Northrop Grumman (NOC) FY2022 results: revenue $36.6 billion, up 2.6% on the year
Northrop Grumman Corp. (NOC) reported revenue of $36.6 billion for fiscal 2022, the year ended 31 December 2022, up 2.6% on the year before. Net income was $4.9 billion, down 30.1%, and diluted earnings per share $31.47. The figures are the company's own, from the 10-K it filed with the SEC on 26 January 2023.
Revenue
$36.6 billion
+2.6% on the year
FY2015FY2022
Operating margin
9.8%
15.8% a year earlier
FY2015FY2022
Net income
$4.9 billion
-30.1% on the year
FY2015FY2022
Diluted EPS
$31.47
-27.7% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
2,901
3,567
4,305
-18.7%
Capital expenditure
1,435
1,415
1,420
+1.4%
Free cash flow
1,466
2,152
2,885
-31.9%
Free cash flow margin
4.0%
6.0%
7.8%
Cash from investing
-1,241
2,058
-1,211
Cash from financing
-2,613
-7,002
-432
Depreciation and amortisation
1,342
1,239
1,267
+8.3%
Share-based compensation
99.0
94.0
90.0
+5.3%
Buybacks
1,504
3,705
490
-59.4%
Dividends paid
1,052
983
953
+7.0%
Dividend per share
$6.76
$6.16
$5.67
+9.7%
Diluted shares, weighted
156m
161m
168m
-3.3%
Shares outstanding at period end
153m
156m
167m
-2.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
15,312
12,926
10,579
+18.5%
Debt
12,877
12,783
15,003
+0.7%
Operating lease liabilities
1,824
1,590
1,343
+14.7%
Other liabilities
13,742
15,280
17,544
-10.1%
Total liabilities and equity
43,755
42,579
44,469
+2.8%
Fixed assets
8,800
7,894
7,071
+11.5%
Goodwill
17,516
17,515
17,518
+0.0%
Intangible assets
384
578
783
-33.6%
Cash and equivalents
2,577
3,530
4,907
-27.0%
Receivables
1,511
1,467
1,501
+3.0%
Inventory
978
811
759
+20.6%
Other assets
11,989
10,784
11,930
+11.2%
Total assets
43,755
42,579
44,469
+2.8%
10-K for the year ended 31 December 2022, filed 26 January 2023: the filing.