NORTHROP GRUMMAN CORP /DE/ NOC

Technology SIC 3812 - Search, Detection, Navigation, Guidance, Aeronautical Sys NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing derived NYSE

Northrop Grumman Corporation (herein referred to as "Northrop Grumman," the "company," "we," "us," or "our") is a leading global aerospace and defense technology company. We deliver a broad range of products, services and solutions to U.S. and international customers, and principally to the U.S. Department of War ("DoW") and intelligence community. Our broad portfolio is aligned to support national security priorities and our solutions equip our customers with capabilities they need to connect, protect and advance humanity.

The company is a leading provider of space systems, military aircraft, missile defense, advanced weapons and long-range fires capabilities, mission systems, networking and communications, strategic deterrence systems, and breakthrough technologies, such as advanced computing, microelectronics and cyber. We are focused on competing and winning programs that enable continued growth, performing on our commitments and affordably delivering capability our customers need. With the investments we've made in advanced technologies, combined with our talented workforce and digital transformation capabilities, Northrop Grumman is well positioned to meet our customers' needs today and in the future. For a discussion of risks associated with our operations, see "Risk Factors."

Last close 551.44 2026-10-23
Market cap $78.34B 2026-06-30 share count
52-week range 470.06 - 774.00

Valuation FY2025 figures against the last close

P/S1.9x
P/E19.0x
P/FCF23.7x
EV/EBITDA15.0x
Dividend yield1.7%
Diluted EPS29.08

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Europe
  • Asia/Pacific
  • All Other
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 36B (85.7%) 86% United States Europe, FY2025: 3.3B (7.8%) 8% Europe Asia/Pacific, FY2025: 1.9B (4.6%) 5% All Other, FY2025: 785M (1.9%) FY2024 United States, FY2024: 36B (87.8%) 88% Europe, FY2024: 2.8B (6.9%) 7% Asia/Pacific, FY2024: 1.6B (3.8%) 4% All Other, FY2024: 611M (1.5%) FY2023 United States, FY2023: 34.4B (87.5%) 88% Europe, FY2023: 2.5B (6.2%) 6% Asia/Pacific, FY2023: 1.6B (4.0%) 4% All Other, FY2023: 882M (2.2%)
Region FY2025FY2024FY2023
United States $35.96B $36.03B $34.38B
Europe $3.29B $2.84B $2.46B
Asia/Pacific $1.92B $1.55B $1.57B
All Other $785.0M $611.0M $882.0M

As the company reported it, from the “Segment Information Sales by Geographic Location (Details 4)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $41.95B$41.03B$39.29B$36.60B$35.67B$36.80B$33.84B$30.09B$26.00B$24.71B
Cost of revenue ————————$7.58B$7.73B
Gross profit ————————$18.43B$16.98B
R&D $1.10B$1.10B$1.20B$1.20B$1.10B$1.10B$953.0M$764.0M$639.0M$705.0M
SG&A $4.03B$3.99B$4.01B$3.87B$3.60B$3.41B$3.29B$3.01B$2.71B$2.63B
Total operating expenses $37.67B$36.66B$36.75B$33.00B$32.00B$32.73B$29.87B———
Operating income $4.51B$4.37B$2.54B$3.60B$5.65B$4.07B$3.97B$3.78B$3.22B$3.28B
Pre-tax income $5.07B$5.02B$2.35B$5.84B$8.94B$3.73B$2.55B$3.74B$4.23B$2.68B
Income tax $886.0M$842.0M$290.0M$940.0M$1.93B$539.0M$300.0M$513.0M$1.36B$638.0M
Net income $4.18B$4.17B$2.06B$4.90B$7.00B$3.19B$2.25B$3.23B$2.87B$2.04B
EPS, basic 29.1428.3913.5731.6143.7019.0813.2818.5916.4511.42
EPS, diluted 29.0828.3413.5331.4743.5419.0313.2218.4916.3411.32
Shares, diluted (wtd. avg.) 143.8M147.3M152.0M155.6M160.9M167.6M170.0M174.6M175.6M180.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.40B$4.35B$3.11B$2.58B$3.53B$4.91B$2.25B$1.58B$11.22B$2.54B
Receivables $1.38B$1.27B$1.45B$1.51B$1.47B$1.50B$1.33B$1.45B$1.05B—
Inventory $1.31B$1.46B$1.11B$978.0M$811.0M$759.0M$783.0M$654.0M$398.0M$816.0M
Total current assets $15.29B$14.27B$13.71B$12.49B$12.43B$15.34B$10.69B$9.68B$16.59B$6.86B
Property, plant and equipment $10.97B$10.54B$9.65B$8.80B$7.89B$7.07B$6.91B$6.37B$4.22B$3.59B
Goodwill $17.44B$17.51B$17.52B$17.52B$17.52B$17.52B$18.71B$18.67B$12.46B$12.45B
Other intangibles $208.0M$254.0M$305.0M$384.0M$578.0M$783.0M$1.04B$1.37B$52.0M$61.0M
Total assets $51.38B$49.36B$46.54B$43.76B$42.58B$44.47B$41.09B$37.65B$35.13B$25.61B
Accounts payable $3.24B$2.60B$2.11B$2.59B$2.20B$1.81B$2.23B$2.18B$1.66B$1.55B
Short-term debt $534.0M$1.58B$70.0M$1.07B$6.0M$742.0M$1.11B$517.0M$867.0M$12.0M
Total current liabilities $13.88B$14.13B$11.94B$11.59B$9.53B$9.58B$9.43B$8.27B$7.09B$5.63B
Long-term debt $15.16B$14.69B$13.79B$11.80B$12.78B$14.26B$12.77B$14.40B$15.27B$7.07B
Total liabilities $34.70B$34.07B$31.75B$28.44B$29.65B$33.89B$32.27B$29.47B$28.00B$20.36B
Retained earnings $16.66B$15.30B$14.77B$15.31B$12.91B$10.48B$8.75B$8.07B$6.91B$10.63B
Total equity $16.67B$15.29B$14.79B$15.31B$12.93B$10.58B$8.82B$8.19B$7.13B$5.36B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $4.76B$4.39B$3.88B$2.90B$3.57B$4.30B$4.30B$3.83B$2.61B$2.81B
Depreciation and amortisation $1.47B$1.37B$1.34B$1.34B$1.24B$1.27B$1.26B$800.0M$475.0M$456.0M
Stock-based compensation $119.0M$101.0M$87.0M$99.0M$94.0M$90.0M$127.0M$86.0M$94.0M$93.0M
Capital expenditure $1.45B$1.77B$1.77B$1.44B$1.42B$1.42B$1.26B$1.25B$928.0M$920.0M
Investing cash flow -$1.16B-$1.75B-$1.58B-$1.24B$2.06B-$1.21B-$1.21B-$8.88B-$889.0M-$805.0M
Financing cash flow -$3.55B-$1.40B-$1.76B-$2.61B-$7.00B-$432.0M-$2.42B-$4.59B$6.96B-$1.79B
Dividends paid $1.29B$1.19B$1.12B$1.05B$983.0M$953.0M$880.0M$821.0M$689.0M$640.0M
Buybacks $1.62B$2.51B$1.50B$1.50B$3.71B$490.0M$744.0M$1.26B$393.0M$1.55B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001133421-26-000003.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20B 40B 60B Revenue, FY2016: 24.7B Gross profit, FY2016: 17B Net income, FY2016: 2B Revenue, FY2017: 26B Gross profit, FY2017: 18.4B Net income, FY2017: 2.9B Revenue, FY2018: 30.1B Net income, FY2018: 3.2B Revenue, FY2019: 33.8B Net income, FY2019: 2.2B Revenue, FY2020: 36.8B Net income, FY2020: 3.2B Revenue, FY2021: 35.7B Net income, FY2021: 7B Revenue, FY2022: 36.6B Net income, FY2022: 4.9B Revenue, FY2023: 39.3B Net income, FY2023: 2.1B Revenue, FY2024: 41B Net income, FY2024: 4.2B Revenue, FY2025: 42B Net income, FY2025: 4.2B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $24.71B $26.00B $30.09B $33.84B $36.80B $35.67B $36.60B $39.29B $41.03B $41.95B
Gross profit $16.98B $18.43B — — — — — — — —
Net income $2.04B $2.87B $3.23B $2.25B $3.19B $7.00B $4.90B $2.06B $4.17B $4.18B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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