4.4B-17.7% | $4.7B-2.4% |
| Goodwill | $707.8M-0.7% | $709.6M-0.7% | $709.5M+1.3% | $712.9M+2.6% | $712.9M+0.7% | $714.6M+2.5% | $700.5M+0.4% | $694.9M-1.1% |
| Total Liabilities | $153.9B-2.2% | $165.9B+4.3% | $161.6B+6.2% | $164.2B+15.0% | $157.3B+10.0% | $159.0B+10.3% | $152.2B+5.7% | $142.7B+2.8% |
| Total Equity | $13.4B+3.1% | $13.4B+4.2% | $13.0B+0.8% | $13.0B+1.3% | $13.0B+1.6% | $12.9B+1.7% | $12.9B+6.4% | $12.8B+7.5% |
| Retained Earnings | $18.2B+10.8% | $17.7B+9.9% | $17.1B+7.7% | $16.7B+7.0% | $16.4B+7.1% | $16.1B+7.3% | $15.8B+10.9% | $15.6B+9.7% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
NTRSO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.8B+247.1% | -$64.9M-103.5% | -$320.0M-111.6% | $388.4Mn/m | $525.8M-14.0% | $1.9B-37.5% | $2.7Bn/m | -$2.6B-194.0% |
| Depreciation & Amortization | $199.5M+1.9% | $198.4M+1.4% | $197.1M+3.4% | $196.9M+7.7% | $195.8M+6.9% | $195.7M+8.4% | $190.7M+12.0% | $182.9M+8.2% |
| Stock-Based Compensation | $14.2M-19.3% | $52.8M+190.1% | $74.3M+3.3% | N/A | $17.6M+19.7% | $18.2M+7.1% | $71.9M+8.3% | N/A |
| Capital Expenditures | $22.2M+35.4% | $25.4M+104.8% | $9.4M-24.2% | $32.8M-19.4% | $16.4M-36.2% | $12.4M-40.4% | $12.4M-13.3% | $40.7M-36.2% |
| Free Cash Flow | $1.8B+253.9% | -$90.3M-104.9% | -$329.4M-112.0% | $355.6Mn/m | $509.4M-13.0% | $1.9B-37.5% | $2.7Bn/m | -$2.7B-197.7% |
| Investing Cash Flow | $12.7B+1467.7% | -$4.8Bn/m | $3.5Bn/m | -$7.1Bn/m | $807.7M-76.8% | -$3.6B-481.0% | -$10.3Bn/m | -$2.2Bn/m |
| Financing Cash Flow | -$13.7Bn/m | $4.8B+35.7% | -$3.1B-145.8% | $7.1B+126.4% | -$2.3Bn/m | $3.5Bn/m | $6.8B-1.6% | $3.2B+84.5% |
| Dividends Paid | $159.6M+5.1% | $146.9M+2.0% | $148.5M+1.6% | $149.6M+1.4% | $151.9M+1.8% | $144.0M-5.2% | $146.1M-4.9% | $147.6M-4.3% |
| Share Buybacks | $352.3M+27.2% | $350.6M+3.3% | $358.9M+25.0% | $369.9M+45.9% | $277.0M-8.1% | $339.4M+35.3% | $287.2M+117.6% | $253.6M+73.5% |
NTRSO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 28.0%+5.4pp | 29.4%+8.3pp | 23.8%+3.6pp | 21.9%-1.3pp | 22.6%-1.0pp | 21.1%-11.9pp | 20.2%+7.2pp | 23.2%+15.9pp |
| Return on Equity | 4.8%+1.3pp | 5.9%+2.6pp | 4.0%+1.0pp | 3.6%0.0pp | 3.5%-0.1pp | 3.3%-3.8pp | 3.0%+1.3pp | 3.6%+2.6pp |
| Return on Assets | 0.4%+0.1pp | 0.4%+0.2pp | 0.3%+0.1pp | 0.3%0.0pp | 0.3%0.0pp | 0.3%-0.3pp | 0.2%+0.1pp | 0.3%+0.2pp |
| Liabilities-to-Equity | 11.52-0.6x | 12.380.0x | 12.44+0.6x | 12.67+1.5x | 12.14+0.9x | 12.36+1.0x | 11.82-0.1x | 11.16-0.5x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x |
| FCF Margin | 78.6%+53.4pp | -3.4%-96.3pp | -14.9% | 16.8% | 25.1%-4.6pp | 93.0% | 141.1% | -136.5% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Where Northern Trust Corporation Ranks
Frequently Asked Questions
Northern Trust Corporation (NTRSO) reported $8.1B in total revenue for fiscal year 2025. This represents a -2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Northern Trust Corporation (NTRSO) revenue declined by 2.5% year-over-year, from $8.3B to $8.1B in fiscal year 2025.
Yes, Northern Trust Corporation (NTRSO) reported a net income of $2.4B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $1.7B, with a net profit margin of 21.5%.
Northern Trust Corporation (NTRSO) had a net profit margin of 21.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, Northern Trust Corporation (NTRSO) paid $3.10 per share in dividends during fiscal year 2025.
Northern Trust Corporation (NTRSO) has a return on equity of 13.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Northern Trust Corporation (NTRSO) generated $5.5B in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Northern Trust Corporation (NTRSO) generated $5.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Northern Trust Corporation (NTRSO) had $177.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Northern Trust Corporation (NTRSO) invested $74.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Northern Trust Corporation (NTRSO) had a liabilities-to-equity ratio of 12.67 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Northern Trust Corporation (NTRSO) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Northern Trust Corporation (NTRSO) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Northern Trust Corporation (NTRSO) has an earnings quality ratio of 3.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.