Northrop Grumman (MEX:NOC) Operating Income: MXN85,985 Mil (TTM As of Mar. 2026)

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MEX:NOC Northrop Grumman Corp MEX:NOC
87 GF Score
Price MXN9,415.00
GF Value MXN10,104.38
! 2 Warning Signs
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What is Northrop Grumman Operating Income?

Northrop Grumman MEX:NOC 87 Operating Income is MXN85,985 Mil as of Mar. 2026. GuruFocus rates MEX:NOC with a GF Score™ of 87/100 and a GF Value™ of MXN10,104.38. The stock has 2 warning signs investors should review.

Northrop Grumman's Operating Income for the three months ended in Mar. 2026 was MXN17,834 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN85,985 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Northrop Grumman's Operating Income for the three months ended in Mar. 2026 was MXN17,834 Mil. Northrop Grumman's Revenue for the three months ended in Mar. 2026 was MXN178,181 Mil. Therefore, Northrop Grumman's Operating Margin % for the quarter that ended in Mar. 2026 was 10.01%.

Warning Sign:

Northrop Grumman Corp operating margin has been in a 5-year decline. The average rate of decline per year is -2%.

Northrop Grumman's 5-Year average Growth Rate for Operating Margin % was -2.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Northrop Grumman's annualized ROC % for the quarter that ended in Mar. 2026 was 7.30%. Northrop Grumman's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 38.17%.


Northrop Grumman  (MEX:NOC) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Northrop Grumman's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=71337.36 * ( 1 - 15.05% )/( (841442.373 + 818269.829)/ 2 )
=60601.08732/829856.101
=7.30 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=925078.849 - 58338.468 - ( 79279.097 - max(0, 249955.128 - 275253.136+79279.097))
=841442.373

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=901761.23 - 48345.669 - ( 37688.343 - max(0, 231197.247 - 266342.979+37688.343))
=818269.829

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Northrop Grumman's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=85979.912/( ( (231031.137 + max(-171810.389, 0)) + (219421.894 + max(-138797.693, 0)) )/ 2 )
=85979.912/( ( 231031.137 + 219421.894 )/ 2 )
=85979.912/225226.5155
=38.17 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(24757.838 + 23569.461 + 29817.44) - (58338.468 + 73571.29 + 118045.37)
=-171810.389

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(32567.056 + 26147.415 + 33685.083) - (48345.669 + 66666.892 + 116184.686)
=-138797.693

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Northrop Grumman's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=17834.34/178181.109
=10.01 %

* 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.

4. 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 Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Northrop Grumman Operating Income Related Terms


Northrop Grumman Operating Income Historical Data

* Premium members only.

The historical data trend for Northrop Grumman's Operating Income 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.

Northrop Grumman Operating Income Chart

Northrop Grumman Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 75,306.89 70,205.10 43,063.67 91,139.41 77,064.40

Northrop Grumman Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income 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 11,722.55 22,482.07 22,783.50 22,885.25 17,834.34
MEX:NOC
87GF Score
Northrop Grumman Corp MEX:NOC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Northrop Grumman Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income 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 MXN85,985 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of MXN85,985 Mil mean?
Northrop Grumman (MEX:NOC) has a Operating Income of MXN85,985 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Northrop Grumman and its competitors.
Is Northrop Grumman's Operating Income too high?
Northrop Grumman's current Operating Income is MXN85,985 Mil. Overall, Northrop Grumman has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does Northrop Grumman's Operating Income compare to HONAV and TDG?
Northrop Grumman's Operating Income of MXN85,985 Mil can be compared against companies in the Aerospace & Defense industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Aerospace & Defense company?
A good Operating Income depends on the Aerospace & Defense industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Northrop Grumman and its competitors. Northrop Grumman's current Operating Income is MXN85,985 Mil. 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?
Northrop Grumman (MEX:NOC) has a current Operating Income of MXN85,985 Mil. The stock's GF Value™ is MXN10,104.38, compared to a current price of MXN9,415.00 — trading 6.8% below its estimated fair value. The current Operating Income is MXN85,985 Mil. Northrop Grumman's overall GF Score™ is 87/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Northrop Grumman (MEX:NOC), the current Operating Income is MXN85,985 Mil as of Mar. 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 (MEX:NOC) Overvalued in 2026?

Based on GuruFocus' analysis, Northrop Grumman stock appears to be undervalued. The current stock price of MXN9,415.00 is trading 6.8% below its estimated GF Value™ of MXN10,104.38.

Key valuation signals for MEX:NOC:

  • Operating Income: MXN85,985 Mil
  • GF Value™: MXN10,104.38 vs. price of MXN9,415.00 (6.8% below fair value)
  • GF Score™: 87/100 with 2 warning signs

No single metric tells the full story. See the MEX:NOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


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 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.
87GF Score

Get the complete analysis for MEX:NOC

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN9,415.00
Price
MXN10,104.38
GF Value