Lockheed Martin Corp (LMT)

Lockheed Martin Corporation, an aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services in the United States, Europe, Asia, the Middle East, and internationally. The company operates through four segments: Aeronautics; Missiles and Fire Control (MFC); Rotary and Mission Systems (RMS); and Space. The Aeronautics segment offers combat and air mobility aircraft, unmanned air vehicles, and related technologies. The MFC segment provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support, and integration services; and ground vehicles. The RMS segment offers military and commercial helicopters, surface ships, sea- and land-based missile defense systems, radar and laser systems, sea- and air-based mission and combat systems, command and control mission solutions, cyber solutions, simulation and training solutions, and services and support for surface ships. The Space segment provides satellites; space transportation systems; strategic, advanced strike, and defensive systems; and classified systems and services in support of national security systems. This segment also provides network-enabled situational awareness; and integrates space and ground global systems to help its customers gather, analyze, and securely distribute critical intelligence data. It primarily serves the U.S. government and international customers, as well as foreign military sales contracted through the U.S. government. The company was formerly known as The Lockheed Corporation and changed its name to Lockheed Martin Corporation in March 1995. Lockheed Martin Corporation was founded in 1912 and is based in Bethesda, Maryland.

Symbol
LMT
Exchange
NYSE
Sector
Industrials
Industry
Aerospace & Defense
Market cap
$116.04B
52 week range
437.25 - 692

Valuation

Share price
$505.50 (close of 2026-10-01)
P/E (TTM)
18.50x
Price to book
13.23x
Price to free cash flow
13.29x
Enterprise value
$132.79B
Book value per share
$38.09

Price performance

PeriodChange
1 day-0.74%
5 days-3.48%
1 month-7.16%
3 months-3.13%
6 months-18.16%
Year to date+4.51%
1 year+1.30%
3 years+23.61%
5 years+45.34%
10 years+110.87%
All time+26932.09%

Members of Congress who disclosed LMT trades

Gilbert Ray Cisneros · Scott Franklin · Byron Donalds · Jefferson Shreve · Kevin Hern · Val Hoyle · Alan Armstrong · Carol Miller · George Whitesides · Jared Moskowitz · Julie Johnson · Ritchie Torres

And 3 others

Profitability and growth

Return on equity
74.65%
Return on invested capital
28.09%
Return on assets
8.38%
Return on capital employed
21.18%
Gross margin
10.15%
Net margin
6.69%
EBITDA margin
12.55%
Revenue growth
5.64%
Net income growth
-5.98%
Free cash flow growth
30.66%

Cash flow and balance sheet

Free cash flow yield (TTM)
7.52%
Current ratio
1.19x
Net debt to EBITDA
1.64x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$75.05B
Cost of revenue
$67.43B
Gross profit
$7.62B
EBITDA
$9.42B
Net income
$5.02B
Earnings per share
$21.56
Research and development
$2.00B
Shares outstanding
232.70M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$75.05B$7.62B$5.02B$21.56
2024-12-31$71.04B$6.93B$5.34B$22.39
2023-12-31$67.57B$8.48B$6.92B$27.65
2022-12-31$65.98B$8.29B$5.73B$21.74
2021-12-31$67.04B$9.06B$6.32B$22.85
2020-12-31$65.40B$8.65B$6.83B$24.40
2019-12-31$59.81B$8.37B$6.23B$22.09
2018-12-31$53.76B$7.27B$5.05B$17.74
2017-12-31$49.96B$6.37B$1.96B$6.82
2016-12-31$47.29B$5.40B$5.17B$17.28

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3110.15%6.69%74.65%28.09%
2024-12-319.75%7.51%84.26%25.41%
2023-12-3112.55%10.24%101.24%32.07%
2022-12-3112.56%8.69%61.86%33.23%
2021-12-3113.52%9.42%57.62%39.18%
2020-12-3113.23%10.45%113.17%45.93%
2019-12-3113.99%10.42%196.47%49.68%
2018-12-3113.53%9.39%348.24%44.26%
2017-12-3112.75%3.93%-252.96%31.88%
2016-12-3111.42%10.94%350.24%34.44%

Cash and debt by year

Period endCashDebt
2025-12-31$4.12B$20.53B
2024-12-31$2.48B$19.63B
2023-12-31$1.44B$17.29B
2022-12-31$2.55B$15.43B
2021-12-31$3.60B$11.67B
2020-12-31$3.16B$11.67B
2019-12-31$1.51B$11.40B
2018-12-31$772.00M$12.60B
2017-12-31$2.86B$13.51B
2016-12-31$1.84B$14.28B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$6.91B$304.00M
2024-12-31$5.29B$277.00M
2023-12-31$6.23B$265.00M
2022-12-31$6.13B$238.00M
2021-12-31$7.70B$227.00M
2020-12-31$6.42B$221.00M
2019-12-31$5.83B$189.00M
2018-12-31$1.86B$173.00M
2017-12-31$5.30B$158.00M
2016-12-31$4.13B$149.00M

Dividend history

Most recent payment
2026-09-01
Paid in the last twelve months
$13.80
Payment dateDividend per share
2026-09-01$3.45
2026-06-01$3.45
2026-03-02$3.45
2025-12-01$3.45
2025-09-02$3.30
2025-06-02$3.30
2025-03-03$3.30
2024-12-02$3.30

Investor relations

Next earnings report

Next confirmed report
2026-10-20
Consensus EPS estimate
$7.25

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-23Jun/2026$7.22
2026-04-23--
2026-01-29--
2025-10-21--
2025-07-22--
2025-04-22--
2025-01-28--
2024-10-22--

Filings and sources

Company website
lockheedmartin.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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