Top Federal Contractors: The FY2025 Ranking by Real Contract Data

The United States federal government obligated $554,248,039,929 to its 1,000 largest contractors in FY2025 — and more than three-fifths of it went through a single department. This guide ranks those 1,000 companies by real contract data from USAspending.gov, with three-year totals, agency, state and industry splits, and the risers and fallers behind the ranking. Every figure is a prime contract obligation summed across each company's parent and child recipient records. FY2025 — October 1, 2024 to September 30, 2025 — is the latest complete fiscal year in this dataset.

The top 25 federal contractors, FY2025

Ranked by each company's total federal contract obligations in FY2025. Click any company for its full profile: yearly trend, agency/state/industry splits and individual awards. The FY2023 and FY2024 columns are the same parent-family totals for those years — read the notes under the table before comparing across years.

Notes: a FY2023 or FY2024 figure of $0 means no obligations were recorded under that company's current parent record in that year — parent records change when companies restructure, so $0 is not proof the company won nothing. A negative figure, such as McKesson's FY2023 total of -$507,314,290, is a real net deobligation: contract reductions exceeded new obligations that year. Top agency is the company's largest awarding agency by FY2025 obligations.

The full ranking — all 1,000 companies, with headquarters state and top agency for each — is on the Top 1,000 Contractors page.

At the top: Lockheed Martin

Lockheed Martin Corp is #1 by a margin of nearly $40 billion over #2 UnitedHealth Group. Its FY2025 total of $64,725,692,748 is more than double its FY2024 total of $31,639,926,821 — a $33.09 billion jump in a single year, the largest dollar gain of any contractor in this ranking.

The shape of Lockheed's business is almost entirely defense: $63,957,621,036 (98.8%) came from the Department of Defense, with NASA a distant second at $682,909,341. By place of performance, Texas accounts for $40,906,882,265 (63.2%) — Fort Worth's F-35 production — followed by Florida and Connecticut. By industry, Aircraft Manufacturing (NAICS 336411) is $39,376,744,424 (60.8%), and by product code, Aircraft, Fixed Wing (PSC 1510) is $31,744,222,583 (49.0%). Its full profile, with all splits and awards, is on the Lockheed Martin Corp page.

Risers and fallers, FY2024 → FY2025

Year-over-year movement is most reliable between FY2024 and FY2025, because both years have recorded totals for nearly every top company. (FY2023 comparisons are weaker: several companies show $0 for FY2023 only because their current parent record did not exist in that form yet — see Methodology.) The same 1,000 companies recorded $402,437,018,094 in FY2024, so the FY2025 total of $554,248,039,929 is 37.7% higher — but that jump is concentrated in a few very large movers, not spread evenly.

Biggest dollar gainers, FY2024 → FY2025

Biggest dollar losers, FY2024 → FY2025

Note: the Science Applications row above is a separate parent record that shares the SAIC legal name — it is not the #22 record on the Science Applications International Corporation page. Links in this guide always go to the exact record.

In percentage terms (among companies with at least $100 million in FY2024, so tiny bases do not dominate), the fastest growers were BCCG A Joint Venture (+989.4%, $287,037,592 → $3,127,100,299, #189 → #28), Fisher Sand & Gravel Co (+669.4%, $120,680,000 → $928,459,404, #409 → #92), Ameresco Inc (+455.3%, $104,144,098 → $578,315,199, #470 → #132) and Dynetics, Inc. (+380.3%, $132,397,565 → $635,938,350, #374 → #120). The steepest percentage falls beyond the dollar table were California Institute of Technology (-92.1%, $918,176,459 → $72,235,503, #77 → #769) and Environmental Chemical Corporation (-90.5%, $631,797,978 → $60,057,966, #103 → #886).

Seventeen companies entered the top 100 in FY2025 and seventeen left it. The most prominent entrants were Amentum Holdings Inc. at #18 ($5,521,509,209), BCCG A Joint Venture at #28, a second BAE Systems PLC parent record at #29 ($3,044,728,103, distinct from the #21 record), Palantir Technologies Inc. at #82 ($1,020,566,209) and Kiewit-Turner A Joint Venture at #96. The biggest names to leave the top 100 were Amentum Services (#20 → #437), the second SAIC record (#25 → #380), United Launch Alliance, L.L.C (#40 → #121) and The MITRE Corporation (#44 → #134). Note the pattern: Amentum Services collapsed in the same year Amentum Holdings entered — large swings here often reflect parent-record and corporate-structure changes in the source data, not a company simply winning or losing work.

Where the money comes from: agencies

Agency totals below are the sums of FY2025 agency splits across the top 1,000. One department dominates everything else combined: the Department of Defense alone accounts for 61.5% of the ranking's total. The next two — Veterans Affairs and Energy — together add barely another fifth.

The civilian side of the ranking is really a health story: VA ($65.64 billion) and HHS ($13.04 billion) together are the community-care, benefits-administration and pharmaceutical business that puts UnitedHealth, TriWest, McKesson, Cencora and Humana in the top 15. Energy ($46.35 billion) is the national laboratory and site-management complex — Triad National Security and Lawrence Livermore National Security are both DOE-first companies in the top 25.

Where the work happens: states

State figures are by place of performance — where the work was performed — not by contractor headquarters. Virginia leads by a wide margin, and the top two states together account for more than $173 billion. State rows are reported for 976 of the 1,000 companies; the remaining 24 have no reported state split.

The District of Columbia appears because place-of-performance rows include it; it is a district, not a state. Connecticut at #4 is the submarine story — Electric Boat's Groton work — while Maryland at #5 reflects the concentration of defense and intelligence work around the capital region.

What the government buys: NAICS and PSC

Two code systems describe what the money buys. NAICS classifies the contractor's industry; PSC classifies the product or service itself. The top five of each, by FY2025 totals across the top 1,000:

Aircraft, ships and managed healthcare dominate both lists — the same three stories (air power, sea power, veterans' healthcare) that dominate the company ranking. Every company profile on this site shows its own top-10 NAICS and PSC splits for FY2025.

How to use this ranking

Start with the full Top 1,000 ranking and click any company for its three-year trend, its agency, state, NAICS and PSC splits, and up to 20 of its individual awards. If you are researching a market — say, who wins VA healthcare work, or which companies build ships — the company profiles are the fastest way to see the competitive set with real numbers attached. The About page explains the full methodology.

Methodology and limits

• Totals are prime contract obligations. Each company's yearly total is the sum of all federal contract obligations across every USAspending recipient record belonging to that company (parent and child records combined), not a single subsidiary's figure.
• Ranked by FY2025. Companies are ordered by their FY2025 total. The federal fiscal year runs October 1 – September 30, so FY2025 covers October 1, 2024 – September 30, 2025. FY2025 is the latest complete fiscal year in this dataset; FY2026 reporting is still incomplete.
• Breakdowns are FY2025 top 10s. The agency, state, NAICS and PSC breakdowns on each profile show that company's ten largest categories in FY2025. The aggregate tables in this guide sum those reported splits across the top 1,000.
• Awards are a selection. Each profile lists up to 20 awards with activity in FY2025, newest start date first. These are individual awards, not company totals. 909 of the 1,000 companies have at least one award listed; 91 have none.
• Negative totals are real. A negative year total means net deobligations: contract reductions exceeded new obligations that year. These figures are shown as recorded rather than hidden.
• $0 years are a record artifact, not a business fact. A $0 total for FY2023 or FY2024 means no obligations were recorded under that company's current parent record in that year. Parent records change when companies restructure, merge or split. That is why the recorded FY2023 total for these same 1,000 companies ($265,264,646,661) understates FY2023 and is not like-for-like with FY2025 — and why this guide's trend story uses FY2024 → FY2025, where both years are recorded for nearly every top company.
• Some legal names appear twice. The source data holds two separate parent records named Science Applications International Corporation, and two named BAE Systems PLC. They are distinct records with different totals and different profile pages; every link in this guide goes to the exact record it describes.
• Why totals differ across sites. Washington Technology's Top 100 covers IT, systems integration and telecom work only; GovTribe's defense ranking uses a trailing-12-month window; other lists use a single recipient record instead of the whole parent family, or an older data vintage. Compare totals only when scope, fiscal year and family definition match.
• State splits are place of performance, not headquarters location. Headquarters, where listed, appears on each company's profile.
• This site is not affiliated with or endorsed by the U.S. government. Company names, headquarters locations and business classifications appear as listed in USAspending records and may be missing for some companies.

Frequently asked questions

Sources

• USAspending.gov — the official source for all contract figures in this guide.
• USAspending Federal Spending Guide — what NAICS and PSC codes mean and how federal spending data is organized.
• About FedTalentUSA — the full methodology behind this ranking.
• Top 1,000 Contractors — the full ranking this guide summarizes.

Published October 27, 2026. Figures reflect FedTalentUSA's FY2025 ranking of the 1,000 largest federal contractors by prime contract obligations from USAspending.gov. Company profiles show FY2023 – FY2025 trends, splits and awards for every company in the ranking.