Northrop Grumman Corporation

NOCNYSEIndustrials● Active

$540.81

$-3.59(-0.66%)

Market Cap$76.8B

P/E Ratio—

52W High$774

52W Low$472.02

Avg Volume828K

Open$542.03

Beta-0.12

Free Cash Flow Financials Revenue

Northrop Grumman Corporation (NOC) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NOC · free cash flow · updated Jun 8, 2026

Core FCF metrics

NOC · FCF · TTM · margin & CAGR

Free cash flow was $3.31B for FY2025 (fiscal year ending 2025-12-31), up 26.2% year-over-year The FCF margin was 7.9%. Five-year CAGR stands at +2.8%.

FY2025 Free Cash Flow$3.31B▲ +26.2% YoY

Trailing 12M (TTM)$3.31Btrailing 4 quarters sum

FCF Margin7.9%$3.31B ÷ revenue

3-Year CAGR+31.1%FY2022 → FY2025

5-Year CAGR+2.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NOC · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.76B(1.45B)$3.31B▲ +26.2%7.9%

FY2024$4.39B(1.77B)$2.62B▲ +24.8%6.4%

FY2023$3.88B(1.77B)$2.10B▲ +43.2%5.3%

FY2022$2.90B(1.44B)$1.47B▼ 31.9%4.0%

FY2021$3.57B(1.42B)$2.15B▼ 25.4%6.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NOC · P/FCF · FCF yield · FCF per share

Northrop Grumman Corporation (NOC) trades at a FCF yield of 4.31% and a price-to-free-cash-flow ratio of 23.5x. FCF per share stands at $23.03, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.31%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$23.03

TTM FCF ÷ Shares Outstanding

Price / FCF

x23.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x27.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

NOC · cash flow statement · operating / investing / financing

For FY2025, Northrop Grumman Corporation generated $4.76B in operating cash flow and spent 1.45B in capital expenditures, yielding $3.31B in free cash flow.

Operating Activities

+$4.76B

Cash from core business operations

2025-12-31

Investing Activities

−$1.16B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$3.55B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.76B) − |CapEx| (1.45B) = FCF ($3.31B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

NOC vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Northrop Grumman CorporationYOU

NOC

$3.31B+26.2%7.9%

32%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Northrop Grumman Corporation (NOC) reported free cash flow of $3.31B for FY2025 (fiscal year ending 2025-12-31), up 26.2% year-over-year. The FCF margin was 7.9%.

Based on available data, Northrop Grumman Corporation has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $3.31B in FY2025. The 5-year CAGR stands at +2.8%.

Northrop Grumman Corporation's FCF yield is 4.31% and price-to-FCF ratio is 23.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NOC free cash flow · 8 questions

Northrop Grumman Corporation free cash flow was $3.31B for FY2025, up 26.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $3.31B.

NOC free cash flowNOC FCFNOC FCF 2025NOC free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Northrop Grumman Corporation · Northrop Grumman Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026