General Dynamics vs Northrop Grumman
General Dynamics is the larger business, with $52.55bn of revenue in fiscal 2025 against $41.95bn for Northrop Grumman (1.3 times as much). General Dynamics grew faster (10.1% against 2.2%). Northrop Grumman kept more of each dollar of sales as profit: a net margin of 10.0% against 8.0%.
| Latest fiscal year | General DynamicsGD, 2025 | Northrop GrummanNOC, 2025 |
|---|---|---|
| Revenue | $52.55bn | $41.95bn |
| Revenue growth | 10.1% | 2.2% |
| Net income | $4.21bn | $4.18bn |
| Operating margin | — | 10.8% |
| Net margin | 8.0% | 10.0% |
| Return on equity | 17.7% | 26.2% |
| Free cash flow | $3.96bn | $3.31bn |
| Cash | $2.33bn | $4.40bn |
| Total debt | $8.07bn | $15.80bn |
| Debt to equity | — | 94.7% |
| Dividend per share | — | $8.99 |
| Dividend yield | 1.6% | 1.7% |
| Share buybacks | $637m | $1.62bn |
| Employees | 40,000 | 95,000 |
| Market value | $102.13bn | $78.09bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 60 (Moderate) | 74 (Strong) |
| Insider trades, 12 months | 0 buys, 27 sales | 0 buys, 61 sales |