Northrop Grumman
Defense prime for stealth aircraft, strategic missiles, mission electronics, and space systems.
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Profile
Builds military aircraft, strategic missiles, sensors, battle-management systems, and space hardware across four operating segments, earning revenue from long-term development, production, and sustainment contracts. Most sales ultimately depend on the U.S. government, while international business is largely defense-focused.
Designs, produces, and sustains military aircraft, missiles, sensors, command systems, and space hardware through Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. Aeronautics includes the B-21 Raider, B-2 sustainment, E-2D Advanced Hawkeye, F-35 fuselages, and uncrewed surveillance aircraft. Defense Systems covers Sentinel strategic deterrence, IBCS battle management, tactical weapons, and solid-rocket propulsion.
Pairs those platforms with Mission Systems radar, electronic warfare, communications, microelectronics, cyber, and maritime systems, while Space Systems supplies satellites, spacecraft, launch propulsion, missile defense, Cygnus cargo vehicles, and civil-space hardware. The portfolio serves U.S. national-security and civil agencies plus international defense customers, with classified work embedded across several segments.
Combines prime-contract integration with component supply and sustainment. Most sales come from the U.S. government, tying demand to federal budgets, program decisions, security and export rules, and appropriations; fixed-price contracts leave the contractor responsible for cost overruns.
Company facts
Categories
Key statistics
Year to date −6.8% · Average volume (30d) 756.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 5, 2026 | Bernstein | Reiterate | Market Perform | $727 | $653 |
| Jul 22, 2026 | Deutsche Bank | Target | $765 | $615 | |
| Jul 22, 2026 | Susquehanna | Reiterate | Positive | $752 | $655 |
| Jul 22, 2026 | Robert W. Baird | Target | $470.57 | $500 | |
| Jul 15, 2026 | Morgan Stanley | Target | $765 | $745 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $6.82 | $7.68 | +12.6% | $10.80B | $10.88B | +0.7% | +2.54% |
| Apr 21, 2026Q1 FY26 | $6.06 | $6.14 | +1.3% | $9.75B | $9.88B | +1.3% | −3.52% |
| Jan 27, 2026Q4 FY25 | $6.98 | $7.23 | +3.6% | $11.62B | $11.71B | +0.8% | +1.53% |
| Oct 21, 2025Q3 FY25 | $6.44 | $7.67 | +19.1% | $10.72B | $10.42B | −2.7% | −0.48% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $9.47B | $10.35B | $10.42B | $11.71B | $9.88B | $10.88B | |
| Gross profit | $1.58B | $2.21B | $2.23B | $2.30B | $1.96B | $2.12B | |
| Operating income | $573.0M | $1.43B | $1.24B | $1.04B | $989.0M | $1.10B | |
| Net income | $481.0M | $1.17B | $1.10B | $1.43B | $875.0M | $1.09B | |
| Diluted EPS | $3.32 | $8.15 | $7.67 | $9.99 | $6.14 | $7.68 | |
| Gross margin | 16.7% | 21.4% | 21.4% | 19.6% | 19.8% | 19.5% | |
| Operating margin | 6.1% | 13.8% | 11.9% | 8.9% | 10.0% | 10.1% |
Fiscal years (4-quarter sums)FY21 $35.67B · FY22 $36.60B · FY23 $39.29B · FY24 $41.03B · FY25 $41.95B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.31B · Total debt $16.29B · Total assets $50.76B · Shareholders' equity $17.88B
Dividends
Raised for 43 straight years — most recently to $2.47 from $2.31 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 17 | $2.47 | raised from $2.31 |
| Feb 23, 2026 | Feb 23 | Mar 11 | $2.31 | |
| Dec 1, 2025 | Dec 1 | Dec 17 | $2.31 | |
| Sep 2, 2025 | Sep 2 | Sep 17 | $2.31 | |
| Jun 2, 2025 | Jun 2 | Jun 18 | $2.31 | raised from $2.06 |
| Mar 3, 2025 | Mar 3 | Mar 19 | $2.06 | |
| Dec 2, 2024 | Dec 2 | Dec 18 | $2.06 | |
| Sep 3, 2024 | Sep 3 | Sep 18 | $2.06 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 142.06M · Float 141.63M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| State Street Corp | 13.17M | 9.27% | 13F | Aug 7, 2026 |
| BlackRock, Inc. | 11.78M | 8.29% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 9.00M | 6.33% | 13F | Aug 13, 2026 |
| Capital International Investors | 5.85M | 4.12% | 13F | Aug 12, 2026 |
| Capital World Investors | 5.06M | 3.56% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | Mark A. Iii Welsh | director | −95 | $547.53 |
| May 4, 2026 | Mark A. Iii Welsh | director | −95 | $571.68 |
| Mar 2, 2026 | Kathryn G. Simpson | officer: Corp VP & General Counsel | −873 | $745.00 |
| Feb 27, 2026 | Roshan S. Roeder | officer: CVP & Pres. Mission Systems | −1,754 | $720.00 |
| Feb 19, 2026 | Michael A. Hardesty | officer: Corp VP, Controller & CAO | −147 | $732.98 |
Peers
- Lockheed Martin
Broadest head-to-head peer across strike, missiles, space, and mission systems.
- RTX
Dominant rival in missile defense, airborne radar, EW, and propulsion systems.
- General Dynamics
Primary rival in C4ISR IT, secure comms, and ground/naval combat systems.
- L3Harris Technologies
Direct rival in EW, sensors, space payloads, ISR, and tactical communications.
- Boeing
Rival in 6th-gen strike, naval fighter, and space systems.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Northrop Grumman | $546.65 | +0.20% | $77.51B | 17.3 | 18.6 | 1.8 | +5.1% |
| Lockheed Martin | $564.08 | +0.07% | $130.13B | 20.8 | 17.9 | 1.7 | +10.5% |
| RTX | $212.00 | +0.13% | $285.33B | 37.3 | 28.8 | 3.1 | +14.5% |
| General Dynamics | $376.45 | −0.75% | $102.63B | 23.1 | 21.7 | 1.9 | +8.1% |
| L3Harris Technologies | $262.82 | +0.01% | $48.94B | 26.5 | 21.3 | 2.1 | +8.4% |
| Boeing | $209.76 | −0.03% | $165.84B | 90.8 | 152.1 | 1.8 | +8.0% |
| Median | 26.5 | 21.7 | 1.9 | +8.4% |