Northrop GrummanNOC +0.14%86 EV-to-FCF is 25.79 as of Jun. 27, 2026, which is 22% below its 10-year median of 33.10. GuruFocus rates NOC with a GF Score™ of 86/100 and a GF Value™ of $557.76 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 180 Aerospace & Defense companies, Northrop Grumman ranks better than 60% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Northrop Grumman's Enterprise Value is $85,247 Mil.
Northrop Grumman's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $3,305 Mil. Therefore, Northrop Grumman's EV-to-FCF for today is 25.79.
The historical rank and industry rank for Northrop Grumman's EV-to-FCF or its related term are showing as below:
NOC'
s EV-to-FCF Range Over the Past 10 Years
Min: 15.73 Med: 33.1 Max: 207.84
Current: 25.79
During the past 13 years, the highest EV-to-FCF of Northrop Grumman was 207.84. The lowest was 15.73. And the median was 33.10.
NOC's EV-to-FCF is ranked better than 60% of 180
companies
in the Aerospace & Defense industry
Industry Median: 34.475
vs NOC: 25.79
EV-to-FCF 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-FCF 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 $500.03.
Northrop Grumman's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $31.920.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Northrop Grumman EV-to-FCF Related Terms
Northrop Grumman EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Northrop Grumman's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Northrop Grumman's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Northrop Grumman's EV-to-FCF falls into.
Northrop Grumman's current Enterprise Value is $85,247 Mil.
Northrop Grumman's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,305 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-FCF of 25.79 as of Jun. 27, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northrop Grumman and its competitors. This is 22% below median its historical median of 33.10. Over the past decade, Northrop Grumman's EV-to-FCF has ranged from 15.73 to 207.84. According to the industry distribution chart, Northrop Grumman ranks #72 out of 180 companies in the Aerospace & Defense industry, placing it in the top 40%.
Is Northrop Grumman's EV-to-FCF too high?
Northrop Grumman's current EV-to-FCF of 25.79 is 22% below median its 10-year median of 33.10. Over the past 10 years, this metric has ranged from a low of 15.73 to a high of 207.84. The Aerospace & Defense industry median EV-to-FCF is 34.48. Northrop Grumman's value of 25.79 is 25.2% below this industry median. Based on the distribution chart, Northrop Grumman ranks #72 out of 180 companies in the Aerospace & Defense industry, which is above the industry midpoint. Overall, Northrop Grumman has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Northrop Grumman's EV-to-FCF compare to RKLB and TDG?
According to the Aerospace & Defense industry distribution chart, Northrop Grumman ranks #72 out of 180 companies for EV-to-FCF. This puts Northrop Grumman in the upper half of its industry. The industry median EV-to-FCF is 34.48. Northrop Grumman's value of 25.79 is 25.2% below this benchmark. Historically, Northrop Grumman's own EV-to-FCF has ranged from 15.73 to 207.84 over the past decade. While the company's 10-year median is 33.10 vs. the industry median of 34.48, Northrop Grumman has consistently been below 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-FCF for an Aerospace & Defense company?
The median EV-to-FCF among Aerospace & Defense companies is 34.48, based on 180 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Northrop Grumman's current EV-to-FCF of 25.79 is 25.2% below 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northrop Grumman and its competitors. For the Aerospace & Defense industry, the median EV-to-FCF is 34.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northrop Grumman's current EV-to-FCF is 25.79, which is 22% below median its own 10-year median of 33.10. 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 Modestly Undervalued. The stock's GF Value™ is $557.76, compared to a current price of $500.03 — trading 10.4% below its estimated fair value. The current EV-to-FCF is 25.79, which is 22% below median its 10-year median of 33.10 and 25.2% below the Aerospace & Defense industry median of 34.48. 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Northrop Grumman (NOC), the current EV-to-FCF is 25.79 as of Jun. 27, 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 undervalued.
The current stock price of $500.03 is trading 10.4% below its estimated GF Value™ of $557.76.
GuruFocus considers Northrop Grumman to be Modestly Undervalued.
Key valuation signals for NOC:
EV-to-FCF: 25.79 (22% below median its 10-year median of 33.10)
GF Value™: $557.76 vs. price of $500.03 (10.4% below fair value)
Industry Position: 25.2% below the Aerospace & Defense median (#72 of 180)
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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