Northrop Grumman CorpNorthrop Grumman Corp
Northrop Grumman Corp

Northrop Grumman Corp

NOC
Industrials·Aerospace & Defense

Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S. Air Force, the U.S. Navy, other U.S. government agencies, and international customers. The Defense Systems segment includes integrated battle management systems, weapons systems and aircraft, and mission systems sustainment and modernization. The Mission Systems segment offers advanced mission solutions and multifunction systems, primarily for the U.S. defense and intelligence community, and international customers. The Space Systems segment delivers end-to-end mission solutions through the design, development, integration, production and operation of space, missile defense, launch and strategic missile systems for national security, civil government, commercial, and international customers. The company was founded by John K. Northrop, Thomas V. Jones, and Kent Kresa in 1939 and is headquartered in Falls Church, VA.

Virginia; U.S.A
Market cap
$68.8BNo data
Revenue
$42B+2.2% YoY
Net income
$4.2B+0.2% YoY
Free cash flow
$3.3B+26.2% YoY

Market

Listed stock
Tokenized stocks
NOCPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$42B+2.2% YoY
Operating income
$4.5B+3.2% YoY
Net income
$4.2B+0.2% YoY
Free cash flow
$3.3B+26.2% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $35.7B, 2022 $36.6B, 2023 $39.3B, 2024 $41B, 2025 $42B. Operating income: 2021 $5.7B, 2022 $3.6B, 2023 $2.5B, 2024 $4.4B, 2025 $4.5B. Net income: 2021 $7B, 2022 $4.9B, 2023 $2.1B, 2024 $4.2B, 2025 $4.2B. Free cash flow: 2021 $2.2B, 2022 $1.5B, 2023 $2.1B, 2024 $2.6B, 2025 $3.3B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
2.2%−219 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $5.7B, 2022-12-31 $3.6B, 2023-12-31 $2.5B, 2024-12-31 $4.4B, 2025-12-31 $4.5B. Net income: 2021-12-31 $7B, 2022-12-31 $4.9B, 2023-12-31 $2.1B, 2024-12-31 $4.2B, 2025-12-31 $4.2B. Free cash flow: 2021-12-31 $2.2B, 2022-12-31 $1.5B, 2023-12-31 $2.1B, 2024-12-31 $2.6B, 2025-12-31 $3.3B

Growth heatmap

2022202320242025CAGR
Revenue
+2.6%
+7.3%
+4.4%
+2.2%
+4.1%
Gross profit
+2.5%
+7.5%
+4.4%
+2.2%
+4.1%
Operating income
-36.3%
-29.5%
+72.3%
+3.2%
-5.5%
Free cash flow
-31.9%
+43.2%
+24.8%
+26.2%
+11.3%

Earnings quality

Operating cash flow
$4.8B+8.4% YoY
Net income
$4.2B+0.2% YoY
Free cash flow
$3.3B+26.2% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 114%, 2024-12-31 105%, 2023-12-31 188%, 2022-12-31 59%, 2021-12-31 51%. Free cash flow: 2025-12-31 79%, 2024-12-31 63%, 2023-12-31 102%, 2022-12-31 30%, 2021-12-31 31%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data