Northrop Grumman Corp (NOC)
Industrials · Aerospace & Defense · US stock · S&P 500 component
$519.86
▲ +20.23 (4.05%)
Fair valueFair
$650 +25.0% to fair value
$325fair band $455–$845$975
Day's range
$503.75 – $520.57
52-week range
$470.06 – $767.12
About Northrop Grumman Corp
Northrop Grumman is a defence and aerospace contractor that builds aircraft, space systems, missile defence and mission systems, and provides cyber and electronic warfare capabilities. Its main customer is the United States government, along with allied governments, and it earns money from long-term contracts for developing and producing systems and for maintaining them. Defence budgets and programme execution therefore shape its results.
Over the latest twelve months the company reported revenue of $42.9 billion, with growth of 4.7% a year across three years. It reports an operating margin of 10.7%, with return on invested capital of 13%. Leverage, measured as net debt to EBITDA, is 2.1 times. A dividend is paid, with a yield of 1.8%. Overall, it receives an X-Ray Score of 50 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $470.06 – $767.12Volume 1,319,947Daily, split-adjusted
Vitals
Market cap$74.0B
52-week range$470.06 – $767.12
Volume (last day)1,319,947
P/E (TTM)16.5
EBIT / EV yield5.3%
Free-cash-flow yield4.9%
Dividend yield1.8%
Revenue (TTM)$42.9B
Net income (TTM)$4.5B
Operating margin10.7%
Return on capital12.8%
Debt incl. leases$15.2B
Cash & securities$2.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$650model spread $625 – $677
Fair
+25.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $520
Undervalued < $455Fair $455 – $845Overvalued > $845
10-year DCF (market-scaled)
$467
Peer multiples
$654
Earnings power floor (not blended)
$224
Fundamentals-adjusted multiple
$829
Growth the price implies
11.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Fair
68/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield5.3%
Free-cash-flow yield4.9%
Fair value vs price1.3×
Growth
Weak
48/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)4.7%
EPS growth (3y)-2.6%
Growth consistency90%
Profitability
Weak
29/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital12.8%
Operating margin10.7%
Financial health
Fair
55/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.1×
Interest coverNo interest cost
Dividends
Fair
57/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.8%
Dividends vs free cash flow37%
Dividend growth7.1%
Quarterly results: last 6 quarters
-6.6%
Mar '25
+1.3%
Jun '25
+4.3%
Sep '25
+9.6%
Dec '25
+4.4%
Mar '26
+5.1%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $10.9B, diluted EPS $7.68.
Compare with peers
GD General Dynamics Corp69 TXT Textron Inc65 LHX L3harris Technologies,...59 LMT Lockheed Martin Corp57Other Aerospace & Defense companies by X-Ray Score.
Fundamentals checklist
● 5 Good · ● 7 Average · ● 3 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Good
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioAverage
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 49/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $35.7B | $36.6B | $39.3B | $41.0B | $42.0B |
| Operating income | $5.7B | $3.6B | $2.5B | $4.4B | $4.5B |
| Net income | $7.0B | $4.9B | $2.1B | $4.2B | $4.2B |
| Operating cash flow | $3.6B | $2.9B | $3.9B | $4.4B | $4.8B |
| Operating margin | 15.8% | 9.8% | 6.5% | 10.6% | 10.8% |
| Free cash flow | $2.2B | $1.5B | $2.1B | $2.6B | $3.3B |
| Diluted EPS | $43.54 | $31.47 | $13.53 | $28.34 | $29.08 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
6 bullish · 2 neutral · 8 bearish
Weekly
Strongly bearish
2 bullish · 1 neutral · 9 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 487.9 | Bullish |
| EMA 10 | 495.2 | Bullish |
| SMA 20 | 495.2 | Bullish |
| EMA 20 | 498.4 | Bullish |
| SMA 50 | 525.4 | Bearish |
| EMA 50 | 514.7 | Bullish |
| SMA 100 | 529.3 | Bearish |
| EMA 100 | 534.7 | Bearish |
| SMA 200 | 589.9 | Bearish |
| EMA 200 | 554.3 | Bearish |
Oscillators (daily)
| RSI (14) | 59.07 | Neutral |
| MACD (12, 26) | -7.06 | Bearish |
| Momentum (12) | 7.52 | Bullish |
| Stochastic %K (14) | 98.59 | Bearish |
| Williams %R (14) | -1.41 | Bearish |
| CCI (20) | 87.80 | Neutral |
Pivot points (classic, last session)
S3 492.1 | S2 497.9 | S1 508.9 | Pivot 514.7 | R1 525.7 | R2 531.5 | R3 542.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
9.56 USD
Yield on today's price
1.84%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 31 Aug 2026 | 2.4700 |
| 1 Jun 2026 | 2.4700 |
| 23 Feb 2026 | 2.3100 |
| 1 Dec 2025 | 2.3100 |
| 2 Sep 2025 | 2.3100 |
| 2 Jun 2025 | 2.3100 |
| 3 Mar 2025 | 2.0600 |
| 2 Dec 2024 | 2.0600 |
| 3 Sep 2024 | 2.0600 |
| 24 May 2024 | 2.0600 |
| 23 Feb 2024 | 1.8700 |
| 24 Nov 2023 | 1.8700 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
NOC SEC filings
21 Aug 2026
8-KSEC EDGAR
Director or officer change
21 Jul 2026
10-QSEC EDGAR
Quarterly report
21 Jul 2026
8-KSEC EDGAR
Results of operations
21 May 2026
8-KSEC EDGAR
Shareholder vote results
21 Apr 2026
10-QSEC EDGAR
Quarterly report
21 Apr 2026
8-KSEC EDGAR
Results of operations
3 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
13 Feb 2026
8-KSEC EDGAR
Director or officer change
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.