NOC vs. WWD: Northrop Grumman vs. Woodward Stock Comparison

November 11, 2026

How do Northrop Grumman (NOC) and Woodward (WWD) 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

Northrop Grumman (NOC) and Woodward (WWD) 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 Northrop Grumman (NOC) and Woodward (WWD)
Profile Item	NOC	WWD
Name	Northrop Grumman Corporation	Woodward, Inc.
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	74.59 billion USD	18.74 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	December 31, 1981	April 4, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

NOC

WWD

GSPC

Northrop Grumman (NOC) vs. Woodward (WWD), 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

Loading price history…

Trailing total returns for Northrop Grumman (NOC) and Woodward (WWD). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

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

Performance Metrics

Price performance metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Total Return (1Y)	-3.34%	25.66%
Total Return (3Y, Annualized)	7.23%	36.83%
Total Return (5Y, Annualized)	9.98%	23.54%

Risk Profile

Drawdown History

NOC

WWD

GSPC

Northrop Grumman (NOC) vs. Woodward (WWD), 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

Loading price history…

Distribution of monthly total returns for Northrop Grumman (NOC) and Woodward (WWD). 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. Woodward (WWD) has a non-negative beta of 0.87.

Risk profile metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Volatility (1Y, Annualized)	28.86%	40.29%
Beta (5Y)	-0.12	0.87
Max Drawdown (5Y)	-37.80%	-37.25%
Avg. Volume (3M)	902.47K	665.85K

Risk-Adjusted Performance

Risk-Return Positioning

NOC and WWD 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 Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Sharpe Ratio (1Y)	-0.26	0.53
Sortino Ratio (1Y)	-0.37	0.85

Profitability

ROE (TTM)

Both Northrop Grumman (NOC) at 26.07% and Woodward (WWD) at 22.34% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

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%

WWD

Capital Goods industry group

22.34%

Max: 40.55%
WWD: 22.34%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

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

Net Margin (TTM)

Woodward (WWD) at 13.17% retains a top-quartile share of revenue as profit, ahead of Northrop Grumman (NOC) at 10.37%, which keeps about the industry-typical share.

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%

WWD

Capital Goods industry group

13.17%

Max: 27.47%
WWD: 13.17%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Both Northrop Grumman (NOC) at 12.91% and Woodward (WWD) at 17.76% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

WWD

Capital Goods industry group

17.76%

Max: 36.60%
Q3: 18.33%
WWD: 17.76%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
ROE (TTM)	26.07%	22.34%
ROA (TTM)	7.11%	8.62%
Net Margin (TTM)	10.37%	13.17%
Operating Margin (TTM)	12.91%	17.76%
Gross Margin (TTM)	20.03%	29.63%

Growth

Revenue Growth

Both Northrop Grumman (NOC) at 2.24% and Woodward (WWD) at 7.30% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Northrop Grumman (NOC) vs. Woodward (WWD): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Northrop Grumman (NOC) at 2.61% and Woodward (WWD) at 19.63% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Northrop Grumman (NOC) vs. Woodward (WWD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Revenue Growth (YoY)	2.24%	7.30%
Revenue Growth (3Y CAGR)	4.65%	14.40%
EPS Growth (YoY)	2.61%	19.63%
EPS Growth (3Y CAGR)	-2.60%	38.44%

Financial Strength

Current Ratio (MRQ)

Woodward (WWD) at 1.65 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.

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

WWD

Capital Goods industry group

1.65

Max: 5.22
Q3: 2.95
Median: 2.08
WWD: 1.65
Q1: 1.43
Min: 0.36

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

Debt / Equity (MRQ)

Both Northrop Grumman (NOC) at 0.93 and Woodward (WWD) at 0.56 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

WWD

Capital Goods industry group

0.56

Max: 2.33
Q3: 1.12
Median: 0.60
WWD: 0.56
Q1: 0.29
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Current Ratio (MRQ)	1.23	1.65
Debt / Equity (MRQ)	0.93	0.56
Net Debt / EBITDA	1.87	1.13

Dividends

Dividend Yield (TTM)

Northrop Grumman (NOC) at 1.82% delivers top-quartile income for its industry, while Woodward (WWD) at 0.32% pays a more typical yield — both are credible income propositions, NOC the richer one.

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%

WWD

Capital Goods industry group

0.32%

Max: 2.66%
Q3: 1.14%
WWD: 0.32%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Woodward (WWD) at 13.35% 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.

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%

WWD

Capital Goods industry group

13.35%

Max: 67.39%
Q3: 28.02%
WWD: 13.35%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
Dividend Yield (TTM)	1.82%	0.32%
Dividend Payout Ratio (TTM)	30.18%	13.35%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 sits in the cheaper P/E ratio quartile, while Woodward (WWD) at 35.30 is closer to its industry’s usual earnings multiple — a discount for NOC, though growth and earnings durability still matter.

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

WWD

Capital Goods industry group

35.30

Max: 59.38
Q3: 35.92
WWD: 35.30
Median: 25.41
Q1: 19.47
Min: 3.03

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

P/S Ratio (TTM)

Northrop Grumman (NOC) at 1.71 is priced about in line with its industry on P/S ratio, while Woodward (WWD) at 4.47 sits in the pricier quartile — WWD costs more per dollar of sales.

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

WWD

Capital Goods industry group

4.47

Max: 7.54
WWD: 4.47
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Northrop Grumman (NOC) vs. Woodward (WWD): 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 Woodward (WWD) at 7.60 carries an above-peer premium to book — WWD is pricier on assets.

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

WWD

Capital Goods industry group

7.60

Max: 9.66
WWD: 7.60
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Northrop Grumman (NOC) and Woodward (WWD)
Metric	NOC	WWD
P/E Ratio (TTM)	16.57	35.30
P/S Ratio (TTM)	1.71	4.47
P/B Ratio (MRQ)	3.99	7.60
Free Cash Flow Yield (TTM)	4.21%	1.00%