Northern Trust Corporation

NTRSNASDAQFinancial Services● Active

$169.78

$-0.69(-0.40%)

Market Cap$31.4B

P/E Ratio—

52W High$173.19

52W Low$105.43

Avg Volume1.1M

Open$171.17

Beta1.27

Overview

Northern Trust Corporation (NTRS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NTRS · free cash flow · updated Jun 8, 2026

Core FCF metrics

NTRS · FCF · TTM · margin & CAGR

Free cash flow was $5.46B for FY2025 (fiscal year ending 2025-12-31), up 543.3% year-over-year The FCF margin was 38.2%. Five-year CAGR stands at +32.5%.

FY2025 Free Cash Flow$5.46B▲ +543.3% YoY

Trailing 12M (TTM)$1.84Btrailing 4 quarters sum

FCF Margin38.2%$5.46B ÷ revenue

3-Year CAGR+48.5%FY2022 → FY2025

5-Year CAGR+32.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NTRS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$5.53B(74M)$5.46B▲ +543.3%38.2%

FY2024−$486.0M(746M)−$1.23B▼ 163.2%-7.8%

FY2023$2.63B(676M)$1.95B▲ +16.8%16.1%

FY2022$2.39B(724M)$1.67B▲ +98.5%21.5%

FY2021$1.36B(515M)$840.9M▼ 37.1%13.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NTRS · P/FCF · FCF yield · FCF per share

Northern Trust Corporation (NTRS) trades at a FCF yield of 5.85% and a price-to-free-cash-flow ratio of 17.3x. FCF per share stands at $9.80, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.85%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$9.80

TTM FCF ÷ Shares Outstanding

Price / FCF

x17.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x-0.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

NTRS · cash flow statement · operating / investing / financing

For FY2025, Northern Trust Corporation generated $5.53B in operating cash flow and spent 74M in capital expenditures, yielding $5.46B in free cash flow.

Operating Activities

+$5.53B

Cash from core business operations

2025-12-31

Investing Activities

−$20.17B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$15.18B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($5.53B) − |CapEx| (74M) = FCF ($5.46B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

NTRS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Northern Trust CorporationYOU

NTRS

$5.46B+543.3%38.2%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Northern Trust Corporation (NTRS) reported free cash flow of $5.46B for FY2025 (fiscal year ending 2025-12-31), up 543.3% year-over-year. The FCF margin was 38.2%.

Based on available data, Northern Trust Corporation has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $5.46B in FY2025. The 5-year CAGR stands at +32.5%.

Northern Trust Corporation's FCF yield is 5.85% and price-to-FCF ratio is 17.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NTRS free cash flow · 8 questions

Northern Trust Corporation free cash flow was $5.46B for FY2025, up 543.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.84B.

NTRS free cash flowNTRS FCFNTRS FCF 2025NTRS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Northern Trust Corporation · Northern Trust Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026