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Northrop Grumman NOC Space Systems — Operating Income

Other segment segments

Mission Systems
$501M+13.6%
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$362M+12.8%
Defense Systems
$156M-38.3%

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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$75.98B-8.0%
Enterprise value$90.73B-7.6%
P/E16.9×-4.0×
P/S1.8×-0.3×

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:OperatingIncomeLoss.

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

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Questions, answered.

What is Northrop Grumman's space systems — operating income?
Northrop Grumman (NOC) reported space systems — operating income of $236M in Q2 2026.
How has Northrop Grumman's space systems — operating income changed year-over-year?
Northrop Grumman's space systems — operating income decreased by 15.7% year-over-year, from $280M to $236M.
What is the long-term trend for Northrop Grumman's space systems — operating income?
Over 4 years (2021 to 2025), Northrop Grumman's space systems — operating income has grown at a 1.4% compound annual growth rate (CAGR), from $1.12B to $1.18B.
What does space systems — operating income mean?
This metric measures the profitability of the space systems segment after deducting operating expenses from its total revenues. It excludes interest and tax expenses, providing a clear view of the segment's operational efficiency and cost management. It is a key indicator of the segment's ability to convert space contracts into bottom-line earnings.