Northern Trust (NTRS) stock
Financials · Asset Management & Custody Banks
Northern Trust (NTRS) is an Asset Management & Custody Banks company in the Financials sector, headquartered in Chicago, Illinois. As of October 23, 2026, NTRS closed at $167.92, a market capitalization of $30.72 billion, the 315th largest company in the S&P 500. Over the last twelve months it generated $9.33 billion in revenue (+12% year over year) and -$217.90 million in free cash flow. The stock trades at 13.2x trailing earnings and 12.9x forward earnings.
- 1-year total return: +37.5% (dividends reinvested)
- 5-year return: +9.2% a year
- 52-week range: $121.53 – $195.78
- Gross margin 0.0%, operating margin 34.8%
- Dividend yield: 2.10%, 1 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 52nd largest of 76 Financials stocks in the S&P 500
NTRS price chart
1Y price change: +34.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| NTRS | -3.5% | +24.8% | +37.5% | +41.8% | +9.2% | +12.0% | +14.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
NTRS key statistics
- Market cap
- $30.7B
- #315 in S&P 500
- P/E (TTM)
- 13.2x
- Forward P/E
- 12.9x
- EPS (TTM)
- $12.75
- Revenue (TTM)
- $9.3B
- +12%
- Free cash flow
- -$217.9M
- Gross margin
- 0.0%
- Operating margin
- 34.8%
- Return on equity
- 18.4%
- Dividend yield
- 2.10%
- 52-week range
- $121.53 – $195.78
- Beta
- 1.25
- Price / sales
- 3.3x
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- 23,800
NTRS report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth12.1%B
- Gross margin0.0%F
- Operating margin34.8%A
- FCF margin-2.3%F
- Return on equity18.4%B
- Net debt / EBITDA——
- Forward P/E12.9xA
- PEG ratio1.0xA
- Shareholder yield6.2%A
- Share count change / yr-1.7%B
Northern Trust financials
Revenue went from $5.0B in fiscal 2016 to $5.0B in fiscal 2025, growing 0.1% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.0B | $3.4B | $3.8B | $3.9B | $4.0B | $4.4B | $4.4B | $4.4B | $4.7B | $5.0B |
| Net income | $1.0B | $1.2B | $1.6B | $1.5B | $1.2B | $1.5B | $1.3B | $1.1B | $2.0B | $1.7B |
| EPS (diluted) | $4.32 | $4.92 | $6.64 | $6.63 | $5.46 | $7.14 | $6.14 | $5.08 | $9.77 | $8.74 |
| Free cash flow | $1.4B | $1.6B | $1.7B | $2.4B | $1.8B | $1.3B | $2.3B | $2.5B | -$587.5M | $5.5B |
| Buybacks | $411.1M | $523.1M | $924.3M | $1.1B | $299.8M | $267.6M | $35.4M | $347.5M | $937.8M | $1.3B |
| Dividends paid | $333.0M | $356.8M | $405.4M | $529.7M | $584.6M | $583.3M | $750.2M | $621.5M | $602.3M | $591.6M |
| Diluted shares | 229.2M | 229.7M | 224.5M | 215.6M | 209.0M | 208.9M | 208.9M | 207.6M | 201.9M | 192.2M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into NTRS?
A reverse DCF asks what growth the current price requires. With an enterprise value of $44.6B and -$217.9M of trailing free cash flow, Northern Trust needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 25.4% a year over the last five years.
P/E ratio history
Current 19.2x vs. median 17.7x (10th–90th percentile 12.9x–22.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
NTRS dividend
- Dividend yield
- 2.10%
- Annual dividend
- $3.52
- Years of increases
- 1
- 5-yr dividend growth
- 2.1%
- per year
- Payout ratio
- 27%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
NTRS analyst price targets
14 analysts' average 12-month target is $181.21 (+8% vs. $167.92). Targets range from $158.00 to $194.00. 13% rate it a buy.
NTRS earnings
Next report: January 21, 2027. Northern Trust has beaten EPS estimates 1 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 21, 2026 | $2.84 | $3.40 | +19.7% |
| Jul 22, 2026 | $4.62 | $4.23 | -8.3% |
| Apr 21, 2026 | $2.33 | $2.71 | +16.1% |
| Jan 22, 2026 | $2.37 | $2.42 | +2.0% |
| Oct 22, 2025 | $2.24 | $2.29 | +2.2% |
| Jul 23, 2025 | $2.04 | $2.13 | +4.3% |
| Apr 22, 2025 | $1.84 | $1.90 | +3.1% |
| Jan 23, 2025 | $2.00 | $2.26 | +12.8% |
Stocks like NTRS
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 BLK BlackRock | -1.67% | +2% | $181.7B | 25.5x | Compare |
 BX Blackstone | -0.66% | -21% | $141.0B | 26.3x | Compare |
 BNY Bank of New York Mellon Cor | -0.03% | +39% | $97.8B | 16.1x | Compare |
 KKR KKR | -1.88% | -24% | $84.4B | 29.2x | Compare |
 APO Apollo Global Management | -1.74% | -7% | $66.6B | 40.4x | Compare |
 STT State Street | -0.01% | +50% | $45.8B | 13.7x | Compare |
 AMP Ameriprise Financial | -0.93% | +4% | $43.5B | 11.9x | Compare |
 ARES Ares Management | -1.31% | -14% | $40.5B | 56.3x | Compare |
NTRS news
- KEY vs. NTRS: Which Stock Should Value Investors Buy Now? · Oct 23, 2026
- Northern Trust Q3 profit climbs 40% · Oct 22, 2026
- NTRS Q3 deep dive: organic growth, AI adoption, and scalable operating leverage · Oct 22, 2026
- Compared to Estimates, Northern Trust (NTRS) Q3 Earnings: A Look at Key Metrics (Revised) · Oct 22, 2026
- Northern Trust (NTRS) Q3 Earnings Highlight Margin Strength Behind Flat Stock · Oct 22, 2026
NTRS stock FAQ
What is NTRS's market cap?
Northern Trust's market capitalization is $30.72 billion as of October 23, 2026, ranking 315th in the S&P 500.
What is NTRS's P/E ratio?
NTRS trades at a trailing price-to-earnings ratio of 13.2x and a forward P/E of 12.9x. Its median P/E over the period we track is 17.7x.
Does NTRS pay a dividend?
Yes. Northern Trust pays $3.52 per share a year, a 2.10% yield. It has raised its dividend 1 years in a row. Dividends grew 2.1% a year over the last five years.
How much has NTRS stock returned?
Including reinvested dividends, NTRS returned +37.5% over one year, +9.2% a year over five years, +12.0% a year over ten years through October 23, 2026.
What is the NTRS price target?
14 analysts cover NTRS with an average 12-month price target of $181.21, +8% from the current price. 12% of them rate it a buy.
When does NTRS report earnings?
Northern Trust is expected to report earnings on January 21, 2027. It has beaten EPS estimates 1 quarters in a row.
How many employees does Northern Trust have?
Northern Trust has about 23,800 full-time employees, or $392,109 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology