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Northrop Grumman (NOC) investor relations material
Northrop Grumman Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record backlog of $95.7 billion, driven by $46.3 billion in net awards in 2025 and robust global demand.
2025 sales reached $42.0 billion, up 3% organically, with international sales growth of 20%.
Free cash flow for 2025 was $3.3 billion, up 26% year-over-year.
2025 financial results met or exceeded guidance, positioning for sustainable growth.
Portfolio aligned with U.S. and international defense priorities, focusing on rapid fielding and scalable solutions.
Financial highlights
Q4 2025 sales were $11.7 billion, up 10% year-over-year; full-year sales reached $42.0 billion, up 3% organically.
Q4 segment operating income rose 10% to $1.3 billion; segment margin rate at 11.2%.
Q4 adjusted/MTM-adjusted EPS was $7.23, up 13% year-over-year.
2025 diluted EPS was $29.08; MTM-adjusted EPS was $26.34.
Operating cash flow for 2025 was $4.8 billion, up 8% year-over-year.
Outlook and guidance
2026 sales expected between $43.5–$44.0 billion, representing mid-single-digit growth.
2026 segment operating income projected at $4.85–$5.0 billion; operating margin in the low to mid 11% range.
2026 adjusted/MTM-adjusted EPS expected between $27.40–$27.90, up mid-single digits.
Free cash flow guidance for 2026 is $3.1–$3.5 billion; capital expenditures projected at $1.65 billion.
Growth expected to accelerate through 2026, with further upside in 2027 as backlog converts to revenue.
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Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out. - 4626
Double-digit profit and sales growth, with strong segment results and a stock split impact. - 2371
Revenue up 21.5% YoY, but profit down on higher investments; LiPLUS Holdings acquired. - 3401
Major impairments and divestitures led to a net loss and lower revenue across all segments. - 8002
Profit forecast raised to ¥540.0B and annual dividend to ¥107.50 per share after strong results. - COF
Profit rebounded, NTA and occupancy rose, with strong leasing and premium divestment. - NUF
Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
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