Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. It operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems. The Aeronautics Systems segment designs, develops, produces, integrates, sustains, and modernizes aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic, surveillance and reconnaissance systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems. Its Defense Systems segment designs, develops, integrates, and produces strategic deterrent systems, tactical weapons, and missile defense solutions; and provides sustainment, modernization, and training services for manned and unmanned aircraft and electronics systems. This segment also offers strategic missiles; integrated all-domain command and control systems; precision strike weapons; tactical solid rocket motors, and high-speed air-breathing and hypersonic systems; high-performance gun systems, ammunition, precision munitions, and advanced fuzes; and sustainment, operation, and modernization. The Mission Systems segment provides command, control, communication and computer, intelligence, surveillance, and reconnaissance systems; radar, electro-optical/infrared, and acoustic sensors; electronic warfare systems; advanced communications and network systems; microelectronics; navigation and positioning sensors; maritime power, propulsion, and payload launch systems; cyber solutions; and intelligence processing systems. Its Space Systems segment offers satellites, spacecraft systems, subsystems, sensors, and payloads; ground systems; missile defense systems and interceptors; and launch vehicles and related propulsion systems. The company was founded in 1939 and is based in Falls Church, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $42.0B | $7.2B | $4.2B | $3.3B | 25.1% | 2.2% | 0.2% |
| 2024 | $41.0B | $7.0B | $4.2B | $2.6B | 27.3% | 4.4% | 103.0% |
| 2023 | $39.3B | $4.2B | $2.1B | $2.1B | 13.9% | 7.3% | -58.0% |
| 2022 | $36.6B | $7.7B | $4.9B | $1.5B | 32.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 36,602 | 39,290 | 41,033 | 41,954 |
| Operating Revenue | - | 36,602 | 39,290 | 41,033 | 41,954 |
| Cost Of Revenue | - | 29,128 | 32,739 | 32,671 | 33,641 |
| Gross Profit | - | 7,474 | 6,551 | 8,362 | 8,313 |
| Operating Expense | - | 3,873 | 4,014 | 3,992 | 4,033 |
| Selling General And Administration | - | 3,873 | 4,014 | 3,992 | 4,033 |
| Total Expenses | - | 33,001 | 36,753 | 36,663 | 37,674 |
| Operating Income | - | 3,601 | 2,537 | 4,370 | 4,280 |
| Total Operating Income As Reported | - | 3,601 | 2,537 | 4,370 | 4,511 |
| EBITDA | - | 7,684 | 4,229 | 7,007 | 7,205 |
| Normalized EBITDA | - | 7,684 | 4,229 | 7,007 | 6,974 |
| EBIT | - | 6,342 | 2,891 | 5,637 | 5,733 |
| Interest Expense | - | 506 | 545 | 621 | 665 |
| Net Interest Income | - | -506 | -545 | -621 | -665 |
| Other Non Operating Income Expenses | - | 2,741 | 354 | 1,267 | 1,222 |
| Other Income Expense | - | 2,741 | 354 | 1,267 | 1,453 |
| Interest Expense Non Operating | - | 506 | 545 | 621 | 665 |
| Net Non Operating Interest Income Expense | - | -506 | -545 | -621 | -665 |
| Pretax Income | - | 5,836 | 2,346 | 5,016 | 5,068 |
| Tax Provision | - | 940 | 290 | 842 | 886 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 40.42 |
| Net Income Continuous Operations | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Net Income From Continuing And Discontinued Operation | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Net Income From Continuing Operation Net Minority Interest | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Net Income | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Net Income Common Stockholders | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Net Income Including Noncontrolling Interests | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Normalized Income | - | 4,896 | 2,056 | 4,174 | 3,991.42 |
| Diluted NI Availto Com Stockholders | - | 4,896 | 2,056 | 4,174 | 4,182 |
| Basic Average Shares | - | 154.90 | 151.50 | 147 | 143.50 |
| Diluted Average Shares | - | 155.60 | 152 | 147.30 | 143.80 |
| Reconciled Depreciation | - | 1,342 | 1,338 | 1,370 | 1,472 |
| Reconciled Cost Of Revenue | - | 29,128 | 32,739 | 32,671 | 33,641 |
| Total Unusual Items | - | 0 | 0 | 0 | 231 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | 0 | 231 |
| Special Income Charges | - | 0 | 0 | 0 | 231 |
| Gain On Sale Of Business | - | 0 | 0 | 0 | 231 |
| General And Administrative Expense | - | 3,873 | 4,014 | 3,992 | 4,033 |
| Other Gand A | - | 3,873 | 4,014 | 3,992 | 4,033 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Northrop Grumman Corporationthis co. | NOC | $77.4B | 18.52β discount | 4.64 | 25.1% | 12.50 |
| CSX Corporation | CSX | $85.9B | 29.73 | 6.53 | 22.0% | 16.62 |
| 3M Company | MMM | $79.7B | 24.52 | 16.95 | 69.1% | 13.46 |
| Emerson Electric Co. | EMR | $79.6B | 34.70 | 3.92 | 11.3% | 18.97 |
| FedEx Corporation | FDX | $78.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| 19.13 |
| 2.79 |
| 14.6% |
| 10.50 |
| Illinois Tool Works Inc. | ITW | $72.2B | 23.56 | 22.40 | 95.1% | 17.32 |
| Cintas Corporation | CTAS | $72.0B | 39.73 | 15.37 | 38.7% | 26.02 |
| Norfolk Southern Corporation | NSC | $69.0B | 24.01 | 4.44 | 18.5% | 14.49 |
| TransDigm Group Incorporated | TDG | $68.7B | 33.12 | -7.09 | -21.4% | 21.00 |
| Peer Median | - | 27.13 | 5.48 | 20.2% | 16.97 | |