Northern Trust (NTRS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Northern Trust

NasdaqGS•Financial Services•Asset Management

$176.94+0.30(<0.01%)After hours

Market Cap

$32.56B

P/E

14.5x

P/S

6.2x

P/B

2.4x

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytics services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage, transition management, banking, and cash management services. It serves corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors. The Wealth Management segment offers trust, investment management, custody, and philanthropic services; financial consulting; guardianship and estate administration; family business consulting; family financial education; brokerage; and private and business banking services. This segment also provides global custody, fiduciary services, family office consulting, and technology solutions to high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately held businesses. In addition, it offers asset management and related services comprising active and passive equity; active and passive fixed income; cash management; multi-asset and alternative asset classes that include private equity and hedge funds of funds; and multi-manager advisory services and products through separately managed accounts, bank common and collective funds, registered investment companies, exchange-traded funds, non-U.S. collective investment funds, and unregistered private investment funds. Further, the company provides overlay and other risk management services. The company was founded in 1889 and is headquartered in Chicago, Illinois.

How this company scores

GoodMetricSide Score: 67/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (10/25).

Profitability25/25

Growth21/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality11/25

Strengths

Strong marginsHigh ROERising earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 14.5x5y range 8.7x – 18.7x

Currently near its 20-quarter median.

P/S · 6.2x5y range 3.9x – 6.2x

Currently above its 20-quarter median.

P/B · 2.4x5y range 1.4x – 2.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $32.56B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.26B
Q. Revenue: $1.35B
TTM EBITDA: $3.02B
TTM Op. Income: $3.02B
Q. Op. Income: $1.06B
TTM Net Income: $2.24B
Q. Net Income: $792.20M
EPS: N/A
Shares Out.: $183.99M

$5.26B in TTM revenue grew 8.2% YoY, reaching $1.35B last quarter. TTM EBITDA of $3.02B and TTM operating income of $3.02B show growth is flowing through to the bottom line. TTM net income of $2.24B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 78.9%
Op. Margin: 78.9%
Net Margin: 58.7%

Op. margin of 78.9% is up 33.0% YoY — cost efficiency is improving. Net margin at 58.7% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 14.5x
P/S Ratio: 6.2x
P/B Ratio: 2.4x

At 14.5x P/E, the stock trades below typical market levels. P/S of 6.2x and P/B of 2.4x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 3% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $179.30B
Cash: $5.74B
Long-Term Debt: N/A
Book Value: $13.40B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-64.90M
TTM Free Cash Flow: $445.30M
FCF Margin: 8.5%
FCF / Net Income: 0.2

TTM FCF of $445.30M on $-64.90M in operating cash flow. The FCF / Net Income ratio of 0.2x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.