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Northrop GrummanNOC +0.28%86 EV-to-OCF is 18.90 as of Aug. 13, 2026, which is 8% below its 10-year median of 20.53. GuruFocus rates NOC with a GF Score™ of 86/100 and a GF Value™ of $562.01 (Fairly Valued). The stock has 2 warning signs investors should review. Among 358 Aerospace & Defense companies, Northrop Grumman ranks worse than 56.42% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Northrop Grumman's Enterprise Value is $95,998 Mil.
Northrop Grumman's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $5,078 Mil. Therefore, Northrop Grumman's EV-to-OCF for today is 18.90.
The historical rank and industry rank for Northrop Grumman's EV-to-OCF or its related term are showing as below:
NOC'
s EV-to-OCF Range Over the Past 10 Years
Min: 11.78 Med: 20.53 Max: 46.87
Current: 18.9
During the past 13 years, the highest EV-to-OCF of Northrop Grumman was 46.87. The lowest was 11.78. And the median was 20.53.
NOC's EV-to-OCF is ranked worse than 56.42% of 358
companies
in the Aerospace & Defense industry
Industry Median: 14.44
vs NOC: 18.90
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Northrop Grumman's PE Ratio (TTM) for today is calculated as:
Northrop Grumman's share price for today is $577.32.
Northrop Grumman's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $31.450.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Northrop Grumman EV-to-OCF Related Terms
Northrop Grumman EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Northrop Grumman's EV-to-OCF 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.
For the Aerospace & Defense subindustry, Northrop Grumman's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Northrop Grumman's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Northrop Grumman's EV-to-OCF falls into.
Northrop Grumman's current Enterprise Value is $95,998 Mil.
Northrop Grumman's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $5,078 Mil.
* 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.
Northrop Grumman (NOC) has a EV-to-OCF of 18.90 as of Aug. 13, 2026. This is near median its historical median of 20.53. Over the past decade, Northrop Grumman's EV-to-OCF has ranged from 11.78 to 46.87. According to the industry distribution chart, Northrop Grumman ranks #202 out of 358 companies in the Aerospace & Defense industry, placing it in the top 56.4%.
Is Northrop Grumman's EV-to-OCF too high?
Northrop Grumman's current EV-to-OCF of 18.90 is near median its 10-year median of 20.53. Over the past 10 years, this metric has ranged from a low of 11.78 to a high of 46.87. The Aerospace & Defense industry median EV-to-OCF is 14.44. Northrop Grumman's value of 18.90 is 30.9% above this industry median. Based on the distribution chart, Northrop Grumman ranks #202 out of 358 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Northrop Grumman has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Northrop Grumman's EV-to-OCF compare to TDG and HONA?
According to the Aerospace & Defense industry distribution chart, Northrop Grumman ranks #202 out of 358 companies for EV-to-OCF. This places Northrop Grumman in the lower half of its industry. The industry median EV-to-OCF is 14.44. Northrop Grumman's value of 18.90 is 30.9% above this benchmark. Historically, Northrop Grumman's own EV-to-OCF has ranged from 11.78 to 46.87 over the past decade. While the company's 10-year median is 20.53 vs. the industry median of 14.44, Northrop Grumman has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Aerospace & Defense company?
The median EV-to-OCF among Aerospace & Defense companies is 14.44, based on 358 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Northrop Grumman's current EV-to-OCF of 18.90 is 30.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Aerospace & Defense industry, the median EV-to-OCF is 14.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northrop Grumman's current EV-to-OCF is 18.90, which is near median its own 10-year median of 20.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northrop Grumman stock overvalued right now?
Based on GuruFocus' analysis, Northrop Grumman (NOC) is currently considered Fairly Valued. The stock's GF Value™ is $562.01, compared to a current price of $577.32 — trading 2.7% above its estimated fair value. The current EV-to-OCF is 18.90, which is near median its 10-year median of 20.53 and 30.9% above the Aerospace & Defense industry median of 14.44. Northrop Grumman's overall GF Score™ is 86/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Northrop Grumman (NOC), the current EV-to-OCF is 18.90 as of Aug. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Northrop Grumman (NOC) Overvalued in 2026?
Based on GuruFocus' analysis, Northrop Grumman stock appears to be overvalued.
The current stock price of $577.32 is trading 2.7% above its estimated GF Value™ of $562.01.
GuruFocus considers Northrop Grumman to be Fairly Valued.
Key valuation signals for NOC:
EV-to-OCF: 18.90 (near median its 10-year median of 20.53)
GF Value™: $562.01 vs. price of $577.32 (2.7% above fair value)
Industry Position: 30.9% above the Aerospace & Defense median (#202 of 358)
No single metric tells the full story. See the NOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northrop Grumman is a diversified defense contractor providing aeronautics, defense, and space systems. The company's aerospace segment produces autonomous and piloted aircraft such as Global Hawk drones and the new B-21 bomber, creates the fuselage for the massive F-35 program, and maintains and upgrades numerous other 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.
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