Start with its own history
At 19.64×, NOC is 0.4% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · NOCAerospace & DefenseUpdated Nov 2, 2026
Northrop Grumman Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
19.64×
0.4% belowthe 10-year annual average
Share price552.85
÷Earnings per share28.15
Price and EPS in quote currency. Calculation details
Investors are paying 19.64 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 19.72×
3-year average23.53×3 positive annual observations
5-year average19.34×5 positive annual observations
10-year average19.72×10 positive annual observations
Peer median · TTM24.09×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 19.57× | +18.4% |
| Dec 31, 2024 | 16.53× | -52.1% |
| Dec 31, 2023 | 34.50× | +99.9% |
| Dec 31, 2022 | 17.26× | +94.9% |
| Dec 31, 2021 | 8.86× | -44.5% |
| Dec 31, 2020 | 15.97× | -38.3% |
| Dec 31, 2019 | 25.90× | +96.6% |
| Dec 31, 2018 | 13.17× | -50.4% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 26.57× | +40.5% |
| Dec 31, 2016 | 18.91× | +5.3% |
| Dec 31, 2015 | 17.96× | +20.8% |
| Dec 31, 2014 | 14.87× | +10.3% |
| Dec 31, 2013 | 13.48× | +58.8% |
| Dec 31, 2012 | 8.49× | +11.1% |
| Dec 31, 2011 | 7.64× | -10.1% |
| Dec 31, 2010 | 8.51× | -11.4% |
| Dec 31, 2009 | 9.60× | N/M |
| Dec 31, 2008 | N/M | N/M |
| Dec 31, 2007 | 13.61× | -1.1% |
| Dec 31, 2006 | 13.77× | -0.7% |
| Dec 31, 2005 | 13.88× | -15.3% |
| Dec 31, 2004 | 16.38× | -20.3% |
| Dec 31, 2003 | 20.55× | -12.7% |
| Dec 31, 2002 | 23.53× | +23.0% |
| Dec 31, 2001 | 19.13× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How NOC compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 NOC This stockNorthrop Grumman Corporation | 19.64× |
 LMTLockheed Martin Corporation | 22.38× |
 RTXRTX Corporation | 32.20× |
 GDGeneral Dynamics Corporation | 21.71× |
 BAThe Boeing Company | 18.33× |
 LHXL3Harris Technologies, Inc. | 25.79× |
 HIIHuntington Ingalls Industries, Inc. | 16.79× |
 THLLYThales S.A. | 32.18× |
 BAESYBAE Systems plc | 29.59× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does NOC’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 24.09×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take NOC into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("NOC", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 552.85 ÷ EPS 28.15 = 19.64×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
NOC P/E ratio: common questions
The essentials behind the numbers.
Northrop Grumman Corporation's current P/E is 19.64× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.