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Northrop Grumman NOC Free cash flow yield

Free cash flow yield at other companies

Boeing logo
BoeingBA
-5.6%+1.3pp
General Dynamics logo
General DynamicsGD
6.7%+2.1pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
3.3%+0.2pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
4.3%-1.3pp
Lockheed Martin logo
Lockheed MartinLMT
4.2%-0.6pp
Leidos Holdings logo
Leidos HoldingsLDOS
9.9%+3.3pp

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 yield?
Northrop Grumman (NOC) reported free cash flow yield of 3.4% in Q1 2026.
How has Northrop Grumman's free cash flow yield changed year-over-year?
Northrop Grumman's free cash flow yield increased by 42.5% year-over-year, from 2.4% to 3.4%.
What is the long-term trend for Northrop Grumman's free cash flow yield?
Over 4 years (2021 to 2025), Northrop Grumman's free cash flow yield has grown at a -15.0% compound annual growth rate (CAGR), from 20% to 10.4%.
What does free cash flow yield mean?
The spendable cash the business throws off each year as a percentage of its market price.
How do you interpret free cash flow yield?
Higher yield can mean better value — you pay less for each dollar of cash generated. A useful sanity check against earnings-based multiples, which non-cash items can distort.
How does free cash flow yield compare across companies?
Comparable across cash-generative companies; less meaningful for firms in heavy-investment phases with temporarily negative FCF.