As of Q4'25, Lockheed Martin (LMT) reported Cash & Short-term Investments of USD 4.1B and Debt of USD 1.2B. This marks a significant increase in cash holdings and a sharp reduction in debt compared to previous quarters. Over the period from Q1'23 to Q4'25, the company's cash position has fluctuated, with notable lows in Q2'25 (USD 1.3B) and highs in Q4'25 (USD 4.1B). Debt levels remained elevated and relatively stable between USD 15.6B and USD 22.2B until Q3'25, followed by a dramatic decline to USD 1.2B in Q4'25. This substantial deleveraging in the latest quarter represents a major shift in LMT's balance sheet structure, indicating a strategic focus on reducing financial liabilities.