Stock Analysis on Net
Stock Analysis on Net

Northrop Grumman Corp. (NYSE:NOC)

$22.49

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

Common-Size Balance Sheet: Assets
Quarterly Data

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Northrop Grumman Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Cash and cash equivalents
Accounts receivable, net
Unbilled receivables, net
Inventoried costs, net
Prepaid expenses and other current assets
Assets of disposal group held for sale
Current assets
Property, plant and equipment, net of accumulated depreciation
Operating lease right-of-use assets
Goodwill
Intangible assets, net
Deferred tax assets
Other non-current assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Cash and Cash Equivalents
Cash and cash equivalents as a percentage of total assets showed a marked decline from 29.8% in Q1 2018 to a low around 1.9%-2.8% between Q1 2019 and Q3 2022, with some recovery observed especially from Q3 2020 through Q4 2021 when it stabilized between approximately 8% and 11%. The most recent quarters show a moderate level near 5.6%-5.9%.
Accounts Receivable, Net
The proportion of accounts receivable relative to total assets varied around low single digits, ranging mostly between 3.2% and 5.7%. A slight decrease appears toward the end of 2022 and early 2023 periods, indicating a relatively stable but modest contribution to total assets.
Unbilled Receivables, Net
Unbilled receivables consistently represented a significant portion of total assets, fluctuating between roughly 11% and 15%. There was a gently increasing trend in this item from 2018 through 2022, peaking above 15% towards late 2022 before slightly decreasing again.
Inventoried Costs, Net
The value of inventoried costs as a share of total assets increased modestly over time, from around 1.25% in early 2018 up to approximately 2.5% by Q1 2023. This steady rise may indicate growing inventory levels or capitalized costs within the business.
Prepaid Expenses and Other Current Assets
This category remained relatively minor but showed variability, typically ranging from around 0.7% to as much as 3.3%. Notable spikes occurred in late 2020 and into 2022, suggesting some episodic increases in prepaid or other current asset balances.
Current Assets
Current assets as a whole declined sharply from a high of 46.43% of total assets in Q1 2018 to around 25%-30% in subsequent years, with a modest upward trend from 2019 through 2021. The level has since stabilized around the high 20% range into early 2023.
Property, Plant & Equipment, Net
This asset class increased steadily as a percentage of total assets, from approximately 12% in early 2018 to nearly 20% by late 2022. This indicates ongoing investment or expansion in fixed assets over the period analyzed.
Operating Lease Right-of-Use Assets
Introduced around late 2018–early 2019 with a notable presence (~3%), these assets have shown a slow but continuous increase up to around 4.1% of total assets by late 2022, reflecting lease capitalization per accounting standards.
Goodwill
Goodwill comprised a substantial share of total assets, peaking near 50% in mid-2018 and then showing a gradual persistent decline to below 40% by early 2023. This reduction may indicate impairment charges or asset reclassifications over the years.
Intangible Assets, Net
Intangible assets steadily decreased relative to total assets, starting near 3.6% in mid-2018 and declining consistently to under 1% by early 2023, suggesting amortization or disposal of intangible assets over time.
Deferred Tax Assets
Deferred tax assets fluctuated throughout the period, generally remaining below 1.5% of total assets, with occasional slight increases. The lack of a distinct trend points to variability in tax-related asset recognition but overall minor contribution.
Other Non-Current Assets
Other non-current assets increased modestly as a percentage of total assets, moving from approximately 4% in 2018 to over 6% by early 2023, indicating growth in other long-term holdings or investments.
Non-Current Assets
Non-current assets consistently comprised the majority of total assets, ranging between roughly 65% and 74%. While there was some decline in the proportion of non-current assets during 2020, the general trend saw a gradual increase through 2021 and 2022, reflecting capital investment and asset accumulation over time.