Category 06
Defense contractors
Public contractors with direct and material revenue from military systems, defense technology, shipbuilding, or defense services.
Classification and underwriting
- Category definition
- Public contractors with direct and material revenue from military systems, defense technology, shipbuilding, or defense services.
- Inclusion rules
- defense contractors
- military systems
- defense services
- Exclusion rules
- dual-use tech without material defense exposure
- Value-chain roles
- prime contractor
- platform manufacturer
- systems supplier
- defense service provider
- Exposure measurement
- Defense revenue share, funded and unfunded backlog, program mix, contract type, and customer concentration.
- Core operating signals
- book-to-bill
- funded backlog
- unfunded backlog
- contract awards
- program margin
- cash conversion
- Underwriting variables
- budget priorities
- program concentration
- fixed-price exposure
- supply chain
- security requirements
- Failure conditions
- program cancellation
- cost overrun
- budget reversal
- contract loss
- execution failure
- Monitoring triggers
- appropriations
- award announcements
- backlog revisions
- program charges
- customer concentration
- Portfolio use
- Long-cycle backlog exposure assessed against procurement, execution, and government-customer concentration.
Defense contractors company research
Latest annual filing available through SEC EDGAR. Fiscal periods and currencies remain separate.
| Company | Revenue | Operating margin | Net margin | Operating cash flow | Assets | Liabilities | Annual filing |
|---|---|---|---|---|---|---|---|
| LMT · LOCKHEED MARTIN CORP | USD 75 B | 10.3% | 6.7% | USD 8.6 B | USD 59.8 B | USD 53.1 B | 10-K · 2025-12-31 |
| NOC · NORTHROP GRUMMAN CORP /DE/ | USD 42 B | 10.8% | 10% | USD 4.8 B | USD 51.4 B | USD 34.7 B | 10-K · 2025-12-31 |
| GD · GENERAL DYNAMICS CORP | USD 52.5 B | 10.2% | 8% | USD 5.1 B | USD 57.2 B | USD 31.6 B | 10-K · 2025-12-31 |
| HII · HUNTINGTON INGALLS INDUSTRIES, INC. | USD 12.5 B | 5.3% | 4.8% | USD 1.2 B | USD 12.7 B | USD 7.7 B | 10-K · 2025-12-31 |
| LHX · L3HARRIS TECHNOLOGIES, INC. /DE/ | USD 21.9 B | 9.7% | 7.3% | USD 3.1 B | USD 41.2 B | USD 21.6 B | 10-K · 2026-01-02 |
Research coverage only. No row identifies a holding, ranking, recommendation, target price, or performance result.