Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

Common-Size Income Statement
Quarterly Data

Beginner level

Northrop Grumman Corp., common-size consolidated income statement (quarterly data)

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3 months ended: Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Product 72.96 71.65 71.63 70.76 69.54 69.95 70.82 69.44 67.28 63.68 62.60 63.35 61.43 61.18 62.20 60.45 59.33 58.39 59.94 60.46 59.51 57.56
Service 27.04 28.35 28.37 29.24 30.46 30.05 29.18 30.56 32.72 36.32 37.40 36.65 38.57 38.82 37.80 39.55 40.67 41.61 40.06 39.54 40.49 42.44
Sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Product -57.71 -57.45 -54.12 -56.37 -55.12 -55.16 -56.22 -52.36 -51.95 -48.54 -49.58 -48.31 -46.40 -45.81 -47.05 -44.84 -43.68 -43.84 -45.49 -44.04 -43.55 -42.67
Service -21.74 -22.58 -21.73 -23.26 -24.42 -24.13 -23.10 -23.04 -26.20 -28.31 -29.12 -28.54 -29.74 -30.11 -29.86 -30.98 -32.70 -32.74 -31.40 -31.59 -31.78 -33.57
Cost of sales -79.45% -80.02% -75.85% -79.62% -79.54% -79.29% -79.32% -75.40% -78.14% -76.85% -78.70% -76.85% -76.14% -75.92% -76.91% -75.82% -76.38% -76.58% -76.89% -75.63% -75.34% -76.25%
Gross profit 20.55% 19.98% 24.15% 20.38% 20.46% 20.71% 20.68% 24.60% 21.86% 23.15% 21.30% 23.15% 23.86% 24.08% 23.09% 24.18% 23.62% 23.42% 23.11% 24.37% 24.66% 23.75%
General and administrative expenses -9.37 -9.14 -11.12 -9.16 -9.27 -9.28 -9.12 -10.11 -10.38 -10.56 -9.74 -10.20 -10.45 -10.80 -10.10 -10.76 -10.33 -11.01 -11.01 -11.09 -10.87 -10.66
Operating income 11.19% 10.84% 13.03% 11.22% 11.19% 11.43% 11.56% 14.50% 11.48% 12.59% 11.56% 12.95% 13.41% 13.28% 12.99% 13.42% 13.28% 12.41% 12.10% 13.28% 13.79% 13.09%
Interest expense -1.73 -1.45 -1.49 -1.45 -1.62 -1.69 -1.74 -1.65 -2.02 -2.12 -2.05 -1.12 -1.19 -1.20 -1.20 -1.20 -1.23 -1.28 -1.32 -1.25 -1.27 -1.28
FAS (non-service) pension benefit 3.41 3.50 2.29 2.36 2.37 2.44 3.27 3.34 3.62 3.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mark-to-market pension and OPB (expense) benefit 0.00 0.00 -20.64 0.00 0.00 0.00 -8.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other, net 0.68 -0.67 0.29 0.32 0.22 0.44 -0.12 0.68 0.63 0.59 0.80 0.20 0.44 0.26 -0.09 0.28 0.12 0.22 0.12 0.17 -0.03 0.00
Other income (expense) 2.35% 1.38% -19.55% 1.23% 0.97% 1.20% -6.62% 2.37% 2.23% 2.24% -1.25% -0.92% -0.75% -0.94% -1.30% -0.93% -1.12% -1.06% -1.19% -1.09% -1.31% -1.28%
Earnings before income taxes 13.54% 12.22% -6.52% 12.45% 12.16% 12.63% 4.94% 16.87% 13.71% 14.83% 10.31% 12.03% 12.66% 12.33% 11.69% 12.49% 12.17% 11.35% 10.91% 12.19% 12.48% 11.82%
Federal and foreign income tax expense -2.23 -2.15 1.83 -1.44 -1.97 -2.09 -0.58 -1.48 -2.63 -2.36 -7.63 -2.14 -4.00 -2.12 -3.49 -2.71 -3.55 -2.01 -2.85 -3.56 -3.48 -3.69
Net earnings 11.31% 10.07% -4.69% 11.01% 10.18% 10.54% 4.36% 15.39% 11.08% 12.47% 2.68% 9.88% 8.66% 10.21% 8.21% 9.78% 8.62% 9.34% 8.06% 8.63% 9.01% 8.12%

Based on: 10-Q (filing date: 2020-07-30), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-01-30), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-29), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-01-30), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-01), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-29).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Northrop Grumman Corp.’s operating income as a percentage of sales decreased from Q4 2019 to Q1 2020 but then slightly increased from Q1 2020 to Q2 2020.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Northrop Grumman Corp.’s earnings before income taxes as a percentage of sales increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Northrop Grumman Corp.’s net earnings as a percentage of sales increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.