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)

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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 6.89 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 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 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 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 1.36 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 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 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 18.91 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 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 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 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 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%

Based on: 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 composition of assets for the analyzed entity exhibits several notable trends over the period from March 2021 to December 2025. Current assets, representing approximately 39-43% of total assets, demonstrate cyclical fluctuations. Noncurrent assets consistently comprise the majority of the asset base, ranging between 57% and 61%. Within these broad categories, specific asset components show distinct patterns.

Cash and Cash Equivalents
Cash and cash equivalents as a percentage of total assets experienced an initial increase from 5.70% in March 2021 to a peak of 7.08% in December 2021. Subsequently, a decline was observed, reaching a low of 2.20% in June 2025, before recovering to 6.89% in December 2025. This suggests potential shifts in liquidity management or investment strategies.
Receivables, Net
Receivables, net, displayed an increasing trend from 4.30% in March 2021 to a high of 6.57% in June 2022. Following this peak, the percentage decreased to 4.06% in December 2022, then increased again, reaching 6.52% in December 2025. This pattern could indicate variations in sales terms or collection efficiency.
Contract Assets
Contract assets consistently represent a significant portion of total assets, generally between 20% and 26%. The percentage peaked at 24.49% in September 2021 and experienced a decline to 21.73% in December 2023, before rising to 23.14% in September 2025. This suggests fluctuations in the level of unbilled work or revenue recognized under contract.
Inventories
Inventories remained relatively stable as a percentage of total assets, fluctuating between approximately 5.6% and 6.6%. A slight upward trend is observable towards the end of the period, increasing from 5.89% in December 2023 to 6.28% in June 2025. This could reflect changes in production levels or inventory management practices.
Goodwill and Intangible Assets
Goodwill and intangible assets collectively represent a substantial portion of the noncurrent asset base. Goodwill decreased from 20.99% in March 2021 to 18.77% in September 2025, while intangible assets decreased from 5.70% to 3.15% over the same period. This suggests potential impairment or amortization of these assets.
Deferred Income Taxes and Other Noncurrent Assets
Deferred income taxes exhibited a notable increase from 6.56% in March 2021 to 8.60% in September 2023, before decreasing to 4.97% in December 2025. Other noncurrent assets showed a similar pattern, increasing from 13.35% to 15.75% and then decreasing to 15.75% in December 2025. These fluctuations may be related to changes in tax regulations or long-term investment strategies.

Overall, the asset composition demonstrates a dynamic interplay between current and noncurrent assets, with specific components exhibiting cyclical or gradual trends. The observed changes warrant further investigation to understand the underlying business drivers and their potential impact on the entity's financial performance and position.