Northrop Grumman Corporation (NOC)

NYSE: NOC · USD

$552

+1.05 (+0.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: NOC rated Hold

Northrop Grumman Corporation's published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$575 / share

Potential value

$821 / share

Upside to FV

+6.6%

from $552

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$76.6B
Revenue (ttm)	43.6B
Net income (ttm)	4.5B
EPS (ttm)	$31.7
Shares out	142.1M
P/E (trailing)	17.4x
P/E (forward)	17.0x
Dividend	$9.88 (1.79%)
Volume	554,503
Beta	-0.11

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 43.6B
Net income (ttm): 4.5B
EPS (ttm): $31.7
P/E (trailing): 17.4x
P/E (forward): 17.0x
Market cap: $76.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$35.67B	$36.60B	$39.29B	$41.03B	$41.95B	+4.1%
Gross profit	$7.27B	$7.47B	$39.29B	$8.36B	$8.31B	+3.4%
Operating income	$5.65B	$3.60B	$2.54B	$4.37B	$4.51B	-5.5%
Net income	$7.01B	$4.90B	$2.06B	$4.17B	$4.18B	-12.1%
EPS (diluted)	$43.54	$31.47	$13.53	$28.34	$29.08	-9.6%
EBITDA	$8.73B	$7.68B	$2.54B	$6.84B	$7.21B	-4.7%
R&D	$1.10B	$1.20B	$1.20B	$1.10B	$1.10B	+0.0%
SG&A	$3.60B	$3.87B	$4.01B	$3.99B	$4.03B	+2.9%

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ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	매도
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	비중 축소
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	보유
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	보유

Base and Bull scenarios

Bull20%

Price target

$820.75

+52.2% from spot

Accelerated transition from low-rate initial production to full-rate production across the B-21 Raider bomber and Sentinel ICBM programs expands segment operating margins toward 12.0%, while international allied defense demand drives sales growth at the upper bound of 7.0%, supporting an 8.5% annual EPS growth path and lifting intrinsic value toward $820.75.

High single-digit compound annual earnings per share growth
Revenue growth tracks the upper boundary of multi-year guidance ranges
Segment operating margins expand toward peak historical aerospace levels
Capital expenditures normalize as a lower percentage of sales following FY2027
European defense revenue expands at double-digit rate

Base60%

Price target

$574.82

+6.6% from spot

Northrop Grumman executes steadily against its $109.6 billion backlog, achieving full-year 2026 sales of $43.75B-$44.25B and 2027 top-line growth of 5% to 7%. Segment operating margins expand moderately from 11.3% in 2026 to 11.4%-11.6% by 2030, absorbing the $2.1 billion capex ramp in 2027 while adjusted free cash flow expands from $3.1B-$3.5B to $3.3B-$3.7B. Discounted at a 6.68% cost of equity, this yields a central fair value of $574.82 per share.

Revenue and segment operating margin deliver in line with full-year guidance targets for FY2026
Mid-single-digit revenue expansion alongside planned capital expenditure acceleration in FY2027
Adjusted free cash flow tracks multi-year guidance ranges across FY2026 and FY2027
Moderate cost of equity and terminal growth aligned with mature defense industry expansion
Share repurchases moderate to low single-digit annual share count reduction

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($574.82). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
5.7%	$622	$640	$659	$683	$710
6.2%	$584	$597	$612	$629	$648
6.7%	$554	$564	$575	$587	$602
7.2%	$528	$536	$545	$555	$566
7.7%	$507	$513	$520	$528	$536

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E17

P25 n/aP50 n/aP75 n/a

Trailing P/E17

P25 n/aP50 n/aP75 n/a

ROE26.1

P25 n/aP50 n/aP75 n/a

ROIC15.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All NOC indicators

Market & fundamental data

Available fields

294

Groups with data

Currency

USD

Showing 294 of 294 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001133421
Company name	Northrop Grumman Corporation
Country	United States
Country code	US
CUSIP number	666807102
Earnings date	2026-10-20
Earnings time	bmo
Employees	95,000
Employees change	-2,000
Employees growth	-2.06%
Enterprise value	$91.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1939
In index	SP500
Industry	Aerospace & Defense
Is primary listing	Yes
Is SPAC	No
ISIN number	US6668071029
Last 10-K release date	2026-01-27
Last earnings date	2026-10-20
Last refreshed	2026-10-28
Last stock split date	2004-06-22
Last stock split type	Forward
Market cap	$78.5B
Market cap category	Large-Cap
Next earnings date	2027-01-26
Options	Yes
Price	$552.28
Price currency	USD
Sector	Industrials
SIC code	3812
Stock price date	2026-10-28
Symbol	NOC
Tags	drones
U.S. state	Virginia
Website	https://www.northropgrumman.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	19.08x
Average P/E ratio (10Y)	18.53x
Average P/E ratio (3Y)	23.05x
Average P/E ratio (5Y)	19.23x
Earnings yield	5.74%
EV/Earnings	20.29x
EV/EBIT	15.84x
EV/EBITDA	12.54x
EV/FCF	23.95x
EV/Sales	2.1x
FCF / EV yield	4.18%
FCF yield	4.88%
Forward EV/Sales	1.99x
Forward P/E	18.71x
Forward P/S	1.7x
Graham number	306.31561
Graham upside	-44.55%
Industry forward P/E	38.65x
Industry P/E	78.67x
Lynch fair value	$158.55
Lynch upside	-71.3%
P/(FCF - SBC) ratio	21.21x
P/(OCF - SBC) ratio	15.28x
P/B ratio	4.19x
P/E ratio	17.42x
P/FCF ratio	20.5x
P/OCF ratio	14.9x
P/S ratio	1.8x
PEG ratio	3x
Price / tangible book value	63.14x
Price/EBITDA ratio	10.73x
Sector forward P/E	26.24x
Sector P/E	40.28x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	13.28%
EBITDA margin	16.78%
Effective tax rate	13.67%
FCF margin	8.78%
Gross margin	20.02%
Operating margin	13.28%
Pretax margin	12.01%
Profit margin	10.37%
Profit per employee	$47,579
Profitable quarters	11
Profitable years	17
Revenue per employee	$458,853
ROA	7.11%
ROA (5Y)	7.47%
ROCE	14.94%
ROE	26.07%
ROE (5Y)	32.37%
ROIC	15.38%
ROIC (5Y)	17.01%
SBC / revenue	0.3%
Tax / revenue	1.64%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	14.02%
EPS growth (Q)	2.87%
EPS growth (QoQ)	2.73%
EPS growth 10Y	10.47%
EPS growth 3Y	1.26%
EPS growth 5Y	2.27%
EPS growth quarters	1
EPS growth years	2
FCF growth	108.78%
FCF growth (Q)	14.57%
FCF growth (QoQ)	47.14%
FCF growth 3Y	22.32%
FCF growth 5Y	9.31%
Gross profit growth	9.81%
Gross profit growth (Q)	5.61%
Gross profit growth 3Y	3.43%
Gross profit growth 5Y	2.26%
Net income growth	12.47%
Net income growth (Q)	2.18%
Net income growth (QoQ)	2.74%
Net income growth 3Y	-1.09%
Net income growth 5Y	-0.46%
Net income growth quarters	1
Net income growth years	2
OCF growth	53.17%
OCF growth (Q)	12.08%
OCF growth (QoQ)	36.33%
OCF growth 10Y	6.09%
OCF growth 3Y	12.53%
OCF growth 5Y	7.16%
Operating income growth	13.58%
Operating income growth (Q)	4.21%
Operating income growth 3Y	-0.3%
Operating income growth 5Y	5.45%
Revenue growth	6.51%
Revenue growth (Q)	6.71%
Revenue growth (QoQ)	2.26%
Revenue growth 10Y	6.24%
Revenue growth 3Y	4.06%
Revenue growth 5Y	3.2%
Revenue growth quarters	6
Revenue growth years	4

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.4B
Depreciation and amortization	$1.5B
EBIT	$5.8B
EBITDA	$7.3B
EPS	$31.71
FCF per share	$26.95
Financing cash flow	$-2.5B
Free cash flow	$3.8B
Free cash flow minus SBC	$3.7B
Gross profit	$8.7B
Income taxes	$716M
Investing cash flow	$-978M
Net borrowing	$-527M
Net cash flow	$1.8B
Net income	$4.5B
Operating cash flow minus SBC	$5.1B
Operating income	$5.8B
Revenue	$43.6B
Stock-based compensation	$129M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.27
Book value per share	$131.51
Debt / EBITDA	2.21
Debt / equity	0.93
Debt / FCF	4.54
Goodwill	$17.4B
Interest coverage	8.82
Long-term assets	$35.5B
Long-term liabilities	$20.1B
Net cash (debt)	$-13.2B
Net cash / market cap	-16.86%
Net debt / EBITDA	1.81
Net debt / equity	0.71
Net debt / FCF	3.46
Piotroski F-Score	8
Property, plant and equipment	$12.6B
Shareholders' equity	$18.7B
Tangible book value	$1.2B
Tangible book value per share	$8.75
Total assets	$52.5B
Total cash	$3.7B
Total debt	$17.4B
Total liabilities	$33.8B
WACC	3.56%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.86
Current assets	$17B
Current liabilities	$13.8B
Current ratio	1.23
Inventory turnover	23.43
Net working capital	$244M
Quick ratio	1.07
Working capital	$3.2B
Working capital turnover	18.91

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.38%
Dividend growth	9.38%
Dividend growth (10Y)	10.89%
Dividend growth (3Y)	9.91%
Dividend growth (5Y)	9.62%
Dividend growth years	22
Dividend payment date	2026-09-16
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$9.88
Dividend yield	1.79%
Ex-dividend date	2026-08-31
FCF payout ratio	36.66%
Last dividend	$2.47
Payout ratio	31.16%
Shareholder yield	3.17%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	144.86%
10Y return CAGR	11.14%
10Y total return	187.54%
150-day SMA	$554.28
15Y price change	857.3%
15Y return CAGR	18.48%
15Y total return	1,172.48%
1D price change	0.19%
1M price change	8.08%
1M total return	8.08%
1W price change	3.33%
1W total return	3.33%
1Y price change	-7.41%
1Y return CAGR	-5.9%
1Y total return	-5.9%
20-day SMA	$509.78
200-day SMA	$591.85
20Y price change	735.92%
20Y return CAGR	14.15%
20Y total return	1,309.92%
3M price change	0.77%
3M total return	1.23%
3Y price change	16.64%
3Y return CAGR	7.03%
3Y total return	22.62%
50-day SMA	$520.85
50-day SMA vs 200-day SMA	50under200
52-week high	$774.00
52-week high date	2026-03-03
52-week low	$470.06
52-week low date	2026-10-02
5Y price change	42.16%
5Y return CAGR	9.05%
5Y total return	54.18%
6M price change	-4.08%
6M total return	-3.22%
All-time high	$774.00
All-time high date	2026-03-03
All-time low	$0.78
All-time low date	1973-12-06
Average true range (ATR)	$13.85
Average volume	1.1M
Beta (1Y)	0.3
Beta (2Y)	0.25
Beta (5Y)	-0.11
Change from 52-week high	-28.65%
Change from 52-week low	17.49%
Change from all-time high	-28.71%
Change from all-time low	70,842.4%
Change from open	0.78%
Day's gap	-0.59%
Dollar volume	$306.2M
High price	$555.00
Low price	$548.00
Monthly RSI	50.72
Open price	$548.00
Position in 52-week range	61.14%
Premarket change	-0.86%
Premarket close	$551.23
Premarket price	$546.50
Premarket volume	1.5K
Previous close	$551.23
Price vs 150-day SMA	-0.45%
Price vs 20-day SMA	8.24%
Price vs 200-day SMA	-6.77%
Price vs 50-day SMA	5.94%
Relative volume	0.51
RSI	63.55
Sharpe ratio	-0.22
Sharpe ratio (3Y)	0.22
Sharpe ratio (5Y)	0.28
Sortino ratio	-0.1
Sortino ratio (3Y)	0.53
Sortino ratio (5Y)	0.62
Volume	554.5K
Weekly RSI	50.5
YTD price change	-3.23%
YTD total return	-2.05%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	141.6M
Float percentage	99.68%
Shares change (QoQ)	0%
Shares change (YoY)	-1.38%
Shares held by insiders	0.18%
Shares held by institutions	84.31%
Shares outstanding	142.1M
Short % of float	1.61%
Short % of shares	1.6%
Short ratio	2.7 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	136

Deeper analysis on NOC

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this NOC report

What is the latest published NOC stock rating?

Northrop Grumman Corporation is shown with Hold in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full NOC analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/NOC/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for NOC?

The latest published report analyzed 2026-10-22 gives NOC a fair value of USD 575 and a potential value of USD 821. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the NOC page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldNOC · Fair value $575+6.6%

Read full analysis →

Northrop Grumman Corporation (NOC)

Our latest published analysis: NOC rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · NOC

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All NOC indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on NOC

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	5.0
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	7.5
Competitive Moat	9.0
Earnings Quality	6.0
Capital Efficiency	6.5