Northrop Grumman Financials

$25.8 B

Revenue FY, 2017

$62.5 B

Mkt cap, 16-Feb-2018
Net income (FY, 2017)2 B
EBIT (FY, 2017)3.3 B
Cash, 31-Dec-201711.2 B

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

24.7 b24 b23.5 b24.5 b25.8 b

Revenue growth, %

(3%)(2%)4%

Cost of goods sold

19.3 b18.4 b17.9 b18.7 b

Gross profit

5.4 b5.6 b5.6 b5.8 b

Gross profit Margin, %

22%23%24%24%

General and administrative expense

2.3 b2.4 b2.6 b2.6 b2.7 b

Operating expense total

2.3 b2.4 b2.6 b2.6 b2.7 b

EBIT

3.1 b3.2 b3.1 b3.2 b3.3 b

EBIT margin, %

13%13%13%13%13%

Interest expense

257 m282 m301 m301 m360 m

Pre tax profit

2.9 b2.9 b2.8 b2.9 b3 b

Income tax expense

911 m868 m800 m723 m

Net Income

2 b2.1 b2 b2.2 b2 b

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2018

Revenue

6 b5.9 b6 b6 b6 b6.2 b6.3 b6.4 b6.5 b

Revenue growth, %

(73%)

Cost of goods sold

4.5 b4.4 b4.5 b4.6 b4.6 b4.7 b4.8 b4.9 b5 b

Gross profit

1.4 b1.5 b1.5 b1.4 b1.4 b1.5 b1.5 b1.5 b1.5 b

Gross profit Margin, %

24%25%24%23%24%24%24%24%23%

General and administrative expense

635 m641 m663 m656 m620 m662 m677 m666 m666 m

Operating expense total

635 m641 m663 m656 m620 m662 m677 m666 m666 m

EBIT

780 m813 m794 m739 m797 m826 m832 m855 m845 m

EBIT margin, %

13%14%13%12%13%13%13%13%13%

Interest expense

76 m75 m75 m76 m74 m74 m75 m76 m73 m

Pre tax profit

704 m736 m729 m676 m730 m769 m773 m807 m785 m

Income tax expense

220 m205 m213 m120 m213 m167 m133 m255 m140 m

Net Income

484 m531 m516 m556 m517 m602 m640 m552 m645 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

5.2 b3.9 b2.3 b2.5 b11.2 b

Accounts Receivable

2.7 b2.8 b2.8 b3.3 b4 b

Prepaid Expenses

350 m369 m367 m200 m

Inventories

698 m742 m807 m816 m

Current Assets

9.5 b8.2 b6.3 b6.9 b16.3 b

PP&E

2.8 b3 b3.1 b3.6 b

Goodwill

12.4 b12.5 b12.5 b12.5 b12.5 b

Total Assets

26.4 b26.6 b24.5 b25.6 b34.9 b

Accounts Payable

1.2 b1.3 b1.3 b1.6 b1.7 b

Current Liabilities

5.8 b5.9 b5.5 b5.6 b7 b

Long-term debt

5.9 b5.9 b6.4 b7.1 b

Total Debt

5.9 b5.9 b6.4 b7.1 b

Total Liabilities

15.8 b19.3 b18.9 b20.4 b27.9 b

Common Stock

218 m199 m181 m175 m

Additional Paid-in Capital

848 m

Retained Earnings

12.5 b12.4 b10.7 b10.6 b11.5 b

Total Equity

10.6 b7.2 b5.5 b5.3 b7 b

Debt to Equity Ratio

0.6 x0.8 x1.2 x1.3 x

Debt to Assets Ratio

0.2 x0.2 x0.3 x0.3 x

Financial Leverage

2.5 x3.7 x4.4 x4.9 x5 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2018

Cash

2.6 b1.9 b1.3 b1.3 b1.1 b1.1 b1.4 b1.4 b1.9 b

Accounts Receivable

3.1 b3.2 b3.3 b3.3 b3.5 b3.7 b4.1 b4.3 b4.4 b

Prepaid Expenses

177 m160 m199 m185 m186 m212 m160 m162 m300 m

Inventories

818 m856 m856 m898 m973 m797 m933 m1 b1 b

Current Assets

7.1 b6.5 b6 b5.7 b5.8 b5.8 b6.6 b6.9 b7.6 b

PP&E

3 b3 b3 b3.2 b3.3 b3.3 b3.7 b3.8 b3.9 b

Goodwill

12.5 b12.5 b12.5 b12.5 b12.5 b12.5 b12.5 b12.5 b12.5 b

Total Assets

25.3 b24.6 b24 b23.9 b24.1 b24.1 b25.4 b25.8 b26.5 b

Accounts Payable

1.2 b1.2 b1.2 b1.2 b1.3 b1.3 b1.4 b1.4 b1.5 b

Current Liabilities

5.3 b5.2 b5.1 b5 b5.1 b5.1 b5.2 b6.2 b6.3 b

Long-term debt

6.4 b6.4 b6.4 b6.4 b6.4 b6.4 b7.1 b6.2 b6.2 b

Total Debt

6.4 b6.4 b6.4 b6.4 b6.4 b6.4 b7.1 b6.2 b6.2 b

Total Liabilities

18.5 b18.4 b18.3 b18.3 b18.4 b18.3 b19.9 b19.9 b20 b

Common Stock

195 m188 m183 m181 m179 m177 m175 m174 m174 m

Additional Paid-in Capital

16 m

Retained Earnings

11.8 b11.2 b10.6 b10.7 b10.6 b10.6 b10.8 b11.1 b11.5 b

Total Equity

6.7 b6.2 b5.7 b5.6 b5.7 b5.8 b5.6 b5.9 b6.5 b

Debt to Equity Ratio

1 x1 x1.1 x1.1 x1.1 x1.1 x1.3 x1.1 x1 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.2 x0.2 x

Financial Leverage

3.7 x4 x4.2 x4.3 x4.2 x4.2 x4.6 x4.4 x4.1 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

2 b2.1 b2 b2.2 b2 b

Depreciation and Amortization

495 m462 m467 m456 m475 m

Accounts Receivable

171 m(105 m)(30 m)(461 m)(677 m)

Inventories

101 m(24 m)(80 m)(15 m)

Accounts Payable

(169 m)(89 m)(632 m)198 m539 m

Cash From Operating Activities

2.5 b2.6 b2.2 b2.8 b2.6 b

Cash From Investing Activities

(346 m)(645 m)(431 m)(805 m)(889 m)

Long-term Borrowings

(321 m)

Dividends Paid

(545 m)(563 m)(603 m)(640 m)(689 m)

Cash From Financing Activities

(849 m)(3.2 b)(3.3 b)(1.8 b)7 b

Net Change in Cash

1.3 b(1.3 b)(1.5 b)222 m

Free Cash Flow

2.1 b2 b1.7 b1.9 b1.7 b

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2018

Net Income

484 m1 b1.5 b556 m1.1 b1.7 b640 m1.2 b1.8 b

Depreciation and Amortization

99 m216 m329 m103 m209 m322 m104 m211 m322 m

Accounts Receivable

(325 m)(344 m)(463 m)(514 m)(647 m)(830 m)(773 m)(981 m)(1.1 b)

Inventories

(76 m)(117 m)(130 m)(89 m)(170 m)14 m(117 m)(223 m)(191 m)

Accounts Payable

(889 m)(870 m)(958 m)(364 m)(287 m)(292 m)(466 m)(310 m)(41 m)

Cash From Operating Activities

(654 m)(28 m)529 m(60 m)544 m1.3 b(439 m)68 m1 b

Cash From Investing Activities

(115 m)(234 m)(298 m)(298 m)(469 m)(605 m)(214 m)(426 m)(629 m)

Long-term Borrowings

(107 m)(107 m)(107 m)

Dividends Paid

(156 m)(309 m)(458 m)(159 m)(322 m)(482 m)(166 m)(341 m)(515 m)

Cash From Financing Activities

(448 m)(1.7 b)(2.8 b)(684 m)(1.3 b)(1.9 b)(485 m)(800 m)(1 b)

Net Change in Cash

(1.2 b)(2 b)(2.6 b)(1 b)(1.2 b)(1.2 b)(1.1 b)(1.2 b)(663 m)

Free Cash Flow

(771 m)(260 m)195 m(358 m)73 m674 m(655 m)(365 m)356 m

Ratios

USDY, 2017

Revenue/Employee

380.9 k

Financial Leverage

5 x
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Operating Metrics

Northrop Grumman's Backlog was reported to be $42.9b in FY, 2017.
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