NTRS Northern Trust

capital_markets · 2026-10-16

N/A

fair · 64

Owner-earnings value$97.90

Price$165.44

Margin of safety -40.8%

Quality gate · 64/100

Returns on capital 17.3/30

Consistency 18.7/22

Margins / pricing power 4/16

Balance sheet 13.5/16

Cash conversion 5.0/10

Capital allocation 5.9/6

Median ROE12.6%

FCF conversion115%

Share count / yr-3.7%

Profitable years4/4

Moat & management

Owner-earnings inputs

Owner earnings (TTM)	2.24B
Owner-earnings yield	7.4%
Free-cash-flow yield	-0.7%
Growth used (normalized)	6.1%
Terminal growth	3.0%
Discount rate (hurdle)	10.7%

⚠ financial — owner earnings ≈ net income · financial — valued by residual income (ROE vs cost of equity on book equity)

Date	Quality	Price	Value	MoS	Rating
2026-10-16	64	$165.44	$97.90	-40.8%	N/A
2026-09-09	64	$184.88	$99.46	-46.2%	N/A
2026-08-03	64	$182.19	$99.75	-45.3%	N/A
2026-07-02	64	$175.60	$98.33	-44.0%	N/A
2026-06-25	68	$173.93	$98.78	-43.2%	N/A
2026-06-23	68	$176.26	$98.22	-44.3%	N/A

Date

Quality

Price

Value

MoS

Rating

2026-10-16

$165.44

$97.90

-40.8%

N/A

2026-09-09

$184.88

$99.46

-46.2%

N/A

2026-08-03

$182.19

$99.75

-45.3%

N/A

2026-07-02

$175.60

$98.33

-44.0%

N/A

2026-06-25

$173.93

$98.78

-43.2%

N/A

2026-06-23

$176.26

$98.22

-44.3%

N/A

Quality gate · 64/100

Moat & management

Owner-earnings inputs

History