Filing Flows › Northrop Grumman (NOC) › Q2 2025
Northrop Grumman (NOC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 22, 2025
Northrop Grumman (NOC) reported revenue of $10.4B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +9% from the quarter before. Operating margin was 13.8%, net earnings $1.2B (11.3% of revenue).
Northrop Grumman, Q2 2025: revenue $10.4B (+1% year over year), operating margin 13.8%, net earnings $1.2B, operating cash flow $868M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.4B | +9% | +1% |
| Operating profit | $1.4B | +149% | +31% |
| Net earnings | $1.2B | +144% | +25% |
| Operating cash flow | $868M | — | -39% |
| Free cash flow | $637M | — | -42% |
What changed
Revenue was $10.4B in Q2 2025, up 1% year over year and up 9% from the previous quarter. Product was the largest line at 80% of revenue. Product added $0.18B year over year (up 2%), 137% of the total change. Service declined 2%.
Operating profit was $1.4B, a 13.8% margin (up 3.1 points year over year). Of the extra revenue versus a year earlier, 252% reached operating profit, above the 11% margin then. Total costs fell 2% while revenue rose 1%. Net earnings were $1.2B, up 25% year over year. The effective tax rate was 17.7%.
Operating cash flow was $0.87B (down 39% year over year), 74% of net earnings. Non-cash charges added back $0.35B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.68B. Capital expenditures of $0.23B left free cash flow of $0.64B.
Questions
What was Northrop Grumman's revenue in the second quarter 2025?
Northrop Grumman (NOC) reported revenue of $10.4B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +9% from the quarter before.
Was Northrop Grumman profitable in the second quarter 2025?
Operating profit was $1.4B (13.8% of revenue) and net earnings $1.2B.
Source: Northrop Grumman 10-Q on SEC EDGAR.