Shipbuilding · HII
Huntington Ingalls (HII) gets 99.9% of its revenue from the U.S. government
What Huntington Ingalls reports in its FY2025 10-K, and what federal contract records show.
Summary
Huntington Ingalls is as close to a pure government company as public markets offer. Federal customers accounted for 99.9% of its $12.5B in FY2025 revenue, according to the customer table in its 10-K. The 10-K describes the company as depending on the U.S. government "for substantially all of our business."
The Navy awarded 84.4% of the $11.0B in prime contract obligations we matched to HII in federal fiscal year 2025. Its two shipyards each anchor a program: Newport News builds aircraft carriers (engineering and steel for CVN 80, N0002416C2116, $13.4B obligated to date) and Ingalls builds destroyers (the FY23-27 DDG 51 construction contract, N0002423C2307, $8.32B). Matched obligations came to 0.88 times reported revenue, a reasonable match for a business where ship contracts are funded in increments over many years.
With nearly all revenue from one customer, HII's results move with Navy shipbuilding budgets and the timing of appropriations more directly than any other company we track. Its share in the Savannah River Nuclear Solutions joint venture is listed below and kept out of the totals.
Share of revenue over time
Huntington Ingalls: U.S. government share of revenue, by fiscal year
What Huntington Ingalls counts as government revenue
- Definition used
- Federal customers line; 10-K says "substantially all"
- Foreign military sales
- The filing does not say
- Subcontract work
- Not stated
- Adjusted ex-FMS share
- Not available: the figure includes FMS but the company does not disclose the amount
“Federal | $3,066 | $6,505 | $2,899 | $ | — | $12,470”
Huntington Ingalls, FY2025 Form 10-K · read the filing
Verified 2026-10-16 against the sec.gov 10-K customer-type table: Federal $12,470M of $12,484M.
The contract record
Prime contract obligations on USAspending.gov for the 12 recipient records we matched to Huntington Ingalls (obligations are not revenue).
In FFY2025, 92.1% of these obligations came from the Department of Defense and 7.9% from civilian agencies.
Contract obligations by awarding agency, FFY2025
Top 8 awarding sub-agencies; the rest grouped as Other.
| Awarding agency | Obligations | Share |
|---|---|---|
| Department of the Navy | $9.48B | 84.4% |
| Federal Acquisition Service | $879M | 7.8% |
| Department of the Air Force | $800M | 7.1% |
| Department of the Army | $43.1M | 0.4% |
| Defense Counterintelligence and Security Agency | $13.1M | 0.1% |
| Defense Threat Reduction Agency | $4.9M | 0% |
| Washington Headquarters Services | $4.1M | 0% |
| Missile Defense Agency | $2.9M | 0% |
| Other | $3.1M | 0% |
Obligations by federal fiscal year
| Federal fiscal year | Obligations | Note |
|---|---|---|
| FFY2026 | $9.47B | preliminary DoD data posts with a 90-day delay |
| FFY2025 | $11.0B | Matched to FY2025 |
| FFY2024 | $9.97B | |
| FFY2023 | $11.6B | |
| FFY2022 | $6.38B | |
| FFY2021 | $7.29B |
Largest contracts active in FFY2025
Ranked by total obligated value to date on each award (all years), among awards with activity in FFY2025. Links open the award on USAspending.gov.
| Award | Agency | Description | Obligated to date | Period |
|---|---|---|---|---|
| N0002416C2116Huntington Ingalls Inc | Department of the Navy | CVN 80 ENGINEERING EFFORTS AND STEEL | $13.4B | 2016–2036 |
| N0002423C2307Huntington Ingalls Incorporated | Department of the Navy | CONSTRUCTION OF DDG 51 SHIPS FY23-27 | $8.32B | 2023–2034 |
| N0002418C2307Huntington Ingalls Incorporated | Department of the Navy | FY18-FY22 DDG 51 CLASS SHIP CONSTRUCTION | $6.96B | 2018–2032 |
| N0002408C2110Huntington Ingalls Inc | Department of the Navy | CVN 78 SHIP CONSTRUCTION | $6.65B | 2008–2022 |
| N0002418C2406Huntington Ingalls Incorporated | Department of the Navy | LPD 30 LLTM | $4.73B | 2018–2031 |
| N0002415C2114Huntington Ingalls Inc | Department of the Navy | DETAIL DESIGN AND CONSTRUCTION CVN 79 | $4.58B | 2015–2025 |
| N0002498C2104Huntington Ingalls Inc | Department of the Navy | No description on file | $4.56B | 1999–2023 |
| N0002409C2116Huntington Ingalls Inc | Department of the Navy | CVN79 CONSTRUCTION PREPARATION EFFORTS FY09 | $4.52B | 2009–2025 |
| N0002421C2106Huntington Ingalls Inc | Department of the Navy | FY21 RCOH ACCOMPLISHMENT | $3.76B | 2021–2026 |
| N0002416C2427Huntington Ingalls Incorporated | Department of the Navy | DETAIL DESIGN AND CONSTRUCTION (DD&C) FOR LHA 8 (INITIAL EFFORT LIMITED TO PLANNING, ADVANCED ENGINEERING AND PROCUREMENT OF LONG LEAD TIME… | $3.37B | 2016–2026 |
Recipients we matched to Huntington Ingalls
These USAspending recipient records are rolled into the figures above. Readers can check each one; if a match looks wrong, tell us.
| Recipient name | UEI | How matched | FFY2025 obligations |
|---|---|---|---|
| HUNTINGTON INGALLS INCORPORATED | C3NLZNSMU254 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $4.37B |
| HUNTINGTON INGALLS INC | WMXDDH6HJNA5 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $4.20B |
| HII MISSION TECHNOLOGIES CORP | G5H7HWC4L2R5 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $1.16B |
| HII MISSION TECHNOLOGIES CORP | GS7HBMNZEMK3 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $631M |
| HII MISSION TECHNOLOGIES CORP | HHT6NC9UT8Z5 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | — |
| HII FLEET SUPPORT GROUP LLC | VGCPT3NSM831 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $205M |
| CONTINENTAL MARITIME OF SAN DIEGO, LLC | EG1ZHLSHZW14 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $162M |
| ENLIGHTEN IT CONSULTING LLC | R1V7DQ3VKQP5 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $123M |
| HII TECHNICAL SOLUTIONS CORPORATION | C17YSNK69P77 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | $73.1M |
| HII SAN DIEGO SHIPYARD INC. | W482TC15KEN6 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | — |
| HII UNMANNED SYSTEMS, INC | WN18KN7KQLG9 | Name pattern | $52.8M |
| HII MISSION TECHNOLOGIES CORP | Z6USGD96KM25 | USAspending parentHUNTINGTON INGALLS INDUSTRIES, INC | — |
Joint ventures (not included in totals)
- Savannah River Nuclear Solutions, with Fluor. Joint ventures are not split between partners.
Peers
| Company | Sector | U.S. gov share | Total revenue |
|---|---|---|---|
| HIIHuntington Ingalls | Shipbuilding | 99.9% | $12.5B |
| JJacobs Solutions | Engineering other sector, similar size | 8% | $12.0B |
| BAHBooz Allen Hamilton | Government services other sector, similar size | not disclosed | $11.2B |
| AMTMAmentum | Government services other sector, similar size | 81% | $14.4B |
| OSKOshkosh | Defense tech other sector, similar size | 20% | $10.4B |
| TXTTextron | Aerospace other sector, similar size | 27% | $14.8B |
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Sources
- Huntington Ingalls, FY2025 annual report (U.S. government share) (accessed October 15, 2026)
- Huntington Ingalls, FY2024 annual report (U.S. government share) (accessed October 16, 2026)
- Huntington Ingalls, FY2023 annual report (U.S. government share) (accessed October 16, 2026)
- Huntington Ingalls, FY2022 annual report (U.S. government share) (accessed October 16, 2026)
- Huntington Ingalls, FY2021 annual report (U.S. government share) (accessed October 16, 2026)
- SEC XBRL company facts for Huntington Ingalls (revenue history) (accessed October 16, 2026)
- USAspending.gov recipient profile: Huntington Ingalls Incorporated (accessed October 16, 2026)
- USAspending.gov API, prime contract awards (award types A–D) (accessed October 16, 2026)
- Federal Exposure methodology