Analysis of Revenues
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Revenues as Reported
Northrop Grumman Corp., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. government | |||||||||||
| International | |||||||||||
| Other customers | |||||||||||
| Sales |
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).
- U.S. Government Revenue
- The revenue generated from the U.S. government displayed a consistent upward trend from 2018 to 2020, increasing from $24,796 million to $30,903 million. In 2021, there was a slight decrease to $30,334 million, followed by a rebound to $31,323 million in 2022, marking the highest value in the observed period.
- International Revenue
- International revenue increased steadily from 2018 to 2020, rising from $4,434 million to $5,188 million. However, this was followed by a gradual decline in 2021 and 2022, with values of $4,982 million and $4,848 million respectively, suggesting a weakening in international sales during the latter years.
- Other Customers Revenue
- Sales to other customers have shown a marked decreasing trend overall. Starting at $865 million in 2018, revenue dropped to $753 million in 2019, further to $708 million in 2020, and experienced a significant decline to $351 million in 2021. A slight recovery is observed in 2022 with an increase to $431 million, although it remains well below earlier figures.
- Total Sales
- Total sales followed an upward trajectory from 2018 through 2020, increasing from $30,095 million to $36,799 million. There was a modest decline in 2021 to $35,667 million, followed by a rebound to $36,602 million in 2022, indicating slight volatility but overall growth over the five-year span.
- Overall Insights
- The revenue composition indicates a heavy reliance on U.S. government contracts, which have generally grown over the period despite a minor dip in 2021. International revenues peaked in 2020 and then showed a downward trend. Revenues from other customers decreased significantly, reflecting a reduced contribution to overall sales. The total sales trend mirrors the dominant influence of government revenue, demonstrating steady growth with minor fluctuations in the most recent years.