Northrop Grumman reported $110B of remaining performance obligations at 30 Sep 2026, up 20% from a year earlier and up 5% from the previous quarter. That is 2.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.44.
Net new backlog added in the latest quarter: $4.90B.
Over the last twelve months it turned about 45% of its opening backlog into revenue (12-month conversion).
35% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 3.5% of the backlog.
Twelve-month book-to-bill: 1.42, i.e. 1.42 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +13 points — orders are running ahead of revenue.
By backlog size it ranks 12th among US filers the cockpit tracks.
Northrop Grumman backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$110B
$43.6B
2.5 yrs
$3.84B
30 Jun 2026
$105B
$42.9B
2.4 yrs
$3.82B
31 Mar 2026
$95.6B
$42.4B
2.3 yrs
$3.70B
31 Dec 2025
$95.7B
$42.0B
2.3 yrs
$4.09B
30 Sep 2025
$91.4B
$40.9B
2.2 yrs
$3.56B
30 Jun 2025
$89.7B
$40.5B
2.2 yrs
$4.00B
31 Mar 2025
$92.8B
$40.4B
2.3 yrs
$3.71B
31 Dec 2024
$91.5B
$41.0B
2.2 yrs
$4.07B
30 Sep 2024
$84.8B
$41.0B
2.1 yrs
$3.16B
30 Jun 2024
$83.1B
$40.8B
2.0 yrs
$3.29B
31 Mar 2024
$78.9B
$40.1B
2.0 yrs
$3.53B
31 Dec 2023
$84.2B
$39.3B
2.1 yrs
$4.19B
Questions
What is Northrop Grumman's backlog?
Northrop Grumman reported $110B of remaining performance obligations at 30 Sep 2026, up 20% from a year earlier and up 5% from the previous quarter. That is 2.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.44.
How fast does Northrop Grumman's backlog turn into revenue?
Over the last twelve months Northrop Grumman recognised revenue equal to about 45% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.