NTRSO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $18.20
Market Cap (MRQ) $3.33B
P/E 2.1
EPS $8.74
Revenue $8.09B
Div Yield 17.4%
ROE 13.5%
52W Range $18–$20

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About Northern Trust Corporation - Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series E Non-Cumulative Perpetual Preferred Stock Company overview from Wikipedia

05 · wikidata

Northern Trust Corporation is an American financial services company headquartered in Chicago, Illinois, that caters to corporations, institutional investors, and ultra-high-net-worth individuals. Northern Trust is one of the largest banking institutions in the United States and one of the oldest banks in continuous operation. As of December 31, 2025, it had $1.8 trillion in assets under management and $14.9 trillion in assets under custody. Northern Trust Corporation is incorporated in Delaware.

The company has offices in 24 US states and 22 international offices across countries in Canada, Europe, the Middle East, and the Asia-Pacific region. It is ranked 269 on the Fortune 1000 as of late 2025.

Current operations

Asset servicing

Asset Servicing is a global provider of custodian bank, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefits services, securities lending, foreign exchange market, treasury management, brokerage firm services, transition management services, banking, and cash management services to corporate and public pension funds, foundations, financial endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors. At the end of May 2020, Northern Trust Corporation entered into a strategic alliance with BlackRock. This alliance entails working with BlackRock on its platform called Aladdin with mutual clients.

Wealth management

Over 20% of the wealthiest families in the United States are clients of the company's wealth management division. It provides personal trust, investment management, custodian bank, and philanthropic services, financial consulting, guardianship and estate administration, qualified retirement plans and private and business banking. Wealth Management focuses on high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately held businesses in its target markets with assets typically exceeding $75 million. Wealth management services are delivered through a network of 85 offices in 18 U.S. states as well as offices in London, Guernsey, and Abu Dhabi.

Northern Trust Asset Management (NTAM)

Northern Trust Asset Management provides investment management services. It offers both active management and passive management strategies for equity and fixed income investing, as well as alternative asset classes such as private equity and hedge funds and multi-manager products and services.

History

Northern Trust was founded in 1889 by Byron Laflin Smith in a one-room office in the Rookery Building in The Loop, Chicago, with a focus on providing trust and banking services for the city's prosperous citizens. It opened on August 12, 1889, with 7 accounts and $137,981.25 in deposits. Smith provided 40% of the bank's original capitalization of $1 million, and the original 27 shareholders included Marshall Field, Martin A. Ryerson, and Philip D. Armour.

The company's headquarters building at 50 South LaSalle Street in the Financial District of Chicago dates from 1905 and was designed by Frost and Granger. The structure opened with five stories, but is designed to accommodate additional floors. However, when the bank needed additional space in 1965, it opted to construct a new 14-story building in the international style to the west and selected Cesar Pelli as its architect.

In 1914, Byron Laflin Smith died. His son, Solomon Albert Smith, took over the bank.

The company's conservative policies served it well during the 1920s and the company's assets actually grew during the Great Depression, while many other banks suffered from bank failure.

By 1941, nearly half of all the bank's commercial accounts were drawn from outside the Chicago metropolitan area. During World War II, the company took part in the government's war bond drives and provided loans for manufacturing war materials under special government programs. The war created more opportunities for the bank; all sectors of its business expanded.

During the 1950s, Northern Trust spent heavily to develop automated banking services, including the first fully automated financial statements for trust clients.

In 1963, Solomon A. Smith died. Solomon Byron Smith became chairman of the executive committee and his brother, Edward Byron Smith, became chairman.

In 1986, the bank acquired First Lake Forest Corporation for $61 million in cash.

Edward Byron Smith retired as chief executive officer in 1979. He was succeeded by E. Norman "Bud" Staub. A few years later, Philip W. K. Sweet took over but he resigned in 1984.

In 1984, Weston Christopherson, former CEO of Jewel, took the helm. He is credited with guiding the bank through a difficult period when sour loans to Latin American countries were hurting profits. When oil prices dropped suddenly in the early 1980s, many South American nations realized they could not repay their enormous bank loans. The bank suffered uncharacteristically high losses. Aggressive management, loan reserves, and write-offs enabled the bank to restore its asset quality. During Christopherson's six years at Northern Trust, profits rose from $34 million to $113 million. At the time of his retirement in 1990, the company was the 11th most profitable of the 100 largest banks in the United States.

William A. Osborn was named president and chief operating officer in 1993 and became chairman and chief executive officer, in addition to president, in 1995.

In 2005, Northern Trust and Enron reached a $365 million settlement with 20,000 employees of Enron after the energy company's collapse (see Enron scandal). Northern Trust had managed the 401k plan for Enron's employeees, who alleged mismanagement and breach of fiduciary duty. The initial settlement was reduced a year later to $32.5 million in an agreement approved by federal judge Melinda Harmon, with Northern Trust neither admitting nor denying wrongdoing.

Osborn stepped down as president in 2006 and as CEO on January 1, 2008. Frederick H. "Rick" Waddell then became chairman and CEO.

During his tenure, Waddell was able to guide the bank through the 2008 financial crisis. In 2009 Northern Trust was one of 3 banks able to gain large profits. Along with M&T Bank, Northern Trust was one of two banks in the S&P 500 Index not to lower their dividends during the 2008 financial crisis.

In November 2008, the United States Department of the Treasury invested $1.5 billion in the company as part of the Troubled Asset Relief Program and in June 2009, the company repurchased the investment from the Treasury. The company had been criticized for heavy spending on parties during a 2009 golf tournament that it sponsored, after receiving government funds.

The company strives to give approximately 1.5% of its pre-tax profits to charities every year. In the 10 years preceding 2014, the company gave over $120 million in support of non-profit organizations.

In 2017, Northern Trust acquired UBS Asset Management's fund administration servicing units in Switzerland and Luxembourg.

In 2018, Michael O'Grady became chief executive officer of the company. He also assumed the chairmanship on January 23, 2019.

In January 2026, Northern Trust reported fourth-quarter net income of $466 million and an 11% increase in assets under custody/administration (AUC/A) to $18.7 trillion.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorFinancial Services industryFinancial Services employees23,600 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$8.09B
2016-12-31 → 2025-12-31
EPS$8.74
2016-12-31 → 2025-12-31
Free Cash Flow$5.46B
2016-12-31 → 2025-12-31
Net margin21.5%
2016-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend NTRSO 5Y avg Peer Median Verdict
P/E 2.15Y avg ≈3.1 ≈3.1 13.2 Undervalued
P/S 0.45Y avg ≈0.6 ≈0.6 3.1 Undervalued
P/B (MRQ) 0.25Y avg ≈0.4 ≈0.4 2.3 Undervalued
Price / FCF 0.65Y avg ≈0.4 ≈0.4 · ·
Price / Cash Flow 0.65Y avg ≈0.0 ≈0.0 12.8 Undervalued
Price / Tangible Book 0.35Y avg ≈0.4 ≈0.4 · ·
PEG Ratio ≈0.2 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Dividend Yield17.4%
Payout Ratio34.1%
Annualized Payout≈$1.18Paid quarterly
Ex-dateAmountCurrencyYield
Sep 15, 2026$0.29USD≈6.6%
Jun 15, 2026$0.29USD≈6.4%
Mar 13, 2026$0.29USD≈6.2%
Dec 15, 2025$0.29USD≈6.1%
Sep 15, 2025$0.29USD≈5.6%
Jun 13, 2025$0.29USD≈6.2%
Mar 14, 2025$0.29USD≈5.9%
Dec 13, 2024$0.29USD≈5.7%
Sep 13, 2024$0.29USD≈5.2%
Jun 14, 2024$0.29USD≈5.7%
Mar 14, 2024$0.29USD≈5.1%
Dec 14, 2023$0.29USD≈5.3%
Sep 14, 2023$0.29USD≈5.9%
Jun 14, 2023$0.29USD≈5.7%
Mar 14, 2023$0.29USD≈5.7%
Dec 14, 2022$0.29USD≈5.5%
Sep 14, 2022$0.29USD≈5.4%
Jun 14, 2022$0.29USD≈5.6%
Mar 14, 2022$0.29USD≈5.0%
Dec 14, 2021$0.29USD≈4.5%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 6.0%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 $2.97 $2.76 7.5%
March 31, 2026 $2.71 $2.37 14.3%
Dec. 31, 2025 $2.69 $2.41 11.5%
Sept. 30, 2025 $2.29 $2.29 -0.03%
June 30, 2025 $2.13 $2.09 1.9%
March 31, 2025 $1.90 $1.89 0.77%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 11
Metric Trend 202520242023202220212020201920182017201620152014
Revenue $8.09B$8.29B$6.77B$6.76B$6.46B$6.10B$6.07B$5.96B$5.38B$4.96B$4.70B$4.33B
Interest Expense ··$5.34B$990M$24M$200M$822M$699M$340M$182M$154M$181M
Interest Income $8.62B$9.76B$7.33B$2.88B$1.41B$1.64B$2.50B$2.32B$1.77B$1.42B$1.22B$1.19B
Pretax Income $2.34B$2.66B$1.46B$1.77B$2.01B$1.63B$1.94B$1.96B$1.63B$1.52B$1.47B$1.19B
Income Tax $603M$628M$358M$430M$465M$418M$452M$401M$435M$485M$491M$378M
Net Income $1.74B$2.03B$1.11B$1.34B$1.55B$1.21B$1.49B$1.56B$1.20B$1.03B$974M$812M
EPS (Basic) $8.78$9.80$5.09$6.16$7.16$5.48$6.66$6.68$4.95$4.35$4.03$3.34
EPS (Diluted) $8.74$9.77$5.08$6.14$7.14$5.46$6.63$6.64$4.92$4.32$3.99$3.32
Shares (Basic) 191,358,026201,263,646207,248,094208,309,331208,075,522208,319,412214,525,547223,148,335228,257,664227,580,584232,279,849235,829,790
Shares (Diluted) 192,246,525201,870,105207,563,746208,867,264208,899,230209,007,986215,601,149224,488,326229,654,401229,151,406234,221,729237,720,255
EBITDA $779M$717M$635M$554M$516M$500M······
Balance Sheet 15
Metric Trend 202520242023202220212020201920182017201620152014
PP&E (Net) $465M$490M$502M$500M$489M$515M$483M$428M$465M$467M$447M$444M
PP&E (Gross) $1.33B$1.33B$1.33B$1.25B$1.22B$1.61B$1.47B$1.32B$1.34B$1.24B$1.14B$1.06B
Accum. Depreciation $861M$841M$829M$750M$732M$1.10B$984M$889M$871M$770M$691M$617M
Goodwill $713M$695M$702M$691M$706M$707M$697M$669M$606M$519M$526M$533M
Intangibles ·····$113M$121M$139M$161M$42M$46M$60M
Total Assets $177.13B$155.51B$150.78B$155.04B$183.89B$170.00B$136.83B$132.21B$138.59B$123.93B$116.75B$109.95B
Total Liabilities $164.17B$142.72B$138.89B$143.78B$171.87B$158.32B$125.74B$121.70B$128.37B$114.16B$108.04B$101.50B
Common Stock $409M$409M$409M$409M$409M$409M$409M$409M$409M$409M$409M$409M
Paid-in Capital $1.04B$1.03B$1.01B$984M$939M$964M$1.01B$1.07B$1.05B$1.04B$1.07B$1.05B
Retained Earnings $16.71B$15.61B$14.23B$13.80B$13.12B$12.21B$11.66B$10.78B$9.69B$8.91B$8.24B$7.63B
Treasury Stock $5.49B$4.33B$3.50B$3.25B$3.30B$3.20B$3.07B$2.17B$1.39B$1.09B$1.03B$705M
AOCI $-590M$-814M$-1.14B$-1.57B$-36M$428M$-195M$-454M$-414M$-370M$-373M$-320M
Stockholders' Equity $12.96B$12.79B$11.90B$11.26B$12.02B$11.69B$11.08B$10.51B$10.22B$9.77B$8.71B$8.45B
Liabilities + Equity $177.13B$155.51B$150.78B$155.04B$183.89B$170.00B$136.83B$132.21B$138.59B$123.93B$116.75B$109.95B
Shares Outstanding 186,337,588195,969,746205,126,224208,428,309207,761,875208,289,178209,709,046219,012,050226,126,674228,605,485229,293,783233,390,705
Cash Flow 17
Metric Trend 202520242023202220212020201920182017201620152014
D&A $779M$717M$635M$554M$516M$500M$459M$461M····
Deferred Tax $194M$21M$-48M$-143M$2M$16M$34M$10M$-76M$-176M$-146M$-36M
Amort. of Intangibles ···$9M$15M$17M$17M$17M$11M$9M$11M$20M
Other Non-cash $2.82B$-3.25B$932M$646M$-707M$171M······
Operating Cash Flow $5.53B$-486M$2.63B$2.39B$1.36B$1.90B$2.59B$1.77B$1.72B$1.51B$1.83B$936M
CapEx $74M$102M$116M$129M$96M$136M$158M$98M$92M$111M$98M$82M
Investing Cash Flow $-20.17B$-2.56B$4.78B$25.93B$-18.60B$-29.92B$-3.40B$4.33B$-14.02B$-10.19B$-6.90B$-8.23B
Debt Issued ··········$0$0
Net Debt Issued ·······$-314M$-209M$-7M$-231M$-640M
Stock Repurchased $1.27B$938M$348M$35M$268M$300M$1.10B$924M$523M$411M$497M$481M
Net Stock Activity $-1.27B$-938M$-348M$-35M$-268M$-300M$-1.10B$-924M$-523M$-411M$-497M$-481M
Dividends Paid $592M$602M$622M$750M$583M$585M$530M$405M$357M$333M$321M$303M
Financing Cash Flow $15.18B$3.44B$-7.18B$-26.44B$16.07B$27.87B$616M$-5.82B$11.25B$7.54B$8.53B$7.07B
Net Change in Cash $1.20B$-114M$137M$1.60B$-1.33B$-70M$-122M$64M$-814M$-1.09B$3.40B$-138M
Taxes Paid $427M$269M$362M·········
Free Cash Flow $5.46B$-588M$2.51B$2.26B$1.26B$1.76B$2.43B$1.67B$1.63B$1.40B$1.74B$854M
Levered FCF ··$-1.53B$1.51B$1.24B$1.61B$1.80B$1.11B$1.38B$1.27B$1.63B$730M
Profitability 5
Metric Trend 202520242023202220212020201920182017201620152014
Net Margin 21.5%24.5%16.4%19.8%23.9%19.8%24.6%26.1%22.3%20.8%20.7%18.7%
Pretax Margin 28.9%32.1%21.6%26.1%31.1%26.7%32.0%32.9%30.4%30.6%31.1%27.5%
EBITDA Margin 9.6%8.6%9.4%8.2%8.0%8.2%······
ROA 1.0%1.3%0.72%0.79%0.87%0.79%1.1%1.1%0.91%0.86%0.86%0.76%
ROE 13.5%15.9%9.3%12.0%12.9%10.4%13.6%14.9%11.8%10.7%11.1%9.6%
Efficiency 1
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 0.00.10.00.00.00.00.00.00.00.00.00.0
Per Share 5
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share $69.54$65.26$58.00$54.02$57.84$56.12$52.89$47.98$45.18$42.74$37.97$36.20
Revenue / Share $42.06$41.07$32.63$32.37$30.95$29.19$28.17$26.55$23.41$21.65$20.08$18.22
Cash Flow / Share $28.78$-2.41$12.65$11.45$6.49$9.08$12.02$7.87$7.49$6.59$7.83$3.94
Dividend / Share $3.10$3.00$3.00$2.90$2.80$2.80$2.60$1.94$1.60···
EPS (TTM) $8.74$9.77$5.08$6.14$7.14$5.46$6.63$6.64$4.92$4.32$3.99$3.32
Growth Rates 10
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY -2.5%22.4%0.18%4.6%6.0%·······
Revenue CAGR 3Y 6.2%8.6%3.5%·········
Revenue CAGR 5Y 5.8%···········
EPS YoY -10.5%92.3%-17.3%-14.0%30.8%·······
EPS CAGR 3Y 12.5%11.0%-2.4%·········
EPS CAGR 5Y 9.9%···········
Net Income YoY -14.5%83.4%-17.1%-13.5%27.8%·······
Net Income CAGR 3Y 9.1%9.5%-2.9%·········
Net Income CAGR 5Y 7.5%···········
Dividends Paid CAGR 5Y 0.24%···········
Valuation (TTM) 13
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM $8.09B$8.29B$6.77B$6.76B$6.46B$6.10B$6.07B$5.96B$5.38B$4.96B$4.70B$4.33B
Net Income TTM $1.74B$2.03B$1.11B$1.34B$1.55B$1.21B$1.49B$1.56B$1.20B$1.03B$974M$812M
Market Cap $3.62B$3.94B$4.34B$4.13B$5.63B$5.79B$5.48B·····
P/E 2.22.14.23.23.85.13.9·····
P/S 0.40.50.60.60.90.90.9·····
P/B 0.30.30.40.40.50.50.5·····
P / Tangible Book 0.30.30.40.40.50.5······
P / Cash Flow 0.7-8.11.71.74.23.12.1·····
P / FCF 0.7-6.71.71.84.53.32.3·····
Dividend Yield 16.4%15.3%14.3%18.2%10.4%10.1%9.7%·····
Earnings Yield 45.0%48.6%24.0%31.0%26.3%19.7%25.4%·····
Payout Ratio 34.1%29.6%56.1%56.1%37.8%48.3%35.5%26.1%29.8%32.2%33.0%37.3%
Annual Payout $592M$602M$622M$750M$583M$585M$530M$405M$357M$333M$321M$303M

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $8.09B $8.29B $6.77B $6.76B $6.46B
Net Income $1.74B $2.03B $1.11B $1.34B $1.55B
Diluted EPS $8.74 $9.77 $5.08 $6.14 $7.14

Institutional owners (13F) 4 filers · $154K total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 4
Value held $154K
New positions 1
Exited positions 0
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
1 (+1 vs prior Q) 0 (-1 vs prior Q) 0 (0 vs prior Q) 1 (-1 vs prior Q) +158

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
10Elms LLP $129,982 6,925 84.54% Shares
PNC Financial Services Group, Inc. $13,064 696 8.50% Shares
Byrne Asset Management LLC $7,508 400 4.88% Shares
First Command Advisory Services, Inc. $3,203 168 2.08% Shares

Company insiders 12 insiders · 2 officers · 10 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Michael Hunstad President/Asset Management Sept. 1, 2026 F 25,223 0 0 $0
Thomas A South Executive Vice President Aug. 24, 2026 S 92,917 0 1 $-332,820
Chandra Dhandapani Director Oct. 1, 2026 A 7,147 0 0 $0
Richard Petrino Director Oct. 1, 2026 A 4,350 0 0 $0
Marcy S Klevorn Director Oct. 1, 2026 A 13,625 0 0 $0
Dean M Harrison Director Oct. 1, 2026 A 35,322 0 0 $0
Donald Thompson Director Oct. 1, 2026 A 32,045 0 0 $0
Charles A Tribbett Director Oct. 1, 2026 A 35,949 0 0 $0
Siddharth N Mehta Director Oct. 1, 2026 A 12,518 0 0 $0
Susan Crown Director Oct. 1, 2026 A 38,847 0 0 $0
SLARK MARTIN P Director Oct. 1, 2026 A 22,468 0 0 $0
Robert Edward Moritz Jr. Director July 29, 2026 P 8,400 1 0 $45,790

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

NTRSO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 21 analysts HOLD
1 4.8% Strong Buy
1 4.8% Buy
14 66.7% Hold
3 14.3% Sell
2 9.5% Strong Sell

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
NTRSO $3.62B 2.2 -2.5% 21.5% 13.5% ·
KKR $113.64B · -11.0% 12.2% 8.7% ·
BAM · · 21.0% 49.8% 26.6% ·
STT $36.00B 13.7 7.3% 21.1% 10.7% ·
KKR $113.64B · -11.0% 12.2% 8.7% ·
AMP $44.75B 13.5 5.5% 18.8% 56.4% ·
NTRS · · · · · ·
ARES · · 28.9% 11.1% 13.5% ·
TROW $22.38B 11.1 3.1% 28.5% 19.7% ·
PS · · · · · ·
TPG · · · · · ·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Jul 30, 2026