Northrop Grumman (NOC) Financials

$478.87 +3.55 (+0.75%)

As of 01:06 PM Eastern

Annual Income Statements for Northrop Grumman

This table shows Northrop Grumman's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	4,174	2,056	4,896	7,005	3,189	2,248	3,229	2,869	2,043	1,990
Consolidated Net Income / (Loss)	4,174	2,056	4,896	7,005	3,189	2,248	3,229	2,869	2,043	1,990
Net Income / (Loss) Continuing Operations	4,174	2,056	4,896	7,005	3,189	2,248	3,229	2,869	2,043	1,990
Total Pre-Tax Income	5,016	2,346	5,836	8,938	3,728	2,548	3,742	4,229	2,681	2,790
Total Operating Income	4,370	2,537	3,601	5,651	4,065	3,969	3,780	3,218	3,277	3,076
Total Gross Profit	8,362	6,551	7,474	7,268	7,478	7,259	6,791	5,930	5,909	5,642
Total Revenue	41,033	39,290	36,602	35,667	36,799	33,841	30,095	26,004	24,706	23,526
Operating Revenue	41,033	39,290	36,602	35,667	36,799	33,841	30,095	26,004	24,706	23,526
Total Cost of Revenue	32,671	32,739	29,128	28,399	29,321	26,582	23,304	20,074	18,797	17,884
Operating Cost of Revenue	32,671	32,739	29,128	28,399	29,321	26,582	23,304	20,074	18,797	17,884
Total Operating Expenses	3,992	4,014	3,873	1,617	3,413	3,290	3,011	2,712	2,632	2,566
Selling, General & Admin Expense	3,992	4,014	3,873	3,597	3,413	3,290	3,011	2,712	2,632	2,566
Total Other Income / (Expense), net	646	-191	2,235	3,268	-337	-1,421	-38	1,011	-596	-286
Interest Expense	621	967	506	556	1,627	528	562	360	301	301
Other Income / (Expense), net	1,267	776	2,741	3,824	1,290	-893	524	1,371	-295	15
Income Tax Expense	842	290	940	1,933	539	300	513	1,360	638	800
Basic Earnings per Share	$28.39	$13.57	$31.61	$43.70	$19.08	$13.28	$18.59	$16.45	$11.42	$10.51
Weighted Average Basic Shares Outstanding	147M	151.50M	154.90M	160.30M	167.10M	169.30M	173.70M	174.40M	178.90M	189.40M
Diluted Earnings per Share	$28.34	$13.53	$31.47	$43.54	$19.03	$13.22	$18.49	$16.34	$11.32	$10.39
Weighted Average Diluted Shares Outstanding	147.30M	152M	155.60M	160.90M	167.60M	170M	174.60M	175.60M	180.50M	191.60M
Weighted Average Basic & Diluted Shares Outstanding	144.76M	150.04M	153.05M	312.20M	333.44M	167.64M	-6.09B	176.10M	182.60M	189.30M
Cash Dividends to Common per Share	$8.05	$7.34	$6.76	$6.16	$5.67	$5.16	$4.70	$3.90	$3.50	$3.10

This table shows Northrop Grumman's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	481	1,264	1,026	940	944	-535	937	812	842	2,080	915
Consolidated Net Income / (Loss)	481	1,264	1,026	940	944	-535	937	812	842	2,080	915
Net Income / (Loss) Continuing Operations	481	1,264	1,026	940	944	-535	937	812	842	2,080	915
Total Pre-Tax Income	578	1,551	1,188	1,146	1,131	-757	1,118	987	998	2,452	1,090
Total Operating Income	573	1,089	1,120	1,090	1,071	-393	1,016	967	947	906	844
Total Gross Profit	1,580	1,932	2,106	2,191	2,133	485	2,041	2,040	1,985	1,824	1,818
Total Revenue	9,468	10,686	9,996	10,218	10,133	10,638	9,775	9,576	9,301	10,033	8,971
Operating Revenue	9,468	10,686	9,996	10,218	10,133	10,638	9,775	9,576	9,301	10,033	8,971
Total Cost of Revenue	7,888	8,754	7,890	8,027	8,000	10,153	7,734	7,536	7,316	8,209	7,153
Operating Cost of Revenue	7,888	8,754	7,890	8,027	8,000	10,153	7,734	7,536	7,316	8,209	7,153
Total Operating Expenses	1,007	843	986	1,101	1,062	878	1,025	1,073	1,038	918	974
Selling, General & Admin Expense	1,007	843	986	1,101	1,062	878	1,025	1,073	1,038	918	974
Total Other Income / (Expense), net	5.00	462	68	56	60	-364	102	20	51	1,546	246
Interest Expense	156	160	161	154	146	550	141	147	129	120	122
Other Income / (Expense), net	161	622	229	210	206	186	243	167	180	1,666	368
Income Tax Expense	97	287	162	206	187	-222	181	175	156	372	175
Basic Earnings per Share	$3.33	$8.66	$7.02	$6.37	$6.34	($3.50)	$6.20	$5.35	$5.52	$13.48	$5.92
Weighted Average Basic Shares Outstanding	144.60M	147M	146.20M	147.50M	148.90M	151.50M	151.20M	151.70M	152.60M	154.90M	154.60M
Diluted Earnings per Share	$3.32	$8.66	$7.00	$6.36	$6.32	($3.49)	$6.18	$5.34	$5.50	$13.42	$5.89
Weighted Average Diluted Shares Outstanding	144.90M	147.30M	146.50M	147.70M	149.30M	152M	151.70M	152.20M	153.20M	155.60M	155.30M
Weighted Average Basic & Diluted Shares Outstanding	143.93M	144.76M	145.70M	146.25M	147.99M	150.04M	150.79M	151.30M	151.86M	153.05M	153.91M
Cash Dividends to Common per Share	$2.06	$2.06	$2.06	$2.06	$1.87	$1.87	$1.87	$1.87	$1.73	$1.73	$1.73

This table details how cash moves in and out of Northrop Grumman's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	1,244	532	-953	-1,377	2,662	666	5,668	8,684	222	-1,544
Net Cash From Operating Activities	4,388	3,875	2,901	3,567	4,305	4,297	3,827	2,613	2,813	2,162
Net Cash From Continuing Operating Activities	4,388	3,875	2,901	3,567	4,305	4,823	3,827	2,613	2,813	2,162
Net Income / (Loss) Continuing Operations	4,174	2,056	4,896	7,005	3,189	2,248	3,229	2,869	2,043	1,990
Consolidated Net Income / (Loss)	4,174	2,056	4,896	7,005	3,189	2,248	3,229	2,869	2,043	1,990
Depreciation Expense	1,370	1,338	1,342	1,239	1,267	1,265	800	475	456	467
Non-Cash Adjustments To Reconcile Net Income	-848	1,613	-2,416	-5,461	-588	1,691	712	-485	918	-40
Changes in Operating Assets and Liabilities, net	-308	-1,132	-921	784	437	-381	-914	-246	-604	-255
Net Cash From Investing Activities	-1,749	-1,582	-1,241	2,058	-1,211	-1,207	-8,878	-889	-805	-431
Net Cash From Continuing Investing Activities	-1,749	-1,582	-1,241	2,058	-1,211	-1,207	6,436	-889	-805	-431
Purchase of Property, Plant & Equipment	-1,767	-1,775	-1,435	-1,415	-1,420	-1,264	-1,249	-928	-920	-471
Sale and/or Maturity of Investments	0.00	197	0.00	0.00	-	-	-	-	-	-
Other Investing Activities, net	18	-4.00	194	73	209	57	28	39	115	40
Net Cash From Financing Activities	-1,395	-1,761	-2,613	-7,002	-432	-2,424	-4,595	6,960	-1,786	-3,275
Net Cash From Continuing Financing Activities	-1,395	-1,761	-2,613	-7,002	-432	-2,424	-4,595	6,960	-1,786	-3,275
Repayment of Debt	-132	-1,088	-7.00	-2,280	-1,162	-506	-2,426	-111	-195	96
Repurchase of Common Equity	-2,514	-1,500	-1,504	-3,705	-490	-744	-1,263	-393	-1,547	-3,182
Payment of Dividends	-1,186	-1,116	-1,052	-983	-953	-880	-821	-689	-640	-603
Issuance of Debt	2,495	1,995	0.00	0.00	2,239	-229	0.00	8,245	749	600
Other Financing Activities, net	-58	-52	-50	-34	-66	-65	-85	-92	-153	-186

This table details how cash moves in and out of Northrop Grumman's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-2,668	1,027	54	211	-48	1,027	-1,302	889	-82	911	497
Net Cash From Operating Activities	-1,565	2,578	1,091	1,425	-706	2,430	1,228	919	-702	2,251	1,335
Net Cash From Continuing Operating Activities	-1,565	2,578	1,091	1,425	-706	2,430	1,228	919	-702	2,251	1,335
Net Income / (Loss) Continuing Operations	481	1,264	1,026	940	944	-535	937	812	842	2,080	915
Consolidated Net Income / (Loss)	481	1,264	1,026	940	944	-535	937	812	842	2,080	915
Depreciation Expense	337	414	331	326	299	400	317	323	298	382	327
Non-Cash Adjustments To Reconcile Net Income	-684	687	-561	-81	-893	1,930	-296	323	-344	-545	-593
Changes in Operating Assets and Liabilities, net	-1,699	213	295	240	-1,056	635	270	-539	-1,498	334	686
Net Cash From Investing Activities	-252	-798	-361	-321	-269	-770	-200	-303	-309	-578	-195
Net Cash From Continuing Investing Activities	-252	-798	-361	-321	-269	-770	-200	-303	-309	-578	-195
Purchase of Property, Plant & Equipment	-256	-816	-361	-320	-270	-803	-359	-304	-309	-632	-296
Sale and/or Maturity of Investments	0.00	-	-	-	0.00	40	157	-	0.00	-	-
Other Investing Activities, net	4.00	18	-	-1.00	1.00	-7.00	2.00	1.00	0.00	54	101
Net Cash From Financing Activities	-851	-753	-676	-893	927	-633	-2,330	273	929	-762	-643
Net Cash From Continuing Financing Activities	-851	-753	-676	-893	927	-633	-2,330	273	929	-762	-643
Repayment of Debt	-1,505	-12	-54	-26	-40	-4.00	-1,826	768	-26	-3.00	-3.00
Repurchase of Common Equity	-480	-441	-321	-562	-1,190	-346	-223	-208	-723	-493	-371
Payment of Dividends	-302	-299	-301	-303	-283	-282	-280	-284	-270	-266	-267
Issuance of Debt	1,474	-	-	-	2,495	-	-	-	1,995	-	-
Other Financing Activities, net	-38	-1.00	-	-2.00	-55	-1.00	-1.00	-3.00	-47	-	-2.00

This table presents Northrop Grumman's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	49,359	46,544	43,755	42,579	44,469	41,089	37,653	35,128	25,614	24,424
Total Current Assets	14,274	13,706	12,488	12,426	15,344	10,685	9,680	16,587	6,856	6,334
Cash & Equivalents	4,353	3,109	2,577	3,530	4,907	2,245	1,579	11,225	2,541	2,319
Accounts Receivable	7,180	7,147	7,494	6,959	6,641	6,660	6,474	4,519	-	-
Inventories, net	1,455	1,109	978	811	759	783	654	398	816	807
Other Current Assets	1,286	2,341	1,439	1,126	1,402	997	973	445	200	367
Plant, Property, & Equipment, net	10,536	9,653	8,800	7,894	7,071	6,912	6,372	4,225	3,588	3,064
Total Noncurrent Assets	24,549	23,185	22,467	22,259	22,054	23,492	21,601	14,316	15,170	15,026
Goodwill	17,512	17,517	17,516	17,515	17,518	18,708	18,672	12,455	12,450	12,460
Intangible Assets	254	305	384	578	783	1,040	1,372	52	-	-
Noncurrent Deferred & Refundable Income Taxes	1,599	1,020	162	200	311	508	94	447	1,462	1,409
Employee Benefit Assets	2,184	1,331	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	3,000	3,012	4,405	3,966	3,442	3,236	1,463	1,362	1,258	1,157
Total Liabilities & Shareholders' Equity	49,359	46,544	43,755	42,579	44,469	41,089	37,653	35,128	25,614	24,424
Total Liabilities	34,069	31,749	28,443	29,653	33,890	32,270	29,466	27,996	20,355	18,902
Total Current Liabilities	14,128	11,942	11,587	9,530	9,580	9,434	8,274	7,092	5,630	5,457
Accounts Payable	2,599	2,110	2,587	2,197	1,806	2,226	2,182	1,661	1,554	1,282
Current Deferred Revenue	4,070	4,193	3,609	3,026	2,517	2,237	1,917	1,761	1,471	1,537
Current Employee Benefit Liabilities	2,271	2,251	2,057	1,993	1,997	1,865	1,676	1,382	1,342	1,195
Other Current Liabilities	5,188	3,388	3,334	2,314	3,002	3,106	2,499	2,288	1,263	1,443
Total Noncurrent Liabilities	19,941	19,807	16,856	20,123	24,310	22,836	21,192	20,904	14,725	13,445
Long-Term Debt	14,692	13,786	11,805	12,777	14,261	12,770	13,883	14,399	7,058	6,386
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	0.00	0.00	490	0.00	0.00	108	0.00	-	-
Noncurrent Employee Benefit Liabilities	1,120	1,290	1,188	3,269	6,498	6,979	5,755	5,511	6,818	6,172
Other Noncurrent Operating Liabilities	4,129	4,731	3,863	3,587	3,551	3,087	1,446	994	849	887
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	15,290	14,795	15,312	12,926	10,579	8,819	8,187	7,132	5,259	5,522
Total Preferred & Common Equity	15,290	14,795	15,312	12,926	10,579	8,819	8,187	7,132	5,259	5,522
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	15,290	14,795	15,312	12,926	10,579	8,819	8,187	7,132	5,259	5,522
Common Stock	145	150	153	156	225	168	171	218	175	181
Retained Earnings	15,297	14,773	15,312	12,913	10,482	8,748	8,068	6,913	10,630	10,661
Accumulated Other Comprehensive Income / (Loss)	-152	-128	-153	-143	-128	-97	-52	1.00	-5,546	-5,320

This table presents Northrop Grumman's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	48,468	49,359	48,289	47,670	47,818	46,544	44,896	45,609	44,244	43,755	42,733
Total Current Assets	13,267	14,274	14,332	14,267	14,796	13,706	13,150	13,869	12,810	12,488	12,298
Cash & Equivalents	1,685	4,353	3,326	3,272	3,061	3,109	2,082	3,384	2,495	2,577	1,666
Accounts Receivable	8,662	7,180	1,609	8,128	8,282	7,147	8,034	7,966	8,276	7,494	8,366
Inventories, net	1,578	1,455	1,646	1,504	1,370	1,109	1,355	1,287	1,115	978	989
Other Current Assets	1,342	1,286	7,751	1,363	2,083	2,341	1,679	1,232	924	1,439	1,277
Plant, Property, & Equipment, net	10,522	10,536	10,078	9,771	9,690	9,653	9,173	8,976	8,838	8,800	8,325
Total Noncurrent Assets	24,679	24,549	23,879	23,632	23,332	23,185	22,573	22,764	22,596	22,467	22,110
Goodwill	17,434	17,512	17,517	17,516	17,515	17,517	17,514	17,517	17,516	17,516	17,516
Intangible Assets	242	254	268	282	290	305	324	344	364	384	433
Noncurrent Deferred & Refundable Income Taxes	1,633	1,599	1,407	1,250	1,123	1,020	330	452	234	162	233
Employee Benefit Assets	2,285	2,184	-	-	-	1,331	-	-	-	-	-
Other Noncurrent Operating Assets	3,085	3,000	4,687	4,584	4,404	3,012	4,405	4,451	4,482	4,405	3,928
Total Liabilities & Shareholders' Equity	48,468	49,359	48,289	47,670	47,818	46,544	44,896	45,609	44,244	43,755	42,733
Total Liabilities	33,484	34,069	33,541	33,369	33,595	31,749	28,968	30,123	29,108	28,443	28,790
Total Current Liabilities	13,969	14,128	13,101	12,908	13,132	11,942	10,305	11,557	10,483	11,587	10,812
Accounts Payable	2,501	2,599	2,518	2,352	2,580	2,110	2,260	2,056	2,136	2,587	2,335
Current Deferred Revenue	3,710	4,070	3,157	3,292	3,530	4,193	3,458	3,397	3,211	3,609	3,107
Current Employee Benefit Liabilities	1,598	2,271	1,924	1,903	1,701	2,251	1,927	1,878	1,646	2,057	1,831
Other Current Liabilities	6,160	5,188	5,502	5,361	5,321	3,388	2,660	4,226	3,490	3,334	3,539
Total Noncurrent Liabilities	19,515	19,941	20,440	20,461	20,463	19,807	18,663	18,566	18,625	16,856	17,978
Long-Term Debt	14,167	14,692	14,689	14,706	14,742	13,786	13,793	13,796	13,770	11,805	11,803
Noncurrent Employee Benefit Liabilities	1,115	1,120	1,186	1,211	1,250	1,290	1,147	1,161	1,173	1,188	2,405
Other Noncurrent Operating Liabilities	4,233	4,129	4,565	4,544	4,471	4,731	3,723	3,609	3,682	3,863	3,684
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	14,984	15,290	14,748	14,301	14,223	14,795	15,928	15,486	15,136	15,312	13,943
Total Preferred & Common Equity	14,984	15,290	14,748	14,301	14,223	14,795	15,928	15,486	15,136	15,312	13,943
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	14,984	15,290	14,748	14,301	14,223	14,795	15,928	15,486	15,136	15,312	13,943
Common Stock	144	145	146	146	148	150	151	151	152	153	154
Retained Earnings	14,982	15,297	14,738	14,301	14,218	14,773	15,924	15,485	15,135	15,312	13,955
Accumulated Other Comprehensive Income / (Loss)	-142	-152	-136	-146	-143	-128	-147	-150	-151	-153	-166

This table displays calculated financial ratios and metrics derived from Northrop Grumman's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.44%	7.34%	2.62%	-3.08%	8.74%	12.45%	15.73%	5.25%	5.02%	-1.89%
EBITDA Growth	50.66%	-39.47%	-28.28%	61.79%	52.55%	-14.95%	0.79%	47.29%	-3.37%	-3.34%
EBIT Growth	70.15%	-47.76%	-33.07%	76.94%	74.09%	-28.53%	-6.21%	53.89%	-3.53%	-3.98%
NOPAT Growth	63.55%	-26.40%	-31.79%	27.37%	-0.70%	7.35%	49.41%	-12.58%	13.82%	-2.55%
Net Income Growth	103.02%	-58.01%	-30.11%	119.66%	41.86%	-30.38%	12.55%	40.43%	2.66%	-3.82%
EPS Growth	109.46%	-57.01%	-27.72%	128.80%	43.95%	-28.50%	13.16%	44.35%	8.95%	6.56%
Operating Cash Flow Growth	13.24%	33.57%	-18.67%	-17.14%	0.19%	12.28%	46.46%	-7.11%	30.11%	-16.62%
Free Cash Flow Firm Growth	169.43%	97.46%	-19.45%	-80.97%	-8.25%	167.15%	-518.79%	-28.44%	21.46%	-56.30%
Invested Capital Growth	0.62%	3.80%	10.68%	19.49%	-4.07%	-5.60%	98.83%	5.42%	1.95%	3.14%
Revenue Q/Q Growth	0.12%	1.56%	3.96%	-4.22%	4.22%	1.70%	5.63%	-0.17%	3.78%	-1.73%
EBITDA Q/Q Growth	38.07%	-37.25%	-9.62%	21.94%	41.50%	-17.31%	-20.62%	38.97%	-3.29%	-2.23%
EBIT Q/Q Growth	51.57%	-45.62%	-12.05%	25.78%	56.72%	-24.24%	-25.07%	43.99%	-3.65%	-2.49%
NOPAT Q/Q Growth	43.57%	-31.07%	7.03%	-6.82%	0.04%	8.34%	24.72%	-18.41%	7.24%	-1.84%
Net Income Q/Q Growth	75.75%	-55.98%	-11.40%	51.46%	30.16%	-25.39%	-17.08%	29.47%	-4.26%	-2.31%
EPS Q/Q Growth	75.05%	-55.55%	-10.37%	52.99%	29.81%	-25.31%	-16.79%	29.58%	-3.41%	0.00%
Operating Cash Flow Q/Q Growth	3.49%	4.84%	38.67%	-4.29%	-16.68%	2.07%	25.19%	3.00%	-3.50%	7.08%
Free Cash Flow Firm Q/Q Growth	-14.32%	487.29%	158.32%	-81.33%	-30.91%	81.16%	16.66%	-42.69%	10.03%	-50.34%
Invested Capital Q/Q Growth	-1.85%	-7.84%	1.91%	10.12%	-5.96%	-13.76%	-5.85%	-4.94%	-11.54%	-11.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.38%	16.67%	20.42%	20.38%	20.32%	21.45%	22.57%	22.80%	23.92%	23.98%
EBITDA Margin	17.08%	11.84%	20.99%	30.04%	18.00%	12.83%	16.96%	19.47%	13.92%	15.12%
Operating Margin	10.65%	6.46%	9.84%	15.84%	11.05%	11.73%	12.56%	12.38%	13.26%	13.07%
EBIT Margin	13.74%	8.43%	17.33%	26.57%	14.55%	9.09%	14.30%	17.65%	12.07%	13.14%
Profit (Net Income) Margin	10.17%	5.23%	13.38%	19.64%	8.67%	6.64%	10.73%	11.03%	8.27%	8.46%
Tax Burden Percent	83.21%	87.64%	83.89%	78.37%	85.54%	88.23%	86.29%	67.84%	76.20%	71.33%
Interest Burden Percent	88.98%	70.81%	92.02%	94.33%	69.62%	82.83%	86.94%	92.16%	89.91%	90.26%
Effective Tax Rate	16.79%	12.36%	16.11%	21.63%	14.46%	11.77%	13.71%	32.16%	23.80%	28.67%
Return on Invested Capital (ROIC)	14.23%	8.89%	12.93%	21.75%	18.35%	17.58%	21.18%	21.74%	25.79%	23.23%
ROIC Less NNEP Spread (ROIC-NNEP)	19.35%	7.21%	33.23%	51.66%	15.23%	6.60%	20.76%	39.58%	15.21%	16.58%
Return on Net Nonoperating Assets (RNNOA)	13.52%	4.77%	21.74%	37.86%	14.53%	8.86%	20.97%	24.57%	12.11%	7.96%
Return on Equity (ROE)	27.75%	13.66%	34.68%	59.60%	32.88%	26.44%	42.16%	46.31%	37.90%	31.20%
Cash Return on Invested Capital (CROIC)	13.62%	5.16%	2.80%	3.99%	22.51%	23.34%	-44.96%	16.46%	23.86%	20.14%
Operating Return on Assets (OROA)	11.76%	7.34%	14.69%	21.77%	12.52%	7.81%	11.83%	15.11%	11.92%	12.12%
Return on Assets (ROA)	8.70%	4.55%	11.34%	16.09%	7.45%	5.71%	8.87%	9.45%	8.17%	7.80%
Return on Common Equity (ROCE)	27.75%	13.66%	34.68%	59.60%	32.88%	26.44%	42.16%	46.31%	37.90%	31.20%
Return on Equity Simple (ROE_SIMPLE)	27.30%	13.90%	31.97%	54.19%	30.14%	25.49%	39.44%	40.23%	38.85%	36.04%
Net Operating Profit after Tax (NOPAT)	3,636	2,223	3,021	4,429	3,477	3,502	3,262	2,183	2,497	2,194
NOPAT Margin	8.86%	5.66%	8.25%	12.42%	9.45%	10.35%	10.84%	8.40%	10.11%	9.33%
Net Nonoperating Expense Percent (NNEP)	-5.12%	1.68%	-20.30%	-29.91%	3.12%	10.98%	0.42%	-17.84%	10.58%	6.66%
Return On Investment Capital (ROIC_SIMPLE)	12.13%	7.78%	11.14%	17.23%	14.00%	16.22%	14.78%	10.14%	20.27%	18.42%
Cost of Revenue to Revenue	79.62%	83.33%	79.58%	79.62%	79.68%	78.55%	77.43%	77.20%	76.08%	76.02%
SG&A Expenses to Revenue	9.73%	10.22%	10.58%	10.09%	9.27%	9.72%	10.01%	10.43%	10.65%	10.91%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	9.73%	10.22%	10.58%	4.53%	9.27%	9.72%	10.01%	10.43%	10.65%	10.91%
Earnings before Interest and Taxes (EBIT)	5,637	3,313	6,342	9,475	5,355	3,076	4,304	4,589	2,982	3,091
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7,007	4,651	7,684	10,714	6,622	4,341	5,104	5,064	3,438	3,558
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.45	4.67	5.28	4.51	4.48	6.03	4.69	6.66	6.83	5.38
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.66	1.76	2.21	1.63	1.29	1.57	1.28	1.83	1.45	1.26
Price to Earnings (P/E)	16.31	33.62	16.52	8.32	14.86	23.65	11.89	16.55	17.58	14.92
Dividend Yield	1.72%	1.60%	1.29%	1.68%	1.99%	1.64%	2.13%	1.43%	1.72%	1.90%
Earnings Yield	6.13%	2.97%	6.05%	12.02%	6.73%	4.23%	8.41%	6.04%	5.69%	6.70%
Enterprise Value to Invested Capital (EV/IC)	3.06	3.13	3.67	3.04	3.06	3.29	2.47	4.92	4.14	3.52
Enterprise Value to Revenue (EV/Rev)	1.91	2.03	2.46	1.89	1.54	1.88	1.68	1.95	1.64	1.43
Enterprise Value to EBITDA (EV/EBITDA)	11.19	17.16	11.73	6.30	8.57	14.67	9.93	10.01	11.76	9.49
Enterprise Value to EBIT (EV/EBIT)	13.91	24.08	14.21	7.12	10.60	20.71	11.78	11.04	13.56	10.92
Enterprise Value to NOPAT (EV/NOPAT)	21.56	35.89	29.83	15.24	16.32	18.19	15.54	23.21	16.19	15.38
Enterprise Value to Operating Cash Flow (EV/OCF)	17.87	20.59	31.06	18.93	13.18	14.82	13.25	19.39	14.37	15.61
Enterprise Value to Free Cash Flow (EV/FCFF)	22.53	61.79	137.80	83.15	13.30	13.70	0.00	30.65	17.50	17.75
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.96	0.93	0.77	0.99	1.35	1.45	1.70	2.02	1.34	1.16
Long-Term Debt to Equity	0.96	0.93	0.77	0.99	1.35	1.45	1.70	2.02	1.34	1.16
Financial Leverage	0.70	0.66	0.65	0.73	0.95	1.34	1.01	0.62	0.80	0.48
Leverage Ratio	3.19	3.00	3.06	3.70	4.41	4.63	4.75	4.90	4.64	4.00
Compound Leverage Factor	2.84	2.12	2.81	3.49	3.07	3.84	4.13	4.52	4.17	3.61
Debt to Total Capital	49.00%	48.23%	43.53%	49.71%	57.41%	59.15%	62.90%	66.88%	57.30%	53.63%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	49.00%	48.23%	43.53%	49.71%	57.41%	59.15%	62.90%	66.88%	57.30%	53.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.00%	51.77%	56.47%	50.29%	42.59%	40.85%	37.10%	33.12%	42.70%	46.37%
Debt to EBITDA	2.10	2.96	1.54	1.19	2.15	2.94	2.72	2.84	2.05	1.79
Net Debt to EBITDA	1.48	2.30	1.20	0.86	1.41	2.42	2.41	0.63	1.31	1.14
Long-Term Debt to EBITDA	2.10	2.96	1.54	1.19	2.15	2.94	2.72	2.84	2.05	1.79
Debt to NOPAT	4.04	6.20	3.91	2.88	4.10	3.65	4.26	6.60	2.83	2.91
Net Debt to NOPAT	2.84	4.80	3.05	2.09	2.69	3.01	3.77	1.45	1.81	1.85
Long-Term Debt to NOPAT	4.04	6.20	3.91	2.88	4.10	3.65	4.26	6.60	2.83	2.91
Altman Z-Score	2.84	2.88	3.54	3.26	2.55	2.39	2.30	2.79	3.05	2.98
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.01	1.15	1.08	1.30	1.60	1.13	1.17	2.34	1.22	1.16
Quick Ratio	0.82	0.86	0.87	1.10	1.21	0.94	0.97	2.22	1.04	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,479	1,291	654	812	4,265	4,649	-6,923	1,653	2,310	1,902
Operating Cash Flow to CapEx	248.33%	218.31%	202.16%	252.08%	303.17%	339.95%	306.41%	281.57%	305.76%	459.02%
Free Cash Flow to Firm to Interest Expense	5.60	1.34	1.29	1.46	2.62	8.80	-12.32	4.59	7.68	6.32
Operating Cash Flow to Interest Expense	7.07	4.01	5.73	6.42	2.65	8.14	6.81	7.26	9.35	7.18
Operating Cash Flow Less CapEx to Interest Expense	4.22	2.17	2.90	3.87	1.77	5.74	4.59	4.68	6.29	5.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.86	0.87	0.85	0.82	0.86	0.86	0.83	0.86	0.99	0.92
Accounts Receivable Turnover	5.73	5.37	5.07	5.25	5.53	5.15	5.48	0.00	0.00	0.00
Inventory Turnover	25.48	31.37	32.56	36.18	38.03	37.00	44.30	33.07	23.16	23.09
Fixed Asset Turnover	4.06	4.26	4.39	4.77	5.26	5.10	5.68	6.66	7.43	7.77
Accounts Payable Turnover	13.88	13.94	12.18	14.19	14.54	12.06	12.13	12.49	13.26	13.83
Days Sales Outstanding (DSO)	63.72	68.01	72.06	69.59	65.96	70.83	66.66	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	14.32	11.63	11.21	10.09	9.60	9.87	8.24	11.04	15.76	15.81
Days Payable Outstanding (DPO)	26.30	26.18	29.97	25.72	25.10	30.26	30.10	29.23	27.53	26.40
Cash Conversion Cycle (CCC)	51.74	53.46	53.30	53.95	50.47	50.43	44.81	-18.19	-11.78	-10.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,629	25,472	24,540	22,173	18,556	19,344	20,491	10,306	9,776	9,589
Invested Capital Turnover	1.61	1.57	1.57	1.75	1.94	1.70	1.95	2.59	2.55	2.49
Increase / (Decrease) in Invested Capital	157	932	2,367	3,617	-788	-1,147	10,185	530	187	292
Enterprise Value (EV)	78,407	79,792	90,119	67,507	56,738	63,700	50,696	50,668	40,436	33,752
Market Capitalization	68,068	69,115	80,891	58,260	47,384	53,175	38,392	47,494	35,919	29,685
Book Value per Share	$104.95	$98.11	$99.49	$81.53	$63.46	$52.33	$47.15	$40.97	$29.84	$30.28
Tangible Book Value per Share	($16.99)	($20.07)	($16.81)	($32.59)	($46.32)	($64.85)	($68.29)	($30.88)	($40.80)	($38.04)
Total Capital	29,982	28,581	27,117	25,703	24,840	21,589	22,070	21,531	12,317	11,908
Total Debt	14,692	13,786	11,805	12,777	14,261	12,770	13,883	14,399	7,058	6,386
Total Long-Term Debt	14,692	13,786	11,805	12,777	14,261	12,770	13,883	14,399	7,058	6,386
Net Debt	10,339	10,677	9,228	9,247	9,354	10,525	12,304	3,174	4,517	4,067
Capital Expenditures (CapEx)	1,767	1,775	1,435	1,415	1,420	1,264	1,249	928	920	471
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,207	-1,345	-1,676	-634	857	-994	-173	-1,730	-1,315	-1,442
Debt-free Net Working Capital (DFNWC)	146	1,764	901	2,896	5,764	1,251	1,406	9,495	1,226	877
Net Working Capital (NWC)	146	1,764	901	2,896	5,764	1,251	1,406	9,495	1,226	877
Net Nonoperating Expense (NNE)	-538	167	-1,875	-2,576	288	1,254	33	-686	454	204
Net Nonoperating Obligations (NNO)	10,339	10,677	9,228	9,247	7,977	10,525	12,304	3,174	4,517	4,067
Total Depreciation and Amortization (D&A)	1,370	1,338	1,342	1,239	1,267	1,265	800	475	456	467
Debt-free, Cash-free Net Working Capital to Revenue	-10.25%	-3.42%	-4.58%	-1.78%	2.33%	-2.94%	-0.57%	-6.65%	-5.32%	-6.13%
Debt-free Net Working Capital to Revenue	0.36%	4.49%	2.46%	8.12%	15.66%	3.70%	4.67%	36.51%	4.96%	3.73%
Net Working Capital to Revenue	0.36%	4.49%	2.46%	8.12%	15.66%	3.70%	4.67%	36.51%	4.96%	3.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$28.39	$13.57	$31.61	$43.70	$19.08	$13.28	$18.59	$11.55	$12.30	$10.51
Adjusted Weighted Average Basic Shares Outstanding	147M	151.50M	154.90M	160.30M	167.10M	169.30M	173.70M	174.40M	178.90M	189.40M
Adjusted Diluted Earnings per Share	$28.34	$13.53	$31.47	$43.54	$19.03	$13.22	$18.49	$11.47	$12.19	$10.39
Adjusted Weighted Average Diluted Shares Outstanding	147.30M	152M	155.60M	160.90M	167.60M	170M	174.60M	175.60M	180.50M	191.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	144.76M	150.04M	153.05M	156.10M	166.72M	167.64M	169.74M	174.09M	174.60M	180.94M
Normalized Net Operating Profit after Tax (NOPAT)	3,636	2,223	3,021	2,877	3,477	3,502	3,262	2,183	2,497	2,194
Normalized NOPAT Margin	8.86%	5.66%	8.25%	8.07%	9.45%	10.35%	10.84%	8.40%	10.11%	9.33%
Pre Tax Income Margin	12.22%	5.97%	15.94%	25.06%	10.13%	7.53%	12.43%	16.26%	10.85%	11.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.08	3.43	12.53	17.04	3.29	5.83	7.66	12.75	9.91	10.27
NOPAT to Interest Expense	5.86	2.30	5.97	7.97	2.14	6.63	5.80	6.06	8.30	7.29
EBIT Less CapEx to Interest Expense	6.23	1.59	9.70	14.50	2.42	3.43	5.44	10.17	6.85	8.70
NOPAT Less CapEx to Interest Expense	3.01	0.46	3.13	5.42	1.26	4.24	3.58	3.49	5.24	5.72
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.41%	54.28%	21.49%	14.03%	29.88%	39.15%	25.43%	24.02%	31.33%	30.30%
Augmented Payout Ratio	88.64%	127.24%	52.21%	66.92%	45.25%	72.24%	64.54%	37.71%	107.05%	190.20%

This table displays calculated financial ratios and metrics derived from Northrop Grumman's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.56%	0.45%	2.26%	6.70%	8.95%	6.03%	8.96%	8.81%	5.73%	16.14%	2.88%
EBITDA Growth	-32.04%	1,001.04%	6.60%	11.60%	10.60%	-93.47%	2.40%	-9.56%	-9.81%	-21.69%	-10.58%
EBIT Growth	-42.52%	926.57%	7.15%	14.64%	13.31%	-108.05%	3.88%	-11.48%	-11.75%	-25.25%	-13.86%
NOPAT Growth	-46.66%	422.61%	13.59%	12.38%	11.88%	-135.79%	20.19%	1.37%	6.70%	27.85%	-18.52%
Net Income Growth	-49.05%	336.26%	9.50%	15.76%	12.11%	-125.72%	2.40%	-14.16%	-11.83%	-23.25%	-13.92%
EPS Growth	-47.47%	348.14%	13.27%	19.10%	14.91%	-126.01%	4.92%	-11.88%	-9.84%	-21.34%	-11.16%
Operating Cash Flow Growth	-121.67%	6.09%	-11.16%	55.06%	-0.57%	7.95%	-8.02%	566.50%	-43.85%	56.10%	14.79%
Free Cash Flow Firm Growth	-177.46%	160.52%	192.16%	395.01%	183.69%	24.48%	16.32%	104.71%	51.01%	47.00%	-794.95%
Invested Capital Growth	6.03%	0.62%	-5.53%	-0.63%	-1.92%	3.80%	14.78%	2.30%	10.33%	10.68%	19.59%
Revenue Q/Q Growth	-11.40%	6.90%	-2.17%	0.84%	-4.75%	8.83%	2.08%	2.96%	-7.30%	11.84%	1.93%
EBITDA Q/Q Growth	-49.60%	26.49%	3.32%	3.17%	716.58%	-87.75%	8.17%	2.25%	-51.76%	91.94%	-4.47%
EBIT Q/Q Growth	-57.10%	26.83%	3.77%	1.80%	716.91%	-116.44%	11.02%	0.62%	-56.18%	112.21%	-5.39%
NOPAT Q/Q Growth	-46.27%	-8.25%	8.19%	0.02%	424.94%	-132.31%	7.04%	-0.43%	3.96%	8.48%	-9.72%
Net Income Q/Q Growth	-61.95%	23.20%	9.15%	-0.42%	276.45%	-157.10%	15.39%	-3.56%	-59.52%	127.32%	-3.28%
EPS Q/Q Growth	-61.66%	23.71%	10.06%	0.63%	281.09%	-156.47%	15.73%	-2.91%	-59.02%	127.84%	-2.81%
Operating Cash Flow Q/Q Growth	-160.71%	136.30%	-23.44%	301.84%	-129.05%	97.88%	33.62%	230.91%	-131.19%	68.61%	777.67%
Free Cash Flow Firm Q/Q Growth	-248.55%	-70.73%	136.06%	-24.54%	216.06%	55.42%	-1,367.87%	112.76%	-4.73%	50.60%	28.67%
Invested Capital Q/Q Growth	7.17%	-1.85%	1.46%	-0.65%	1.70%	-7.84%	6.72%	-1.94%	7.62%	1.91%	-4.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.69%	18.08%	21.07%	21.44%	21.05%	4.56%	20.88%	21.30%	21.34%	18.18%	20.27%
EBITDA Margin	11.31%	19.89%	16.81%	15.91%	15.55%	1.81%	16.12%	15.22%	15.32%	29.44%	17.16%
Operating Margin	6.05%	10.19%	11.20%	10.67%	10.57%	-3.69%	10.39%	10.10%	10.18%	9.03%	9.41%
EBIT Margin	7.75%	16.01%	13.50%	12.72%	12.60%	-1.95%	12.88%	11.84%	12.12%	25.64%	13.51%
Profit (Net Income) Margin	5.08%	11.83%	10.26%	9.20%	9.32%	-5.03%	9.59%	8.48%	9.05%	20.73%	10.20%
Tax Burden Percent	83.22%	81.50%	86.36%	82.02%	83.47%	70.67%	83.81%	82.27%	84.37%	84.83%	83.95%
Interest Burden Percent	78.75%	90.65%	88.07%	88.15%	88.57%	365.70%	88.80%	87.04%	88.55%	95.33%	89.93%
Effective Tax Rate	16.78%	18.50%	13.64%	17.98%	16.53%	0.00%	16.19%	17.73%	15.63%	15.17%	16.06%
Return on Invested Capital (ROIC)	7.62%	13.34%	14.76%	13.82%	13.53%	-4.06%	13.03%	12.29%	12.66%	12.00%	12.58%
ROIC Less NNEP Spread (ROIC-NNEP)	7.65%	16.92%	15.27%	14.24%	13.97%	-6.67%	13.81%	12.44%	13.05%	26.20%	14.77%
Return on Net Nonoperating Assets (RNNOA)	6.33%	11.82%	11.48%	10.44%	10.92%	-4.41%	10.10%	9.42%	10.07%	17.14%	10.98%
Return on Equity (ROE)	13.95%	25.16%	26.24%	24.26%	24.45%	-8.48%	23.14%	21.71%	22.73%	29.15%	23.56%
Cash Return on Invested Capital (CROIC)	6.21%	13.62%	15.11%	9.98%	10.79%	5.16%	-1.29%	9.76%	2.37%	2.80%	-5.07%
Operating Return on Assets (OROA)	6.50%	13.70%	11.87%	11.12%	10.98%	-1.69%	11.37%	10.25%	10.44%	21.74%	11.18%
Return on Assets (ROA)	4.26%	10.12%	9.03%	8.04%	8.12%	-4.38%	8.46%	7.34%	7.80%	17.58%	8.44%
Return on Common Equity (ROCE)	13.95%	25.16%	26.24%	24.26%	24.45%	-8.48%	23.14%	21.71%	22.73%	29.15%	23.56%
Return on Equity Simple (ROE_SIMPLE)	24.77%	0.00%	16.10%	15.98%	15.17%	0.00%	29.33%	30.02%	31.60%	0.00%	39.63%
Net Operating Profit after Tax (NOPAT)	477	887	967	894	894	-275	852	796	799	769	708
NOPAT Margin	5.04%	8.31%	9.68%	8.75%	8.82%	-2.59%	8.71%	8.31%	8.59%	7.66%	7.90%
Net Nonoperating Expense Percent (NNEP)	-0.03%	-3.58%	-0.51%	-0.42%	-0.44%	2.61%	-0.78%	-0.15%	-0.39%	-14.20%	-2.19%
Return On Investment Capital (ROIC_SIMPLE)	1.64%	2.96%	3.29%	3.08%	3.09%	-0.96%	2.87%	2.72%	2.76%	2.83%	2.75%
Cost of Revenue to Revenue	83.31%	81.92%	78.93%	78.56%	78.95%	95.44%	79.12%	78.70%	78.66%	81.82%	79.73%
SG&A Expenses to Revenue	10.64%	7.89%	9.86%	10.78%	10.48%	8.25%	10.49%	11.21%	11.16%	9.15%	10.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.64%	7.89%	9.86%	10.78%	10.48%	8.25%	10.49%	11.21%	11.16%	9.15%	10.86%
Earnings before Interest and Taxes (EBIT)	734	1,711	1,349	1,300	1,277	-207	1,259	1,134	1,127	2,572	1,212
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,071	2,125	1,680	1,626	1,576	193	1,576	1,457	1,425	2,954	1,539
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.95	4.45	5.19	4.45	4.99	4.67	4.08	4.34	4.51	5.28	5.01
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.84	1.66	1.87	1.56	1.77	1.76	1.68	1.77	1.84	2.21	1.98
Price to Earnings (P/E)	19.97	16.31	32.24	27.87	32.88	33.62	13.90	14.46	14.28	16.52	12.64
Dividend Yield	1.61%	1.72%	1.50%	1.78%	1.59%	1.60%	1.68%	1.60%	1.55%	1.29%	1.46%
Earnings Yield	5.01%	6.13%	3.10%	3.59%	3.04%	2.97%	7.19%	6.92%	7.00%	6.05%	7.91%
Enterprise Value to Invested Capital (EV/IC)	3.15	3.06	3.37	2.92	3.19	3.13	2.77	3.00	3.01	3.67	3.32
Enterprise Value to Revenue (EV/Rev)	2.15	1.91	2.15	1.84	2.06	2.03	1.98	2.05	2.15	2.46	2.27
Enterprise Value to EBITDA (EV/EBITDA)	13.32	11.19	17.32	15.12	17.21	17.16	10.34	10.52	10.57	11.73	9.41
Enterprise Value to EBIT (EV/EBIT)	17.00	13.91	23.64	20.71	23.86	24.08	12.58	12.84	12.85	14.21	11.09
Enterprise Value to NOPAT (EV/NOPAT)	26.90	21.56	34.71	31.15	35.68	35.89	23.77	25.19	25.94	29.83	28.34
Enterprise Value to Operating Cash Flow (EV/OCF)	24.54	17.87	20.74	17.17	21.35	20.59	20.74	20.41	29.62	31.06	38.24
Enterprise Value to Free Cash Flow (EV/FCFF)	52.24	22.53	21.65	29.17	29.27	61.79	0.00	31.05	133.54	137.80	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.95	0.96	1.00	1.03	1.04	0.93	0.87	0.89	0.91	0.77	0.85
Long-Term Debt to Equity	0.95	0.96	1.00	1.03	1.04	0.93	0.87	0.89	0.91	0.77	0.85
Financial Leverage	0.83	0.70	0.75	0.73	0.78	0.66	0.73	0.76	0.77	0.65	0.74
Leverage Ratio	3.30	3.19	3.04	3.13	3.14	3.00	2.93	3.00	3.03	3.06	3.35
Compound Leverage Factor	2.60	2.89	2.68	2.76	2.78	10.97	2.61	2.61	2.68	2.91	3.02
Debt to Total Capital	48.60%	49.00%	49.90%	50.70%	50.90%	48.23%	46.41%	47.11%	47.64%	43.53%	45.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	48.60%	49.00%	49.90%	50.70%	50.90%	48.23%	46.41%	47.11%	47.64%	43.53%	45.84%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.40%	51.00%	50.10%	49.30%	49.10%	51.77%	53.59%	52.89%	52.36%	56.47%	54.16%
Debt to EBITDA	2.18	2.10	2.89	2.96	3.07	2.96	1.86	1.87	1.83	1.54	1.39
Net Debt to EBITDA	1.92	1.48	2.24	2.30	2.43	2.30	1.58	1.41	1.50	1.20	1.19
Long-Term Debt to EBITDA	2.18	2.10	2.89	2.96	3.07	2.96	1.86	1.87	1.83	1.54	1.39
Debt to NOPAT	4.40	4.04	5.80	6.10	6.36	6.20	4.28	4.48	4.49	3.91	4.18
Net Debt to NOPAT	3.88	2.84	4.49	4.74	5.04	4.80	3.63	3.38	3.67	3.05	3.59
Long-Term Debt to NOPAT	4.40	4.04	5.80	6.10	6.36	6.20	4.28	4.48	4.49	3.91	4.18
Altman Z-Score	2.63	2.58	2.77	2.54	2.65	2.63	2.87	2.79	2.87	3.25	2.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.95	1.01	1.09	1.11	1.13	1.15	1.28	1.20	1.22	1.08	1.14
Quick Ratio	0.74	0.82	0.38	0.88	0.86	0.86	0.98	0.98	1.03	0.87	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,085	730	2,495	1,057	1,401	-1,207	-2,707	214	-1,674	-1,598	-3,236
Operating Cash Flow to CapEx	-611.33%	315.93%	302.22%	445.31%	-261.48%	302.62%	342.06%	302.30%	-227.18%	356.17%	451.01%
Free Cash Flow to Firm to Interest Expense	-6.96	4.57	15.50	6.86	9.60	-2.19	-19.20	1.45	-12.98	-13.32	-26.52
Operating Cash Flow to Interest Expense	-10.03	16.11	6.78	9.25	-4.84	4.42	8.71	6.25	-5.44	18.76	10.94
Operating Cash Flow Less CapEx to Interest Expense	-11.67	11.01	4.53	7.18	-6.68	2.96	6.16	4.18	-7.84	13.49	8.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.84	0.86	0.88	0.87	0.87	0.87	0.88	0.87	0.86	0.85	0.83
Accounts Receivable Turnover	4.76	5.73	8.50	5.07	4.85	5.37	4.72	4.57	4.61	5.07	4.51
Inventory Turnover	22.09	25.48	22.71	24.30	26.90	31.37	26.28	27.52	30.23	32.56	30.10
Fixed Asset Turnover	3.99	4.06	4.26	4.35	4.33	4.26	4.42	4.43	4.40	4.39	4.51
Accounts Payable Turnover	12.82	13.88	14.26	15.39	14.17	13.94	13.40	14.55	14.10	12.18	12.40
Days Sales Outstanding (DSO)	76.60	63.72	42.94	72.05	75.32	68.01	77.37	79.80	79.22	72.06	81.02
Days Inventory Outstanding (DIO)	16.52	14.32	16.08	15.02	13.57	11.63	13.89	13.26	12.07	11.21	12.13
Days Payable Outstanding (DPO)	28.48	26.30	25.59	23.72	25.75	26.18	27.23	25.09	25.88	29.97	29.45
Cash Conversion Cycle (CCC)	64.65	51.74	33.42	63.35	63.13	53.46	64.03	67.97	65.41	53.30	63.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	27,466	25,629	26,111	25,735	25,904	25,472	27,639	25,898	26,411	24,540	24,080
Invested Capital Turnover	1.51	1.61	1.53	1.58	1.53	1.57	1.50	1.48	1.47	1.57	1.59
Increase / (Decrease) in Invested Capital	1,562	157	-1,528	-163	-507	932	3,559	582	2,473	2,367	3,944
Enterprise Value (EV)	86,598	78,407	87,923	75,140	82,639	79,792	76,659	77,620	79,595	90,119	79,996
Market Capitalization	74,116	68,068	76,560	63,706	70,958	69,115	64,948	67,208	68,320	80,891	69,859
Book Value per Share	$103.51	$104.95	$100.84	$96.63	$95.52	$98.11	$105.27	$101.98	$98.89	$99.49	$90.12
Tangible Book Value per Share	($18.60)	($16.99)	($20.77)	($23.63)	($24.06)	($20.07)	($12.62)	($15.64)	($17.93)	($16.81)	($25.89)
Total Capital	29,151	29,982	29,437	29,007	28,965	28,581	29,721	29,282	28,906	27,117	25,746
Total Debt	14,167	14,692	14,689	14,706	14,742	13,786	13,793	13,796	13,770	11,805	11,803
Total Long-Term Debt	14,167	14,692	14,689	14,706	14,742	13,786	13,793	13,796	13,770	11,805	11,803
Net Debt	12,482	10,339	11,363	11,434	11,681	10,677	11,711	10,412	11,275	9,228	10,137
Capital Expenditures (CapEx)	256	816	361	320	270	803	359	304	309	632	296
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,387	-4,207	-2,095	-1,913	-1,397	-1,345	763	-1,072	-168	-1,676	-180
Debt-free Net Working Capital (DFNWC)	-702	146	1,231	1,359	1,664	1,764	2,845	2,312	2,327	901	1,486
Net Working Capital (NWC)	-702	146	1,231	1,359	1,664	1,764	2,845	2,312	2,327	901	1,486
Net Nonoperating Expense (NNE)	-4.16	-377	-59	-46	-50	260	-85	-16	-43	-1,311	-207
Net Nonoperating Obligations (NNO)	12,482	10,339	11,363	11,434	11,681	10,677	11,711	10,412	11,275	9,228	10,137
Total Depreciation and Amortization (D&A)	337	414	331	326	299	400	317	323	298	382	327
Debt-free, Cash-free Net Working Capital to Revenue	-5.91%	-10.25%	-5.11%	-4.69%	-3.48%	-3.42%	1.97%	-2.83%	-0.45%	-4.58%	-0.51%
Debt-free Net Working Capital to Revenue	-1.74%	0.36%	3.00%	3.33%	4.15%	4.49%	7.35%	6.10%	6.27%	2.46%	4.22%
Net Working Capital to Revenue	-1.74%	0.36%	3.00%	3.33%	4.15%	4.49%	7.35%	6.10%	6.27%	2.46%	4.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.33	$8.66	$7.02	$6.37	$6.34	($3.50)	$6.20	$5.35	$5.52	$13.48	$5.92
Adjusted Weighted Average Basic Shares Outstanding	144.60M	147M	146.20M	147.50M	148.90M	151.50M	151.20M	151.70M	152.60M	154.90M	154.60M
Adjusted Diluted Earnings per Share	$3.32	$8.66	$7.00	$6.36	$6.32	($3.49)	$6.18	$5.34	$5.50	$13.42	$5.89
Adjusted Weighted Average Diluted Shares Outstanding	144.90M	147.30M	146.50M	147.70M	149.30M	152M	151.70M	152.20M	153.20M	155.60M	155.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	143.93M	144.76M	145.70M	146.25M	147.99M	150.04M	150.79M	151.30M	151.86M	153.05M	153.91M
Normalized Net Operating Profit after Tax (NOPAT)	477	887	967	894	894	-275	852	796	799	769	708
Normalized NOPAT Margin	5.04%	8.31%	9.68%	8.75%	8.82%	-2.59%	8.71%	8.31%	8.59%	7.66%	7.90%
Pre Tax Income Margin	6.10%	14.51%	11.88%	11.22%	11.16%	-7.12%	11.44%	10.31%	10.73%	24.44%	12.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.71	10.69	8.38	8.44	8.75	-0.38	8.93	7.71	8.74	21.43	9.93
NOPAT to Interest Expense	3.06	5.55	6.01	5.81	6.12	-0.50	6.04	5.41	6.19	6.40	5.81
EBIT Less CapEx to Interest Expense	3.06	5.59	6.14	6.36	6.90	-1.84	6.38	5.65	6.34	16.17	7.51
NOPAT Less CapEx to Interest Expense	1.42	0.45	3.77	3.73	4.27	-1.96	3.49	3.34	3.80	1.14	3.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	32.47%	28.41%	49.22%	50.22%	52.32%	54.28%	23.55%	23.38%	22.39%	21.49%	18.68%
Augmented Payout Ratio	81.08%	88.64%	151.07%	151.75%	143.47%	127.24%	58.81%	61.99%	62.30%	52.21%	54.72%

Frequently Asked Questions About Northrop Grumman's Financials

When does Northrop Grumman's financial year end?

According to the most recent income statement we have on file, Northrop Grumman's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Northrop Grumman's net income changed over the last 9 years?

Northrop Grumman's net income appears to be on an upward trend, with a most recent value of $4.17 billion in 2024, rising from $1.99 billion in 2015. The previous period was $2.06 billion in 2023. Check out Northrop Grumman's forecast to explore projected trends and price targets.

What is Northrop Grumman's operating income?

Northrop Grumman's total operating income in 2024 was $4.37 billion, based on the following breakdown:

Total Gross Profit: $8.36 billion
Total Operating Expenses: $3.99 billion

How has Northrop Grumman revenue changed over the last 9 years?

Over the last 9 years, Northrop Grumman's total revenue changed from $23.53 billion in 2015 to $41.03 billion in 2024, a change of 74.4%.

How much debt does Northrop Grumman have?

Northrop Grumman's total liabilities were at $34.07 billion at the end of 2024, a 7.3% increase from 2023, and a 80.2% increase since 2015.

How much cash does Northrop Grumman have?

In the past 9 years, Northrop Grumman's cash and equivalents has ranged from $1.58 billion in 2018 to $11.23 billion in 2017, and is currently $4.35 billion as of their latest financial filing in 2024.

How has Northrop Grumman's book value per share changed over the last 9 years?

Over the last 9 years, Northrop Grumman's book value per share changed from 30.28 in 2015 to 104.95 in 2024, a change of 246.6%.

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This page (NYSE:NOC) was last updated on 5/29/2025 by MarketBeat.com Staff

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Northrop Grumman (NOC) Financials

Frequently Asked Questions About Northrop Grumman's Financials

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Northrop Grumman (NOC) Financials

Annual Income Statements for Northrop Grumman

Quarterly Income Statements for Northrop Grumman

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Quarterly Cash Flow Statements for Northrop Grumman

Annual Balance Sheets for Northrop Grumman

Quarterly Balance Sheets for Northrop Grumman

Annual Metrics And Ratios for Northrop Grumman

Quarterly Metrics And Ratios for Northrop Grumman

Frequently Asked Questions About Northrop Grumman's Financials

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