Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 27, 2023.

Analysis of Inventory

Microsoft Excel

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Inventory Disclosure

Northrop Grumman Corp., balance sheet: inventory

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Contracts in process
Product inventory
Inventoried costs, net

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).


Contracts in Process
The value of contracts in process exhibited an overall upward trend during the period under review. Starting from $377 million at the end of 2018, it increased notably to $466 million in 2019. There was a slight decline to $430 million in 2020, likely indicative of project completion or contract delivery delays. However, the value recovered in the subsequent years, reaching $478 million in 2021 and further increasing to $574 million by the end of 2022, marking the highest level in this series.
Product Inventory
Product inventory showed a consistent increase over the analyzed periods. Beginning at $277 million in 2018, it rose steadily each year to $317 million in 2019, $329 million in 2020, $333 million in 2021, and $404 million in 2022. The rise in inventory, especially the significant increase between 2021 and 2022, could reflect enhanced production capacity or accumulation in anticipation of higher sales demands.
Inventoried Costs, Net
Inventoried costs, net, mirrored some of the trends observed in contracts and inventory. From $654 million at the close of 2018, the figure increased significantly to $783 million in 2019, slightly decreased to $759 million in 2020, and then resumed growth to $811 million in 2021. The most notable increase was from 2021 to 2022, when it surged to $978 million, the highest point in the dataset. This upward trend suggests increasing investment in production or procurement of materials consistent with growing contract values and inventory levels.