Northrop Grumman reported QQ3 2025 revenue of $10.423 billion, up 4.3% year-over-year and 0.7% quarter-over-quarter, with gross margin of 21.37% and operating margin of 11.92%. Net income reached $1.10 billion, delivering $7.69 in diluted EPS, supported by robust operating efficiency and favorable product mix. EBITDA stood at $1.863 billion, while free cash flow per share was $8.78 and operating cash flow per share was $10.88, underscoring the company’s ability to translate top-line strength into solid cash generation despite a modest leverage profile. The balance sheet remains conservatively positioned, with a debt ratio of 7.3% and a debt-to-capitalization ratio of 18.5%, and liquidity metrics showing a current ratio of 1.11 and a quick ratio near 0.98. The company continues to generate meaningful cash flow from operations, supporting a payout ratio of 30% and a dividend yield of approximately 0.38% in a conservative defense investment context. While backlog detail and segment-level data are not disclosed in the provided dataset, management commentary historically emphasizes sustained demand from DoD programs, program awards, and long-cycle defense programs as ongoing growth drivers. The QQ3 2025 results reaffirm Northrop Grumman’s defensive portfolio positioning, disciplined cost structure, and resilient cash-generating profile in a sector characterized by high barriers to entry and relatively stable end-market demand.