Price to Sales (P/S)
since 2005
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Northrop Grumman Corp. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
Northrop Grumman Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 26, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 27, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2021 | = | ÷ | = | ÷ | |||||||
| Jan 30, 2020 | = | ÷ | = | ÷ | |||||||
| Jan 31, 2019 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2018 | = | ÷ | = | ÷ | |||||||
| Jan 30, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 1, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 2, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Northrop Grumman Corp. Annual Report.
The analysis of the financial data reveals distinct trends in share price, sales per share, and price-to-sales ratio (P/S) over the observed periods.
- Share Price
- The share price experienced significant fluctuations between 2006 and 2023. Initially, it rose modestly from $65.71 in early 2006 to a peak of $81 in early 2008, before dropping sharply to $44.54 in early 2009. Following this decline, there was a general upward trend, with some volatility, reaching a substantial high of $443.47 by early 2023. Notable peaks occurred in early 2015 ($159.19), early 2018 ($338.34), and early 2020 ($384.87), indicating periods of strong market confidence and growth potential.
- Sales Per Share
- Sales per share steadily increased throughout the period, growing from $87.60 in early 2006 to $239.15 by early 2023. This progression reflects consistent underlying revenue growth relative to the number of shares outstanding. Although the rate of increase exhibited minor variations, the overall trend was positive and fairly smooth, suggesting effective sales expansion and operational stability.
- Price-to-Sales Ratio (P/S)
- The P/S ratio demonstrated considerable variability, initially ranging between 0.75 and 0.87 until 2007. It then declined sharply to a low of 0.43 in early 2009, coinciding with the significant share price drop noted previously, likely reflecting investor risk aversion during that period. Subsequently, the ratio climbed steadily, reaching a peak of 2.28 in early 2018. Following some correction, it maintained elevated levels above 1.3, settling at 1.85 by early 2023. Elevated P/S ratios in recent years indicate increased market valuation relative to sales, possibly reflecting heightened investor expectations regarding growth or profitability.
Overall, the data suggests that while sales grew consistently, share price experienced more volatility, heavily influenced by broader market conditions and investor sentiment. The upward trajectory in the P/S ratio in recent years points to growing market optimism or potentially higher premium placed on sales achievements relative to earlier periods. The resilience and eventual strong growth in share price following the 2008-2009 downturn also highlight recovery and expansion phases within the company's operational lifecycle.
Comparison to Competitors
Northrop Grumman Corp., P/S, long-term trends, comparison to competitors
| Northrop Grumman Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Jan 26, 2023 | ||||||||
| Jan 27, 2022 | ||||||||
| Jan 28, 2021 | ||||||||
| Jan 30, 2020 | ||||||||
| Jan 31, 2019 | ||||||||
| Jan 29, 2018 | ||||||||
| Jan 30, 2017 | ||||||||
| Feb 1, 2016 | ||||||||
| Feb 2, 2015 | ||||||||
| Feb 3, 2014 | ||||||||
| Feb 5, 2013 | ||||||||
| Feb 8, 2012 | ||||||||
| Feb 9, 2011 | ||||||||
| Feb 9, 2010 | ||||||||
| Feb 10, 2009 | ||||||||
| Feb 20, 2008 | ||||||||
| Feb 21, 2007 | ||||||||
| Feb 17, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Northrop Grumman Corp., P/S, long-term trends, comparison to sector (capital goods)
| Northrop Grumman Corp. | Capital Goods | |
|---|---|---|
| Jan 26, 2023 | ||
| Jan 27, 2022 | ||
| Jan 28, 2021 | ||
| Jan 30, 2020 | ||
| Jan 31, 2019 | ||
| Jan 29, 2018 | ||
| Jan 30, 2017 | ||
| Feb 1, 2016 | ||
| Feb 2, 2015 | ||
| Feb 3, 2014 | ||
| Feb 5, 2013 | ||
| Feb 8, 2012 | ||
| Feb 9, 2011 | ||
| Feb 9, 2010 | ||
| Feb 10, 2009 | ||
| Feb 20, 2008 | ||
| Feb 21, 2007 | ||
| Feb 17, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Northrop Grumman Corp., P/S, long-term trends, comparison to industry (industrials)
| Northrop Grumman Corp. | Industrials | |
|---|---|---|
| Jan 26, 2023 | ||
| Jan 27, 2022 | ||
| Jan 28, 2021 | ||
| Jan 30, 2020 | ||
| Jan 31, 2019 | ||
| Jan 29, 2018 | ||
| Jan 30, 2017 | ||
| Feb 1, 2016 | ||
| Feb 2, 2015 | ||
| Feb 3, 2014 | ||
| Feb 5, 2013 | ||
| Feb 8, 2012 | ||
| Feb 9, 2011 | ||
| Feb 9, 2010 | ||
| Feb 10, 2009 | ||
| Feb 20, 2008 | ||
| Feb 21, 2007 | ||
| Feb 17, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).