GE Vernova vs Northrop Grumman
Add, change or remove companies; up to four.
The short version
- Northrop Grumman is the larger business, with $42.0B of revenue in fiscal 2025 against $38.1B for GE Vernova.
- GE Vernova grew revenue faster (9.0%, against 2.2%).
- Northrop Grumman kept more of each dollar of sales as operating profit (10.8% operating margin, against 3.7%).
- GE Vernova turned more of its sales into free cash flow (9.8% FCF margin, against 7.9%).
- Investors pay more for each dollar of GE Vernova’s earnings: a P/E of 23.4x against 17.4x for Northrop Grumman.
| Latest fiscal year | GEV · FY25 | NOC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $220.1B | $78.5B |
| Revenue | $38.1B | $42.0B |
| Free cash flow | $3.7B | $3.3B |
| Net income | $4.9B | $4.2B |
| Growth | ||
| Revenue growth | 9.0% | 2.2% |
| 5-year growth | — | 2.7% |
| Share count change | −0.7% | −2.4% |
| Profitability | ||
| Gross margin | 19.8% | — |
| Operating margin | 3.7% | 10.8% |
| Net margin | 12.8% | 10.0% |
| FCF margin | 9.8% | 7.9% |
| Return on capital | — | 13.5% |
| Return on equity | 47.1% | 26.2% |
| Balance sheet | ||
| Net debt | −$8.5B | $11.3B |
| Net debt / EBITDA | −3.8x | 1.9x |
| Dividends and buybacks | $3.6B | $2.9B |
| Valuation & quality | ||
| P/E | 23.4x | 17.4x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
GEV —
NOC $24.7B
FY17
GEV —
NOC $26.0B
FY18
GEV —
NOC $30.1B
FY19
GEV —
NOC $33.8B
FY20
GEV —
NOC $36.8B
FY21
GEV —
NOC $35.7B
FY22
GEV $29.7B
NOC $36.6B
FY23
GEV $33.2B
NOC $39.3B
FY24
GEV $34.9B
NOC $41.0B
FY25
GEV $38.1B
NOC $42.0B
GEV
NOC
Operating margin
FY16
GEV —
NOC 13.3%
FY17
GEV —
NOC 12.4%
FY18
GEV —
NOC 12.6%
FY19
GEV —
NOC 11.7%
FY20
GEV —
NOC 11.1%
FY21
GEV —
NOC 15.8%
FY22
GEV −9.7%
NOC 9.8%
FY23
GEV −2.8%
NOC 6.5%
FY24
GEV 1.4%
NOC 10.7%
FY25
GEV 3.7%
NOC 10.8%
GEV
NOC
Free cash flow
FY16
GEV —
NOC $1.9B
FY17
GEV —
NOC $1.7B
FY18
GEV —
NOC $2.6B
FY19
GEV —
NOC $3.0B
FY20
GEV —
NOC $2.9B
FY21
GEV —
NOC $2.2B
FY22
GEV −$627M
NOC $1.5B
FY23
GEV $442M
NOC $2.1B
FY24
GEV $1.7B
NOC $2.6B
FY25
GEV $3.7B
NOC $3.3B
GEV
NOC
Return on capital
FY16
GEV —
NOC 25.5%
FY17
GEV —
NOC 20.7%
FY18
GEV —
NOC 20.3%
FY19
GEV —
NOC 16.9%
FY20
GEV —
NOC 16.9%
FY21
GEV —
NOC 20.7%
FY22
GEV —
NOC 12.6%
FY23
GEV —
NOC 8.7%
FY24
GEV 5.9%
NOC 13.8%
FY25
GEV —
NOC 13.5%
GEV
NOC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.