Income StatementBalance SheetCash FlowSegments
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Northrop Grumman Cash Flow Statement

Operating, investing, and financing cash movements

Northrop Grumman generated $4.7B in operating cash flow over the trailing twelve months. After $1.4B in capital expenditures, free cash flow was $3.3B. Free cash flow increased 0.9% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$4.7BNet Cash From Investing (TTM)-$1.1BNet Cash From Financing (TTM)-$3.2BCapital Expenditures (TTM)$1.4BDepreciation And Amortization Cf (TTM)$1.5BNet Change In Cash (TTM)-$1.4B
Latest FilingQ1 2026
Report Date2026-04-21
Market Cap$78.9B
P/E Ratio17.24
ROE28.51%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Other non-cash income (expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Change in accounts payable$1.4B-$93.0M-$399.0M-$150.0M$1.3B-$559.0M
Change in accounts receivable-$337.0M$542.0M$387.0M——$431.0M
Change in deferred revenue-$30.8M-$358.0M———-$389.0M
Change in income taxes payable/receivable$37.0M$58.0M-$203.0M-$276.0M-$138.0M-$164.0M
Change in inventories—$125.0M-$23.0M$77.0M-$276.0M$144.0M
Deferred income taxes-$195.0M-$34.0M-$80.0M$458.0M$204.0M$308.0M
Depreciation and amortization$414.0M$337.0M$350.0M$379.0M$406.0M$372.0M
Pension and Other Postretirement Benefits Expense Reversal-$110.8M-$131.8M-$131.8M-$131.8M-$131.8M—
Other Non-Cash Income (Expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Other Non-cash Income (Expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Other Non-cash Income (Expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Net cash from operating activities$2.6B-$1.6B$868.0M$1.6B$3.9B-$1.7B
Net income$1.3B$481.0M$1.2B$1.1B$1.4B$875.0M
Other non-cash income (expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Increase (Decrease) in Contract with Customer, Asset—$1.1B$274.0M——$551.0M
Accrued liabilities-$218.8M-$563.0M———-$802.0M
Increase (Decrease) in Prepaid Expense and Other Assets-$50.0M$42.0M-$63.0M$50.0M-$37.0M$37.0M
Loss Contingency Loss In Period$0.0$477.0M———$0.0
Other Noncash Income (Expense)-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Payment for Pension and Other Postretirement Benefits$36.0M$28.0M$34.0M$32.0M$36.0M$33.0M
Pension and other postretirement income-$110.8M-$131.8M-$131.8M-$131.8M-$131.8M—
Other Non-cash Income and Expense-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Other Non-Cash Adjustments-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Other Non-Cash Income and Expense-$24.0M$3.0M-$13.0M$49.0M-$95.0M$1.0M
Net Periodic Pension Income-$99.0M-$81.0M-$88.0M-$87.0M-$90.0M-$120.0M
Stock-based compensation$29.0M$20.0M$20.0M$25.0M$54.0M$20.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$816.0M$256.0M$231.0M$301.0M$662.0M$167.0M
Payment for (Proceeds from) Other Investing Activity-$18.0M-$4.0M$41.0M$0.0$2.0M$1.0M
Proceeds from disposition of marketable securities and other investments$0.0$0.0$0.0$0.0$0.0—
Net cash from investing activities-$798.0M-$252.0M$0.0-$300.0M-$664.0M-$168.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$0.0$1.5B———$527.0M
Dividends paid$299.0M$302.0M$332.0M$330.0M$329.0M$333.0M
Other, net-$12.0M-$5.0M-$62.0M-$26.0M-$1.0M-$2.0M
Proceeds from (repayments of) short-term borrowings, net—$1.5B———$498.0M
Payment of Deferred Purchase Consideration-$12.0M-$5.0M-$62.0M-$26.0M-$1.0M-$2.0M
Noncontrolling interest transactions and other-$12.0M-$5.0M-$62.0M-$26.0M-$1.0M-$2.0M
Net cash from financing activities-$753.0M-$851.0M-$715.0M-$1.2B-$787.0M-$489.0M
Noncontrolling Interests Activity and Other-$12.0M-$5.0M-$62.0M-$26.0M-$1.0M-$2.0M
Repurchases of common stock$441.0M$480.0M$411.0M$277.0M$456.0M$68.0M
Taxes paid for net share settlement$1.0M$38.0M——$1.0M$57.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.8B-$1.8B$637.0M$1.3B$3.2B-$1.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Increase (decrease) in cash, cash equivalents, and restricted cash—-$2.7B———-$2.3B