HWM vs. NOC: Howmet Aerospace vs. Northrop Grumman Stock Comparison

November 11, 2026

How do Howmet Aerospace (HWM) 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

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Profile Item	HWM	NOC
Name	Howmet Aerospace Inc.	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	81.84 billion USD	74.59 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 1, 2016	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HWM

NOC

GSPC

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Northrop Grumman (NOC). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Total Return (1Y)	5.06%	-3.34%
Total Return (3Y, Annualized)	64.83%	7.23%
Total Return (5Y, Annualized)	46.04%	9.98%

Risk Profile

Drawdown History

HWM

NOC

GSPC

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) 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. Howmet Aerospace (HWM) has a non-negative beta of 1.27.

Risk profile metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Volatility (1Y, Annualized)	37.60%	28.86%
Beta (5Y)	1.27	-0.12
Max Drawdown (5Y)	-36.47%	-37.80%
Avg. Volume (3M)	3.47M	902.47K

Risk-Adjusted Performance

Risk-Return Positioning

HWM 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 Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Sharpe Ratio (1Y)	0.02	-0.26
Sortino Ratio (1Y)	0.03	-0.37

Profitability

ROE (TTM)

Both Howmet Aerospace (HWM) at 37.65% and Northrop Grumman (NOC) at 26.07% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

HWM

Capital Goods industry group

37.65%

Max: 40.55%
HWM: 37.65%
Q3: 19.29%
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%

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Howmet Aerospace (HWM) at 21.10% retains a top-quartile share of revenue as profit, ahead of Northrop Grumman (NOC) at 10.37%, which keeps about the industry-typical share.

HWM

Capital Goods industry group

21.10%

Max: 27.47%
HWM: 21.10%
Q3: 12.10%
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%

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Howmet Aerospace (HWM) at 28.78% operates in the top operating margin quartile, ahead of Northrop Grumman (NOC) at 12.91%, which runs around its industry’s norm.

HWM

Capital Goods industry group

28.78%

Max: 36.60%
HWM: 28.78%
Q3: 18.33%
Median: 11.12%
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%

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
ROE (TTM)	37.65%	26.07%
ROA (TTM)	13.97%	7.11%
Net Margin (TTM)	21.10%	10.37%
Operating Margin (TTM)	28.78%	12.91%
Gross Margin (TTM)	36.63%	20.03%

Growth

Revenue Growth

Both Howmet Aerospace (HWM) at 11.06% 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.

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Howmet Aerospace (HWM) at 32.03% 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 HWM.

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Revenue Growth (YoY)	11.06%	2.24%
Revenue Growth (3Y CAGR)	13.37%	4.65%
EPS Growth (YoY)	32.03%	2.61%
EPS Growth (3Y CAGR)	49.51%	-2.60%

Financial Strength

Current Ratio (MRQ)

Howmet Aerospace (HWM) at 1.86 keeps current ratio within its industry’s typical mid-range, while Northrop Grumman (NOC) at 1.23 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for NOC.

HWM

Capital Goods industry group

1.86

Max: 5.22
Q3: 2.95
Median: 2.08
HWM: 1.86
Q1: 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

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both Howmet Aerospace (HWM) at 0.80 and Northrop Grumman (NOC) at 0.93 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

HWM

Capital Goods industry group

0.80

Max: 2.33
Q3: 1.12
HWM: 0.80
Median: 0.60
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

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Current Ratio (MRQ)	1.86	1.23
Debt / Equity (MRQ)	0.80	0.93
Net Debt / EBITDA	1.35	1.87

Dividends

Dividend Yield (TTM)

Northrop Grumman (NOC) at 1.82% delivers top-quartile income for its industry, while Howmet Aerospace (HWM) at 0.25% pays a more typical yield — both are credible income propositions, NOC the richer one.

HWM

Capital Goods industry group

0.25%

Max: 2.66%
Q3: 1.14%
HWM: 0.25%
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%

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Howmet Aerospace (HWM) at 9.80% 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.

HWM

Capital Goods industry group

9.80%

Max: 67.39%
Q3: 28.02%
HWM: 9.80%
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%

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
Dividend Yield (TTM)	0.25%	1.82%
Dividend Payout Ratio (TTM)	9.80%	30.18%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 sits in the cheaper P/E ratio quartile, while Howmet Aerospace (HWM) at 40.35 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

HWM

Capital Goods industry group

40.35

Max: 59.38
HWM: 40.35
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

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Northrop Grumman (NOC) at 1.71 prices around its industry’s typical P/S ratio, while Howmet Aerospace (HWM) at 8.41 clears its benchmark range — HWM looks notably rich on sales.

HWM

Capital Goods industry group

8.41

HWM: 8.41
Max: 7.54
Q3: 3.76
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

Howmet Aerospace (HWM) 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 sits near its industry’s typical P/B ratio, while Howmet Aerospace (HWM) at 14.20 prices above its benchmark range — HWM looks rich relative to book.

HWM

Capital Goods industry group

14.20

HWM: 14.20
Max: 9.66
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

Howmet Aerospace (HWM) vs. Northrop Grumman (NOC): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Howmet Aerospace (HWM) and Northrop Grumman (NOC)
Metric	HWM	NOC
P/E Ratio (TTM)	40.35	16.57
P/S Ratio (TTM)	8.41	1.71
P/B Ratio (MRQ)	14.20	3.99
Free Cash Flow Yield (TTM)	1.58%	4.21%