The company has reduced its share count over this period, returning value to shareholders through buybacks.
Diluted shares outstanding: 208.9M (2021) → 188.6M (2025)
Northern Trust Corporation operates as a diversified financial holding company, offering an extensive suite of wealth management, asset servicing, asset management, and banking solutions to a broad global clientele that includes corporations, institutions, families, and individuals. The company's operations are divided into two main segments: Corporate & Institutional Services (C&IS) and Wealth Management. The C&IS segment specializes in comprehensive asset servicing and related provisions. These encompass custody, fund administration, outsourcing for investment operations, investment management, investment risk and analytical services, employee benefit programs, securities lending, foreign exchange, treasury management, brokerage, transition management, banking, and cash management. This segment primarily serves a diverse array of institutional investors, such as corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, and sovereign wealth funds. The Wealth Management segment caters to affluent clients, delivering services like trust administration, investment management, asset custody, philanthropic guidance, financial consulting, guardianship and estate planning, family business advisory, financial education for families, brokerage services, and private and business banking. Its client base includes high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately held companies. Beyond these, Northern Trust provides a wide array of asset management capabilities, covering both active and passive equity and fixed income strategies, cash management, and alternative asset classes, specifically private equity and hedge funds of funds. These services are delivered through various structures, including separately managed accounts, bank common and collective funds, registered investment companies, exchange-traded funds, non-U.S. collective investment funds, and unregistered private investment funds, along with multi-manager advisory services and products. The company also offers overlay and other sophisticated risk management solutions. Northern Trust Corporation was established in 1889 and is headquartered in Chicago, Illinois.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+17.0% YoY
YoY Growth Rate
Steady revenue growth
+98.6% YoY
YoY Growth Rate
EPS growth accelerating
$0/ year
0.0% of revenue
Below sector average (7%)
Research and development spending
5+ years
Quarterly Free Cash Flow
↓ Burn rate worsening
$163.6B cash & investments at current burn rate
Northern Trust Corporation is growing revenue at 17% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.
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Earnings growing 25%+ a year. The compounder zone.
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Free cash flow is negative. They are burning cash, not generating it.
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Interest coverage below 1. Their profits don't cover the interest bill.
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P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.
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Yield above 6% — often a flag the market is pricing in a cut.
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