Northern Trust Corporation (NTRS) Stock

Northern Trust Corporation (NTRS) is a Financials stock trading at $182.50 (as of 2026-08-20), with a market capitalization of $33.39B and a trailing P/E of 14.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Northern Trust Corporation provides asset servicing and wealth management solutions, including custody, fund administration, investment operations services, and related banking and cash management, as well as trust, investment management, estate and philanthropic services. It serves corporate and public retirement funds and other institutions, along with high-net-worth individuals and families.

Understand Northern Trust Corporation: how it makes money

Northern Trust provides wealth management, asset servicing, and related banking solutions to corporations, institutions, families, and individuals, and it makes money through fee-based revenues from Asset Servicing and Wealth Management.

Northern Trust's profit engine is recurring, fee-based activity from two service businesses, Asset Servicing and Wealth Management, so revenue performance in each segment directly drives overall results.

Business quality (Strong): Clear two-segment structure and segment revenue figures, but limited operating KPIs and limited detail on what specifically drives changes within each segment.

Valuation: At 18× earnings, NTRS trades 44% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Two large revenue engines: Segment revenues show Asset Servicing and Wealth Management are both major contributors, so strength in either segment can support overall results.
  • Broad service scope within segments: Asset Servicing covers custody, fund administration, investment operations outsourcing, securities lending, foreign exchange, treasury management, brokerage services, and related services, while Wealth Management provides wealth management revenues.

Bear case

  • Concentration across only two segments: With only Asset Servicing and Wealth Management as reportable segments, weakness in either segment's revenues can put pressure on total revenue.
  • Revenue mix sensitivity: Because the company earns segment revenues from distinct service lines, shifts in the relative performance of Asset Servicing versus Wealth Management can change results.
Valuation — source: SEC EDGAR (first-party)
Price$182.50
Market Cap$33.39B
P/E Ratio14.5
EV / EBITDA6.2
Price / Book2.49
Price / Sales6.30
FCF Yield12.1%
DCF Value (model)$173.66
DCF Upside vs Price-4.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$8.09B
Net Margin21.5%
Revenue Growth (YoY)-2.5%
EPS Growth (YoY)-10.4%
FCF Growth (YoY)-1029.3%
Valuation vs Sector & Industry
Stock P/E14.5
Sector P/E (Financials)15.1
Industry P/E (Banking)12.9
vs Sector-4.1%
vs Industry12.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($3.04B)
Institutional Holders Tracked10
Congressional Trades (recent)8
Company
SectorFinancials
IndustryBanking
CEOMichael Gerard O'Grady
Employees23,400
CountryUS
IPO Date1980-03-17

Related Companies (Business model: Asset Manager (Traditional + Alternatives) + Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

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  • Fifth Third Bancorp (FITB)
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  • First Citizens BancShares, Inc. (FCNCA)
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NTRS earnings history · NTRS institutional & insider holders · NTRS KPIs & operating metrics · NTRS financials · NTRS investor presentations & press releases · NTRS SEC filings · NTRS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.