Top U.S. Federal Contractors
Public companies ranked by federal contract obligations in FY2025 — a forward-revenue signal. Coverage is a curated set of the major public federal contractors. From USAspending.gov.
Ranked by FY2025 Obligations
Obligations are summed across each company’s contracting subsidiaries (U.S. contracts only). Source: USAspending.gov (public).
| # | Ticker | Company | FY Obligations | Entities |
|---|---|---|---|---|
| 1 | LMT | Lockheed Martin Corporation | $74.87B | 65 |
| 2 | RTX | RTX Corporation | $29.85B | 52 |
| 3 | UNH | UnitedHealth Group | $25.41B | 18 |
| 4 | GD | General Dynamics Corporation | $23.39B | 51 |
| 5 | BA | The Boeing Company | $22.71B | 56 |
| 6 | MCK | McKesson Corporation | $11.94B | 10 |
| 7 | NOC | Northrop Grumman Corporation | $11.89B | 92 |
| 8 | HII | Huntington Ingalls Industries | $10.93B | 13 |
| 9 | LDOS | Leidos Holdings | $10.61B | 43 |
| 10 | HON | Honeywell International | $9.20B | 52 |
| 11 | LHX | L3Harris Technologies | $7.81B | 84 |
| 12 | BAH | Booz Allen Hamilton | $7.57B | 12 |
| 13 | COR | Cencora | $7.43B | 5 |
| 14 | HUM | Humana Inc | $6.51B | 1 |
| 15 | FLR | Fluor Corporation | $6.47B | 11 |
| 16 | CACI | CACI International | $5.06B | 34 |
| 17 | SAIC | Science Applications International Corporation | $4.76B | 16 |
| 18 | TXT | Textron Inc | $3.44B | 13 |
| 19 | DELL | Dell Technologies | $3.30B | 3 |
| 20 | ACN | Accenture | $3.24B | 2 |
| 21 | PSN | Parsons Corporation | $2.04B | 12 |
| 22 | VVX | V2X Inc | $1.79B | 9 |
| 23 | OSK | Oshkosh Corporation | $1.58B | 8 |
| 24 | IBM | International Business Machines | $1.42B | 12 |
| 25 | VLO | Valero Energy | $1.18B | 1 |
| 26 | PLTR | Palantir Technologies | $1.02B | 2 |
| 27 | J | Jacobs Solutions | $540.5M | 41 |
| 28 | ACM | AECOM | $536.8M | 41 |
| 29 | MSFT | Microsoft Corporation | $534.1M | 3 |
| 30 | LUMN | Lumen Technologies | $533.4M | 16 |
| 31 | CAH | Cardinal Health | $523.4M | 10 |
| 32 | AVAV | AeroVironment | $498.7M | 4 |
| 33 | TDG | TransDigm Group | $424.3M | 45 |
| 34 | CAT | Caterpillar Inc | $424.0M | 3 |
| 35 | AMZN | Amazon.com | $333.1M | 4 |
| 36 | VSAT | Viasat Inc | $279.0M | 4 |
| 37 | CVX | Chevron Corporation | $231.0M | 1 |
| 38 | PH | Parker-Hannifin | $221.8M | 13 |
| 39 | UPS | United Parcel Service | $198.9M | 5 |
| 40 | HPE | Hewlett Packard Enterprise | $125.7M | 4 |
What this measures
Obligations are the dollars the federal government has committed to a contractor under awarded contracts in a fiscal year. In plain English: it's a leading read on a company's government revenue — a defense prime whose obligations are climbing is winning more work. Figures are summed across each company's contracting subsidiaries (e.g. Sikorsky rolls up to Lockheed Martin) for U.S. contracts only (not grants or loans). Coverage is a curated set of major public federal contractors, so a company not listed here may still contract federally at smaller scale. Source: USAspending.gov (public).