Balance Sheet: Assets
Quarterly Data
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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Lockheed Martin Corp. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Price to Sales (P/S) since 2005
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Lockheed Martin Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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).
Total assets exhibit a general upward trajectory over the analyzed period, growing from 51,437 million US dollars in March 2021 to 59,238 million US dollars by March 2026. This growth is characterized by a steady expansion in both current and noncurrent asset bases, with total assets peaking at 60,276 million US dollars in September 2025 before a slight correction in the subsequent quarters.
- Current Asset Trends
- Current assets increased from 20,252 million US dollars to 25,080 million US dollars. The primary driver of this growth is the expansion of contract assets, which rose from 10,908 million US dollars in March 2021 to a peak of 15,885 million US dollars in March 2026. This indicates a substantial increase in work performed but not yet billed. Cash and cash equivalents demonstrate significant volatility, fluctuating between a low of 1,293 million US dollars in June 2025 and a high of 4,121 million US dollars in December 2025, suggesting cyclical liquidity movements. Inventories showed a gradual increase, ending the period at 4,251 million US dollars, reflecting a growth of approximately 30% from the start of the period.
- Noncurrent Asset Analysis
- Noncurrent assets grew from 31,185 million US dollars to 34,158 million US dollars. A notable trend is the steady decline of net intangible assets, which decreased from 2,930 million US dollars to 1,837 million US dollars, consistent with standard amortization patterns. Property, plant, and equipment (PPE) remained relatively stable until a sharp increase was recorded in the final quarter, jumping to 11,283 million US dollars in March 2026 from 8,875 million US dollars in December 2025, suggesting a major capital investment. Goodwill remained largely stagnant, hovering around 10,800 million US dollars for several years before settling at 11,306 million US dollars in the final period.
- Deferred Taxes and Other Assets
- Deferred income taxes exhibited significant fluctuations, peaking at 4,873 million US dollars in September 2023 before declining to 2,802 million US dollars by March 2026. Other noncurrent assets showed a general increase from 6,868 million US dollars to 9,427 million US dollars by September 2025, followed by a sharp reduction to 6,930 million US dollars in March 2026, mirroring the timeline of the increase in PPE.
The overall asset structure reveals a shift toward higher liquidity in the form of contract assets and a late-period intensification of fixed asset investment. While the balance sheet has expanded, the volatility in cash and the decline in intangibles suggest a dynamic operational environment with a focus on long-term contract execution and strategic capital expenditure.