Stock NOC NORTHROP GRUMMAN CORPORATION
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Financials Northrop Grumman Corporation

Equities

NOC

US6668071029

Aerospace & Defense

Market Closed - Nyse
Other stock markets
 16:00:01 2024-04-26 EDT 		5-day change 1st Jan Change
480.4 USD -1.56% Intraday chart for Northrop Grumman Corporation +3.86% +2.63%
04-26 US Homeland Security names AI safety, security advisory board RE
04-26 US announces purchase of $6 bln in weapons for Ukraine RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 57,970 50,802 61,365 83,976 70,592 71,102 - -
Enterprise Value (EV) 1 68,495 60,156 70,612 93,204 81,269 82,267 82,360 82,308
P/E ratio 26 x 16 x 8.89 x 17.3 x 34.6 x 19.5 x 17.5 x 16.6 x
Yield 1.5% 1.86% 1.59% 1.24% - 1.63% 1.78% 1.92%
Capitalization / Revenue 1.71 x 1.38 x 1.72 x 2.29 x 1.8 x 1.73 x 1.65 x 1.57 x
EV / Revenue 2.02 x 1.63 x 1.98 x 2.55 x 2.07 x 2 x 1.91 x 1.82 x
EV / EBITDA 13.7 x 11.3 x 10.2 x 18.9 x 15.2 x 14.5 x 13.5 x 13 x
EV / FCF 22.6 x 20.9 x 32.8 x 63.6 x 38.7 x 33.7 x 27.6 x 25.2 x
FCF Yield 4.43% 4.8% 3.05% 1.57% 2.58% 2.96% 3.62% 3.97%
Price to Book 6.55 x 4.8 x 4.67 x 5.46 x 4.75 x 4.72 x 4.38 x 4.04 x
Nbr of stocks (in thousands) 168,533 166,716 158,538 153,912 150,793 147,990 - -
Reference price 2 344.0 304.7 387.1 545.6 468.1 480.4 480.4 480.4
Announcement Date 20-01-30 21-01-28 22-01-27 23-01-26 24-01-25 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 33,841 36,799 35,667 36,602 39,290 41,085 43,135 45,278
EBITDA 1 4,987 5,332 6,890 4,943 5,330 5,673 6,119 6,342
EBIT 1 3,969 4,065 5,651 3,601 3,992 4,259 4,672 4,865
Operating Margin 11.73% 11.05% 15.84% 9.84% 10.16% 10.37% 10.83% 10.75%
Earnings before Tax (EBT) 1 2,548 3,728 8,938 5,836 2,346 4,392 4,818 4,994
Net income 1 2,248 3,189 7,005 4,896 2,056 3,647 3,990 4,135
Net margin 6.64% 8.67% 19.64% 13.38% 5.23% 8.88% 9.25% 9.13%
EPS 2 13.22 19.03 43.54 31.47 13.53 24.58 27.43 28.99
Free Cash Flow 1 3,033 2,885 2,152 1,466 2,100 2,438 2,983 3,269
FCF margin 8.96% 7.84% 6.03% 4.01% 5.34% 5.93% 6.91% 7.22%
FCF Conversion (EBITDA) 60.82% 54.11% 31.23% 29.66% 39.4% 42.98% 48.74% 51.54%
FCF Conversion (Net income) 134.92% 90.47% 30.72% 29.94% 102.14% 66.86% 74.75% 79.06%
Dividend per Share 2 5.160 5.670 6.160 6.760 - 7.848 8.529 9.212
Announcement Date 20-01-30 21-01-28 22-01-27 23-01-26 24-01-25 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 8,639 8,797 8,801 8,971 10,033 9,301 9,576 9,775 10,638 10,133 10,035 10,184 10,888 10,476 10,524
EBITDA 1 1,073 1,200 1,284 1,171 1,288 1,245 1,290 1,333 1,462 1,370 1,389 1,410 1,541 1,436 1,467
EBIT 1 742 897 954 844 906 947 967 1,016 1,062 1,071 1,032 1,044 1,139 1,111 1,126
Operating Margin 8.59% 10.2% 10.84% 9.41% 9.03% 10.18% 10.1% 10.39% 9.98% 10.57% 10.28% 10.26% 10.46% 10.61% 10.7%
Earnings before Tax (EBT) 1 3,345 1,144 1,150 1,090 2,452 998 987 1,118 -757 1,131 1,070 1,079 1,163 1,156 1,180
Net income 1 2,710 955 946 915 2,080 842 812 937 -535 944 883.5 897.3 968.2 956.1 978.5
Net margin 31.37% 10.86% 10.75% 10.2% 20.73% 9.05% 8.48% 9.59% -5.03% 9.32% 8.8% 8.81% 8.89% 9.13% 9.3%
EPS 2 17.14 6.100 6.060 5.890 13.46 5.500 5.340 6.180 -3.540 6.320 5.950 6.077 6.637 6.526 6.713
Dividend per Share 2 1.570 1.570 1.730 1.730 1.730 1.730 1.870 - - - 1.975 1.975 1.975 2.007 2.106
Announcement Date 22-01-27 22-04-28 22-07-28 22-10-27 23-01-26 23-04-27 23-07-27 23-10-26 24-01-25 24-04-25 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,525 9,354 9,247 9,228 10,677 11,166 11,259 11,206
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.11 x 1.754 x 1.342 x 1.867 x 2.003 x 1.968 x 1.84 x 1.767 x
Free Cash Flow 1 3,033 2,885 2,152 1,466 2,100 2,438 2,983 3,269
ROE (net income / shareholders' equity) 26.4% 32.9% 35.1% 28.1% 13.7% 24.3% 25.7% 25.5%
ROA (Net income/ Total Assets) 5.71% 7.5% 9.47% 9.21% 5.37% 7.57% 8.31% 8.82%
Assets 1 39,371 42,520 73,948 53,182 38,266 48,173 48,037 46,853
Book Value Per Share 2 52.50 63.50 82.90 100.0 98.60 102.0 110.0 119.0
Cash Flow per Share 2 17.80 17.20 13.40 18.60 13.80 22.30 25.50 28.90
Capex 1 1,264 1,420 1,415 1,435 1,775 1,795 1,651 1,533
Capex / Sales 3.74% 3.86% 3.97% 3.92% 4.52% 4.37% 3.83% 3.39%
Announcement Date 20-01-30 21-01-28 22-01-27 23-01-26 24-01-25 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Northrop Grumman Corporation

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
480.4 USD
Average target price
496.7 USD
Spread / Average Target
+3.38%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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