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NOC (Northrop Grumman) E10 : $24.21 (As of Mar. 2025)


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What is Northrop Grumman E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Northrop Grumman's adjusted earnings per share data for the three months ended in Mar. 2025 was $3.320. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $24.21 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Northrop Grumman's average E10 Growth Rate was 8.10% per year. During the past 3 years, the average E10 Growth Rate was 11.00% per year. During the past 5 years, the average E10 Growth Rate was 16.20% per year. During the past 10 years, the average E10 Growth Rate was 16.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Northrop Grumman was 20.80% per year. The lowest was -2.00% per year. And the median was 12.60% per year.

As of today (2025-07-22), Northrop Grumman's current stock price is $563.79. Northrop Grumman's E10 for the quarter that ended in Mar. 2025 was $24.21. Northrop Grumman's Shiller PE Ratio of today is 23.29.

During the past 13 years, the highest Shiller PE Ratio of Northrop Grumman was 42.69. The lowest was 18.38. And the median was 25.95.


Northrop Grumman E10 Historical Data

The historical data trend for Northrop Grumman's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Northrop Grumman E10 Chart

Northrop Grumman Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.03 17.46 20.75 21.71 23.88

Northrop Grumman Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.39 22.85 23.33 23.88 24.21

Competitive Comparison of Northrop Grumman's E10

For the Aerospace & Defense subindustry, Northrop Grumman's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Northrop Grumman's Shiller PE Ratio Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Northrop Grumman's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Northrop Grumman's Shiller PE Ratio falls into.


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Northrop Grumman E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Northrop Grumman's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=3.32/134.9266*134.9266
=3.320

Current CPI (Mar. 2025) = 134.9266.

Northrop Grumman Quarterly Data

per share eps CPI Adj_EPS
201506 2.740 100.684 3.672
201509 2.750 100.392 3.696
201512 2.500 99.792 3.380
201603 3.030 100.470 4.069
201606 2.850 101.688 3.782
201609 3.350 101.861 4.437
201612 2.090 101.863 2.768
201703 3.690 102.862 4.840
201706 3.160 103.349 4.126
201709 3.670 104.136 4.755
201712 5.820 104.011 7.550
201803 4.790 105.290 6.138
201806 4.500 106.317 5.711
201809 7.110 106.507 9.007
201812 2.090 105.998 2.660
201903 5.060 107.251 6.366
201906 5.060 108.070 6.317
201909 5.490 108.329 6.838
201912 -2.390 108.420 -2.974
202003 5.150 108.902 6.381
202006 6.010 108.767 7.455
202009 5.890 109.815 7.237
202012 1.970 109.897 2.419
202103 13.430 111.754 16.215
202106 6.420 114.631 7.557
202109 6.630 115.734 7.729
202112 16.990 117.630 19.488
202203 6.100 121.301 6.785
202206 6.060 125.017 6.540
202209 5.890 125.227 6.346
202212 13.410 125.222 14.449
202303 5.500 127.348 5.827
202306 5.340 128.729 5.597
202309 6.180 129.860 6.421
202312 -3.500 129.419 -3.649
202403 6.320 131.776 6.471
202406 6.360 132.554 6.474
202409 7.000 133.029 7.100
202412 8.650 133.157 8.765
202503 3.320 134.927 3.320

Add all the adjusted EPS together and divide 10 will get our e10.


Northrop Grumman  (NYSE:NOC) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Northrop Grumman's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=563.79/24.21
=23.29

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Northrop Grumman was 42.69. The lowest was 18.38. And the median was 25.95.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Northrop Grumman E10 Related Terms

Thank you for viewing the detailed overview of Northrop Grumman's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Northrop Grumman Business Description

Address
2980 Fairview Park Drive, Falls Church, VA, USA, 22042
Northrop Grumman is a diversified defense contractor providing aeronautics, defense, and space systems. The company's aerospace segment creates the fuselage for the massive F-35 program, produces autonomous and piloted aircraft such as Global Hawk drones and the new B-21 bomber, and maintains and upgrades numerous military aircraft. Defense systems makes artillery and missile ammunition and guidance systems, long-range missiles, and missile defense systems. Mission systems creates and integrates a variety of radar, navigation, and communication systems for avionics, weapons control, and countermeasures on a range of platforms from helicopters to destroyers. Space systems produces satellites, sensors, space structures, and rocket motors.
Executives
Welsh Mark A Iii director 6020 AUGUSTA CIRCLE, COLLEGE STATION TX 77845
Kathy J Warden officer: Corp VP & Pres Info Syst 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Michael A Hardesty officer: Corp VP, Controller & CAO 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Kathryn G Simpson officer: Corp VP & General Counsel 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Thomas H Jones officer: CVP & Pres Aeronautics Systems 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Roshan S Roeder officer: CVP & Pres. Defense Systems 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Mark A Caylor officer: Corp VP & Pres ESS 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Robert J. Fleming officer: CVP and Pres. Space Systems 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Kimberly A. Ross director C/O AVON PRODUCTS,INC., 1345 AVENUE OF THE AMERICAS`, NEW YORK NY 10105-0196
Mary A Winston director 557 BROADWAY, C/O SCHOLASTIC CORP, NEW YORK NY 10012
David T Perry officer: CVP Chief Global Bus Dev Off 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Lucy C Ryan officer: Corp VP, Communications 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Mary D Petryszyn officer: CVP, Pres, Defense Systems 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Sheila C. Cheston officer: Corp. VP & General Counsel C/O NORTHROP GRUMMAN CORPORATION, 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Stephen F. O'bryan officer: CVP Global Bus Dev Officer 2980 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042