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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

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Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Northrop Grumman

Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S. Air Force, the U.S. Navy, other U.S. government agencies, and international customers. The Defense Systems segment includes integrated battle management systems, weapons systems and aircraft, and mission systems sustainment and modernization. The Mission Systems segment offers advanced mission solutions and multifunction systems, primarily for the U.S. defense and intelligence community, and international customers. The Space Systems segment delivers end-to-end mission solutions through the design, development, integration, production and operation of space, missile defense, launch and strategic missile systems for national security, civil government, commercial, and international customers. The company was founded by John K. Northrop, Thomas V. Jones, and Kent Kresa in 1939 and is headquartered in Falls Church, VA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Northrop Grumman reports robust Q4 performance and eyes international growth

Northrop Grumman's Q4 2022 earnings call highlighted strong performance, notable achievements, and optimistic growth expectations for 2023. Despite challenges like inflationary pressures and upfront investments impacting free cash flow, the company remains focused on delivering value to shareholders and capitalizing on international opportunities for growth.

Northrop Grumman reports strong Q1 earnings, eyes international growth

Northrop Grumman's Q1 performance showed sales growth and strong earnings, with a positive outlook for the future.
The company's focus on investments in weapons portfolio capacity, hypersonic technology, and space exploration positions it for continued success.
Challenges in the defense sector are being addressed through competitive strategies and a shift towards fixed price contracts.
Opportunities in international markets, missile defense capabilities, and strategic partnerships offer avenues for future growth and expansion.

Northrop Grumman excels in Q2, eyes margin expansion in 2024

Northrop Grumman's Q2 performance reflects strong sales growth and operational efficiency enhancements, underpinned by a proactive approach to challenges and a focus on margin expansion.
The company's strategic capital deployment and growth opportunities in the Space segment position it well for sustained success and shareholder value creation.
Anticipated margin expansion in 2024, alongside disciplined cost management and market tailwinds, bode well for Northrop Grumman's future growth trajectory.

Northrop Grumman reports robust Q3 results, eyes international growth opportunities

Northrop Grumman's Q3 performance reflects financial strength and operational excellence, driven by robust sales growth, profitability, and cash flow generation. While facing challenges in meeting increased demand and navigating tax implications, the company is well-positioned to capitalize on international growth opportunities and maintain its competitive edge in the defense sector.

Northrop Grumman exceeds revenue expectations, addresses B-21 program challenges

Northrop Grumman delivered strong financial performance in 2023, surpassing revenue guidance and demonstrating operational resilience. While facing challenges in the B-21 program, the company remains focused on driving growth, improving margins, and enhancing shareholder value through strategic investments and disciplined decision-making.

Northrop Grumman reports robust Q1 performance and eyes global growth

Northrop Grumman's Q1 performance showcased strong sales growth, margin improvement, and operational efficiency.
The company's focus on global demand, investments in technology, and capital deployment strategy position it for continued success.
Challenges include program timing issues and supply chain concerns, but opportunities in defense technologies and international markets offer growth potential.
Overall, Northrop Grumman's strategic initiatives and financial performance in Q1 2024 indicate a positive outlook for the year.

Northrop Grumman excels in Q2 2024, eyes international growth

Northrop Grumman's Q2 2024 performance reflects robust financial metrics, strategic portfolio alignment with defense priorities, and a focus on sustainable growth. Despite potential challenges in international markets and evolving defense landscapes, the company's strong operational performance and investment strategies signal resilience and growth potential.

Northrop Grumman's Q3 performance reflects operational strength, profitability, and strategic positioning for future growth.
The company's focus on margin expansion, program execution, and international sales growth underscores its commitment to sustained success.
While challenges persist in a competitive landscape, Northrop Grumman remains optimistic about capitalizing on opportunities for growth and performance.

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Northrop Grumman is a low-growth defense contractor with the ability to generate tremendous shareholder wealth. The company has a high free cash flow yield, a low debt load, and advanced products that will guarantee a strong future order flow.

Of Course, I'm Buying Northrop!

Shares of Northrop Grumman Corporation ( NOC , Financial) are higher by nearly 23% since the last time I looked in depth at the company. Back in February, the stock was trading well below its intrinsic value as calculated by GuruFocus.

Why Northrop Grumman Could Go Higher

FALLS CHURCH, Va., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) (“Northrop Grumman”) announced today that it has (i) extended the early tender date from August 13, 2021 (the “Original Early Tender Date”) to 5:00 p.m., New York City time, on August 20, 2021 (the “Extended Early Tender Date”) in connection with its previously announced (A) offers to exchange (the “Exchange Offers”) any and all outstanding notes of Northrop Grumman Systems Corporation (“NGSC”), as set forth in the table below (the “Existing Notes”), for (1) up to $1,171,189,000 aggregate principal amount of new notes issued by Northrop Grumman (the “New Notes”) and (2) cash, and (B) related consent solicitations being made by Northrop Grumman and NGSC (the “Consent Solicitations”) to (1) adopt certain amendments to each of the indentures governing the Existing Notes (the “Indenture Amendments”) and (2) except with respect to NGSC's 7.750% Debentures due 2031, amend and terminate each of the corresponding guarantees currently provided by Northrop Grumman of NGSC's obligations in respect of the applicable series of Existing Notes (the “Guarantee Amendments”, together with the Indenture Amendments, the “Proposed Amendments”) and (ii) increased the cash portion of the consideration offered in the Exchange Offers and waived certain conditions, each as described below. In addition, Northrop Grumman announced that it has extended the withdrawal deadline for each Exchange Offer and Consent Solicitation from August 13, 2021 to 5:00 p.m., New York City time, on August 17, 2021.

Northrop Grumman Corporation Announces Results of Early Participation in Exchange Offers and Consent Solicitations and Amendments to Exchange Offers and Waiver of Conditions

FALLS CHURCH, Va., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) announced it has elected Graham Robinson to its board of directors. Robinson is the senior vice president and president of STANLEY Industrial, a business segment of Stanley Black & Decker, a position he has held since April 2020.

Graham Robinson Joins Northrop Grumman Board of Directors

PLEASANT GROVE, Utah--(BUSINESS WIRE)--Spirent Federal Systems, the nation's leading provider of PNT/GNSS test equipment, announces plans to fully validate the inertial interface between Spirent GNSS simulators and both Northrop Grumman legacy and modernized inertial systems under the EGI‐M program. For years, Spirent Federal has developed inertial interface test tools in collaboration with Northrop Grumman that yield repeatable, accurate results. Northrop Grumman's Embedded Global Positioning

Spirent Federal Systems Teams with Northrop Grumman

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I present 30 High Growth Dividend Stocks for consideration in August 2021. There are 4 new stocks on this month's watchlist, 3 with dividend yields above 2%.

High Growth Dividend Stocks For August 2021

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There are 25 stocks on my dividend growth watchlist for August 2021. Eight of the stocks on my watchlist are currently undervalued.

Dividend Growth Stock Watchlist - August 2021

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Northrop Grumman (NOC) Stock Undervalued Right Now?

FALLS CHURCH, Va., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) (“Northrop Grumman”) announced today that it has commenced offers to eligible holders to exchange (each, an “Exchange Offer” and, collectively, the “Exchange Offers”) any and all outstanding notes of its direct wholly owned subsidiary, Northrop Grumman Systems Corporation (“NGSC”), as set forth in the table below (the “Existing Notes”) for (1) up to $1,171,189,000 aggregate principal amount of new notes issued by Northrop Grumman (the “New Notes”) and (2) cash.

Northrop Grumman Corporation Commences Exchange Offers and Consent Solicitations

Northrop Grumman had a low June month. One month does not make a trend, as we see higher contract awards this year.

Northrop Grumman Contracts Double To $13 Billion Despite Weak Month

Northrop Grumman Corporation (NOC) CEO Kathy Warden on Q2 2021 Results - Earnings Call Transcript

Northrop Grumman's (NOC) second-quarter sales increase 3% year over year, primarily driven by a double-digit increase in the Space Systems' sales.

Northrop Grumman (NOC) Beats on Q2 Earnings, Ups 2021 View

Northrop Grumman Corporation (NYSE: NOC) reported a second-quarter sales increase of 9% year-over-year to $9.2 billion (+10% on an organic basis), beating the consensus of $8.77 billion. Sales by segments: Aeronautics Systems $2.91 billion (flat), Defense Systems $1.43 billion (-24% Y/Y), Mission Systems $2.59 billion (+6% Y/Y), and Space Systems $2.75 billion (+34% Y/Y).

Northrop Grumman Stocks Gains On Q2 Earnings Beat, Raised Guidance

Northrop Grumman (NOC) delivered earnings and revenue surprises of 11.65% and 5.09%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Northrop Grumman (NOC) Surpasses Q2 Earnings and Revenue Estimates

Defense contractor Northrop Grumman Corp. blew past earnings estimates for the second quarter on Thursday, and raised its full-year guidance. The Falls Church, Va.

Northrop Grumman blows past estimates for second quarter, raises guidance

Shares of Northrop Grumman (NYSE:NOC) remained unaffected after the company reported Q2 results. Quarterly Results Earnings per share increased 6.82% year over year to $6.42, which beat the estimate of $5.83.

Northrop Grumman: Q2 Earnings Insights

FALLS CHURCH, Va., July 29, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) has released its second quarter 2021 financial results. A copy of the earnings release has been furnished in the company's Form 8-K filing and is also available on the company's investor relations website at http://investor.northropgrumman.com.

Northrop Grumman Releases Second Quarter 2021 Financial Results

Defense contractor Northrop Grumman Corp raised its full-year forecast on Thursday on the back of continued strength in its space unit which makes satellites and missile systems.

Northrop raises full-year forecast on space unit strength

Northrop Grumman (NOC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Northrop Grumman (NOC) Might Surprise This Earnings Season

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Second-quarter earnings of the Aerospace sector are expected to improve 153% on 13% rise in sales.

4 Defense Stocks Likely to Surpass Q2 Earnings Estimates

Northrop Grumman's (NOC) Q2 earnings might have been hurt by supply chain disruption on account of the COVID-19 impact.

Segment Performance to Aid Northrop Grumman (NOC) Q2 Earnings?

FALLS CHURCH, Va., July 26, 2021 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) will participate in the Jefferies Industrials Conference on Wednesday, August 4. Dave Keffer, corporate vice president and chief financial officer, will present beginning at 9:00 a.m. Eastern time. The presentation will be webcast live at http://investor.northropgrumman.com .

Northrop Grumman to Participate in Jefferies Industrials Conference

Northrop Grumman (NOC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Northrop Grumman (NOC) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

Northrop Grumman (NOC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Can Northrop Grumman (NOC) Keep the Earnings Surprise Streak Alive?

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News for Northrop Grumman Stock (NOC)