Filing Flows › Industrials › Northrop Grumman (NOC)
Northrop Grumman (NOC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 20, 2026 · Northrop Grumman (NOC) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $11.1B · 10¢ of every $1 of revenue kept as net profit · operating margin 11.4%
Northrop Grumman made $11.1B in Q3 2026 (+7% Y/Y): Product $9.1B, Service $2.0B. Operating margin 11.4%, net earnings $1.1B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 20, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter
Revenue was $11.1B in Q3 2026, up 7% year over year and up 2% from the previous quarter. Product was the largest line at 82% of revenue. Product added $0.73B year over year (up 9%), 104% of the total change. Service declined 1%.
Operating profit was $1.3B, a 11.4% margin (down 0.5 points year over year). Of the extra revenue versus Q3 2025, 4% reached operating profit, below the 12% margin then. Total costs grew 7% against revenue growth of 7%. Net earnings were $1.1B, up 2% year over year. The effective tax rate was 13.4%.
Operating cash flow was $1.7B (up 12% year over year), 155% of net earnings. Non-cash charges added back $0.38B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.22B. Capital expenditures of $0.31B left free cash flow of $1.4B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 20, 2026 | $11.1B | +7% | 11.4% | $1.1B | $1.7B |
| Q2 2026 | 10-Q | Jul 21, 2026 | $10.9B | +5% | 10.1% | $1.1B | $1.3B |
| Q1 2026 | 10-Q | Apr 21, 2026 | $9.9B | +4% | 10.0% | $875M | −$1.7B |
| Q4 2025 | 10-K | Jan 27, 2026 | $11.7B | +10% | 10.9% | $1.4B | $3.9B |
| Q3 2025 | 10-Q | Oct 21, 2025 | $10.4B | +4% | 11.9% | $1.1B | $1.6B |
| Q2 2025 | 10-Q | Jul 22, 2025 | $10.4B | +1% | 13.8% | $1.2B | $868M |
| Q1 2025 | 10-Q | Apr 22, 2025 | $9.5B | -7% | 6.1% | $481M | −$1.6B |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- U.S. government — 84% of its revenue · Stated in 10-K (sentence) · source
- usgov · named in a filing
- foreign · named in a filing
Buys from
- SYPR — 63% of the supplier’s revenue · Stated in 10-K (sentence) · source
- MRCY — 10% of the supplier’s revenue · Stated in 10-K (sentence) · source
- AIRI — 7% of the supplier’s revenue · Stated in 10-K (customer table) · source
- DCO — 6% of the supplier’s revenue · Stated in 10-K (customer table) · source
About Northrop Grumman
Northrop Grumman Corporation (herein referred to as “Northrop Grumman,” the “company,” “we,” “us,” or “our”) is a leading global aerospace and defense technology company. We deliver a broad range of products, services and solutions to U.S. and international customers, and principally to the U.S. Department of War (“DoW”) and intelligence community. Our broad portfolio is aligned to support national security priorities and our solutions equip our customers with capabilities they need to connect, protect and advance humanity. The company is a leading provider of space systems, military aircraft, missile defense, advanced weapons and long-range fires capabilities, mission systems, networking and communications, strategic deterrence systems, and breakthrough technologies, such as advanced computing, microelectronics and cyber.
In its own words, from its 10-K, filed Jan 27, 2026.
Northrop Grumman against its Search, Detection, Navigation, Guidance, Aeronautical Sys peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +9%. Operating margin: 11.4% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NOC Northrop Grumman | Q3 2026 | $11.1B | +7% | 11.4% |
| LHX L3Harris Technologies | Q3 2026 | $6.1B | +7% | 13.0% |
| GRMN Garmin | Q3 2026 | $2.0B | +12% | 30.8% |
| TDY Teledyne Technologies | Q3 2026 | $1.7B | +9% | 20.6% |
| DRS Leonardo DRS | Q3 2026 | $1.1B | +11% | 10.9% |
| LUNR Intuitive Machines | Q2 2026 | $206M | +310% | -22.9% |
| LYNX Lyntris | Q3 2026 | $194M | +90% | 5.7% |
| CODA Coda Octopus Group | Q3 FY26 | $7.7M | +9% | 19.9% |
| MIND Mind Technology | Q2 FY27 | $5.6M | -58% | -31.9% |
Source: Northrop Grumman 10-Q on SEC EDGAR · CIK 1133421 · Search, Detection, Navigation, Guidance, Aeronautical Sys
Guidance and outlook
13F: who owns NOC and who is buying
More on NOC
- How Northrop Grumman makes money: revenue by segment
- Northrop Grumman stock forecast, price target and fair value
- Who owns Northrop Grumman stock: holders, funds and Congress trades
- Northrop Grumman guidance and outlook
- Is Northrop Grumman a takeover target? LBO and rumors
- Northrop Grumman recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Northrop Grumman guidance history: guided vs reported
- Northrop Grumman operating margin by quarter
- Northrop Grumman net income by quarter
- Northrop Grumman free cash flow by quarter
- Northrop Grumman capital expenditures by quarter
- Northrop Grumman Product revenue by quarter
- Northrop Grumman Service revenue by quarter
