PM vs. NOC
PM (Philip Morris International Inc.) and NOC (Northrop Grumman Corporation) are both stocks. PM operates in Tobacco (Consumer Defensive), while NOC operates in Aerospace & Defense (Industrials). Over the past 10 years, PM returned 11.71%/yr vs 11.53%/yr for NOC. At a 0.32 correlation, their price movements are largely independent.
Performance
PM vs. NOC - Performance Comparison
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Returns By Period
In the year-to-date period, PM achieves a 15.93% return, which is significantly higher than NOC's -2.75% return. Both investments have delivered pretty close results over the past 10 years, with PM having a 11.71% annualized return and NOC not far behind at 11.53%.
PM
- 1D
- 1.95%
- 1M
- -1.92%
- YTD
- 15.93%
- 6M
- 22.12%
- 1Y
- 3.66%
- 3Y*
- 31.18%
- 5Y*
- 18.78%
- 10Y*
- 11.71%
NOC
- 1D
- -0.40%
- 1M
- 0.17%
- YTD
- -2.75%
- 6M
- -2.67%
- 1Y
- 12.44%
- 3Y*
- 8.64%
- 5Y*
- 9.73%
- 10Y*
- 11.53%
PM vs. NOC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PM Philip Morris International Inc. | 15.93% | 37.99% | 34.34% | -1.85% | 12.31% | 20.78% | 3.69% | 35.02% | -33.30% | 19.85% |
NOC Northrop Grumman Corporation | -2.75% | 23.61% | 1.93% | -12.79% | 43.02% | 29.29% | -9.92% | 42.69% | -18.95% | 33.88% |
Correlation
The correlation between PM and NOC is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.32 |
The correlation between PM and NOC shifts across timeframes, from 0.15 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
Fundamentals
PM:
$288.03B
NOC:
$78.42B
PM:
$7.12
NOC:
$31.95
PM:
25.90
NOC:
17.22
PM:
2.81
NOC:
2.54
PM:
6.93
NOC:
1.86
PM:
$41.49B
NOC:
$42.37B
PM:
$27.93B
NOC:
$8.69B
PM:
$17.74B
NOC:
$7.50B
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Return for Risk
PM vs. NOC — Risk / Return Rank
PM
NOC
PM vs. NOC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Philip Morris International Inc. (PM) and Northrop Grumman Corporation (NOC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PM | NOC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.40 | -0.22 |
| Martin ratioReturn relative to average drawdown | 0.34 | 1.02 | -0.68 |
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Drawdowns
PM vs. NOC - Drawdown Comparison
The maximum PM drawdown since its inception was -42.87%, smaller than the maximum NOC drawdown of -71.12%. Use the drawdown chart below to compare losses from any high point for PM and NOC.
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Drawdown Indicators
| PM | NOC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.87% | -71.12% | +28.25% |
Max Drawdown (1Y)Largest decline over 1 year | -20.64% | -31.20% | +10.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -31.20% | +10.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | -31.20% | +8.42% |
Max Drawdown (10Y)Largest decline over 10 years | -42.87% | -36.38% | -6.49% |
Current DrawdownCurrent decline from peak | -3.94% | -28.03% | +24.09% |
Average DrawdownAverage peak-to-trough decline | -10.02% | -18.40% | +8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.81% | 12.25% | -1.44% |
Volatility
PM vs. NOC - Volatility Comparison
Philip Morris International Inc. (PM) has a higher volatility of 7.76% compared to Northrop Grumman Corporation (NOC) at 7.39%. This indicates that PM's price experiences larger fluctuations and is considered to be riskier than NOC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PM | NOC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.76% | 7.39% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 21.25% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 26.55% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.73% | 25.28% | -2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.46% | 25.42% | -0.96% |
Dividends
PM vs. NOC - Dividend Comparison
PM's dividend yield for the trailing twelve months is around 3.13%, more than NOC's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOC Northrop Grumman Corporation | 1.71% | 1.58% | 1.72% | 1.57% | 1.24% | 1.59% | 1.86% | 1.50% | 1.92% | 1.27% | 1.50% | 1.64% |
PM Philip Morris International Inc. | 3.13% | 3.52% | 4.40% | 5.46% | 4.98% | 5.16% | 5.73% | 5.43% | 6.73% | 3.99% | 4.50% | 4.60% |
Financials
PM vs. NOC - Financials Comparison
This section allows you to compare key financial metrics between Philip Morris International Inc. and Northrop Grumman Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PM vs. NOC - Profitability Comparison
PM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a gross profit of 6.91B and revenue of 10.15B. Therefore, the gross margin over that period was 68.1%.
NOC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported a gross profit of 1.96B and revenue of 9.88B. Therefore, the gross margin over that period was 19.8%.
PM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported an operating income of 3.89B and revenue of 10.15B, resulting in an operating margin of 38.4%.
NOC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported an operating income of 989.00M and revenue of 9.88B, resulting in an operating margin of 10.0%.
PM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a net income of 2.44B and revenue of 10.15B, resulting in a net margin of 24.0%.
NOC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Northrop Grumman Corporation reported a net income of 875.00M and revenue of 9.88B, resulting in a net margin of 8.9%.
Frequently Asked Questions
PM and NOC have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PM has higher volatility (7.76%) compared to NOC (7.39%). In terms of maximum drawdown, PM dropped -42.87% vs NOC's -71.12%.
NOC currently has the higher Sharpe Ratio (0.47 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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