Northrop Grumman (NOC) Financial Forecast Calculator
Interactive 5-year forecast and DCF for Northrop Grumman. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from Northrop Grumman’s most recent SEC filings.
Assumptions
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Frequently asked
What does Northrop Grumman do and what are its main business segments?+
Northrop Grumman is a top-tier global aerospace and defense technology company providing advanced systems, products, and solutions primarily to the US Department of Defense and allied nations. Its main business segments include Aeronautics Systems, Space Systems, Mission Systems, and Defense Systems.
How does Northrop Grumman generate revenue, and what is its primary business model?+
Northrop Grumman generates revenue through long-term contract-based manufacturing and engineering, serving government clients with advanced defense technologies. Its revenue is driven by converting a substantial contract backlog, which reached $95.7 billion in early 2026, into sales across its various systems.
What is the assumed capital expenditure as a percentage of revenue in the Northrop Grumman financial model?+
The financial model for Northrop Grumman assumes capital expenditure as a percentage of revenue to be approximately 4.0%. This figure is reflective of recent elevated investments, particularly for major programs like the B-21 Raider and Sentinel ICBM facilities.
What is the projected revenue growth rate used in the Northrop Grumman financial model?+
The Northrop Grumman financial model projects a revenue growth rate of approximately 3.8%. This assumption helps forecast future top-line performance, considering the company's contract-based business model and substantial backlog.
What is the purpose of the downloadable Excel model for Northrop Grumman?+
The downloadable Excel model for Northrop Grumman serves as a comprehensive equity valuation and forecasting tool for analysts. It focuses on key aspects such as contract backlog conversion, segment-level margin expansion, and the impact of FAS/CAS pension adjustments on operating cash flow. The model provides forecasts for the FY2026–FY2030 horizon.
What are some key operating expense assumptions used in the Northrop Grumman financial model?+
Key operating expense assumptions in the financial model include Cost of Goods Sold (COGS) at approximately 55% of revenue and Selling, General & Administrative (SGA) expenses at about 9.98% of revenue. Additionally, Research & Development (R&D) is assumed to be around 3.04% of revenue.
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