N 
Northrop Grumman NOC · USD
Industrials · Aerospace & Defense · US listing · 🇺🇸 United States
S&P 500
539.07
+2.68%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$41.95bn
FY2016FY2025
Net income
$4.18bn
FY2016FY2025
Free cash flow
$3.31bn
FY2016FY2025
Shareholders' equity
$16.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.95bn | $41.03bn | $39.29bn | $36.60bn | $35.67bn | $36.80bn | $33.84bn | $30.09bn | $25.80bn | $24.51bn |
| Research and development | $1.10bn | $1.10bn | $1.20bn | $1.20bn | $1.10bn | $1.10bn | $953.0m | $764.0m | $639.0m | $705.0m |
| Operating income | $4.95bn | $4.99bn | $2.54bn | $4.11bn | $6.21bn | $4.07bn | $3.97bn | $3.78bn | $3.30bn | $3.19bn |
| Net income | $4.18bn | $4.17bn | $2.06bn | $4.90bn | $7.00bn | $3.19bn | $2.25bn | $3.23bn | $2.02bn | $2.20bn |
| Diluted earnings per share | 29.27 | 28.34 | 13.61 | 31.69 | 43.67 | 19.12 | 13.40 | 18.99 | 11.56 | 12.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $51.38bn | $49.36bn | $46.54bn | $43.76bn | $42.58bn | $44.47bn | $41.09bn | $37.65bn | $34.92bn | $25.61bn |
| Cash and short-term investments | $4.40bn | $4.35bn | $3.11bn | $2.58bn | $3.53bn | $4.91bn | $2.25bn | $1.58bn | $11.22bn | $2.54bn |
| Total liabilities | $34.70bn | $34.07bn | $31.75bn | $28.44bn | $29.65bn | $33.89bn | $32.27bn | $29.47bn | $27.87bn | $20.36bn |
| Debt | $15.70bn | $16.27bn | $13.86bn | $12.88bn | $12.78bn | $15.00bn | $13.88bn | $14.40bn | $15.27bn | $7.06bn |
| Shareholders' equity | $16.67bn | $15.29bn | $14.79bn | $15.31bn | $12.93bn | $10.58bn | $8.82bn | $8.19bn | $7.05bn | $5.26bn |
| Shares outstanding | 143m | 147m | 151m | 155m | 160m | 167m | 168m | 170m | 174m | 175m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.76bn | $4.39bn | $3.88bn | $2.90bn | $3.57bn | $4.30bn | $4.30bn | $3.83bn | $2.61bn | $2.81bn |
| Capital spending | −$1.45bn | −$1.77bn | −$1.77bn | −$1.44bn | −$1.42bn | −$1.42bn | −$1.26bn | −$1.25bn | −$928.0m | −$920.0m |
| Free cash flow | $3.31bn | $2.62bn | $2.10bn | $1.47bn | $2.15bn | $2.88bn | $3.03bn | $2.58bn | $1.69bn | $1.89bn |
| Dividends paid | −$1.29bn | −$1.19bn | −$1.12bn | −$1.05bn | −$983.0m | −$953.0m | −$880.0m | −$821.0m | −$689.0m | −$640.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.88bn | $9.88bn | $11.71bn | $10.42bn | $10.35bn | $9.47bn | $10.69bn | $10.00bn |
| Operating income | $1.10bn | $989.0m | $1.22bn | $1.40bn | $1.60bn | $729.0m | $1.25bn | $1.28bn |
| Net income | $1.09bn | $875.0m | $1.43bn | $1.10bn | $1.17bn | $481.0m | $1.26bn | $1.03bn |
| Diluted earnings per share | 7.68 | 6.14 | 9.99 | 7.70 | 8.22 | 3.37 | 8.58 | 6.97 |
| Cash from operations | $1.28bn | −$1.66bn | $3.90bn | $1.56bn | $868.0m | −$1.56bn | $2.58bn | $1.09bn |
| Capital spending | −$302.0m | −$167.0m | −$662.0m | −$301.0m | −$231.0m | −$256.0m | −$816.0m | −$361.0m |
| Free cash flow | $978.0m | −$1.82bn | $3.23bn | $1.26bn | $637.0m | −$1.82bn | $1.76bn | $730.0m |
| Total assets | $50.76bn | $50.01bn | $51.38bn | $49.30bn | $49.45bn | $48.47bn | $49.36bn | $48.29bn |
| Cash and short-term investments | $2.31bn | $2.09bn | $4.40bn | $1.96bn | $1.90bn | $1.69bn | $4.35bn | $3.33bn |
| Debt | — | $15.17bn | $16.03bn | $15.70bn | $15.71bn | $14.77bn | $16.60bn | $16.28bn |
| Shareholders' equity | $17.88bn | $17.11bn | $16.67bn | $15.99bn | $15.47bn | $14.98bn | $15.29bn | $14.75bn |
Financial ratios
Data as of 9 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 11.8% | 12.2% | 6.5% | 11.2% | 17.4% | 11.0% |
| Net margin | 10.0% | 10.2% | 5.2% | 13.4% | 19.6% | 8.7% |
| Return on equity | 25.1% | 27.3% | 13.9% | 32.0% | 54.2% | 30.1% |
| Return on assets | 8.1% | 8.5% | 4.4% | 11.2% | 16.5% | 7.2% |
| Free cash flow yield | 8.4% | 8.1% | 7.2% | 5.4% | 6.0% | 6.6% |
| Revenue growth | 2.2% | 4.4% | 7.3% | 2.6% | -3.1% | 8.7% |
| Earnings growth | 0.2% | 103.0% | -58.0% | -30.1% | 119.7% | 41.9% |
| Current ratio | 1.09x | 1.00x | 1.13x | 1.06x | 1.28x | 1.58x |
| Debt to equity | 0.96x | 1.09x | 0.96x | 0.86x | 1.01x | 1.44x |
| Equity ratio | 32.5% | 31.0% | 31.8% | 35.0% | 30.4% | 23.8% |
| Interest coverage | 7.44x | 8.04x | 4.66x | 8.12x | 11.16x | 6.85x |
| R&D as a share of sales | 2.6% | 2.7% | 3.1% | 3.3% | 3.1% | 3.0% |
| Buybacks as a share of market value | 3.0% | 2.5% | 2.2% | 3.7% | 3.8% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.7% | 2.7% | 6.0% |
| Operating income | 6.4% | 4.0% | 4.9% |
| Net income | -5.1% | 5.6% | 7.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 12.0% | 10.4% | 11.6% | 12.0% |
| Net margin | 10.1% | 9.6% | 11.0% | 10.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.5 | 16.6 | 34.4 | 17.2 | 8.9 | 15.9 | 25.7 | 12.9 | 26.6 | 18.5 |
| Price to sales | 1.9 | 1.7 | 1.8 | 2.3 | 1.7 | 1.4 | 1.7 | 1.4 | 2.1 | 1.7 |
Market value over time
31 Oct 2016 to 8 Sept 2026, in USD
$41.13bn$73.85bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 20% | 1% | -13% | 44% | 24% | -14% | 42% | -21% | 30% | 25% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 31 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 7.25 | 8.99 | 8.05 | 7.34 | 6.76 | 6.16 | 5.67 | 5.16 |
- 2-for-1 split · 22 Jun 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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