Fundamental analysis · SEC EDGAR · TTM through 30/09/2026

Fundamental analysis of Northern Trust Corp

NTRS · Nasdaq · Financial

Fundamental quality

ATTRACTIVE

79

out of 100

Northern Trust Corp runs like a cash machine: it converts about 20.6% of revenue into free cash flow and holds a 28.8% net margin, though it grows at a measured pace. On fundamental quality it scores 79 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its growth (revenue +5.8%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Northern Trust is the discreet bank of the very wealthy and large institutions: it safekeeps assets for pension funds and family fortunes, manages wealth and earns fees for minding other people's money more than for lending it. White-glove banking with a century and a half of history.

What will shape its future

  • Markets: its fees are charged on custodied assets, which rise and fall with stocks.
  • Interest rates, which set the margin on its banking side.
  • Technology cost pressure in custody, a scale business ever more automated.

Breakdown by area

I.Growth
56

EPS growth: 11.2% · Revenue growth: 5.8%

II.Profitability
87

Net margin: 28.8% · ROE: 18.2%

III.Financial health
95

FCF: 20.6%

Source: SEC EDGAR · TTM through 30/09/2026

The score combines growth, profitability and financial strength. Here its financial strength weighs in its favor, while its growth drags it down the most.

Versus its sector

Percentile against the other 71 Financial companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 81%
ROEbeats 65%
Growthbeats 22%
Cash generationbeats 56%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Why isn't a bank measured like other companies? Read the how to analyze a bank guide.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Northern Trust Corp strengths

  • Excellent free-cash-flow generation (FCF margin of 20.6%): profit turns into real cash.
  • Exceptional net margin (28.8%): the business is clearly profitable.
  • Strong return on equity (ROE of 18.2%): it puts shareholder capital to good use.
  • Growing earnings per share (11.2% annualized).

Northern Trust Corp risks and weaknesses

  • No clear weaknesses in the recent fundamentals, though the system doesn't assess qualitative factors (competition, regulation, management).

Northern Trust Corp historical evolution

YearRevenueNet incomeFree cash flowNet debt
20206,1011,2091,761-1,267
20216,4651,5451,261-551
20226,7611,3362,264-1,930
20236,7741,1072,509-2,018
20248,2902,031-587-1,907
20258,0861,7375,460-2,522

Between 2020 and 2025, revenue went from $6,101M to $8,086M (+33%) and net income went from $1,209M to $1,737M (+44%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the nine months ended September 30, 2026, versus the nine months ended September 30, 2025 (SEC filings):

  • Revenue+9.5%
  • Net income+54.3%

What changed with the September 30, 2026 results

Compared with the previous close (June 30, 2026), this is what moved in its accounts:

  • Quality score67→79
  • Net margin26.9%→28.8%
  • ROE16.7%→18.2%
  • FCF margin5.3%→20.6%

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$3.1

per share, yearly

34.1% of earnings

Payout

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is Northern Trust Corp cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →

Frequently asked questions

Is Northern Trust Corp a good company to invest in?

In terms of business quality, Northern Trust Corp scores 79 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Northern Trust Corp a profitable company?

Very. Northern Trust Corp shows a net margin of 28.8% and an ROE of 18.2%, typical of a highly profitable business.

Is Northern Trust Corp growing?

Its revenue has grown 5.8% annualized in recent years and its earnings per share 11.2%.

Does Northern Trust Corp generate cash?

Yes. It converts about 20.6% of its revenue into free cash flow.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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