Northrop Grumman Corporation (NOC) - Net Assets
Based on the latest financial reports, Northrop Grumman Corporation (NOC) has net assets worth $17.11 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($50.01 Billion) and total liabilities ($32.89 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Northrop Grumman Corporation tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $17.11 Billion |
| % of Total Assets | 34.23% |
| Annual Growth Rate | 7.57% |
| 5-Year Change | 29.0% |
| 10-Year Change | 217.06% |
| Growth Volatility | 24.41 |
Northrop Grumman Corporation - Net Assets Trend (1985–2025)
This chart illustrates how Northrop Grumman Corporation's net assets have evolved over time, based on quarterly financial data. See NOC defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Northrop Grumman Corporation (1985–2025)
The table below shows the annual net assets of Northrop Grumman Corporation from 1985 to 2025. For live valuation and market cap data, see NOC market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $16.67 Billion | +9.05% |
| 2024-12-31 | $15.29 Billion | +3.35% |
| 2023-12-31 | $14.79 Billion | -3.38% |
| 2022-12-31 | $15.31 Billion | +18.46% |
| 2021-12-31 | $12.93 Billion | +22.19% |
| 2020-12-31 | $10.58 Billion | +19.96% |
| 2019-12-31 | $8.82 Billion | +7.72% |
| 2018-12-31 | $8.19 Billion | +16.16% |
| 2017-12-31 | $7.05 Billion | +34.02% |
| 2016-12-31 | $5.26 Billion | -4.76% |
| 2015-12-31 | $5.52 Billion | -23.68% |
| 2014-12-31 | $7.24 Billion | -31.87% |
| 2013-12-31 | $10.62 Billion | +11.62% |
| 2012-12-31 | $9.51 Billion | -7.95% |
| 2011-12-31 | $10.34 Billion | -23.76% |
| 2010-12-31 | $13.56 Billion | +6.86% |
| 2009-12-31 | $12.69 Billion | +6.43% |
| 2008-12-31 | $11.92 Billion | -32.61% |
| 2007-12-31 | $17.69 Billion | +6.45% |
| 2006-12-31 | $16.61 Billion | -1.27% |
| 2005-12-31 | $16.83 Billion | +0.77% |
| 2004-12-31 | $16.70 Billion | +5.71% |
| 2003-12-31 | $15.80 Billion | +9.25% |
| 2002-12-31 | $14.46 Billion | +92.48% |
| 2001-12-31 | $7.51 Billion | +91.71% |
| 2000-12-31 | $3.92 Billion | +20.33% |
| 1999-12-31 | $3.26 Billion | +14.28% |
| 1998-12-31 | $2.85 Billion | +8.65% |
| 1997-12-31 | $2.62 Billion | +23.26% |
| 1996-12-31 | $2.13 Billion | +45.85% |
| 1995-12-31 | $1.46 Billion | +13.10% |
| 1994-12-31 | $1.29 Billion | -2.42% |
| 1993-12-31 | $1.32 Billion | +5.42% |
| 1992-12-31 | $1.25 Billion | +6.06% |
| 1991-12-31 | $1.18 Billion | +14.51% |
| 1990-12-31 | $1.03 Billion | +18.00% |
| 1989-12-31 | $875.10 Million | -12.80% |
| 1988-12-31 | $1.00 Billion | +5.92% |
| 1987-12-31 | $947.50 Million | +5.43% |
| 1986-12-31 | $898.70 Million | -0.03% |
| 1985-12-31 | $899.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Northrop Grumman Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2104.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $16.66 Billion | 99.90% |
| Common Stock | $142.00 Million | 0.85% |
| Other Comprehensive Income | $-126.00 Million | -0.76% |
| Total Equity | $16.67 Billion | 100.00% |
Northrop Grumman Corporation Competitors by Market Cap
The table below lists competitors of Northrop Grumman Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Brookfield Asset Management Ltd.
NYSE:BAM
|
$74.44 Billion |
|
Eni SpA ADR
NYSE:E
|
$74.54 Billion |
|
Luxshare Precision Industry Co Ltd
SHE:002475
|
$74.56 Billion |
|
ANZ Group Holdings Ltd
AU:ANZ
|
$74.63 Billion |
|
Intuit Inc
NASDAQ:INTU
|
$73.84 Billion |
|
Datadog Inc
NASDAQ:DDOG
|
$73.77 Billion |
|
Cigna Corp
NYSE:CI
|
$73.58 Billion |
|
Norfolk Southern Corporation
NYSE:NSC
|
$73.44 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Northrop Grumman Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 15,290,000,000 to 16,674,000,000, a change of 1,384,000,000 (9.1%).
- Net income of 4,182,000,000 contributed positively to equity growth.
- Dividend payments of 1,293,000,000 reduced retained earnings.
- Share repurchases of 1,624,000,000 reduced equity.
- Other comprehensive income increased equity by 26,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.18 Billion | +25.08% |
| Dividends Paid | $1.29 Billion | -7.75% |
| Share Repurchases | $1.62 Billion | -9.74% |
| Other Comprehensive Income | $26.00 Million | +0.16% |
| Other Changes | $93.00 Million | +0.56% |
| Total Change | $- | 9.05% |
Book Value vs Market Value Analysis
This analysis compares Northrop Grumman Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.50x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 53.72x to 4.50x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $9.71 | $521.50 | x |
| 1986-12-31 | $9.71 | $521.50 | x |
| 1987-12-31 | $10.11 | $521.50 | x |
| 1988-12-31 | $10.56 | $521.50 | x |
| 1989-12-31 | $9.29 | $521.50 | x |
| 1990-12-31 | $10.99 | $521.50 | x |
| 1991-12-31 | $12.54 | $521.50 | x |
| 1992-12-31 | $13.27 | $521.50 | x |
| 1993-12-31 | $13.84 | $521.50 | x |
| 1994-12-31 | $16.77 | $521.50 | x |
| 1995-12-31 | $12.40 | $521.50 | x |
| 1996-12-31 | $16.73 | $521.50 | x |
| 1997-12-31 | $19.27 | $521.50 | x |
| 1998-12-31 | $20.49 | $521.50 | x |
| 1999-12-31 | $23.33 | $521.50 | x |
| 2000-12-31 | $27.65 | $521.50 | x |
| 2001-12-31 | $42.83 | $521.50 | x |
| 2002-12-31 | $62.59 | $521.50 | x |
| 2003-12-31 | $38.63 | $521.50 | x |
| 2004-12-31 | $45.75 | $521.50 | x |
| 2005-12-31 | $46.33 | $521.50 | x |
| 2006-12-31 | $46.33 | $521.50 | x |
| 2007-12-31 | $49.92 | $521.50 | x |
| 2008-12-31 | $35.64 | $521.50 | x |
| 2009-12-31 | $39.24 | $521.50 | x |
| 2010-12-31 | $45.02 | $521.50 | x |
| 2011-12-31 | $36.70 | $521.50 | x |
| 2012-12-31 | $37.55 | $521.50 | x |
| 2013-12-31 | $45.40 | $521.50 | x |
| 2014-12-31 | $34.11 | $521.50 | x |
| 2015-12-31 | $28.82 | $521.50 | x |
| 2016-12-31 | $29.14 | $521.50 | x |
| 2017-12-31 | $40.14 | $521.50 | x |
| 2018-12-31 | $46.89 | $521.50 | x |
| 2019-12-31 | $51.88 | $521.50 | x |
| 2020-12-31 | $63.12 | $521.50 | x |
| 2021-12-31 | $80.34 | $521.50 | x |
| 2022-12-31 | $98.41 | $521.50 | x |
| 2023-12-31 | $97.34 | $521.50 | x |
| 2024-12-31 | $103.80 | $521.50 | x |
| 2025-12-31 | $115.95 | $521.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Northrop Grumman Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 25.08%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.97%
- • Asset Turnover: 0.82x
- • Equity Multiplier: 3.08x
- Recent ROE (25.08%) is above the historical average (16.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 23.85% | 4.24% | 2.17x | 2.59x | $124.50 Million |
| 1986 | 4.58% | 0.73% | 2.08x | 3.00x | $-48.67 Million |
| 1987 | 9.94% | 1.56% | 1.94x | 3.30x | $-550.00K |
| 1988 | -3.08% | -0.53% | 1.85x | 3.13x | $-131.26 Million |
| 1989 | -9.20% | -1.53% | 1.64x | 3.65x | $-168.01 Million |
| 1990 | 20.38% | 3.83% | 1.77x | 3.00x | $107.14 Million |
| 1991 | 22.68% | 4.71% | 1.82x | 2.65x | $149.96 Million |
| 1992 | 9.65% | 2.18% | 1.76x | 2.52x | $-4.40 Million |
| 1993 | 7.26% | 1.90% | 1.72x | 2.22x | $-36.20 Million |
| 1994 | 2.71% | 0.52% | 1.11x | 4.69x | $-94.00 Million |
| 1995 | 17.27% | 3.70% | 1.25x | 3.74x | $106.10 Million |
| 1996 | 11.00% | 2.90% | 0.86x | 4.43x | $21.20 Million |
| 1997 | 15.52% | 4.45% | 0.95x | 3.69x | $144.70 Million |
| 1998 | 6.81% | 2.18% | 0.93x | 3.35x | $-91.00 Million |
| 1999 | 14.34% | 5.19% | 0.97x | 2.85x | $141.30 Million |
| 2000 | 15.51% | 7.98% | 0.79x | 2.46x | $216.10 Million |
| 2001 | 5.78% | 3.15% | 0.65x | 2.83x | $-312.10 Million |
| 2002 | 0.45% | 0.37% | 0.41x | 2.95x | $-1.37 Billion |
| 2003 | 5.49% | 3.30% | 0.79x | 2.09x | $-712.50 Million |
| 2004 | 6.49% | 3.63% | 0.89x | 2.00x | $-586.00 Million |
| 2005 | 8.32% | 4.56% | 0.90x | 2.03x | $-282.80 Million |
| 2006 | 9.28% | 5.11% | 0.94x | 1.93x | $-119.50 Million |
| 2007 | 10.12% | 5.59% | 0.96x | 1.89x | $21.30 Million |
| 2008 | -10.59% | -3.72% | 1.12x | 2.53x | $-2.45 Billion |
| 2009 | 13.29% | 4.99% | 1.12x | 2.38x | $417.30 Million |
| 2010 | 15.14% | 7.29% | 0.89x | 2.33x | $697.30 Million |
| 2011 | 20.49% | 8.02% | 1.04x | 2.46x | $1.08 Billion |
| 2012 | 20.79% | 7.84% | 0.95x | 2.79x | $1.03 Billion |
| 2013 | 18.38% | 7.92% | 0.93x | 2.48x | $890.00 Million |
| 2014 | 28.60% | 8.63% | 0.90x | 3.67x | $1.35 Billion |
| 2015 | 36.04% | 8.46% | 0.96x | 4.43x | $1.44 Billion |
| 2016 | 41.83% | 8.98% | 0.96x | 4.87x | $1.67 Billion |
| 2017 | 28.59% | 7.81% | 0.74x | 4.95x | $1.31 Billion |
| 2018 | 39.44% | 10.73% | 0.80x | 4.60x | $2.41 Billion |
| 2019 | 25.49% | 6.64% | 0.82x | 4.66x | $1.37 Billion |
| 2020 | 30.14% | 8.67% | 0.83x | 4.20x | $2.13 Billion |
| 2021 | 54.19% | 19.64% | 0.84x | 3.29x | $5.71 Billion |
| 2022 | 31.97% | 13.38% | 0.84x | 2.86x | $3.36 Billion |
| 2023 | 13.90% | 5.23% | 0.84x | 3.15x | $576.50 Million |
| 2024 | 27.30% | 10.17% | 0.83x | 3.23x | $2.65 Billion |
| 2025 | 25.08% | 9.97% | 0.82x | 3.08x | $2.51 Billion |
Industry Comparison
This section compares Northrop Grumman Corporation's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $2,232,025,051
- Average return on equity (ROE) among peers: -3.92%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Northrop Grumman Corporation (NOC) | $17.11 Billion | 23.85% | 1.92x | $74.07 Billion |
| Archer Aviation Inc (ACHR) | $2.20 Billion | -28.06% | 0.12x | $4.25 Billion |
| AAR Corp (AIR) | $1.03 Billion | 7.61% | 0.52x | $4.68 Billion |
| Air Industries Group (AIRI) | $17.77 Million | -126.93% | 2.42x | $14.65 Million |
| AIRO Group Holdings, Inc. Common Stock (AIRO) | $623.00 Million | -4.10% | 0.18x | $219.09 Million |
| Arxis, Inc. Class A Common Stock (ARXS) | $2.98 Billion | -1.86% | 1.12x | $3.04 Billion |
| Astronics Corporation (ATRO) | $42.94 Million | 10.60% | 0.57x | $2.42 Billion |
| AeroVironment Inc (AVAV) | $233.42 Million | 8.87% | 0.21x | $8.52 Billion |
| AEVEX Corp. (AVEX) | $164.27 Million | 47.82% | 2.39x | $928.62 Million |
| Axon Enterprise Inc. (AXON) | $27.43 Million | 16.24% | 0.15x | $34.13 Billion |
| The Boeing Company (BA) | $15.00 Billion | 30.57% | 5.18x | $174.71 Billion |
About Northrop Grumman Corporation
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. It operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems. The Aeronautics Systems segment designs, develops, produces, integrates, sustains, and modernizes aircraft systems. This segment also offers … Read more