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NORTHERN TRUST CORP (NTRS)

As-reported financials and SEC filings for NORTHERN TRUST CORP. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About NORTHERN TRUST CORP

Northern Trust Corporation provides wealth management, asset servicing, asset management, and banking solutions to corporations, institutions, families, and individuals. Its main services include custody, fund administration, investment management, trust services, and private banking, serving institutional investors and high-net-worth clients globally. The company operates through its principal subsidiary, The Northern Trust Company, with a presence in the United States, Canada, Europe, the Middle East, and the Asia-Pacific region.

Snapshot

Revenue
$8.09B
Revenue growth (YoY)
-2.5%
Net income
$1.74B
Diluted EPS
$8.74
Gross margin
Operating margin
Net margin
21.5%
FCF margin
67.5%
ROE
13.4%
net income / fiscal-year-end equity
P/E
16.0×
trailing when available, otherwise FY EPS
Market cap
$33.42B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Northern Trust

  • Revenue fell 2.5% to $8.1B in FY2025, slower than the 22.4% the year before.
  • Most recent quarter Q2 FY2026: revenue $2.7B, up 35.0% from Q2 FY2025.
  • Free cash flow was $5.5B in FY2025, 67.5% of revenue.
  • Net income fell 14.5% to $1.7B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Northern Trust’s fundamentals sit among the 76 banks. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin21.5%
19th percentile of 76
FCF margin67.5%
95th percentile of 58
Revenue growth (YoY)-2.5%
1st percentile of 76
ROE13.4%
88th percentile of 76
P/E16.0×
88th percentile of 75
Short interest3.36d
16th percentile of 75

Northern Trust’s revenue growth of -2.5% ranks in the 1st percentile of the 76 banks reporting it. Northern Trust’s FCF margin of 67.5% ranks in the 95th percentile of the 58 banks reporting it. Northern Trust’s return on equity of 13.4% ranks in the 88th percentile of the 76 banks reporting it.

1 reported insider purchase (code P) totaling $45,790 in the last 90 days, against 1 sale totaling $332,820. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+5 quant / multi-strat
Initiated / added
5
0 new, 5 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$637.2M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$511.1M2.9MAdded
Citadel AdvisorsquantQ2 2026$69.8M401.7KAdded
Renaissance TechnologiesquantQ2 2026$34.1M196.3KAdded
Millennium ManagementquantQ2 2026$15.5M89.3KReduced
Bridgewater AssociatesQ2 2026$2.7M15.8KAdded
Yacktman Asset ManagementQ2 2026$1.7M9.5KHeld
D. E. ShawquantQ2 2026$1.6M9.4KReduced
Gotham Asset ManagementQ2 2026$624,0863.6KAdded

No longer held by: Point72 Asset Management (as of Q2 2026), Two Sigma Investments (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
1
1 insider
Bought (90d)
$46K
code P value
Sells (90d)
1
$333K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-24
filed 2026-08-25
South Thomas AExecutive Vice PresidentSell1.8K$184.90$333K
2026-07-29
filed 2026-07-30
Moritz Robert Edward Jr.DirectorBuy255$179.57$46K
2026-06-03
filed 2026-06-04
Hallinan AengusExecutive Vice PresidentSell2.6K$167.10$427K
2026-06-03
filed 2026-06-04
Hallinan AengusExecutive Vice PresidentSell1.1K$167.96$187K
2026-05-01
filed 2026-05-04
Moritz Robert Edward Jr.DirectorBuy225$166.41$37K
2026-04-29
Fox David W JrEVP & Chief Financial OfficerSell13$165.74$2K
2026-04-28
filed 2026-04-29
Fox David W JrEVP & Chief Financial OfficerSell20.0K$166.16$3.3M
2026-04-24
filed 2026-04-28
Bellows CliveCo-President Asset ServicingSell2.8K$165.02$462K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.6M
settled 2026-08-14
Change vs prior
+6.1%
vs previous settlement
Days to cover
3.36
at avg daily volume
Avg daily volume
1.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.6M+6.1%3.36
2026-07-313.4M+4.9%2.71
2026-07-153.2M-7.2%4.02
2026-06-303.5M+13.6%2.99
2026-06-153.1M+24.1%2.91
2026-05-292.5M-3.7%2.10
2026-05-152.6M+12.8%2.87
2026-04-302.3M-12.3%1.54

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Bank fundamentals

Regulatory detail for The Northern Trust Company (Chicago, IL), the insured-bank subsidiary, from its FDIC Call Report as of Q1 2026. This is what actually moves bank stocks: deposit franchise, capital, and credit quality that a standard income statement can’t show.

Total deposits
$142.3B
FDIC insured-bank
Uninsured deposits
29.2%
share of deposits
CET1 ratio
11.63%
regulatory capital
Net interest margin
1.67%
trailing
Efficiency ratio
68.0%
lower is better
Noncurrent loans
0.23%
of gross loans

Source: FDIC BankFind (Call Report). Bank-subsidiary figures, filed quarterly ~30 days after quarter-end.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$8.09B$8.29B$6.77B$6.76B$6.46B
Gross profit
Operating income
Net income$1.74B$2.03B$1.11B$1.34B$1.55B
Diluted EPS$8.74$9.77$5.08$6.14$7.14

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$5.87B$4.68B$4.79B$4.65B$3.06B
Current assets
Total assets$177.13B$155.51B$150.78B$155.04B$183.89B
Current liabilities
Long-term debt
Total liabilities$164.17B$142.72B$138.89B$143.78B$171.87B
Total equity$12.96B$12.79B$11.90B$11.26B$12.02B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$5.53B$-486.0M$2.63B$2.39B$1.36B
Capital expenditure$74.0M$101.5M$116.5M$128.6M$95.5M
Free cash flow$5.46B$-587.5M$2.51B$2.26B$1.26B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$2.70B35.0%$792.2M
Q1 FY2026$2.21B13.7%$525.5M$2.71
Q4 FY2025$2.12B8.3%$466.0M$2.47
Q3 FY2025$2.03B2.9%$457.6M$2.29
Q2 FY2025$2.00B-26.4%$421.3M$2.13
Q1 FY2025$1.94B17.8%$392.0M$1.90
Q4 FY2024$1.96B26.8%$455.4M$2.30
Q3 FY2024$1.97B14.0%$464.9M$2.22

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorFinancials
SIC industryState Commercial Banks
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2020
SEC CIK73124

Selected SEC filings

10-K2026-02-24
View on EDGAR →
10-K2025-02-24
View on EDGAR →
10-Q2026-07-30
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-10-30
View on EDGAR →
10-Q2025-07-30
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-07-22
View on EDGAR →

Largest bank peers

All bank stocksAll Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.