Northern Trust

Financials Asset Management & Custody Banks Chicago, Illinois Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.6B
                    3y CAGR +44.2%
                    
                    P95
                    
                    -11.7%
                    
                    Net income
                    FY2025
                
$1.7B
                    Net margin +20.1%
                    
                    P26
                    
                    -14.5%
                    
                    Total assets
                    FY2025
                
$177.1B
                    ROA +1.0%
                    
                    P16
                    
                    +13.9%
                    
                    Operating cash flow
                    FY2025
                
$5.5B
                    FCF margin +55.2%
                    
                    P85
                    
                    +1238.6%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

18 accounts · 3 years

Total assets $177.1B

Total liabilities $164.2B

Shareholders equity $13.0B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+34.6%	+10.6%	—
Investment Securities	+12.0%	+4.0%	—
Loans net	-3.3%	-8.9%	—
Property,Plant and Equipment	-5.2%	-2.4%	—
Goodwill	+2.6%	-1.1%	—
Other Assets	+8.6%	+22.8%	—
Total Assets	+13.9%	+3.1%	—
Liabilities
Deposits	+16.6%	+5.4%	—
Short Term Borrowings	+4.9%	-12.1%	—
Other Liabilities	+6.2%	-10.0%	—
Total Liabilities	+15.0%	+2.8%	—
Equity
Total Stockholders Equity	+1.3%	+7.5%	—
Common Stock	+0.0%	+0.0%	—
Retained Earnings	+7.0%	+9.7%	—
Accumulated Other Comprehensive Income	+27.5%	+28.5%	—
Additional Paid In Capital	+1.3%	+1.6%	—
Treasury Stock	+26.8%	+23.7%	—
Total Liabilitiesand Equity	+13.9%	+3.1%	—

Income Statement

Revenue, expense, and profitability

11 accounts · 3 years

Revenue $8.6B

Operating income Not reported

Net income $1.7B

Account	2025	2024	2023
IncomeStatement
Interest Income Total Interest Income	-11.7%	+33.3%	—
Interest Expense Interest Expense	-18.1%	+42.0%	—
net Interest Income net Interest Income	+10.7%	+9.8%	—
Noninterest Income Total Noninterest Income	-7.2%	+27.6%	—
Expenses Noninterest Expense	+2.1%	+6.1%	—
Income Tax Income Tax Expense	-4.1%	+75.8%	—
net Income Other Items Below Tax	+0.0%	+0.0%	—
net Income net Income	-14.5%	+83.4%	—
Earnings Per Share Diluted Eps	-10.5%	+92.3%	—
Earnings Per Share Basic Eps	-10.4%	+92.5%	—
Earnings Per Share Weighted Average Shares Diluted	-4.8%	-2.7%	—

Cash Flow Statement

Operating, investing, and financing flows

13 accounts · 3 years

Operating cash flow $5.5B

Investing cash flow $-20.2B

Financing cash flow $15.2B

Account	2025	2024	2023
CashFlow
Operating Activities net Cash From Operating Activities	+1238.6%	-118.5%	—
Operating Activities net Income	-14.5%	+83.4%	—
Operating Activities Depreciation and Amortization	+8.7%	+13.0%	—
Operating Activities Other Non Cash Items	+193.3%	-465.9%	—
Investing Activities net Cash From Investing Activities	-686.8%	-153.6%	—
Investing Activities Capital Expenditures	-3.8%	-10.3%	—
Investing Activities Other Investing Activities	-966.9%	-133.3%	—
Financing Activities net Cash From Financing Activities	+341.2%	+147.9%	—
Financing Activities Dividends Paid	+1.7%	+2.9%	—
Financing Activities Repurchase of Common Stock	-35.8%	-169.9%	—
Financing Activities Other Financing Activities	+240.2%	+181.4%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+230.2%	-461.6%	—
Cash Reconciliation net Change In Cash	+1146.3%	-183.2%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	—	—	—
Net margin	+20.1%	+20.8%	+15.1%
FCF margin	+55.2%	-12.6%	+26.6%
Growth
Revenue CAGR (3y)	+44.2%	+90.8%	+64.6%
Returns
ROE	+13.4%	+15.9%	+9.3%
ROA	+1.0%	+1.3%	+0.7%
ROIC	—	—	—
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
Leverage
D/E	12.67x	11.16x	11.67x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.05x	0.06x	0.05x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Northern Trust

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