Northrop Grumman Corporation (NOC)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	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
Operating income (ttm)	US$ in thousands	2,537,000	3,836,000	3,664,000	3,651,000	3,601,000	3,437,000	3,636,000	3,726,000	5,651,000	6,061,000	6,003,000	5,953,000	4,065,000	4,049,000	4,015,000	3,967,000	3,969,000	3,776,000	3,997,000	3,868,000
Revenue (ttm)	US$ in thousands	39,290,000	38,685,000	37,881,000	37,106,000	36,602,000	35,208,000	34,957,000	35,307,000	35,667,000	37,240,000	37,603,000	37,336,000	36,799,000	35,308,000	34,700,000	34,272,000	33,841,000	33,276,000	32,886,000	31,549,000
Operating profit margin		6.46%	9.92%	9.67%	9.84%	9.84%	9.76%	10.40%	10.55%	15.84%	16.28%	15.96%	15.94%	11.05%	11.47%	11.57%	11.58%	11.73%	11.35%	12.15%	12.26%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $2,537,000K ÷ $39,290,000K
= 6.46%

The operating profit margin of Northrop Grumman Corp. has exhibited some fluctuation over the past eight quarters. It decreased from 10.55% in March 2022 to 9.67% in June 2023, then increased to 9.92% in September 2023, and further rose to 6.46% in December 2023. This fluctuation may indicate varying levels of efficiency in controlling operating expenses and generating profits from operations. It would be prudent to conduct further analysis of the company's cost structure and revenue sources to understand the factors contributing to these fluctuations and to assess the sustainability of the operating profit margin levels.