Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

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

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

Northrop Grumman Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Sales1 ÷ Total assets1
Dec 31, 2022 0.84 = 36,602 ÷ 43,755
Dec 31, 2021 0.84 = 35,667 ÷ 42,579
Dec 31, 2020 0.83 = 36,799 ÷ 44,469
Dec 31, 2019 0.82 = 33,841 ÷ 41,089
Dec 31, 2018 0.80 = 30,095 ÷ 37,653
Dec 31, 2017 0.74 = 25,803 ÷ 34,917
Dec 31, 2016 0.96 = 24,508 ÷ 25,614
Dec 31, 2015 0.96 = 23,526 ÷ 24,454
Dec 31, 2014 0.90 = 23,979 ÷ 26,572
Dec 31, 2013 0.93 = 24,661 ÷ 26,381
Dec 31, 2012 0.95 = 25,218 ÷ 26,543
Dec 31, 2011 1.04 = 26,412 ÷ 25,411
Dec 31, 2010 1.11 = 34,757 ÷ 31,421
Dec 31, 2009 1.12 = 33,755 ÷ 30,252
Dec 31, 2008 1.12 = 33,887 ÷ 30,197
Dec 31, 2007 0.96 = 32,018 ÷ 33,373
Dec 31, 2006 0.94 = 30,148 ÷ 32,009
Dec 31, 2005 0.90 = 30,721 ÷ 34,214

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$ in millions

Sales Trend
Sales exhibited moderate fluctuations over the period analyzed. Starting at approximately $30.7 billion in 2005, sales experienced a slight decline and variability through 2012, reaching a low around $24.7 billion in 2014. From 2015 onwards, sales demonstrated a recovery and growth trend, peaking near $36.8 billion in 2020. A minor decrease followed in 2021, but sales rebounded to about $36.6 billion by 2022, indicating a general upward trajectory in recent years.
Total Assets Trend
Total assets showed a downward trend from 2005 to 2011, decreasing from roughly $34.2 billion to $25.4 billion, reflecting a contraction in asset base during that period. Beginning in 2012, there was a reversal in this trend with assets increasing significantly to approximately $44.5 billion by 2020. A slight decrease and stabilization occurred thereafter, with total assets around $43.8 billion in 2022, underscoring a considerable expansion of the company's asset base in the latter years.
Total Asset Turnover Ratio
The total asset turnover ratio, which measures sales generated per dollar of assets, was near 0.9 in 2005. It increased steadily to peak values around 1.12 in 2008 and 2009, indicating improved efficiency in utilizing assets to generate sales during that period. Subsequently, the ratio declined gradually, descending to about 0.74 in 2017 before slightly recovering and stabilizing near 0.84 by 2022. This pattern suggests initial efficiency gains were followed by a period of reduced asset utilization efficiency, with modest improvement in recent years.
Overall Insights
The data imply a correlation between asset growth and sales performance, particularly from 2012 onward where an expanding asset base supported increasing sales. The decline in asset turnover ratio after 2009 may suggest the company acquired or held more assets relative to sales growth, reflecting changes in operational strategy or asset composition. Recent stabilization of asset turnover alongside higher asset and sales volumes suggests improved alignment between assets and revenue generation.

Comparison to Competitors

Northrop Grumman Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Northrop Grumman Corp. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2022 0.84 0.49 0.69 0.59 0.39 0.57 1.25 0.42
Dec 31, 2021 0.84 0.45 0.58 0.58 0.36 0.53 1.32 0.40
Dec 31, 2020 0.83 0.38 0.50 0.56 0.29 0.51 1.29 0.35
Dec 31, 2019 0.82 0.57 0.65 0.65 0.33 0.63 1.26 0.55
Dec 31, 2018 0.80 0.86 0.66 0.70 0.37 0.72 1.20 0.50
Dec 31, 2017 0.74 1.01 0.55 0.63 0.30 0.68 1.10 0.62
Dec 31, 2016 0.96 1.05 0.48 0.65 0.30 0.73 0.99 0.64
Dec 31, 2015 0.96 1.02 0.56 0.67 0.21 0.78 0.94 0.64
Dec 31, 2014 0.90 0.91 0.62 0.67 0.16 0.89 1.23 0.71
Dec 31, 2013 0.93 0.93 0.62 0.62 0.15 0.86 1.25 0.69
Dec 31, 2012 0.95 0.92 0.71 0.46 0.15 0.90 1.22 0.65
Dec 31, 2011 1.04 0.86 0.70 0.90 0.13 0.92 1.23 0.95
Dec 31, 2010 1.11 0.94 0.62 0.79 0.13 0.88 1.31 0.93
Dec 31, 2009 1.12 1.10 0.49 0.73 0.13 0.86 1.29 0.94
Dec 31, 2008 1.12 1.13 0.71 0.92 0.14 1.03 1.28 1.03
Dec 31, 2007 0.96 1.13 0.75 0.97 0.13 1.02 1.45 0.99
Dec 31, 2006 0.94 1.19 0.76 1.08 0.14 1.01 1.40 1.00
Dec 31, 2005 0.90 0.91 0.72 1.09 0.14 0.86 1.34 0.92

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., total asset turnover, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Northrop Grumman Corp. Capital Goods
Dec 31, 2022 0.84 0.54
Dec 31, 2021 0.84 0.50
Dec 31, 2020 0.83 0.43
Dec 31, 2019 0.82 0.54
Dec 31, 2018 0.80 0.58
Dec 31, 2017 0.74 0.54
Dec 31, 2016 0.96 0.54
Dec 31, 2015 0.96 0.46
Dec 31, 2014 0.90 0.41
Dec 31, 2013 0.93 0.39
Dec 31, 2012 0.95 0.38
Dec 31, 2011 1.04 0.36
Dec 31, 2010 1.11 0.34
Dec 31, 2009 1.12 0.33
Dec 31, 2008 1.12 0.35
Dec 31, 2007 0.96 0.34
Dec 31, 2006 0.94 0.36
Dec 31, 2005 0.90 0.33

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., total asset turnover, long-term trends, comparison to industry (industrials)

Microsoft Excel
Northrop Grumman Corp. Industrials
Dec 31, 2022 0.84 0.66
Dec 31, 2021 0.84 0.58
Dec 31, 2020 0.83 0.50
Dec 31, 2019 0.82 0.62
Dec 31, 2018 0.80 0.67
Dec 31, 2017 0.74 0.62
Dec 31, 2016 0.96 0.61
Dec 31, 2015 0.96 0.54
Dec 31, 2014 0.90 0.49
Dec 31, 2013 0.93 0.47
Dec 31, 2012 0.95 0.46
Dec 31, 2011 1.04 0.45
Dec 31, 2010 1.11 0.41
Dec 31, 2009 1.12 0.39
Dec 31, 2008 1.12 0.43
Dec 31, 2007 0.96 0.41
Dec 31, 2006 0.94 0.43
Dec 31, 2005 0.90 0.40

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).