Northrop Grumman Corporation
Financial Performance
Northrop Grumman Revenue & Financials
Revenue
$42B (FY2025)
Market Cap
$68.7B
Net Income
$4.2B
Employees
95,000
What is Northrop Grumman's revenue?
Northrop Grumman had $42B in revenue for fiscal year 2025, up 2.2% from 2024. Net income was $4.2B.
- Latest revenue
- $42B (FY2025)
- Year-over-year
- +2.2%
- Growth rate (CAGR)
- 6.1% over 9 years
- Peak revenue
- $42B (FY2025)
- Years of data
- 10
- Employees
- 95,000
- What is Northrop Grumman's operating income?
- Northrop Grumman reported operating income of $4.5B for fiscal year 2025. sec.gov
- How much profit does Northrop Grumman make?
- Northrop Grumman reported net income of $4.2B for fiscal year 2025. sec.gov
- How many employees does Northrop Grumman have?
- Northrop Grumman has about 95,000 employees.
Financial Analysis
Sales grew from $36.6 billion in 2022 to $41.95 billion in 2025, with 2025 net earnings of $4.18 billion and free cash flow of $3.3 billion, up 26% year over year. Earnings have been uneven because of program charges: net earnings fell to $2.06 billion in 2023 after a $1.56 billion pre-tax loss provision on B-21 low-rate production, and the company booked another B-21 charge of about $477 million in early 2025. Backlog reached a record $95.7 billion at the end of 2025 on more than $46 billion of net awards. In Q2 2026 sales rose 5% to $10.9 billion, backlog hit about $105 billion, and full-year 2026 guidance was raised to $43.75-$44.25 billion in sales and $3.1-$3.5 billion of free cash flow. Northrop Grumman Corporation is a colossal American multinational aerospace and defense technology company, sustaining a massive market valuation typically exceeding $65 billion.
Revenue Trend Analysis
YoY Change
+2.2%
9-Year CAGR
+6.1%
Peak Year
2025
Trend
Consistent Growth
Northrop Grumman Corporation has 10 full fiscal year figures on this page, compounding at +6.1% annually over 9 years. The most recent year saw a 2.2% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $42B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
Northrop Grumman Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $4.8B | $1.4B | $51.4B | $34.7B | $16.7B | $3.3B | Form 10-K |
| FY2024ended Dec 31, 2024 | $4.4B | $1.8B | $49.4B | $34.1B | $15.3B | $2.6B | Form 10-K |
| FY2023ended Dec 31, 2023 | $3.9B | $1.8B | $46.5B | $31.7B | $14.8B | $2.1B | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.9B | $1.4B | $43.8B | $28.4B | $15.3B | $1.5B | Form 10-K |
| FY2021ended Dec 31, 2021 | $3.6B | $1.4B | $42.6B | $29.7B | $12.9B | $2.2B | Form 10-K |
| FY2020ended Dec 31, 2020 | $4.3B | $1.4B | $44.5B | $33.9B | $10.6B | $2.9B | Form 10-K |
| FY2019ended Dec 31, 2019 | $4.3B | $1.3B | $41.1B | $32.3B | $8.8B | $3B | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.8B | $1.2B | $37.7B | $29.5B | $8.2B | $2.6B | Form 10-K |
| FY2017ended Dec 31, 2017 | $2.6B | $928M | $35.1B | $28B | $7.1B | $1.7B | Form 10-K |
| FY2016ended Dec 31, 2016 | $2.8B | $920M | $25.6B | $20.4B | $5.4B | $1.9B | Form 10-K |
Keep researching Northrop Grumman
Northrop Grumman Revenue and Financial FAQ
What was Northrop Grumman's revenue and net income in 2025?
Northrop Grumman reported 2025 sales of $41.95 billion, up from $41.03 billion in 2024, and net earnings of $4.18 billion, or $29.08 per diluted share.
How large is Northrop Grumman's backlog?
Backlog was a record $95.7 billion at the end of 2025, after more than $46 billion of net awards, and rose to about $105 billion by the end of Q2 2026, up 17% year over year.
How much free cash flow does Northrop Grumman generate?
Free cash flow was $3.3 billion in 2025, up 26% and the third straight year of at least 25% growth. The company guided to $3.1-$3.5 billion for 2026.
What is Northrop Grumman's 2026 guidance?
In July 2026 Northrop raised its 2026 outlook to sales of $43.75-$44.25 billion and mark-to-market adjusted EPS of $28.60-$29.10.
Why did Northrop Grumman's earnings drop in 2023?
Net earnings fell to $2.06 billion in 2023, largely because of a $1.56 billion pre-tax loss provision on low-rate initial production of the B-21 Raider, which is priced under fixed-price contract options.
What were Northrop Grumman's Q2 2026 results?
Second-quarter 2026 sales rose 5% to $10.9 billion, adjusted EPS was $7.68, and adjusted free cash flow was nearly $1 billion. Net awards were about $20 billion.
Does Northrop Grumman pay a dividend?
Yes. Northrop Grumman pays a quarterly dividend and also buys back shares; it has raised its dividend annually for more than two decades.
What is Northrop Grumman's market cap?
Northrop Grumman's market capitalization was about $68.7 billion on September 30, 2026, after the shares fell toward a 52-week low following the F/A-XX award to Boeing.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Northrop Grumman Revenue & Financials." CorpDigest, https://corpdigest.com/company/northrop-grumman/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Northrop Grumman reported $42B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/northrop-grumman/financials" target="_blank" rel="noopener">CorpDigest — Northrop Grumman financials</a></div>Related Financial Audits
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