Saturday 17 October 2026 Export NOC’s income statement to Excel — free account

Northrop Grumman Corporation

Northrop Grumman Corporation’s revenue for fiscal 2025 (year ended December 2025) was $42.0 billion, up 2.24% from fiscal 2024. In the quarter to June 2026, revenue grew 5.07%, EPS fell 5.75%, free cash flow grew 53.5% and total debt fell 4.83%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for three, operating cash flow growth for three.

519.86 20.23 +4.05%

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Market cap: $71.0B
P/E: 16.5×
Fwd P/E: 19.5×
Dividend yield: 1.84%
F-score: 6/9
Altman Z: 3.01
Beneish M: −2.42
Dividend safety: 82/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 26.43

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	1	1	11	1	—	1	—	—	1	—	—

Insider Ownership 0.26%

Capital & Financial Ratios $m

Market Cap 70,980.00

Revenue 42,892.00

Net Income 4,496.00

Free Cash Flow 3,646.00

Net Debt 12,121.00

Current Ratio 1.17

Debt/Equity 0.81

P/E ratio 16.48

Fwd P/E 19.50

P/S ratio 1.72

P/B ratio 4.13

Past 5Y EPS Growth 8.85%

This Y EPS Growth 9.82%

Next Y EPS Growth 4.96%

Next Y revenue growth 4.99%

Next 5Y EPS Growth 7.62%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 33.98%

10-year low 10-year high

P/S against its own 10 years 40.73%

10-year low 10-year high

P/B against its own 10 years 1.18%

10-year low 10-year high

EV/Sales against its own 10 years 40.62%

10-year low 10-year high

EV/FCF against its own 10 years 25.14%

10-year low 10-year high

Dividends

Payout Ratio 0.30

Annual Dividend Rate 9.56

Annual Dividend Yield 1.84%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	9.72	2.31 2.47 2.47
2025	8.99	2.06 2.31 2.31 2.31
2024	8.05	1.87 2.06 2.06 2.06
2023	7.34	1.73 1.87 1.87 1.87
2022	6.76	1.57 1.73 1.73 1.73
2021	6.16	1.45 1.57 1.57 1.57
2020	5.67	1.32 1.45 1.45 1.45
2019	5.16	1.20 1.32 1.32 1.32
2018	4.70	1.10 1.20 1.20 1.20
2017	3.90	0.90 1.00 1.00 1.00
2016	3.50	0.80 0.90 0.90 0.90

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	3,109	4,353	4,403	2,307
Receivables	7,147	7,180	7,919	10,264
Inventory	1,109	1,455	1,309	1,415
Other	—	—	—	—
	13,706	14,274	15,287	15,590

	2023	2024	2025	Q'26
Payables	2,110	2,599	3,240	2,895
ST’ Debt	—	—	—	—
Other	7,581	9,258	8,333	8,459
	11,942	14,128	13,882	13,345

Compound Annual Growth %

	10y	5y	3y
Sales	5.96%	2.66%	4.65%
Cash Flow	8.21%	2.02%	17.92%
Earnings	7.71%	5.57%	(5.12%)
Book Value	11.68%	9.53%	2.88%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	9,881	10,876	—	—	—
’25	9,468	10,351	10,423	11,712	41,954
’24	10,133	10,218	9,996	10,686	41,033
’23	9,301	9,576	9,775	10,638	39,290
’22	8,797	8,801	8,971	10,033	36,602
’21	9,157	9,151	8,720	8,639	35,667
’20	8,620	8,884	9,083	10,212	36,799

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,656)	1,280	—	—	—
’25	(1,565)	868	1,557	3,897	4,757
’24	(706)	1,425	1,091	2,578	4,388
’23	(702)	919	1,228	2,430	3,875
’22	(488)	(197)	1,335	2,251	2,901
’21	(66)	1,028	1,163	1,442	3,567
’20	(993)	2,337	1,359	1,602	4,305

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,823)	978	—	—	—
’25	(1,821)	637	1,256	3,235	3,307
’24	(976)	1,105	730	1,762	2,621
’23	(1,011)	615	869	1,627	2,100
’22	(732)	(460)	1,139	1,674	1,621
’21	(271)	854	944	709	2,236
’20	(1,265)	2,068	1,072	1,215	3,090

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	6.14	7.68	—	—	—
’25	3.32	8.15	7.67	9.99	29.08
’24	6.32	6.36	7.00	8.66	28.34
’23	5.50	5.34	6.18	(3.54)	13.53
’22	6.10	6.06	5.89	13.46	31.47
’21	13.43	6.42	6.63	17.14	43.54
’20	5.15	6.01	5.89	1.97	19.03

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	175.00	223.88	223.63	237.08	263.31	282.88	364.62	414.56	418.60	426.24	Analyst estimates 2026–2028 Powerpack
	High	253.80	311.15	360.88	383.89	385.01	408.03	556.27	547.80	555.57	640.90
People
People	Employees	67,000	70,000	85,000	90,000	97,000	88,000	95,000	101,000	97,000	95,000
	Revenue/emp, $m	0.37	0.37	0.35	0.38	0.38	0.41	0.39	0.39	0.42	0.44
Income, $m
Income, $m	Revenue	24,706	26,004	30,095	33,841	36,799	35,667	36,602	39,290	41,033	41,954
	Gross margin, %	23.92	22.80	22.57	21.45	20.32	20.38	20.42	16.67	20.38	19.81
	EBT	2,681	4,229	3,742	2,548	3,728	8,938	5,836	2,346	5,016	5,068
	EBT margin, %	10.85	16.26	12.43	7.53	10.13	25.06	15.94	5.97	12.22	12.08
	Net income	2,043	2,869	3,229	2,248	3,189	7,005	4,896	2,056	4,174	4,182
	Depreciation	456	475	800	1,265	1,267	1,239	1,342	1,338	1,370	1,472
Per share, $
Per share, $	Revenue	138.10	149.11	173.26	199.89	220.22	222.50	236.29	259.34	279.14	292.36
	Earnings	12.30	16.45	18.59	13.22	19.03	43.54	31.47	13.53	28.34	29.14
	Cash flow	15.72	14.98	22.03	25.38	25.76	22.25	18.73	25.58	29.85	33.15
	Capex	(5.14)	(5.32)	(7.19)	(7.47)	(7.27)	(8.30)	(8.26)	(11.72)	(12.02)	(10.10)
	Free cash flow	10.58	9.66	14.84	17.91	18.49	13.95	10.46	13.86	17.83	23.05
	Book value	29.40	40.89	47.13	52.09	63.31	80.64	98.85	97.66	104.01	116.20
	Shares, m	179	174	174	169	167	160	155	152	147	144
Valuation, ×
Valuation, ×	P/E	20.56	18.63	14.55	25.98	16.02	8.87	17.13	34.80	16.53	19.54
	P/S	1.70	2.05	1.41	1.72	1.38	1.74	2.29	1.81	1.68	1.95
	P/B	7.99	7.46	5.20	6.60	4.81	4.80	5.47	4.81	4.51	4.91
	EV/Sales	1.88	2.17	1.82	2.03	1.64	2.00	2.54	2.08	1.93	2.21
	EV/FCF	24.58	33.48	21.27	22.67	19.51	31.88	57.33	39.00	30.27	28.00
Cash, $m
Cash, $m	Operating cash flow	2,813	2,613	3,827	4,297	4,305	3,567	2,901	3,875	4,388	4,757
	Capex	(920)	(928)	(1,249)	(1,264)	(1,215)	(1,331)	(1,280)	(1,775)	(1,767)	(1,450)
	Free cash flow	1,893	1,685	2,578	3,033	3,090	2,236	1,621	2,100	2,621	3,307
Balance, $m
Balance, $m	Working capital	1,226	9,495	1,406	1,251	5,764	2,896	901	1,764	146	1,405
	Total debt	7,058	14,399	13,883	12,770	14,261	12,777	11,805	13,786	14,692	15,162
	Net debt	4,517	3,174	12,304	10,525	9,354	9,247	9,228	10,677	10,339	10,759
	Shareholders’ equity	5,259	7,132	8,187	8,819	10,579	12,926	15,312	14,795	15,290	16,674
Returns, %
Returns, %	ROA	8.17	9.45	8.87	5.71	7.45	16.09	11.34	4.55	8.70	8.30
	ROIC	20.95	19.52	11.53	12.82	12.75	15.93	9.17	6.22	10.66	10.28
	ROE	37.90	46.31	42.16	26.44	32.88	59.60	34.68	13.66	27.75	26.17

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LMT Lockheed Martin Corporation	$122.9B	20.3×	17.5×	+10.51% (above 0%: growing)	+446.58% (above 0%: growing)	+2,044.67% (above 0%: growing)	12.19%	12.36%	Compare
GD General Dynamics Corporation	$91.2B	20.7×	20.8×	+8.07% (above 0%: growing)	+13.49% (above 0%: growing)	+17.57% (above 0%: growing)	15.49%	10.36%	Compare
HWM Howmet Aerospace Inc.	$87.6B	47.4×	48.4×	+24.06% (above 0%: growing)	+31.68% (above 0%: growing)	+38.04% (above 0%: growing)	37.34%	27.92%	Compare
NOC Northrop Grumman Corporation	$71.0B	16.5×	19.5×	+5.07% (above 0%: growing)	−5.75% (below 0%: shrinking)	+53.53% (above 0%: growing)	19.50%	10.08%
TDG Transdigm Group Incorporated	$62.7B	34.6×	35.3×	+22.53% (above 0%: growing)	+10.86% (above 0%: growing)	+13.44% (above 0%: growing)	59.39%	44.76%	Compare
LHX L3Harris Technologies Inc	$44.8B	25.0×	26.5×	+8.39% (above 0%: growing)	+28.57% (above 0%: growing)	+37.43% (above 0%: growing)	25.54%	11.12%	Compare
HEI Heico Corporation	$36.7B	51.0×	55.0×	+23.13% (above 0%: growing)	+33.07% (above 0%: growing)	+47.74% (above 0%: growing)	41.12%	25.14%	Compare
HEI.A Heico Corporation	$36.6B	38.3×	55.0×	+23.13% (above 0%: growing)	+33.07% (above 0%: growing)	+47.74% (above 0%: growing)	41.12%	25.14%	Compare
ESLT Elbit Systems Ltd.	$34.8B	55.2×	53.2×	+15.94% (above 0%: growing)	+34.42% (above 0%: growing)	+113.91% (above 0%: growing)	25.32%	9.57%	Compare
Median of peers	$53.7B	36.4×	41.8×	+19.24%	+32.38%	+42.89%	31.44%	18.75%

All 82 Aerospace & Defense stocks →

Northrop Grumman Corporation (NOC) key facts

Strength: Northrop Grumman Corporation’s revenue for fiscal 2025 (year ended December 2025) was $42.0 billion, up 2.24% from fiscal 2024.
Northrop Grumman Corporation (NOC) is an Aerospace & Defense company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, NOC traded at $519.86, a market capitalization of $71.0 billion.
Northrop Grumman Corporation pays an annual dividend of $9.56 per share, a yield of 1.84%, with a payout ratio of 30.4%.
Return on equity was 26.2% and debt-to-equity 0.81.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.01 (safe zone) for fiscal 2025.