Northrop Grumman (NOC) FY2024 results: revenue $41.0 billion, up 4.4% on the year
Northrop Grumman Corp. (NOC) reported revenue of $41.0 billion for fiscal 2024, the year ended 31 December 2024, up 4.4% on the year before. Net income was $4.2 billion, up 103.0%, and diluted earnings per share $28.34. The figures are the company's own, from the 10-K it filed with the SEC on 30 January 2025.
Revenue
$41.0 billion
+4.4% on the year
FY2017FY2024
Operating margin
10.6%
6.5% a year earlier
FY2017FY2024
Net income
$4.2 billion
+103.0% on the year
FY2017FY2024
Diluted EPS
$28.34
+109.5% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
4,388
3,875
2,901
+13.2%
Capital expenditure
1,767
1,775
1,435
-0.5%
Free cash flow
2,621
2,100
1,466
+24.8%
Free cash flow margin
6.4%
5.3%
4.0%
Cash from investing
-1,749
-1,582
-1,241
Cash from financing
-1,395
-1,761
-2,613
Depreciation and amortisation
1,370
1,338
1,342
+2.4%
Share-based compensation
101
87.0
99.0
+16.1%
Buybacks
2,514
1,500
1,504
+67.6%
Dividends paid
1,186
1,116
1,052
+6.3%
Dividend per share
$8.05
$7.34
$6.76
+9.7%
Diluted shares, weighted
147m
152m
156m
-3.1%
Shares outstanding at period end
145m
150m
153m
-3.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
15,290
14,795
15,312
+3.3%
Debt
16,274
13,856
12,877
+17.5%
Operating lease liabilities
1,798
1,892
1,824
-5.0%
Other liabilities
15,997
16,001
13,742
-0.0%
Total liabilities and equity
49,359
46,544
43,755
+6.0%
Fixed assets
10,536
9,653
8,800
+9.1%
Goodwill
17,512
17,517
17,516
-0.0%
Intangible assets
254
305
384
-16.7%
Cash and equivalents
4,353
3,109
2,577
+40.0%
Receivables
1,272
1,454
1,511
-12.5%
Inventory
1,455
1,109
978
+31.2%
Other assets
13,977
13,397
11,989
+4.3%
Total assets
49,359
46,544
43,755
+6.0%
10-K for the year ended 31 December 2024, filed 30 January 2025: the filing.