NTRS FY 2025 Earnings Report — Northern Trust Corporation Revenue & Financial Results | Market Cap Arena

Northern Trust CorporationNTRS

FY 2025 Earnings

Reported February 24, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$14.3B	—	$15.9B	—	-9.9%
Op. Income	$2.3B	—	$2.7B	—	-12.3%
Gross Margin	56.5%	—	52.2%	—	4.3pp
Net Margin	12.1%	—	12.8%	—	-0.6pp
EPS (Diluted)	$8.74	—	$9.77	—	-10.5%
Free Cash Flow	$5.5B	—	-$1.2B	—	543.3%

Revenue Flow

Item	Amount
REVENUE	$14.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$8.1B
R&D Expenses	$0
Selling & Marketing	$92M
General & Administrative	$3.4B
SG&A Expenses	$3.5B
Other Expenses	$2.3B
Operating Expenses	$5.8B
Cost & Expenses	$12.0B
OPERATING INCOME	$2.3B
Interest Income	$8.6B
Interest Expense	$6.2B
Other Income/Expenses	$8M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$603M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$883M
EBIT	$2.3B
EBITDA	$3.2B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$14.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$8.1B
R&D Expenses	$0
Selling & Marketing	$92M
General & Administrative	$3.4B
SG&A Expenses	$3.5B
Other Expenses	$2.3B
Operating Expenses	$5.8B
Cost & Expenses	$12.0B
OPERATING INCOME	$2.3B
Interest Income	$8.6B
Interest Expense	$6.2B
Other Income/Expenses	$8M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$603M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$883M
EBIT	$2.3B
EBITDA	$3.2B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$779M
Stock-Based Compensation	$0
Deferred Income Tax	$195M
Other Non-Cash Items	$109M
Change in Working Capital	$2.7B
OPERATING CASH FLOW	$5.5B
Capital Expenditure	-$74M
Acquisitions (Net)	$0
Purchases of Investments	-$44.7B
Sales/Maturities of Investments	$37.8B
Other Investing Activities	-$12.5B
NET CASH FROM INVESTING	-$20.2B
Net Debt Issuance	$278M
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$592M
Other Financing Activities	$16.8B
NET CASH FROM FINANCING	$15.2B
FREE CASH FLOW	$5.5B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$61.1B
Short-Term Investments	$2.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$63.8B
PP&E (Net)	$465M
Goodwill	$713M
Intangible Assets	$0
Long-Term Investments	$57.5B
Tax Assets	$0
Other Non-Current Assets	$54.7B
TOTAL NON-CURRENT ASSETS	$113.4B
TOTAL ASSETS	$177.1B
Account Payables	$0
Short-Term Debt	$12.9B
Deferred Revenue	$0
Other Current Liabilities	$142.8B
TOTAL CURRENT LIABILITIES	$155.7B
Long-Term Debt	$3.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.9B
TOTAL NON-CURRENT LIABILITIES	$8.4B
TOTAL LIABILITIES	$164.2B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$12.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$591M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.0B
Minority Interest	$0
TOTAL EQUITY	$13.0B
TOTAL LIABILITIES & EQUITY	$177.1B
Total Debt	$16.4B
Net Debt	-$44.7B