NOC FY 2025 Earnings Report — Northrop Grumman Corporation Revenue & Financial Results | Market Cap Arena

Northrop Grumman CorporationNOC

FY 2025 Earnings

Reported January 27, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$42.0B	—	$41.0B	—	2.2%
Op. Income	$4.3B	—	$4.4B	—	-2.1%
Gross Margin	19.8%	—	20.4%	—	-0.6pp
Net Margin	10.0%	—	10.2%	—	-0.2pp
EPS (Diluted)	$29.08	—	$28.34	—	2.6%
Free Cash Flow	$3.3B	—	$2.6B	—	26.2%

Revenue Flow

Item	Amount
REVENUE	$42.0B
Cost of Revenue	$33.6B
GROSS PROFIT	$8.3B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$4.0B
SG&A Expenses	$4.0B
Other Expenses	-$1.1B
Operating Expenses	$4.0B
Cost & Expenses	$37.7B
OPERATING INCOME	$4.3B
Interest Income	$0
Interest Expense	$665M
Other Income/Expenses	$788M
INCOME BEFORE TAX	$5.1B
Income Tax Expense	$886M
Net Income from Continuing Ops	$4.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.2B
D&A	$1.5B
EBIT	$5.7B
EBITDA	$7.2B
EPS	$29
EPS Diluted	$29

Income Statement

Item	Amount
REVENUE	$42.0B
Cost of Revenue	$33.6B
GROSS PROFIT	$8.3B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$4.0B
SG&A Expenses	$4.0B
Other Expenses	-$1.1B
Operating Expenses	$4.0B
Cost & Expenses	$37.7B
OPERATING INCOME	$4.3B
Interest Income	$0
Interest Expense	$665M
Other Income/Expenses	$788M
INCOME BEFORE TAX	$5.1B
Income Tax Expense	$886M
Net Income from Continuing Ops	$4.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.2B
D&A	$1.5B
EBIT	$5.7B
EBITDA	$7.2B
EPS	$29
EPS Diluted	$29

Cash Flow Statement

Item	Amount
Net Income	$4.2B
Depreciation & Amortization	$1.5B
Stock-Based Compensation	$119M
Deferred Income Tax	$548M
Other Non-Cash Items	-$701M
Change in Working Capital	-$863M
OPERATING CASH FLOW	$4.8B
Capital Expenditure	-$1.4B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$295M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$502M
Common Stock Repurchased	-$1.6B
Common Dividends Paid	-$1.3B
Other Financing Activities	-$133M
NET CASH FROM FINANCING	-$3.6B
FREE CASH FLOW	$3.3B
Net Change in Cash	$50M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.4B
Short-Term Investments	$0
Net Receivables	$8.8B
Inventory	$1.3B
Other Current Assets	$543M
TOTAL CURRENT ASSETS	$15.1B
PP&E (Net)	$12.8B
Goodwill	$17.4B
Intangible Assets	$208M
Long-Term Investments	$483M
Tax Assets	$1.1B
Other Non-Current Assets	$4.3B
TOTAL NON-CURRENT ASSETS	$36.3B
TOTAL ASSETS	$51.4B
Account Payables	$3.2B
Short-Term Debt	$865M
Deferred Revenue	$4.1B
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$13.9B
Long-Term Debt	$17.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.9B
TOTAL NON-CURRENT LIABILITIES	$20.8B
TOTAL LIABILITIES	$34.7B
Common Stock	$142M
Additional Paid-In Capital	$0
Retained Earnings	$16.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$126M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.7B
Minority Interest	$0
TOTAL EQUITY	$16.7B
TOTAL LIABILITIES & EQUITY	$51.4B
Total Debt	$19.7B
Net Debt	$15.3B