Northrop Grumman (NOC) FY2021 results: revenue $35.7 billion, down 3.1% on the year
Northrop Grumman Corp. (NOC) reported revenue of $35.7 billion for fiscal 2021, the year ended 31 December 2021, down 3.1% on the year before. Net income was $7.0 billion, up 119.7%, and diluted earnings per share $43.54. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2022.
Revenue
$35.7 billion
-3.1% on the year
FY2014FY2021
Operating margin
15.8%
11.0% a year earlier
FY2014FY2021
Net income
$7.0 billion
+119.7% on the year
FY2014FY2021
Diluted EPS
$43.54
+128.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
3,567
4,305
4,297
-17.1%
Capital expenditure
1,415
1,420
1,264
-0.4%
Free cash flow
2,152
2,885
3,033
-25.4%
Free cash flow margin
6.0%
7.8%
9.0%
Cash from investing
2,058
-1,211
-1,207
Cash from financing
-7,002
-432
-2,424
Depreciation and amortisation
1,239
1,267
1,265
-2.2%
Share-based compensation
94.0
90.0
127
+4.4%
Buybacks
3,705
490
744
+656.1%
Dividends paid
983
953
880
+3.1%
Dividend per share
$6.16
$5.67
$5.16
+8.6%
Diluted shares, weighted
161m
168m
170m
-4.0%
Shares outstanding at period end
156m
167m
168m
-6.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
12,926
10,579
8,819
+22.2%
Debt
12,783
15,003
13,879
-14.8%
Operating lease liabilities
1,590
1,343
1,308
+18.4%
Other liabilities
15,280
17,544
17,083
-12.9%
Total liabilities and equity
42,579
44,469
41,089
-4.3%
Fixed assets
7,894
7,071
6,912
+11.6%
Goodwill
17,515
17,518
18,708
-0.0%
Intangible assets
578
783
1,040
-26.2%
Cash and equivalents
3,530
4,907
2,245
-28.1%
Receivables
1,467
1,501
1,326
-2.3%
Inventory
811
759
783
+6.9%
Other assets
10,784
11,930
10,075
-9.6%
Total assets
42,579
44,469
41,089
-4.3%
10-K for the year ended 31 December 2021, filed 27 January 2022: the filing.