NOC
Northrop Grumman Corporation

Northrop Grumman CorporationNOC

Industrials · Aerospace & Defense
509.86USD
-3.19%
Sep 23, 2026
NOC overview ready
Diversified defense prime contractor and systems integrator with direct missile-defense, strategic-deterrence, precision-weapons, propulsion, battle-management, sensing, military-aircraft and national-security-space exposure.
Strong narrative exposure
Exposed to the Defense Rearmament and Industrial Base narrative through Munitions and Missile Defense Replenishment — enabling supplier.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on U.S. Government defense budgets.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 9

Conviction Level

NarrativeHeat8.3ThemeHeat8.4PriceAction5.4Valuation8.9CompanyPosition9.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$72.4B
Avg Volume (60D)
754.7K
60 sessions
Revenue Growth YoY
+2.2%
FY2025 vs FY2024
Gross Margin
+20.1%
Trailing twelve months
Operating Margin
+10.7%
Trailing twelve months
Free Cash Flow Yield
+5.0%
Distance from 200DMA
-14.4%
Next Earnings
2026-10-20
P/E
16.1x
EV / EBITDA
13.9x
EV / Sales
2.0x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

One of the two valuation perspectives says cheap; intrinsic is the dissenting view.
Northrop Grumman Corporation has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

What changed

  • Northrop Grumman (NOC) Stock May Be 21% Undervalued Following Sentinel Missile Progress
    Dated 2026-09-16.
    2026-09-16 · source
  • Northrop Grumman (NOC) Secures $4.8 Billion Army Contract. Execution Is the Bigger Test
    Dated 2026-09-15.
    2026-09-15 · source
  • Kratos MUX TACAIR Win With Northrop Grumman Could Be A Game Changer For Northrop (NOC)
    Dated 2026-08-31.
    2026-08-31 · source
  • Northrop Grumman (NOC) Stock Could Trade At A 19% Discount On Raised Guidance
    Dated 2026-08-31.
    2026-08-31 · source

Company Research

Thesis
Diversified defense prime contractor and systems integrator with direct missile-defense, strategic-deterrence, precision-weapons, propulsion, battle-management, sensing, military-aircraft and national-security-space exposure. So this is an adjacent rather than direct active match.
Opportunity
Moderate opportunity
U.S. Allied procurement to replenish missile, air-defense, strategic-deterrent and precision-strike inventories while expanding production capacity for contested-environment weapons and integrated missile-defense systems.
Key risk
Dependence on U.S. Government defense budgets.

Narrative & Theme

Defense Rearmament and Industrial Base
Part of Munitions and Missile Defense Replenishment, with moderate fit.
So this is an adjacent rather than direct active match.
Narrative HeatHeating up8.3 / 10
Theme HeatHeating up8.4 / 10

Business & Markets

Industrials · Aerospace & Defense
What they do

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

How it earns

The company generates revenue primarily through project-based contracts with government and defense customers.

Products & services
Manned and unmanned aircraft systems
Defense electronics and mission systems
Space systems and launch vehicles
Customers & end markets
U.S. government and military
International defense agencies
Market position

Leader in aerospace and defense technology with a diversified portfolio across multiple defense segments.

Demand drivers
Medium cyclicality

Dependent on government defense budgets which can fluctuate with political and economic cycles.