Common-Size Balance Sheet: Assets
Quarterly Data
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Lockheed Martin Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets exhibit considerable variability over the periods. Initially increasing from 4.04% in early 2020 to a peak above 7% at the end of 2020, it then declined to as low as 2.2% in mid-2025 before rising again to 5.76% at the last recorded period. This fluctuating trend suggests changes in liquidity management or operational cash flow requirements.
- Receivables, Net
- The proportion of net receivables in total assets showed moderate fluctuations, mostly oscillating between roughly 3.5% and 6.5%. Peaks were observed in mid-2022 and mid-2025, indicating periods of increased outstanding customer balances or sales on credit, while the lower points indicate potential collection improvements or changes in sales mix.
- Contract Assets
- Contract assets consistently represent a significant portion of total assets, ranging generally between 18% and 26%. An upward trend is noticeable over the later periods, particularly from late 2021 onward, with values often exceeding 24%. This trend reflects growing recognition of revenue tied to unbilled receivables, which may indicate increased contract work in progress or changes in contract accounting.
- Inventories
- Inventories as a percentage of total assets remained relatively stable, fluctuating mainly between about 5.6% and 7.2%. Minor declines are visible in several periods followed by slight recoveries, suggesting consistent inventory management without significant accumulation or depletion during the observed timeframe.
- Other Current Assets
- This category showed modest variability, mostly maintaining a level around 1% of total assets, with minor fluctuations between approximately 0.8% and 1.5%. The lack of significant trends implies other current assets have minimal impact on overall asset composition changes.
- Current Assets
- Total current assets as a percent of total assets stayed generally stable around 39% to 43%, with moderate oscillations. This steadiness suggests a balanced current asset structure relative to total assets across the reported periods.
- Property, Plant, and Equipment, Net
- The net value of property, plant, and equipment relative to total assets showed gradual growth from roughly 13.4% in early 2020 to a peak nearing 16% by the end of 2023. Following this, a slight decline occurred. This reflects ongoing investment and capital expenditure possibly offset by depreciation or asset disposals in later periods.
- Goodwill
- Goodwill consistently accounted for a substantial portion of total assets, generally around 19% to 21%. A slow but steady decrease is evident over the years, declining from about 21.4% in early 2020 to below 19% by mid-2025. This decline may be indicative of goodwill impairments, asset write-downs, or changes in acquisition-related accounting.
- Intangible Assets, Net
- Net intangible assets as a percentage of total assets demonstrated a clear downward trend from approximately 6.4% in early 2020 to just above 3.2% in mid-2025. This steady decline suggests amortization outpacing new acquisitions or impairments reducing the balance of intangible assets over time.
- Deferred Income Taxes
- Deferred income taxes showed variability across the timeline, fluctuating between approximately 4.5% and 8.6%. Notable increases were observed around the end of 2022 and early 2023 with a decline afterward. These changes may be related to timing differences in revenue and expense recognition or tax planning strategies impacting deferred tax assets and liabilities.
- Other Noncurrent Assets
- Other noncurrent assets represented a sizeable part of total assets, remaining generally between 12.7% and 15.1%. A slight upward trend is visible towards the later periods, indicating gradual accumulation or reclassification within this asset category.
- Noncurrent Assets
- Noncurrent assets comprised the majority of total assets, fluctuating near the 57% to 61% range through the periods. Although some dips below 58% are seen, the proportion remains relatively stable, reflecting a consistent asset base in property, intangible assets, and other long-term holdings.
- Total Assets
- Total assets are represented at 100% by definition, and the analysis focuses on the composition changes within this framework as outlined above.