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Every Weapons Contractor Scored: 2026 Defence Ethics Database

weapons contractorsdefence stocksno war no weapons
Mashinii Research ·

No War, No Weapons has a 91% failure rate. Out of 2,440 companies with non-zero scores, 2,225 are negative. Only 215 are positive.

The worst scorers include names you would expect. And names you would not.


The Worst Scores

CompanyTickerScoreSector
Sportsman's WarehouseSportsman's Warehouse Holdings-100Retail
Smith & WessonSmith & Wesson Brands-100Firearms
CACI InternationalCACI-100Defence IT
Northrop GrummanNorthrop Grumman-90Aerospace/Defence
SchlumbergerSchlumberger NV-90Oil Services
Lockheed MartinLockheed Martin-70Aerospace/Defence
RheinmetallRHEINMETALL AG-80Defence
GoogleAlphabet Inc Class A-80Tech
BlackRockBlackRock-80Finance
Goldman SachsGoldman Sachs Group-80Finance
OracleOracle-80Tech
PalantirPalantir Technologies Inc. Class A Common Stock-80Tech
LeidosLeidos Holdings-80Defence IT
Bank of NY MellonThe Bank of New York Mellon-80Finance
HSBCHSBC HOLDINGS-80Finance

Not Just Defence Companies

The traditional defence contractors -- Lockheed, Northrop, Rheinmetall -- are expected. What stands out is the rest.

Google at -80. Project Maven, the Pentagon AI contract, sparked employee protests in 2018. Google said it would not renew the contract. But Google Cloud continues to serve defence and intelligence customers, and the company holds active contracts with the Department of Defense.

BlackRock at -80. The world's largest asset manager is not a weapons company. But BlackRock is one of the largest shareholders in every major defence contractor through its index funds. It also holds significant positions in weapons manufacturers globally. Financing weapons is scored the same as making them.

Goldman Sachs at -80. Investment banking services for defence companies, military bond issuances, and advisory work for arms deals contribute to the score. Banks that underwrite weapons programmes carry the ethical exposure.

HSBC at -80. Similar to Goldman -- documented financing of weapons manufacturers and military-linked transactions.


The Pattern

Weapons scores are not confined to the companies that build missiles. They extend to the companies that fund them, the companies that provide their software, and the companies that manage their investments.

If your fund holds Google, BlackRock, or Goldman Sachs, it holds weapons exposure.

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