What is Lockheed Martin's contract assets?

Lockheed Martin (LMT) reported contract assets of $16.04B in Q2 2026.

How has Lockheed Martin's contract assets changed year-over-year?

Lockheed Martin's contract assets increased by 7.7% year-over-year, from $14.9B to $16.04B.

What is the long-term trend for Lockheed Martin's contract assets?

Over 5 years (2020 to 2025), Lockheed Martin's contract assets has grown at a 6.4% compound annual growth rate (CAGR), from $9.55B to $13B.

What does contract assets mean?

Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.

Lockheed Martin LMT Contract Assets

Contract Assets at other companies

Raytheon TechnologiesRTX

$18.98B+21.0%

L3Harris TechnologiesLHX

$3.53B-3.1%

Northrop GrummanNOC

$7.95B+11.5%

Booz Allen HamiltonBAH

$1.7B+9.0%

Voyager Technologies, Inc.VOYG

$35.8M—

Leidos HoldingsLDOS

——

Segments

By segment

See full

RMS$585M-14.0%

Other financials

Income statement

See full

Revenue$20.1B+10.5%

Gross profit$2.4B+233%

Operating income$2.5B+231%

Net income$1.8B+437%

EPS (diluted)$7.94+444%

Balance sheet

See full

Cash & equivalents$3.8B+193%

Total debt$20.5B-5.1%

Total equity$8.8B+64.4%

Total assets$62.5B+6.1%

Cash flow

See full

Operating cash flow$3.2B+1,509%

CapEx$318.0M-9.4%

Free cash flow$2.9B—

Valuation

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Market cap$134.46B+36.7%

Enterprise value$151.21B+27.4%

P/E21.4×-2.0×

P/S1.8×+0.4×

Profitability

See full

Gross margin11.8%+3.6pp

Operating margin11.9%+3.6pp

Net margin8.2%+2.3pp

FCF margin11.3%+6.5pp

Returns & leverage

See full

Return on equity89.2%+16.1pp

Debt / equity2.3×-1.7×

Current ratio1.2×+0.2×

Where this comes from

Reported directly by Lockheed Martin in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetNetCurrent.

The official record: Lockheed Martin’s 10-Q, filed July 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lockheed Martin's contract assets?: Lockheed Martin (LMT) reported contract assets of $16.04B in Q2 2026.
How has Lockheed Martin's contract assets changed year-over-year?: Lockheed Martin's contract assets increased by 7.7% year-over-year, from $14.9B to $16.04B.
What is the long-term trend for Lockheed Martin's contract assets?: Over 5 years (2020 to 2025), Lockheed Martin's contract assets has grown at a 6.4% compound annual growth rate (CAGR), from $9.55B to $13B.
What does contract assets mean?: Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.