Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. This ratio does not apply to banks.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. This ratio does not apply to banks.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Northern Trust's Enterprise Value is €-1,519 Mil.
Northern Trust's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 was €7,179 Mil. Therefore, Northern Trust's EV-to-Revenue ratio for today is -0.21.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Northern Trust's Enterprise Value is €-1,519 Mil.
Northern Trust's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €1,427 Mil. Therefore, Northern Trust's EV-to-FCF ratio for today is -1.06.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Northern Trust (FRA:NT4) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
Northern Trust's current Enterprise Value is €-1,519 Mil.
Northern Trust's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €7,179 Mil.
Northern Trust's current Enterprise Value is €-1,519 Mil.
Northern Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,124 Mil.
Northern Trust's current Enterprise Value is €-1,519 Mil.
Northern Trust's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,427 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Northern Trust Enterprise Value Related Terms
Northern Trust Enterprise Value Historical Data
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The historical data trend for Northern Trust's Enterprise Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:NT4 vs RJF, ARES, TROW: Enterprise Value Comparison
For the Asset Management subindustry, Northern Trust's Enterprise Value, along with its competitors' market caps and Enterprise Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Northern Trust Enterprise Value vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Northern Trust's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Northern Trust's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Northern Trust's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Northern Trust (FRA:NT4) has a Enterprise Value of €-1,519 Mil as of Jul. 05, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Northern Trust and its competitors.
Is Northern Trust's Enterprise Value too high?
Northern Trust's current Enterprise Value is €-1,519 Mil. Overall, Northern Trust has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Northern Trust's Enterprise Value compare to RJF and ARES?
Northern Trust's Enterprise Value of €-1,519 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Asset Management company?
A good Enterprise Value depends on the Asset Management industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Northern Trust and its competitors. Northern Trust's current Enterprise Value is €-1,519 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Trust stock overvalued right now?
Based on GuruFocus' analysis, Northern Trust (FRA:NT4) is currently considered Significantly Overvalued. The stock's GF Value™ is €103.42, compared to a current price of €154.45 — trading 49.3% above its estimated fair value. The current Enterprise Value is €-1,519 Mil. Northern Trust's overall GF Score™ is 74/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Northern Trust (FRA:NT4), the current Enterprise Value is €-1,519 Mil as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Northern Trust (FRA:NT4) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Trust stock appears to be overvalued.
The current stock price of €154.45 is trading 49.3% above its estimated GF Value™ of €103.42.
GuruFocus considers Northern Trust to be Significantly Overvalued.
Key valuation signals for FRA:NT4:
Enterprise Value: €-1,519 Mil
GF Value™: €103.42 vs. price of €154.45 (49.3% above fair value)
No single metric tells the full story. See the FRA:NT4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Trust is a leading provider of wealth management, asset servicing, asset management, and banking to corporations, institutions, affluent families, and individuals. Founded in Chicago in 1889, Northern Trust has offices in 20 states and Washington, D.C. as well as 23 locations in Canada, Europe, the Middle East, and Asia-Pacific. As of December 2025, Northern Trust had assets under custody or administration of $18.7 trillion and assets under management of $1.8 trillion.
74GF Score
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