# Northern Trust Corp (NTRS) — Stock CV

Northern Trust Corp is a $30.8B financial services company. Revenue grew 8.2% over the last year, and it keeps 43¢ of every dollar of sales as profit. It trades at 13.7× earnings — around the middle of its own history.

> Northern Trust is a leading provider of wealth management, asset servicing, asset management, and banking to corporations, institutions, affluent families, and individuals.

## Identity

- **Ticker**: NTRS
- **Sector**: Financial Services
- **Industry**: State Commercial Banks
- **Headquarters**: CHICAGO, IL
- **Employees**: 23 800
- **Website**: https://www.northerntrust.com
- **Market cap**: $30.8B
- **Last price**: $168.21
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $5.26B
- **Net income**: $2.24B
- **Free cash flow**: $445M
- **Net debt**: $12.4B
- **P/E**: 13.7
- **Revenue growth (YoY)**: 8.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 42 |
| Growth | 24 |
| Profitability | 75 |
| Health | 45 |
| Quality | 45 |
| Moat | 49 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +8.2% YoY
- [x] Profitable — $2.24B TTM
- [x] Profit growing — +12.2% YoY
- [x] Generates cash — $445M TTM
- [ ] Debt under control — ~27.9y of cash flow to repay
- [x] Established company — $30.8B market cap
- [x] Not printing shares — -8.0% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 25/100
- [x] Pays a dividend — yield 2.08%
- [x] Valuation not extreme — P/E 13.7

## Experience (career milestones)

- **FY2024** — Best year on record: $2.03B net income
- **2017** — Northern Trust acquired UBS Asset Management's fund administration servicing units in Switzerland and…
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $5.14B in first reported year
- **2005** — Northern Trust and Enron reached a $365 million settlement with 20,000 employees of Enron after the energy…
- **1986** — The bank acquired First Lake Forest Corporation for $61 million in cash

## Strengths

- High gross margin (100.0%)
- Strongly profitable — 42.6% net margin

## Watch-outs

- Net debt equals ~27.9 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.36B | $1.55B | $1.26B |
| FY2022 | $4.43B | $1.34B | $2.26B |
| FY2023 | $4.36B | $1.11B | $2.51B |
| FY2024 | $4.73B | $2.03B | -$588M |
| FY2025 | $5.02B | $1.74B | $5.46B |

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Source: https://stockcv.com/NTRS — derived from company filings; may be delayed or incomplete. Information, not investment advice.