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. 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.
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Northrop Grumman Corporation (NOC) Free cash flow margin
Northrop Grumman Corporation's free cash flow margin over the twelve months to 30 June 2026 was 8.50%, up 0.6 percentage points from fiscal 2025 (7.88%). Over the past ten years it has ranged from 4.43% (fiscal 2022) to 8.96% (fiscal 2019); the current reading is higher than 73% of that period. That is above the Aerospace & Defense industry median of 1.43% and above the Industrials sector median of 2.43%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | 7.88% | 1.49 |
| FY2024 | 6.39% | 1.05 |
| FY2023 | 5.34% | 0.91 |
| FY2022 | 4.43% | (1.84) |
| FY2021 | 6.27% | (2.13) |
| FY2020 | 8.40% | (0.56) |
| FY2019 | 8.96% | 0.39 |
| FY2018 | 8.57% | 2.09 |
| FY2017 | 6.48% | (1.18) |
| FY2016 | 7.66% | 0.47 |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| HWM Howmet Aerospace Inc. compare | 22.1% |
| HEI Heico Corporation compare | 19.9% |
| HEI.A Heico Corporation compare | 19.9% |
| TDG Transdigm Group Incorporated compare | 19.3% |
| LHX L3Harris Technologies Inc compare | 12.2% |
| GD General Dynamics Corporation compare | 11.8% |
| LMT Lockheed Martin Corporation compare | 11.3% |
| NOC Northrop Grumman Corporation | 8.50% |
| ESLT Elbit Systems Ltd. compare | 8.00% |
| Aerospace & Defense industry median | 1.43% |
| Industrials sector median | 2.43% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on NOC
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement