U.S was Northern Trust’s largest region in fiscal 2025, bringing in $22.61B of $32.35B (70%).
| Geography | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2016 | FY 2018 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S | $24.67B | $22.61B | |||||||||
| United States | — | — | |||||||||
| Non-U.S | $8.49B | $9.74B | |||||||||
| Non - U.S | — | — | |||||||||
| Foreign Country | — | — | |||||||||
| Total | $33.16B | $32.35B |
Northern Trust brought in $32.35B from its two regions in fiscal 2025, the year ended December 31, 2025. That was down 2.5% from $33.16B in fiscal 2024. U.S was the largest at $22.61B (69.9%), ahead of Non-U.S at $9.74B (30.1%).
Compared with fiscal 2024, Non-U.S grew 14.7% to $9.74B, while U.S fell 8.4% to $22.61B.
Investment Management & Advisory was Northern Trust’s largest product and service line in fiscal 2023, bringing in $8.93B of $17.60B (51%).
| Product and Service | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|
| Investment Management & Advisory | $8.12B | $8.56B | $9.20B | $8.93B | |
| Custody & Fund Administration | $6.70B | $7.67B | $7.26B | $7.22B | |
| Other | $812.40M | $906.80M | $943.60M | $961.20M | |
| Securities Commission & Trading | — | — | — | — | |
| Securities Lending | $353.20M | $307.60M | $326.40M | $335.60M | |
| Products & Services, Other Operating Income | $171.20M | $215.60M | $148.80M | $155.60M | |
| Total | $16.15B | $17.66B | $17.88B | $17.60B |
Northern Trust brought in $17.60B from its five product and service lines in fiscal 2023, the year ended December 31, 2023. That was down 1.5% from $17.88B in fiscal 2022. Investment Management & Advisory was the largest at $8.93B (50.7%), ahead of Custody & Fund Administration at $7.22B (41.0%) and Other at $961.20M (5.5%). The other two lines brought in $491.20M combined.
Compared with fiscal 2022, Other grew fastest, up 1.9% to $961.20M, while Investment Management & Advisory fell the most, down 2.9% to $8.93B. From fiscal 2020 to 2023, combined revenue from these lines grew from $16.15B to $17.60B, a compound annual growth rate of 2.9%. Investment Management & Advisory's share held steady at about 50.7%.
Asset Servicing was Northern Trust’s largest segment in fiscal 2023, bringing in $9.85B of $17.45B (56%).
| Statement Business Segments | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|---|
| Asset Servicing | $9.29B | $9.95B | $9.99B | $9.85B | ||
| Corporate Institutional Services | — | — | — | — | ||
| Wealth Management | $6.69B | $7.50B | $7.75B | $7.60B | ||
| Total | $15.98B | $17.44B | $17.73B | $17.45B |
Northern Trust brought in $17.45B from its two segments in fiscal 2023, the year ended December 31, 2023. That was down 1.6% from $17.73B in fiscal 2022. Asset Servicing was the largest at $9.85B (56.4%), ahead of Wealth Management at $7.60B (43.6%).
Compared with fiscal 2022, Asset Servicing fell 1.4% to $9.85B and Wealth Management fell 1.9% to $7.60B. From fiscal 2020 to 2023, combined revenue from these segments grew from $15.98B to $17.45B, a compound annual growth rate of 3.0%. Asset Servicing's share of the total fell from 58.1% to 56.4%.
Northern Trust (NTRS) reports its revenue by geography, by product and service and by statement business segments. In fiscal 2025, U.S was its largest region, bringing in $22.61B (69.9% of the total), followed by Non-U.S at $9.74B (30.1%).
U.S was Northern Trust's largest region in fiscal 2025, bringing in $22.61B, or 69.9% of the $32.35B total across its two regions.
Investment Management & Advisory was Northern Trust's largest product and service line in fiscal 2023, bringing in $8.93B, or 50.7% of the $17.60B total across its five product and service lines.
Asset Servicing was Northern Trust's largest segment in fiscal 2023, bringing in $9.85B, or 56.4% of the $17.45B total across its two segments.
Non-U.S grew faster than U.S in fiscal 2025, up 14.7% from $8.49B to $9.74B. U.S fell 8.4% to $22.61B.
Every figure comes from Northern Trust's annual financial filings, as reported. Each line keeps the name Northern Trust gives it, and years follow its fiscal calendar.
Northern Trust's revenue by geography goes back to fiscal 2008, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.