Filing Flows › Northrop Grumman (NOC) › Q2 2026 › vs Q2 2025
Northrop Grumman (NOC) Q2 2026 vs Q2 2025 (year over year)
Northrop Grumman's revenue rose $525M (+5%) from $10.4B in Q2 2025 to $10.9B in Q2 2026. The biggest changes: Product +$550M (+7%); Service −$25.0M (-1%). Operating margin 10.1% against 13.8% (-3.7 pts).
Northrop Grumman, Q2 2026: revenue $10.9B (+5% year over year), operating margin 10.1%, net earnings $1.1B, operating cash flow $1.3B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 10.1% | 13.8% | -3.7 pts |
| Net margin | 10.1% | 11.3% | -1.3 pts |
| Free cash flow margin | 9.0% | 6.2% | +2.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Product | $8.8B | $8.3B | $550M | +7% |
| Service | $2.1B | $2.1B | −$25.0M | -1% |
| Revenue | $10.9B | $10.4B | $525M | +5% |
| Other income, net | $72.0M | $2.0M | $70.0M | 36× |
| Operating profit | $1.1B | $1.4B | −$329M | -23% |
| Costs & expenses | $9.8B | $8.9B | $854M | +10% |
| Pre-tax earnings | $1.2B | $1.4B | −$259M | -18% |
| General & admin | $1.0B | $1.0B | $9.0M | +0.9% |
| Other operating costs | $8.8B | $7.9B | $845M | +11% |
| Net earnings | $1.1B | $1.2B | −$80.0M | -7% |
| Income tax | $74.0M | $253M | −$179M | -71% |
| Depreciation & amortization | $367M | $350M | $17.0M | +5% |
| Share-based compensation | $29.0M | $20.0M | $9.0M | +45% |
| Working capital & other | $210M | $676M | −$466M | -69% |
| Operating cash flow | $1.3B | $868M | $412M | +47% |
| Free cash flow (OCF − capex) | $978M | $637M | $341M | +54% |
| Capital expenditures | $302M | $231M | $71.0M | +31% |
Questions
How much did Northrop Grumman's revenue grow year over year in Q2 2026?
Northrop Grumman's revenue rose $525M (+5%) from $10.4B in Q2 2025 to $10.9B in Q2 2026.
What drove Northrop Grumman's revenue change in Q2 2026?
Product +$550M (+7%); Service −$25.0M (-1%).