Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Electronics, not aircraft, earn the most profit
Mission Systems brings 28.4% of sales but the largest profit, on a margin well above the aircraft business.
For investorsWhat has to go right for the backlog to become profit?
For foundersPricing risk by phase: the cost-plus to fixed-price path
Each dollar of quarterly sales was replaced by about 1.5 dollars of new awards, lifting backlog to $109.6B.
Pre-tax earnings fell 1.9% from a year earlier, yet net earnings rose 2.2% as the tax bill shrank.
Free cash flow reached $1.44B, 12.9% of sales, after the first quarter consumed cash, as it did a year earlier.
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Business Lens describes Northrop Grumman from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
