NOC
NORTHROP GRUMMAN CORP /DE/
Other • CIK: 0001133421
Loading...
Market Cap
$87.88B
P/E (TTM)
21.9x
Rev Growth (TTM)
-0.1%
Net Margin (TTM)
9.8%
FCF Yield (TTM)
2.1%
FCF Margin (TTM)
4.5%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$1.8B
Q3 '25
$1.3B+97%
Q2 '25
$637M+135%
FCF Margin
TTM4.5%
Q3 '2512.1%+96%
Sector: 4.1%Above Avg
OCF Margin8.4%
OCF/NI0.86x
CapEx Coverage2.1x
FCF Yield2.1%
FCF Growth (2Y)+49%
Cash Conversion Cycle
-171 days
DSO: 16+DIO: 281−DPO: 468
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.3%
Div Yield1.4%
+Buyback (TTM)1.8%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)1.4%
FCF Payout Ratio68.7%
Free Cash Flow (TTM)$1.8B
Stock Repurchases (TTM)$1.6B
Capital Return / FCF27.4%
Est. Dividends Paid (TTM)$1.3B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
11.8%
Moderate
+0.4% YoY+10.2%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
8.7%
8Q: 8.8%
Asset Turnover
0.83x
8Q: 0.85x
Leverage (1+D/E)
1.98x
D/E: 0.98x
DuPont: 14.4% ≈ 11.8% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
3.91x
8Q:4.09x
-57.8%
Invested Cap Turn
1.35x
8Q:1.34x
Flat
CapEx Intensity
5.3%
8Q:4.0%
CapEx/Depreciation
1.08x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $40.9B | $10.4B↑0.7% | $10.4B↑9.3% | $9.5B↓11.4% | $10.7B↑6.9% | $10.0B↓2.2% | $10.2B↑0.8% | $10.1B↓4.7% | $10.6B |
Operating Income | $4.3B | $1.2B↓12.8% | $1.4B↑148.7% | $573.0M↓47.4% | $1.1B↓2.8% | $1.1B↑2.8% | $1.1B↑1.8% | $1.1B↑372.5% | $-393.0M |
Net Income | $4.0B | $1.1B↓6.3% | $1.2B↑144.1% | $481.0M↓61.9% | $1.3B↑23.2% | $1.0B↑9.1% | $940.0M↓0.4% | $944.0M↑276.4% | $-535.0M |
Operating Cash Flow | $3.4B | $1.6B↑79.4% | $868.0M↑155.5% | $-1.6B↓160.7% | $2.6B↑136.3% | $1.1B↓23.4% | $1.4B↑301.8% | $-706.0M↓129.1% | $2.4B |
Free Cash Flow | $1.8B | $1.3B↑97.2% | $637.0M↑135.0% | $-1.8B↓203.3% | $1.8B↑141.4% | $730.0M↓33.9% | $1.1B↑213.2% | $-976.0M↓160.0% | $1.6B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
21.9x
Volatile
8Q: 71.8x+13786%
Valuation Lenses
Earnings
21.9x
vs – sector
Cash Flow
47.4x
EV/FCF vs –
Growth-Adj
0.3xPEG
Undervalued for growth
Quality-Adj
1.9P/E per %ROIC
ROIC: 11.8%
Shareholder Returns
Dividend
1.4%
Buyback
1.8%
Total Yield
3.3%
Market Cap$87.88B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
87/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
52.9%
8Q:–
Return on Invested Capital (ROIC)Top 25%
11.8%
8Q:–
+10.2%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 8.7%
Asset Turnover: 0.83x
Earnings Quality
Cash Conversion
0.86x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin95.1%
Capital Efficiency
Invested Capital Turnover1.35x
Working Capital
Cash Conversion Cycle-171 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
60/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-0.1%
OpInc Growth YoY
10.9%
EPS Growth YoY
71.4%
FCF 3Y CAGR
48.9%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
95.1%
Operating
10.6%
Above Avg in sector
Net
9.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-5.3 pts
FCF: 4.5% | Net: 9.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $13.74B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.98x
Balance sheet risk & solvency analysis