ESLT vs. NOC: Elbit Systems vs. Northrop Grumman Stock Comparison

November 11, 2026

How do Elbit Systems (ESLT) and Northrop Grumman (NOC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Elbit Systems (ESLT) and Northrop Grumman (NOC) are both classified in the Aerospace & Defense sub-industry within the broader Aerospace & Defense industry, placing them in the closest GICS peer bucket.

Company profile comparison for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Profile Item	ESLT	NOC
Name	Elbit Systems Ltd.	Northrop Grumman Corporation
Country/Region	Israel	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Aerospace & Defense	Aerospace & Defense
GICS Sub-Industry	Aerospace & Defense	Aerospace & Defense
Market Capitalization	32.00 billion USD	74.59 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	November 27, 1996	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ESLT

NOC

GSPC

Elbit Systems (ESLT) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Elbit Systems (ESLT) and Northrop Grumman (NOC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Elbit Systems (ESLT) and Northrop Grumman (NOC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Total Return (1Y)	55.34%	-3.34%
Total Return (3Y, Annualized)	57.29%	7.23%
Total Return (5Y, Annualized)	37.24%	9.98%

Risk Profile

Drawdown History

ESLT

NOC

GSPC

Elbit Systems (ESLT) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Elbit Systems (ESLT) and Northrop Grumman (NOC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Northrop Grumman (NOC) reports a negative beta of -0.12, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. Elbit Systems (ESLT) has a non-negative beta of 0.10.

Risk profile metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Volatility (1Y, Annualized)	47.34%	28.86%
Beta (5Y)	0.10	-0.12
Max Drawdown (5Y)	-35.54%	-37.80%
Avg. Volume (3M)	88.09K	902.47K

Risk-Adjusted Performance

Risk-Return Positioning

ESLT and NOC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Sharpe Ratio (1Y)	1.08	-0.26
Sortino Ratio (1Y)	1.76	-0.37

Profitability

ROE (TTM)

Northrop Grumman (NOC) at 26.07% sits in the top ROE quartile, while Elbit Systems (ESLT) at 15.24% is closer to the peer norm — stronger capital efficiency for NOC.

ESLT

Capital Goods industry group

15.24%

Max: 40.55%
Q3: 19.29%
ESLT: 15.24%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

NOC

Capital Goods industry group

26.07%

Max: 40.55%
NOC: 26.07%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both Elbit Systems (ESLT) at 7.44% and Northrop Grumman (NOC) at 10.37% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

ESLT

Capital Goods industry group

7.44%

Max: 27.47%
Q3: 12.10%
ESLT: 7.44%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

NOC

Capital Goods industry group

10.37%

Max: 27.47%
Q3: 12.10%
NOC: 10.37%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both Elbit Systems (ESLT) at 9.57% and Northrop Grumman (NOC) at 12.91% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

ESLT

Capital Goods industry group

9.57%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
ESLT: 9.57%
Q1: 5.14%
Min: -12.63%

NOC

Capital Goods industry group

12.91%

Max: 36.60%
Q3: 18.33%
NOC: 12.91%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
ROE (TTM)	15.24%	26.07%
ROA (TTM)	3.87%	7.11%
Net Margin (TTM)	7.44%	10.37%
Operating Margin (TTM)	9.57%	12.91%
Gross Margin (TTM)	25.03%	20.03%

Growth

Revenue Growth

Both Elbit Systems (ESLT) at 16.27% and Northrop Grumman (NOC) at 2.24% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Elbit Systems (ESLT) at 58.64% sits in the top EPS growth quartile, while Northrop Grumman (NOC) at 2.61% is closer to the peer norm — faster per-share earnings growth for ESLT.

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Revenue Growth (YoY)	16.27%	2.24%
Revenue Growth (3Y CAGR)	12.93%	4.65%
EPS Growth (YoY)	58.64%	2.61%
EPS Growth (3Y CAGR)	22.61%	-2.60%

Financial Strength

Current Ratio (MRQ)

Both Elbit Systems (ESLT) at 1.40 and Northrop Grumman (NOC) at 1.23 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

ESLT

Capital Goods industry group

1.40

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
ESLT: 1.40
Min: 0.36

NOC

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
NOC: 1.23
Min: 0.36

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Elbit Systems (ESLT) at 0.19 keeps leverage in the lower industry quartile, while Northrop Grumman (NOC) at 0.93 runs a more typical debt-to-equity mix.

ESLT

Capital Goods industry group

0.19

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
ESLT: 0.19
Min: 0.00

NOC

Capital Goods industry group

0.93

Max: 2.33
Q3: 1.12
NOC: 0.93
Median: 0.60
Q1: 0.29
Min: 0.00

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Current Ratio (MRQ)	1.40	1.23
Debt / Equity (MRQ)	0.19	0.93
Net Debt / EBITDA	-0.11	1.87

Dividends

Dividend Yield (TTM)

Northrop Grumman (NOC) at 1.82% delivers top-quartile income for its industry, while Elbit Systems (ESLT) at 0.58% pays a more typical yield — both are credible income propositions, NOC the richer one.

ESLT

Capital Goods industry group

0.58%

Max: 2.66%
Q3: 1.14%
ESLT: 0.58%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

NOC

Capital Goods industry group

1.82%

Max: 2.66%
NOC: 1.82%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Elbit Systems (ESLT) at 23.33% pays out a band-typical share of earnings, while Northrop Grumman (NOC) at 30.18% distributes more than its industry norm — less retained, thinner cover.

ESLT

Capital Goods industry group

23.33%

Max: 67.39%
Q3: 28.02%
ESLT: 23.33%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

NOC

Capital Goods industry group

30.18%

Max: 67.39%
NOC: 30.18%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
Dividend Yield (TTM)	0.58%	1.82%
Dividend Payout Ratio (TTM)	23.33%	30.18%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 sits in the cheaper P/E ratio quartile, while Elbit Systems (ESLT) at 51.36 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

ESLT

Capital Goods industry group

51.36

Max: 59.38
ESLT: 51.36
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03

NOC

Capital Goods industry group

16.57

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
NOC: 16.57
Min: 3.03

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Elbit Systems (ESLT) at 3.74 and Northrop Grumman (NOC) at 1.71 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

ESLT

Capital Goods industry group

3.74

Max: 7.54
Q3: 3.76
ESLT: 3.74
Median: 2.15
Q1: 1.03
Min: 0.03

NOC

Capital Goods industry group

1.71

Max: 7.54
Q3: 3.76
Median: 2.15
NOC: 1.71
Q1: 1.03
Min: 0.03

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Northrop Grumman (NOC) at 3.99 is valued about in line with its industry on P/B ratio, while Elbit Systems (ESLT) at 7.24 carries an above-peer premium to book — ESLT is pricier on assets.

ESLT

Capital Goods industry group

7.24

Max: 9.66
ESLT: 7.24
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

NOC

Capital Goods industry group

3.99

Max: 9.66
Q3: 5.00
NOC: 3.99
Median: 3.12
Q1: 1.81
Min: -1.08

Elbit Systems (ESLT) vs. Northrop Grumman (NOC): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Elbit Systems (ESLT) and Northrop Grumman (NOC)
Metric	ESLT	NOC
P/E Ratio (TTM)	51.36	16.57
P/S Ratio (TTM)	3.74	1.71
P/B Ratio (MRQ)	7.24	3.99
Free Cash Flow Yield (TTM)	-0.12%	4.21%