Northrop Grumman Corporation (NOC) Income Statement
NOC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNOC revenue and net income
Where NOC's revenue goes
2025Each bar shows an amount and its share of revenue. NOC kept 10.0% of revenue as net income.
NOC profit margins
NOC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +2.2% | +4.7% | +2.7% | +6.0% |
| Gross profit | −0.6% | +3.6% | +2.1% | +4.0% |
| Operating income | −2.1% | +5.9% | +1.0% | +3.4% |
| Net income | +0.2% | −5.1% | +5.6% | +7.7% |
| EPS (diluted) | +1.2% | +1.1% | +2.2% | +9.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NOC quarterly EPS vs estimates
Northrop Grumman beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 20, 2026 (estimate $7.22).
NOC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.95B | $41.03B | $39.29B | $36.60B | $35.67B | $36.80B | $33.84B | $30.09B | $25.80B | $24.51B |
| Cost of revenue | $33.64B | $32.67B | $30.80B | $29.13B | $28.40B | $29.32B | $26.58B | $23.30B | $19.85B | $18.73B |
| Gross profit | $8.31B | $8.36B | $39.29B | $7.47B | $7.27B | $7.48B | $7.26B | $6.79B | $5.95B | $5.78B |
| Research & development | $1.10B | $1.10B | $1.20B | $1.20B | $1.10B | $1.10B | $953.0M | $764.0M | $639.0M | $705.0M |
| Sales, general & admin | $4.03B | $3.99B | $4.01B | $3.87B | $3.60B | $3.41B | $3.29B | $3.01B | $2.71B | $2.63B |
| Total operating expenses | $4.03B | $3.99B | $4.01B | $3.87B | $1.62B | $3.41B | $3.29B | $3.04B | $2.71B | $2.63B |
| Operating income | $4.28B | $4.37B | $2.54B | $3.60B | $5.65B | $4.07B | $3.97B | $3.78B | $3.30B | $3.19B |
| Interest income | $665.0M | $621.0M | $545.0M | $506.0M | $556.0M | $593.0M | $528.0M | $562.0M | $360.0M | $301.0M |
| Interest expense | $665.0M | $621.0M | $545.0M | $506.0M | $556.0M | $593.0M | $528.0M | $562.0M | $360.0M | $301.0M |
| Income before taxes | $5.07B | $5.02B | $2.35B | $5.84B | $8.94B | $3.73B | $2.55B | $3.74B | $3.05B | $2.92B |
| Income taxes | $886.0M | $842.0M | $290.0M | $940.0M | $1.93B | $539.0M | $300.0M | $513.0M | $1.03B | $723.0M |
| Net income | $4.18B | $4.17B | $2.06B | $4.90B | $7.00B | $3.19B | $2.25B | $3.23B | $2.02B | $2.20B |
| EBITDA | $7.21B | $6.84B | $2.54B | $7.68B | $8.73B | $5.59B | $4.23B | $5.10B | $4.93B | $3.39B |
| EPS (diluted) | $26.37 | $26.07 | $23.29 | $25.55 | $25.62 | $23.64 | $21.22 | $18.49 | $13.28 | $11.76 |
| Gross margin | 19.8% | 20.4% | 100.0% | 20.4% | 20.4% | 20.3% | 21.5% | 22.6% | 23.1% | 23.6% |
| Operating margin | 10.2% | 10.6% | 6.5% | 9.8% | 15.8% | 11.0% | 11.7% | 12.6% | 12.8% | 13.0% |
| Net margin | 10.0% | 10.2% | 5.2% | 13.4% | 19.6% | 8.7% | 6.6% | 10.7% | 7.8% | 9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.88B | $9.88B | $11.71B | $10.42B | $10.35B | $9.47B | $10.69B | $10.00B | $10.22B | $10.13B | $10.64B | $9.78B |
| Cost of revenue | $8.76B | $7.92B | $9.42B | $8.20B | $8.14B | $7.89B | $8.75B | $7.89B | $8.03B | $8.00B | $10.15B | $7.73B |
| Gross profit | $2.12B | $1.96B | $2.30B | $2.23B | $2.21B | $1.58B | $1.93B | $2.11B | $2.19B | $2.13B | $485.0M | $2.04B |
| Research & development | — | — | — | — | — | — | $1.10B | — | — | — | $1.20B | — |
| Sales, general & admin | $1.02B | $971.0M | $1.02B | $985.0M | $1.02B | $1.01B | $843.0M | $986.0M | $1.10B | $1.06B | $878.0M | $1.02B |
| Total operating expenses | $1.02B | $971.0M | $1.26B | $985.0M | $785.0M | $1.01B | $843.0M | $986.0M | $1.10B | $1.06B | $878.0M | $1.02B |
| Operating income | $1.10B | $989.0M | $1.04B | $1.24B | $1.43B | $573.0M | $1.09B | $1.12B | $1.09B | $1.07B | −$393.0M | $1.02B |
| Interest income | — | — | $175.0M | $161.0M | $173.0M | $156.0M | $160.0M | $161.0M | — | — | — | $141.0M |
| Interest expense | $161.0M | $162.0M | $175.0M | $161.0M | $173.0M | $156.0M | $160.0M | $161.0M | $154.0M | $146.0M | $128.0M | $141.0M |
| Income before taxes | $1.17B | $1.03B | $1.74B | $1.32B | $1.43B | $578.0M | $1.55B | $1.19B | $1.15B | $1.13B | −$757.0M | $1.12B |
| Income taxes | $74.0M | $155.0M | $313.0M | $223.0M | $253.0M | $97.0M | $287.0M | $162.0M | $206.0M | $187.0M | −$222.0M | $181.0M |
| Net income | $1.09B | $875.0M | $1.43B | $1.10B | $1.17B | $481.0M | $1.26B | $1.03B | $940.0M | $944.0M | −$535.0M | $937.0M |
| EBITDA | $1.70B | $1.56B | $2.32B | $1.86B | $1.95B | $1.07B | $2.12B | $1.68B | $1.58B | $1.54B | −$229.0M | $1.58B |
| EPS (diluted) | $7.68 | $6.14 | $7.23 | $7.67 | $8.15 | $3.32 | $6.39 | $7.00 | $6.36 | $6.32 | $6.27 | $6.18 |
| Gross margin | 19.5% | 19.8% | 19.6% | 21.4% | 21.4% | 16.7% | 18.1% | 21.1% | 21.4% | 21.1% | 4.6% | 20.9% |
| Operating margin | 10.1% | 10.0% | 8.9% | 11.9% | 13.8% | 6.1% | 10.2% | 11.2% | 10.7% | 10.6% | −3.7% | 10.4% |
| Net margin | 10.1% | 8.9% | 12.2% | 10.6% | 11.3% | 5.1% | 11.8% | 10.3% | 9.2% | 9.3% | −5.0% | 9.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NOC's financial statements (latest annual report filed January 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NOC financial results
In fiscal year 2025 (ended December 31, 2025), Northrop Grumman reported revenue of $42.0 billion, up 2.2% from the year before. It had net income of $4.2 billion (up 0.2%), a net profit margin of 10.0%. Diluted earnings per share came to $26.37. Over five years revenue grew at an average rate of 2.7% a year.
See the NOC stock overview for the latest quote and news, or the NOC chart for price history and technical indicators.
NOC income statement FAQ
What is Northrop Grumman's annual revenue?
Northrop Grumman reported total revenue of $42.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 2.2% from $41.0 billion the previous year.
Is Northrop Grumman profitable?
Yes. Northrop Grumman reported net income of $4.2 billion in fiscal 2025, a net profit margin of 10.0%; its operating margin was 10.2%.
What is Northrop Grumman's gross margin?
Northrop Grumman's gross margin was 19.8% in fiscal 2025: for every $100 of revenue, Northrop Grumman kept $20 after the direct cost of its products and services.
How much does Northrop Grumman spend on research and development?
Northrop Grumman spent $1.1 billion on research and development in fiscal 2025, 2.6% of revenue.
How fast is Northrop Grumman growing?
Revenue grew 2.7% a year on average over the last five fiscal years, from $36.8 billion to $42.0 billion.
What are Northrop Grumman's earnings per share?
Northrop Grumman earned $26.37 per diluted share in fiscal 2025, compared with $26.07 a year earlier.
When will Northrop Grumman report its next earnings?
Northrop Grumman is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 before the market opens.
When does Northrop Grumman's fiscal year end?
Northrop Grumman's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on January 27, 2026.