NOC
NORTHROP GRUMMAN CORP /DE/
Other • CIK: 0001133421
Loading...
Market Cap
$97.48B
P/E (TTM)
21.3x
Rev Growth (TTM)
+5.0%
Net Margin (TTM)
10.8%
FCF Yield (TTM)
3.4%
FCF Margin (TTM)
7.8%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$3.3B
Q1 '26
$-1.8B-156%
Q4 '25
$3.2B+158%
FCF Margin
TTM7.8%
Q1 '26-18.4%-167%
Sector: 0.0%Top 25%
OCF Margin11.0%
OCF/NI1.02x
CapEx Coverage3.4x
FCF Yield3.4%
FCF Growth (2Y)+41%
Cash Conversion Cycle
16 days
DSO: 16+DIO: –−DPO: –
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM2.6%
Div Yield1.4%
+Buyback (TTM)1.2%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)1.4%
FCF Payout Ratio39.9%
Free Cash Flow (TTM)$3.3B
Stock Repurchases (TTM)$1.2B
Capital Return / FCF76.7%
Est. Dividends Paid (TTM)$1.3B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
12.9%
Stable
+0.0% YoY+0.7%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
9.6%
8Q: 8.8%
Asset Turnover
0.85x
8Q: 0.85x
Leverage (1+D/E)
1.89x
D/E: 0.89x
DuPont: 15.5% ≈ 12.9% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
3.99x
8Q:3.99x
-16.1%
Invested Cap Turn
1.36x
8Q:1.34x
+2.6%
CapEx Intensity
4.4%
8Q:4.0%
CapEx/Depreciation
0.90x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $42.4B | $9.9B↓15.6% | $11.7B↑12.4% | $10.4B↑0.7% | $10.4B↑9.3% | $9.5B↓11.4% | $10.7B↑6.9% | $10.0B↓2.2% | $10.2B |
Operating Income | $4.9B | $989.0M↓22.2% | $1.3B↑2.3% | $1.2B↓12.8% | $1.4B↑148.7% | $573.0M↓47.4% | $1.1B↓2.8% | $1.1B↑2.8% | $1.1B |
Net Income | $4.6B | $875.0M↓38.7% | $1.4B↑29.7% | $1.1B↓6.3% | $1.2B↑144.1% | $481.0M↓61.9% | $1.3B↑23.2% | $1.0B↑9.1% | $940.0M |
Operating Cash Flow | $4.7B | $-1.7B↓142.5% | $3.9B↑150.3% | $1.6B↑79.4% | $868.0M↑155.5% | $-1.6B↓160.7% | $2.6B↑136.3% | $1.1B↓23.4% | $1.4B |
Free Cash Flow | $3.3B | $-1.8B↓156.4% | $3.2B↑157.6% | $1.3B↑97.2% | $637.0M↑135.0% | $-1.8B↓203.3% | $1.8B↑141.4% | $730.0M↓33.9% | $1.1B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
21.3x
Volatile
8Q: 71.8x+1569%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
21.3x
vs – sector
Cash Flow
33.4x
EV/FCF vs –
Growth-Adj
0.8xPEG
Undervalued for growth
Quality-Adj
1.6P/E per %ROIC
ROIC: 12.9%
Shareholder Returns
Dividend
1.4%
Buyback
1.2%
Total Yield
2.6%
Market Cap$97.48B
EV$110.46B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
96/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
28.5%
8Q:–
Return on Invested Capital (ROIC)Top 25%
12.9%
8Q:–
Flat
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 9.6%
Asset Turnover: 0.85x
Earnings Quality
Cash Conversion
1.02x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover1.36x
Working Capital
Cash Conversion Cycle16 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
65/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
5.0%
OpInc Growth YoY
72.6%
EPS Growth YoY
26.0%
FCF 3Y CAGR
40.7%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
11.6%
Above Avg in sector
Net
10.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-3.0 pts
FCF: 7.8% | Net: 10.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $13.08B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.89x
Balance sheet risk & solvency analysis