NORTHROP GRUMMAN CORP DE（NOC）の決算・業績分析
NORTHROP GRUMMAN CORP DEの2025年有価証券報告書をAI分析。売上高$42.0B(+2.2%)。営業利益$4.5B。Health Care。
目次
NORTHROP GRUMMAN CORP DEの2025年度 業績サマリー
NORTHROP GRUMMAN CORP DE（証券コード: NOC）の2025年度決算・業績分析。売上高は$42.0B（前年比+2.2%）。営業利益は$4.5B（前年比+3.2%）。純利益は$4.2B（前年比+0.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
NORTHROP GRUMMAN CORP DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 2.6% YoY to $36.6B (XBRL), but operating income fell 36.3% YoY to $3.6B (XBRL) due to program cost overruns and Sentinel program issues (10-K).
- Net income declined 30.1% YoY to $4.9B (XBRL), despite a 13.4% net margin (XBRL) and $2.6B in shareholder returns (XBRL).
- Debt-to-equity ratio rose to 2.07x (XBRL) with $13.8B in long-term debt (XBRL), while ROE remained strong at 32.0% (XBRL).
NORTHROP GRUMMAN CORP DEの売上高変化の要因
- •Revenue grew 2.6% YoY to $36.6B (XBRL), with a 5-year CAGR of 5.5% (XBRL). However, operating income fell 36.3% YoY to $3.6B (XBRL), reflecting a 5-year CAGR decline of -7.7% (XBRL). The Sentinel program breach under the Nunn-McCurdy Act (10-K) and program cost overruns likely contributed to this decline.
NORTHROP GRUMMAN CORP DEの営業利益変化の要因
- •Operating margin declined to 9.8% (XBRL) from prior years, while net margin held at 13.4% (XBRL). EBITDA remained stable at 13.5% (XBRL). Operating income fell 36.3% YoY to $3.6B (XBRL), and net income dropped 30.1% YoY to $4.9B (XBRL).
NORTHROP GRUMMAN CORP DEの事業リスクと対応
Heavy reliance on U.S. government contracts (87% of sales in 2024) exposes the company to budget changes, program cancellations, or funding delays (10-K).
Government funding uncertainties, including continuing resolutions or debt ceiling breaches, could delay payments or reduce orders (10-K).
Contract termination risks for convenience or default could impact profitability and reputation (10-K).
Nunn-McCurdy Act breaches, such as the Sentinel program review, may lead to program restructuring or termination (10-K).
Program cost overruns and delays could trigger congressional notifications and affect financial performance (10-K).
NORTHROP GRUMMAN CORP DEの事業内容
Northrop Grumman is a global aerospace and defense technology company that delivers advanced military systems, including aircraft, missile defense, space systems, and cyber technologies to the U.S. Department of Defense (DoD), intelligence community, and international customers (10-K). Key segments include Aeronautics Systems (e.g., B-21 Raider), Defense Systems, Mission Systems, and Space Systems (10-K). Competitive advantages include advanced technologies, a skilled workforce, and digital transformation (10-K).
NORTHROP GRUMMAN CORP DEのAI業績分析レポート（2024年度）
Northrop Grumman Corp (NOC) FY2024 Annual Report Analysis
Highlights
Business Overview
Northrop Grumman is a global aerospace and defense technology company that delivers advanced military systems, including aircraft, missile defense, space systems, and cyber technologies to the U.S. Department of Defense (DoD), intelligence community, and international customers (10-K). Key segments include Aeronautics Systems (e.g., B-21 Raider), Defense Systems, Mission Systems, and Space Systems (10-K). Competitive advantages include advanced technologies, a skilled workforce, and digital transformation (10-K).
Revenue Analysis
Revenue grew 2.6% YoY to $36.6B (XBRL), with a 5-year CAGR of 5.5% (XBRL). However, operating income fell 36.3% YoY to $3.6B (XBRL), reflecting a 5-year CAGR decline of -7.7% (XBRL). The Sentinel program breach under the Nunn-McCurdy Act (10-K) and program cost overruns likely contributed to this decline.
Profitability Analysis
Operating margin declined to 9.8% (XBRL) from prior years, while net margin held at 13.4% (XBRL). EBITDA remained stable at 13.5% (XBRL). Operating income fell 36.3% YoY to $3.6B (XBRL), and net income dropped 30.1% YoY to $4.9B (XBRL).
Balance Sheet Analysis
Equity ratio increased to 32.9% (XBRL), but debt-to-equity rose to 2.07x (XBRL) with $13.8B in long-term debt (XBRL). Current ratio was 1.15x (XBRL), indicating moderate liquidity. Total assets grew to $46.5B (XBRL) in FY2024 (XBRL).
Cash Flow Analysis
Operating cash flow declined 25.0% YoY to $2.9B (XBRL). Free cash flow (FCF) was $1.5B (XBRL), calculated as $2.9B operating cash flow minus $1.4B CapEx (XBRL). Dividends paid $1.1B (XBRL), and $1.5B was spent on share repurchases (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 5 days (XBRL), with receivables days at 14 days (XBRL), inventory days at 11 days (XBRL), and payables days at 21 days (XBRL).
Risks
Outlook
N/A — Management guidance and forward-looking trends are not explicitly mentioned in the 10-K or XBRL data.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 30.1B | 33.8B | 36.8B | 35.7B | 36.6B | 39.3B |
| Operating Income | 3.8B | 4.0B | 4.1B | 5.7B | 3.6B | 2.5B |
| Net Income | 3.2B | 2.2B | 3.2B | 7.0B | 4.9B | 2.1B |
| Total Assets | 41.1B | 44.5B | 42.6B | 43.8B | 46.5B | 49.4B |
| Total Equity | 8.2B | 8.8B | 10.6B | 12.9B | 15.3B | 14.8B |
| Operating Cash Flow | 3.8B | 4.3B | 4.3B | 3.6B | 2.9B | 3.9B |
Health Careの企業一覧
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