Northrop Grumman Corporation

NYSE:NOC Stock Report

Market Cap: US$81.3b

Northrop Grumman Future Growth

Future criteria checks 1/6

Northrop Grumman is forecast to grow earnings and revenue by 2.5% and 5.3% per annum respectively. EPS is expected to grow by 2.9% per annum. Return on equity is forecast to be 21.1% in 3 years.

Key information

2.5%

Earnings growth rate

2.92%

EPS growth rate

Aerospace & Defense earnings growth18.2%
Revenue growth rate5.3%
Future return on equity21.09%
Analyst coverage

Good

Last updated27 Apr 2026

Recent future growth updates

Recent updates

NOC: War Time Demand And Space AI Progress Will Shape Returns

Northrop Grumman's analyst price target has been cut by about $14, as analysts factor in a slightly higher discount rate and updated Street targets that reflect several recent cuts along with earlier increases. Analyst Commentary Recent Street research on Northrop Grumman shows a mix of optimistic and cautious views, with several firms adjusting price targets both higher and lower over the past few months.

Northrop Grumman: The Nuclear Triad Winner Is Now A Strong Buy

Apr 23

NOC: Sector Momentum And Policy Uncertainty Will Shape War Time Returns

Analysts have lifted the implied fair value for Northrop Grumman by about $10 to roughly $736 per share, reflecting Street research that cites updated expectations for revenue growth, profit margins and sector momentum in recent price target revisions across firms such as Jefferies, Citi and others. Analyst Commentary Recent research points to a cluster of higher price targets on Northrop Grumman, with several firms revising their models after updating assumptions for revenue, margins and sector trends.

NOC: The Architect of the New Nuclear Triad

Northrop Grumman Corporation (NOC) is currently solidifying its position as the premier partner for the United States' long-term strategic modernization. As of the market close on March 27, 2026, the stock is trading at $678.74 USD on the NYSE, experiencing a period of technical consolidation after hitting a 52-week high of $774 earlier in the year.

NOC: Future Defense Budgets And Policy Limits Will Shape Returns

Analysts have slightly raised price targets for Northrop Grumman, with the model fair value estimate moving by about $1 to $725.72. This change reflects refinements to assumptions around discount rates, long term revenue growth, profit margins, and future P/E multiples in light of a series of recent target increases across the Street.

NOC: Future Defense Budgets And China Sanctions Will Shape Returns

Analysts have increased their average price targets on Northrop Grumman by triple-digit dollar amounts across multiple firms, citing updated sector estimates, refined modeling assumptions, and a modest adjustment to discount rates and future P/E expectations. Analyst Commentary Recent research updates cluster around sizable price target revisions and refreshed models, giving you a clearer view of how the Street is framing risk and reward for Northrop Grumman right now.

NOC: Future Defense Budgets And China Sanctions Will Shape Cash Flow

Our analyst price target for Northrop Grumman has been adjusted higher by about $3 to reflect a modestly higher fair value estimate and slightly richer future P/E assumptions, in line with a broad wave of recent target increases across the Street. Analyst Commentary The recent wave of target changes reflects a cluster of fresh views on Northrop Grumman, with several firms updating models and valuation frameworks at roughly the same time.

NOC: Future Defense Budgets And Sanctions Will Shape Cash Flow Durability

Analysts have lifted their price targets on Northrop Grumman in recent weeks, and our fair value estimate has moved up by about US$41 to US$721. This reflects slightly lower assumed discount rates, modestly adjusted long term growth and margin expectations, and a higher future P/E multiple in line with updated Street research.

NOC: Future Defense Budgets And Buyback Curbs Will Shape Cash Flow Durability

Analysts have lifted their price targets for Northrop Grumman, supporting a fair value move from about US$665.20 to roughly US$680.44 as they factor in updated sector views, modestly higher projected revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent research updates cluster around higher price targets and refreshed sector views, with analysts adjusting their models for Northrop Grumman as new policy headlines and defense budget discussions emerge.

NOC: Future Defense Budgets And Buyback Limits Will Shape Cash Flow Durability

Analysts have nudged their fair value estimate for Northrop Grumman to about $665 per share from roughly $663, reflecting recent price target increases anchored in expectations for mid single digit organic growth, relatively stable guidance into 2026, and potential budget tailwinds for key defense programs such as Sentinel, B 21, TACAMO, E 2D, and related nuclear deterrence and munitions work, while also factoring in scenario analysis around future buyback constraints. Analyst Commentary Recent research paints a mixed picture for Northrop Grumman, with optimism around growth visibility and program funding set against questions about future capital returns and policy risk.

NOC: Future Defense Budgets Will Drive Durable Cash Flows And Share Outperformance

Analysts have nudged their consolidated price target for Northrop Grumman modestly higher to reflect stable mid single digit organic growth, improving long term cash flow visibility from programs like B 21 and Sentinel, and increased budget support across key defense platforms, while fair value edged slightly lower from approximately $667 to $663 per share as a lower discount rate and marginally stronger profit margin outlook were largely offset by a slightly reduced future P E multiple. Analyst Commentary Bullish analysts highlight that Northrop Grumman's outlook remains steady, with guidance pointing to mid single digit organic growth through 2026 and visibility into long duration defense programs that underpin both revenue and margin durability.

NOC: Future Defense Budgets Will Support Cash Flows And Share Outperformance

Analysts have modestly raised their price target on Northrop Grumman to approximately $670 per share, reflecting confidence in the company’s stable mid single digit growth outlook, expanding 2026 budget visibility across key programs, and improving long term cash generation from platforms like B 21 and Sentinel. Analyst Commentary Recent Street research reflects a generally constructive stance on Northrop Grumman, with multiple price target increases clustered around the mid to high $600s and at least one upgrade to a Buy rating.

NOC: Defense Spending Increases Will Drive Outperformance Amid Lower Execution Risks

Northrop Grumman’s analyst price target has been raised by analysts from approximately $665 to $667 per share. This reflects stable outlooks and optimism over growth in key defense programs and future cash generation.

NOC: Multi-Year Budget Allocations Will Likely Drive Strong Defense Sector Upside

Northrop Grumman's analyst price target was recently raised by analysts from approximately $647 to $665 per share. The increase reflects confidence in the company's stable growth outlook, strong alignment with strategic defense priorities, and anticipated benefits from new budget allocations and program execution.

Analysts Boost Northrop Grumman Price Target Amid Defense Growth and Mixed Sector Outlook

Northrop Grumman's analyst price target was raised from approximately $616 to $647. Analysts cited increased confidence in the company's long-term defense program exposure and strong positioning within key Department of Defense budget priorities.

US And Allied Defense Budgets Will Unlock New Opportunities

Northrop Grumman’s analyst price target has been raised from $603.32 to $615.56, reflecting analysts’ increased confidence in the company’s improving revenue growth, expanding profit margins, and favorable positioning within defense sector budgets. Analyst Commentary Recent analyst research has showcased a largely optimistic outlook on Northrop Grumman, with multiple firms raising their price targets and affirming positive ratings.

US And Allied Defense Budgets Will Unlock New Opportunities

Analysts have raised Northrop Grumman’s price target to $603.32, citing accelerating revenue growth tied to Department of Defense priorities, robust international sales momentum, and strong Q2 performance, while valuation concerns and uncertainty around future earnings temper some optimism. Analyst Commentary Bullish analysts highlight accelerating revenue growth projected for the second half of 2025, underpinned by alignment with Department of Defense budget priorities and management’s positive outlook.

An Intrinsic Calculation For Northrop Grumman Corporation (NYSE:NOC) Suggests It's 21% Undervalued

Jul 06
An Intrinsic Calculation For Northrop Grumman Corporation (NYSE:NOC) Suggests It's 21% Undervalued

Does Northrop Grumman (NYSE:NOC) Have A Healthy Balance Sheet?

Jun 20
Does Northrop Grumman (NYSE:NOC) Have A Healthy Balance Sheet?

Northrop Grumman's (NYSE:NOC) Shareholders Will Receive A Bigger Dividend Than Last Year

May 27
Northrop Grumman's (NYSE:NOC) Shareholders Will Receive A Bigger Dividend Than Last Year

Northrop Grumman Corporation's (NYSE:NOC) Share Price Could Signal Some Risk

May 08
Northrop Grumman Corporation's (NYSE:NOC) Share Price Could Signal Some Risk

Northrop Grumman: B-21 Blow Triggers Earnings Disappointment

Apr 25

Northrop Grumman Q1 Preview: A Hedge Amid Global Restructuring (Rating Upgrade)

Apr 18

Weighing Northrop Grumman As The F/A-XX Program Winner (Rating Downgrade)

Mar 31

Northrop Grumman: The Forgotten Winner Of Boeing's F-47

Mar 24

Northrop Grumman: Buy The Dip As Recent Contract Wins Could Drive Growth

Mar 09

Northrop Grumman: Technological Innovation Can Fuel Future Success

Jan 31

Northrop Grumman: Double-Digit Free Cash Flow And Why I Am Buying More

Dec 12

Northrop Grumman Could Offer Investors A Lucrative Return

Nov 08

Northrop Grumman: A High-Flying Defense Stock For Total Return Investors

Oct 13

Northrop Grumman Doesn't Need War To Be A Great Investment

Oct 03

Growing Cash Flows, Strong Defense Demand Position Northrop Grumman For Long-Term Success

Sep 01

Earnings and Revenue Growth Forecasts

NYSE:NOC - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202849,6074,5583,6675,48016
12/31/202746,7784,2373,4965,21322
12/31/202643,9503,9823,3095,08122
3/31/202642,3674,5763,3054,666N/A
12/31/202541,9544,1823,3074,757N/A
9/30/202540,9284,0191,8343,438N/A
6/30/202540,5013,9451,3082,972N/A
3/31/202540,3683,7111,7763,529N/A
12/31/202441,0334,1742,6214,388N/A
9/30/202440,9852,3752,4864,240N/A
6/30/202440,7642,2862,6254,377N/A
3/31/202440,1222,1582,1353,871N/A
12/31/202339,2902,0562,1003,875N/A
9/30/202338,6854,6712,0923,696N/A
6/30/202337,8814,6492,2623,803N/A
3/31/202337,1064,7831,1872,687N/A
12/31/202236,6024,8961,4662,901N/A
9/30/202235,2085,5265562,092N/A
6/30/202234,9575,6744331,920N/A
3/31/202235,3075,7651,6913,145N/A
12/31/202135,6677,0052,1523,567N/A
9/30/202137,2404,6252,4533,727N/A
6/30/202137,6034,5482,6093,923N/A
3/31/202137,3364,5163,8795,232N/A
12/31/202036,7993,1892,8854,305N/A
9/30/202035,3082,4503,8685,167N/A
6/30/202034,7002,3973,6784,947N/A
3/31/202034,2722,2532,9654,217N/A
12/31/201933,8412,248N/A4,297N/A
9/30/201933,2763,013N/A4,210N/A
6/30/201932,8863,324N/A3,883N/A
3/31/201931,5493,252N/A3,151N/A
12/31/201830,0953,229N/A3,827N/A
9/30/201828,4913,894N/A3,057N/A
6/30/201826,9753,293N/A3,183N/A
3/31/201826,3293,059N/A2,815N/A
12/31/201726,0042,869N/A2,613N/A
9/30/201725,8492,373N/A2,537N/A
6/30/201725,4352,332N/A2,337N/A
3/31/201724,9622,294N/A2,434N/A
12/31/201624,7062,043N/A2,813N/A
9/30/201623,8052,134N/A2,915N/A
6/30/201623,6292,048N/A2,734N/A
3/31/201623,5252,062N/A2,756N/A
12/31/201523,5261,990N/A2,162N/A
9/30/201523,9402,037N/A2,019N/A
6/30/201523,9451,994N/A2,395N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NOC's forecast earnings growth (2.5% per year) is below the savings rate (3.4%).

Earnings vs Market: NOC's earnings (2.5% per year) are forecast to grow slower than the US market (15.8% per year).

High Growth Earnings: NOC's earnings are forecast to grow, but not significantly.

Revenue vs Market: NOC's revenue (5.3% per year) is forecast to grow slower than the US market (11% per year).

High Growth Revenue: NOC's revenue (5.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NOC's Return on Equity is forecast to be high in 3 years time (21.1%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/30 04:12
End of Day Share Price 2026/04/30 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Northrop Grumman Corporation is covered by 35 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John EadeArgus Research Company
Peter ArmentBaird
Joseph CampbellBarclays