Saturday 31 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.

559.06 3.30 −0.59%

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Market cap: $79.9B
P/E: 17.7×
Fwd P/E: 18.5×
Dividend yield: 1.71%
F-score: 6/9
Altman Z: 3.01
Beneish M: −2.42
Dividend safety: 82/100

Overview Business Profile Financial Analysis Segments Filings

Northrop Grumman Corporation (NOC) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Aeronautics Systems	12,992	30.97%
Mission Systems	12,506	29.81%
Space Systems	10,771	25.67%
Defense Systems	8,002	19.07%
Gross margin		19.81%
Operating margin		10.75%
Pre-tax margin		12.08%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Product	33,741 80.42%	32,726 79.76%	30,897 78.64%	28,522 77.92%	27,868 78.13%	27,015 73.41%	23,852 70.48%	20,469 68.01%	16,364 62.93%	15,080 61.04%
Service	8,213 19.58%	8,307 20.24%	8,393 21.36%	8,080 22.08%	7,799 21.87%	9,784 26.59%	9,989 29.52%	9,626 31.99%	9,640 37.07%	9,626 38.96%
Revenue	41,954	41,033	39,290	36,602	35,667	36,799	33,841	30,095	26,004	24,706

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Product	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Service	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2010	FY2009	FY2008
Aeronautics Systems	12,992 30.97%	12,396 30.21%	11,164 28.41%	10,531 28.77%	11,259 31.57%	12,169 33.07%	11,116 32.85%	10,293 34.20%	—	—	—	—	—	—	—	—	—
Mission Systems	12,506 29.81%	11,399 27.78%	10,895 27.73%	10,396 28.40%	10,134 28.41%	10,080 27.39%	9,410 27.81%	8,949 29.74%	11,470 44.11%	11,161 45.18%	10,674 45.37%	11,001 45.88%	—	—	—	—	—
Space Systems	10,771 25.67%	11,731 28.59%	11,873 30.22%	10,570 28.88%	10,608 29.74%	8,744 23.76%	7,425 21.94%	5,845 19.42%	—	—	—	—	—	—	—	—	—
Defense Systems	8,002 19.07%	7,399 18.03%	7,185 18.29%	7,629 20.84%	5,776 16.19%	7,543 20.50%	7,495 22.15%	6,612 21.97%	—	—	—	—	—	—	—	—	—
Aerospace Systems	—	—	—	—	—	—	—	—	12,131 46.65%	10,853 43.93%	9,940 42.25%	9,910 41.33%	10,014 40.61%	9,977 39.56%	10,436 37.08%	10,419 37.68%	9,825 30.40%
Technology Services	—	—	—	—	—	—	—	—	4,687 18.02%	4,765 19.29%	4,819 20.48%	4,902 20.44%	—	—	—	—	—
Innovation Systems	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—	—	—	—	—
Electronic Systems	—	—	—	—	—	—	—	—	—	—	—	—	7,149 28.99%	6,950 27.56%	7,613 27.05%	7,671 27.74%	7,048 21.81%
Information Systems	—	—	—	—	—	—	—	—	—	—	—	—	6,596 26.75%	7,356 29.17%	8,395 29.83%	8,536 30.87%	8,174 25.29%
Technical Services	—	—	—	—	—	—	—	—	—	—	—	—	2,843 11.53%	3,019 11.97%	3,705 13.16%	2,776 10.04%	2,535 7.84%
Transferred from Aerospace Systems to Technical Services	—	—	—	—	—	—	—	—	—	—	—	—	—	—	474 1.68%	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(2,006) (7.13%)	(1,752) (6.34%)	—
Shipbuilding	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	6,145 19.02%
Eliminations	(2,317) (5.52%)	(1,892) (4.61%)	(1,827) (4.65%)	(2,524) (6.90%)	(2,110) (5.92%)	(1,737) (4.72%)	(1,605) (4.74%)	(1,604) (5.33%)	(2,284) (8.78%)	(2,073) (8.39%)	(1,907) (8.11%)	(1,834) (7.65%)	(1,941) (7.87%)	(2,084) (8.26%)	(474) (1.68%)	—	(1,412) (4.37%)
Revenue	41,954	41,033	39,290	36,602	35,667	36,799	33,841	30,095	26,004	24,706	23,526	23,979	24,661	25,218	28,143	27,650	32,315

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2010	FY2009	FY2008
Mission Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Space Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Defense Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aeronautics Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aerospace Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Technology Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Innovation Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electronic Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Information Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Technical Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Transferred from Aerospace Systems to Technical Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Subtotal Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Shipbuilding	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
United States	35,964 85.72%	36,033 87.81%	34,385 87.52%	31,754 86.75%	30,685 86.03%	31,611 85.90%	28,687 84.77%	25,661 85.27%	22,552 86.73%	21,411 86.66%
Europe	3,286 7.83%	2,837 6.91%	2,455 6.25%	2,252 6.15%	2,107 5.91%	2,082 5.66%	1,833 5.42%	1,514 5.03%	—	—
Asia/Pacific	1,919 4.57%	1,552 3.78%	1,568 3.99%	1,802 4.92%	1,939 5.44%	1,968 5.35%	1,836 5.43%	1,666 5.54%	1,461 5.62%	1,212 4.91%
All other	785 1.87%	611 1.49%	882 2.24%	794 2.17%	936 2.62%	1,138 3.09%	1,485 4.39%	1,254 4.17%	1,991 7.66%	2,083 8.43%
Revenue	41,954	41,033	39,290	36,602	35,667	36,799	33,841	30,095	26,004	24,706

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Net awards	Q3 FY2026	$16.4B	$12.2B	+34.43%
Remaining performance obligations	Q3 FY2026	$109.6B	$91.4B	+19.91%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.