Short answer
Northern Trust (NTRS) filed its fiscal 2024 10-K annual report with the SEC on Feb 24, 2025. It reported revenue of $4.7B (+8.4% year over year) and net income of $2.0B.
- Top risk flagged: Regulatory risk: Conflicting U.S. and European ESG-related requirements impacting reputation and compliance amid increased regulatory focus
FY2024 key financial metrics · XBRL
- Revenue
- $4.7B
- +8.4% YoY
- Net income
- $2.0B
- +83.4% YoY
- EPS (diluted)
- $9.77
- +92.3% YoY
- ROE
- 15.9%
- +6.6 pp YoY
- Operating cash flow
- −$486M
- −118.5% YoY
Source: XBRL data from the Northern Trust (NTRS) FY2024 10-K on SEC EDGAR. USD.
Northern Trust FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Financial services including wealth management, asset servicing, and banking solutions
- No new products, services, or business segments introduced or emphasized in 2024 filing
- No disclosed strategic shifts or changes in competitive positioning versus prior year
- No quantitative business metrics reported within the business section text provided
- Filing primarily comprised of references to prior disclosures; no standalone business narrative in 2024 form
Management Discussion & Analysis
- Revenue $8.3B, up 22% YoY from $6.8B, driven by Noninterest Income +28% to $6.1B and Net Interest Income +10% to $2.2B
- Operating margin proxy: Income before taxes $2.66B vs $1.46B, net income $2.03B vs $1.11B, return on average common equity 17.4% vs 10.0%
- Best segment: Asset Servicing Trust and Fees $2.63B up 7%, Wealth Management fees $2.10B up 10%, Asset Servicing AUC +12% to $12.2T, AUM +12% to $1.16T
- Worst performing: Securities Lending fees down 13% to $72.3M, Wealth Management East region assets under custody down 7%, AUM -12%
- Cash flow & capital: Dividends steady at $3.00/share, no buyback specifics disclosed; typical capex data not detailed in excerpt
- Outlook/risk: Management highlights favorable markets and net asset inflows driving fee growth; noted risks include litigation escrow funding and investment impairments
Risk Factors
- Regulatory risk: Conflicting U.S. and European ESG-related requirements impacting reputation and compliance amid increased regulatory focus
- Geopolitical/macroeconomic risk: Climate change physical and transition risks disrupting operations and client asset values globally
- Operational risk: Generative AI risks including reputational, legal, and cybersecurity issues from inaccurate outputs and data use
- Competitive risk: FinTech disruption from competitors adopting AI, blockchain, and emerging technologies faster
- Financial risk: Dividend payouts limited by Federal Reserve capital rules and dependence on Bank dividends for common stock payments
Generated from the filing text; verify against the original. How to read a 10-K
Other Northern Trust annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.