Common-Size Balance Sheet: Assets
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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., common-size consolidated balance sheet: assets
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).
The composition of assets at the company exhibits several notable shifts between 2021 and 2025. Current assets as a percentage of total assets generally increased over the period, while noncurrent assets decreased. Within both current and noncurrent asset categories, specific items experienced varying degrees of change.
- Liquidity and Current Assets
- Cash and cash equivalents decreased significantly from 7.08% of total assets in 2021 to a low of 2.75% in 2023, before recovering to 6.89% in 2025. Receivables, net, showed a modest increase over the five-year period, rising from 3.86% to 6.52%. Contract assets consistently represented a substantial portion of total assets, peaking at 25.13% in 2023 before declining to 21.73% in 2025. Inventories remained relatively stable, fluctuating between 5.84% and 6.25%. Overall, current assets increased from 38.95% to 42.38% of total assets, indicating a growing proportion of short-term assets.
- Long-Term Investments and Intangibles
- Property, plant, and equipment, net, experienced a gradual increase from 14.93% to 15.96% between 2021 and 2023, followed by a slight decrease to 14.83% in 2025. Goodwill decreased steadily from 21.25% in 2021 to 18.91% in 2025, suggesting potential impairment or strategic divestitures. Intangible assets, net, demonstrated a consistent decline, falling from 5.32% to 3.15% over the period. Capitalized software increased notably, rising from 1.53% to 4.04%, potentially reflecting increased investment in technology. Deferred income taxes showed volatility, increasing to 7.08% in 2022 before decreasing to 4.97% in 2025.
- Noncurrent Asset Trends
- Other noncurrent assets decreased from 13.51% in 2021 to 11.71% in 2025. The combined effect of these changes resulted in a decrease in noncurrent assets as a percentage of total assets, moving from 61.05% in 2021 to 57.62% in 2025. This shift, coupled with the increase in current assets, indicates a relative move towards more liquid assets.
The observed trends suggest a potential strategic shift towards shorter-term asset utilization and a reduction in reliance on long-term intangible assets and goodwill. The increase in capitalized software suggests a growing emphasis on internal technological development.