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Northrop Grumman NOC Product — Cost of Sales

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Other financials

Income statement

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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

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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

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Operating cash flow-$1.7B-5.8%
CapEx$302.0M+30.7%
Free cash flow-$1.8B-0.1%

Valuation

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Market cap$79.2B-6.1%
Enterprise value$93.94B-6.1%
P/E17.6×-3.8×
P/S1.9×-0.2×

Profitability

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Operating margin10.7%+0.3pp
Net margin10.5%+0.7pp
FCF margin7.8%+3.4pp

Returns & leverage

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Return on equity27%+0.5pp
Debt / equity-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:CostOfGoodsAndServicesSold.

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 amountsThree Months Ended June 30 / 2026Three Months Ended June 30 / 2025Six Months Ended June 30 / 2026Six Months Ended June 30 / 2025
Service2,0682,0933,9914,040
Total sales10,87610,35120,75719,819
Operating costs and expenses
Product7,1556,52613,58812,892
Service1,6001,6153,0883,137
General and administrative expenses1,0251,0161,9962,023
Total operating costs and expenses9,7809,15718,67218,052
Gain on sale of business231231

Item 1. Financial Statements (Unaudited)

FAQ

What is Northrop Grumman's product — cost of sales?
Northrop Grumman (NOC) reported product — cost of sales of $7.16B in Q2 2026.
How has Northrop Grumman's product — cost of sales changed year-over-year?
Northrop Grumman's product — cost of sales increased by 9.6% year-over-year, from $6.53B to $7.16B.
What is the long-term trend for Northrop Grumman's product — cost of sales?
Over 4 years (2021 to 2025), Northrop Grumman's product — cost of sales has grown at a 5.2% compound annual growth rate (CAGR), from $22.31B to $27.28B.
What does product — cost of sales mean?
This metric captures the direct costs associated with manufacturing and delivering defense products, including raw materials, direct labor, and manufacturing overhead. It serves as a measure of production efficiency and the direct cost burden of the company's hardware manufacturing activities. Monitoring this helps assess the impact of supply chain costs and labor productivity on the company's bottom line.

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