Northrop Grumman (NOC) FY2023 results: revenue $39.3 billion, up 7.3% on the year
Northrop Grumman Corp. (NOC) reported revenue of $39.3 billion for fiscal 2023, the year ended 31 December 2023, up 7.3% on the year before. Net income was $2.1 billion, down 58.0%, and diluted earnings per share $13.53. The figures are the company's own, from the 10-K it filed with the SEC on 25 January 2024.
Revenue
$39.3 billion
+7.3% on the year
FY2016FY2023
Operating margin
6.5%
9.8% a year earlier
FY2016FY2023
Net income
$2.1 billion
-58.0% on the year
FY2016FY2023
Diluted EPS
$13.53
-57.0% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,875
2,901
3,567
+33.6%
Capital expenditure
1,775
1,435
1,415
+23.7%
Free cash flow
2,100
1,466
2,152
+43.2%
Free cash flow margin
5.3%
4.0%
6.0%
Cash from investing
-1,582
-1,241
2,058
Cash from financing
-1,761
-2,613
-7,002
Depreciation and amortisation
1,338
1,342
1,239
-0.3%
Share-based compensation
87.0
99.0
94.0
-12.1%
Buybacks
1,500
1,504
3,705
-0.3%
Dividends paid
1,116
1,052
983
+6.1%
Dividend per share
$7.34
$6.76
$6.16
+8.6%
Diluted shares, weighted
152m
156m
161m
-2.3%
Shares outstanding at period end
150m
153m
156m
-2.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
14,795
15,312
12,926
-3.4%
Debt
13,856
12,877
12,783
+7.6%
Operating lease liabilities
1,892
1,824
1,590
+3.7%
Other liabilities
16,001
13,742
15,280
+16.4%
Total liabilities and equity
46,544
43,755
42,579
+6.4%
Fixed assets
9,653
8,800
7,894
+9.7%
Goodwill
17,517
17,516
17,515
+0.0%
Intangible assets
305
384
578
-20.6%
Cash and equivalents
3,109
2,577
3,530
+20.6%
Receivables
1,454
1,511
1,467
-3.8%
Inventory
1,109
978
811
+13.4%
Other assets
13,397
11,989
10,784
+11.7%
Total assets
46,544
43,755
42,579
+6.4%
10-K for the year ended 31 December 2023, filed 25 January 2024: the filing.