Northrop Grumman Corp (NOC) financial statements: income statement, balance sheet and cash flow

Northrop Grumman Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Northrop Grumman Corp reported revenue of $42.0B (+2.2% year on year) and net income of $4.2B (+0.2% year on year).

Income statement

Northrop Grumman Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cost of Product and Service Sold	$33.6B	$32.7B	$32.7B	$29.1B
Revenues	$42.0B	$41.0B	$39.3B	$36.6B
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$9.0M	($2.0M)	$23.0M	—
Other Comprehensive Income (Loss), Other Components, Net of Tax	$17.0M	($22.0M)	$2.0M	—
Gain on sale of business	$231.0M	—	$0	$0
General and administrative expenses	$4.0B	$4.0B	$4.0B	$3.9B
Total operating costs and expenses	$37.7B	$36.7B	$36.8B	$33.0B
Operating income	$4.5B	$4.4B	$2.5B	$3.6B
Interest expense	($665.0M)	($621.0M)	($545.0M)	($506.0M)
Non-operating FAS pension benefit	$541.0M	$656.0M	$530.0M	$1.5B
Mark-to-market pension and OPB benefit (expense)	$527.0M	$443.0M	($422.0M)	$1.2B
Other, net	$154.0M	$168.0M	$246.0M	$4.0M
Earnings before income taxes	$5.1B	$5.0B	$2.3B	$5.8B
Federal and foreign income tax expense	$886.0M	$842.0M	$290.0M	$940.0M
Net earnings	$4.2B	$4.2B	$2.1B	$4.9B
Basic earnings per share	$29.14	$28.39	$13.57	$31.61
Weighted-average common shares outstanding, in millions	143.5M	147.0M	151.5M	154.9M
Diluted earnings per share	$29.08	$28.34	$13.53	$31.47
Weighted-average diluted shares outstanding, in millions	143.8M	147.3M	152.0M	155.6M
Other comprehensive income (loss), net of tax	$26.0M	($24.0M)	$25.0M	($10.0M)
Comprehensive income	$4.2B	$4.2B	$2.1B	$4.9B

Northrop Grumman Corp income statement, quarters

Line item	Sep 30, 2026 · Q3	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3
Revenues	$11.1B	$10.9B	$9.9B	$10.4B
Cost of Sales	$8.8B	$8.8B	$7.9B	$8.2B
General and administrative expenses	$1.1B	$1.0B	$971.0M	$985.0M
Total operating costs and expenses	$9.9B	$9.8B	$8.9B	$9.2B
Gain on sale of business	$0	$0	—	$0
Operating income	$1.3B	$1.1B	$989.0M	$1.2B
Interest expense	($158.0M)	($161.0M)	($162.0M)	($161.0M)
Non-operating FAS pension benefit	$167.0M	$166.0M	$166.0M	$136.0M
Other, net	$20.0M	$67.0M	$37.0M	$106.0M
Earnings before income taxes	$1.3B	$1.2B	$1.0B	$1.3B
Federal and foreign income tax expense	$174.0M	$74.0M	$155.0M	$223.0M
Net earnings	$1.1B	$1.1B	$875.0M	$1.1B
Basic earnings per share	$7.91	$7.70	$6.16	$7.69
Weighted-average common shares outstanding, in millions	142.1M	142.1M	142.1M	143.1M
Diluted earnings per share	$7.89	$7.68	$6.14	$7.67
Weighted-average diluted shares outstanding, in millions	142.4M	142.4M	142.5M	143.5M
Change in cumulative translation adjustment	($2.0M)	$0	$2.0M	($2.0M)
Change in other, net	$0	($3.0M)	($3.0M)	($1.0M)
Other comprehensive income (loss), net of tax	$2.0M	($3.0M)	($5.0M)	$1.0M
Comprehensive income	$1.1B	$1.1B	$870.0M	$1.1B

Balance sheet

Northrop Grumman Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$4.4B	$4.4B	$3.1B	$2.6B
Accounts receivable, net	$1.4B	$1.3B	$1.5B	$1.5B
Unbilled receivables, net	$6.5B	$5.9B	$5.7B	$6.0B
Inventoried costs, net	$1.3B	$1.5B	$1.1B	$978.0M
Prepaid expenses and other current assets	$1.7B	$1.3B	$2.3B	$1.4B
Total current assets	$15.3B	$14.3B	$13.7B	$12.5B
Property, plant and equipment, net of accumulated depreciation of $9,648 for 2025 and $8,733 for 2024	$11.0B	$10.5B	$9.7B	$8.8B
Operating lease right-of-use assets	$1.9B	$1.8B	$1.8B	$1.8B
Goodwill	$17.4B	$17.5B	$17.5B	$17.5B
Deferred tax assets	$1.1B	$1.6B	$1.0B	$162.0M
Non-current assets	$3.2B	$2.2B	—	—
Other non-current assets	$1.6B	$1.2B	$2.5B	$2.6B
Total assets	$51.4B	$49.4B	$46.5B	$43.8B
Trade accounts payable	$3.2B	$2.6B	$2.1B	$2.6B
Accrued employee compensation	$2.3B	$2.3B	$2.3B	$2.1B
Advance payments and billings in excess of costs incurred	$4.1B	$4.1B	$4.2B	$3.6B
Other current liabilities	$4.2B	$5.2B	$3.4B	$3.3B
Total current liabilities	$13.9B	$14.1B	$11.9B	$11.6B
Long-term debt, net of current portion of $534 for 2025 and $1,582 for 2024	$15.2B	$14.7B	$13.8B	$11.8B
Pension and other postretirement benefit plan liabilities	$1.1B	$1.1B	$1.3B	$1.2B
Operating lease liabilities	$1.9B	$1.8B	$1.9B	$1.8B
Other non-current liabilities	$2.7B	$2.3B	$2.8B	$1.9B
Total liabilities	$34.7B	$34.1B	$31.7B	$28.4B
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2025—141,997,194 and 2024—144,952,026	142.0M	145.0M	150.0M	153.0M
Paid-in capital	$0	$0	$0	$0
Retained earnings	$16.7B	$15.3B	$14.8B	$15.3B
Accumulated other comprehensive loss	($126.0M)	($152.0M)	($128.0M)	($153.0M)
Total shareholders’ equity	$16.7B	$15.3B	$14.8B	$15.3B
Total liabilities and shareholders’ equity	$51.4B	$49.4B	$46.5B	$43.8B

Northrop Grumman Corp balance sheet, quarters

Line item	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025
Cash and cash equivalents	$3.7B	$2.3B	$2.1B	$2.0B
Accounts receivable, net	$2.1B	$2.3B	$1.8B	$2.0B
Unbilled receivables, net	$7.9B	$8.0B	$7.6B	$7.0B
Inventoried costs, net	$1.4B	$1.4B	$1.4B	$1.6B
Prepaid expenses and other current assets	$1.9B	$1.6B	$1.9B	$1.5B
Total current assets	$17.0B	$15.6B	$14.8B	$14.1B
Property, plant and equipment, net of accumulated depreciation of $10,306 for 2026 and $9,648 for 2025	$10.5B	$10.3B	$10.2B	$10.5B
Operating lease right-of-use assets	$2.2B	$1.9B	$1.9B	$1.8B
Goodwill	$17.4B	$17.4B	$17.4B	$17.4B
Deferred tax assets	$488.0M	$598.0M	$743.0M	$1.3B
Pension and other postretirement benefit plan assets	$3.4B	$3.4B	$3.3B	$2.5B
Other non-current assets	$1.5B	$1.5B	$1.6B	$1.5B
Total assets	$52.5B	$50.8B	$50.0B	$49.3B
Trade accounts payable	$3.3B	$2.9B	$2.7B	$2.8B
Accrued employee compensation	$2.0B	$2.0B	$1.7B	$1.9B
Advance payments and billings in excess of costs incurred	$3.8B	$3.8B	$3.7B	$3.6B
Other current liabilities	$4.6B	$4.6B	$4.7B	$4.4B
Total current liabilities	$13.8B	$13.3B	$12.8B	$12.7B
Long-term debt, net of current portion of $764 for 2026 and $534 for 2025	$14.4B	$14.4B	$14.4B	$15.2B
Pension and other postretirement benefit plan liabilities	$1.1B	$1.1B	$1.1B	$1.1B
Operating lease liabilities	$2.2B	$1.9B	$1.9B	$1.8B
Other non-current liabilities	$2.4B	$2.2B	$2.7B	$2.5B
Total liabilities	$33.8B	$32.9B	$32.9B	$33.3B
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2026—142,064,132 and 2025—141,997,194	142.0M	142.0M	142.0M	143.0M
Paid-in capital	$63.0M	$37.0M	$8.0M	$0
Retained earnings	$18.6B	$17.8B	$17.1B	$16.0B
Accumulated other comprehensive loss	($132.0M)	($134.0M)	($131.0M)	($123.0M)
Total shareholders’ equity	$18.7B	$17.9B	$17.1B	$16.0B
Total liabilities and shareholders’ equity	$52.5B	$50.8B	$50.0B	$49.3B

Cash flow statement

Northrop Grumman Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net earnings	$4.2B	$4.2B	$2.1B	$4.9B
Depreciation and amortization	$1.5B	$1.4B	$1.3B	$1.3B
Mark-to-market pension and OPB (benefit) expense	($527.0M)	($443.0M)	$422.0M	($1.2B)
Stock-based compensation	$119.0M	$101.0M	$87.0M	$99.0M
Deferred income taxes	$548.0M	($582.0M)	($988.0M)	($321.0M)
B-21 loss provisions	$477.0M	$0	$1.6B	—
Gain on sale of business	($231.0M)	—	$0	$0
Net periodic pension and OPB income	($346.0M)	($438.0M)	($308.0M)	($1.2B)
Pension and OPB contributions	($130.0M)	($129.0M)	($139.0M)	($136.0M)
Accounts receivable, net	($108.0M)	$182.0M	$54.0M	($44.0M)
Unbilled receivables, net	($754.0M)	($215.0M)	$247.0M	($646.0M)
Inventoried costs, net	$97.0M	($358.0M)	($220.0M)	($205.0M)
Prepaid expenses and other assets	$8.0M	$35.0M	($86.0M)	$2.0M
Trade accounts payable	($646.0M)	—	—	—
Advance payments and billings in excess of costs incurred	($19.0M)	—	—	—
Other liabilities	$212.0M	—	—	—
Income taxes payable, net	($559.0M)	$1.1B	($658.0M)	($279.0M)
Other operating activities	$56.0M	$61.0M	($8.0M)	$46.0M
Net cash provided by operating activities	$4.8B	$4.4B	$3.9B	$2.9B
Capital expenditures	($1.4B)	($1.8B)	($1.8B)	($1.4B)
Proceeds from Sale, Maturity and Collection of Investments	$0	$0	$197.0M	—
Proceeds from Divestiture of Businesses	$333.0M	—	$0	$0
Other investing activities	($38.0M)	$18.0M	($4.0M)	$39.0M
Net cash used in investing activities	($1.2B)	($1.7B)	($1.6B)	($1.2B)
Net proceeds from issuance of long-term debt	$998.0M	$2.5B	$2.0B	$0
Payments of long-term debt	($1.5B)	$0	($1.1B)	$0
Common stock repurchases	($1.6B)	($2.5B)	($1.5B)	($1.5B)
Cash dividends paid	($1.3B)	($1.2B)	($1.1B)	($1.1B)
Payments of employee taxes withheld from share-based awards	($39.0M)	($58.0M)	($52.0M)	($50.0M)
Other financing activities	($94.0M)	($132.0M)	($38.0M)	($7.0M)
Net cash used in financing activities	($3.6B)	($1.4B)	($1.8B)	($2.6B)
Increase in cash and cash equivalents	$50.0M	$1.2B	$532.0M	($953.0M)
Cash and cash equivalents, beginning of year	$4.4B	$3.1B	$2.6B	$3.5B
Cash and cash equivalents, end of period	$4.4B	$4.4B	—	—

Northrop Grumman Corp cash flow statement, quarters

Line item	Sep 30, 2026 · YTD	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD
Net earnings	$3.1B	$2.0B	$875.0M	$2.8B
Depreciation and amortization	$1.1B	$739.0M	$372.0M	$1.1B
Stock-based compensation	$75.0M	$49.0M	$20.0M	$65.0M
Deferred income taxes	$651.0M	$453.0M	$308.0M	$344.0M
B-21 loss provision	$0	$0	$0	$477.0M
Gain on sale of business	$0	$0	—	($231.0M)
Net periodic pension and OPB income	($361.0M)	($240.0M)	($120.0M)	($256.0M)
Pension and OPB contributions	($92.0M)	($63.0M)	($33.0M)	($94.0M)
Accounts receivable, net	($705.0M)	($936.0M)	($431.0M)	($716.0M)
Unbilled receivables, net	($1.2B)	($860.0M)	($551.0M)	($1.2B)
Inventoried costs, net	($65.0M)	($118.0M)	($144.0M)	($179.0M)
Prepaid expenses and other assets	$55.0M	$141.0M	($37.0M)	($29.0M)
Increase (Decrease) in Accounts Payable	$41.0M	($345.0M)	($559.0M)	—
Increase (Decrease) in Contract with Customer, Liability	($248.0M)	($263.0M)	($389.0M)	—
Increase (Decrease) in Other Accrued Liabilities	($868.0M)	($836.0M)	($802.0M)	—
Income taxes payable, net	($125.0M)	($38.0M)	($164.0M)	($421.0M)
Other operating activities, net	($23.0M)	($28.0M)	($1.0M)	($39.0M)
Net cash provided by operating activities	$1.4B	($376.0M)	($1.7B)	$860.0M
Capital expenditures	($775.0M)	($469.0M)	($167.0M)	($788.0M)
Cash flow from Sale of Equipment to a Customer	$371.0M	—	—	—
Proceeds from Sale, Maturity and Collection of Investments	$107.0M	$107.0M	—	—
Proceeds from Divestiture of Businesses	$0	$0	—	$333.0M
Other investing activities, net	($17.0M)	($2.0M)	($1.0M)	($36.0M)
Net cash used in investing activities	($314.0M)	($364.0M)	($168.0M)	($491.0M)
Proceeds from Issuance of Long-Term Debt	$0	$0	—	$998.0M
Payments of long-term debt	($527.0M)	($527.0M)	($527.0M)	($1.5B)
Common stock repurchases	($68.0M)	($68.0M)	($68.0M)	($1.2B)
Cash dividends paid	($1.0B)	($684.0M)	($333.0M)	($964.0M)
Payments of employee taxes withheld from share-based awards	($58.0M)	($58.0M)	($57.0M)	($38.0M)
Other financing activities, net	($26.0M)	($19.0M)	($2.0M)	($93.0M)
Net cash used in financing activities	($1.7B)	($1.4B)	($489.0M)	($2.8B)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect, Continuing Operation	($659.0M)	($2.1B)	($2.3B)	—
Cash and cash equivalents, beginning of year	$4.4B	$4.4B	$4.4B	$4.4B
Cash and cash equivalents, end of period	$3.7B	$2.3B	$2.1B	—

Northrop Grumman Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.