Northrop Grumman Corporation — NOC

Close PriceMarket CapP/E RatioForward P/E RatioImplied Growth*Implied Forward Growth*DividendP/B Ratio
$563.68$80.06B17.718.710.3%10.9%$9.40
1.7%		4.7

Latest Headlines

Revenue & Net Income

Revenue & Net Income
Date Revenue Net_Income EPS Last_Updated Revenue_Change Net_Income_Change EPS_Change
0 2020-12-31 $36,799M $3,189M $19.08 2024-02-09 04:07:16 N/A N/A N/A
1 2021-12-31 $35,667M $7,005M $43.70 2024-02-09 04:07:16 -3.1% 119.7% 129.0%
2 2022-12-31 $36,602M $4,896M $31.61 2026-05-29 09:12:38 2.6% -30.1% -27.7%
3 2023-12-31 $39,290M $2,056M $13.57 2026-05-29 09:12:38 7.3% -58.0% -57.1%
4 2024-12-31 $41,033M $4,174M $28.39 2026-05-29 09:12:38 4.4% 103.0% 109.2%
5 2025-12-31 $41,954M $4,182M $29.14 2026-05-29 09:12:38 2.2% 0.2% 2.6%
6 TTM 2026-03-31 $42,367M $4,576M $31.88 2026-04-22 08:42:05 1.0% 9.4% 9.4%

EPS

EPS

Forecasts

Revenue/Net Income Forecast EPS Forecast

Y/Y % Change

Revenue YoY Change EPS YoY Change
YoY Growth Rates

NOC Year-over-Year Growth

  2020 2021 2022 2023 2024 2025 2026 2027 Average
Revenue Growth (%) -3.1% 2.6% 7.3% 4.4% 2.2% 4.8% 6.5% 3.5%
Revenue Analysts (#) 0 0 0 0 0 0 21 21
EPS Growth (%) 119.7% -30.1% -58.0% 103.0% 0.2% -5.1% 7.9% 19.7%
EPS Analysts (#) 0 0 0 0 0 0 21 21

Forward Estimate History

How the next-FY EPS and revenue estimates have drifted over time. One line per fiscal year – past lines end when that FY became current.

Forward EPS projection history by FY Forward revenue projection history by FY

Expenses

Revenue vs Expenses
Year Revenue ($) Cost of Revenue ($) G&A ($) SG&A ($) Facilities / D&A ($)
2021 $35.7B $27.2B $3.6B $3.6B $1.2B
2022 $36.6B $27.8B $3.9B $3.9B $1.3B
2023 $39.3B $31.4B $4.0B $4.0B $1.3B
2024 $41.0B $31.3B $4.0B $4.0B $1.4B
2025 $42.0B $32.2B $4.0B $4.0B $1.5B
TTM $42.4B $32.2B $4.0B $4.0B $1.5B
Expenses % of Revenue
Year Revenue Change (%) Cost of Revenue Change (%) G&A Change (%) SG&A Change (%) Facilities / D&A Change (%)
2022 2.62 2.30 7.67 7.67 8.31
2023 7.34 13.01 3.64 3.64 -0.30
2024 4.44 -0.32 -0.55 -0.55 2.39
2025 2.24 2.77 1.03 1.03 7.45
TTM 0.98 -0.01 -0.89 -0.89 2.38
No unmapped expenses.

Segment Performance

axis1_NOC_Product.png axis1_NOC_Service.png axis1_NOC_B21_Program_L_R_I_P_Option1.png axis1_NOC_B21_Program_L_R_I_P_Options12.png axis1_NOC_H_A_L_O_Program.png axis1_NOC_Restricted_Microelectronics_Portfolio.png axis1_NOC_Sentinel_E_M_D_Phase.png
SEGMENTS v2025-09-09 · 2026-05-29 09:12 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue and operating income for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
Year Prod Rev Prod OI Services Rev Services OI B21 Program L R I P Option1 Rev B21 Program L R I P Option1 OI B21 Program L R I P Options12 Rev B21 Program L R I P Options12 OI H A L O Program Rev H A L O Program OI Restricted Microelectronics Portfolio Rev Restricted Microelectronics Portfolio OI Sentinel E M D Phase Rev Sentinel E M D Phase OI Total Rev Total OI
2023 30.9B – 8.39B – – -0.14B – – – -0.10B – – – – 39.3B -0.24B
2024 32.7B – 8.31B – – – – – – 0.04B – – – – 41B 0.04B
2025 33.7B – 8.21B – – – – 0.35B – – – 0.14B – 0.08B 42B 0.56B
TTM 81.9B 0.00B 20.4B 0.00B – – – – – – – – – – 102.3B 0.00B
% of Total (TTM) 80.1% — 19.9% — – — – — – — – — – — 100% —

Segment Performance (Axis 2)

axis2_NOC_Aeronautics_Systems.png axis2_NOC_Mission_Systems.png axis2_NOC_Space_Systems.png axis2_NOC_Defense_Systems.png
SEGMENTS v2025-09-09 · 2026-05-29 09:12 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue and operating income for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
Year Aeronautics Systems Rev Aeronautics Systems OI Mission Systems Rev Mission Systems OI Space Systems Rev Space Systems OI Defense Systems Rev Defense Systems OI Total Rev Total OI
2023 89.5B -0.41B 88.2B 1.78B 95.5B 1.18B 57.6B 0.70B 330.8B 3.25B
2024 99.3B 1.25B 92.4B 1.78B 94.3B 1.30B 59.4B 0.74B 345.3B 5.06B
2025 104.1B 0.83B 101.5B 2.05B 86.7B 1.24B 64.2B 0.90B 356.5B 5.01B
TTM 246.1B 2.20B 233.5B 4.62B 216.3B 3.05B 149.5B 2.00B 845.4B 11.9B
% of Total (TTM) 29.1% — 27.6% — 25.6% — 17.7% — 100% —

Balance Sheet

Balance Sheet
  Metric Value
0 Total Assets $50,007M
1 Cash $2,090M
2 Total Liabilities $32,892M
3 Total Debt $16,316M
4 Total Equity $17,115M
5 Debt to Equity Ratio 0.95

EPS & Dividend

EPS & Dividend

Valuation

Valuation
Share Price Treasury Yield Estimates Fair Value (P/E) Fair Value (P/S) Current P/S Current P/E
$563.68 4.5% Nicks Growth: 2%
Nick's Expected Margin: 10%
FINVIZ Growth: 7%		 Nicks: 8
Finviz: 13		 Nick's: 0.780 1.9 17.7
Basis Year Nicks Valuation Nicks vs Share Price Finviz Valuation Finviz vs Share Price
$31.88 EPS TTM $248.69 -55.9% $426.24 -24.4%
$27.94 EPS 2026 $217.97 -61.3% $373.60 -33.7%
$30.14 EPS 2027 $235.10 -58.3% $402.96 -28.5%

Implied Growth

Implied Growth
Average Median Std Dev Current Percentile
TTM Forward TTM Forward TTM Forward TTM Forward TTM Forward
Timeframe
1 Year 11.78% 11.44% 11.89% 11.54% 0.63% 0.58% 10.24% 10.83% 5.2% 20.1%
3 Years 11.78% 11.44% 11.89% 11.54% 0.63% 0.58% 10.24% 10.83% 5.2% 20.1%
5 Years 11.78% 11.44% 11.89% 11.54% 0.63% 0.58% 10.24% 10.83% 5.2% 20.1%
10 Years 11.78% 11.44% 11.89% 11.54% 0.63% 0.58% 10.24% 10.83% 5.2% 20.1%

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