Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Common-Size Balance Sheet: Assets
Quarterly Data

Lockheed Martin Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 28, 2026 Mar 29, 2026 Dec 31, 2025 Sep 28, 2025 Jun 29, 2025 Mar 30, 2025 Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021
Cash and cash equivalents 6.07 3.20 6.89 5.76 2.20 3.18 4.46 5.68 4.58 5.08 2.75 6.27 6.45 4.47 4.82 4.67 3.43 3.66 7.08 5.26 5.27 5.70
Receivables, net 5.37 3.92 6.52 6.38 5.62 3.57 4.23 3.86 5.32 4.11 4.06 4.24 6.01 4.73 4.74 4.77 6.57 4.91 3.86 4.37 5.01 4.30
Contract assets 25.68 26.82 21.73 23.14 25.30 25.90 23.30 25.62 25.25 25.56 25.13 24.01 22.83 24.15 23.29 23.70 22.71 23.55 20.79 24.49 21.93 21.21
Inventories 7.06 7.18 5.89 6.22 6.28 6.35 6.25 5.82 5.62 5.96 5.97 5.84 6.14 6.35 5.84 5.98 6.63 6.10 5.86 5.60 5.99 6.33
Other current assets 1.29 1.23 1.36 1.53 1.35 1.23 1.05 0.83 0.93 1.06 1.20 0.79 0.84 0.84 1.01 1.15 1.18 1.37 1.35 1.47 1.49 1.83
Current assets 45.48% 42.34% 42.38% 43.03% 40.75% 40.24% 39.28% 41.81% 41.70% 41.77% 39.12% 41.16% 42.27% 40.54% 39.70% 40.28% 40.52% 39.58% 38.95% 41.20% 39.68% 39.37%
Property, plant and equipment, net 18.24 19.05 14.83 14.47 14.73 15.38 15.69 15.23 15.24 15.20 15.96 14.20 13.98 14.53 15.08 14.66 14.62 14.68 14.93 14.14 13.99 14.02
Goodwill 18.09 19.09 18.91 18.77 19.21 19.55 19.90 19.45 19.59 19.63 20.59 19.03 18.95 19.73 20.39 20.69 20.85 20.99 21.25 20.86 20.75 20.99
Intangible assets, net 2.86 3.10 3.15 3.22 3.42 3.44 3.62 3.56 3.70 3.91 4.22 4.01 4.10 4.39 4.65 4.85 4.99 5.13 5.32 5.34 5.47 5.70
Deferred income taxes 3.87 4.73 4.97 5.66 6.91 6.30 6.40 5.59 5.59 5.50 5.63 8.60 7.93 7.64 7.08 5.99 5.18 5.22 4.50 5.14 6.48 6.56
Other noncurrent assets 11.47 11.70 15.75 14.85 14.98 15.10 15.11 14.36 14.18 13.99 14.49 13.00 12.77 13.17 13.11 13.53 13.83 14.40 15.04 13.32 13.63 13.35
Noncurrent assets 54.52% 57.66% 57.62% 56.97% 59.25% 59.76% 60.72% 58.19% 58.30% 58.23% 60.88% 58.84% 57.73% 59.46% 60.30% 59.72% 59.48% 60.42% 61.05% 58.80% 60.32% 60.63%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-31), 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).

The asset composition of the organization exhibits a gradual shift toward a higher concentration of current assets, particularly driven by an increase in contract assets. Over the analyzed period, current assets as a percentage of total assets rose from 39.37% in March 2021 to 45.48% by June 2026, indicating a growing proportion of short-term operational receivables and work-in-progress.

Current Asset Dynamics
Contract assets represent the most significant component of current assets, showing a general upward trajectory from 21.21% in early 2021 to a peak of 26.82% in March 2026. This suggests an increase in revenue recognized for work performed but not yet billed. Cash and cash equivalents exhibit volatility, fluctuating between a low of 2.20% and a high of 7.08%, without a definitive long-term trend. Inventories have remained relatively stable, generally oscillating between 5.6% and 7.2%, though a slight increase is observed in the final two quarters of the period.
Noncurrent Asset Evolution
Noncurrent assets as a percentage of total assets decreased from 60.63% in March 2021 to 54.52% by June 2026. This contraction is primarily attributed to the steady decline of intangible assets, which fell from 5.70% to 2.86%, likely reflecting scheduled amortization. Similarly, goodwill saw a gradual reduction from 20.99% to 18.09% over the period. Conversely, property, plant, and equipment (PP&E) remained stable around 14-15% for several years before increasing significantly to 18.24% by June 2026, suggesting recent capital investments in long-term infrastructure.
Tax and Other Asset Trends
Deferred income taxes showed a fluctuating pattern, peaking at 8.60% in September 2023 before declining to 3.87% by June 2026. Other noncurrent assets remained relatively consistent, averaging between 11% and 15% of the total asset base, although a decline is noted in the final quarters of the observation window.

Overall, the financial structure demonstrates a migration of value from intangible and deferred tax assets toward tangible fixed assets and operational contract assets. This transition indicates a shift in the balance sheet composition toward more operational and physical asset bases while reducing the relative weight of acquired intangibles.

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