financial statements

The full income statement, balance sheet, and cash-flow statement for Northern Trust Corporation (NTRS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.02B YoY+6.1%	4.73B YoY+8.4%	4.36B YoY-1.6%	4.43B YoY+1.6%	4.36B YoY+9.2%
Noninterest income	5.68B YoY-7.2%	6.11B YoY+27.6%	4.79B YoY-1.7%	4.87B YoY-4.1%	5.08B YoY+9.1%
Amortization of intangibles	—	—	—	9.30M YoY-37.2%	14.8M YoY-12.4%
Noninterest expense	5.75B YoY+2.1%	5.63B YoY+6.6%	5.28B YoY+6.0%	4.98B YoY+9.9%	4.54B YoY+4.3%
Interest expense	—	—	5.34B YoY+439.4%	991M YoY+4061.8%	23.8M YoY-88.1%
Interest & investment income	8.62B YoY-11.7%	9.76B YoY+33.3%	7.33B YoY+154.5%	2.88B YoY+104.6%	1.41B YoY-14.4%
Net interest income	2.41B YoY+10.7%	2.18B YoY+9.8%	1.98B YoY+5.0%	1.89B YoY+36.5%	1.38B YoY-4.2%
Pre-tax income	2.34B YoY-12.0%	2.66B YoY+81.6%	1.46B YoY-17.1%	1.77B YoY-12.1%	2.01B YoY+23.5%
Income tax	603M YoY-4.1%	628M YoY+75.8%	358M YoY-16.9%	430M YoY-7.4%	465M YoY+11.1%
	1.74B YoY-14.5%	2.03B YoY+83.4%	1.11B YoY-17.1%	1.34B YoY-13.5%	1.55B YoY+27.8%
Preferred dividends	41.8M YoY+0.0%	41.8M YoY+0.0%	41.8M YoY+0.0%	41.8M YoY+0.0%	41.8M YoY-6.5%
Net income to common	1.70B YoY-14.8%	1.99B YoY+86.7%	1.07B YoY-17.7%	1.29B YoY-13.9%	1.50B YoY+30.4%
	$8.74 YoY-10.5%	$9.77 YoY+92.3%	$5.08 YoY-17.3%	$6.14 YoY-14.0%	$7.14 YoY+30.8%
EPS (basic)	$8.78 YoY-10.4%	$9.80 YoY+92.5%	$5.09 YoY-17.4%	$6.16 YoY-14.0%	$7.16 YoY+30.7%
Weighted-avg shares (basic)	191M YoY-4.9%	201M YoY-2.9%	207M YoY-0.5%	208M YoY+0.1%	208M YoY-0.1%
Weighted-avg shares (diluted)	192M YoY-4.8%	202M YoY-2.7%	208M YoY-0.6%	209M YoY-0.0%	209M YoY-0.1%
Dividends per share	$3.10 YoY+3.3%	$3.00 YoY+0.0%	$3.00 YoY+3.4%	$2.90 YoY+3.6%	$2.80 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	5.87B YoY+25.6%	4.68B YoY-2.4%	4.79B YoY+3.0%	4.65B YoY+52.3%	3.06B YoY-30.4%
	177B YoY+13.9%	156B YoY+3.1%	151B YoY-2.7%	155B YoY-15.7%	184B YoY+8.2%
Property, plant & equipment	465M YoY-5.2%	490M YoY-2.4%	502M YoY+0.3%	501M YoY+2.4%	489M YoY-5.1%
Operating lease right-of-use	465M YoY-2.8%	478M YoY-8.6%	523M YoY+7.8%	485M YoY-8.7%	531M YoY-5.2%
Goodwill	713M YoY+2.6%	695M YoY-1.1%	702M YoY+1.6%	691M YoY-2.1%	706M YoY-0.1%
Intangible assets	95.8M YoY+0.0%	95.8M YoY+0.0%	95.8M YoY+0.0%	95.8M YoY+0.0%	95.8M YoY-14.9%
	164B YoY+15.0%	143B YoY+2.8%	139B YoY-3.4%	144B YoY-16.3%	172B YoY+8.6%
Long-term debt	1.42B YoY+0.0%	1.42B YoY+0.0%	1.42B YoY+0.0%	1.42B YoY+0.0%	1.42B YoY+0.0%
	13.0B YoY+1.3%	12.8B YoY+7.5%	11.9B YoY+5.7%	11.3B YoY-6.3%	12.0B YoY+2.8%
Preferred stock	389M YoY+0.0%	389M YoY+0.0%	389M YoY+0.0%	389M YoY+0.0%	389M YoY+0.0%
Common stock	409M YoY+0.0%	409M YoY+0.0%	409M YoY+0.0%	409M YoY+0.0%	409M YoY+0.0%
Additional paid-in capital	1.04B YoY+1.3%	1.03B YoY+1.6%	1.01B YoY+2.7%	984M YoY+4.7%	939M YoY-2.5%
Retained earnings	16.7B YoY+7.0%	15.6B YoY+9.7%	14.2B YoY+3.2%	13.8B YoY+5.2%	13.1B YoY+7.5%
Treasury stock	5.49B YoY+26.8%	4.33B YoY+23.7%	3.50B YoY+7.8%	3.25B YoY-1.5%	3.30B YoY+2.9%
Accumulated other comprehensive income	-591M YoY+27.5%	-814M YoY+28.5%	-1.14B YoY+27.5%	-1.57B YoY-4307.9%	-35.6M YoY-108.3%
Total liabilities & equity	177B YoY+13.9%	156B YoY+3.1%	151B YoY-2.7%	155B YoY-15.7%	184B YoY+8.2%
Common shares issued	245M YoY+1321.4%	17.3M YoY+0.0%	17.3M YoY+0.0%	17.3M YoY+0.0%	17.3M YoY+0.0%
Common shares outstanding	186M YoY-4.9%	196M YoY-4.5%	205M YoY-1.6%	208M YoY+0.3%	208M YoY-0.3%
Shares outstanding (cover)	189M YoY-4.6%	198M YoY-4.3%	207M YoY-0.7%	208M YoY+0.4%	208M YoY-0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.53B YoY+1238.6%	-486M YoY-118.5%	2.63B YoY+9.7%	2.39B YoY+76.4%	1.36B YoY-28.5%
Depreciation & amortization	779M YoY+8.7%	717M YoY+13.0%	635M YoY+14.6%	554M YoY+7.4%	516M YoY+3.1%
Deferred income taxes	195M YoY+839.6%	20.7M YoY+142.9%	-48.2M YoY+66.2%	-143M YoY-7235.0%	2.00M YoY-87.8%
	-20.2B YoY-686.8%	-2.56B YoY-153.6%	4.78B YoY-81.5%	25.9B YoY+239.4%	-18.6B YoY+37.8%
Capital expenditure	74.0M YoY-27.1%	102M YoY-12.9%	117M YoY-9.4%	129M YoY+34.7%	95.5M YoY-29.7%
Other investing activities	986M YoY+224.4%	-793M YoY-2467.5%	33.5M YoY-89.5%	319M YoY+95.1%	164M YoY-49.3%
	15.2B YoY+341.2%	3.44B YoY+147.9%	-7.18B YoY+72.8%	-26.4B YoY-264.5%	16.1B YoY-42.3%
Common stock repurchased	1.27B YoY+35.8%	938M YoY+169.9%	348M YoY+881.6%	35.4M YoY-86.8%	268M YoY-10.7%
Dividends paid	592M YoY-1.8%	602M YoY-3.1%	622M YoY-17.2%	750M YoY+28.6%	583M YoY-0.2%
Other financing activities	-11.1M YoY-73.4%	-6.40M YoY-137.0%	-2.70M	0.00 YoY-100.0%	100K YoY-91.7%
FX effect on cash	656M YoY+230.2%	-504M YoY-461.6%	-89.8M YoY+68.8%	-287M YoY-80.1%	-160M YoY-288.7%
Net change in cash	1.20B YoY+1146.3%	-114M YoY-183.2%	137M YoY-91.4%	1.60B YoY+219.9%	-1.33B YoY-1812.1%
Interest paid	6.22B YoY-18.2%	7.61B YoY+44.0%	5.29B YoY+542.7%	822M YoY+2570.1%	30.8M YoY-86.4%
Income taxes paid	427M YoY+58.9%	269M YoY-25.9%	363M YoY-21.2%	460M YoY+24.0%	371M YoY+13.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	25.8B YoY+27.1%	20.3B YoY+16.3%	17.5B YoY-5.3%	18.4B YoY-25.7%	24.8B YoY+28.1%
P/E	14.9× YoY+48.7%	10.0× YoY-34.2%	15.2× YoY+30.7%	11.6× YoY-27.7%	16.1× YoY+0.3%
P/S	5.1× YoY+19.8%	4.3× YoY+6.1%	4.0× YoY-1.2%	4.1× YoY-28.1%	5.7× YoY+17.4%
P/B	2.0× YoY+25.5%	1.6× YoY+7.7%	1.5× YoY-11.8%	1.7× YoY-19.1%	2.1× YoY+24.6%
P/FCF	4.7×	—	4.5× YoY-95.6%	101.8× YoY+416.8%	19.7× YoY+79.0%
Earnings yield	6.7% YoY-32.7%	10.0% YoY+51.9%	6.6% YoY-23.5%	8.6% YoY+38.3%	6.2% YoY-0.3%
FCF yield	21.1%	—	22.1% YoY+2152.3%	1.0% YoY-80.7%	5.1% YoY-44.1%
Dividend yield	2.3% YoY-22.5%	2.9% YoY-17.7%	3.6% YoY+8.5%	3.3% YoY+40.0%	2.3% YoY-22.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: NTRS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NTRS filings on SEC EDGAR → Not investment advice.

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About this data

financial statements