Northrop Grumman price to free cash flow NOC

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026: 21.5×
10-year median: 28.9×
Against its 10-year history: 22nd; percentile: 0 is its lowest day, 100 its highest
10-year range: 12.4× to 187×
Peer median: 36.0×

Northrop Grumman's price to free cash flow is 21.5× as of Oct 23, 2026.

That is below its ten-year median of 28.9×, lower than on 78% of days in the last ten years.

Over that time it ranged from 12.4× in Jan 2021 to 187× in Oct 2022.

The median for 10 aerospace and defense stocks of a similar size is 36.0×.

Price to free cash flow over time

median 28.9×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	21.5×	18.6×	52.4×
2025	44.9×	24.2×	68.3×
2024	27.6×	26.8×	34.7×
2023	33.7×	28.3×	144×
2022	151×	25.8×	187×
2021	25.0×	12.4×	25.0×
2020	13.1×	12.5×	20.7×
2019	23.9×	21.6×	24.6×
2018	21.1×	20.5×	37.1×
2017	33.9×	18.7×	35.5×
2016	18.9×	17.7×	24.1×
2015	24.4×	15.4×	24.6×
2014	16.7×	11.8×	16.7×
2013	12.6×	6.3×	12.6×
2012	6.4×	6.1×	10.8×
2011	10.3×	8.7×	13.3×
2010	12.4×	11.8×	17.2×

Against its peers

Companies in Aerospace & Defense nearest Northrop Grumman's size, closest first, today.

Company	Price to free cash flow
NOCNorthrop Grumman	21.5×
HWMHowmet Aerospace	41.4×
GDGeneral Dynamics	14.7×
TDGTransDigm	31.7×
HONAHoneywell Aerospace	n/m
LHXL3Harris Technologies	16.8×
LMTLockheed Martin	n/m
HEIHEICO	40.3×
BABoeing	n/m
AXONAxon Enterprise	256×
RTXRTX	n/m
Peer median	36.0×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Northrop Grumman

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.