Analysis of Inventory
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- Income Statement
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
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- Return on Equity (ROE) since 2005
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Inventory Disclosure
Northrop Grumman Corp., balance sheet: inventory
US$ in millions
| 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.