Northrop Grumman Corp
northropgrumman.comWhat Do They Do?
Builds military aircraft, weapons and space systems for U.S. government agencies, intelligence customers and international buyers.
10-K for FY2025, filed Jan 27, 2026Northrop Grumman Corporation (herein referred to as “Northrop Grumman,” the “company,” “we,” “us,” or “our”) is a leading global aerospace…View ↗
Aeronautics Systems is a leader in the design, development, production, integration, sustainment and modernization of military aircraft…View ↗
Defense Systems is a leader in the design, engineering, development, integration and production of strategic deterrent systems, advanced…View ↗
Space Systems is a leader in delivering end-to-end mission solutions through the design, development, integration, production and operation…View ↗
How Do They Make Money?
Northrop Grumman earns most of its business through long-term contracts with the U.S. government for development, production and support. Customers are billed monthly as work progresses or at milestones; some contracts are billed monthly or twice a month.
10-K for FY2025, filed Jan 27, 2026
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10-K for FY2025, filed Jan 27, 2026
FY2025 revenue by product or service ↗
$42B
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10-K for FY2025, filed Jan 27, 2026
$42B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Product
|
80%
FY2022: 78%
|
Product, FY2025
$33.7B Sources
|
|
Service
|
20%
FY2022: 22%
|
Service, FY2025
$8.2B Sources
|
Who Are Their Customers?
The U.S. government is the main buyer; Northrop Grumman also serves international and other customers, as a prime contractor or subcontractor.
10-K for FY2025, filed Jan 27, 2026Our largest customer is the U.S. government. Sales to the U.S. government accounted for 84 percent, 87 percent and 86 percent of sales…View ↗
$ in millions U.S.Government(1) International(2) Other Customers Total Percentageof Total Sales Cost-type contracts $ 20,104 $ 794 $ 46 $…View ↗
(1)Sales to the U.S. government include sales from contracts for which we are the prime contractor, as well as those for which we are a…View ↗
(2) International sales include sales from contracts for which we are the prime contractor, as well as those for which we are a…View ↗
10-K for FY2025, filed Jan 27, 2026
Our largest customer is the U.S. government. Sales to the U.S. government accounted for 84 percent, 87 percent and 86 percent of sales…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 8 cents into free cash flow.
10-K for FY2025, filed Jan 27, 2026
$4.5BView ↗
10-K for FY2025, filed Jan 27, 2026
$4.2BView ↗
10-K for FY2025, filed Jan 27, 2026
$3.3BView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 20, 2026
Open tableView ↗
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Jul 21, 2026
Raises full-year sales and adjusted earnings guidance
Sales guidance rose by $250M, and adjusted earnings-per-share guidance by $1.20.
Sources
8-K, filed Jul 21, 2026
Net awards of $20 billion increase backlog to new company record of $105 billion Sales increase 10 percent sequentially and 5 percent…View ↗
Growing. Revenue grew 18% in 4 years, from $35.7B in FY2021 to $42B in FY2025, about 4% a year.
Sale of training services
The older report described mission training in its Mission Readiness business area; the latest report says it sold substantially all of its training services business.
10-K for FY2022, filed Jan 26, 2023
Who Do They Compete With?
Competes with Boeing, General Dynamics, L3Harris Technologies, Lockheed Martin, and RTX
10-K for FY2025, filed Jan 27, 2026We compete with many companies in the defense, intelligence and federal civil markets, including The Boeing Company, General Dynamics…View ↗
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