Northrop Grumman Corporation NOC
- Market cap
- $72.4B
- P/E
- 16.2×
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Northrop Grumman Corporation (NOC) Price to free cash flow
As of 25 September 2026, Northrop Grumman Corporation (NOC) trades at a price to free cash flow of 19.9×. Over the past ten years it has ranged from 12.5× (October 2020) to 167× (September 2022); the current reading is higher than 27% of that period. That is below the Aerospace & Defense industry median of 34.0× and in line with the Industrials sector median of 20.6×.
Price to free cash flow, daily
Annual
| Period | Price to free cash flow | Change |
|---|---|---|
| FY2025 | 24.7× | (5.99%) |
| FY2024 | 26.3× | (22.39%) |
| FY2023 | 33.9× | (34.32%) |
| FY2022 | 51.6× | 86.07% |
| FY2021 | 27.7× | 68.40% |
| FY2020 | 16.5× | (14.18%) |
| FY2019 | 19.2× | 16.36% |
| FY2018 | 16.5× | (47.77%) |
| FY2017 | 31.6× | 42.32% |
| FY2016 | 22.2× | 4.97% |
Quarterly
| Period | Price to free cash flow | Change |
|---|---|---|
| Jun 2026 | 19.9× | (32.33%) |
| Mar 2026 | 29.3× | 18.55% |
| Dec 2025 | 24.7× | (47.96%) |
| Sep 2025 | 47.5× | (13.45%) |
| 42 more quarters | Free account |
Against its own ten years
Price to free cash flow against peers
| Company | Price to free cash flow |
|---|---|
| RKLB Rocket Lab Corporation compare | n/m |
| LMT Lockheed Martin Corporation compare | 13.7× |
| GD General Dynamics Corporation compare | 14.1× |
| LHX L3Harris Technologies Inc compare | 15.8× |
| NOC Northrop Grumman Corporation | 19.9× |
| HEI.A Heico Corporation compare | 31.5× |
| TDG Transdigm Group Incorporated compare | 33.2× |
| HEI Heico Corporation compare | 41.8× |
| HWM Howmet Aerospace Inc. compare | 46.1× |
| Aerospace & Defense industry median | 34.0× |
| Industrials sector median | 20.6× |
| Market median | 14.0× |
What Price to free cash flow is
Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.
Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))
More on NOC
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- EV/EBITDA
- EV/Sales
- 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
- The full statement