GD vs. NOC: General Dynamics vs. Northrop Grumman Stock Comparison

November 11, 2026

How do General Dynamics (GD) 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

General Dynamics (GD) 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 General Dynamics (GD) and Northrop Grumman (NOC)
Profile Item	GD	NOC
Name	General Dynamics Corp.	Northrop Grumman Corporation
Country/Region	United States	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	95.68 billion USD	74.59 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

NOC

GSPC

General Dynamics (GD) 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 General Dynamics (GD) and Northrop Grumman (NOC). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Total Return (1Y)	6.52%	-3.34%
Total Return (3Y, Annualized)	16.95%	7.23%
Total Return (5Y, Annualized)	14.65%	9.98%

Risk Profile

Drawdown History

NOC

GSPC

General Dynamics (GD) 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 General Dynamics (GD) 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. General Dynamics (GD) has a non-negative beta of 0.30.

Risk profile metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Volatility (1Y, Annualized)	23.03%	28.86%
Beta (5Y)	0.30	-0.12
Max Drawdown (5Y)	-22.55%	-37.80%
Avg. Volume (3M)	1.19M	902.47K

Risk-Adjusted Performance

Risk-Return Positioning

GD 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 General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Sharpe Ratio (1Y)	0.10	-0.26
Sortino Ratio (1Y)	0.15	-0.37

Profitability

ROE (TTM)

Northrop Grumman (NOC) at 26.07% sits in the top ROE quartile, while General Dynamics (GD) at 18.01% is closer to the peer norm — stronger capital efficiency for NOC.

GD

Capital Goods industry group

18.01%

Max: 40.55%
Q3: 19.29%
GD: 18.01%
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%

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both General Dynamics (GD) at 8.24% 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.

GD

Capital Goods industry group

8.24%

Max: 27.47%
Q3: 12.10%
GD: 8.24%
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%

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both General Dynamics (GD) at 10.49% and Northrop Grumman (NOC) at 12.91% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

GD

Capital Goods industry group

10.49%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
GD: 10.49%
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%

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
ROE (TTM)	18.01%	26.07%
ROA (TTM)	6.23%	7.11%
Net Margin (TTM)	8.24%	10.37%
Operating Margin (TTM)	10.49%	12.91%
Gross Margin (TTM)	15.42%	20.03%

Growth

Revenue Growth

Both General Dynamics (GD) at 10.13% 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.

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both General Dynamics (GD) at 13.35% and Northrop Grumman (NOC) at 2.61% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Revenue Growth (YoY)	10.13%	2.24%
Revenue Growth (3Y CAGR)	10.07%	4.65%
EPS Growth (YoY)	13.35%	2.61%
EPS Growth (3Y CAGR)	8.22%	-2.60%

Financial Strength

Current Ratio (MRQ)

Both General Dynamics (GD) at 1.43 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.

GD

Capital Goods industry group

1.43

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
GD: 1.43
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

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both General Dynamics (GD) at 0.33 and Northrop Grumman (NOC) at 0.93 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

GD

Capital Goods industry group

0.33

Max: 2.33
Q3: 1.12
Median: 0.60
GD: 0.33
Q1: 0.29
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

General Dynamics (GD) 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 General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Current Ratio (MRQ)	1.43	1.23
Debt / Equity (MRQ)	0.33	0.93
Net Debt / EBITDA	0.68	1.87

Dividends

Dividend Yield (TTM)

Both General Dynamics (GD) at 1.76% and Northrop Grumman (NOC) at 1.82% offer top-quartile dividend income relative to share price within their industries.

GD

Capital Goods industry group

1.76%

Max: 2.66%
GD: 1.76%
Q3: 1.14%
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%

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both General Dynamics (GD) at 36.90% and Northrop Grumman (NOC) at 30.18% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

GD

Capital Goods industry group

36.90%

Max: 67.39%
GD: 36.90%
Q3: 28.02%
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%

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
Dividend Yield (TTM)	1.76%	1.82%
Dividend Payout Ratio (TTM)	36.90%	30.18%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 sits in the cheaper P/E ratio quartile, while General Dynamics (GD) at 20.84 is closer to its industry’s usual earnings multiple — a discount for NOC, though growth and earnings durability still matter.

GD

Capital Goods industry group

20.84

Max: 59.38
Q3: 35.92
Median: 25.41
GD: 20.84
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

General Dynamics (GD) 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 General Dynamics (GD) at 1.69 and Northrop Grumman (NOC) at 1.71 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

GD

Capital Goods industry group

1.69

Max: 7.54
Q3: 3.76
Median: 2.15
GD: 1.69
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

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both General Dynamics (GD) at 3.50 and Northrop Grumman (NOC) at 3.99 are valued close to their industries’ norm against book — neither stands out from peers.

GD

Capital Goods industry group

3.50

Max: 9.66
Q3: 5.00
GD: 3.50
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

General Dynamics (GD) vs. Northrop Grumman (NOC): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for General Dynamics (GD) and Northrop Grumman (NOC)
Metric	GD	NOC
P/E Ratio (TTM)	20.84	16.57
P/S Ratio (TTM)	1.69	1.71
P/B Ratio (MRQ)	3.50	3.99
Free Cash Flow Yield (TTM)	4.76%	4.21%