Northern Trust (NTRS): financials, SEC filings and peers

Northern Trust (NTRS) is an asset management & custody banks company in the Financials sector of the S&P 500, headquartered in Chicago, Illinois.

It was founded in 1889 and joined the S&P 500 on January 30, 1998.

Its fiscal year ends in December, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “State Commercial Banks”.

Northern Trust at a glance

Revenue (12 months): $5.4B
Revenue growth: +8.9%
Operating margin: 59.5%
Net income (12 months): $2.4B
Free cash flow (12 months): $1.7B
Cash: $6.4B
Debt: —
Diluted EPS (12 months): —

Twelve months to September 30, 2026, from the 10-Q filed October 29, 2026.

Latest twelve months

Over the twelve months to September 30, 2026, Northern Trust reported revenue of $5.4 billion, up 8.9% from a year earlier.

Its operating margin was 59.5%, up 12.9 percentage points from a year earlier: for every $100 of sales, about $59 was left as operating profit.

Net income was $2.4 billion (45.2% of revenue), 40.6% higher than a year earlier.

Operating cash flow was $1.8 billion and capital spending $90 million, leaving free cash flow of $1.7 billion (32.4% of revenue).

At the end of the period it held $6.4 billion in cash and not reported in debt, a net cash position of $6.4 billion.

The diluted share count fell 4.1% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $6.1 billion in fiscal 2020 to $8.1 billion in fiscal 2025, about 5.8% a year.
Free cash flow was negative in 1 of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$6.5B	$6.8B	$6.8B	$8.3B	$8.1B
Revenue growth	6.0%	4.6%	0.2%	22.4%	-2.5%
Operating margin	—	—	—	—	—
Net income	$1.5B	$1.3B	$1.1B	$2.0B	$1.7B
Free cash flow	$1.3B	$2.3B	$2.5B	−$588M	$5.5B
Diluted EPS	$7.14	$6.14	$5.08	$9.77	$8.74

Fiscal years as reported in Northern Trust’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed November 10, 2026 — Other event
10-Q filed October 29, 2026 — quarterly report
8-K filed October 21, 2026 — Earnings results; Regulation FD disclosure
8-K filed October 20, 2026 — Executive or director change; Regulation FD disclosure
8-K filed September 29, 2026 — Executive or director change; Regulation FD disclosure
8-K filed August 3, 2026 — Other event
10-Q filed July 30, 2026 — quarterly report
8-K filed July 22, 2026 — Earnings results; Regulation FD disclosure

All Northern Trust filings on SEC EDGAR

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Questions about Northern Trust

Is Northern Trust's revenue growing?

Yes. Revenue for the twelve months to September 30, 2026 was $5.4 billion, up 8.9% from a year earlier, according to its SEC filings.

Is Northern Trust profitable?

Yes. It earned $2.4 billion in net income over the twelve months to September 30, 2026, a net margin of 45.2%.

When did Northern Trust last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on October 29, 2026.

Which companies are similar to Northern Trust?

In the S&P 500, Northern Trust is grouped in Asset Management & Custody Banks within the Financials sector. Ameriprise Financial (AMP), Apollo Global Management (APO), Ares Management (ARES), Franklin Resources (BEN), BlackRock (BLK) are in the same group.

Understand the numbers

Source: Northern Trust’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.