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NOC

Northrop Grumman Corporation

US$478.00-0.83% (-US$4.00)
Day's range
US$470.06 – US$481.86
Day's volume
US$1.3bn
52-week range
US$478.00 – US$761.19

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NOC in numbers

Market cap
US$67.9bn
P/E
15.10
P/B
3.80
Dividend yield (12m)
2.00%
Net debt/EBITDA
2.10

The 12-month dividend yield of NOC is 2.00%, above its 5-year average of 1.54%.

NOC price history

03/10/202502/10/2026
Compare with

NOC risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-15.11%+5.34%+47.98%
Volatility (annualised)32.66%24.89%25.13%
Largest drawdown-33.42%-33.42%-33.42%
Positive months4/1216/3630/60

How much did investing in NOC return?

US$1,000.00 invested on 01/11/2021 would be worth US$1,479.81 today.

Value today in NOC
US$1,479.81
Return over the period
+47.98%
Return per year
+8.30%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

NOC fundamentals

Valuation

  • P/E
    15.10
  • P/B
    3.80
  • EV/EBITDA
    13.20
  • EV/EBIT
    17.57
  • EV/Revenue
    1.88
  • P/EBIT
    14.77
  • P/S
    1.58
  • P/OCF
    13.37
  • P/FCF
    18.62
  • Earnings yield
    5.69%
  • PEG ratio
    —
  • Earnings per share
    US$31.65
  • Book value per share
    US$125.89

Debt

  • Net debt
    US$12.9bn
  • Net debt/EBITDA
    2.10
  • Net debt/Equity
    0.72
  • Debt/Equity
    0.85
  • Current ratio
    1.17
  • Quick ratio
    1.06
  • Cash ratio
    0.17

Efficiency

  • Gross margin
    —
  • EBITDA margin
    14.27%
  • Operating margin
    10.72%
  • Net margin
    10.48%
  • Asset turnover
    0.84

Profitability

  • ROE
    25.14%
  • ROA
    8.86%
  • ROIC
    12.77%
  • Payout
    30.21%

Growth

  • Revenue CAGR (5 years)
    2.67%
  • Earnings CAGR (5 years)
    -0.23%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is NOC's fair price?

Two classic value formulas, with today's numbers. The current price is US$478.00.

Graham's fair price
US$299.40
37.36% below the price

√(22.50 × US$31.65 × US$125.89)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$124.33
73.99% below the price

US$7.46 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

NOC indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E19.3516.2834.1617.068.6315.9325.6512.87
P/B4.854.444.755.454.674.806.545.08
EV/EBITDA15.4113.9120.9018.9810.1111.4213.248.84
Dividend yield1.58%1.72%1.57%1.24%1.59%1.86%1.50%1.92%
Earnings per shareUS$29.47US$28.83US$13.70US$31.99US$44.87US$19.13US$13.41US$19.02
Book value per shareUS$117.49US$105.63US$98.61US$100.04US$82.80US$63.45US$52.61US$48.23
ROE25.08%27.30%13.90%31.97%54.19%30.14%25.49%39.44%
ROIC13.31%13.36%8.70%11.80%19.97%16.82%17.12%45.78%
EBITDA margin14.26%13.99%9.86%13.50%19.32%14.49%15.47%15.22%
Net margin9.97%10.17%5.23%13.38%19.64%8.67%6.64%10.73%
Net debt/EBITDA1.892.082.772.081.341.892.22-0.23

NOC financial statements

Line202520242023202220212020
Net revenueUS$42bnUS$41bnUS$39.3bnUS$36.6bnUS$35.7bnUS$36.8bn
Cost of sales——————
Gross profit——————
EBITDAUS$6bnUS$5.7bnUS$3.9bnUS$4.9bnUS$6.9bnUS$5.3bn
EBITUS$4.5bnUS$4.4bnUS$2.5bnUS$3.6bnUS$5.7bnUS$4.1bn
Net finance result——————
Profit before taxUS$5.1bnUS$5bnUS$2.3bnUS$5.8bnUS$8.9bnUS$3.7bn
Income tax-US$886m-US$842m-US$290m-US$940m-US$1.9bn-US$539m
Net incomeUS$4.2bnUS$4.2bnUS$2.1bnUS$4.9bnUS$7bnUS$3.2bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does NOC pay dividends?

Dividend yield per year

  • 1.27%2017
  • 1.92%2018
  • 1.50%2019
  • 1.86%2020
  • 1.59%2021
  • 1.24%2022
  • 1.57%2023
  • 1.72%2024
  • 1.58%2025
  • 1.52%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend28/08/202616/09/2026US$2.47
Dividend29/05/202617/06/2026US$2.47
Dividend20/02/202611/03/2026US$2.31
Dividend28/11/202517/12/2025US$2.31
Dividend01/09/202517/09/2025US$2.31
Dividend30/05/202518/06/2025US$2.31
Dividend28/02/202519/03/2025US$2.06
Dividend29/11/202418/12/2024US$2.06
Dividend02/09/202418/09/2024US$2.06
Dividend23/05/202412/06/2024US$2.06
Dividend22/02/202413/03/2024US$1.87
Dividend23/11/202313/12/2023US$1.87
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend24/08/202313/09/2023US$1.87
Dividend25/05/202314/06/2023US$1.87
Dividend23/02/202315/03/2023US$1.73
Dividend24/11/202214/12/2022US$1.73
Dividend25/08/202214/09/2022US$1.73
Dividend26/05/202215/06/2022US$1.73
Dividend24/02/202216/03/2022US$1.57
Dividend25/11/202115/12/2021US$1.57
Dividend26/08/202115/09/2021US$1.57
Dividend27/05/202116/06/2021US$1.57
Dividend25/02/202117/03/2021US$1.45
Dividend26/11/202016/12/2020US$1.45
Dividend27/08/202016/09/2020US$1.45
Dividend28/05/202017/06/2020US$1.45
Dividend20/02/202011/03/2020US$1.32
Dividend28/11/201918/12/2019US$1.32
Dividend05/09/201925/09/2019US$1.32
Dividend30/05/201919/06/2019US$1.32
Dividend21/02/201913/03/2019US$1.20
Dividend29/11/201819/12/2018US$1.20
Dividend23/08/201812/09/2018US$1.20
Dividend31/05/201820/06/2018US$1.20
Dividend01/03/201821/03/2018US$1.10
Dividend30/11/201720/12/2017US$1.00
Dividend23/08/201713/09/2017US$1.00
Dividend31/05/201721/06/2017US$1.00
Dividend01/03/201722/03/2017US$0.90
Dividend30/11/201621/12/2016US$0.90

About Northrop Grumman

Sector
Manufacturing

Questions about NOC

How much is NOC today?

NOC is at US$478.00 (-0.83% on the day), last traded on 02/10/2026.

How much did NOC pay in dividends in 2025?

NOC paid US$8.99 per share in 2025, a dividend yield of 1.58%.

What are the P/E and P/B of NOC?

NOC trades at a P/E of 15.10 and a P/B of 3.80.

How much did NOC return in 12 months?

NOC returned -15.11% in 12 months, with annualised volatility of 32.66% and a largest drawdown of -33.42%.