Northrop Grumman Corporation (NOC) reported $43.59B of revenue for the twelve months ended Sep 30, 2026. That is up 6.5% from the year before. Revenue for fiscal 2025 was $41.95B.

Yes. Northrop Grumman Corporation earned $4.52B in net income for the twelve months ended Sep 30, 2026, a net margin of 10.4%.

How much cash and debt does NOC have?

Northrop Grumman Corporation reported $3.74B in cash and cash equivalents and $15.20B of debt on its most recent balance sheet in SEC filings.

How fast is NOC revenue growing?

Northrop Grumman Corporation's revenue changed +2.2% in fiscal 2025, to $41.95B. Its compound annual growth rate was +2.7% over 5 years and +6.0% over 10 years.

What is NOC free cash flow?

Northrop Grumman Corporation generated $3.83B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $5.27B less capital expenditures.

What is NOC earnings per share?

Diluted earnings per share were $31.65 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did NOC last report financial results?

The latest statements here come from Northrop Grumman Corporation's 10-Q filed on Oct 20, 2026, covering the period ended Sep 30, 2026.

Financials · NOC

Northrop Grumman Corporation (NOC) financials

For the twelve months ended Sep 30, 2026, Northrop Grumman Corporation reported $43.59B of revenue and $4.52B of net income.

Revenue, TTM: $43.59B
Revenue growth, YoY: +6.5%
Net income, TTM: $4.52B
Net income growth, YoY: +12.5%
Net margin: 10.4%
Free cash flow, TTM: $3.83B
EPS, diluted, TTM: $31.65
EPS growth, YoY: +13.8%
Cash: $3.74B
Total debt: $15.20B
P/E: 16.51
P/S: 1.71
Market cap: $74.62B

Annual revenue$41.95B

FY2016FY2025

Annual net income$4.18B

FY2016FY2025

Annual free cash flow$3.31B

FY2016FY2025

NOC revenue and earnings growth

NOC revenueQ3 2026$11.12B

Quarter YoY: +6.7%
QoQ: +2.3%
FY YoY: +2.2%
5Y CAGR: +2.7%
10Y CAGR: +6.0%

NOC revenue was $11.12B in fiscal Q3 2026 (ended Sep 30, 2026), up 6.7% from a year earlier and up 2.3% from the prior quarter. For the full fiscal 2025 it was $41.95B, up 2.2% from fiscal 2024. Compound annual growth was +2.7% over 5 years and +6.0% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

NOC net incomeQ3 2026$1.12B

Quarter YoY: +2.2%
QoQ: +2.7%
FY YoY: +0.2%
5Y CAGR: +5.6%
10Y CAGR: +7.7%

NOC net income was $1.12B in fiscal Q3 2026 (ended Sep 30, 2026), up 2.2% from a year earlier and up 2.7% from the prior quarter. For the full fiscal 2025 it was $4.18B, up 0.2% from fiscal 2024. Compound annual growth was +5.6% over 5 years and +7.7% over 10 years. It rose in 7 of the last 10 fiscal years.

NOC EPSQ3 2026$7.89

Quarter YoY: +2.9%
QoQ: +2.7%
FY YoY: +2.6%
5Y CAGR: +8.9%
10Y CAGR: +10.8%

NOC diluted EPS was $7.89 in fiscal Q3 2026 (ended Sep 30, 2026), up 2.9% from a year earlier and up 2.7% from the prior quarter. For the full fiscal 2025 it was $29.08, up 2.6% from fiscal 2024. Compound annual growth was +8.9% over 5 years and +10.8% over 10 years.

NOC free cash flowQ3 2026$1.44B

Quarter YoY: +14.6%
QoQ: +47.1%
FY YoY: +26.2%
5Y CAGR: +2.8%
10Y CAGR: +6.9%

NOC free cash flow was $1.44B in fiscal Q3 2026 (ended Sep 30, 2026), up 14.6% from a year earlier and up 47.1% from the prior quarter. For the full fiscal 2025 it was $3.31B, up 26.2% from fiscal 2024. Compound annual growth was +2.8% over 5 years and +6.9% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$41.95B	$41.03B	$39.29B	$36.60B	$35.67B	$36.80B	$33.84B	$30.09B	$26.00B	$24.71B
Cost of revenue	-	-	-	-	-	-	-	-	$12.27B	$11.00B
Gross profit	-	-	-	-	-	-	-	-	$13.73B	$13.70B
Research and development	$1.10B	$1.10B	$1.20B	$1.20B	$1.10B	$1.10B	$953.00M	$764.00M	$639.00M	$705.00M
Selling, general and admin	$4.03B	$3.99B	$4.01B	$3.87B	$3.60B	$3.41B	$3.29B	$3.01B	$2.71B	$2.63B
Operating income	$4.51B	$4.37B	$2.54B	$3.60B	$5.65B	$4.07B	$3.97B	$3.78B	$3.22B	$3.28B
Pre-tax income	$5.07B	$5.02B	$2.35B	$5.84B	$8.94B	$3.73B	$2.55B	$3.74B	$4.23B	$2.68B
Income tax	$886.00M	$842.00M	$290.00M	$940.00M	$1.93B	$539.00M	$300.00M	$513.00M	$1.36B	$638.00M
Net income	$4.18B	$4.17B	$2.06B	$4.90B	$7.00B	$3.19B	$2.25B	$3.23B	$2.87B	$2.04B
EPS, basic	$29.14	$28.39	$13.57	$31.61	$43.70	$19.08	$13.28	$18.59	$16.45	$11.42
EPS, diluted	$29.08	$28.34	$13.53	$31.47	$43.54	$19.03	$13.22	$18.49	$16.34	$11.32
Diluted shares	143.8M	147.3M	152.0M	155.6M	160.9M	167.6M	170.0M	174.6M	175.6M	180.5M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$4.40B	$4.35B	$3.11B	$2.58B	$3.53B	$4.91B	$2.25B	$1.58B	$11.22B	$2.54B
Receivables	$1.38B	$1.27B	$1.45B	$1.51B	$1.47B	$1.50B	$1.33B	$1.45B	$1.05B	-
Inventory	$1.31B	$1.46B	$1.11B	$978.00M	$811.00M	$759.00M	$783.00M	$654.00M	$398.00M	$816.00M
Current assets	$15.29B	$14.27B	$13.71B	$12.49B	$12.43B	$15.34B	$10.69B	$9.68B	$16.59B	$6.86B
Goodwill	$17.44B	$17.51B	$17.52B	$17.52B	$17.52B	$17.52B	$18.71B	$18.67B	$12.46B	$12.45B
Total assets	$51.38B	$49.36B	$46.54B	$43.76B	$42.58B	$44.47B	$41.09B	$37.65B	$35.13B	$25.61B
Current liabilities	$13.88B	$14.13B	$11.94B	$11.59B	$9.53B	$9.58B	$9.43B	$8.27B	$7.09B	$5.63B
Short-term debt	$534.00M	$1.58B	$70.00M	$1.07B	$6.00M	$742.00M	$1.11B	$517.00M	$867.00M	$12.00M
Long-term debt	$15.16B	$14.69B	$13.79B	$11.80B	$12.78B	$14.26B	$12.77B	$13.88B	$14.40B	$7.06B
Total debt	$15.70B	$16.27B	$13.86B	$12.88B	$12.78B	$15.00B	$13.88B	$14.40B	$15.27B	$7.07B
Total liabilities	$34.70B	$34.07B	$31.75B	$28.44B	$29.65B	$33.89B	$32.27B	$29.47B	$28.00B	$20.36B
Shareholders' equity	$16.67B	$15.29B	$14.79B	$15.31B	$12.93B	$10.58B	$8.82B	$8.19B	$7.13B	$5.36B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$4.76B	$4.39B	$3.88B	$2.90B	$3.57B	$4.30B	$4.30B	$3.83B	$2.61B	$2.81B
Capital expenditures	$1.45B	$1.77B	$1.77B	$1.44B	$1.42B	$1.42B	$1.26B	$1.25B	$928.00M	$920.00M
Free cash flow	$3.31B	$2.62B	$2.10B	$1.47B	$2.15B	$2.88B	$3.03B	$2.58B	$1.69B	$1.89B
Investing cash flow	-$1.16B	-$1.75B	-$1.58B	-$1.24B	$2.06B	-$1.21B	-$1.21B	-$8.88B	-$889.00M	-$805.00M
Financing cash flow	-$3.55B	-$1.40B	-$1.76B	-$2.61B	-$7.00B	-$432.00M	-$2.42B	-$4.59B	$6.96B	-$1.79B
Dividends paid	$1.29B	$1.19B	$1.12B	$1.05B	$983.00M	$953.00M	$880.00M	$821.00M	$689.00M	$640.00M
Share repurchases	$1.62B	$2.51B	$1.50B	$1.50B	$3.71B	$490.00M	$744.00M	$1.26B	$393.00M	$1.55B
Stock-based compensation	$119.00M	$101.00M	$87.00M	$99.00M	$94.00M	$90.00M	$127.00M	$86.00M	$94.00M	$93.00M
Depreciation and amortization	$1.47B	$1.37B	$1.34B	$1.34B	$1.24B	$1.27B	$1.26B	$800.00M	$475.00M	$456.00M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	2.2%	4.4%	7.3%	2.6%	-3.1%	8.7%	12.4%	15.7%	5.3%	5.0%
Net income growth, YoY	0.2%	103.0%	-58.0%	-30.1%	119.7%	41.9%	-30.4%	12.5%	40.4%	2.7%
EPS growth, YoY	2.6%	109.5%	-57.0%	-27.7%	128.8%	43.9%	-28.5%	13.2%	44.3%	9.0%
Gross margin	-	-	-	-	-	-	-	-	52.8%	55.5%
Operating margin	10.8%	10.6%	6.5%	9.8%	15.8%	11.0%	11.7%	12.6%	12.4%	13.3%
Net margin	10.0%	10.2%	5.2%	13.4%	19.6%	8.7%	6.6%	10.7%	11.0%	8.3%
Free cash flow margin	7.9%	6.4%	5.3%	4.0%	6.0%	7.8%	9.0%	8.6%	6.5%	7.7%
Return on equity	25.1%	27.3%	13.9%	32.0%	54.2%	30.1%	25.5%	39.4%	40.2%	38.1%
Return on assets	8.1%	8.5%	4.4%	11.2%	16.5%	7.2%	5.5%	8.6%	8.2%	8.0%
Current ratio	1.10	1.01	1.15	1.08	1.30	1.60	1.13	1.17	2.34	1.22
Debt to equity	0.94	1.06	0.94	0.84	0.99	1.42	1.57	1.76	2.14	1.32

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$11.12B	$10.88B	$9.88B	$11.71B	$10.42B	$10.35B	$9.47B	$10.69B	$10.00B	$10.22B	$10.13B	$10.64B
Selling, general and admin	$1.08B	$1.02B	$971.00M	$1.02B	$985.00M	$1.02B	$1.01B	$843.00M	$986.00M	$1.10B	$1.06B	$878.00M
Operating income	$1.27B	$1.10B	$989.00M	$1.27B	$1.24B	$1.43B	$573.00M	$1.09B	$1.12B	$1.09B	$1.07B	-$393.00M
Pre-tax income	$1.30B	$1.17B	$1.03B	$1.74B	$1.32B	$1.43B	$578.00M	$1.55B	$1.19B	$1.15B	$1.13B	-$757.00M
Income tax	$174.00M	$74.00M	$155.00M	$313.00M	$223.00M	$253.00M	$97.00M	$287.00M	$162.00M	$206.00M	$187.00M	-$222.00M
Net income	$1.12B	$1.09B	$875.00M	$1.43B	$1.10B	$1.17B	$481.00M	$1.26B	$1.03B	$940.00M	$944.00M	-$535.00M
EPS, basic	$7.91	$7.70	$6.16	$9.95	$7.69	$8.17	$3.33	$8.66	$7.02	$6.37	$6.34	-$3.50
EPS, diluted	$7.89	$7.68	$6.14	$9.94	$7.67	$8.15	$3.32	$8.66	$7.00	$6.36	$6.32	-$3.49
Diluted shares	142.4M	142.4M	142.5M	-	143.5M	144.0M	144.9M	-	146.5M	147.7M	149.3M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$3.74B	$2.31B	$2.09B	$4.40B	$1.96B	$1.90B	$1.69B	$4.35B	$3.33B	$3.27B	$3.06B	$3.11B
Receivables	$2.08B	$2.31B	$1.81B	$1.38B	$1.98B	$2.20B	$1.80B	$1.27B	$1.61B	$1.69B	$1.83B	$1.45B
Inventory	$1.36B	$1.42B	$1.45B	$1.31B	$1.61B	$1.55B	$1.58B	$1.46B	$1.65B	$1.50B	$1.37B	$1.11B
Current assets	$16.98B	$15.59B	$14.77B	$15.29B	$14.11B	$14.03B	$13.27B	$14.27B	$14.33B	$14.27B	$14.80B	$13.71B
Goodwill	$17.44B	$17.44B	$17.44B	$17.44B	$17.44B	$17.43B	$17.43B	$17.51B	$17.52B	$17.52B	$17.52B	$17.52B
Total assets	$52.50B	$50.76B	$50.01B	$51.38B	$49.30B	$49.45B	$48.47B	$49.36B	$48.29B	$47.67B	$47.82B	$46.54B
Current liabilities	$13.75B	$13.35B	$12.82B	$13.88B	$12.72B	$13.46B	$13.97B	$14.13B	$13.10B	$12.91B	$13.13B	$11.94B
Short-term debt	$764.00M	$763.00M	$758.00M	$534.00M	$533.00M	$551.00M	$605.00M	$1.58B	$1.59B	$1.59B	$1.58B	$70.00M
Long-term debt	$14.43B	$14.43B	$14.41B	$15.16B	$15.16B	$15.16B	$14.17B	$14.69B	$14.69B	$14.71B	$14.74B	$13.79B
Total debt	$15.20B	$15.19B	$15.17B	$15.70B	$15.70B	$15.71B	$14.77B	$16.27B	$16.28B	$16.30B	$16.32B	$13.86B
Total liabilities	$33.81B	$32.88B	$32.89B	$34.70B	$33.31B	$33.98B	$33.48B	$34.07B	$33.54B	$33.37B	$33.59B	$31.75B
Shareholders' equity	$18.68B	$17.88B	$17.11B	$16.67B	$15.99B	$15.47B	$14.98B	$15.29B	$14.75B	$14.30B	$14.22B	$14.79B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$1.75B	$1.28B	-$1.66B	$3.90B	$1.56B	$868.00M	-$1.56B	$2.58B	$1.09B	$1.43B	-$706.00M	$2.43B
Capital expenditures	$306.00M	$302.00M	$167.00M	$662.00M	$301.00M	$231.00M	$256.00M	$816.00M	$361.00M	$320.00M	$270.00M	$803.00M
Free cash flow	$1.44B	$978.00M	-$1.82B	$3.23B	$1.26B	$637.00M	-$1.82B	$1.76B	$730.00M	$1.10B	-$976.00M	$1.63B
Investing cash flow	$50.00M	-$196.00M	-$168.00M	-$664.00M	-$300.00M	$61.00M	-$252.00M	-$798.00M	-$361.00M	-$321.00M	-$269.00M	-$770.00M
Financing cash flow	-$358.00M	-$867.00M	-$489.00M	-$787.00M	-$1.20B	-$715.00M	-$851.00M	-$753.00M	-$676.00M	-$893.00M	$927.00M	-$633.00M
Dividends paid	$351.00M	$351.00M	$333.00M	$329.00M	$330.00M	$332.00M	$302.00M	$299.00M	$301.00M	$303.00M	$283.00M	$282.00M
Share repurchases	$0	$0	$68.00M	$456.00M	$277.00M	$411.00M	$480.00M	$441.00M	$321.00M	$562.00M	$1.19B	$346.00M
Stock-based compensation	$26.00M	$29.00M	$20.00M	$54.00M	$25.00M	$20.00M	$20.00M	$29.00M	$26.00M	$26.00M	$20.00M	$23.00M
Depreciation and amortization	$379.00M	$367.00M	$372.00M	$406.00M	$379.00M	$350.00M	$337.00M	$414.00M	$331.00M	$326.00M	$299.00M	$400.00M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	6.7%	5.1%	4.4%	9.6%	4.3%	1.3%	-6.6%	0.5%	2.3%	6.7%	8.9%	6.0%
Net income growth, YoY	2.2%	-6.8%	81.9%	12.9%	7.2%	24.9%	-49.0%	-	9.5%	15.8%	12.1%	-
EPS growth, YoY	2.9%	-5.8%	84.9%	14.8%	9.6%	28.1%	-47.5%	-	13.3%	19.1%	14.9%	-
Operating margin	11.4%	10.1%	10.0%	10.9%	11.9%	13.8%	6.1%	10.2%	11.2%	10.7%	10.6%	-3.7%
Net margin	10.1%	10.1%	8.9%	12.2%	10.6%	11.3%	5.1%	11.8%	10.3%	9.2%	9.3%	-5.0%
Free cash flow margin	12.9%	9.0%	-18.4%	27.6%	12.1%	6.2%	-19.2%	16.5%	7.3%	10.8%	-9.6%	15.3%
Current ratio	1.23	1.17	1.15	1.10	1.11	1.04	0.95	1.01	1.09	1.11	1.13	1.15
Debt to equity	0.81	0.85	0.89	0.94	0.98	1.02	0.99	1.06	1.10	1.14	1.15	0.94

Source: XBRL data Northrop Grumman Corporation files with the SEC, latest filing dated Oct 20, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NOC peers

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BABoeing Company	$94.91B	+17.5%	$7.66B	8.1%	$136.70B
LMTLockheed Martin Corporation	$79.12B	+7.9%	$6.51B	8.2%	$133.10B

NOC FAQ

8 questions

What is NOC revenue?
Northrop Grumman Corporation (NOC) reported $43.59B of revenue for the twelve months ended Sep 30, 2026. That is up 6.5% from the year before. Revenue for fiscal 2025 was $41.95B.
Is NOC profitable?
Yes. Northrop Grumman Corporation earned $4.52B in net income for the twelve months ended Sep 30, 2026, a net margin of 10.4%.
How much cash and debt does NOC have?
Northrop Grumman Corporation reported $3.74B in cash and cash equivalents and $15.20B of debt on its most recent balance sheet in SEC filings.
How fast is NOC revenue growing?
Northrop Grumman Corporation's revenue changed +2.2% in fiscal 2025, to $41.95B. Its compound annual growth rate was +2.7% over 5 years and +6.0% over 10 years.
What is NOC free cash flow?
Northrop Grumman Corporation generated $3.83B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $5.27B less capital expenditures.
What is NOC earnings per share?
Diluted earnings per share were $31.65 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did NOC last report financial results?
The latest statements here come from Northrop Grumman Corporation's 10-Q filed on Oct 20, 2026, covering the period ended Sep 30, 2026.
Where does this NOC financial data come from?
Quantisnow builds these statements from the structured XBRL data Northrop Grumman Corporation files with the SEC. It is provided for information only and is not investment advice.