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AI核心结论
Northern Trust (NTRS) reported a challenging FY2025 with revenue declining 2.5% to $8.09B and net income falling 14.5% to $1.74B, though operating cash flow surged dramatically to $5.53B from negative territory in the prior year.
营收
80.86亿美元
同比 -2.46%
每股收益（稀释）
8.74美元
同比 -10.54%
SEC XBRL 原值
Northern Trust (NTRS) FY2025 营收 80.86亿美元，同比下降 2.5%。 经营活动现金流 55.34亿美元。
近 4 个季度：3 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 2.97 | 2.76 | 超预期 +7.5% |
| 2026年3月 | 2.71 | 2.37 | 超预期 +14.3% |
| 2025年12月本次财报 | 2.69 | 2.41 | 超预期 +11.5% |
| 2025年9月 | 2.29 | 2.29 | 不及预期 -0.0% |
2025年12月 实际 EPS 2.69美元，分析师一致预期 2.41美元，超预期 +11.5%。
由 AI 基于本次 SEC 报告整理
Total revenue fell 2.5% year-over-year to $8.09B in FY2025 from $8.29B in the prior year, suggesting headwinds in fee income or net interest income that pressured the top line across Northern Trust's core custody, wealth management, and banking operations.
来源: 10-K Income Statement
Net income dropped 14.5% to $1.74B from $2.03B in the prior year, with net margin compressing to 21.5%, indicating that expense growth or credit/investment losses outpaced revenue, squeezing profitability meaningfully.
来源: 10-K Income Statement
Operating cash flow surged to $5.53B in FY2025 compared to negative $486M in the prior year — a swing of over $6B — suggesting significant improvements in working capital management or non-cash adjustments that bolstered cash generation despite lower reported earnings.
来源: 10-K Cash Flow Statement
Total assets grew 13.9% to $177.1B while total liabilities rose 15.0% to $164.2B, resulting in a debt-to-equity ratio of approximately 12.7x, which is characteristic of large custodial banking institutions but warrants monitoring given the faster growth in liabilities relative to equity.
来源: 10-K Balance Sheet
Northern Trust increased share buybacks by 35.8% to $1.27B in FY2025 from $937.8M in the prior year, demonstrating management's continued commitment to returning capital even amid declining earnings, though this also contributed to financing cash inflows of $15.18B.
来源: 10-K Cash Flow Statement
由 AI 基于本次 SEC 报告整理 · 高 2 中 3 低 0
Net income declined 14.5% to $1.74B while revenue fell 2.5% to $8.09B, indicating that cost growth or loss provisions are outpacing revenue. If this trend continues, Northern Trust's profitability metrics such as ROE (13.4%) and ROA (0.98%) could deteriorate further, pressuring shareholder returns.
来源: 10-K Income Statement
Total assets expanded by $21.6B (13.9%) to $177.1B, largely funded by a $21.5B increase in liabilities, pushing the debt-to-equity ratio to 12.7x. This elevated leverage is typical for custodial banks but exposes Northern Trust to interest rate, liquidity, and credit risks if asset quality deteriorates.
来源: 10-K Balance Sheet
Investing cash flow was negative $20.17B in FY2025, a dramatic increase from negative $2.56B in the prior year, suggesting Northern Trust made substantial investment securities purchases or other capital deployments. The return profile and risk of these investments will be critical to future earnings.
来源: 10-K Cash Flow Statement
Basic EPS fell 10.4% to $8.78 and diluted EPS dropped 10.5% to $8.74, reflecting both lower net income and the impact of share buybacks. Sustained EPS declines could weigh on market valuation and raise questions about the sustainability of the current dividend and buyback program.
来源: 10-K Income Statement
Stockholders' equity grew only 1.3% to $12.96B while total assets grew 13.9%, meaning the equity cushion is thinning relative to the overall balance sheet. This dynamic reduces the buffer available to absorb unexpected losses and may attract regulatory scrutiny around capital adequacy.
来源: 10-K Balance Sheet
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 80.86 亿美元 | 82.90 亿美元 | -2.46% |
净利润 亿美元 | 17.37 亿美元 | 20.31 亿美元 | -14.48% |
每股收益（基本） 美元 | 8.78 美元 | 9.80 美元 | -10.41% |
每股收益（稀释） 美元 | 8.74 美元 | 9.77 美元 | -10.54% |
答案基于本次 SEC 报告与本页数据