Northrop Grumman Corporation (NOC) Stock

Northrop Grumman Corporation (NOC) is a Technology stock trading at $563.79 (as of 2026-08-20), with a market capitalization of $80.09B and a trailing P/E of 17.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Northrop Grumman is an aerospace and defense company with segments including Aeronautics Systems and Defense Systems. Aeronautics Systems develops and sustains aircraft and unmanned autonomous aircraft systems and related mission and command-and-control capabilities, while Defense Systems designs and produces weapons and mission systems, including munitions, missiles, precision strike and propulsion systems, and related support.

Understand Northrop Grumman Corporation: how it makes money

Northrop Grumman builds aerospace and defense systems, designing, developing, manufacturing, integrating, and sustaining aircraft systems and weapon systems, which it delivers through its business segments.

The company earns operating profit by executing end-to-end work on complex programs, spanning design and development through manufacturing, integration, and sustainment of aircraft and weapon systems.

Business quality (Mixed): Clear segment-level business descriptions are provided, but segment revenue totals are not provided for all official reportable segments, so a complete revenue-summing segment table cannot be built from the supplied facts.

Valuation: At 16× earnings, NOC trades 69% below the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

Program coverage beyond one-time manufacturing: The business includes sustaining work in addition to designing, developing, manufacturing, and integrating aircraft and related defense systems.
Broad product and capability set within aerospace and defense: Aeronautics includes manned aircraft systems, unmanned autonomous aircraft systems, ISR variants, and airborne command and control systems, supporting diversification of what is built and integrated.

Bear case

Execution and timing sensitivity: Because results depend on delivering complex systems across design, development, manufacturing, integration, and sustainment, delays or disruptions in program execution can impact reported revenue and operating performance.
Segment profitability disclosure is incomplete here: The provided facts include segment operating income candidates but do not provide segment revenue for all official segments, limiting visibility into what portion of revenue drives changes in overall performance.

Valuation — source: SEC EDGAR (first-party)
Price	$563.79
Market Cap	$80.09B
P/E Ratio	17.8
EV / EBITDA	15.2
Price / Book	4.48
Price / Sales	1.87
FCF Yield	4.6%
DCF Value (model)	$230.18
DCF Upside vs Price	-59.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$41.95B
Net Margin	10.0%
Revenue Growth (YoY)	5.1%
EPS Growth (YoY)	-5.8%
FCF Growth (YoY)	53.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.98 (grey)

Valuation vs Sector & Industry
Stock P/E	17.8
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4
vs Sector	-47.5%
vs Industry	-54.8%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	STATE STREET CORP ($8.87B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Kathy J. Warden
Employees	97,000
Country	US
IPO Date	1981-12-31

Related Companies (Business model: Defense & Aerospace Prime (Defense Primes + Commercial Aerospace OEMs); 8 closest by market cap)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.