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Northrop Grumman vs Garmin: NOC and GRMN compared
Northrop Grumman is the larger company: $11.1B of revenue in its latest quarter (Q3 2026) against $2.0B for Garmin (Q3 2026). Garmin is growing faster (+12% against +7% a year earlier). Garmin is more profitable, with an operating margin of 30.8% against 11.4%.
Where the money goes: NOC and GRMN
Northrop Grumman (NOC) · Q3 2026
Northrop Grumman, Q3 2026: revenue $11.1B (+7% year over year), operating margin 11.4%, net earnings $1.1B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
Garmin (GRMN) · Q3 2026
Garmin, Q3 2026: revenue $2.0B (+12% year over year), operating margin 30.8%, net earnings $542M, operating cash flow $394M. The chart follows the revenue to costs, profit and cash.
| Northrop Grumman (NOC) | Garmin (GRMN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $11.1B | $2.0B |
| Revenue growth, Y/Y | +7% | +12% |
| Gross margin | — | 63.3% |
| Operating margin | 11.4% | 30.8% |
| Net earnings | $1.1B | $542M |
| Net margin | 10.1% | 27.3% |
| Operating cash flow | $1.7B | $394M |
| Free cash flow | $1.4B | $293M |
| Market value | $74.8B | $55.4B |
| P/E | 16.6× | 27.5× |
| Analysts’ mean target | $636.00 | $299.00 |
Where the revenue comes from
Northrop Grumman
- Product: $9.1B (82%)
- Service: $2.0B (18%)
Garmin
- Fitness Segment: $694M (35%)
- Outdoor Segment: $597M (30%)
- Marine Segment: $310M (16%)
- Aviation Segment: $253M (13%)
Questions
Which is bigger, Northrop Grumman or Garmin?
Northrop Grumman is the larger company: $11.1B of revenue in its latest quarter (Q3 2026) against $2.0B for Garmin (Q3 2026).
Is Northrop Grumman or Garmin growing faster?
Garmin is growing faster (+12% against +7% a year earlier).
Which is more profitable, Northrop Grumman or Garmin?
Garmin is more profitable, with an operating margin of 30.8% against 11.4%.
More: Northrop Grumman earnings · how Northrop Grumman makes money · Garmin earnings · how Garmin makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 20, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.