Is Northern Trust (NTRS) overvalued or fairly valued?

MarketChacha shows Northern Trust's valuation in context — a trailing P/E of about 18.3, a forward P/E of about 12.9, a price-to-book of about 2.4 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Northern Trust's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.57×) from reported figures — education, not a rating.

What is Northern Trust's revenue?

Northern Trust reported revenue of $5.0B for FY2025, with net profit of $1.7B, per official filings.

What is the share price of Northern Trust (NTRS)?

Northern Trust last traded at $165.46 (+0.6% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Northern Trust

NTRS · NYSE · Financials · United States

Snapshot

TickerNTRS

ExchangeNYSE

SectorFinancials

IndustryAsset Management

CountryUnited States

Employees23,600

HeadquartersChicago, United States

Websitewww.northerntrust.com

Filings tracked16

About Northern Trust

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.

Who owns it

Insiders0.9%
Institutions86.1%
Public & other13.0%

1,394 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.7.94%
Vanguard Capital Management LLC6.44%
State Street Corporation4.97%
FMR, LLC4.75%
Vanguard Portfolio Management LLC4.60%
Primecap Management Company3.33%
Massachusetts Financial Services Co.3.12%
Northern Trust Corporation3.04%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.57×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend25.4% → 34.6%

Margin has expanded by about 9.2 points — the business is getting more profitable.

Growth qualityrev 7% · PAT 25%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $2.3B · EPS 2.94

Est. earnings growth +22.5%

Next fiscal year

Rev $9.5B · EPS 12.71

Est. earnings growth +11.6%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$5.0B

Net margin

34.6%

ROE

13.4%

Revenue CAGR (2y)

+7.3%

Profit CAGR (2y)

+25.2%

EPS (FY2025)

8.74

Net profit (FY2025)

$1.7B

Ask MarketChacha about NTRS

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$5.0B	$1.7B	8.74	34.6%	13.4%
FY2024	$4.7B	$2.0B	9.77	43.0%	15.9%
FY2023	$4.4B	$1.1B	5.08	25.4%	9.3%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$1.3B	$792.2M	—	58.7%
2026Q1	$1.3B	$525.5M	2.71	39.2%
2025Q3	$1.3B	$457.6M	2.29	36.2%
2025Q2	$1.2B	$421.3M	2.13	34.2%
2025Q1	$1.2B	$392.0M	1.90	32.3%
2024Q3	$1.2B	$464.9M	2.22	38.9%
2024Q2	$1.2B	$896.1M	4.34	76.8%
2024Q1	$1.1B	$214.7M	0.96	18.8%
2023Q3	$1.1B	$327.8M	1.49	29.5%
2023Q2	$1.1B	$331.8M	1.56	30.3%
2023Q1	$1.1B	$334.6M	1.51	31.5%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Other events, Exhibits
SEC8/3/2026material
10-Q filing
SEC7/30/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC7/22/2026material
10-Q filing
SEC4/30/2026
8-K — Shareholder vote results, Exhibits
SEC4/22/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC4/21/2026material
8-K — Reg FD disclosure, Exhibits
SEC4/21/2026material
10-K filing
SEC2/24/2026
8-K — Reg FD disclosure, Exhibits
SEC2/10/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC1/22/2026material

2025

8-K — Other events, Exhibits
SEC11/19/2025material
10-Q filing
SEC10/30/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC10/22/2025material
8-K — Executive/director change, Exhibits
SEC9/3/2025material
10-Q filing
SEC7/30/2025
8-K — Other events, Exhibits
SEC7/28/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.