Northern Trust (NTRS) Tax Rate (2009 - 2026)
Northern Trust (NTRS) reported Tax Rate of 25.59% for Q2 2026, up 0.19 percentage points from 25.41% a year earlier and up 0.60 percentage points from the prior quarter.
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Analysis
Northern Trust (NTRS) Tax Rate (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Northern Trust's Tax Rate came in at 25.75%, up 1.74 percentage points year-over-year; for FY2025, it was 25.76%, up 2.13 percentage points from FY2024.
- Tax Rate has a five-year change of +0.06 percentage points (FY2020 to FY2025).
- By year, Tax Rate came in at 23.63% in FY2024 (-0.78 pp), 24.41% in FY2023 (+0.04 pp), 24.36% in FY2022 (+1.24 pp) and 23.12% in FY2021 (-2.58 pp).
- Five-year quarterly Tax Rate spans a low of 18.22% in Q4 2022 and a high of 26.71% in Q2 2022.
- Year over year, Tax Rate has now increased in each of the last five quarters, with an average year-over-year change of +0.81 percentage points over the last eight quarters.
- The high point for year-over-year Tax Rate in five years was Q4 2023 (a gain of 4.20 percentage points); the low point was Q4 2021 (a drop of 15.23 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 24.99% (Q1 2026), 26.48% (Q4 2025) and 26.13% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.27 Bn | 97.61 Bn | - | 23.46% |
| 2 | Bank of New York Mellon | 98.55 Bn | 37.92 Bn | - | 20.95% |
| 3 | Intercontinental Exchange | 91.26 Bn | 85.07 Bn | - | 24.24% |
| 4 | Robinhood Markets | 85.47 Bn | 66.56 Bn | - | 19.18% |
| 5 | Nasdaq | 57.27 Bn | 54.71 Bn | 1.48 Bn | 23.11% |
| 6 | State Street | 46.11 Bn | 46.11 Bn | - | 21.96% |
| 7 | Interactive Brokers | 36.17 Bn | 29.63 Bn | - | 8.10% |
| 8 | Cboe Global Markets | 35.59 Bn | 27.25 Bn | 731.60 Mn | 28.62% |
| 9 | Northern Trust | 30.73 Bn | 30.73 Bn | - | 25.59% |
| 10 | Tradeweb Markets | 28.70 Bn | 21.41 Bn | - | 23.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 25.59% |
| Mar 31, 2026 | 24.99% |
| Dec 31, 2025 | 26.48% |
| Sep 30, 2025 | 26.13% |
| Jun 30, 2025 | 25.41% |
| Mar 31, 2025 | 24.82% |
| Dec 31, 2024 | 23.36% |
| Sep 30, 2024 | 22.66% |
| Jun 30, 2024 | 23.65% |
| Mar 31, 2024 | 26.12% |
| Dec 31, 2023 | 22.43% |
| Sep 30, 2023 | 24.52% |
| Jun 30, 2023 | 24.71% |
| Mar 31, 2023 | 24.64% |
| Dec 31, 2022 | 18.22% |
| Sep 30, 2022 | 24.73% |
| Jun 30, 2022 | 26.71% |
| Mar 31, 2022 | 23.79% |
| Dec 31, 2021 | 20.25% |
| Sep 30, 2021 | 23.62% |
API Access
Northern Trust Tax Rate 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=tax-rate&ticker=NTRS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=NTRS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();