Lockheed Martin
34 named things its latest annual report says its results depend on, each in the company's own words. 28 of them are also named by other companies we've read.
Customers
U.S. Government
earns from · 72% of our total consolidated salesnamed as a riskWe derived 72% of our total consolidated sales from the U.S. Government in 2025, including 63% from the Department of War (DoW), also known as the Department of Defense under 10 U.S.C. § 111(a).Risk factors (Item 1A)
Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more
U.S. Department of Defense (Department of War)
earns from · 63%named as a riskWe derived 72% of our total consolidated sales from the U.S. Government in 2025, including 63% from the Department of War (DoW), also known as the Department of Defense under 10 U.S.C. § 111(a).Risk factors (Item 1A)
Also named by ACN, ALSN, AVAV, CLS, CRWD, FLR, HEI, JCI and 12 more
International customers
earns from · 28% of our total salesnamed as a riskIn 2025, 28% of our total sales were associated with international customers.Risk factors (Item 1A)
Suppliers
Single or sole-source suppliers
depends onnamed as a riskWe also must comply with specific procurement requirements that can limit the number of eligible suppliers, and a significant number of the components or supplies used are currently single or sole sourced.Risk factors (Item 1A)
Also named by HON
Partners and platforms
Competitors
The Boeing Company
competes withThe Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.Business (Item 1)
Northrop Grumman
competes withThe Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.Business (Item 1)
General Dynamics
competes withThe Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.Business (Item 1)
Also named by HII
L3Harris Technologies
competes withThe Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.Business (Item 1)
Also named by MSI
Places
Taiwan
earns fromnamed as a riskChina has placed restrictions on and sanctioned our company and certain executives in connection with foreign military sales by the U.S. Government to Taiwan involving our products and services.Risk factors (Item 1A)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
California
operates innamed as a riskWe have significant operations in geographic areas prone to these risks, such as in California, Florida and Texas, and certain of our properties have suffered damage from natural disasters in the past and may again in the future.Risk factors (Item 1A)
Also named by A, AAON, AFRM, ALK, ALLY, AN, ARE, AVAV and 88 more
Florida
operates innamed as a riskWe have significant operations in geographic areas prone to these risks, such as in California, Florida and Texas, and certain of our properties have suffered damage from natural disasters in the past and may again in the future.Risk factors (Item 1A)
Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more
Texas
operates innamed as a riskWe have significant operations in geographic areas prone to these risks, such as in California, Florida and Texas, and certain of our properties have suffered damage from natural disasters in the past and may again in the future.Risk factors (Item 1A)
Also named by ABR, AFRM, ALLY, AN, ASO, ASTS, ATO, AXP and 70 more
Türkiye
earns fromnamed as a riskFor example, the U.S. Government has imposed certain sanctions on Türkish entities and persons, which has affected our ability to obtain certain U.S. export permits or authorizations necessary to perform under our existing contracts supporting the Türkish Utility Helicopter Program (TUHP), and could impact our work with Türkish industry and our opportunity for sales in Türkiye generally.Risk factors (Item 1A)
Hazards
Earthquakes, fires and extreme weather
operates innamed as a riskFor example, we are limited in the amount of insurance we can obtain to cover unusually hazardous risks or certain natural hazards such as earthquakes, fires or extreme weather conditions, some of which may be exacerbated by climate change.Risk factors (Item 1A)
Commodities and inputs
Semiconductors
depends onnamed as a riskAdvanced microelectronics, including semiconductors, underpin many of our current and future critical technologies and platforms, and global shortages of these products due to increased demand or other supply chain challenges could result in increased procurement lead times and increased costs and potential shortages, which could affect our performance.Risk factors (Item 1A)
Also named by AAPL, AIOT, ARW, AXON, CARR, CAT, CIEN, CSCO and 16 more
Rare earth minerals
depends onnamed as a riskHowever, if we are unable to successfully mitigate disruptions to the availability of rare earth minerals, our future profits, margins and cash flows may be adversely affected.Risk factors (Item 1A)
Also named by ALAB, AMAT, COHR, DE, EXTR, GE, GEHC, GWW and 10 more
Aluminum, titanium, specialty steel and carbon fiber
depends onnamed as a riskOther important materials and components, on which certain of our products rely, include aluminum, titanium, specialty steel, carbon fiber and advanced microelectronics, such as semiconductors.Business (Item 1)
Euro
exposed to its priceOur most significant foreign currency exposures relate to the British pound sterling, the euro, the Canadian dollar, the Australian dollar, the Norwegian kroner and the Polish zloty.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
British pound sterling
exposed to its priceOur most significant foreign currency exposures relate to the British pound sterling, the euro, the Canadian dollar, the Australian dollar, the Norwegian kroner and the Polish zloty.Market risk (Item 7A)
Also named by AMG, BGC, BKNG, CBRE, CTRE, FCFS, FDS, FIS and 31 more
Regulators
Defense Contract Audit Agency
subject tonamed as a riskU.S. Government agencies, including the Defense Contract Audit Agency, the Defense Contract Management Agency and various agency Inspectors General, routinely audit and investigate government contractors.Risk factors (Item 1A)
Also named by ACN, BA, CACI, CDRE, FLR, HII, KTOS, LDOS and 6 more
Laws and programs
F-35 Lightning II program
concentrated in · 27% of our total consolidated salesnamed as a riskThe F-35 program, which consists of multiple development, production and sustainment contracts, is our largest program and represented 27% of our total consolidated sales in 2025.Risk factors (Item 1A)
U.S. tariffs
subject tonamed as a riskCertain materials and component parts that go into making our products are imported into the U.S. and are subject to tariffs, sanctions, embargoes, export and import controls, and other trade restrictions.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Federal Acquisition Regulation (FAR)
subject tonamed as a riskFMS contracts with the U.S. Government are subject to the FAR and the DFARS.Risk factors (Item 1A)
Also named by ACN, AIR, ALSN, ASTS, AXON, BWXT, CACI, CDRE and 12 more
Defense Federal Acquisition Regulation Supplement (DFARS)
subject tonamed as a riskIt is expected that this EO will be implemented this year through a new DFARS clause and the EO’s restrictions will apply only after the DoW determines that a contractor has failed to meet identified contract performance requirements.Risk factors (Item 1A)
Employee Retirement Income Security Act of 1974 (ERISA)
subject tonamed as a riskWe have made substantial cash contributions to our plans as required by the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and in accordance with U.S. Government Cost Accounting Standards (CAS), and expect to make future contributions as required or when deemed prudent.Risk factors (Item 1A)
Foreign Military Sales (FMS) program
subject tonamed as a riskBecause the U.S. Government functions as an intermediary in FMS sales, we are reliant on, and could be adversely impacted by, relations between the U.S. Government and the international customers and the capacity and speed of the DoW’s administration of requests from non-U.S. countries to convert requests to sales.Risk factors (Item 1A)
Also named by TXT
U.S. Congressional appropriations
depends onnamed as a riskOur contracts with the U.S. Government are conditioned upon the continuing availability of Congressional appropriations.Risk factors (Item 1A)
Also named by BWXT
Cost Accounting Standards (CAS)
subject tonamed as a riskHowever, there can be differences between the time when we contribute cash to our plans under pension funding rules and when we recover pension costs under CAS, which can affect the timing of our cash flows.Risk factors (Item 1A)
Also named by TTEK
Executive Order on defense contractor dividends and share repurchases
subject tonamed as a riskIn addition, the President recently issued an EO that could limit certain contractors performing work under critical defense weapons, supplies, and equipment contracts from issuing excessive dividends or owner distributions, making share repurchases, and placing certain restrictions on executive compensation, as well as additional measures.Risk factors (Item 1A)
Offset agreements (industrial cooperation)
subject tonamed as a riskFailure to meet these commitments, which can be subjective and outside of our control, may result in significant penalties, and could lead to a reduction in sales to a country.Risk factors (Item 1A)
Undefinitized contract actions (UCAs)
subject tonamed as a riskThe U.S. Government has the right to unilaterally definitize contracts, which it has exercised in the past and which, absent a successful appeal, obligates us to perform under terms and conditions imposed on us by the U.S. Government and may negatively affect our expected profit and cash flows on a program or impose burdensome terms.Risk factors (Item 1A)