NOC vs. PEP

Last updated Apr 1, 2026

Compare and contrast key facts about Northrop Grumman Corporation (NOC) and PepsiCo, Inc. (PEP).

Performance

NOC vs. PEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northrop Grumman Corporation (NOC) and PepsiCo, Inc. (PEP). The values are adjusted to include any dividend payments, if applicable.

NOC vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOC Northrop Grumman Corporation	20.03%	23.61%	1.93%	-12.79%	43.02%	29.29%	-9.92%	42.69%	-18.95%	33.88%
PEP PepsiCo, Inc.	9.17%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Fundamentals

Market Cap NOC : $97.49B PEP : $212.90B
EPS NOC : $29.15 PEP : $6.00
PE Ratio NOC : 23.40 PEP : 25.86
PEG Ratio NOC : 3.45 PEP : 9.18
PS Ratio NOC : 2.33 PEP : 2.27
PB Ratio NOC : 5.85 PEP : 10.43
Total Revenue (TTM) NOC : $41.95B PEP : $93.93B
Gross Profit (TTM) NOC : $6.02B PEP : $50.86B
EBITDA (TTM) NOC : $6.43B PEP : $14.39B

Returns By Period

In the year-to-date period, NOC achieves a 20.03% return, which is significantly higher than PEP's 9.17% return. Over the past 10 years, NOC has outperformed PEP with an annualized return of 14.86%, while PEP has yielded a comparatively lower 7.32% annualized return.

NOC

• 1D: 1.59%
• 1M: -5.82%
• YTD: 20.03%
• 6M: 12.78%
• 1Y: 35.39%
• 3Y*: 15.80%
• 5Y*: 18.08%
• 10Y*: 14.86%

PEP

• 1D: -0.98%
• 1M: -7.70%
• YTD: 9.17%
• 6M: 12.65%
• 1Y: 7.72%
• 3Y*: -1.95%
• 5Y*: 5.12%
• 10Y*: 7.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NOC vs. PEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOC

NOC Risk / Return Rank: 78
NOC Sharpe Ratio Rank: 80
NOC Sortino Ratio Rank: 73
NOC Omega Ratio Rank: 78
NOC Calmar Ratio Rank: 81
NOC Martin Ratio Rank: 77

PEP

PEP Risk / Return Rank: 52
PEP Sharpe Ratio Rank: 55
PEP Sortino Ratio Rank: 48
PEP Omega Ratio Rank: 45
PEP Calmar Ratio Rank: 55
PEP Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOC vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northrop Grumman Corporation (NOC) and PepsiCo, Inc. (PEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NOC	PEP	Difference
Sharpe ratio Return per unit of total volatility	1.23	0.35	+0.88
Sortino ratio Return per unit of downside risk	1.71	0.70	+1.01
Omega ratio Gain probability vs. loss probability	1.26	1.08	+0.18
Calmar ratio Return relative to maximum drawdown	2.27	0.54	+1.73
Martin ratio Return relative to average drawdown	4.89	1.11	+3.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOC vs. PEP - Sharpe Ratio Comparison

The current NOC Sharpe Ratio is 1.23, which is higher than the PEP Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of NOC and PEP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NOC	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.35	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.28	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.38	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.39	+0.09

Correlation

The correlation between NOC and PEP is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NOC vs. PEP - Dividend Comparison

NOC's dividend yield for the trailing twelve months is around 1.35%, less than PEP's 3.66% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOC Northrop Grumman Corporation	1.35%	1.58%	1.72%	1.57%	1.24%	1.59%	1.86%	1.50%	1.92%	1.27%	1.50%	1.64%
PEP PepsiCo, Inc.	3.66%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Drawdowns

NOC vs. PEP - Drawdown Comparison

The maximum NOC drawdown since its inception was -71.12%, roughly equal to the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for NOC and PEP.

Drawdown Indicators

	NOC	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-71.12%	-73.92%	+2.80%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-15.14%	-0.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.28%	-30.32%	+8.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.38%	-30.32%	-6.06%
Current Drawdown Current decline from peak	-11.17%	-12.39%	+1.22%
Average Drawdown Average peak-to-trough decline	-18.38%	-13.64%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.22%	7.37%	-0.15%

Volatility

NOC vs. PEP - Volatility Comparison

Northrop Grumman Corporation (NOC) has a higher volatility of 6.32% compared to PepsiCo, Inc. (PEP) at 5.35%. This indicates that NOC's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOC	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	5.35%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	19.31%	14.83%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	28.91%	22.46%	+6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.94%	18.11%	+6.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.18%	19.55%	+5.63%

Financials

NOC vs. PEP - Profitability Comparison

The chart below illustrates the profitability comparison between Northrop Grumman Corporation and PepsiCo, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NOC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported a gross profit of 0.00 and revenue of 11.71B. Therefore, the gross margin over that period was 0.0%.

PEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a gross profit of 15.62B and revenue of 29.34B. Therefore, the gross margin over that period was 53.2%.

NOC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported an operating income of 1.27B and revenue of 11.71B, resulting in an operating margin of 10.9%.

PEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported an operating income of 3.56B and revenue of 29.34B, resulting in an operating margin of 12.1%.

NOC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported a net income of 1.43B and revenue of 11.71B, resulting in a net margin of 12.2%.

PEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a net income of 2.54B and revenue of 29.34B, resulting in a net margin of 8.7%.