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NOC

Northrop Grumman
$534.00
+4.57% Oct 20 close
IndustrialsS&P 500
-20%-8%+4%+16%+29%Oct 2025Oct 2026Apr 2026
NOCSPY
1W
+10.9%
1M
+1.3%
3M
+4.7%
6M
-11.8%
YTD
-5.2%
1Y
-9.8%

Live chart

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What they do

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.

Industrials · Aerospace & Defense

For information only · Important disclosures

Grades vs sector

Momentum
20th percentile in sector
D
12-1 return: -15.8%
Percentile within its GICS sector across the S&P 1500.
Growth
28th percentile in sector
D+
Revenue growth (YoY): +5.1%
Percentile within its GICS sector across the S&P 1500.
Value
57th percentile in sector
B-
Forward E/P: 5.8% · EBITDA/EV: 8.2%
Percentile within its GICS sector across the S&P 1500.
Profitability
69th percentile in sector
B
Profit margin: +10.5% · Return on equity: +27.0%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
ranked 400 of 499 · 12-month momentum -10.0%
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Why Northrop Grumman Stock Rallied Today
Nasdaq · 21h ago
Northrop Grumman: 3 Key Takeaways for Long-Term Investors
Nasdaq · Oct 20
Corporate Earnings Remain Solid Despite Geopolitical Uncertainty. Stocks Mostly Climbed.
International Business Times · Oct 20
Northrop Grumman (NOC) Q3 2026 Earnings Call Transcript
Nasdaq · Oct 20
RTX vs NOC: valuation, earnings beats, and which defense stock offers more value
Investing.com · Oct 20

Key stats

52-week range$473.46 – $761.19
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -2 (DCF counts double).
▼DCF (base case)below the price by 29%
•Piotroski F-score6/9
•Net debt / EBITDA1.9x

Discounted cash flow

Bear
$211
-60%
growth -0% · disc. 10.2% · term. 2.0%
Base
$380
-29%
growth 5% · disc. 9.2% · term. 2.5%
Bull
$611
+14%
growth 8% · disc. 8.2% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Not enough data to run a reverse DCF.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-09-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.00 (n/a) × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Industrials

P/E (trailing)
sector median 26.4×
–
Forward P/E
sector median 17.1×
–
EV / EBITDA
sector median 14.8×
–
Price / sales
sector median 2.1×
–
Price / book
sector median 3.5×
–
FCF yield
sector median 4.5%
–

Backlog (remaining performance obligations)

RPO
$109.6B
as of 2026-09-30
vs a year ago
+20%
YoY
× TTM revenue
2.51×
coverage
24-12
25-03
25-06
25-09
25-12
26-03
26-06
26-09

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
–
Operating margin
10.6%
FCF margin
8.8%
Net margin
10.4%
Return on equity
24.2%
Return on invested capital
13.2%
Net debt / EBITDA
1.9×
Current ratio
1.2×
Interest cover
–
Cash conversion (OCF/NI)
1.2×
Piotroski F-score 6/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

No analyst targets available.

Annual history

FYRevenueNet incomeFree cash flow
2025$42.0B$4.2B$3.3B
2024$41.0B$4.2B$2.6B
2023$39.3B$2.1B$2.1B
2022$36.6B$4.9B$1.5B
2021$35.7B$7.0B$2.2B
2020$36.8B$3.2B$2.9B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +4.7%.

Earnings

Next report: 2027-01-26 · before open · EPS est 7.94
25-0125-0425-0725-1026-0126-0426-0726-100.008.15
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-10-207.187.89+9.9%
2026-07-216.827.68+12.7%
2026-04-216.066.14+1.3%
2026-01-276.967.23+3.8%
2025-10-216.467.67+18.8%
2025-07-226.808.15+19.9%
2025-04-226.263.32-47.0%
2025-01-306.356.39+0.7%
Insider trades
Welsh Mark A Iii
Director · 2026-08-03
SELL
$2.2K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$1.1K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$1.1K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$1.1K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$3.3K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$5.5K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$17.0K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$6.0K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$10.4K
Welsh Mark A Iii
Director · 2026-08-03
SELL
$4.4K
None
None · None
SELL
–
None
None · None
SELL
–

Stats refreshed 2026-10-21 18:15:40 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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coteau

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026