Lockheed Martin (LMT) was the largest federal contractor among listed companies in fiscal year 2025, which ran from October 1, 2024 to September 30, 2025, with $74.9 billion in contract obligations [1]. RTX (RTX) followed with $37.4 billion and General Dynamics (GD) with $35.8 billion; together the top three took $148.1 billion, or 44.5% of the $332.9 billion obligated to the 25 companies in the ranking [1]. DataPorium data show that the same 25 companies spent $140.5 million on federal lobbying in calendar 2025 [2].
Which listed companies received the most federal contract money in fiscal 2025?
The table ranks listed companies by federal contract obligations in fiscal year 2025. An obligation is money the government legally commits to pay under a contract; it is counted in the fiscal year in which it is made, and it includes contracts of every size. A company's total includes the units it owns today, such as subsidiaries and the operating companies that run government laboratories. The fiscal 2024 column covers October 2023 to September 2024. Fiscal 2026 ended on September 30, 2026, but the data still mark it as incomplete because defense contracts can be reported up to 90 days late, so those figures are partial [1].
| Rank | Company | FY2025 obligations | FY2024 | Change | FY2026 (partial) | Main agency, FY2025 |
|---|---|---|---|---|---|---|
| 1 | Lockheed Martin (LMT) | $74.9 billion | $50.8 billion | +47.6% | $49.7 billion | Defense |
| 2 | RTX (RTX) | $37.4 billion | $30.4 billion | +23.0% | $33.4 billion | Defense |
| 3 | General Dynamics (GD) | $35.8 billion | $24.8 billion | +44.5% | $26.9 billion | Defense |
| 4 | UnitedHealth Group (UNH) | $22.8 billion | $20.5 billion | +11.5% | $23.1 billion | Not assigned (see text) |
| 5 | Boeing (BA) | $22.7 billion | $24.5 billion | -7.3% | $28.1 billion | Defense |
| 6 | Northrop Grumman (NOC) | $12.9 billion | $17.3 billion | -25.3% | $12.3 billion | Defense |
| 7 | Huntington Ingalls Industries (HII) | $12.9 billion | $12.0 billion | +7.7% | $7.4 billion | Defense |
| 8 | McKesson (MCK) | $12.0 billion | $8.3 billion | +44.2% | $13.6 billion | Veterans Affairs |
| 9 | Honeywell (HON) | $10.3 billion | $9.5 billion | +8.5% | $9.6 billion | Energy |
| 10 | BAE Systems (BAESF) | $8.7 billion | $8.6 billion | +1.6% | $5.4 billion | Defense |
| 11 | Leidos (LDOS) | $8.3 billion | $8.3 billion | -0.1% | $8.4 billion | Defense |
| 12 | L3Harris (LHX) | $7.9 billion | $8.4 billion | -5.2% | $6.7 billion | Defense |
| 13 | Cencora (COR) | $7.4 billion | $6.1 billion | +22.0% | $6.3 billion | Defense |
| 14 | Booz Allen Hamilton (BAH) | $7.3 billion | $7.9 billion | -7.6% | $6.5 billion | Defense |
| 15 | Humana (HUM) | $6.5 billion | $8.0 billion | -18.9% | $5.6 billion | Defense |
| 16 | Fluor (FLR) | $6.5 billion | $6.5 billion | -1.2% | $7.9 billion | Energy |
| 17 | Science Applications International (SAIC) | $5.5 billion | $5.6 billion | -1.3% | $4.2 billion | Defense |
| 18 | AECOM (ACM) | $5.3 billion | $6.6 billion | -20.3% | $4.8 billion | Defense |
| 19 | Amentum (AMTM) | $5.2 billion | $5.8 billion | -9.5% | $4.9 billion | Defense |
| 20 | CACI International (CACI) | $5.1 billion | $4.5 billion | +13.6% | $4.4 billion | Defense |
| 21 | Maximus (MMS) | $3.9 billion | $2.6 billion | +50.8% | $2.9 billion | Veterans Affairs |
| 22 | GE Aerospace (GE) | $3.5 billion | $3.1 billion | +12.3% | $2.7 billion | Defense |
| 23 | V2X (VVX) | $3.3 billion | $3.0 billion | +10.9% | $2.9 billion | Defense |
| 24 | Textron (TXT) | $3.3 billion | $2.2 billion | +52.5% | $2.5 billion | Defense |
| 25 | Accenture (ACN) | $3.2 billion | $3.4 billion | -5.7% | $3.5 billion | Defense |
Source: DataPorium Government Contracts, federal contract obligations by fiscal year, data as of October 10, 2026 [1]. Ranked on unrounded values; changes compare fiscal 2025 with fiscal 2024. Fiscal 2026 is partial.
What stands out in the fiscal 2025 ranking?
Defense dominates the list
The Department of Defense was the main agency for 20 of the 25 companies [1]. The top five defense names alone, Lockheed Martin, RTX, General Dynamics, Boeing and Northrop Grumman, received $183.7 billion in fiscal 2025 [1]. Lockheed Martin's total rose 47.6% from $50.8 billion in fiscal 2024, and General Dynamics' rose 44.5% from $24.8 billion [1].
Health care is the second-largest group
Five health care companies made the top 25: UnitedHealth Group, McKesson, Cencora, Humana and Maximus, with $52.6 billion combined [1]. McKesson and Maximus list Veterans Affairs as their main agency, while Cencora and Humana list Defense [1]. For UnitedHealth Group, the data place 98.6% of its fiscal 2025 total, $22.5 billion, under "Other agencies"; almost all of it came through its unit Optum Public Sector Solutions, whose largest award records in the data are Department of Veterans Affairs managed-care orders, and the data name Veterans Affairs as the company's main agency in fiscal 2026 [1].
Energy Department laboratories
Honeywell and Fluor list the Department of Energy as their main agency [1]. Most of Honeywell's $10.3 billion comes from units that manage government sites: National Technology & Engineering Solutions of Sandia ($5.7 billion in fiscal 2025), Honeywell Federal Manufacturing & Technologies ($2.1 billion) and Mission Support & Test Services ($1.0 billion) [1].
Gainers and decliners
Fourteen of the 25 companies received more in fiscal 2025 than in fiscal 2024 [1]. The largest increases were at Textron (+52.5%), Maximus (+50.8%) and Lockheed Martin (+47.6%). The largest decreases were at Northrop Grumman (-25.3%), AECOM (-20.3%) and Humana (-18.9%) [1]. Across the 25, obligations rose 15.3%, from $288.7 billion to $332.9 billion [1].
How much do the top contractors spend on lobbying?
Lobbying spending comes from the quarterly reports companies and their outside lobbying firms file with Congress. A quarter's figure is the company's own reported lobbying expense when it files a report (which by law includes what it paid outside firms), otherwise the income its outside firms report from it. The figures below are for calendar year 2025, which overlaps fiscal 2025 by nine months, so the two measures are close in time but not the same period [2].
| Company | FY2025 contracts | 2025 lobbying | Lobbying per $1 billion of contracts |
|---|---|---|---|
| Lockheed Martin | $74.9 billion | $15.7 million | $209,000 |
| RTX | $37.4 billion | $14.1 million | $378,000 |
| General Dynamics | $35.8 billion | $13.9 million | $388,000 |
| UnitedHealth Group | $22.8 billion | $12.3 million | $541,000 |
| Boeing | $22.7 billion | $11.4 million | $502,000 |
| Honeywell | $10.3 billion | $10.3 million | $998,000 |
| Northrop Grumman | $12.9 billion | $8.8 million | $676,000 |
| Textron | $3.3 billion | $5.9 million | $1,787,000 |
| HII | $12.9 billion | $4.9 million | $382,000 |
| Leidos | $8.3 billion | $4.9 million | $586,000 |
| Humana | $6.5 billion | $4.5 million | $695,000 |
| BAE Systems | $8.7 billion | $4.5 million | $517,000 |
| GE Aerospace | $3.5 billion | $4.1 million | $1,169,000 |
| Amentum | $5.2 billion | $0.4 million | $76,000 |
| V2X | $3.3 billion | $0.3 million | $82,000 |
Source: DataPorium Corporate Lobbying, 2025 lobbying spending, data as of October 11, 2026 [2]; contracts from DataPorium Government Contracts [1]. Lobbying per $1 billion = 2025 lobbying divided by fiscal 2025 obligations in billions, rounded to the nearest $1,000. The table shows the 13 largest lobbying spenders of the 25 plus the two lowest ratios.
Lockheed Martin spent the most on lobbying of the 25 at $15.7 million, followed by RTX at $14.1 million and General Dynamics at $13.9 million [2]. Relative to contract volume, the ratios range from $76,000 per $1 billion at Amentum to $1.8 million per $1 billion at Textron [1][2]. Among all listed companies, the largest 2025 lobbying spender in the data was Meta Platforms (META) at $26.3 million, which is not a top-25 contractor [2]. The other ten companies in the top 25 reported between $0.7 million (CACI) and $3.9 million (McKesson) [2].
Lockheed Martin received $74.9 billion in federal contract obligations in fiscal 2025, about twice as much as RTX, the second-largest listed contractor.
How we ranked the contractors
- Universe: companies with a stock listing that received federal prime contracts, from official US government contract data. A company includes the units it owns today, with their whole history, even from before it owned them [1].
- Measure: total contract obligations in fiscal year 2025 (October 1, 2024 to September 30, 2025), contracts of every size [1].
- Completeness: the data mark fiscal 2025 as complete and fiscal 2026 as incomplete as of October 10, 2026 [1].
- Exclusion: Resideo Technologies (REZI) appears in the data with $9.1 billion in fiscal 2025, but its units are the same Honeywell units, including the Sandia laboratory operator, that are counted under Honeywell. It is left out to avoid counting the same contracts twice [1].
- Main agency: the agency with the largest share of the company's fiscal 2025 obligations in the data [1].
Obligations are commitments, not payments or revenue, and they can be revised later. Prime contracts are counted; subcontracts are not. The full list, with every company and agency, is on the DataPorium government contracts screener, and lobbying reports by company are on the DataPorium lobbying screener.
Key takeaways
- Lockheed Martin led listed federal contractors in fiscal 2025 with $74.9 billion, up 47.6% from $50.8 billion in fiscal 2024 [1].
- The top three, Lockheed Martin, RTX and General Dynamics, received $148.1 billion, 44.5% of the top 25's $332.9 billion [1].
- Defense was the main agency for 20 of the 25 companies; five health care companies received $52.6 billion [1].
- Obligations to the 25 rose 15.3% from fiscal 2024, with 14 companies up and 11 down [1].
- The 25 companies spent $140.5 million on federal lobbying in 2025, led by Lockheed Martin at $15.7 million [2].
Frequently asked questions
Who is the largest government contractor in 2025?
Among listed companies, Lockheed Martin, with $74.9 billion in federal contract obligations in fiscal year 2025, about twice RTX's $37.4 billion [1].
What is a federal contract obligation?
It is the amount the government legally commits to pay under a contract, counted in the fiscal year the commitment is made. It is not the same as company revenue or cash paid in that year [1].
Which non-defense companies are among the top federal contractors?
UnitedHealth Group ($22.8 billion), McKesson ($12.0 billion), Cencora ($7.4 billion), Humana ($6.5 billion) and Maximus ($3.9 billion) are health care companies in the fiscal 2025 top 25 [1].
How much did Lockheed Martin spend on lobbying in 2025?
Lockheed Martin reported $15.7 million in federal lobbying for 2025, the most of the 25 largest listed contractors, or about $209,000 per $1 billion of fiscal 2025 contract obligations [1][2].