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Northrop Grumman Corporation

Northrop Grumman Corporation

NYSE•NOC
CEO: Ms. Kathy J. Warden
Sector: Industrials
Industry: Aerospace & Defense
Listing Date: 1981-12-31
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems. Its Defense Systems segment designs, develops, integrates, and produces tactical weapons and missile defense solutions, and provides sustainment, modernization, and training services for manned and unmanned aircraft and electronics systems. It also offers integrated, all-domain command, and control battle management systems, precision strike weapons; high speed air-breathing and hypersonic systems; high-performance gun systems, ammunition, precision munitions and advanced fuzes; aircraft and mission systems logistics support, sustainment, operations and modernization; and warfighter training services. The company's Mission Systems segment offers command, control, communications and computers, intelligence, surveillance, and reconnaissance systems; radar, electro-optical/infrared and acoustic sensors; electronic warfare systems; advanced communications and network systems; cyber solutions; intelligence processing systems; navigation; and maritime power, propulsion, and payload launch systems. Its Space Systems segment offers satellites, spacecraft systems, subsystems, sensors, and payloads; ground systems; missile defense systems and interceptors; launch vehicles and related propulsion systems; and strategic missiles. Northrop Grumman Corporation was founded in 1939 and is based in Falls Church, Virginia.
Contact Information
2980 Fairview Park Drive, Falls Church, VA, 22042, United States
703-280-2900
www.northropgrumman.com
Market Cap
$95.18B
P/E (TTM)
23.7
39
Dividend Yield
1.3%
52W High
$669.68
52W Low
$426.24
52W Range
99%
Rank18Top 5.0%
6.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$10.42B+4.27%
4-Quarter Trend

EPS

$7.69+9.54%
4-Quarter Trend

FCF

$1.26B+72.06%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Earnings Down 5% Net earnings $2.755B for nine months, reflecting 5% decrease versus prior year period results.
Operating Income Stable Total operating income $3.240B, down 1% YTD, driven by segment performance shifts and divestiture.
Divestiture Boosts Income Recorded $231M pre-tax gain from training services divestiture during the second quarter of 2025.
Defense Systems Strong Defense Systems operating income grew 31% to $666M for nine months ended September 30.

Risk Factors

Operating Cash Flow Halved Net cash from operations $860M, down 52% YTD, impacted by $1.0B higher net cash taxes.
B-21 Loss Exposure Remaining B-21 program loss accrual stands at $1.6B recorded in current liabilities as of September 30.
Government Funding Risk Uncertainty remains regarding U.S. government appropriations, potential shutdowns, and budget instability.
Macroeconomic Pressures Inflationary pressures and elevated interest rates may impact government spending priorities globally and costs.

Outlook

New Credit Facility Secured Secured new five-year, $3.0B senior unsecured revolving credit facility in September 2025 for liquidity.
Backlog Conversion Rate Expect 40% of $91.4B total backlog recognized as revenue over the next 12 months period.
Tax Legislation Impact Evaluating OBBBA enactment effects; ETR increased to 17.2% YTD due to research credit changes.
Dividend Policy Shift Increased quarterly common stock dividend 12% to $2.31 per share from previous $2.06 in May 2025.

Peer Comparison

Revenue (TTM)

Lockheed Martin CorporationLMT
$73.35B
+2.9%
General Dynamics CorporationGD
$51.51B
+11.9%
Northrop Grumman CorporationNOC
$40.93B
-0.1%

Gross Margin (Latest Quarter)

TransDigm Group IncorporatedTDG
60.3%
+3.8pp
Emerson Electric Co.EMR
51.9%
+0.6pp
Illinois Tool Works Inc.ITW
44.5%
+1.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
LMT$135.98B32.268.5%36.8%
PH$119.49B32.827.0%33.7%
GD$99.24B23.418.3%17.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.8%
Flat Growth
4Q Net Income CAGR
-4.5%
Stable Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Jan 27, 2026
|
EPS:$6.99
|
Revenue:$11.61B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 21, 2025|
    Revenue: $10.42B+4.3%
    |
    EPS: $7.69+9.5%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 22, 2025|
    Revenue: $10.35B+1.3%
    |
    EPS: $8.17+28.3%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 22, 2025|
    Revenue: $9.47B-6.6%
    |
    EPS: $3.33-47.5%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Jan 30, 2025|
    Revenue: $41.03B+4.4%
    |
    EPS: $28.39+109.2%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 24, 2024|
    Revenue: $10.00B+2.3%
    |
    EPS: $7.02+13.2%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 25, 2024|
    Revenue: $10.22B+6.7%
    |
    EPS: $6.37+19.1%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 25, 2024|
    Revenue: $10.13B+8.9%
    |
    EPS: $6.34+14.9%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Jan 25, 2024|
    Revenue: $39.29B+7.3%
    |
    EPS: $13.57-57.1%
    Beat