Question 1

What is Northern Trust's EV/EBITDA ratio?

Accepted Answer

Northern Trust (NTRS) EV/EBITDA ratio is -3.7× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Northern Trust?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes.

Question 5

Is Northern Trust's EV/EBITDA ratio high or low?

Accepted Answer

Northern Trust's EV/EBITDA ratio of -3.7× is above its own 5-year average of -11.4×. That places the current reading at the 100th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Northern Trust's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Northern Trust (NTRS) EV/EBITDA ratio has ranged from a low of -36.3× in 2020 to a high of 21.2× in 2002. The 5-year average is -11.4× and the 5-year median is -9.7×.

Question 7

What was Northern Trust's EV/EBITDA ratio in 2025?

Accepted Answer

Northern Trust (NTRS) EV/EBITDA ratio at the end of 2025 was -6.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Northern Trust's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$25.61B	$3.21B	-6.8×	-0.7×	Dec 31, 2025
2024	$20.22B	$3.38B	-6.0×	+8.0×	Dec 31, 2024
2023	$17.40B	$2.10B	-14.1×	+3.2×	Dec 31, 2023
2022	$18.44B	$2.32B	-17.3×	+12.2×	Dec 31, 2022
2021	$24.84B	$2.53B	-29.4×	+6.9×	Dec 31, 2021
2020	$19.39B	$2.13B	-36.3×	-16.4×	Dec 31, 2020
2019	$22.38B	$2.40B	-19.9×	-2.0×	Dec 31, 2019
2018	$18.42B	$2.42B	-17.9×	-4.5×	Dec 31, 2018
2017	$22.65B	$2.06B	-13.4×	-3.2×	Dec 31, 2017
2016	$20.27B	$1.89B	-10.1×	+2.8×	Dec 31, 2016
2015	$16.61B	$1.82B	-12.9×	+1.3×	Dec 31, 2015
2014	$15.80B	$1.53B	-14.2×	+2.9×	Dec 31, 2014
2013	$14.74B	$1.39B	-17.1×	-0.2×	Dec 31, 2013
2012	$12.01B	$1.28B	-16.9×	+5.8×	Dec 31, 2012
2011	$9.56B	$1.15B	-22.8×	-2.3×	Dec 31, 2011
2010	$13.42B	$1.24B	-20.4×	-8.0×	Dec 31, 2010
2009	$12.66B	$1.50B	-12.5×	+2.4×	Dec 31, 2009
2008	$11.62B	$1.50B	-14.8×	-10.9×	Dec 31, 2008
2007	$16.87B	$1.27B	-3.9×	-0.1×	Dec 31, 2007
2006	$13.23B	$1.22B	-3.9×	+1.1×	Dec 31, 2006
2005	$11.28B	$803.60M	-5.0×	-10.6×	Dec 31, 2005
2004	$10.61B	$930.90M	5.7×	-6.0×	Dec 31, 2004
2003	$10.18B	$817.40M	11.7×	+4.4×	Dec 31, 2003
2002	$7.71B	$726.70M	7.3×	-11.8×	Dec 31, 2002
2001	$13.30B	$755.70M	19.1×	—	Dec 31, 2001

EV/EBITDA for Northern Trust (NTRS)

EV/EBITDA daily chart for Northern Trust (NTRS)

Historical EV/EBITDA for Northern Trust (NTRS) from 2001 to 2025

About EV/EBITDA at Northern Trust (NTRS)

Northern Trust EV/EBITDA by Year

Northern Trust EV/EBITDA 2025: -6.8×

Northern Trust EV/EBITDA 2024: -6.0×

Northern Trust EV/EBITDA 2023: -14.1×

Northern Trust EV/EBITDA 2022: -17.3×

Northern Trust EV/EBITDA 2021: -29.4×

Frequently asked questions

Northern Trust (NTRS) Key Financials

EV/EBITDA daily chart for Northern Trust (NTRS)

Historical EV/EBITDA for Northern Trust (NTRS) from 2001 to 2025

About EV/EBITDA at Northern Trust (NTRS)

Northern Trust EV/EBITDA by Year

Northern Trust EV/EBITDA 2025: -6.8×

Northern Trust EV/EBITDA 2024: -6.0×

Northern Trust EV/EBITDA 2023: -14.1×

Northern Trust EV/EBITDA 2022: -17.3×

Northern Trust EV/EBITDA 2021: -29.4×

Frequently asked questions

+What is Northern Trust's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Northern Trust?

+Is Northern Trust's EV/EBITDA ratio high or low?

+What is Northern Trust's historical EV/EBITDA ratio range?

+What was Northern Trust's EV/EBITDA ratio in 2025?

+Why does Northern Trust's EV/EBITDA ratio change over time?

Northern Trust (NTRS) Key Financials