Northrop Grumman's investment case rests on a durable defense backlog translating into 6.7% revenue growth and an 11.4% operating margin in 2026Q3, alongside a meaningful balance sheet repair in which total debt fell from $20.0B to $16.6B and the D/E ratio compressed from 1.40 to 0.89 over ten quarters.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth has been uneven at 6.7% in 2026Q3 within a -6.6% to 9.6% range, while gross margin of 21.1% and operating margin of 11.4% suggest a program-mix-driven rebound from the 16.7% gross margin trough in 2025Q1 rather than structural pricing improvement.
Northrop Grumman benefits from a wide economic moat, providing a competitive advantage in the defense sector.
The B-21 program is a key growth driver, though technical delays could pose risks.
The company is well-positioned to benefit from sustained government spending on space infrastructure.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 20, 2026 | $7.89+9.9% vs $7.18 | $11.1B-0.2% vs $11.1B |
Q3 2026 Jul 21, 2026 | $7.68+12.6% vs $6.82 | $10.9B+0.7% vs $10.8B |
Q2 2026 Apr 21, 2026 | $6.14+1.3% vs $6.06 | $9.9B+1.3% vs $9.8B |
Q1 2026 Jan 27, 2026 | $7.23+3.6% vs $6.98 | $11.7B+0.8% vs $11.6B |
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While the broader market rallied, defense contractors got hammered after the midterms flipped Congress. A massive spending request now hangs in limbo, and one number on Lockheed's chart may reveal whether Wall Street sees a ceiling or a floor.
Defense stock Northrop Grumman (NOC) is a name to avoid in November, per a seasonal bearish signal and sector headwinds
Midterm election results last night put Democrats in control of both the U.S. Senate and House of Representatives. Even before the election, the Pentagon was preparing to see its record $1.5 trillion defense budget request shaved down to $1.1 trillion.
Benchmark NOC against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Northrop Grumman Corporation (NOC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $525.01 | $74.58B | 18.05 | 2.24% | 9.97% | 26.17% | 1.71% | |
| $567.08 | $130.88B | 26.39 | 5.65% | 8.23% | 78.85% | 2.38% | |
| $189.53 | $255.44B | 38.21 | 9.74% | 8.88% | 12.44% | 1.39% | |
| $354.06 | $95.79B | 22.90 | 10.13% | 8.24% | 17.6% | 1.64% | |
| $173.40 | $137.05B | 69.92 | 34.5% | 8.07% | 126.96% | 0.25% | |
| $288.74 | $11.38B | 18.76 | 8.23% | 5.42% | 13.95% | 1.88% |
Northrop Grumman Corporation (NOC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Northrop Grumman Corporation (NOC) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 20, 2026·SEC
Jul 21, 2026·SEC
May 21, 2026·SEC
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Northrop Grumman Corporation (NOC) stock FAQ — growth, dividends, profitability & financials explained
Northrop Grumman Corporation (NOC) reported $43.59B in revenue over the trailing twelve months. Revenue was $41.95B in fiscal year 2025. That is 420% more than the $8.07B of fiscal year 1996.
Northrop Grumman Corporation (NOC) grew revenue by 2.2% in fiscal year 2025, compared with the prior fiscal year.
Yes. Northrop Grumman Corporation (NOC) earned $4.52B in net income over the trailing twelve months (a 10.4% net margin).
Yes. Northrop Grumman Corporation (NOC) pays a dividend that yields 1.71% at the current price, a moderate yield.
Northrop Grumman Corporation (NOC) had a return on equity (ROE) of 26.2% in fiscal year 2025. That is well above the market's typical 10-15%.
Northrop Grumman Corporation (NOC) generated $3.83B in free cash flow over the trailing twelve months.
