Northrop Grumman (NOC) 10-K Summaries & Annual Filing History
Review Northrop Grumman Corporation (NOC) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Northrop Grumman Corporation filed its annual 10-K for the most recent fiscal year. The filing describes the company's business, financial results, risk factors, and liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$42B
Revenue reported for the fiscal year.
Operating income
$4.5B
Income from operations reported for the year.
Net income
$4.2B
Net income reported for the year.
Operating cash flow
$4.8B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $36.6B | +2.6% |
| Dec 31, 2023 | $39.3B | +7.3% |
| Dec 31, 2024 | $41B | +4.4% |
| Dec 31, 2025 | $42B | +2.2% |
Business overview
Northrop Grumman is a global aerospace and defense technology company. It provides systems, products, and services in areas such as autonomous systems, space, cyber, and mission systems. The company operates through segments that serve government and commercial customers worldwide.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were reported at levels consistent with the company's scale. Operating cash flow remained positive and supported ongoing operations.
Material risks
The filing identifies risks including dependence on U.S. government contracts, which may be subject to budget uncertainty and changes in procurement priorities. Cybersecurity threats and supply chain disruptions are also noted as material risks. The company faces competition and potential cost overruns on fixed-price contracts.
Liquidity and capital
The company discusses liquidity and capital resources, noting that cash from operations and access to capital markets are expected to meet near-term obligations. Capital allocation priorities include investments in the business and returning value to shareholders.
What to watch
Monitor changes in backlog levels, as they indicate future revenue visibility and demand for the company's products and services.