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Northrop Grumman Corporation(NOC)Earnings, Financials & Key Ratios
NOC•NYSE
$549.04
18.9× P/E·Price updated Jul 7, 2026
AboutNorthrop Grumman Corporation operates as an aerospace and defense company worldwide. 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, and produces weapons and mission systems. It offers products and services, such as integrated battle management systems, weapons systems and aircraft, and mission systems. This segment also provides command and control and weapons systems, including munitions and missiles; precision strike weapons; propulsion, such as air-breathing and hypersonic systems; gun systems and precision munitions; life cycle service and support for software, weapons systems, and aircraft; and logistics support, sustainment, operation, and modernization for air, sea, and ground systems. The company's Mission Systems segment offers cyber, 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. This segment also provides airborne multifunction sensors; maritime/land systems and sensors; navigation, targeting, and survivability solutions; and networked information solutions. Its Space Systems segment offers satellites and payloads; ground systems; missile defense systems and interceptors; launch vehicles and related propulsion systems; and strategic missiles. The company was founded in 1939 and is based in Falls Church, Virginia.Show more
- Revenue$41.95B+2.2%
- EBITDA$5.75B+0.2%
- Net Income$4.18B+0.2%
- EPS (Diluted)29.08+2.6%
- Gross Margin19.81%-2.8%
- EBITDA Margin13.71%-2.0%
- Operating Margin10.2%-4.2%
- Net Margin9.97%-2.0%
- ROE26.17%-5.7%
NOC Price & Volume
Northrop Grumman Corporation (NOC) stock price & volume — 10-year historical chart
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Cyclical Deleveraging Amidst Persistent Sentinel Program Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Stable
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Sentinel program execution risk
Key Thesis Takeaways
- Northrop Grumman faces a complex outlook defined by a dramatic shift in capital structure, highlighted by a reduction in total debt from $19.7 billion in 2025Q4 to $1.9 billion in 2026Q1.
- While the company benefits from long-cycle defense programs like the B-21 Raider, investors must weigh this against structural margin volatility and the material execution risks associated with the Sentinel program.
- Future performance will likely hinge on the company's ability to stabilize cash flow, which saw a $1.8 billion outflow in 2026Q1, while navigating the transition from development to full-scale production.
Verdict Logic
while the dramatic reduction in debt to $1.9 billion improves the balance sheet, the negative $1.8 billion free cash flow in 2026Q1 and ongoing Sentinel program execution risks warrant a cautious wait-and-see approach.
NOC Growth Metrics
Northrop Grumman Corporation (NOC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.96%
5 Years2.66%
3 Years4.65%
TTM4.95%
Profit CAGR
10 Years7.71%
5 Years5.57%
3 Years-5.12%
TTM23.31%
EPS CAGR
10 Years10.84%
5 Years8.85%
3 Years-2.6%
TTM26.09%
Return on Capital
10 Years12.81%
5 Years11.91%
3 Years10.63%
Last Year11.77%
NOC Recent Earnings
Northrop Grumman Corporation (NOC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 21, 2026Metric
Actual
Est
EPS
$6.14+1.3%
$6.06
Rev
$9.9B+1.3%
$9.8B
Q1 2026
Jan 27, 2026Metric
Actual
Est
EPS
$7.23+3.6%
$6.98
Rev
$11.7B+0.8%
$11.6B
Q4 2025
Oct 21, 2025Metric
Actual
Est
EPS
$7.67+19.1%
$6.44
Rev
$10.4B-2.7%
$10.7B
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$7.11+2.7%
$6.92
Rev
$10.4B+2.9%
$10.1B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $6.14vs $6.06+1.3% | $9.9Bvs $9.8B+1.3% |
| Q1 2026 | Jan 27, 2026 | $7.23vs $6.98+3.6% | $11.7Bvs $11.6B+0.8% |
| Q4 2025 | Oct 21, 2025 | $7.67vs $6.44+19.1% | $10.4Bvs $10.7B-2.7% |
| Q3 2025 | Jul 22, 2025 | $7.11vs $6.92+2.7% | $10.4Bvs $10.1B+2.9% |
Based on last 12 quarters of dataView full earnings history →
Latest NOC News
Recent stock market news and headlines for Northrop Grumman Corporation (NOC)
Benzinga·5 days ago
Space Stocks And ETFs To Buy—Beyond SpaceXSpace stopped being a government-only game years ago. It's now a real, investable industry – satellites beaming broadband to ships and planes, earth-imaging companies selling data to farms and defense contractors, and launch providers racing to put more payloads into orbit than ever before.
Zacks Investment Research·5 days ago
Is Northrop Grumman Expanding Its Presence in the Missile Market?NOC is strengthening its missile market presence with advanced tactical missiles, defense technologies and next-generation munitions.
Zacks Investment Research·Jun 30, 2026
Is Northrop Grumman Expanding Its Presence in the SEWIP Market?NOC expands its SEWIP role with a $312.3M Navy contract, advancing electronic warfare systems for future naval threat detection and defense.
24/7 Wall Street·Jun 30, 2026
3 Resilient Defense Stocks to Buy NowDefense primes are doing what they were built to do: compound through political noise.
Peers Comparison
Key metrics vs top competitors for Northrop Grumman Corporation (NOC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $549.04 | $77.98B | 18.88 | 2.24% | 9.97% | 26.17% | 1.64% | |
| $535.38 | $123.38B | 24.91 | 5.65% | 6.38% | 74.53% | — | |
| $200.85 | $270.48B | 40.49 | 9.74% | 8.03% | 10.92% | — | |
| $374.64 | $101.31B | 24.23 | 10.13% | 8.07% | 17.41% | — | |
| $231.68 | $182.63B | 93.42 | 34.49% | 2.46% | — | — | |
| $289.46 | $11.4B | 18.81 | 8.23% | 4.71% | 12.05% | — |
Compare NOC vs Peers
Northrop Grumman Corporation (NOC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NOC SEC Filings & Documents
Northrop Grumman Corporation (NOC) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 21, 2026·SEC
Material company update
Apr 21, 2026·SEC
Material company update
Feb 13, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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NOC Frequently Asked Questions
Northrop Grumman Corporation (NOC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Northrop Grumman Corporation's revenue?
Northrop Grumman Corporation (NOC) reported $42.37B in revenue for fiscal year 2025. This represents a 425% increase from $8.07B in 1996.
How fast is Northrop Grumman Corporation growing?
Northrop Grumman Corporation (NOC) grew revenue by 2.2% over the past year. Growth has been modest.
Is NOC profitable?
Yes, Northrop Grumman Corporation (NOC) is profitable, generating $4.58B in net income for fiscal year 2025 (10.0% net margin).
Dividend & Returns
Does NOC pay dividends?
Yes, Northrop Grumman Corporation (NOC) pays a dividend with a yield of 1.64%. This makes it attractive for income-focused investors.
What is NOC's return on equity?
Northrop Grumman Corporation (NOC) has a return on equity (ROE) of 26.2%. This is excellent, indicating efficient use of shareholder capital.
What is Northrop Grumman Corporation's free cash flow?
Northrop Grumman Corporation (NOC) generated $3.31B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.