Northrop Grumman (NOC) 10-K Summary — Year Ended Dec 31, 2023
Northrop Grumman reported higher revenue for the latest annual period compared to the prior year. Operating income and net income were also reported, along with operating cash flow.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Northrop Grumman reported higher revenue for the latest annual period compared to the prior year. Operating income and net income were also reported, along with operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$39.3B
Revenue reported for the fiscal year.
Operating income
$2.5B
Income from operations reported for the year.
Net income
$2.1B
Net income reported for the year.
Operating cash flow
$3.9B
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, 2021 | $35.7B | n/a |
| Dec 31, 2022 | $36.6B | +2.6% |
| Dec 31, 2023 | $39.3B | +7.3% |
Business overview
Northrop Grumman is a global aerospace and defense technology company. The company operates through segments that provide products and services in areas such as space systems, aeronautics, mission systems, and defense services. Its business overview is described in Item 1 of the filing.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were reported for the period. Operating cash flow was also disclosed. The filing includes a management discussion and analysis of financial condition and results of operations.
Material risks
The filing identifies risk factors in Item 1A, which cover areas such as business operations, government contracts, and cybersecurity. These risks are described in the risk factors section and should be considered as stated in the filing.
Liquidity and capital
The liquidity and capital resources section discusses the company's cash flows and capital allocation. Operating cash flow was reported, and the filing provides an analysis of liquidity and capital resources.
What to watch
Monitor changes in backlog and segment operating results in the next filing.