Northern Trust (NTRS) EV to EBITDA (2015 - 2026)
Northern Trust's (NTRS) EV to EBITDA stood at 3.20 in Q2 2026, up 30.6% from 2.45 a year earlier and up 18.0% from the prior quarter.
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Analysis
Northern Trust (NTRS) EV to EBITDA (2015 - 2026) Analysis & Trends
For FY2025, Northern Trust's EV to EBITDA came in at 2.73, up 48.8% from FY2024.
- Across earlier years, EV to EBITDA came in at 1.83 in FY2024 (-21.2%), 2.33 in FY2023 (-58.0%), 5.54 in FY2022 (-43.1%) and 9.75 in FY2021 (+17.0%).
- The Q2 2026 figure is the highest quarterly EV to EBITDA since Q1 2023.
- On a year-over-year basis, EV to EBITDA has increased for five consecutive quarters, with growth averaging 20.9% over the last eight quarters.
- Peak year-over-year performance for EV to EBITDA in the last five years was growth of 57.5% in Q3 2025, against a decline of 62.3% in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 2.71 (Q1 2026), 2.73 (Q4 2025) and 2.68 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Cme | 108.95 Bn | 97.29 Bn | - |
| 2 | Bank of New York Mellon | 102.82 Bn | 36.44 Bn | - |
| 3 | Intercontinental Exchange | 98.21 Bn | 91.10 Bn | - |
| 4 | Robinhood Markets | 74.92 Bn | 54.46 Bn | - |
| 5 | Nasdaq | 60.69 Bn | 58.13 Bn | 1.48 Bn |
| 6 | State Street | 46.98 Bn | 46.98 Bn | - |
| 7 | Cboe Global Markets | 36.89 Bn | 27.37 Bn | 712.20 Mn |
| 8 | Interactive Brokers | 35.15 Bn | 11.46 Bn | - |
| 9 | Northern Trust | 32.35 Bn | 32.35 Bn | - |
| 10 | Tradeweb Markets | 27.24 Bn | 19.05 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 3.08 |
| Jun 30, 2026 | 3.20 |
| Mar 31, 2026 | 2.71 |
| Dec 31, 2025 | 2.73 |
| Sep 30, 2025 | 2.68 |
| Jun 30, 2025 | 2.45 |
| Mar 31, 2025 | 1.77 |
| Dec 31, 2024 | 1.83 |
| Sep 30, 2024 | 1.70 |
| Jun 30, 2024 | 1.72 |
| Mar 31, 2024 | 2.19 |
| Dec 31, 2023 | 2.33 |
| Sep 30, 2023 | 2.25 |
| Jun 30, 2023 | 2.91 |
| Mar 31, 2023 | 4.38 |
| Dec 31, 2022 | 5.54 |
| Sep 30, 2022 | 5.98 |
| Jun 30, 2022 | 7.50 |
| Mar 31, 2022 | 9.47 |
| Dec 31, 2021 | 9.75 |
API Access
Northern Trust EV to EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=NTRS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "ticker": "NTRS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=NTRS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();