Northern Trust Corp
$138.38B- Market cap
- $34.15B
- Debt
- +$161.70B
- Cash
- −$57.47B
Capital structure 17% equity / 83% debt · EV / Revenue 17.11x · EV / EBITDA 16.16x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: NTRS stock price near parity vs BKH $186.66 current versus $160.81 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at BKH's multiple
Implied fair value · at NTRS's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple premium
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: NTRS FY 2025 (ended Dec 31, 2025) · BKH FY 2025 (ended Dec 31, 2025).
Trendline
Nine fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 17% equity / 83% debt · EV / Revenue 17.11x · EV / EBITDA 16.16x
Capital structure 54% equity / 46% debt · EV / Revenue 4.37x · EV / EBITDA 13.78x
NTRS carries the larger enterprise value at $138.38B against $10.10B; BKH trades on the lower EV / Revenue multiple (4.37x vs 17.11x); BKH on the lower EV / EBITDA (13.78x vs 16.16x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
NORTHERN TRUST CORP · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Black Hills Corporation · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
12.48x
1.23x
Net debt / EBITDA
Leverage against operating earnings
12.17x
6.16x
Cash and equivalents
Liquid reserves on the balance sheet
$57.47B
$182.80M
Total debt
Interest-bearing obligations outstanding
$161.70B
$4.70B
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
JPMorgan Chase & Co.
NTRS vs JPM
Bank of America Corporation
NTRS vs BAC
Wells Fargo & Company
NTRS vs WFC
Citigroup Inc.
NTRS vs C
ALLETE INC
NTRS vs ALE
IDACORP INC
NTRS vs IDA
NISOURCE INC.
NTRS vs NI
PINNACLE WEST CAPITAL CORP
NTRS vs PNW
Duke Energy CORP
NTRS vs DUK
Evergy, Inc.
NTRS vs EVRG
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.