Northrop Grumman
ConvictionStrong
Long-cycle government cost-plus and fixed-price prime contracting: multi-year DoD/NASA programs (development + production + sustainment), backlog-driven revenue recognized over time on percentage-of-completion; ~85%+ of sales to the US government.
Revenuefact
$42.0B FY2025fact, 10-K); $9.88B Q1 FY26Rev growthfact
+2% FY25 YoY$41.0B→$42.0B); +4% Q1 FY26 YoYGross marginfact
n/a as reportedsegment operating margin 10.4% FY25, 10.8% Q1 FY26Op margin
11.2% FY25 total operating margin10.0% Q1 FY26 (fact, incl. pensionCapex intensity
~3-4% of revenuecapex $167M / $9.88B = 1.7% in seasonally-light Q1 FY26; ~$1.4-1.5B/yr run-rate, est.Market cap
~$95.7Bfact, Jun 9 2026, Macrotrends); stock ~$542 (Jun 10 2026Price · 1-year trend
real · weekly$540+7% 1yUSD
52-week range
$496 – $765
52w lowas of 2026-07-10 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityStrong
Space / launch economics
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-01-27. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$35.7B
FY’22
$36.6B+3%
FY’23
$39.3B+7%
FY’24
$41.0B+4%
FY’25
$42.0B+2%
Margins & balance sheet — FY’25
Operating margin10.8%
Net margin10.0%
Net debt$13.1B
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Northrop Grumman
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence