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Northrop Grumman NOC Debt-to-equity

Debt-to-equity at other companies

Boeing logo
BoeingBA
10.4×
General Dynamics logo
General DynamicsGD
0.4×-0.1×
Raytheon Technologies logo
Raytheon TechnologiesRTX
0.6×-0.1×
L3Harris Technologies logo
L3Harris TechnologiesLHX
0.6×-0.1×
Lockheed Martin logo
Lockheed MartinLMT
2.8×-0.3×
Leidos Holdings logo
Leidos HoldingsLDOS
1.3×0.0×

Other financials

Income statement

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Revenue$9.9B+4.4%
Operating income$989.0M+72.6%
Net income$875.0M+81.9%
EPS (diluted)$6.14+84.9%

Balance sheet

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Cash & equivalents$2.1B+24.0%
Total debt$17.1B+2.7%
Total equity$17.1B+14.2%
Total assets$50.0B+3.2%

Cash flow

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Operating cash flow-$1.7B-5.8%
CapEx$167.0M-34.8%
Free cash flow-$1.8B-0.1%

Valuation

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Market cap$78.14B+30.6%
Enterprise value$93.12B+25.5%
P/E17.1×+1.0×
P/S1.8×+0.4×

Profitability

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Operating margin11.6%+2.0pp
Net margin10.8%+1.6pp

Returns & leverage

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Return on equity28.5%+3.1pp
Current ratio1.2×+0.2×

Where this comes from

Calculated from Northrop Grumman’s reported figures.

Based on the most recent quarter.

The official record: Northrop Grumman’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northrop Grumman's debt-to-equity?
Northrop Grumman (NOC) reported debt-to-equity of 1× in Q1 2026.
How has Northrop Grumman's debt-to-equity changed year-over-year?
Northrop Grumman's debt-to-equity decreased by 10.1% year-over-year, from 1.1× to 1×.
What is the long-term trend for Northrop Grumman's debt-to-equity?
Over 4 years (2021 to 2025), Northrop Grumman's debt-to-equity has grown at a -3.0% compound annual growth rate (CAGR), from 5× to 4.4×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.