Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Lockheed Martin Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Total assets exhibited a general upward trend over the five-year period, increasing from US$50,873 million in 2021 to US$59,840 million in 2025. However, this growth was not consistent year-over-year, with a slight decrease observed between 2022 and 2023.
- Current Assets
- Current assets demonstrated an overall increase, rising from US$19,815 million in 2021 to US$25,362 million in 2025. The most significant component of current assets, contract assets, consistently represented a substantial portion and increased from US$10,579 million to US$13,001 million over the period. Receivables, net, also showed an upward trend, particularly between 2024 and 2025, increasing from US$2,351 million to US$3,901 million. Cash and cash equivalents experienced volatility, decreasing significantly from 2021 to 2023 before recovering and reaching US$4,121 million in 2025. Inventories remained relatively stable, with a modest increase from US$2,981 million to US$3,524 million.
- Noncurrent Assets
- Noncurrent assets also increased over the period, moving from US$31,058 million in 2021 to US$34,478 million in 2025. Property, plant, and equipment, net, showed consistent growth, increasing from US$7,597 million to US$8,875 million. Goodwill remained relatively stable for the first three years, then increased from US$10,799 million in 2023 to US$11,314 million in 2025. Intangible assets, net, experienced a consistent decline, decreasing from US$2,706 million to US$1,887 million. Capitalized software demonstrated substantial growth, more than tripling from US$777 million in 2021 to US$2,417 million in 2025. Deferred income taxes fluctuated, peaking at US$3,744 million in 2022 before decreasing to US$2,975 million in 2025. Other noncurrent assets also showed an increasing trend.
The composition of assets shifted slightly over the period. While contract assets and property, plant, and equipment remained dominant, the growth in capitalized software is notable. The decrease in intangible assets warrants further investigation, while the fluctuations in cash and cash equivalents suggest potential changes in liquidity management or investment strategies.