Northern Trust vs State Street
State Street reported revenue of $13.9 billion in fiscal 2025, 1.7 times Northern Trust's $8.1 billion in fiscal 2025. Northern Trust's revenue fell 2.5% in its latest year, and State Street's grew 7.3%. Northern Trust had a return on equity of 13.5%, against 11.1% at State Street.
Side by side
| Northern Trust | State Street | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $8.1B | $13.9B |
| Revenue growth | −2.5% | 7.3% |
| Revenue growth a year, last 5 years | 5.8% | 3.6% |
| Net income | $1.7B | $2.9B |
| Return on equity | 13.5% | 11.1% |
| Return on tangible common equity | 13.9% | 14.6% |
| Efficiency ratio | 71.2% | 72.8% |
| Dividends and buybacks | $1.9B | $2.3B |
| Change in diluted share count | −4.8% | −4.4% |
| Last close | $169.55 | $169.94 |
| P/E at the last close | 19.4× | 15.0× |
| Insider trades, last 12 months | bought $803,809, sold $15.4 million | bought $312,475, sold $23.5 million |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Northern TrustState Street
Return on equity
Percent. Net income over average equity.
Northern TrustState Street
Net income
US$ billions
Northern TrustState Street
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Northern Trust and State Street pages.