NORTHROP GRUMMAN CORP /DE/

Listed Company

NOCCIK 0001133421NYSELarge AcceleratedSearch, Detection, Navigation, Guidance, Aeronautical SysFY ends Dec 31

Period

FY 2025

Revenue

$41.95B

Net Income

$4.18B

Total Assets

$51.38B

Equity

$16.67B

Shares Out

142.03M

Op. Cash Flow

$4.76B

Business

NORTHROP GRUMMAN CORP /DE/ is a global aerospace and defense technology company that designs, develops, integrates and sustains systems for national security, civil government and commercial customers. It provides space systems, military aircraft, missile defense and advanced weapons, mission systems, networking and communications, microelectronics, cyber and related engineering and sustainment services. The company operates through four reportable sectors: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems. Its customers are primarily the U.S. government, allied international governments and select commercial partners through direct contracts and subcontracting channels.

Summary from filing dated 2025-01-30

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	41,954	41,033	39,290	36,602	35,667
Operating income	4,511	4,370	2,537	3,601	5,651
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	9	−2	23	−16	−7
Other Comprehensive Income (Loss), Other Components, Net of Tax	17	−22	2	6	−8
Gain on sale of business	231	0	0	0	1,980
Non-operating FAS pension benefit	541	656	530	—	—
General and administrative expenses	4,033	3,992	4,014	3,873	3,597
Total operating costs and expenses	37,674	36,663	36,753	33,001	31,996
Interest expense	−665	−621	−545	−506	−556
Mark-to-market pension and OPB benefit (expense)	527	443	−422	1,232	2,355
Other, net	154	168	246	4	19
Earnings before income taxes	5,068	5,016	2,346	5,836	8,938
Federal and foreign income tax expense	886	842	290	940	1,933
Net earnings	4,182	4,174	2,056	4,896	7,005
Basic earnings per share	29.14	28.39	13.57	31.61	43.7
Weighted-average common shares outstanding, in millions	144	147	152	155	160
Diluted earnings per share	29.08	28.34	13.53	31.47	43.54
Weighted-average diluted shares outstanding, in millions	144	147	152	156	161
Other comprehensive income (loss), net of tax	26	−24	25	−10	−15
Comprehensive income	4,208	4,150	2,081	4,886	6,990

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	4,403	4,353	3,109	2,577	3,530
Accounts receivable, net	1,375	1,272	1,454	1,511	1,467
Unbilled receivables, net	6,544	5,908	—	—	—
Inventoried costs, net	1,309	1,455	1,109	978	811
Prepaid expenses and other current assets	1,656	1,286	2,341	1,439	1,126
Total current assets	15,287	14,274	13,706	12,488	12,426
Property, plant and equipment, net of accumulated depreciation of $9,648 for 2025 and $8,733 for 2024	10,972	10,536	9,653	8,800	7,894
Operating lease right-of-use assets	1,859	1,770	1,818	1,811	1,655
Goodwill	17,437	17,512	17,517	17,516	17,515
Deferred tax assets	1,051	1,599	1,020	162	200
Non-current assets	3,167	2,184	1,331	—	—
Other non-current assets	1,604	1,484	1,194	2,594	2,311
Total assets	51,377	49,359	46,544	43,755	42,579
Trade accounts payable	3,240	2,599	2,110	2,587	2,197
Accrued employee compensation	2,309	2,271	2,251	2,057	1,993
Advance payments and billings in excess of costs incurred	4,086	4,070	4,193	3,609	3,026
Other current liabilities	4,247	5,188	3,388	3,334	2,314
Total current liabilities	13,882	14,128	11,942	11,587	9,530
Long-term debt, net of current portion of $534 for 2025 and $1,582 for 2024	15,162	14,692	13,786	11,805	12,777
Pension and other postretirement benefit plan liabilities	1,110	1,120	1,290	1,188	3,269
Operating lease liabilities	1,857	1,798	1,892	1,824	1,590
Other non-current liabilities	2,692	2,331	2,839	2,039	1,997
Total liabilities	34,703	34,069	31,749	28,443	29,653
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2025141,997,194 and 2024144,952,026	142	145	150	153	156
Paid-in capital	0	0	0	0	0
Retained earnings	16,658	15,297	14,773	15,312	12,913
Accumulated other comprehensive loss	−126	−152	−128	−153	−143
Total shareholders equity	16,674	15,290	14,795	15,312	12,926
Total liabilities and shareholders equity	51,377	49,359	46,544	43,755	42,579

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,472	1,370	1,338	1,342	1,239
Mark-to-market pension and OPB (benefit) expense	−527	−443	422	−1,232	−2,355
Stock-based compensation	119	101	87	99	94
Deferred income taxes	548	−582	−988	−321	603
B-21 loss provisions	477	0	1,559	0	0
Net periodic pension and OPB income	−346	−438	−308	−1,193	−1,091
Pension and OPB contributions	−130	−129	−139	−136	−141
Accounts receivable, net	−108	182	54	−44	−10
Unbilled receivables, net	−754	−215	247	—	—
Inventoried costs, net	97	−358	−220	−205	−52
Prepaid expenses and other assets	8	35	−86	2	66
Trade accounts payable	−646	−485	469	—	—
Advance payments and billings in excess of costs incurred	−19	123	−587	—	—
Other liabilities	212	875	−401	—	—
Income taxes payable, net	−559	1,143	−658	−279	215
Other operating activities	56	61	−8	46	12
Net cash provided by operating activities	4,757	4,388	3,875	2,901	3,567
Capital expenditures	−1,450	−1,767	−1,775	−1,435	−1,415
Proceeds from Sale, Maturity and Collection of Investments	0	0	197	0	0
Proceeds from Divestiture of Businesses	333	0	0	0	3,400
Other investing activities	−38	18	−4	39	−11
Net cash used in investing activities	−1,155	−1,749	−1,582	−1,241	2,058
Net proceeds from issuance of long-term debt	998	2,495	1,995	0	0
Payments of long-term debt	−1,500	0	−1,050	0	−2,236
Common stock repurchases	−1,624	−2,514	−1,500	−1,504	−3,705
Cash dividends paid	−1,293	−1,186	−1,116	−1,052	−983
Payments of employee taxes withheld from share-based awards	−39	−58	−52	−50	−34
Other financing activities	−94	−132	−38	−7	−44
Net cash used in financing activities	−3,552	−1,395	−1,761	−2,613	−7,002
Increase in cash and cash equivalents	50	1,244	532	−953	−1,377

Filings

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