NOCNorthrop Grumman

Industrials · Defense Electronics · NYSE

Northrop Grumman Corporation (herein referred to as “Northrop Grumman,” the “company,” “we,” “us,” or “our”) is a leading global aerospace and defense technology company. 10-K, Item 1

Employees: 95,000
Headquarters: Falls Church, VA
Next results: around Jan 26, 2027

Compare with peers → Embed

Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

Shares offered

Since Nov 11, 2023: 1 shelf registration; also 2 notes offerings.

Apr 21, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR

“We may offer and sell any combination of the securities described in this prospectus from time to time in one or more offerings, in one or more series and in amounts, at prices and on terms that we will determine at the time of the offering.”
S-3ASR, Apr 21, 2026 ↗

Every offering filing →

Paid in stock

$119.0M

stock-based pay, year to Dec 31, 2025

Bought back

$1.6B

cash paid for its own shares, year to Dec 31, 2025: 13.7× the stock pay

Diluted shares: 143.80M in the year to Dec 31, 2025 2025 -2.4%2024 -3.1%2023 -2.3%2022 -3.3%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

Where the cash came from and where it went

Last year 3 years 5 years

FY2025, from the cash flow statement in the 10-K, added up.

Came from

Operating cash flow NetCashProvidedByUsedInOperatingActivities, 0001133421-26-000003	$4.8B
Debt raised ProceedsFromIssuanceOfLongTermDebt, 0001133421-26-000003	$998.0M
Other, net investments bought and sold, other financing and investing lines, and exchange rates	$162.0M

Went to

Capital spending PaymentsToAcquirePropertyPlantAndEquipment, 0001133421-26-000003	$1.4B
Buybacks PaymentsForRepurchaseOfCommonStock, 0001133421-26-000003	$1.6B
Dividends PaymentsOfDividendsCommonStock, 0001133421-26-000003	$1.3B
Debt repaid RepaymentsOfLongTermDebt, 0001133421-26-000003	$1.5B
Added to cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001133421-26-000003	$50.0M

Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.

Buybacks, year to Dec 31, 2025

$1.6B

cash paid for its own shares

Paid in stock to employees

$119.0M

buybacks were 13.7× this

Share count, 1 year

-2.4%

fewer shares: each share owns more

Share count, 3 years

-7.6%

diluted average shares

Fiscal year to	Buybacks	Dividends	Stock pay	Shares issued for cash	Diluted shares
2025-12-31	$1.6B	$1.3B	$119.0M	-	143.80M
2024-12-31	$2.5B	$1.2B	$101.0M	-	147.30M
2023-12-31	$1.5B	$1.1B	$87.0M	-	152.00M
2022-12-31	$1.5B	$1.1B	$99.0M	-	155.60M
2021-12-31	$3.7B	$983.0M	$94.0M	-	160.90M

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Work on NOC in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/NOC/export.csv") into a cell.