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Northern Trust Corporation (NTRS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Asset Management & Custody Banks · DATA UPDATED 2026-07-15

Northern Trust Corporation (NTRS) operates in the Asset Management & Custody Banks industry and is headquartered in Chicago, United States with about 23,600 employees. Its market capitalization is roughly $22 billion. In the fiscal year ended 2025-12-31, NTRS reported $14.3B in revenue and $1.7B in net income.

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals. It operates in two segments, Asset Servicing and Wealth Management.

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NTRS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$14.6B	$14.3B	$15.9B	$12.1B	$7.8B	$6.5B	$6.3B	$6.9B	$6.7B	$5.7B	$5.0B	$4.8B	$4.5B	$4.3B	$4.2B	$4.2B	$4.0B	$4.3B	$5.5B	$5.4B	$4.5B
Gross Profit	$8.4B	$8.1B	$8.3B	$6.7B	$6.7B	$6.5B	$6.0B	$6.1B	$6.0B	$5.4B	$4.9B	$4.6B	$4.3B	$4.0B	$3.9B	$3.7B	$3.5B	$3.7B	$4.0B	$3.5B	$3.0B
Gross Margin %	57.3%	56.5%	52.2%	55.7%	87.1%	100.9%	94.8%	88.3%	89.7%	94.5%	96.9%	97.7%	95.9%	94.3%	92.3%	89.1%	86.6%	85.6%	72.5%	64.1%	66.2%
Operating Income (EBIT)	$2.5B	$2.3B	$2.7B	$1.5B	$1.8B	$2.0B	$1.6B	$1.9B	$2.0B	$1.6B	$1.5B	$1.5B	$1.2B	$1.1B	$992M	$884M	$990M	$1.3B	$1.3B	$1.1B	$1.0B
Operating Margin %	17.2%	16.3%	16.8%	12.1%	22.8%	31.0%	25.8%	28.2%	29.4%	28.6%	30.2%	30.8%	26.4%	25.1%	23.7%	21.2%	24.6%	29.2%	23.1%	19.5%	22.8%
Net Income	$1.9B	$1.7B	$2.0B	$1.1B	$1.3B	$1.5B	$1.2B	$1.5B	$1.6B	$1.2B	$1.0B	$974M	$812M	$731M	$687M	$604M	$670M	$864M	$795M	$727M	$665M
Net Margin %	12.8%	12.2%	12.8%	9.1%	17.2%	23.8%	19.2%	21.6%	23.4%	21.0%	20.6%	20.5%	18.0%	17.1%	16.4%	14.5%	16.6%	20.1%	14.4%	13.4%	14.8%
EBITDA	$3.4B	$3.2B	$3.4B	$2.1B	$2.3B	$2.5B	$2.1B	$2.4B	$2.4B	$2.1B	$1.9B	$1.8B	$1.5B	$1.4B	$1.3B	$1.1B	$1.2B	$1.5B	$1.5B	$1.3B	$1.2B
Earnings Per Share (EPS)	$9.86	$9.21	$10.06	$5.33	$6.40	$7.40	$5.79	$6.92	$6.93	$5.22	$4.51	$4.16	$3.41	$3.04	$2.85	$2.50	$2.76	$3.66	$3.55	$3.26	$3.00
Shares Outstanding (M)	187M	189M	202M	208M	209M	209M	209M	216M	224M	230M	229M	234M	238M	241M	241M	242M	243M	236M	224M	223M	222M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTRS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$3.8B	$3.6B	$3.6B	$3.6B	$3.5B	$3.7B	$3.9B	$4.7B
Gross Profit	$2.2B	$2.1B	$2.0B	$2.0B	$1.9B	$2.0B	$2.0B	$2.7B
Gross Margin %	58.3%	58.8%	57.1%	55.0%	55.2%	53.6%	49.8%	57.6%
Operating Income (EBIT)	$701M	$626M	$620M	$565M	$521M	$594M	$601M	$1.2B
Operating Margin %	18.5%	17.3%	17.3%	15.7%	14.8%	16.2%	15.3%	25.0%
Net Income	$526M	$466M	$458M	$421M	$392M	$455M	$465M	$896M
Net Margin %	13.9%	12.9%	12.8%	11.7%	11.2%	12.4%	11.8%	19.1%
EBITDA	$898M	$927M	$815M	$760M	$712M	$777M	$784M	$1.4B
Earnings Per Share (EPS)	$2.82	$2.47	$2.40	$2.18	$2.00	$2.30	$2.32	$4.40
Shares Outstanding (M)	187M	189M	191M	193M	196M	198M	201M	204M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTRS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.5B	$5.5B	($486M)	$2.6B	$2.4B	$1.4B	$1.9B	$2.6B	$1.8B	$1.7B	$1.5B	$1.8B	$936M	$839M	$814M	$1.3B	$790M	$1.0B	$855M	$881M	$388M
Capital Expenditures (CapEx)	$835M	$74M	$746M	$676M	$129M	$96M	$136M	$158M	$506M	$473M	$473M	$434M	$410M	$385M	$312M	$371M	$311M	$314M	$308M	$254M	$238M
Free Cash Flow (FCF)	$1.6B	$5.5B	($1.2B)	$1.9B	$2.3B	$1.3B	$1.8B	$2.4B	$1.3B	$1.2B	$1.0B	$1.4B	$526M	$454M	$502M	$883M	$479M	$700M	$547M	$627M	$150M
FCF Margin %	11.2%	38.2%	-7.8%	16.1%	29.2%	19.4%	28.0%	35.3%	18.9%	21.8%	20.6%	29.4%	11.7%	10.6%	12.0%	21.2%	11.9%	16.3%	9.9%	11.5%	3.3%
Dividends Paid	$636M	$633M	$644M	$663M	$797M	$625M	$630M	$576M	$452M	$407M	$356M	$348M	$303M	$221M	$354M	$274M	$273M	$307M	$248M	$220M	$200M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTRS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	($320M)	$388M	$526M	$1.9B	$2.8B	($2.6B)	$611M	$3.0B
Capital Expenditures (CapEx)	$220M	$230M	$168M	$218M	$184M	$226M	$209M	$182M
Free Cash Flow (FCF)	($540M)	$158M	$358M	$1.7B	$2.6B	($2.9B)	$402M	$2.8B
FCF Margin %	-14.2%	4.4%	10.0%	45.9%	73.1%	-77.8%	10.2%	59.8%
Dividends Paid	$165M	$154M	$168M	$149M	$162M	$152M	$165M	$157M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTRS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$174.6B	$177.1B	$155.5B	$150.8B	$155.0B	$183.9B	$170.0B	$136.8B	$132.2B	$138.6B	$123.9B	$116.8B	$109.9B	$102.9B	$97.5B	$100.2B	$83.8B	$82.1B	$82.1B	$67.6B	$60.7B
Cash & Cash Equivalents	$49.5B	$61.1B	$45.4B	$41.1B	$46.6B	$3.1B	$4.4B	$4.5B	$4.7B	$4.5B	$5.3B	$6.4B	$3.1B	$3.2B	$3.8B	$34.5B	$29.3B	$30.4B	$28.8B	$25.2B	$20.5B
Total Liabilities	$161.6B	$164.2B	$142.7B	$138.9B	$143.8B	$7.2B	$8.6B	$125.7B	$121.7B	$128.4B	$114.2B	$108.0B	$101.5B	$95.0B	$89.9B	$93.1B	$77.0B	$75.8B	$75.7B	$63.1B	$56.8B
Total Debt (Short + Long-Term)	$24.2B	$26.9B	$16.0B	$17.2B	$14.8B	$7.7B	$13.2B	$18.3B	$22.0B	$18.4B	$14.0B	$11.9B	$8.3B	$8.7B	$6.0B	$6.4B	$10.0B	$16.3B	$9.0B	$10.7B	$13.2B
Total Shareholders' Equity	$13.0B	$13.0B	$12.8B	$11.9B	$11.3B	$176.7B	$161.4B	$11.1B	$10.5B	$10.2B	$9.8B	$8.7B	$8.4B	$7.9B	$7.5B	$7.1B	$6.8B	$6.3B	$6.4B	$4.5B	$3.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NTRS viewer.

Other Companies in Asset Management & Custody Banks

STT · State Street Corporation — $51 billion
AMP · Ameriprise Financial — $47 billion
ARES · Ares Management — $42 billion
TROW · T. Rowe Price — $25 billion
BEN · Franklin Resources — $17 billion
IVZ · Invesco — $13 billion
BLK · BlackRock — $172 billion
BX · Blackstone Inc. — $162 billion

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