- S&P 500 7,659.44 −1.09%
- Dow Jones 52,002.41 −0.34%
- Nasdaq 26,713.03 +0.08%
- VIX 19.99 +21.45%
- 10-year Treasury 5.09% −0.01
- Dollar index 121.40 −0.14%
- WTI crude $101.91 +1.04%
Government money
Where federal money goes to business: the largest contractors and grant recipients by fiscal year from USAspending, and the Paycheck Protection Program's larger loans from the Small Business Administration. Contract data read Oct 20, 2026.
- Contracts to the top 9,530 contractors, FY2026
- $738.4B
- Share that went to the ten largest
- 27%
- Grants to the top 1,052 grant recipients, FY2026
- $1.2T
- PPP loans of $150,000 or more, 968,520 loans
- $513.9B
- Share of those PPP dollars forgiven
- 97%
The largest federal contractors, FY2026
Contract obligations: the money agencies committed to each company in the fiscal year, by USAspending's ranking. Registrations under the same name are added together. Fiscal 2026 ran from October 2025 to September 2026.
| # | Recipient | FY2024 | FY2025 | FY2026 | Change, FY2025 to FY2026 |
|---|---|---|---|---|---|
| 1 | Lockheed Martin Corporation34 registrations; largest: USAspending profile | $45.7B | $69.9B | $50.4B | −28% |
| 2 | The Boeing Company23 registrations; largest: USAspending profile | $23.9B | $22.2B | $28.1B | +26% |
| 3 | Optum Public Sector Solutions, Inc.USAspending profile | $20.1B | $22.5B | $22.5B | +0% |
| 4 | Raytheon Company37 registrations; largest: USAspending profile | $17.5B | $22.6B | $22.3B | −1% |
| 5 | Triwest Healthcare Alliance CorpUSAspending profile | $8.4B | $13.4B | $16.6B | +24% |
| 6 | McKesson Corporation2 registrations; largest: USAspending profile | $9.0B | $11.9B | $13.5B | +13% |
| 7 | Fisher Sand & Gravel CoUSAspending profile | $120.7M | $928.5M | $13.4B | +1338% |
| 8 | Electric Boat CorporationUSAspending profile | $8.6B | $21.4B | $12.9B | −40% |
| 9 | Northrop Grumman Systems Corp50 registrations; largest: USAspending profile | $17.4B | $12.9B | $12.5B | −3% |
| 10 | RTX Corporation2 registrations; largest: USAspending profile | $5.0B | $7.3B | $8.5B | +16% |
| 11 | Huntington Ingalls Incorporated2 registrations; largest: USAspending profile | $7.5B | $8.6B | $7.3B | −14% |
| 12 | Booz Allen Hamilton Inc3 registrations; largest: USAspending profile | $7.9B | $7.3B | $6.5B | −10% |
| 13 | Leidos, Inc.11 registrations; largest: USAspending profile | $7.3B | $7.1B | $6.5B | −7% |
| 14 | AmerisourceBergen Drug CorpUSAspending profile | $6.1B | $7.4B | $6.5B | −13% |
| 15 | Barnard Construction Company, IncorporatedUSAspending profile | $33.4M | $191.8M | $6.1B | +3093% |
| 16 | Humana Government Business IncUSAspending profile | $8.0B | $6.5B | $5.6B | −14% |
| 17 | Triad National Security, LLCUSAspending profile | $5.2B | $5.2B | $5.5B | +6% |
| 18 | National Technology & Engineering Solutions of Sandia, LLCUSAspending profile | $5.0B | $5.7B | $5.4B | −4% |
| 19 | Atlantic Diving Supply, Inc.USAspending profile | $4.8B | $6.0B | $5.0B | −16% |
| 20 | General Dynamics Information Technology, Inc.3 registrations; largest: USAspending profile | $4.9B | $4.8B | $4.9B | +3% |
| 21 | Fluor Marine Propulsion, LLCUSAspending profile | $3.5B | $3.6B | $4.3B | +21% |
| 22 | Science Applications International Corporation7 registrations; largest: USAspending profile | $4.7B | $4.6B | $4.1B | −11% |
| 23 | Lawrence Livermore National Security, LLCUSAspending profile | $3.2B | $3.6B | $3.7B | +3% |
| 24 | Davie Defense Inc.USAspending profile | – | – | $3.5B | – |
| 25 | Accenture Federal Services LLC2 registrations; largest: USAspending profile | $3.4B | $3.2B | $3.5B | +8% |
Source: USAspending.gov, the federal government's record of contracts, grants, loans and other awards, ranked by obligations in each fiscal year (October to September). Read Oct 20, 2026. Company links appear only where the recipient's name matches one SEC-registered company exactly.
Who gained and who lost
Contractors with at least $1 billion in FY2025: the biggest changes in obligations from one fiscal year to the next.
Biggest increases
- Oracle Health Government Services, Inc.+105%$1.0B in FY2025, $2.1B in FY2026
- Dell Federal Systems L.P+80%$1.3B in FY2025, $2.4B in FY2026
- Savannah River Nuclear Solutions LLC+74%$2.0B in FY2025, $3.4B in FY2026
- Bell Textron Inc+39%$1.5B in FY2025, $2.1B in FY2026
- General Atomics Aeronautical Systems, Inc.+37%$1.6B in FY2025, $2.3B in FY2026
- Consolidated Nuclear Security, LLC+32%$2.5B in FY2025, $3.3B in FY2026
- The Boeing Company+26%$22.2B in FY2025, $28.1B in FY2026
- Carahsoft Technology Corp+25%$1.8B in FY2025, $2.3B in FY2026
- Battelle Energy Alliance, LLC+24%$1.9B in FY2025, $2.4B in FY2026
- Triwest Healthcare Alliance Corp+24%$13.4B in FY2025, $16.6B in FY2026
Biggest decreases
- Chemonics International, Inc.−97%$1.2B in FY2025, $31.3M in FY2026
- BCCG a Joint Venture−96%$3.1B in FY2025, $120.4M in FY2026
- Am General LLC−89%$1.2B in FY2025, $133.8M in FY2026
- Textron Systems Corp−81%$1.2B in FY2025, $228.7M in FY2026
- Olin Winchester LLC−79%$1.0B in FY2025, $213.2M in FY2026
- General Dynamics Ordnance and Tactical Systems, Inc.−76%$1.1B in FY2025, $251.9M in FY2026
- Dragados/Hawaiian Dredging/Orion JV−76%$1.5B in FY2025, $353.4M in FY2026
- Dell Marketing L.P.−56%$2.0B in FY2025, $865.2M in FY2026
- Fermi Forward Discovery Group, LLC−55%$1.7B in FY2025, $774.3M in FY2026
- Valero Marketing and Supply Co−55%$1.2B in FY2025, $532.6M in FY2026
Source: USAspending.gov, the federal government's record of contracts, grants, loans and other awards, ranked by obligations in each fiscal year (October to September). Read Oct 20, 2026. Company links appear only where the recipient's name matches one SEC-registered company exactly.
The largest grant recipients, FY2026
Most federal grant money goes to state governments (Medicaid above all), universities and hospitals rather than companies; the ranking shows that plainly.
| # | Recipient | FY2024 | FY2025 | FY2026 | Change, FY2025 to FY2026 |
|---|---|---|---|---|---|
| 1 | Health Care Services, California Department ofUSAspending profile | $100.9B | $112.5B | $117.3B | +4% |
| 2 | NYS Department of HealthUSAspending profile | $72.3B | $76.5B | $75.1B | −2% |
| 3 | Health & Human SVC Commn TXUSAspending profile | $35.0B | $33.8B | $40.1B | +18% |
| 4 | PA Department of Human ServicesUSAspending profile | $30.4B | $32.3B | $35.9B | +11% |
| 5 | North Carolina Department of Health & Human ServicesUSAspending profile | $24.5B | $28.5B | $30.7B | +8% |
| 6 | Ohio Department of MedicaidUSAspending profile | $24.6B | $27.7B | $29.1B | +5% |
| 7 | Florida Agency for Health Care AdministrationUSAspending profile | $21.6B | $22.8B | $27.9B | +22% |
| 8 | Illinois Department of Healthcare & Family ServicesUSAspending profile | $20.6B | $21.8B | $25.4B | +17% |
| 9 | Michigan Department of Health and Human ServicesUSAspending profile | $21.6B | $21.7B | $24.8B | +15% |
| 10 | Department of Social & Health ServicesUSAspending profile | $12.4B | $14.0B | $21.1B | +51% |
| 11 | Human Services, New Jersey Department ofUSAspending profile | $16.0B | $18.4B | $20.6B | +12% |
| 12 | Health Services Kentucky Cabinet forUSAspending profile | $16.0B | $17.1B | $19.3B | +13% |
| 13 | Arizona Health Care Cost Containment SystemUSAspending profile | $15.8B | $16.4B | $18.9B | +16% |
| 14 | The Commonwealth of Massachusetts4 registrations; largest: USAspending profile | $15.6B | $16.8B | $17.0B | +1% |
| 15 | VA Department of Medical Assistance ServiceUSAspending profile | $14.8B | $17.2B | $16.8B | −2% |
Source: USAspending.gov, the federal government's record of contracts, grants, loans and other awards, ranked by obligations in each fiscal year (October to September). Read Oct 20, 2026. Company links appear only where the recipient's name matches one SEC-registered company exactly.
Single awards, agencies and states
Which agency paid, for what, and where the work happens.
We have not collected individual awards, agencies or recipient addresses yet, so this site cannot yet rank the largest single contracts, contractors by agency or recipients by state. USAspending's own award search and agency profiles have them in full.
Paycheck Protection Program
The Paycheck Protection Program lent to businesses in 2020 and 2021 to keep workers on the payroll; a loan was forgiven, in full or in part, when the money went to payroll, rent and utilities.
- Loans of $150,000 or more
- 968,520
- Lent
- $513.9B
- Forgiven
- $499.2B
- Jobs the borrowers reported
- 50,249,235
- Loans charged off (not repaid)
- 17,105
The largest loans
| Borrower | Industry | Lender | Approved | Jobs | Loan | Forgiven |
|---|---|---|---|---|---|---|
| Duffy's Holdings, Inc.Lake Worth, FL | Accommodation and food services | Citizens Bank, National Association | Apr 15, 2020 | 500 | $10.00M | $10.17M |
| Metaltek International, IncWaukesha, WI | Manufacturing | JPMorgan Chase Bank, National Association | Apr 9, 2020 | 500 | $10.00M | $10.12M |
| Feyen-Zylstra LLCGrand Rapids, MI | Construction | The Huntington National Bank | Apr 28, 2020 | 500 | $10.00M | $10.11M |
| I Am BoundlessWorthington, OH | Health care and social assistance | The Huntington National Bank | Mar 26, 2021 | 500 | $10.00M | $10.06M |
| Southern California Pizza CompanyOrange, CA | Accommodation and food services | Regions Bank | Apr 9, 2020 | 500 | $10.00M | – |
| Crain Communications Inc.Detroit, MI | Information | JPMorgan Chase Bank, National Association | Apr 9, 2020 | 500 | $10.00M | $10.14M |
| Aspire of Western New York Inc.Getzville, NY | Health care and social assistance | KeyBank National Association | Mar 26, 2021 | 500 | $10.00M | $10.10M |
| Rubio's Restaurants, Inc.Carlsbad, CA | Accommodation and food services | Sunwest Bank | Apr 9, 2020 | 500 | $10.00M | $10.12M |
| Zeeco, IncBroken Arrow, OK | Manufacturing | Arvest Bank | Apr 9, 2020 | 500 | $10.00M | $10.12M |
| Erie County Medical Center CorporationBuffalo, NY | Health care and social assistance | KeyBank National Association | Jun 9, 2020 | 500 | $10.00M | $10.11M |
Most borrowed, by state
- California$69.4B130,611 loans
- New York$42.0B74,106 loans
- Texas$40.2B76,193 loans
- Florida$28.2B60,031 loans
- Illinois$23.2B40,814 loans
- Pennsylvania$21.4B38,536 loans
- Ohio$18.6B32,645 loans
- New Jersey$17.4B32,536 loans
- Michigan$16.4B29,802 loans
- Massachusetts$14.9B27,474 loans
- Georgia$13.1B25,834 loans
- Washington$12.7B23,754 loans
Source: the Small Business Administration's PPP loan data, loans of $150,000 or more. Read Oct 20, 2026; the latest forgiveness in the file is dated Sep 30, 2024.