Industrials · Aerospace & Defense
Price
$500.03
Market Cap
$71.0B
Employees
97,000
Beta
-0.12
Avg Volume
885,375
CEO
Kathy J. Warden
Business Description
Northrop Grumman Corporation is a leading global player in the aerospace and defense sectors. Its Aeronautics Systems division is responsible for the full lifecycle of aircraft, from design and development to production, integration, and ongoing maintenance. This includes a diverse portfolio of crewed and uncrewed aerial platforms: advanced strategic long-range strike aircraft, tactical fighter and air superiority jets, and sophisticated airborne systems for battle management and command and control. Additionally, it specializes in autonomous uncrewed aircraft systems, such as high-altitude, long-endurance strategic intelligence, surveillance, and reconnaissance (ISR) platforms, alongside vertical take-off and landing tactical ISR systems. The Defense Systems segment focuses on creating and delivering a wide array of weapons and mission technologies. Its offerings encompass integrated battle management solutions, various weapons platforms, and specialized aircraft. Key products include command and control systems, munitions, and missiles, alongside precision strike capabilities. The segment is also at the forefront of propulsion technologies, offering both air-breathing and advanced hypersonic systems, as well as sophisticated gun systems and precision munitions. Beyond products, it provides comprehensive life-cycle support, including software services, ongoing maintenance, logistics, operational assistance, and modernization efforts for air, sea, and ground-based defense systems. Within its Mission Systems division, Northrop Grumman delivers critical capabilities spanning cybersecurity, C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance). This includes developing advanced sensing technologies such as radar, electro-optical/infrared, and acoustic sensors, alongside electronic warfare systems. The division also provides cutting-edge communications and networking solutions, intelligence processing, navigation systems, and maritime power, propulsion, and payload launch systems. Furthermore, it supplies airborne multifunction sensors, integrated maritime and land-based systems, targeting and survivability solutions, and robust networked information platforms. The Space Systems segment is a key provider of space-based solutions, delivering satellites and their associated payloads, along with essential ground control systems. It specializes in missile defense systems, including interceptors, and offers a range of launch vehicles with their propulsion components, as well as strategic missile technologies. Established in 1939, the corporation maintains its headquarters in Falls Church, Virginia.
Business History
Price Overview
Last updated: Jun 27, 2026 9:00am (just now)$500.03
+0.70 (+0.14%)
Day Range
$498.13 – $506.84
52-Week Range
$489.52 – $774.00
50-Day MA
$557.59
200-Day MA
$614.08
Volume
1,583,169.00
Analyst Price Targets
Low
$580.00
Consensus
$730.58
High
$815.00
(59 analysts)
Share Structure
Outstanding
142,033,000.00
Float
141,583,230.00
Free Float
99.7%
High free float
— 99.7% of shares trade freely, ~0.3% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
15.53
Stock Price: $500.03
EPS (Diluted): 29.14
EPS (Diluted): 29.14
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.91
Stock Price: $500.03
Total Equity: $16.67B
Shares: 143,800,000
Total Equity: $16.67B
Shares: 143,800,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
11.17
Market Cap: $71.02B
Total Debt: $17.88B
Cash: $4.40B
EBITDA: $7.21B
Total Debt: $17.88B
Cash: $4.40B
EBITDA: $7.21B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$97.2B
Market Cap: $71.02B
Total Debt: $17.88B
Cash: $4.40B
Total Debt: $17.88B
Cash: $4.40B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
19.8%
Gross Profit: $8.31B
Revenue: $41.95B
Revenue: $41.95B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
10.2%
Operating Income: $4.28B
Revenue: $41.95B
Revenue: $41.95B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
10.0%
Net Income: $4.18B
Revenue: $41.95B
Revenue: $41.95B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
28.1%
Net Income: $4.18B
Total Equity: $16.67B
Total Equity: $16.67B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
10.3%
Operating Income: $4.28B
Tax Rate: 17.5%
Equity: $16.67B
Total Debt: $17.88B
Cash: $4.40B
Tax Rate: 17.5%
Equity: $16.67B
Total Debt: $17.88B
Cash: $4.40B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.09
Current Assets: $15.10B
Current Liabilities: $13.88B
Current Liabilities: $13.88B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
1.07
Short-Term Debt: $865.00M
Long-Term Debt: $17.02B
Total Debt: $17.88B
Total Equity: $16.67B
Long-Term Debt: $17.02B
Total Debt: $17.88B
Total Equity: $16.67B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$291.75
Revenue: $41.95B
Shares: 143,800,000
Shares: 143,800,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$115.95
Total Equity: $16.67B
Shares: 143,800,000
Shares: 143,800,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$23.00
Operating CF: $4.76B
CapEx: -$1.45B
Shares: 143,800,000
CapEx: -$1.45B
Shares: 143,800,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.6%
Last Dividend: N/A
Stock Price: $500.03
Stock Price: $500.03
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $4.18B
Net Income: $4.18B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares NOC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 3:03am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $35.7B | $36.6B | $39.3B | $41.0B | $42.0B |
| Cost of Revenue | $28.4B | $29.1B | $32.7B | $32.7B | $33.6B |
| Gross Profit | $7.3B | $7.5B | $6.6B | $8.4B | $8.3B |
| Operating Expenses | $1.6B | $3.9B | $4.0B | $4.0B | $4.0B |
| Operating Income | $5.7B | $3.6B | $2.5B | $4.4B | $4.3B |
| Net Income | $7.0B | $4.9B | $2.1B | $4.2B | $4.2B |
| EBITDA | $8.7B | $7.7B | $4.2B | $6.8B | $7.2B |
| EPS | $43.70 | $31.61 | $13.57 | $28.39 | $29.14 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 3:04am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $3.5B | $2.6B | $3.1B | $4.4B | $4.4B |
| Total Current Assets | $12.2B | $12.3B | $13.5B | $14.1B | $15.1B |
| Total Assets | $42.6B | $43.8B | $46.5B | $49.4B | $51.4B |
| Current Liabilities | $9.5B | $11.6B | $11.9B | $14.1B | $13.9B |
| Long-Term Debt | $14.4B | $13.6B | $15.7B | $16.5B | $17.0B |
| Total Liabilities | $29.7B | $28.4B | $31.7B | $34.1B | $34.7B |
| Total Equity | $12.9B | $15.3B | $14.8B | $15.3B | $16.7B |
| Retained Earnings | $12.9B | $15.3B | $14.8B | $15.3B | $16.7B |
Cash Flow (Annual)
Last updated: Jun 24, 2026 3:04am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $3.6B | $2.9B | $3.9B | $4.4B | $4.8B |
| Capital Expenditure | -$1.4B | -$1.4B | -$1.8B | -$1.8B | -$1.5B |
| Free Cash Flow | $2.2B | $1.5B | $2.1B | $2.6B | $3.3B |
| Acquisitions (net) | $3.4B | $155.0M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$3.7B | -$1.5B | -$1.5B | -$2.5B | -$1.6B |
| Net Change in Cash | -$1.4B | -$953.0M | $532.0M | $1.2B | $50.0M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 4:27am (4h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$46.9B $45.9B – $48.2B
|
$49.8B $49.7B – $49.8B
|
$51.7B $51.0B – $52.5B
|
$55.0B $54.3B – $55.9B
|
| EBITDA |
$8.5B $8.3B – $8.7B
|
$9.0B $9.0B – $9.0B
|
$9.3B $9.2B – $9.5B
|
$9.9B $9.8B – $10.1B
|
| Net Income |
$4.2B $4.2B – $4.4B
|
$4.5B $4.3B – $5.0B
|
$4.9B $4.8B – $5.0B
|
$5.3B $5.2B – $5.4B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 3:03am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +2.6% | +7.3% | +4.4% | +2.2% |
| Gross Profit Growth | +2.8% | -12.3% | +27.6% | -0.6% |
| Operating Income Growth | -36.3% | -29.5% | +72.3% | -2.1% |
| Net Income Growth | -30.1% | -58.0% | +103.0% | +0.2% |
| EBITDA Growth | -12.0% | -45.0% | +61.7% | +5.4% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-20 | WINSTON MARY A | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | WELSH MARK A III | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | Turley James S | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | SCHOEWE THOMAS M | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | ROUGHEAD GARY | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | Ross Kimberly A. | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | KRISHNA ARVIND | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | Grady Christopher W. | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | Brown Marianne Catherine | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-20 | ABNEY DAVID P | A-Award | 349.00 | $552.17 | $192,707 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 1.00 | $566.60 | $567 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 5.00 | $568.75 | $2,844 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 9.00 | $569.49 | $5,125 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 43.00 | $570.47 | $24,530 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 3.00 | $571.74 | $1,715 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 6.00 | $572.72 | $3,436 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 14.00 | $573.51 | $8,029 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 2.00 | $574.51 | $1,149 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 4.00 | $575.59 | $2,302 |
| 2026-05-04 | WELSH MARK A III | S-Sale | 7.00 | $576.38 | $4,035 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:03pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-01 | $2.47 | 2026-05-19 | 2026-06-01 | 2026-06-17 |
| 2026-02-23 | $2.31 | 2026-02-10 | 2026-02-23 | 2026-03-11 |
| 2025-12-01 | $2.31 | 2025-11-19 | 2025-12-01 | 2025-12-17 |
| 2025-09-02 | $2.31 | 2025-08-20 | 2025-09-02 | 2025-09-17 |
| 2025-06-02 | $2.31 | 2025-05-20 | 2025-06-02 | 2025-06-18 |
| 2025-03-03 | $2.06 | 2025-02-18 | 2025-03-03 | 2025-03-19 |
| 2024-12-02 | $2.06 | 2024-11-20 | 2024-12-02 | 2024-12-18 |
| 2024-09-03 | $2.06 | 2024-08-21 | 2024-09-03 | 2024-09-18 |
| 2024-05-24 | $2.06 | 2024-05-14 | 2024-05-28 | 2024-06-12 |
| 2024-02-23 | $1.87 | 2024-02-13 | 2024-02-26 | 2024-03-13 |
| 2023-11-24 | $1.87 | 2023-11-15 | 2023-11-27 | 2023-12-13 |
| 2023-08-25 | $1.87 | 2023-08-16 | 2023-08-28 | 2023-09-13 |
| 2023-05-26 | $1.87 | 2023-05-16 | 2023-05-30 | 2023-06-14 |
| 2023-02-24 | $1.73 | 2023-02-16 | 2023-02-27 | 2023-03-15 |
| 2022-11-25 | $1.73 | 2022-11-16 | 2022-11-28 | 2022-12-14 |
| 2022-08-26 | $1.73 | 2022-08-17 | 2022-08-29 | 2022-09-14 |
| 2022-05-27 | $1.73 | 2022-05-17 | 2022-05-31 | 2022-06-15 |
| 2022-02-25 | $1.57 | 2022-02-15 | 2022-02-28 | 2022-03-16 |
| 2021-11-26 | $1.57 | 2021-11-17 | 2021-11-29 | 2021-12-15 |
| 2021-08-27 | $1.57 | 2021-08-11 | 2021-08-30 | 2021-09-15 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for NOC — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30