NTRS (Northern Trust Corporation) Stock Financials & Earnings | Market Cap Arena

NTRS (Northern Trust Corporation) Stock Financials & Earnings | Market Cap Arena

NTRSNorthern Trust Corporation

Mkt Cap$26B

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Revenue (TTM)$14.3B

Net Income (TTM)$1.7B

EPS (TTM)$8.74

Free Cash Flow (TTM)$4.7B

Gross Margin56.5%

Op. Margin16.3%

Net Margin12.1%

FCF Margin33.1%

P/S Ratio (TTM)1.8x

P/E Ratio (TTM)14.9x

YoY Rev Growth-9.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$2.7B	$1.7B	$444M
Q2 23	$3.0B	$1.8B	$441M
Q3 23	$3.2B	$1.7B	$434M
Q4 23	$3.3B	$1.5B	$146M
Q1 24	$3.6B	$1.7B	$291M
Q2 24	$4.7B	$2.7B	$1.2B
Q3 24	$3.9B	$2.0B	$601M
Q4 24	$3.7B	$2.0B	$594M
Q1 25	$3.5B	$1.9B	$521M
Q2 25	$3.6B	$2.0B	$565M
Q3 25	$3.6B	$2.0B	$620M
Q4 25	$3.6B	$2.1B	$626M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.0x	20.2x
Q2 23	2.6x	21.3x
Q3 23	2.4x	22.5x
Q4 23	2.1x	23.4x
Q1 24	2.0x	26.2x
Q2 24	1.8x	16.7x
Q3 24	1.7x	15.3x
Q4 24	1.6x	12.7x
Q1 25	1.6x	11.7x
Q2 25	1.8x	14.9x
Q3 25	1.8x	15.0x
Q4 25	1.8x	14.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$165M	-$294M
Q2 23	-$99M	-$271M
Q3 23	$87M	-$78M
Q4 23	$2.8B	$2.6B
Q1 24	-$1.5B	-$1.6B
Q2 24	$3.0B	$2.8B
Q3 24	$611M	$402M
Q4 24	-$2.6B	-$2.9B
Q1 25	$2.7B	$2.6B
Q2 25	$1.9B	$1.7B
Q3 25	$526M	$358M
Q4 25	$388M	$159M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$129M
Q2 23	$171M
Q3 23	$165M
Q4 23	$210M
Q1 24	$128M
Q2 24	$182M
Q3 24	$209M
Q4 24	$227M
Q1 25	$184M
Q2 25	$218M
Q3 25	$168M
Q4 25	$230M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+55.1%	+83.8%
Q2 23	+62.9%	+97.0%
Q3 23	+57.0%	+82.7%
Q4 23	+51.4%	+58.6%
Q1 24	+33.6%	+47.1%
Q2 24	+57.7%	+38.8%
Q3 24	+22.8%	+20.4%
Q4 24	+12.7%	-1.1%
Q1 25	-1.4%	-8.6%
Q2 25	-23.4%	-13.9%
Q3 25	-9.1%	-11.3%
Q4 25	-1.8%	-3.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$710M	$16M
Q2 23	$721M	$21M
Q3 23	$678M	$16M
Q4 23	$764M	$21M
Q1 24	$749M	$17M
Q2 24	$783M	$21M
Q3 24	$712M	$19M
Q4 24	$640M	$25M
Q1 25	$766M	$17M
Q2 25	$749M	$22M
Q3 25	$757M	$17M
Q4 25	$1.1B	$36M

Revenue Segments

Quarter	Asset Servicing Segment	Wealth Management
Q4 24	$2.2B	$1.6B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$45.7B	$9.8B	$55.5B
Q2 23	$49.1B	$10.8B	$59.9B
Q3 23	$39.4B	$8.9B	$48.3B
Q4 23	$41.1B	$23.1B	$64.1B
Q1 24	$47.0B	$8.4B	$55.4B
Q2 24	$51.2B	$8.8B	$60.0B
Q3 24	$49.3B	$10.8B	$60.1B
Q4 24	$45.4B	$11.1B	$56.5B
Q1 25	$58.8B	$10.5B	$69.3B
Q2 25	$61.1B	$12.3B	$73.4B
Q3 25	$56.7B	$14.6B	$71.3B
Q4 25	$61.1B	$2.7B	$63.8B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	209M	-0.1%
Q2 23	208M	-0.4%
Q3 23	207M	-0.3%
Q4 23	206M	-0.4%
Q1 24	205M	-0.7%
Q2 24	204M	-0.7%
Q3 24	201M	-1.6%
Q4 24	198M	-1.2%
Q1 25	196M	-1.0%
Q2 25	193M	-1.4%
Q3 25	191M	-1.2%
Q4 25	189M	-1.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$293K	15K
FY 15	$294K	16K
FY 16	$294K	17K
FY 17	$316K	18K
FY 18	$354K	19K
FY 19	$348K	20K
FY 20	$301K	21K
FY 21	$308K	21K
FY 22	$328K	24K
FY 23	$525K	23K
FY 24	$681K	23K
FY 25	$601K	24K