Northrop Grumman (NOC)财务
NYSE · Industrials · Aerospace & Defense · 员工95,000人 · CEO Kathy J. Warden
- 股价
- $557.54 -0.86%
- 市值
- $792亿
- 企业价值
- $921亿
- 最近财报
- Q3 '26 2026-10-20提交
- 下次财报
- 2027-01-26 EPS预期 $7.96
营收(TTM)$436亿+6.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)10.1%-0.5 百分点 对比去年同期营业利润 $43.9亿
净利润(TTM)$45.2亿+12.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$38.3亿+108.8% 对比去年同期资本支出 $14.4亿
稀释EPS(TTM)$31.70+14.0% 对比去年同期最近4个季度之和
净现金-$129亿+25.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $792亿 EV $921亿
- 营收
- $436亿 过去12个月
- 营收增速
- +5% FY2026年一致预期
- 净利润率
- 10.4% 净利润 / 营收,TTM
- P/E
- 17.6× 预期 18.8×(FY2026)
- P/S
- 1.8× 股价 / 营收,TTM
- EV / EBITDA
- 12.4× TTM
- 自由现金流
- $38.3亿 过去12个月
- 净利润
- $45.2亿 过去12个月
- 营收预期
- $441亿 FY2026年一致预期
- 盈利
- 2027-01-26 营收预期 $122亿
- 股息
- $9.56 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-20):营收符合预期,EPS 超预期9.9%营收$111亿,预期$111亿(-0.2%);EPS $7.89,预期$7.18(+9.9%)。
- 营收增长平稳:同比6.7%Q3 '26营收$111亿,此前四个季度的平均值为5.8%。
- 营业利润率10.1%(TTM),较去年同期-0.5 百分点营收增长6.5%,营业利润增长1.5%。
- 税前利润的16.1%来自营业外收益税前利润$52.4亿,营业利润$43.9亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的3.3%(去年为3.9%)最近4个季度投入$14.4亿(同比-10.4%)。自由现金流$38.3亿,相当于净利润的84.7%。
- 股东回报$18.9亿 = 自由现金流的49.3%回购$5.24亿(去年为$16.1亿),股息$13.6亿,股权激励$1.29亿(TTM)。
- 稀释股数一年内减少0.8%Q3 '26稀释股数1.42亿,一年前为1.44亿。
- 净债务 $129亿现金 + 短期投资 $37.4亿,含租赁债务 $166亿;一年前净债务 $173亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $111亿 | $104亿 | +6.7% |
| 毛利率 | 21.1% | 21.4% | -0.2 百分点 |
| 营业利润 | $12.7亿 | $12.4亿 | +2.2% |
| 营业利润率 | 11.4% | 11.9% | -0.5 百分点 |
| 净利润 | $11.2亿 | $11亿 | +2.2% |
| 稀释EPS | $7.89 | $7.67 | +2.9% |
| 经营现金流 | $17.5亿 | $15.6亿 | +12.1% |
| 资本支出 | $3.06亿 | $3.01亿 | +1.7% |
| 自由现金流 | $14.4亿 | $12.6亿 | +14.6% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $2600万 | $2500万 | +4.0% |
实际 vs 一致预期
2026-10-20| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $111亿 | $111亿 | -0.2% |
| EPS(一致预期口径) | $7.89 | $7.18 | +9.9% |
来自2026-10-20发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Defense Systems | $23.1亿 | +12.0% | 19.6% | $84.5亿 | -10.2% | |
| Aeronautics Systems | $35.8亿 | +13.8% | 30.3% | $143亿 | +16.3% | |
| Space Systems | $27.5亿 | +1.9% | 23.3% | $108亿 | +13.6% | |
| Mission Systems | $31.6亿 | +2.0% | 26.8% | $127亿 | +4.2% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Europe | $8.1亿 | -11.8% | 62.6% | $32.4亿 | +1.7% | |
| Asia Pacific | $4.83亿 | -4.2% | 37.4% | $20.1亿 | +10.8% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Aeronautics Systems | – | – | $3.77亿 | +23.6% | – | – | $14.1亿 |
| Defense Systems | – | – | $2.5亿 | +6.8% | – | – | $7.95亿 |
| Mission Systems | – | – | $5亿 | -2.9% | – | – | $19.4亿 |
| Space Systems | – | – | $3.12亿 | +4.7% | – | – | $11.1亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $52.7亿
- 资本支出
- -$14.4亿
- 股票回购
- -$5.24亿
- 股息
- -$13.6亿
- 收购
- $0
- 债务净发行
- -$5.27亿
- 股权激励费用
- $1.29亿
- 自由现金流
- $38.3亿
- 股东回报 / FCF
- 49.3%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 17.6× | 19.3× | 8.9× – 34.5× |
| EV / EBITDA | 12.4× | 13.5× | 8.6× – 20.3× |
| EV / 营收 | 2.1× | 2.3× | 2.1× – 2.7× |
| 股价 / FCF | 20.7× | 34.3× | 24.7× – 57.7× |
| 股价 / 净资产 | 4.2× | 4.9× | 4.5× – 5.5× |
| FCF收益率 | 4.8% | 3.2% | 1.7% – 4.0% |
| 投入资本回报率 | 9.8% | 9.6% | 6.4% – 13.4% |
| 净资产收益率 | 25.7% | 30.5% | 13.9% – 54.2% |
分析师
一致目标价 $616.62 (+10.6%)
区间 $430.00 – $745.00 · 评级 Buy
强烈买入0
买入22
持有13
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $441亿 | +5.1% | $29.67 | +2.0% | 18.8× | 15 |
| FY2027 | $469亿 | +6.4% | $29.86 | +0.6% | 18.7× | 17 |
| FY2028 | $502亿 | +7.0% | $32.57 | +9.1% | 17.1× | 18 |
| FY2029 | $533亿 | +6.2% | $35.25 | +8.2% | 15.8× | 9 |
| FY2030 | $565亿 | +6.0% | $37.87 | +7.4% | 14.7× | 8 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Northrop Grumman Corporation在近期10-Q / 10-K文件中标记的全部244项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $14.4亿 | $5800万 | +2,377.6% | – | – | – | |
| $0 | – | – | – | – | – | |
| Accounts Payable, Current | $32.8亿 | $28亿 | +17.3% | $32.4亿 | $26亿 | +24.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $20.8亿 | $19.8亿 | +4.9% | $13.8亿 | $12.7亿 | +8.1% |
| Accounts Receivable, Allowance for Credit Loss, Current | $500万2025-12-31 | $500万 | 0.0% | $500万 | $500万 | 0.0% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $13.8亿2025-12-31 | $12.8亿 | +8.1% | $13.8亿 | $12.8亿 | +8.1% |
| Accrual for Environmental Loss Contingencies | $5.54亿 | $5.67亿 | -2.3% | $5.47亿 | $5.46亿 | +0.2% |
| Accrued Environmental Loss Contingencies, Current | $2.15亿 | – | – | $8800万2012-12-31 | $8600万 | +2.3% |
| Accrued Environmental Loss Contingencies, Noncurrent | $3.39亿 | – | – | $2.54亿2012-12-31 | $2.36亿 | +7.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $103亿 | $94.3亿 | +9.3% | $96.5亿 | $87.3亿 | +10.5% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$1.31亿 | -$1.29亿 | -1.6% | -$1.31亿 | -$1.4亿 | +6.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.32亿 | -$1.23亿 | -7.3% | -$1.26亿 | -$1.52亿 | +17.1% |
| Additional Paid in Capital, Common Stock | $6300万 | $0 | – | $0 | $0 | – |
| Amortization of Intangible Assets | – | – | – | $4500万 | $5700万 | -21.1% |
| Assets | $525亿 | $493亿 | +6.5% | $514亿 | $494亿 | +4.1% |
| Assets for Plan Benefits, Defined Benefit Plan | $34.5亿 | $25亿 | +37.8% | $31.7亿 | $21.8亿 | +45.0% |
| Assets, Current | $170亿 | $141亿 | +20.4% | $153亿 | $143亿 | +7.1% |
| Capital Expenditures Incurred but Not yet Paid | $4700万 | $600万 | +683.3% | $2.8亿 | $2.42亿 | +15.7% |
| Cash and Cash Equivalents, at Carrying Value | $37.4亿 | $19.6亿 | +91.3% | $44亿 | $43.5亿 | +1.1% |
| Cash Surrender Value of Life Insurance | $4.47亿2025-12-31 | $4.16亿 | +7.5% | $4.47亿 | $4.16亿 | +7.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $37.4亿 | $19.6亿 | +91.3% | $44亿 | $43.5亿 | +1.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $24.5亿2025-12-31 | $10.3亿 | +138.2% | $5000万 | $12.4亿 | -96.0% |
| Common Stock, Dividends, Per Share, Declared | $2.47 | $2.31 | +6.9% | $8.99 | $8.05 | +11.7% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 8亿 | 8亿 | 0.0% | 8亿 | 8亿 | 0.0% |
| Common Stock, Shares, Issued | 1.42亿 | 1.43亿 | -0.5% | 1.42亿 | 1.45亿 | -2.0% |
| Common Stock, Shares, Outstanding | 1.42亿 | 1.43亿 | -0.5% | 1.42亿 | 1.45亿 | -2.0% |
| Common Stock, Value, Issued | $1.42亿 | $1.43亿 | -0.7% | $1.42亿 | $1.45亿 | -2.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $11.3亿 | $11亿 | +2.3% | $42.1亿 | $41.5亿 | +1.4% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $65.4亿2025-12-31 | $59.1亿 | +10.8% | $65.4亿 | $59.1亿 | +10.8% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $79亿 | $70.3亿 | +12.4% | $18.4亿2024-12-31 | $15亿 | +22.5% |
| Contract with Customer, Asset, Allowance for Credit Loss | $900万2025-12-31 | $1400万 | -35.7% | $900万 | $1400万 | -35.7% |
| Contract with Customer, Asset, before Allowance for Credit Loss | $65.5亿2025-12-31 | $59.2亿 | +10.7% | $65.5亿 | $59.2亿 | +10.7% |
| Contract with Customer, Liability, Current | $38.4亿 | $35.6亿 | +7.7% | $40.9亿 | $40.7亿 | +0.4% |
| Contract with Customer, Liability, Revenue Recognized | $5.52亿 | $4.31亿 | +28.1% | $33亿 | $36亿 | -8.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.98亿 | $6.28亿 | -52.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2200万 | $1300万 | +69.2% |
| Debt and Lease Obligation | $157亿2025-12-31 | $163亿 | -3.6% | $157亿 | $163亿 | -3.6% |
| Debt Instrument, Face Amount | – | – | – | $10亿2025-05-31 | – | – |
| Debt Instrument, Unamortized Discount (Premium), Net | $2100万2025-12-31 | $2100万 | 0.0% | $2100万 | $2100万 | 0.0% |
| Debt Issuance Costs, Net | $8100万2025-12-31 | $8300万 | -2.4% | $8100万 | $8300万 | -2.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $5.55亿 | $2.04亿 | +172.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $1100万 | -$300万 | +466.7% |
| Deferred Income Tax Assets, Net | $4.88亿 | $12.6亿 | -61.1% | $10.5亿 | $16亿 | -34.3% |
| Deferred Income Taxes and Tax Credits | $1.98亿 | $4.58亿 | -56.8% | $5.48亿 | -$5.82亿 | +194.2% |
| Deferred Tax Assets, Gross | $60.9亿2025-12-31 | $71亿 | -14.2% | $60.9亿 | $71亿 | -14.2% |
| Deferred Tax Assets, Inventory | $1100万2025-12-31 | $3600万 | -69.4% | $1100万 | $3600万 | -69.4% |
| Deferred Tax Assets, Net | $10.5亿2025-12-31 | $16亿 | -34.3% | $10.5亿 | $16亿 | -34.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $55.1亿2025-12-31 | $65.8亿 | -16.2% | $55.1亿 | $65.8亿 | -16.2% |
| Deferred Tax Assets, Other | $3.01亿2025-12-31 | $2.41亿 | +24.9% | $3.01亿 | $2.41亿 | +24.9% |
| Deferred Tax Assets, Tax Credit Carryforwards | $8.29亿2025-12-31 | $5.62亿 | +47.5% | $8.29亿 | $5.62亿 | +47.5% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $3.78亿2025-12-31 | $3.86亿 | -2.1% | $3.78亿 | $3.86亿 | -2.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $4500万2025-12-31 | $3700万 | +21.6% | $4500万 | $3700万 | +21.6% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $4.88亿2025-12-31 | $4.68亿 | +4.3% | $4.88亿 | $4.68亿 | +4.3% |
| Deferred Tax Assets, Valuation Allowance | $5.82亿2025-12-31 | $5.26亿 | +10.6% | $5.82亿 | $5.26亿 | +10.6% |
| Deferred Tax Liabilities, Goodwill | $5.35亿2025-12-31 | $5.34亿 | +0.2% | $5.35亿 | $5.34亿 | +0.2% |
| Deferred Tax Liabilities, Gross | $44.6亿2025-12-31 | $49.8亿 | -10.4% | $44.6亿 | $49.8亿 | -10.4% |
| Deferred Tax Liabilities, Leasing Arrangements | $5.82亿2025-12-31 | $5.54亿 | +5.1% | $5.82亿 | $5.54亿 | +5.1% |
| Deferred Tax Liabilities, Other | $1.34亿2025-12-31 | $1.27亿 | +5.5% | $1.34亿 | $1.27亿 | +5.5% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $9.83亿2025-12-31 | $8.27亿 | +18.9% | $9.83亿 | $8.27亿 | +18.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01