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NYSE · Industrials

Northrop Grumman Corp. (NOC)

As-reported financials and SEC filings for Northrop Grumman Corp. The latest annual period is FY2025. The latest reported quarter is Q3 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Northrop Grumman Corp.

Northrop Grumman Corporation is a global aerospace and defense technology company that provides products and services primarily to the U.S. Department of War and intelligence community, as well as international customers. Its main offerings include space systems, military aircraft, missile defense, advanced weapons, mission systems, networking and communications, and strategic deterrence systems. The company operates through four sectors: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems, serving military and government clients with advanced technology solutions.

Snapshot

Revenue
$41.95B
Revenue growth (YoY)
2.2%
Net income
$4.18B
Diluted EPS
$29.08
Gross margin
—
Operating margin
10.8%
Net margin
10.0%
FCF margin
7.9%
ROE
25.1%
net income / fiscal-year-end equity
P/E
17.4×
trailing when available, otherwise FY EPS
Market cap
$78.34B
Long-term debt / equity
0.91×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Northrop Grumman

  • Revenue grew 2.2% to $42.0B in FY2025, slower than the 4.4% the year before.
  • Operating margin is 10.8% in FY2025, -5.1 pp against 15.8% in FY2021.
  • Most recent quarter Q3 FY2026: revenue $11.1B, up 6.7% from Q3 FY2025.
  • Free cash flow was $3.3B in FY2025, 7.9% of revenue.
  • Net income rose 0.2% to $4.2B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Northrop Grumman’s fundamentals sit among the 667 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin10.8%
68th percentile of 598
Net margin10.0%
74th percentile of 630
FCF margin7.9%
63rd percentile of 545
Revenue growth (YoY)+2.2%
40th percentile of 652
ROE25.1%
88th percentile of 589
P/E17.4×
34th percentile of 406
Long-term debt / equity0.91×
73rd percentile of 405
Short interest2.60d
37th percentile of 660

Northrop Grumman’s return on equity of 25.1% ranks in the 88th percentile of the 589 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 10 insider sales totaling $52,015. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
4
+6 quant / multi-strat
Initiated / added
7
0 new, 7 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$1.24B
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$289.1M567.6KAdded
D. E. ShawquantQ2 2026$223.7M439.2KAdded
AQR Capital ManagementquantQ2 2026$219.0M430.0KAdded
Millennium ManagementquantQ2 2026$154.0M302.4KAdded
Two Sigma InvestmentsquantQ2 2026$115.8M227.4KReduced
Renaissance TechnologiesquantQ2 2026$103.6M203.4KAdded
Yacktman Asset ManagementQ2 2026$100.6M197.5KAdded
Gotham Asset ManagementQ2 2026$32.1M63.0KAdded
Soros Fund ManagementQ2 2026$4.9M9.7KHeld
Bridgewater AssociatesQ2 2026$1.6M3.1KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
10
$52K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell31$547.42$17K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell19$545.59$10K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell11$546.42$6K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell10$548.32$5K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell8$544.53$4K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell6$549.50$3K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell4$554.14$2K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell2$553.90$1K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell2$552.95$1K
2026-08-03
filed 2026-08-04
Mark A. Welsh IIIDirectorSell2$550.68$1K
2026-05-04
filed 2026-05-05
Mark A. Welsh IIIDirectorSell43$570.47$25K
2026-05-04
filed 2026-05-05
Mark A. Welsh IIIDirectorSell14$573.51$8K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.3M
settled 2026-09-30
Change vs prior
+1.3%
vs previous settlement
Days to cover
2.60
at avg daily volume
Avg daily volume
875.4K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-302.3M+1.3%2.60
2026-09-152.2M-5.9%2.76
2026-08-312.4M-2.5%3.37
2026-08-142.4M+6.3%4.22
2026-07-312.3M-0.9%2.19
2026-07-152.3M-1.4%2.63
2026-06-302.4M+10.1%2.00
2026-06-152.1M+17.6%2.05

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$41.95B$41.03B$39.29B$36.60B$35.67B
Gross profit—————
Operating income$4.51B$4.37B$2.54B$3.60B$5.65B
Pre-tax income$5.07B$5.02B$2.35B$5.84B$8.94B
Net income$4.18B$4.17B$2.06B$4.90B$7.00B
Diluted EPS$29.08$28.34$13.53$31.47$43.54

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$4.76B$4.39B$3.88B$2.90B$3.57B
Capital expenditure$1.45B$1.77B$1.77B$1.44B$1.42B
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q3 FY2026$11.12B6.7%$1.12B$7.89
Q2 FY2026$10.88B5.1%$1.09B$7.68
Q1 FY2026$9.88B4.4%$875.0M$6.14
Q4 FY20259.6%
Q3 FY2025$10.42B4.3%$1.10B$7.67
Q2 FY2025$10.35B1.3%$1.17B$8.15
Q1 FY2025$9.47B-6.6%$481.0M$3.32
Q4 FY20240.5%

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industrySearch, Detection, Navigation, Guidance, Aeronautical Sys
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ3 FY2026 (ended September 30, 2026)
Oldest indexed filing2017
SEC CIK1133421

Selected SEC filings

10-K2026-01-27
View on EDGAR →
10-K2025-01-30
View on EDGAR →
10-Q2026-10-20
View on EDGAR →
10-Q2026-07-21
View on EDGAR →
10-Q2026-04-21
View on EDGAR →
10-Q2025-10-21
View on EDGAR →
8-K2026-10-20
View on EDGAR →
8-K2026-08-21
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.