NOC

MKT CAP:$82B

Northrop Grumman Corporation

Market Cap

$82B

Industrials·Aerospace & Defense·🇺🇸 United States·NYSE

Industrials·Aerospace·🇺🇸·NYSE

Stock Price

$573.13-$12.53 (-2.14%)

Apr 24, 2026

Company Details

Northrop 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 aut...

CEO

Kathy J. Warden

IPO Date

Dec 31, 1981

Website

www.northropgrumman.com

Key Metrics TTM

Revenue

$42.4B

+5.0% YoY

Net Income

$4.6B

EPS (Diluted)

$31.95

Free Cash Flow

$3.3B

Revenue / Share

$297.31

Gross Margin

20.5%

Operating Margin

11.1%

Net Margin

10.8%

FCF Margin

7.8%

P/S

1.9x

P/E

17.8x

Earnings Reports

Q1 2026

Apr 21, 2026

NEW

$9.9B+4.4%EPS $6.14

FY 2025

Jan 27, 2026

$42.0B+2.2%EPS $29.08

Q4 2025

Jan 27, 2026

$11.7B+9.6%EPS $9.99

Q3 2025

Oct 21, 2025

$10.4B+4.3%EPS $7.67

Q2 2025

Jul 22, 2025

$10.4B+1.3%EPS $8.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$8.8B	$2.0B	$954M
Q3 22	$9.0B	$1.8B	$844M
Q4 22	$10.0B	$1.8B	$906M
Q1 23	$9.3B	$2.0B	$947M
Q2 23	$9.6B	$2.0B	$967M
Q3 23	$9.8B	$2.0B	$1.0B
Q4 23	$10.6B	$485M	-$393M
Q1 24	$10.1B	$2.1B	$1.1B
Q2 24	$10.2B	$2.2B	$1.1B
Q3 24	$10.0B	$2.1B	$1.1B
Q4 24	$10.7B	$1.9B	$1.1B
Q1 25	$9.5B	$1.6B	$573M
Q2 25	$10.4B	$2.2B	$1.4B
Q3 25	$10.4B	$2.2B	$1.2B
Q4 25	$11.7B	$2.3B	$1.0B
Q1 26	$9.9B	$2.0B	$989M

Valuation

Quarter	P/S	P/E
Q2 22	2.1x	12.8x
Q3 22	2.1x	13.5x
Q4 22	2.1x	15.4x
Q1 23	1.9x	14.9x
Q2 23	1.8x	14.9x
Q3 23	1.7x	14.3x
Q4 23	1.8x	34.4x
Q1 24	1.7x	32.2x
Q2 24	1.6x	27.8x
Q3 24	1.9x	32.7x
Q4 24	1.7x	16.4x
Q1 25	1.8x	19.8x
Q2 25	1.8x	18.1x
Q3 25	2.1x	21.1x
Q4 25	2.0x	19.7x
Q1 26	2.3x	21.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	-$197M	-$460M
Q3 22	$1.3B	$1.0B
Q4 22	$2.3B	$1.6B
Q1 23	-$702M	-$1.0B
Q2 23	$919M	$615M
Q3 23	$1.2B	$869M
Q4 23	$2.4B	$1.6B
Q1 24	-$706M	-$976M
Q2 24	$1.4B	$1.1B
Q3 24	$1.1B	$730M
Q4 24	$2.6B	$1.8B
Q1 25	-$1.6B	-$1.8B
Q2 25	$868M	$637M
Q3 25	$1.6B	$1.3B
Q4 25	$3.9B	$3.2B
Q1 26	-$1.7B	-$1.8B

Capital Expenditures

Quarter	CapEx
Q2 22	$263M
Q3 22	$296M
Q4 22	$632M
Q1 23	$309M
Q2 23	$304M
Q3 23	$359M
Q4 23	$803M
Q1 24	$270M
Q2 24	$320M
Q3 24	$361M
Q4 24	$816M
Q1 25	$256M
Q2 25	$231M
Q3 25	$301M
Q4 25	$662M
Q1 26	$167M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-3.8%	-3.2%
Q3 22	+2.9%	+5.9%
Q4 22	+16.1%	+15.6%
Q1 23	+5.7%	+5.7%
Q2 23	+8.8%	+9.7%
Q3 23	+9.0%	+7.8%
Q4 23	+6.0%	+20.9%
Q1 24	+8.9%	+8.5%
Q2 24	+6.7%	+6.0%
Q3 24	+2.3%	+1.3%
Q4 24	+0.5%	-13.0%
Q1 25	-6.6%	-1.8%
Q2 25	+1.3%	-2.2%
Q3 25	+4.3%	+3.4%
Q4 25	+9.6%	+11.2%
Q1 26	+4.4%	-0.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$24M	0.3%
Q3 22	$30M	0.3%
Q4 22	$27M	0.3%
Q1 23	$19M	0.2%
Q2 23	$28M	0.3%
Q3 23	$17M	0.2%
Q4 23	$23M	0.2%
Q1 24	$20M	0.2%
Q2 24	$26M	0.3%
Q3 24	$26M	0.3%
Q4 24	$29M	0.3%
Q1 25	$20M	0.2%
Q2 25	$20M	0.2%
Q3 25	$25M	0.2%
Q4 25	$54M	0.5%
Q1 26	$20M	0.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 22	—	$1.0B	—
Q3 22	—	$974M	—
Q4 22	$1.2B	$918M	—
Q1 23	—	$1.0B	—
Q2 23	—	$1.1B	—
Q3 23	—	$1.0B	—
Q4 23	$1.2B	$878M	$289M
Q1 24	—	$1.1B	—
Q2 24	—	$1.1B	—
Q3 24	—	$986M	—
Q4 24	$1.1B	$843M	—
Q1 25	—	$1.0B	—
Q2 25	—	$1.0B	—
Q3 25	—	$985M	—
Q4 25	—	$1.0B	—
Q1 26	—	$971M	—

Revenue by Geography

Quarter	All Other - Geographic Region [Domain]	Asia Pacific	Europe	United States
Q2 22	$183M	$489M	$483M	$7.6B
Q3 22	$198M	$469M	$543M	$7.8B
Q4 22	-$50M	$381M	$723M	$8.7B
Q1 23	$127M	$376M	$547M	$8.1B
Q2 23	$204M	$397M	$601M	$8.4B
Q3 23	$223M	$376M	$640M	$8.5B
Q4 23	$328M	$419M	$667M	$9.3B
Q1 24	$127M	$359M	$676M	$9.0B
Q2 24	$141M	$377M	$667M	$9.0B
Q3 24	$155M	$378M	$685M	$8.8B
Q4 24	$188M	$438M	$809M	$9.3B
Q1 25	$165M	$417M	$704M	$8.2B
Q2 25	$197M	$452M	$752M	$8.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.2B	$0	$1.2B
Q3 22	$1.7B	$0	$1.7B
Q4 22	$2.6B	$0	$2.6B
Q1 23	$2.5B	$0	$2.5B
Q2 23	$3.4B	$0	$3.4B
Q3 23	$2.1B	$0	$2.1B
Q4 23	$3.1B	$0	$3.1B
Q1 24	$3.1B	$0	$3.1B
Q2 24	$3.3B	$0	$3.3B
Q3 24	$3.3B	$0	$3.3B
Q4 24	$4.4B	$0	$4.4B
Q1 25	$1.7B	$0	$1.7B
Q2 25	$1.9B	$0	$1.9B
Q3 25	$2.0B	$0	$2.0B
Q4 25	$4.4B	$0	$4.4B
Q1 26	$2.1B	$0	$2.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	156M	-0.4%	-3.4%
Q3 22	155M	-0.4%	-3.2%
Q4 22	155M	-0.5%	-3.7%
Q1 23	153M	-0.8%	-2.2%
Q2 23	152M	-0.7%	-2.4%
Q3 23	152M	-0.3%	-2.3%
Q4 23	151M	-0.4%	-2.2%
Q1 24	149M	-1.2%	-2.5%
Q2 24	148M	-1.1%	-3.0%
Q3 24	147M	-0.8%	-3.4%
Q4 24	147M	+0.5%	-2.5%
Q1 25	145M	-1.6%	-2.9%
Q2 25	144M	-0.6%	-2.5%
Q3 25	144M	-0.3%	-2.0%
Q4 25	143M	-0.4%	-3.0%
Q1 26	143M	-0.3%	-1.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$100.0K	88K
Q3 22	$101.9K	88K
Q4 22	$105.6K	95K
Q1 23	$97.9K	95K
Q2 23	$100.8K	95K
Q3 23	$102.9K	95K
Q4 23	$105.3K	101K
Q1 24	$100.3K	101K
Q2 24	$101.2K	101K
Q3 24	$99.0K	101K
Q4 24	$110.2K	97K
Q1 25	$97.6K	97K
Q2 25	$106.7K	97K
Q3 25	$107.5K	97K
Q4 25	$123.3K	95K
Q1 26	$104.0K	95K

Revenue / Employee