Northrop Grumman Corporation (NOC) quarterly cash flow statement — complete operating, investing & financing history
Northrop Grumman Corporation (NOC) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.28B | -1.66B | 3.9B | 1.56B | 868M | -1.56B | 2.58B | 1.09B | 1.43B | -706M | 2.43B | 1.23B | 919M | -702M | 2.25B | 1.33B | -197M | -488M | 1.44B | 1.16B |
| Operating CF Margin % | 11.77% | -16.76% | 33.27% | 14.94% | 8.39% | -16.53% | 24.13% | 10.91% | 13.95% | -6.97% | 22.84% | 12.56% | 9.6% | -7.55% | 22.44% | 14.88% | -2.24% | -5.55% | 16.69% | 13.34% |
| Operating CF Growth % | 47.47% | -5.81% | 51.16% | 42.71% | -39.09% | -121.67% | 6.09% | -11.16% | 55.06% | -0.57% | 7.95% | -8.02% | 566.5% | -43.85% | 56.1% | 14.79% | -119.16% | -639.39% | -9.99% | -14.42% |
| Net Income | 1.09B | 875M | 1.43B | 1.1B | 1.17B | 481M | 1.26B | 1.03B | 940M | 944M | -535M | 937M | 812M | 842M | 2.08B | 915M | 946M | 955M | 2.71B | 1.06B |
| Depreciation & Amortization | 367M | 372M | 406M | 379M | 350M | 337M | 414M | 331M | 326M | 299M | 400M | 317M | 323M | 298M | 382M | 327M | 330M | 303M | 331M | 314M |
| Stock-Based Compensation | 29M | 20M | 54M | 25M | 20M | 20M | 29M | 26M | 26M | 20M | 23M | 17M | 28M | 19M | 27M | 30M | 24M | 18M | 23M | 31M |
| Deferred Taxes | 145M | 308M | 204M | 458M | -80M | -34M | -195M | -157M | -127M | -103M | -690M | 125M | -218M | -205M | 117M | -39M | -198M | -201M | 708M | 16M |
| Other Non-Cash Items | 73M | -154M | 1.13B | -1.86B | -340M | 365M | -554M | -137M | -146M | -149M | 1.91B | -203M | -47M | -131M | -1.61B | -304M | -292M | -309M | -2.63B | -301M |
| Working Capital Changes | -428M | -3.08B | 674M | 1.45B | -256M | -2.73B | 1.62B | 2M | 406M | -1.72B | 1.32B | 35M | 21M | -1.52B | 1.25B | 406M | -1.01B | -1.25B | 305M | 40M |
| Change in Receivables | -505M | -982M | 608M | 487M | -661M | -542M | 947M | 826M | 154M | -1.14B | 310M | 335M | -41M | -550M | 425M | 451M | -674M | -246M | 123M | 320M |
| Change in Inventory | 26M | -144M | 276M | -77M | 23M | -125M | 184M | -144M | -136M | -262M | 176M | -65M | -194M | -137M | -34M | -73M | -71M | -27M | 61M | -9M |
| Change in Payables | 214M | -559M | 1.29B | -150M | 522M | -1.01B | 402M | 3M | -337M | -581M | 962M | 600M | 85M | -1.13B | 629M | 667M | 8M | -732M | 327M | 251M |
| Cash from Investing | -196M | -168M | -664M | -300M | 61M | -252M | -798M | -361M | -321M | -269M | -770M | -200M | -303M | -309M | -578M | -195M | -219M | -249M | -741M | -223M |
| Capital Expenditures | -302M | -167M | -662M | -301M | -231M | -256M | -816M | -361M | -320M | -270M | -803M | -359M | -304M | -309M | -632M | -296M | -263M | -244M | -733M | -247M |
| CapEx % of Revenue | 2.78% | 1.69% | 5.65% | 2.89% | 2.23% | 2.7% | 7.64% | 3.61% | 3.13% | 2.66% | 7.55% | 3.67% | 3.17% | 3.32% | 6.3% | 3.3% | 2.99% | 2.77% | 8.48% | 2.83% |
| Acquisitions | 0 | 0 | 0 | -333M | 333M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55M | 100M | 0 | 0 | -3.4B | 28M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -1M | -1M | -2M | 334M | -41M | 4M | 18M | 0 | -1M | 1M | -7M | 2M | 1M | 0 | -1M | 1M | 44M | -5M | 3.39B | -4M |
| Cash from Financing | -867M | -489M | -787M | -1.2B | -715M | -851M | -753M | -676M | -893M | 927M | -633M | -2.33B | 273M | 929M | -762M | -643M | -589M | -619M | -1.23B | -826M |
| Debt Issued (Net) | -498M | -29M | 0 | -566M | 90M | -26M | 0 | 0 | 0 | 2.5B | 0 | -1.82B | 768M | 2B | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | -68M | -456M | -277M | -411M | -480M | -441M | -321M | -562M | -1.19B | -346M | -224M | -208M | -723M | -493M | -371M | -322M | -318M | -981M | -581M |
| Dividends Paid | -351M | -333M | -329M | -330M | -332M | -302M | -299M | -301M | -303M | -283M | -282M | -280M | -284M | -270M | -266M | -267M | -268M | -251M | -246M | -251M |
| Share Repurchases | 0 | -68M | -456M | -277M | -411M | -480M | -441M | -321M | -562M | -1.19B | -346M | -223M | -208M | -723M | -493M | -371M | -322M | -318M | -981M | -581M |
| Other Financing | -18M | -59M | -2M | -26M | -62M | -43M | -13M | -54M | -28M | -95M | -5M | -8M | -3M | -73M | -3M | -5M | 1M | -50M | 1M | 6M |
| Net Change in Cash | 217M | -2.31B | 2.45B | 58M | 214M | -2.67B | 1.03B | 54M | 211M | -48M | 1.03B | -1.3B | 889M | -82M | 911M | 497M | -1B | -1.36B | -525M | 114M |
| Free Cash Flow | 978M | -1.82B | 3.23B | 1.26B | 637M | -1.82B | 1.76B | 730M | 1.1B | -976M | 1.63B | 869M | 615M | -1.01B | 1.62B | 1.04B | -460M | -732M | 709M | 916M |
| FCF Margin % | 8.99% | -18.45% | 27.62% | 12.05% | 6.15% | -19.23% | 16.49% | 7.3% | 10.81% | -9.63% | 15.29% | 8.89% | 6.42% | -10.87% | 16.14% | 11.58% | -5.23% | -8.32% | 8.21% | 10.5% |
| FCF Growth % | 53.53% | -0.11% | 83.6% | 72.05% | -42.35% | -86.58% | 8.3% | -16% | 79.67% | 3.46% | 0.49% | -16.36% | 233.7% | -38.11% | 128.35% | 13.43% | -157.64% | -170.11% | -29.8% | -14.55% |
| FCF per Share | 6.87 | -12.79 | 22.64 | 8.75 | 4.42 | -12.57 | 11.96 | 4.98 | 7.48 | -6.54 | 10.77 | 5.73 | 4.04 | -6.60 | 10.48 | 6.69 | -2.95 | -4.67 | 4.42 | 5.71 |
| FCF Conversion (FCF/Net Income) | 1.17x | -1.89x | 2.73x | 1.42x | 0.74x | -3.25x | 2.04x | 1.06x | 1.52x | -0.75x | -4.54x | 1.31x | 1.13x | -0.83x | 1.08x | 1.46x | -0.21x | -0.51x | 0.53x | 1.09x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |