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Northrop Grumman Corporation(NOC)Earnings, Financials & Key Ratios
NOC•NYSE
$558.72
$79.36B mkt cap·19.2× P/E·Price updated May 6, 2026
AboutNorthrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems. Its Defense Systems segment designs, develops, and produces weapons and mission systems. It offers products and services, such as integrated battle management systems, weapons systems and aircraft, and mission systems. This segment also provides command and control and weapons systems, including munitions and missiles; precision strike weapons; propulsion, such as air-breathing and hypersonic systems; gun systems and precision munitions; life cycle service and support for software, weapons systems, and aircraft; and logistics support, sustainment, operation, and modernization for air, sea, and ground systems. The company's Mission Systems segment offers cyber, command, control, communications and computers, intelligence, surveillance, and reconnaissance systems; radar, electro-optical/infrared and acoustic sensors; electronic warfare systems; advanced communications and network systems; cyber solutions; intelligence processing systems; navigation; and maritime power, propulsion, and payload launch systems. This segment also provides airborne multifunction sensors; maritime/land systems and sensors; navigation, targeting, and survivability solutions; and networked information solutions. Its Space Systems segment offers satellites and payloads; ground systems; missile defense systems and interceptors; launch vehicles and related propulsion systems; and strategic missiles. The company was founded in 1939 and is based in Falls Church, Virginia.Show more
- Revenue$41.95B+2.2%
- EBITDA$5.75B+0.2%
- Net Income$4.18B+0.2%
- EPS (Diluted)29.08+2.6%
- Gross Margin19.81%-2.8%
- EBITDA Margin13.71%-2.0%
- Operating Margin10.2%-4.2%
- Net Margin9.97%-2.0%
- ROE26.17%-5.7%
- ROIC10.17%-5.8%
- Debt/Equity1.18-10.4%
- Interest Coverage8.62-2.1%
NOC Key Insights
Northrop Grumman Corporation (NOC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 22.5%
- ✓22 consecutive years of dividend growth
- ✓Share count reduced 2.4% through buybacks
- ✓Healthy 5Y average net margin of 11.7%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NOC Price & Volume
Northrop Grumman Corporation (NOC) stock price & volume — 10-year historical chart
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NOC Growth Metrics
Northrop Grumman Corporation (NOC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.96%
5 Years2.66%
3 Years4.65%
TTM4.95%
Profit CAGR
10 Years7.71%
5 Years5.57%
3 Years-5.12%
TTM23.31%
EPS CAGR
10 Years10.84%
5 Years8.85%
3 Years-2.6%
TTM26.09%
Return on Capital
10 Years12.81%
5 Years11.91%
3 Years10.63%
Last Year11.77%
NOC Recent Earnings
Northrop Grumman Corporation (NOC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 21, 2026EPS
$6.14
Est $6.06
+1.3%
Revenue
$9.9B
Est $9.8B
+1.3%
Q1 2026
Jan 27, 2026EPS
$7.23
Est $6.98
+3.6%
Revenue
$11.7B
Est $11.6B
+0.8%
Q4 2025
Oct 21, 2025EPS
$7.67
Est $6.44
+19.1%
Revenue
$10.4B
Est $10.7B
-2.7%
Q3 2025
Jul 22, 2025EPS
$7.11
Est $6.92
+2.7%
Revenue
$10.4B
Est $10.1B
+2.9%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $6.14vs $6.06+1.3% | $9.9Bvs $9.8B+1.3% |
| Q1 2026 | Jan 27, 2026 | $7.23vs $6.98+3.6% | $11.7Bvs $11.6B+0.8% |
| Q4 2025 | Oct 21, 2025 | $7.67vs $6.44+19.1% | $10.4Bvs $10.7B-2.7% |
| Q3 2025 | Jul 22, 2025 | $7.11vs $6.92+2.7% | $10.4Bvs $10.1B+2.9% |
Based on last 12 quarters of dataView full earnings history →
NOC Peer Comparison
Northrop Grumman Corporation (NOC) competitors in Defense Prime Contractors — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LMT | 118.52B | 514.26 | 23.93 | 5.65% | 6.38% | 74.53% | 3.23 | |
 RTX | 238.01B | 176.74 | 35.63 | 9.74% | 8.03% | 10.92% | 0.59 | |
 GD | 93.91B | 347.27 | 22.46 | 10.13% | 8.07% | 17.41% | 0.38 | |
 BA | 181.25B | 229.93 | 92.71 | 34.49% | 2.46% | 289.7% | 9.97 | |
 HII | 12.58B | 319.54 | 20.76 | 8.23% | 4.71% | 12.05% | 0.62 | |
 LHX | 56.45B | 302.20 | 35.43 | 2.53% | 7.71% | 8.87% | 0.53 | |
 BAH | 12.91B | 76.28 | 10.52 | 12.36% | 7.33% | 81.63% | 4.21 | |
 SAIC | 4.25B | 94.36 | 12.25 | -2.9% | 4.93% | 23.73% | 0.14 |
Compare NOC vs Peers
Northrop Grumman Corporation (NOC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NOC Income Statement
Northrop Grumman Corporation (NOC) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 25.8B | 30.09B | 33.84B | 36.8B | 35.67B | 36.6B | 39.29B | 41.03B | 41.95B | 42.37B |
| Revenue Growth % | 5.28% | 16.63% | 12.45% | 8.74% | -3.08% | 2.62% | 7.34% | 4.44% | 2.24% | 4.95% |
| Cost of Goods Sold | 19.85B | 23.3B | 26.58B | 29.32B | 28.4B | 29.13B | 32.74B | 32.67B | 33.64B | 33.67B |
| COGS % of Revenue | 76.93% | 77.43% | 78.55% | 79.68% | 79.62% | 79.58% | 83.33% | 79.62% | 80.19% | - |
| Gross Profit | 5.95B▲ 0% | 6.79B▲ 14.1% | 7.26B▲ 6.9% | 7.48B▲ 3.0% | 7.27B▼ 2.8% | 7.47B▲ 2.8% | 6.55B▼ 12.3% | 8.36B▲ 27.6% | 8.31B▼ 0.6% | 8.69B▲ 0% |
| Gross Margin % | 23.07% | 22.57% | 21.45% | 20.32% | 20.38% | 20.42% | 16.67% | 20.38% | 19.81% | 20.52% |
| Gross Profit Growth % | 3.06% | 14.06% | 6.89% | 3.02% | -2.81% | 2.83% | -12.35% | 27.64% | -0.59% | - |
| Operating Expenses | 2.71B | 3.04B | 3.29B | 3.41B | 1.62B | 3.87B | 4.01B | 3.99B | 4.03B | 4B |
| OpEx % of Revenue | 10.51% | 10.1% | 9.72% | 9.27% | 4.53% | 10.58% | 10.22% | 9.73% | 9.61% | - |
| Selling, General & Admin | 1.48B | 2.62B | 4.29B | 3.25B | 227M | 1.14B | 3.91B | 2.89B | 4.03B | 4B |
| SG&A % of Revenue | 5.72% | 8.7% | 12.68% | 8.83% | 0.64% | 3.1% | 9.94% | 7.05% | 9.61% | - |
| Research & Development | 639M | 764M | 953M | 0 | 1.1B | 1.2B | 1.2B | 1.1B | 1.1B | 0 |
| R&D % of Revenue | 2.48% | 2.54% | 2.82% | - | 3.08% | 3.28% | 3.05% | 2.68% | 2.62% | - |
| Other Operating Expenses | 596M | -341M | -1.95B | 164M | 290M | 1.54B | -1.09B | -1M | -1.1B | 0 |
| Operating Income | 3.3B▲ 0% | 3.78B▲ 14.6% | 3.97B▲ 5.0% | 4.07B▲ 2.4% | 5.65B▲ 39.0% | 3.6B▼ 36.3% | 2.54B▼ 29.5% | 4.37B▲ 72.3% | 4.28B▼ 2.1% | 4.7B▲ 0% |
| Operating Margin % | 12.79% | 12.56% | 11.73% | 11.05% | 15.84% | 9.84% | 6.46% | 10.65% | 10.2% | 11.08% |
| Operating Income Growth % | 3.32% | 14.58% | 5% | 2.42% | 39.02% | -36.28% | -29.55% | 72.25% | -2.06% | - |
| EBITDA | 3.77B | 4.58B | 5.23B | 5.33B | 6.89B | 4.94B | 3.88B | 5.74B | 5.75B | 6.2B |
| EBITDA Margin % | 14.63% | 15.22% | 15.47% | 14.49% | 19.32% | 13.5% | 9.86% | 13.99% | 13.71% | 14.64% |
| EBITDA Growth % | 3.43% | 21.36% | 14.28% | 1.87% | 29.22% | -28.26% | -21.61% | 48.13% | 0.21% | 17.48% |
| D&A (Non-Cash Add-back) | 475M | 800M | 1.26B | 1.27B | 1.24B | 1.34B | 1.34B | 1.37B | 1.47B | 1.51B |
| EBIT | 4.45B | 4.3B | 2.97B | 4.32B | 7.5B | 6.34B | 2.89B | 5.47B | 5.73B | 5.99B |
| Net Interest Income | -360M | -562M | -528M | -593M | -556M | -506M | -545M | -621M | -665M | -671M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 360M | 562M | 528M | 593M | 556M | 506M | 545M | 621M | 665M | 671M |
| Other Income/Expense | 1.01B | -38M | -1.42B | -337M | 3.29B | 2.23B | -191M | 646M | 788M | 824M |
| Pretax Income | 3.05B▲ 0% | 3.74B▲ 22.7% | 2.55B▼ 31.9% | 3.73B▲ 46.3% | 8.94B▲ 139.8% | 5.84B▼ 34.7% | 2.35B▼ 59.8% | 5.02B▲ 113.8% | 5.07B▲ 1.0% | 5.52B▲ 0% |
| Pretax Margin % | 11.82% | 12.43% | 7.53% | 10.13% | 25.06% | 15.94% | 5.97% | 12.22% | 12.08% | 13.03% |
| Income Tax | 1.03B | 513M | 300M | 539M | 1.93B | 940M | 290M | 842M | 886M | 944M |
| Effective Tax Rate % | 33.91% | 13.71% | 11.77% | 14.46% | 21.63% | 16.11% | 12.36% | 16.79% | 17.48% | 17.1% |
| Net Income | 2.02B▲ 0% | 3.23B▲ 60.2% | 2.25B▼ 30.4% | 3.19B▲ 41.9% | 7B▲ 119.7% | 4.9B▼ 30.1% | 2.06B▼ 58.0% | 4.17B▲ 103.0% | 4.18B▲ 0.2% | 4.58B▲ 0% |
| Net Margin % | 7.81% | 10.73% | 6.64% | 8.67% | 19.64% | 13.38% | 5.23% | 10.17% | 9.97% | 10.8% |
| Net Income Growth % | -8.41% | 60.25% | -30.38% | 41.86% | 119.66% | -30.11% | -58.01% | 103.02% | 0.19% | 23.31% |
| Net Income (Continuing) | 2.87B | 3.23B | 2.25B | 3.19B | 7B | 4.9B | 2.06B | 4.17B | 4.18B | 4.58B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 11.47▲ 0% | 18.49▲ 61.2% | 13.22▼ 28.5% | 19.03▲ 43.9% | 43.54▲ 128.8% | 31.47▼ 27.7% | 13.53▼ 57.0% | 28.34▲ 109.5% | 29.08▲ 2.6% | 32.11▲ 0% |
| EPS Growth % | -5.91% | 61.2% | -28.5% | 43.95% | 128.8% | -27.72% | -57.01% | 109.46% | 2.61% | 26.09% |
| EPS (Basic) | 11.55 | 18.59 | 13.28 | 19.08 | 43.70 | 31.61 | 13.57 | 28.39 | 29.14 | - |
| Diluted Shares Outstanding | 175.6M | 174.6M | 170M | 167.6M | 160.9M | 155.6M | 152M | 147.3M | 143.8M | 142.5M |
| Basic Shares Outstanding | 174.4M | 173.7M | 169.3M | 167.1M | 160.3M | 154.9M | 151.5M | 147M | 143.5M | 142.1M |
| Dividend Payout Ratio | 34.19% | 25.43% | 39.15% | 29.88% | 14.03% | 21.49% | 54.28% | 28.41% | 30.92% | - |
NOC Balance Sheet
Northrop Grumman Corporation (NOC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 16.59B | 9.68B | 10.57B | 15.13B | 12.24B | 12.31B | 13.5B | 14.09B | 15.1B | 14.77B |
| Cash & Short-Term Investments | 11.22B | 1.58B | 2.25B | 4.91B | 3.53B | 2.58B | 3.11B | 4.35B | 4.4B | 2.09B |
| Cash Only | 11.22B | 1.58B | 2.25B | 4.91B | 3.53B | 2.58B | 3.11B | 4.35B | 4.4B | 2.09B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 4.52B | 6.47B | 6.66B | 6.64B | 6.96B | 7.49B | 8.65B | 7.7B | 8.84B | 9.36B |
| Days Sales Outstanding | 63.92 | 78.52 | 71.83 | 65.87 | 71.22 | 74.73 | 80.33 | 68.47 | 76.93 | 80.41 |
| Inventory | 780M | 654M | 783M | 759M | 811M | 978M | 1.11B | 1.46B | 1.31B | 0 |
| Days Inventory Outstanding | 14.34 | 10.24 | 10.75 | 9.45 | 10.42 | 12.26 | 12.36 | 16.26 | 14.2 | 12.13 |
| Other Current Assets | 445M | 973M | 878M | 2.83B | 944M | 1.26B | 635M | 583M | 543M | 3.32B |
| Total Non-Current Assets | 18.57B | 27.97B | 30.4B | 29.13B | 30.15B | 31.27B | 32.84B | 35.27B | 36.28B | 35.24B |
| Property, Plant & Equipment | 4.22B | 6.37B | 8.42B | 8.6B | 9.55B | 10.61B | 11.47B | 12.31B | 12.83B | 12.17B |
| Fixed Asset Turnover | 6.11x | 4.72x | 4.02x | 4.28x | 3.74x | 3.45x | 3.43x | 3.33x | 3.27x | 3.41x |
| Goodwill | 12.46B | 18.67B | 18.71B | 17.52B | 17.52B | 17.52B | 17.52B | 17.51B | 17.44B | 17.44B |
| Intangible Assets | 52M | 1.37B | 1.04B | 783M | 578M | 384M | 305M | 254M | 208M | 0 |
| Long-Term Investments | 352M | 319M | 364M | 377M | 418M | 332M | 339M | 347M | 483M | 1.79B |
| Other Non-Current Assets | 1.06B | 1.14B | 1.36B | 1.53B | 1.89B | 2.26B | 2.19B | 3.25B | 4.27B | 15.71B |
| Total Assets | 34.92B▲ 0% | 37.65B▲ 7.8% | 41.09B▲ 9.1% | 44.47B▲ 8.2% | 42.58B▼ 4.3% | 43.76B▲ 2.8% | 46.54B▲ 6.4% | 49.36B▲ 6.0% | 51.38B▲ 4.1% | 50.01B▲ 0% |
| Asset Turnover | 0.74x | 0.80x | 0.82x | 0.83x | 0.84x | 0.84x | 0.84x | 0.83x | 0.82x | 0.85x |
| Asset Growth % | 36.32% | 7.84% | 9.13% | 8.23% | -4.25% | 2.76% | 6.37% | 6.05% | 4.09% | 13.09% |
| Total Current Liabilities | 6.96B | 8.27B | 9.43B | 9.58B | 9.53B | 11.59B | 11.94B | 14.13B | 13.88B | 12.82B |
| Accounts Payable | 1.66B | 2.18B | 2.23B | 1.81B | 2.2B | 2.59B | 2.11B | 2.6B | 3.24B | 2.68B |
| Days Payables Outstanding | 30.54 | 34.18 | 30.57 | 22.48 | 28.24 | 32.42 | 23.52 | 29.04 | 35.15 | 30.65 |
| Short-Term Debt | 867M | 517M | 1.45B | 1B | 290M | 1.37B | 370M | 1.91B | 865M | 758M |
| Deferred Revenue (Current) | 1.62B | 1.92B | 2.24B | 2.52B | 3.03B | 3.61B | 4.19B | 4.07B | 4.09B | 11.64B |
| Other Current Liabilities | 3.18B | 1.98B | 1.24B | 2.25B | 2.02B | 1.96B | 3.02B | 3.28B | 3.38B | 9.38B |
| Current Ratio | 2.38x | 1.17x | 1.12x | 1.58x | 1.28x | 1.06x | 1.13x | 1.00x | 1.09x | 1.09x |
| Quick Ratio | 2.27x | 1.09x | 1.04x | 1.50x | 1.20x | 0.98x | 1.04x | 0.89x | 0.99x | 0.99x |
| Cash Conversion Cycle | 47.72 | 54.59 | 52.02 | 52.84 | 53.4 | 54.57 | 69.17 | 55.69 | 55.98 | 61.89 |
| Total Non-Current Liabilities | 20.9B | 21.19B | 22.84B | 24.31B | 20.12B | 16.86B | 19.81B | 19.94B | 20.82B | 20.07B |
| Long-Term Debt | 14.4B | 13.88B | 14.08B | 15.6B | 14.37B | 13.63B | 15.68B | 16.49B | 17.02B | 1.91B |
| Capital Lease Obligations | 0 | 0 | 1.31B | 1.34B | 1.59B | 1.82B | 1.89B | 1.8B | 1.86B | 7.36B |
| Deferred Tax Liabilities | 1.71B | 108M | 0 | 0 | 490M | 132M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.8B | 7.2B | 7.45B | 7.36B | 3.68B | 1.27B | 2.24B | 1.65B | 1.95B | 23.7B |
| Total Liabilities | 27.87B | 29.47B | 32.27B | 33.89B | 29.65B | 28.44B | 31.75B | 34.07B | 34.7B | 32.89B |
| Total Debt | 15.27B | 14.4B | 16.83B | 17.95B | 16.25B | 16.82B | 17.94B | 20.19B | 19.74B | 1.91B |
| Net Debt | 4.04B | 12.82B | 14.59B | 13.04B | 12.72B | 14.25B | 14.83B | 15.84B | 15.34B | -185M |
| Debt / Equity | 2.17x | 1.76x | 1.91x | 1.70x | 1.26x | 1.10x | 1.21x | 1.32x | 1.18x | 1.18x |
| Debt / EBITDA | 4.05x | 3.14x | 3.22x | 3.37x | 2.36x | 3.40x | 4.63x | 3.52x | 3.43x | 0.31x |
| Net Debt / EBITDA | 1.07x | 2.80x | 2.79x | 2.45x | 1.85x | 2.88x | 3.83x | 2.76x | 2.67x | 2.67x |
| Interest Coverage | 12.37x | 7.66x | 5.62x | 7.29x | 13.48x | 12.53x | 5.30x | 8.81x | 8.62x | 8.92x |
| Total Equity | 7.05B▲ 0% | 8.19B▲ 16.2% | 8.82B▲ 7.7% | 10.58B▲ 20.0% | 12.93B▲ 22.2% | 15.31B▲ 18.5% | 14.79B▼ 3.4% | 15.29B▲ 3.3% | 16.67B▲ 9.1% | 17.11B▲ 0% |
| Equity Growth % | 34.02% | 16.16% | 7.72% | 19.96% | 22.19% | 18.46% | -3.38% | 3.35% | 9.05% | 39.86% |
| Book Value per Share | 40.14 | 46.89 | 51.88 | 63.12 | 80.34 | 98.41 | 97.34 | 103.80 | 115.95 | 120.11 |
| Total Shareholders' Equity | 7.05B | 8.19B | 8.82B | 10.58B | 12.93B | 15.31B | 14.79B | 15.29B | 16.67B | 17.11B |
| Common Stock | 174M | 171M | 168M | 167M | 156M | 153M | 150M | 145M | 142M | 142M |
| Retained Earnings | 11.55B | 8.07B | 8.75B | 10.48B | 12.91B | 15.31B | 14.77B | 15.3B | 16.66B | 17.1B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -4.72B | -52M | -97M | -128M | -143M | -153M | -128M | -152M | -126M | -131M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NOC Cash Flow Statement
Northrop Grumman Corporation (NOC) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 2.61B | 3.83B | 4.3B | 4.3B | 3.57B | 2.9B | 3.88B | 4.39B | 4.76B | 4.76B |
| Operating CF Margin % | 10.13% | 12.72% | 12.7% | 11.7% | 10% | 7.93% | 9.86% | 10.69% | 11.34% | - |
| Operating CF Growth % | -7.11% | 46.46% | 12.28% | 0.19% | -17.14% | -18.67% | 33.57% | 13.24% | 8.41% | 48.97% |
| Net Income | 2.02B | 3.23B | 2.25B | 3.19B | 7B | 4.9B | 2.06B | 4.17B | 4.18B | 4.58B |
| Depreciation & Amortization | 475M | 800M | 1.02B | 1.27B | 1.24B | 1.34B | 1.34B | 1.37B | 1.47B | 1.51B |
| Stock-Based Compensation | 94M | 86M | 127M | 90M | 94M | 99M | 87M | 101M | 119M | 119M |
| Deferred Taxes | 603M | 234M | -509M | 210M | 603M | -321M | -988M | -582M | 548M | 890M |
| Other Non-Cash Items | -646M | 392M | 1.99B | 1B | -5.55B | -2.52B | 1.53B | -1.01B | -701M | -1.22B |
| Working Capital Changes | 72M | -914M | -575M | -1.45B | 181M | -600M | -144M | 335M | -863M | -1.21B |
| Change in Receivables | -677M | 202M | 122M | -285M | -10M | -44M | 54M | -33M | -108M | -548M |
| Change in Inventory | 36M | -37M | -135M | 18M | -52M | -205M | -220M | -358M | 97M | 78M |
| Change in Payables | 539M | 381M | 617M | 719M | 376M | 572M | 519M | -513M | 646M | 1.1B |
| Cash from Investing | -889M | -8.88B | -1.21B | -1.21B | 2.06B | -1.24B | -1.58B | -1.75B | -1.16B | -1.07B |
| Capital Expenditures | -928M | -1.25B | -1.26B | -1.42B | -1.42B | -1.44B | -1.77B | -1.77B | -1.45B | -1.36B |
| CapEx % of Revenue | 3.6% | 4.15% | 3.74% | 3.86% | 3.97% | 3.92% | 4.52% | 4.31% | 3.46% | - |
| Acquisitions | 0 | -7.66B | 0 | 205M | 3.4B | 155M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 39M | 28M | 57M | 4M | 73M | 39M | -4M | 18M | 295M | 290M |
| Cash from Financing | 6.96B | -4.59B | -2.42B | -432M | -7B | -2.61B | -1.76B | -1.4B | -3.55B | -3.19B |
| Debt Issued (Net) | 8.23B | -2.4B | -729M | 1.13B | -2.24B | 0 | 945M | 2.5B | -502M | -505M |
| Equity Issued (Net) | -393M | -1.26B | -809M | -556M | -3.71B | -1.5B | -1.5B | -2.51B | -1.62B | -1.21B |
| Dividends Paid | -689M | -821M | -880M | -953M | -983M | -1.05B | -1.12B | -1.19B | -1.29B | -1.32B |
| Share Repurchases | -393M | -1.26B | -809M | -490M | -3.71B | -1.5B | -1.5B | -2.51B | -1.62B | -1.21B |
| Other Financing | -190M | -113M | -6M | -57M | -78M | -57M | -90M | -190M | -133M | -149M |
| Net Change in Cash | 8.68B▲ 0% | -9.65B▼ 211.1% | 666M▲ 106.9% | 2.66B▲ 299.7% | -1.38B▼ 151.7% | -953M▲ 30.8% | 532M▲ 155.8% | 1.24B▲ 133.8% | 50M▼ 96.0% | 405M▲ 0% |
| Free Cash Flow | 1.69B▲ 0% | 2.58B▲ 53.0% | 3.03B▲ 17.6% | 2.88B▼ 4.9% | 2.15B▼ 25.4% | 1.47B▼ 31.9% | 2.1B▲ 43.2% | 2.62B▲ 24.8% | 3.31B▲ 26.2% | 3.31B▲ 0% |
| FCF Margin % | 6.53% | 8.57% | 8.96% | 7.84% | 6.03% | 4.01% | 5.34% | 6.39% | 7.88% | 7.8% |
| FCF Growth % | -10.99% | 53% | 17.65% | -4.88% | -25.41% | -31.88% | 43.25% | 24.81% | 26.17% | 86.09% |
| FCF per Share | 9.60 | 14.77 | 17.84 | 17.21 | 13.37 | 9.42 | 13.82 | 17.79 | 23.00 | 23.00 |
| FCF Conversion (FCF/Net Income) | 1.30x | 1.19x | 1.91x | 1.35x | 0.51x | 0.59x | 1.88x | 1.05x | 1.14x | 0.72x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NOC Key Ratios
Northrop Grumman Corporation (NOC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 32.75% | 42.39% | 26.44% | 32.88% | 59.6% | 34.68% | 13.66% | 27.75% | 26.17% | 28.05% |
| Return on Invested Capital (ROIC) | 23.7% | 17.67% | 13.4% | 12.96% | 17.21% | 9.79% | 6.43% | 10.79% | 10.17% | 10.17% |
| Gross Margin | 23.07% | 22.57% | 21.45% | 20.32% | 20.38% | 20.42% | 16.67% | 20.38% | 19.81% | 20.52% |
| Net Margin | 7.81% | 10.73% | 6.64% | 8.67% | 19.64% | 13.38% | 5.23% | 10.17% | 9.97% | 10.8% |
| Debt / Equity | 2.17x | 1.76x | 1.91x | 1.70x | 1.26x | 1.10x | 1.21x | 1.32x | 1.18x | 1.18x |
| Interest Coverage | 12.37x | 7.66x | 5.62x | 7.29x | 13.48x | 12.53x | 5.30x | 8.81x | 8.62x | 8.92x |
| FCF Conversion | 1.30x | 1.19x | 1.91x | 1.35x | 0.51x | 0.59x | 1.88x | 1.05x | 1.14x | 0.72x |
| Revenue Growth | 5.28% | 16.63% | 12.45% | 8.74% | -3.08% | 2.62% | 7.34% | 4.44% | 2.24% | 4.95% |
NOC SEC Filings & Documents
Northrop Grumman Corporation (NOC) SEC filings — annual & quarterly reports (10-K, 10-Q)
NOC Frequently Asked Questions
Northrop Grumman Corporation (NOC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Northrop Grumman Corporation (NOC) reported $42.37B in revenue for fiscal year 2025. This represents a 425% increase from $8.07B in 1996.
Northrop Grumman Corporation (NOC) grew revenue by 2.2% over the past year. Growth has been modest.
Yes, Northrop Grumman Corporation (NOC) is profitable, generating $4.58B in net income for fiscal year 2025 (10.0% net margin).
Dividend & Returns
Yes, Northrop Grumman Corporation (NOC) pays a dividend with a yield of 1.61%. This makes it attractive for income-focused investors.
Northrop Grumman Corporation (NOC) has a return on equity (ROE) of 26.2%. This is excellent, indicating efficient use of shareholder capital.
Northrop Grumman Corporation (NOC) generated $3.31B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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