NOC
Northrop Grumman Corporation

Northrop Grumman CorporationNOC

Industrials · Aerospace & Defense
525.01USD
-0.05%
Nov 08, 2026
NOC overview ready
Prime Contractor Supplying Missile-Defense and Precision Munitions Systems
Northrop Grumman is a diversified prime contractor and critical industrial supplier with direct exposure to missile-defense, interceptor, tactical-solid-rocket-motor, precision-munition and strategic-deterrence programs, alongside major aerospace, mission-system and space businesses.
Primary theme is lagging
Defense / Drones is lagging (+0.2pp vs SPY over 21 sessions; 13 of 25 members ahead of SPY).
An early price trend
Longer-term context reads early trend, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on U.S. Government defense budgets and procurement cycles.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 14

Conviction Level

PriceAction6.6BusinessPerformance5.0BusinessQuality7.6Valuation4.5ThemeMomentum1.0Stable — Revenue is growing at a steady pace (+6.7% year over year). Diluted EPS is roughly flat year over year at $7.89. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+0.2pp
Theme return
−4.8%
Beating SPY
13 of 25
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

An early price trend
Longer-term context reads early trend, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock sits close to its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly SMA200. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$74.6B
Avg Volume (60D)
1.0M
60 sessions
Revenue Growth YoY
+2.2%
FY2025 vs FY2024
Gross Margin
+20.0%
Trailing twelve months
Operating Margin
+10.6%
Trailing twelve months
Free Cash Flow Yield
+5.1%
Distance from 200DMA
-10.2%
Next Earnings
2027-01-26
P/E
16.5x
EV / EBITDA
14.0x
EV / Sales
2.0x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Stable

Revenue is growing at a steady pace (+6.7% year over year). Diluted EPS is roughly flat year over year at $7.89.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+6.7%
$11.1B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +9.6%
  2. +4.4%
  3. +5.1%
  4. +6.7%
Earnings growthFlat
+2.9%
Diluted EPS $7.89 vs $7.67 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +15%
  2. +85%
  3. -5.8%
  4. +2.9%
Operating marginStable
11.4%
-0.5 pp YoY

Business Quality

7.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

All three valuation perspectives agree this company is fair.
Northrop Grumman Corporation has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Northrop Grumman is a diversified prime contractor and critical industrial supplier with direct exposure to missile-defense, interceptor, tactical-solid-rocket-motor, precision-munition and strategic-deterrence programs, alongside major aerospace, mission-system and space businesses.
Opportunity
Moderate opportunity
U.S. Allied procurement to replenish missile, air-defense and precision-munition inventories while expanding the industrial capacity needed to produce interceptors, propulsion, guidance and integrated missile-defense systems.
Key risk
Dependence on U.S. Government defense budgets and procurement cycles.

Economic classification

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Business & Markets

Industrials · Aerospace & Defense
What they do

Northrop Grumman designs, develops, produces, integrates, sustains, and modernizes aerospace and defense systems across aeronautics, defense, mission, and space segments globally.

How it earns

The company generates revenue primarily through long-term contracts and project-based sales to government and allied defense customers.

Products & services
Aircraft systems including unmanned autonomous aircraft
Missile-defense and interceptor systems
Tactical solid rocket motors
Precision munitions
Space systems and mission technologies
Customers & end markets
U.S. Department of Defense
Allied international defense agencies
Government space agencies
Market position

Leader in aerospace and defense prime contracting with diversified capabilities across multiple defense domains.

Demand drivers
Medium cyclicality

Defense spending is influenced by government budgets and geopolitical tensions but tends to be more stable than commercial aerospace.

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