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Northern Trust NTRS Asset Servicing Segment — Allocated Expense

Other segment segments

Wealth Management Segment
$350.9M+13.7%

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ONITServicing — Corporate Overhead Allocations
$14.7M+18.5%
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ONITCorporate Segment and Other Operating Segment — Servicing Asset at Amortized Cost, Amortization
$0

Other financials

Income statement

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Revenue$2.2B+13.7%
Net income$525.5M+34.1%
EPS (diluted)$2.71+42.6%

Balance sheet

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Cash & equivalents$6.4B-2.2%
Total debt$624.4M-3.8%
Total equity$13.0B+0.8%
Total assets$174.57B+5.8%

Cash flow

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Operating cash flow-$320.0M-112%
CapEx$9.4M-24.2%
Free cash flow-$329.4M-112%

Valuation

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Market cap$32.17B+33.6%
P/E17.2×+3.3×
P/S3.9×-1.4×

Profitability

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Net margin22.8%-3.9pp
FCF margin65.1%-24.5pp

Returns & leverage

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Return on equity14.5%-3.2pp
Debt / equity0.0×

Where this comes from

Reported directly by Northern Trust in its filing.

Tagged under the XBRL concept ntrs:SegmentReportingAllocatedExpenseAmount.

The official record: Northern Trust’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northern Trust's asset servicing segment — allocated expense?
Northern Trust (NTRS) reported asset servicing segment — allocated expense of $788M in Q1 2026.
How has Northern Trust's asset servicing segment — allocated expense changed year-over-year?
Northern Trust's asset servicing segment — allocated expense increased by 10.9% year-over-year, from $710.3M to $788M.
What is the long-term trend for Northern Trust's asset servicing segment — allocated expense?
Over 3 years (2022 to 2025), Northern Trust's asset servicing segment — allocated expense has grown at a 31.4% compound annual growth rate (CAGR), from $1.34B to $3.05B.
What does asset servicing segment — allocated expense mean?
Reflects the portion of corporate overhead and shared service costs assigned to the Asset Servicing segment. This allocation ensures that the segment accounts for its share of centralized functions like technology, human resources, and facilities. It is a critical component in determining the true profitability of the business unit.