HONA vs NOC: Honeywell Aerospace and Northrop Grumman compared
Northrop Grumman is the larger company, worth $74.6B, about 1.5 times Honeywell Aerospace.
Honeywell Aerospace (HONA)Aerospace & Defense
$152.92$48.5B market cap
vs
Northrop Grumman (NOC)Aerospace & Defense
$525.01$74.6B market cap
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Northrop Grumman is the larger company, worth $74.6B, about 1.5 times Honeywell Aerospace.
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HONA | NOC |
|---|---|---|
| Market cap | $48.5B | $74.6B |
| Share price | $152.92 | $525.01 |
| Revenue (last fiscal year) | — | $42.0B |
| Free cash flow (last fiscal year) | — | $3.3B |
| Revenue growth, last year | — | +6.5% |
| Revenue growth per year, last 5 fiscal years | — | +4.1% |
| Operating margin | — | 10.6% |
| Net margin | — | 10.4% |
| Return on equity | — | 24.2% |
| P/E (trailing) | — | 16.6x |
| Price / free cash flow | — | 19.5x |
| EV / EBITDA | — | 11.6x |
| FCF growth the price implies | — | 6.6% |
| Dividend yield | — | 1.8% |
| Debt / equity | — | 0.81x |
| Fundamental grade | B | C |
| Superinvestors holding it | 31 | 28 |
| Insider purchases, last 12 months | 1 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Honeywell Aerospace
No statements on file.
Northrop Grumman
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $35.7B | $2.2B | 15.8% |
| 2022 | $36.6B | $1.5B | 9.8% |
| 2023 | $39.3B | $2.1B | 6.5% |
| 2024 | $41.0B | $2.6B | 10.6% |
| 2025 | $42.0B | $3.3B | 10.8% |
Where the revenue comes from
Honeywell Aerospace
No segment breakdown reported.
Northrop Grumman · by segments, 2025
Aeronautics Systems$13.0B29%
Mission Systems$12.5B28%
Space Systems$10.8B24%
Defense Systems$8.0B18%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HONA in InvestinglyQuestions
Which is bigger, Honeywell Aerospace or Northrop Grumman?
Northrop Grumman (NOC), at $74.6B against $48.5B.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.