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Northrop Grumman NOC Free cash flow margin

Free cash flow margin at other companies

Boeing logo
BoeingBA
-11.3%+15.2pp
General Dynamics logo
General DynamicsGD
11.5%+4.7pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
9.4%+2.8pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
6.7%+0.6pp
Lockheed Martin logo
Lockheed MartinLMT
7.7%+0.8pp
Leidos Holdings logo
Leidos HoldingsLDOS
10.7%+3.5pp

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
Debt / equity-0.1×
Current ratio1.2×+0.2×

Where this comes from

Calculated from Northrop Grumman’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
Northrop Grumman (NOC) reported free cash flow margin of 7.8% in Q1 2026.
How has Northrop Grumman's free cash flow margin changed year-over-year?
Northrop Grumman's free cash flow margin increased by 77.3% year-over-year, from 4.4% to 7.8%.
What is the long-term trend for Northrop Grumman's free cash flow margin?
Over 4 years (2021 to 2025), Northrop Grumman's free cash flow margin has grown at a -9.6% compound annual growth rate (CAGR), from 29.9% to 20%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.