NTRSNORTHERN TRUST CORP
State Commercial Banks
- Revenue
- $5.0B
- 6.1% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $30.6B
- Employees
- 23,800
- $211K revenue each
- Net debt / EBITDA
- —
- −$5.0B net debt
- AI in 10-K
- 3.6
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo319% of net incomeCash flow under 80% of net income
- Dilutive SBCNo3% of revenueOver 10% of revenue
- Payouts exceed cash flowNo34% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$211K · 67th pctBottom quartile of its SIC industry
- Quiet on AINo3.6 per 10K words · 75th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$30.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$18M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $4.4B | $4.4B | $4.4B | $4.7B | $5.0B | 6.1% |
| Net income | $1.5B | $1.3B | $1.1B | $2.0B | $1.7B | 14% |
| Operating cash flow | $1.4B | $2.4B | $2.6B | −$486M | $5.5B | 1239% |
| Capex | $96M | $129M | $117M | $102M | $74M | 27% |
| Stock-based comp | $96M | $125M | $118M | $119M | $127M | 5.9% |
| Buybacks | $268M | $35M | $348M | $938M | $1.3B | 36% |
| Dividends | $583M | $750M | $622M | $602M | $592M | 1.8% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $770K · 5
- Open-market sells, 12 mo
- $19M · 20
- Net
- −$18M
Pay vs performance
No pay-versus-performance disclosure yet.