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Northrop Grumman Corporation

NOC Industrials Aerospace & Defense

Northrop Grumman Corporation’s revenue for fiscal 2025 (year ended December 2025) was $42.0 billion, up 2.24% from fiscal 2024.

Revenue
+6.71%
EPS
+2.86%
Free cash flow
+44.1%
Total debt
−4.81%

Quarter to September 2026, against a year earlier

524.83 0.52 −0.10%
Market cap
$74.6B
P/E
16.5×
Fwd P/E
18.7×
Dividend yield
1.82%
F-score
6/9
Altman Z
3.01
Beneish M
−2.42
Dividend safety
82/100
Overview Business Profile Earnings & Analysis
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Northrop Grumman Corporation (NOC) Debt to equity

Alert me on Debt to equity

Northrop Grumman Corporation's debt to equity at the end of the quarter to 30 September 2026 was 0.8×, down 0.1× from fiscal 2025 (0.9×). Over the past ten years it has ranged from 0.8× (fiscal 2022) to 2.0× (fiscal 2017); the current reading is higher than 18% of that period. That is above the Aerospace & Defense industry median of 0.2× and above the Industrials sector median of 0.3×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.9× (5.37%)
FY2024 1.0× 3.12%
FY2023 0.9× 20.86%
FY2022 0.8× (22.00%)
FY2021 1.0× (26.67%)
FY2020 1.3× (6.91%)
FY2019 1.4× (14.61%)
FY2018 1.7× (16.01%)
FY2017 2.0× 50.43%
FY2016 1.3× 16.05%

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.8× (4.25%)
Jun 2026 0.8× (4.18%)
Mar 2026 0.8× (7.40%)
Dec 2025 0.9× (4.11%)
43 more quarters

Against its own ten years

Low 0.8× High 2.0×
Ten-year median 1.2×
Current reading's percentile 18

Debt to equity against peers

Company Debt to equity
HONA Honeywell Aerospace inc. compare −6.4×
TDG Transdigm Group Incorporated compare −3.3×
GD General Dynamics Corporation compare 0.3×
HEI.A Heico Corporation compare 0.5×
HEI Heico Corporation compare 0.5×
LHX L3Harris Technologies Inc compare 0.5×
HWM Howmet Aerospace Inc. compare 0.7×
NOC Northrop Grumman Corporation 0.8×
LMT Lockheed Martin Corporation compare 2.0×
Aerospace & Defense industry median 0.2×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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