How does Northern Trust (NTRS) make money?

Northern Trust (NTRS) generates revenue primarily from Corporate and Institutional Service, which accounted for 58.9% of total revenue in TTM through Q2 2026. The company reported $15.2B in revenue and converted 14.8% of it into net profit, equivalent to roughly $2.24B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Northern Trust (NTRS)?

Northern Trust (NTRS) reported a gross profit margin of 59.8% in TTM through Q2 2026, equivalent to $9.08B in gross profit on $15.2B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Northern Trust (NTRS)?

Northern Trust (NTRS) reported an operating profit margin of 19.8% in TTM through Q2 2026, equivalent to $3.01B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Northern Trust (NTRS)?

Northern Trust (NTRS) reported a net profit margin of 14.8% in TTM through Q2 2026, equivalent to $2.24B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Northern Trust (NTRS) profitable?

Yes. Northern Trust (NTRS) reported $2.24B in net income for TTM through Q2 2026, with a net profit margin of 14.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Northern Trust (NTRS) spend on capital expenditures?

Northern Trust (NTRS) spent $835M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 5.5% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Northern Trust (NTRS) generate?

Northern Trust (NTRS) generated $1.63B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 10.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Northern Trust (NTRS)?

Northern Trust (NTRS) had an effective tax rate of 25.8% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Northern Trust (NTRS)?

Northern Trust (NTRS) reports revenue across 2 reportable product segments, led by Corporate and Institutional Service at 58.9% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Northern Trust Makes Money: 2026 Visual Revenue Map

Northern Trust (NTRS) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 22, 2026).

Northern Trust discloses geographic revenue only in annual filings. to view the full breakdown.

Northern Trust (NTRS) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Northern Trust (NTRS), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Corporate and Institutional Service	$8.94B	58.9%
Wealth Management	$6.24B	41.1%
Total	$15.2B	100%

Corporate and Institutional Service$8.94B
Wealth Management$6.24B
Total$15.2B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Northern Trust (NTRS) reports revenue across 2 reportable product segments; the largest segment was Corporate and Institutional Service at 58.9%, followed by Wealth Management (41.1%).

Frequently asked questions

Data & methodology

Northern Trust (NTRS) Key Financials

Charts, filings, and peer comparison for every metric

Income Statement

Balance Sheet

Profitability

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees23.8K

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

NTRS Overview

Counters