NORTHERN TRUST CORP (NTRS) Fundamental Analysis & Valuation

NASDAQ:NTRS • US6658591044

142.485 USD
-2.58 (-1.78%)
Last: Mar 5, 2026, 02:50 PM
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This NTRS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to NTRS. NTRS was compared to 238 industry peers in the Capital Markets industry. While NTRS is still in line with the averages on profitability rating, there are concerns on its financial health. NTRS has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. NTRS Profitability Analysis

1.1 Basic Checks

  • NTRS had positive earnings in the past year.
  • In the past year NTRS had a positive cash flow from operations.
  • In the past 5 years NTRS has always been profitable.
  • In multiple years NTRS reported negative operating cash flow during the last 5 years.
NTRS Yearly Net Income VS EBIT VS OCF VS FCFNTRS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B

1.2 Ratios

  • NTRS's Return On Assets of 0.98% is on the low side compared to the rest of the industry. NTRS is outperformed by 65.55% of its industry peers.
  • NTRS has a better Return On Equity (12.88%) than 71.43% of its industry peers.
  • NTRS's Return On Invested Capital of 1.02% is on the low side compared to the rest of the industry. NTRS is outperformed by 65.97% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for NTRS is significantly below the industry average of 7.26%.
Industry RankSector Rank
ROA 0.98%
ROE 12.88%
ROIC 1.02%
ROA(3y)0.97%
ROA(5y)0.91%
ROE(3y)12.41%
ROE(5y)12.21%
ROIC(3y)1.07%
ROIC(5y)1%
NTRS Yearly ROA, ROE, ROICNTRS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • NTRS has a Profit Margin (12.22%) which is in line with its industry peers.
  • NTRS's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 16.83%, NTRS is doing worse than 60.08% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NTRS has grown nicely.
  • With a decent Gross Margin value of 57.99%, NTRS is doing good in the industry, outperforming 65.55% of the companies in the same industry.
Industry RankSector Rank
OM 16.83%
PM (TTM) 12.22%
GM 57.99%
OM growth 3Y6.17%
OM growth 5Y1.82%
PM growth 3Y6.64%
PM growth 5Y2.3%
GM growth 3YN/A
GM growth 5YN/A
NTRS Yearly Profit, Operating, Gross MarginsNTRS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80 100

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. NTRS Health Analysis

2.1 Basic Checks

  • The number of shares outstanding for NTRS has been reduced compared to 1 year ago.
  • The number of shares outstanding for NTRS has been reduced compared to 5 years ago.
  • The debt/assets ratio for NTRS is higher compared to a year ago.
NTRS Yearly Shares OutstandingNTRS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
NTRS Yearly Total Debt VS Total AssetsNTRS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

2.2 Solvency

  • Based on the Altman-Z score of -0.62, we must say that NTRS is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of -0.62, NTRS is not doing good in the industry: 84.03% of the companies in the same industry are doing better.
  • NTRS has a debt to FCF ratio of 88.33. This is a negative value and a sign of low solvency as NTRS would need 88.33 years to pay back of all of its debts.
  • NTRS's Debt to FCF ratio of 88.33 is in line compared to the rest of the industry. NTRS outperforms 50.84% of its industry peers.
  • NTRS has a Debt/Equity ratio of 11.69. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 11.69, NTRS is not doing good in the industry: 89.08% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 11.69
Debt/FCF 88.33
Altman-Z -0.62
ROIC/WACCN/A
WACCN/A
NTRS Yearly LT Debt VS Equity VS FCFNTRS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

2.3 Liquidity

  • NTRS has a Current Ratio of 0.04. This is a bad value and indicates that NTRS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NTRS has a worse Current ratio (0.04) than 93.70% of its industry peers.
  • NTRS has a Quick Ratio of 0.04. This is a bad value and indicates that NTRS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.04, NTRS is not doing good in the industry: 93.70% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.04
Quick Ratio 0.04
NTRS Yearly Current Assets VS Current LiabilitesNTRS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. NTRS Growth Analysis

3.1 Past

  • NTRS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 17.01%, which is quite good.
  • NTRS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.54% yearly.
  • NTRS shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -18.69%.
  • The Revenue has been growing slightly by 5.60% on average over the past years.
EPS 1Y (TTM)17.01%
EPS 3Y13.64%
EPS 5Y8.54%
EPS Q2Q%19.03%
Revenue 1Y (TTM)-18.69%
Revenue growth 3Y2.59%
Revenue growth 5Y5.6%
Sales Q2Q%8.99%

3.2 Future

  • NTRS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.60% yearly.
  • NTRS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.83% yearly.
EPS Next Y13.59%
EPS Next 2Y11.7%
EPS Next 3Y12%
EPS Next 5Y11.6%
Revenue Next Year6.77%
Revenue Next 2Y5.51%
Revenue Next 3Y5.47%
Revenue Next 5Y4.83%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NTRS Yearly Revenue VS EstimatesNTRS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B
NTRS Yearly EPS VS EstimatesNTRS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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5

4. NTRS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 15.81, the valuation of NTRS can be described as correct.
  • NTRS's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.03. NTRS is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 13.92, which indicates a correct valuation of NTRS.
  • The rest of the industry has a similar Price/Forward Earnings ratio as NTRS.
  • When comparing the Price/Forward Earnings ratio of NTRS to the average of the S&P500 Index (25.11), we can say NTRS is valued slightly cheaper.
Industry RankSector Rank
PE 15.81
Fwd PE 13.92
NTRS Price Earnings VS Forward Price EarningsNTRS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • NTRS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. NTRS is cheaper than 87.82% of the companies in the same industry.
  • NTRS's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NTRS is cheaper than 69.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 15.49
EV/EBITDA 9.89
NTRS Per share dataNTRS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • NTRS's earnings are expected to grow with 12.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.16
PEG (5Y)1.85
EPS Next 2Y11.7%
EPS Next 3Y12%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. NTRS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.17%, NTRS has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 6.54, NTRS has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, NTRS has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.17%

5.2 History

  • The dividend of NTRS has a limited annual growth rate of 1.90%.
  • NTRS has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NTRS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.9%
Div Incr Years0
Div Non Decr Years25
NTRS Yearly Dividends per shareNTRS Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • NTRS pays out 37.83% of its income as dividend. This is a sustainable payout ratio.
  • NTRS's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP37.83%
EPS Next 2Y11.7%
EPS Next 3Y12%
NTRS Yearly Income VS Free CF VS DividendNTRS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B
NTRS Dividend Payout.NTRS Dividend Payout, showing the Payout Ratio.NTRS Dividend Payout.PayoutRetained Earnings

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NTRS Fundamentals: All Metrics, Ratios and Statistics

NORTHERN TRUST CORP

NASDAQ:NTRS (3/5/2026, 2:50:10 PM)

142.485

-2.58 (-1.78%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-22
Earnings (Next)04-21
Inst Owners87.54%
Inst Owner Change-2.38%
Ins Owners0.84%
Ins Owner Change9.8%
Market Cap26.55B
Revenue(TTM)12.29B
Net Income(TTM)1.67B
Analysts56.36
Price Target162.86 (14.3%)
Short Float %1.03%
Short Ratio1.75
Dividend
Industry RankSector Rank
Dividend Yield 2.17%
Yearly Dividend3.31
Dividend Growth(5Y)1.9%
DP37.83%
Div Incr Years0
Div Non Decr Years25
Ex-Date03-06
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.93%
Min EPS beat(2)-0.03%
Max EPS beat(2)1.89%
EPS beat(4)3
Avg EPS beat(4)3.11%
Min EPS beat(4)-0.03%
Max EPS beat(4)9.83%
EPS beat(8)6
Avg EPS beat(8)5.97%
EPS beat(12)6
Avg EPS beat(12)-1.98%
EPS beat(16)8
Avg EPS beat(16)-1.49%
Revenue beat(2)1
Avg Revenue beat(2)-0.21%
Min Revenue beat(2)-1.79%
Max Revenue beat(2)1.37%
Revenue beat(4)1
Avg Revenue beat(4)-0.77%
Min Revenue beat(4)-2.11%
Max Revenue beat(4)1.37%
Revenue beat(8)2
Avg Revenue beat(8)-2.93%
Revenue beat(12)3
Avg Revenue beat(12)-1.49%
Revenue beat(16)5
Avg Revenue beat(16)-0.75%
PT rev (1m)11.93%
PT rev (3m)18.51%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.12%
EPS NY rev (1m)5.29%
EPS NY rev (3m)7.47%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.29%
Revenue NY rev (1m)0.95%
Revenue NY rev (3m)2.64%
Valuation
Industry RankSector Rank
PE 15.81
Fwd PE 13.92
P/S 1.94
P/FCF 15.49
P/OCF 10.58
P/B 2.05
P/tB 2.7
EV/EBITDA 9.89
EPS(TTM)9.01
EY6.32%
EPS(NY)10.23
Fwd EY7.18%
FCF(TTM)9.2
FCFY6.46%
OCF(TTM)13.47
OCFY9.45%
SpS73.32
BVpS69.53
TBVpS52.77
PEG (NY)1.16
PEG (5Y)1.85
Graham Number118.72
Profitability
Industry RankSector Rank
ROA 0.98%
ROE 12.88%
ROCE 8.93%
ROIC 1.02%
ROICexc 1.04%
ROICexgc 1.12%
OM 16.83%
PM (TTM) 12.22%
GM 57.99%
FCFM 12.55%
ROA(3y)0.97%
ROA(5y)0.91%
ROE(3y)12.41%
ROE(5y)12.21%
ROIC(3y)1.07%
ROIC(5y)1%
ROICexc(3y)1.1%
ROICexc(5y)1.03%
ROICexgc(3y)1.19%
ROICexgc(5y)1.11%
ROCE(3y)10.34%
ROCE(5y)10.1%
ROICexgc growth 3Y0.79%
ROICexgc growth 5Y6.01%
ROICexc growth 3Y1.82%
ROICexc growth 5Y6.12%
OM growth 3Y6.17%
OM growth 5Y1.82%
PM growth 3Y6.64%
PM growth 5Y2.3%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 11.69
Debt/FCF 88.33
Debt/EBITDA 49.41
Cap/Depr 104.01%
Cap/Sales 5.83%
Interest Coverage 0.36
Cash Conversion 81.9%
Profit Quality 102.71%
Current Ratio 0.04
Quick Ratio 0.04
Altman-Z -0.62
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)17.01%
EPS 3Y13.64%
EPS 5Y8.54%
EPS Q2Q%19.03%
EPS Next Y13.59%
EPS Next 2Y11.7%
EPS Next 3Y12%
EPS Next 5Y11.6%
Revenue 1Y (TTM)-18.69%
Revenue growth 3Y2.59%
Revenue growth 5Y5.6%
Sales Q2Q%8.99%
Revenue Next Year6.77%
Revenue Next 2Y5.51%
Revenue Next 3Y5.47%
Revenue Next 5Y4.83%
EBIT growth 1Y-7%
EBIT growth 3Y8.92%
EBIT growth 5Y7.53%
EBIT Next Year14.94%
EBIT Next 3Y9.29%
EBIT Next 5YN/A
FCF growth 1Y-59.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-49.31%
OCF growth 3YN/A
OCF growth 5YN/A

NORTHERN TRUST CORP / NTRS FAQ

What is the ChartMill fundamental rating of NORTHERN TRUST CORP (NTRS) stock?

ChartMill assigns a fundamental rating of 4 / 10 to NTRS.


What is the valuation status for NTRS stock?

ChartMill assigns a valuation rating of 5 / 10 to NORTHERN TRUST CORP (NTRS). This can be considered as Fairly Valued.


What is the profitability of NTRS stock?

NORTHERN TRUST CORP (NTRS) has a profitability rating of 4 / 10.


What are the PE and PB ratios of NORTHERN TRUST CORP (NTRS) stock?

The Price/Earnings (PE) ratio for NORTHERN TRUST CORP (NTRS) is 15.81 and the Price/Book (PB) ratio is 2.05.


How financially healthy is NORTHERN TRUST CORP?

The financial health rating of NORTHERN TRUST CORP (NTRS) is 1 / 10.