Northrop Grumman
NOC NYSE· Aerospace & Defense
Last close · Oct 26, 2026
$565.41
KIRA · Stoqly’s AI analyst, in plain words
- Northrop Grumman had $42.0B of revenue in fiscal 2025, up 2.2% on the year before. Over five years, revenue changed +2.7% a year on average.
- Its operating margin was 10.8%, up 0.1 pts: of every 100 in sales, about 11 is left after running the business.
- Northrop Grumman made $4.2B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 11.1% a year.
- Free cash flow was $3.3B in fiscal 2025, 7.9% of revenue.
- Northrop Grumman returned $2.9B to shareholders in fiscal 2025, 88% of free cash flow. The diluted share count fell 2.4%.
- Northrop Grumman owes $11.3B more than it holds in cash, about 1.9 years of operating profit.
Market cap
$80.5B
P/E
17.9x
Revenue
$42.0B
Net income
$4.2B
Free cash flow
$3.3B
Operating margin
10.8%
Northrop Grumman in 30 seconds · fiscal 2025
Are sales growing?
+2.2%
Only a little. Sales grew 2.2% last year.
Does it make a profit?
10.0%
A little. It keeps 10.0% of every sale as profit.
Does profit turn into cash?
7.9%
Partly. 7.9% of sales ends up as free cash.
Is debt under control?
1.9x
Keep an eye on it. Repaying its debt would take 1.9 years of operating profit.
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
How is the share priced?
17.9x
One share costs 17.9 times its yearly profit per share. Typical for its sector: 26.0x.
What Northrop Grumman does
Northrop Grumman is an aerospace and defense company. It makes military aircraft, weapons, space systems and defense electronics, and sells them principally to the U.S. Department of War and the intelligence community, as well as to international customers. Sales to the U.S. government accounted for 84 percent of its sales in 2025. Most of its business comes from long-term government contracts for development, production and support. Some pay back its allowable costs plus a fee; others are fixed-price, which carry more risk if costs grow but can earn higher margins. It reports four segments. Aeronautics Systems builds and maintains military aircraft, including the B-21 Raider long-range strike aircraft for the U.S. Air Force. Defense Systems makes strategic missiles, tactical weapons, ammunition and rocket motors, and works on Sentinel, the program to modernize the intercontinental ballistic missile system.
Biggest risks, in its own words
- Its heavy dependence on a single customer, the U.S. government, whose priorities and spending can change.
- Delays or cuts in government funding, including a long continuing resolution, a shutdown or a breach of the debt ceiling.
- Cost growth on its contracts, or wrong estimates of contract costs and revenues, cutting into its profits.
- Losing new contracts to competitors in its markets.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Jan 27, 2026
- Legal name
- NORTHROP GRUMMAN CORP /DE/
- CIK
- 0001133421
Northrop Grumman · NOC
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $35.7B | $36.6B | $39.3B | $41.0B | $42.0B |
| Revenue growth | −3.1% | 2.6% | 7.3% | 4.4% | 2.2% |
| Operating margin | 15.8% | 9.8% | 6.5% | 10.7% | 10.8% |
| Net income | $7.0B | $4.9B | $2.1B | $4.2B | $4.2B |
| Net margin | 19.6% | 13.4% | 5.2% | 10.2% | 10.0% |
| Diluted EPS | $43.54 | $31.47 | $13.53 | $28.34 | $29.08 |
| Cash | |||||
| Cash from operations | $3.6B | $2.9B | $3.9B | $4.4B | $4.8B |
| Capital expenditure | $1.4B | $1.4B | $1.8B | $1.8B | $1.5B |
| Free cash flow | $2.2B | $1.5B | $2.1B | $2.6B | $3.3B |
| FCF margin | 6.0% | 4.0% | 5.3% | 6.4% | 7.9% |
| Dividends paid | $983M | $1.1B | $1.1B | $1.2B | $1.3B |
| Share buybacks | $3.7B | $1.5B | $1.5B | $2.5B | $1.6B |
| Share count change | −4.0% | −3.3% | −2.3% | −3.1% | −2.4% |
| Debt and strength | |||||
| Cash and short-term investments | $3.5B | $2.6B | $3.1B | $4.4B | $4.4B |
| Debt incl. finance leases | $12.8B | $12.9B | $13.9B | $16.3B | $15.7B |
| Shareholders' equity | $12.9B | $15.3B | $14.8B | $15.3B | $16.7B |
| Net debt / EBITDA | 1.3x | 2.1x | 2.8x | 2.1x | 1.9x |
| Current ratio | 1.3x | 1.1x | 1.2x | 1.0x | 1.1x |
| Interest coverage | 10.2x | 7.1x | 4.7x | 7.0x | 6.8x |
| Returns and quality | |||||
| Return on capital | 20.7% | 12.6% | 8.7% | 13.8% | 13.5% |
| Return on equity | 59.6% | 34.7% | 13.7% | 27.8% | 26.2% |
| Piotroski F-score | 5 | 4 | 6 | 5 | 6 |
| Altman Z'' | 2.8 | 2.4 | 2.1 | 2.1 | 2.3 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$26.4M
6 insiders
Of sales under plans
36%
$9.5M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Northrop Grumman · NOC
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Northrop Grumman NOC | $80.5B | 2.2% | 10.8% | 7.9% | 13.5% | 17.9x | 6 |
| GE Aerospace GE | $300.3B | 18.5% | — | 15.8% | 35.8% | 33.3x | 5 |
| General Dynamics GD | $97.9B | 10.1% | 10.2% | 7.5% | 14.4% | — | 8 |
| Lockheed Martin LMT | $147.0B | 5.6% | 10.3% | 9.2% | 27.1% | 22.6x | 5 |
| L3Harris LHX | $48.7B | 2.5% | 9.7% | 12.3% | 5.8% | 26.2x | 8 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $565.41 a share, the company is worth $80.5B: 17.9 times its earnings of the last four quarters.
Northrop Grumman grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 0 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001133421). Data updated October 20, 2026. For information only — not investment advice. Check the original filings before relying on any figure.