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
Northrop Grumman Corporation's free cash flow for fiscal 2025 was $3.3B, up 26.2% from $2.6B in fiscal 2024. Over the twelve months to 30 June 2026 it was $3.6B. Over the past ten years it has ranged from $1.6B (fiscal 2022) to $3.3B (fiscal 2025) — the current reading is the highest in ten years. Free cash flow has risen for 3 consecutive fiscal years. Northrop Grumman Corporation ranks 5th of 82 Aerospace & Defense companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $3.3B | 26.17% |
| FY2024 | $2.6B | 24.81% |
| FY2023 | $2.1B | 29.55% |
| FY2022 | $1.6B | (27.50%) |
| FY2021 | $2.2B | (27.64%) |
| FY2020 | $3.1B | 1.88% |
| FY2019 | $3.0B | 17.65% |
| FY2018 | $2.6B | 53.00% |
| FY2017 | $1.7B | (10.99%) |
| FY2016 | $1.9B | 11.95% |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | $978.0M | — |
| Mar 2026 | −$1.8B | — |
| Dec 2025 | $3.2B | 157.56% |
| Sep 2025 | $1.3B | 97.17% |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| LMT Lockheed Martin Corporation compare | $8.7B |
| GD General Dynamics Corporation compare | $6.4B |
| NOC Northrop Grumman Corporation | $3.6B |
| LHX L3Harris Technologies Inc compare | $2.8B |
| HWM Howmet Aerospace Inc. compare | $2.0B |
| TDG Transdigm Group Incorporated compare | $1.9B |
| HEI Heico Corporation compare | $1.0B |
| HEI.A Heico Corporation compare | $1.0B |
| ESLT Elbit Systems Ltd. compare | $683.5M |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Operating cash flow
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- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
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- Return on equity
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- Piotroski F-score
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