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Northrop Grumman NOC Operating margin

Operating margin at other companies

Boeing logo
BoeingBA
4.6%+2.6pp
General Dynamics logo
General DynamicsGD
10.2%0.0pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
10.9%+2.7pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
10.2%+1.0pp
Lockheed Martin logo
Lockheed MartinLMT
9.9%-0.4pp
Leidos Holdings logo
Leidos HoldingsLDOS
12%+0.6pp

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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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 operating margin?
Northrop Grumman (NOC) reported operating margin of 11.6% in Q1 2026.
How has Northrop Grumman's operating margin changed year-over-year?
Northrop Grumman's operating margin increased by 21.2% year-over-year, from 9.6% to 11.6%.
What is the long-term trend for Northrop Grumman's operating margin?
Over 2 years (2021 to 2025), Northrop Grumman's operating margin has grown at a -19.7% compound annual growth rate (CAGR), from 64% to 41.3%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.