Northrop Grumman vs Space Exploration Technologies
Northrop Grumman is the larger business, with $41.95bn of revenue in fiscal 2025 against $18.67bn for Space Exploration Technologies (2.2 times as much). Space Exploration Technologies grew faster (33.2% against 2.2%). Northrop Grumman kept more of each dollar of sales as profit: a net margin of 10.0% against -26.4%. Northrop Grumman carries less debt relative to equity (94.7% against 889.9%).
| Latest fiscal year | Northrop GrummanNOC, 2025 | Space Exploration TechnologiesSPCX, 2025 |
|---|---|---|
| Revenue | $41.95bn | $18.67bn |
| Revenue growth | 2.2% | 33.2% |
| Net income | $4.18bn | −$4.94bn |
| Operating margin | 10.8% | -13.9% |
| Net margin | 10.0% | -26.4% |
| Return on equity | 26.2% | -132.8% |
| Free cash flow | $3.31bn | −$13.95bn |
| Cash | $4.40bn | $24.75bn |
| Total debt | $15.80bn | $22.90bn |
| Debt to equity | 94.7% | 889.9% |
| Dividend per share | $8.99 | — |
| Dividend yield | 1.7% | — |
| Share buybacks | $1.62bn | — |
| Employees | 95,000 | — |
| Market value | $78.09bn | $1.75tn |
| Price vs our value range | Above our value range | — |
| Moat score | 74 (Strong) | — |
| Insider trades, 12 months | 0 buys, 61 sales | 0 buys, 6 sales |