Buyback yield (TTM)
1.25%
Shareholder yield (TTM)
2.62%
5Y share count change
-14.2%
Buyback spend (TTM)
$1.21B
Cumulative buybacks
$35.29B
Key takeaways
- Northrop Grumman (NOC) repurchased about $1.21B of stock over the trailing twelve months.
- Diluted share count is down 14.2% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 10.18× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +27.1% per year over the latest 5-year window.
- TTM repurchases used about 61% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Northrop Grumman (NOC)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Northrop Grumman (NOC)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Northrop Grumman (NOC)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Northrop Grumman (NOC)
Latest: $1.62B
Overview
Northrop Grumman (NOC) most recent annual buyback spend stands at $1.62B (2025) – plunged 35.4% year-over-year.
Over 2020–2025 (5 years), Northrop Grumman buyback spend expanded at a +27.1% compound annual rate, with mixed annual results across the window.
Northrop Grumman buyback spend plunged from $3.71B in 2021 to $1.62B in 2025, a 56.2% drawdown.
2021 marks the peak buyback spend at $3.71B, with the historical low of $0.00 recorded in 1989.
Northrop Grumman Buyback Spend 2025: $1.62B
Northrop Grumman posted buyback spend of $1.62B in 2025, plunged 35.4% below 2024.
Northrop Grumman Buyback Spend 2024: $2.51B
In 2024, Northrop Grumman reported buyback spend of $2.51B, surged 67.6% from 2023.
Northrop Grumman Buyback Spend 2023: $1.50B
Northrop Grumman buyback spend in 2023 was $1.50B, edged down 0.3% below 2022.
Northrop Grumman Buyback Spend 2022: $1.50B
2022's buyback spend for Northrop Grumman came in at $1.50B, plunged 59.4% below 2021.
Northrop Grumman Buyback Spend 2021: $3.71B
Northrop Grumman buyback spend in 2021 was $3.71B.
See more financial history for Northrop Grumman (NOC).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $1.62B | $119.00M | $1.50B | 1.99% | 0.14B | -2.4% | |
| 2024 | $2.51B | $101.00M | $2.41B | 3.64% | 0.15B | -3.1% | |
| 2023 | $1.50B | $87.00M | $1.41B | 2.12% | 0.15B | -2.3% | |
| 2022 | $1.50B | $99.00M | $1.41B | 1.80% | 0.16B | -3.3% | |
| 2021 | $3.71B | $94.00M | $3.61B | 5.99% | 0.16B | -4.0% | |
| 2020 | $490.00M | $90.00M | $400.00M | 0.96% | 0.17B | -1.4% | |
| 2019 | $809.00M | $127.00M | $682.00M | 1.40% | 0.17B | -2.6% | |
| 2018 | $1.26B | $86.00M | $1.18B | 3.03% | 0.17B | -0.6% | |
| 2017 | $393.00M | $94.00M | $299.00M | 0.74% | 0.18B | -2.7% | |
| 2016 | $1.55B | $93.00M | $1.45B | 3.81% | 0.18B | -5.8% | |
| 2015 | $3.18B | $99.00M | $3.08B | 9.30% | 0.19B | -9.7% | |
| 2014 | $2.67B | $134.00M | $2.53B | 9.16% | 0.21B | -9.3% | |
| 2013 | $2.37B | $144.00M | $2.23B | 9.56% | 0.23B | -7.7% | |
| 2012 | $1.32B | $183.00M | $1.13B | 8.24% | 0.25B | -10.0% | |
| 2011 | $2.29B | $140.00M | $2.15B | 15.51% | 0.28B | -6.5% | |
| 2010 | $1.18B | $136.00M | $1.04B | 6.86% | 0.30B | -6.9% | |
| 2009 | $1.10B | $105.00M | $995.00M | 7.18% | 0.32B | -3.3% | |
| 2008 | $1.55B | $48.00M | $1.51B | 11.65% | 0.33B | -5.6% | |
| 2007 | $1.18B | $52.00M | $1.12B | 4.87% | 0.35B | -1.2% | |
| 2006 | $825.00M | $57.00M | $768.00M | 3.89% | 0.36B | -1.3% | |
| 2005 | $1.21B | $172.00M | $1.04B | 6.46% | 0.36B | -0.5% | |
| 2004 | $786.00M | $154.00M | $632.00M | 4.42% | 0.36B | -10.7% | |
| 2003 | $200.00M | $0.00 | $200.00M | 1.28% | 0.41B | +78.6% | |
| 2002 | $0.00 | $0.00 | $0.00 | — | 0.23B | +32.6% | |
| 2001 | $0.00 | $0.00 | $0.00 | — | 0.17B | +21.7% | |
| 2000 | $0.00 | $0.00 | $0.00 | — | 0.14B | +1.5% | |
| 1999 | $0.00 | $0.00 | $0.00 | — | 0.14B | +0.4% | |
| 1998 | $0.00 | $0.00 | $0.00 | — | 0.14B | +2.2% | |
| 1997 | $0.00 | $0.00 | $0.00 | — | 0.14B | +7.0% | |
| 1996 | $0.00 | $0.00 | $0.00 | — | 0.13B | — | |
| 1995 | $79.00M | $0.00 | $79.00M | — | — | — | |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1990 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1989 | $0.00 | $0.00 | $0.00 | — | — | — |
- 2025$1.62B
- 2024$2.51B
- 2023$1.50B
- 2022$1.50B
- 2021$3.71B
- 2020$490.00M
- 2019$809.00M
- 2018$1.26B
- 2017$393.00M
- 2016$1.55B
- 2015$3.18B
- 2014$2.67B
- 2013$2.37B
- 2012$1.32B
- 2011$2.29B
- 2010$1.18B
- 2009$1.10B
- 2008$1.55B
- 2007$1.18B
- 2006$825.00M
- 2005$1.21B
- 2004$786.00M
- 2003$200.00M
- 2002$0.00
- 2001$0.00
- 2000$0.00
- 1999$0.00
- 1998$0.00
- 1997$0.00
- 1996$0.00
- 1995$79.00M
- 1994$0.00
- 1993$0.00
- 1992$0.00
- 1991$0.00
- 1990$0.00
- 1989$0.00
Buybacks vs stock-based compensation for Northrop Grumman (NOC)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 10.18×.
Buybacks vs dividends (share of cash returned) for Northrop Grumman (NOC)
How Northrop Grumman splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Northrop Grumman, ranked by their latest buyback spend.
| $7.55B | |
| $5.19B | |
| $2.68B | |
| $1.86B | |
| $1.14B | |
| $1.13B | |
| $50.00M | |
| $0.00 |
- $7.55B
- $5.19B
- $2.68B
- $1.86B
- $1.14B
- $1.13B
- $50.00M
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $1.98B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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