• Northern Trust average price to free cash flow ratio for 2023 was 7.08, a 76.98% decline from 2022.
• Northern Trust average price to free cash flow ratio for 2022 was 30.75, a 43.13% decline from 2021.
• Northern Trust average price to free cash flow ratio for 2021 was 54.07, a 810.27% decline from 2020.

Price to free cash flow ratio can be defined as