What is Northrop Grumman's GEM 63XL program — operating income?

Northrop Grumman (NOC) reported GEM 63XL program — operating income of -$91M in Q2 2026.

What does GEM 63XL program — operating income mean?

This metric represents the operating profit generated specifically by the GEM 63XL rocket motor program within the aerospace and defense portfolio. It measures the profitability of this specific product line by subtracting direct costs and allocated overhead from the revenue generated by program-related contracts. This figure provides insight into the program's financial health, operational efficiency, and its contribution to the company's overall segment margins.

Northrop Grumman (NOC) GEM 63XL Program — Operating Income

Screener

Other product segments

B-21 Program LRIP Options 1-4

-$157M—

Stand-in Attack Weapon Program

-$68M—

Similar metrics at other companies

APYXOem — Operating Income

$443K+382%

ITWAutomotive OEM — Operating Income

$185M+2.8%

GRMNAuto Oem — Operating Income

$2.87M+130%

NATHBranded Product Program — Operating Income

$1.33M-41.6%

COGTEarly Stage Preclinical And Discovery Programs — Operating Income

$13.98M+42.9%

LINCCampus Operations — Operating Income

$27.73M+28.0%

Other financials

Income statement

See full

Revenue$10.9B+5.1%

Operating income$1.1B-23.1%

Net income$1.1B-6.8%

EPS (diluted)$7.68-5.8%

Balance sheet

See full

Cash & equivalents$2.3B+21.5%

Total debt$17.1B-2.6%

Total equity$17.9B+15.6%

Total assets$50.8B+2.7%

Cash flow

See full

Operating cash flow-$1.7B-5.8%

CapEx$302.0M+30.7%

Free cash flow-$1.8B-0.1%

Valuation

See full

Market cap$79.2B-6.1%

Enterprise value$93.94B-6.1%

P/E17.6×-3.8×

P/S1.9×-0.2×

Profitability

See full

Operating margin10.7%+0.3pp

Net margin10.5%+0.7pp

FCF margin7.8%+3.4pp

Returns & leverage

See full

Return on equity27%+0.5pp

Debt / equity1×-0.2×

Current ratio1.2×+0.1×

Where this comes from

Reported directly by Northrop Grumman in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Northrop Grumman’s 10-Q, filed July 21, 2026.

Filed: Jul 21, 2026, 4:02 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001133421-26-000034

$ in millions, except per share amounts	Three Months Ended June 30 / 2026	Three Months Ended June 30 / 2025	Six Months Ended June 30 / 2026	Six Months Ended June 30 / 2025
General and administrative expenses	1,025	1,016	1,996	2,023
Total operating costs and expenses	9,780	9,157	18,672	18,052
Gain on sale of business	—	231	—	231
Operating income	1,096	1,425	2,085	1,998
Other (expense) income
Interest expense	(161)	(173)	(323)	(329)
Non-operating FAS pension benefit	166	137	332	267
Other, net	67	38	104	69

Item 1. Financial Statements (Unaudited)

FAQ

What is Northrop Grumman's GEM 63XL program — operating income?: Northrop Grumman (NOC) reported GEM 63XL program — operating income of -$91M in Q2 2026.
What does GEM 63XL program — operating income mean?: This metric represents the operating profit generated specifically by the GEM 63XL rocket motor program within the aerospace and defense portfolio. It measures the profitability of this specific product line by subtracting direct costs and allocated overhead from the revenue generated by program-related contracts. This figure provides insight into the program's financial health, operational efficiency, and its contribution to the company's overall segment margins.