Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Lockheed Martin Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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).
The financial data over the periods indicates several key trends in asset composition and relative changes within the company's balance sheet structure.
- Cash and Cash Equivalents
- This category shows fluctuations, peaking notably at 7.08% of total assets at the end of 2020 and again rising above 6% in mid-2023. However, there is a decline toward the end of 2023 into early 2025, reaching a low of 2.75% at the end of 2023 and 3.18% by March 2025, indicating a reduced liquidity position relative to total assets in the later periods.
- Receivables, Net
- Receivables as a percentage of total assets experienced moderate volatility, generally oscillating between 3.5% and 6%. Higher levels occur sporadically, such as in the middle of 2022 and mid-2023, suggesting variability in the amounts billed but not yet collected. The trend does not indicate any sustained increase or decrease but reflects periodic fluctuations.
- Contract Assets
- Contract assets consistently represent a significant portion of total assets, generally around 20-25%, with a clear upward trend over the years. Notably, the proportion peaks at 25.9% by the end of the quarter in March 2025. This increase suggests growth in unbilled revenues or work-in-progress related to contracts, emphasizing a strong ongoing contract backlog or increasing contract-related activity.
- Inventories
- The inventory level as a percentage of total assets remains relatively stable, mostly between 5.6% and 7.2%, showing no major directional trend. Slight dips and rises occur, indicating consistency in inventory management relative to asset size over the examined periods.
- Other Current Assets
- This component fluctuates narrowly around 0.8% to 2.3%, with a general decline observed after 2020, dipping below 1% in several quarters, before a mild uptick near the end of 2024 and into 2025. This might point to certain minor current asset categories becoming less material or being optimized.
- Current Assets
- The proportion of current assets to total assets remains mostly stable, within a range from approximately 38% to 42%. There is a minor peak above 42% during mid-2023, reflecting a brief increase in liquidity and short-term asset holdings, followed by a slight reduction in subsequent periods.
- Property, Plant, and Equipment, Net
- This category shows a gradual increase from about 13.4% of total assets in early 2020 to a peak of 15.96% at the end of 2023, indicating ongoing investment in fixed assets. The figure slightly declines thereafter but remains above 15% through early 2025, suggesting sustained capital investment and asset base expansion.
- Goodwill
- Goodwill remains substantial, around 19.5% to 21.5% of total assets, with a gentle declining trend from about 21.45% at the beginning of the period to approximately 19.55% by March 2025. This very slight reduction may result from amortization or impairment activities but overall indicates that goodwill continues to represent a significant intangible asset portion.
- Intangible Assets, Net
- A marked decreasing trend is evident here, from 6.38% early in 2020 to approximately 3.44% by March 2025. This steady decline reflects ongoing amortization of intangible assets, with no offsetting increases, possibly indicating limited new intangible asset acquisitions or capitalizations.
- Deferred Income Taxes
- This item varies between about 4.5% to 8.6%, with a peak near the end of 2022 followed by a decline into mid-2024, and a slight rebound thereafter. The fluctuations may relate to changes in tax positions or timing differences affecting asset recognition.
- Other Noncurrent Assets
- These assets show relative stability between about 12.7% and 15.1%, indicating a steady presence of additional noncurrent asset items. A small increase toward the end of the period suggests modest growth or reclassification in this category.
- Noncurrent Assets
- The overall share of noncurrent assets remains close to 60% of total assets, with minor variation. This stable proportion underscores a balanced asset structure weighted more heavily toward longer-term investments and fixed assets throughout the periods analyzed.
- Total Assets
- Total assets are consistently normalized to 100%, serving as the basis for all relative valuations.
In summary, the data reveals a financial structure with a strong emphasis on contract assets and noncurrent assets, sustained investment in property, plant, and equipment, and a gradual reduction in intangible asset values. The liquidity measured by cash and equivalents shows episodic variability with recent declines, while current assets maintain a relatively steady share. Overall, the observed patterns suggest a focus on long-term asset growth with fluctuating short-term liquidity and strong contract backlog presence.