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Lockheed Martin Corp. (LMT)

Lockheed Martin is a global aerospace and defence technology company, working in defence, space, intelligence, homeland security, information technology and cybersecurity for defence, civil and commercial uses. Its principal customers are agencies of the United States government and its allies. It runs four segments organised by the nature of the products and services offered: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company states that recent regional conflicts have shown the role its products play, that it is expanding production capacity to meet increased demand, and that it is applying artificial intelligence, autonomy, open-architecture systems and advanced networking to make defence forces more agile.

Lockheed Martin Corp.

Lockheed Martin is a global aerospace and defence technology company, working in defence, space, intelligence, homeland security, information technology and cybersecurity for defence, civil and commercial uses. Its principal customers are agencies of the United States government and its allies. It runs four segments organised by the nature of the products and services offered: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company states that recent regional conflicts have shown the role its products play, that it is expanding production capacity to meet increased demand, and that it is applying artificial intelligence, autonomy, open-architecture systems and advanced networking to make defence forces more agile.

Aeronautics

The segment develops, makes, integrates, sustains and upgrades advanced military aircraft, including combat and air mobility aircraft and unmanned air vehicles, and holds classified contracts with the United States government. Its major programmes are the F-35 Lightning II stealth fighter, the C-130 Hercules tactical airlifter, the F-16 Fighting Falcon and the F-22 Raptor. The F-35 is the largest programme, at 27% of total consolidated sales and 67% of segment sales in 2025, covering development, production and sustainment contracts, with development focused on modernising capability and sustainment providing logistics and training for delivered aircraft. Production is expected to continue well into the future given the stated government objective of procuring 2,456 aircraft, and seven international partner countries and 12 foreign military sales customers indicated during the year an intent to buy 72 more aircraft beyond their existing programmes of record. The Advanced Development Programs organisation, known as Skunk Works, works on future systems including unmanned and manned aerial systems, air dominance, hypersonics and surveillance.

Missiles and Fire Control

The segment supplies air and missile defence systems, tactical missiles and precision strike weapons, logistics, fire control systems and mission support, readiness, engineering and integration services, alongside classified contracts. Patriot Advanced Capability-3 is a defensive missile for the Army and international customers that intercepts airborne threats with kinetic energy, and Terminal High Altitude Area Defense is a transportable system designed to engage targets inside and outside the atmosphere. The tactical and strike missile programmes include the Multiple Launch Rocket System, which fires surface-to-surface rockets from the M270 and High Mobility Artillery Rocket System platforms, the Precision Strike Missile that succeeds it, the Joint Air-to-Surface Standoff Missile, the Long Range Anti-Ship Missile, Hellfire and the Joint Air-to-Ground Missile.

Rotary and Mission Systems

The segment designs, makes and supports military and commercial helicopters, sea and land-based missile defence systems, radar and laser systems, mission and combat systems, command and control solutions, cyber products, simulation and training, and surface ships. Sikorsky programmes include the Black Hawk, Seahawk and CH-53K King Stallion helicopters and the Combat Rescue Helicopter. Integrated warfare systems and sensors cover the Aegis Combat System, air and missile defence for the Navy and international customers and part of the wider missile defence system, and the Littoral Combat Ship, Multi-Mission Surface Combatant and River-Class Destroyer programmes. Command and control work includes the Command, Control, Battle Management and Communications programme for the Ballistic Missile Defense System, undersea combat systems for the Navy and Australia's Joint Air Battle Management System, alongside sustainment, simulators and training. From January 2026 those two lines were renamed Sensors, Effectors and Mission Systems and Mission Integrated Command and Control, with programmes such as Aegis moving between them.

Space

The segment develops and produces satellites, space transportation systems and strategic, advanced strike and defensive systems, provides network-enabled situational awareness, integrates space and ground systems for gathering and distributing intelligence data, and runs classified systems and services. Major programmes include the Trident II D5 Fleet Ballistic Missile, the only submarine-launched intercontinental ballistic missile currently in production in the United States, the Next Generation Overhead Persistent Infrared missile warning system, the Next Generation Interceptor for the Missile Defense Agency, the Orion Multi-Purpose Crew Vehicle for NASA, and a programme to modernise the Global Positioning System satellites.

Supply, property and people

Some products require relatively scarce raw materials such as rare earth minerals, alongside aluminium, titanium, specialty steel, carbon fibre and semiconductors, and the company relies on other firms for materials, components and part of the services delivered under most contracts. Long-term agreements have historically helped keep supply flowing, but supply chain problems, supplier disputes, regulatory restrictions and inflation have caused parts shortages, longer lead times and price rises, and the company is working on moving rare earth mineral and magnet supply chains to secure and compliant sources. No material part of the business is seasonal, though the timing of government awards, funding, deliveries and customer acceptance shifts sales between periods. It owns a substantial number of patents and trademarks along with copyrights, trade secrets and engineering know-how, but federal acquisition rules give the government certain rights in intellectual property developed under its contracts, including the right to let competitors use it; no single right is considered material to the business as a whole. At 31 December 2025 it had approximately 123,000 employees.

From Lockheed Martin's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Lockheed Martin became

Latest results

Latest quarterQ3 FY2026ended 27 September 2026 · 10-Q filed 22 October 2026
Revenue
$20.7 billion
+11.3% on the year · +3.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$1.8 billion
+14.0% on the year · +0.5% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$7.97
+14.7% on the year · +0.4% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 29 January 2026
Revenue
$75.0 billion
+5.6% on the year
FY2018FY2025
Net income
$5.0 billion
-6.0% on the year
FY2018FY2025
Diluted EPS
$21.49
-3.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsLockheed Martin (LMT) reported revenue of $75.0 billion for fiscal 2025, the year ended 31 December 2025, up 5.6% on the year before. Net income was $5.0 billion and diluted earnings per share $21.49. Revenue was $71.0 billion in fiscal 2024, $67.6 billion in fiscal 2023, $66.0 billion in fiscal 2022 and $67.0 billion in fiscal 2021. Net income in the same years was $5.3 billion, $6.9 billion, $5.7 billion and $6.3 billion. Over the twelve months to 27 September 2026, Lockheed Martin reported revenue of $79.1 billion and net income of $6.5 billion. Revenue grew 2.8% a year, compounded, over the five years to fiscal 2025. Lockheed Martin declared $13.80 a share in dividends over the last four quarters and had 231 million shares outstanding at the latest filed count. At 27 September 2026 it carried $20.5 billion of debt and $6.0 billion of cash. At the close of 6 November 2026 the market cap of Lockheed Martin was $131.0 billion, 20.1 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE64.7%
ROCE30.5%
Operating margin11.8%
Net margin8.2%
FCF margin10.6%
Interest cover8.6x
Debt to equity2.04x
Cash conversion1.55x
Share count, last 12 months-0.2%
Sales CAGR, 3 years4.4%
Profit CAGR, 3 years-4.3%
EPS, TTM$28.15

At the close of 6 November 2026

Price$567.05
Market cap$131.0 billion
Stock P/E20.1x
Price to book13.0x
EV / EBITDA13.2x
Dividend yield2.4%
Market cap / sales1.7x
52-week high$676.70
52-week low$439.19
Price, 1 year20.9%
Price CAGR, 3 years8.0%
Price CAGR, 5 years10.8%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Lockheed Martin Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
LMTgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue17,72914,96415,44616,58318,99115,12616,69316,87818,87417,19518,12217,10418,62217,96318,15518,60920,32118,02120,06320,711
Cost of revenue15,30713,05513,49014,46316,68913,08014,60314,83016,57915,20215,99214,98717,93215,64017,42116,36917,99915,94317,61718,275
Gross profit2,4221,9091,9562,1202,3022,0462,0902,0482,2951,9932,1302,1176902,3237342,2402,3222,0782,4462,436
Gross margin14%13%13%13%12%14%13%12%12%12%12%12%4%13%4%12%11%12%12%12%
Operating income2,4551,9331,9632,1592,2932,0372,1352,0422,2932,0292,1482,1406962,3727482,2802,3312,0632,4792,443
Operating margin14%13%13%13%12%13%13%12%12%12%12%13%4%13%4%12%11%11%12%12%
Interest expense146135141145202202223237254255261256264268274286290269266264
Pre-tax income2,4902,0613302,0992,1901,9942,0061,9532,1451,8351,9481,9185192,0364171,9381,5311,7742,1782,172
Tax rate18%16%6%15%13%15%16%14%13%16%16%15%-2%16%18%16%12%16%16%15%
Net income2,0491,7333091,7781,9121,6891,6811,6841,8661,5451,6411,6235271,7123421,6191,3441,4881,8361,845
Net margin12%12%2%11%10%11%10%10%10%9%9%9%3%10%2%9%7%8%9%9%
Diluted EPS$7.47$6.44$1.16$6.71$7.40$6.61$6.63$6.73$7.58$6.39$6.85$6.80$2.22$7.28$1.46$6.95$5.80$6.44$7.94$7.97
Operating cash flow4,2681,4101,3313,1331,9281,5641,1002,8912,3651,6351,8762,4381,0231,4092013,7283,2192203,2353,438
Capital expenditure607268304405693294329364704378370355582454351381463511318439
Free cash flow3,6611,1421,0272,7281,2351,2707712,5271,6611,2571,5062,083441955-1503,3472,756-2912,9172,999
Buybacks2,0872,0003561,3384,2065007501,7503,0001,0008508501,0007505001,0007500.00.00.0
Dividends paid762767744739766784758747767780752749778796771765799816796796
Shares outstanding271m266m265m262m254m253m252m248m240m240m238m237m234m234m233m231m229m231m231m231m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Revenue41,86241,37243,86745,67146,49947,18245,35839,94640,53647,29049,96053,76259,81265,39867,04465,98467,57171,04375,04879,116
Cost of revenue37,62836,79839,72041,82742,79542,98641,17135,26336,04441,88943,58946,48851,44556,74457,98357,69759,09264,11367,42969,834
Gross profit4,2344,5744,1473,8443,7444,1964,1874,6834,4925,4016,3717,2748,3678,6549,0618,2878,4796,9307,6199,282
Gross margin10.1%11.1%9.5%8.4%8.1%8.9%9.2%11.7%11.1%11.4%12.8%13.5%14.0%13.2%13.5%12.6%12.5%9.8%10.2%11.7%
Research and developmentn/a6987176385856166977338179881,2001,3001,3001,3001,5001,7001,5001,6002,000n/a
Operating income4,5275,0494,3674,0974,0204,4344,5055,0124,7125,8886,7447,3348,5458,6449,1238,3488,5077,0137,7319,316
Operating margin10.8%12.2%10.0%9.0%8.6%9.4%9.9%12.5%11.6%12.5%13.5%13.6%14.3%13.2%13.6%12.7%12.6%9.9%10.3%11.8%
Interest expense3523323083453543833503404436636516686535915696239161,0361,1181,089
Pre-tax incomen/an/a4,1823,7783,6314,0724,1554,6774,2994,7545,2465,8387,2418,2357,5506,6808,0986,2205,9227,655
Income tax1,3351,4591,2151,1649641,3271,2051,4241,1731,0933,3567921,0111,3471,2359481,1788849051,142
Effective tax raten/an/a29.1%30.8%26.5%32.6%29.0%30.4%27.3%23.0%64.0%13.6%14.0%16.4%16.4%14.2%14.5%14.2%15.3%14.9%
Net income3,0333,2172,9732,8782,6552,7452,9813,6143,6055,1731,9635,0466,2306,8336,3155,7326,9205,3365,0176,513
Net margin7.2%7.8%6.8%6.3%5.7%5.8%6.6%9.0%8.9%10.9%3.9%9.4%10.4%10.4%9.4%8.7%10.2%7.5%6.7%8.2%
Diluted EPS$7.10$7.86$7.64$7.81$7.81$8.36$9.13$11.21$11.46$17.07$6.75$17.59$21.95$24.30$22.76$21.66$27.55$22.31$21.49$28.15
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Aeronautics11,98813,10914,36214,95314,12314,92015,57017,29319,41021,24223,69326,26626,74826,98727,47428,61830,25740.3%
RMSn/an/an/an/an/a8,7329,09113,59513,66314,25015,12815,99516,78916,14816,23917,26417,31223.1%
MFCn/a6,9307,4637,4576,7957,0926,7706,7897,2828,46210,13111,25711,69311,31711,25312,68214,45019.3%
Space8,6508,2688,1618,3479,2889,2029,1059,6139,6059,80810,86011,88011,81411,53212,60512,47913,02917.4%
Electronic Systems13,630n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Information Systems & Global Solutions9,5999,9219,3818,8466,115n/an/an/an/an/an/an/an/an/an/an/an/an/a
Mission Systems and Trainingn/a7,4437,1327,5799,037n/an/an/an/an/an/an/an/an/an/an/an/an/a
AeronauticsRMS FY2014 to FY2025MFC FY2010 to FY2025SpaceInformation Systems & Global Solutions FY2009 to FY2013Mission Systems and Training FY2010 to FY2013Electronic Systems FY2009
45.7FY201045.4FY201347.3FY201659.8FY201966.0FY202275.0FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2015 to FY2025

The operating profit each segment reports. Costs Lockheed Martin does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Aeronautics1,6811,8452,1762,2722,5212,8432,8002,8672,8252,5232,0866.9%
RMS8448459021,3021,4211,6152,0301,9061,8651,9211,3237.6%
MFC1,2821,0041,0341,2481,4411,5451,6501,6371,5414131,98913.8%
Space1,1711,2889801,0551,1911,1491,1841,0571,1581,2261,34510.3%
AeronauticsRMSMFCSpace
4,978FY20155,092FY20176,574FY20197,664FY20217,389FY20236,743FY2025

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Aeronautics40%31%
RMS23%20%
MFC19%29%
Space17%20%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Products40,08142,50245,00550,05354,92856,43555,46656,26559,27762,65483.5%
Services7,2097,4588,7579,75910,47010,60910,51811,30611,76612,39416.5%
ProductsServices
50.0FY201759.8FY201967.0FY202167.6FY202375.0FY2025

$ billion; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States34,61135,62638,60643,28149,01248,60549,05349,92752,52853,70571.6%
Europe3,7774,8335,4035,9286,3346,7606,2677,0117,7168,80511.7%
Asia Pacific3,7104,7755,2805,8265,1766,1085,4795,8516,2417,81510.4%
Middle East3,7373,7673,6023,9443,9404,2533,7963,5543,0752,8643.8%
Other1,4559598718339361,3181,3891,2281,4831,8592.5%
United StatesEuropeAsia PacificMiddle EastOther
50.0FY201759.8FY201967.0FY202167.6FY202375.0FY2025

$ billion; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Operating cash flow4,2384,4213,4873,8014,2531,5614,5463,8665,1015,1896,4763,1387,3118,1839,2217,8027,9206,9728,55710,112
Capital expenditure9409268521,0749879428368459391,0631,1771,2781,4841,7661,5221,6701,6911,6851,6491,731
Free cash flow3,2983,4952,6352,7273,2666193,7103,0214,1624,1265,2991,8605,8276,4177,6996,1326,2295,2876,9088,381
Free cash flow margin7.9%8.4%6.0%6.0%7.0%1.3%8.2%7.6%10.3%8.7%10.6%3.5%9.7%9.8%11.5%9.3%9.2%7.4%9.2%10.6%
Cash from investing-1,205-907-1,832-573-788-1,177-1,121-1,723-9,734-985-1,147-1,075-1,241-2,010-1,161-1,789-1,694-1,792-1,977-1,873
Cash from financing-2,300-3,938-1,432-3,363-2,144-2,068-2,706-3,3144,277-3,457-4,305-4,152-5,328-4,527-7,616-7,070-7,331-4,139-4,942-5,749
Depreciation and amortisation8198451,0141,0521,0089889909279451,1671,1951,1619061,0191,3641,4041,4301,5591,6871,686
Share-based compensation149155154168157167189164138149158173189221227238265277304358
Buybacks2,1272,9311,8512,4202,4659901,7621,9003,0712,0962,0011,4921,2001,1004,0877,9006,0003,7003,000750
Dividends paid6157379089691,0951,3521,5401,7601,9322,0482,1632,3472,5562,7642,9403,0163,0563,0593,1313,207
Dividend per share$1.47$1.83$2.34$2.64$3.25$4.15$4.78$5.49$6.15$6.77$7.46$8.20$9.00$9.80$10.60$11.40$12.15$12.75$13.35$13.80
Diluted shares, weightedn/a409m389m368m340m328m326m322m315m303m291m287m284m281m277m265m251m239m234m232m
Shares outstanding at period endn/an/an/a346mn/a321m319m314m303m289m284mn/a280m279m271m254m240m234m229m231m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Funded by
Shareholders' equity9,8052,8653,9663,4971,00139.04,9183,4003,0971,511-8501,3943,1276,01510,9599,2666,8356,3336,72110,063
Non-controlling interestn/an/an/an/an/an/an/an/an/a95.074.055.044.023.00.0n/an/an/an/an/a
Debtn/a3,8055,0525,0196,5006,3086,1526,14215,26114,28214,26314,10412,65412,16911,67615,54717,45920,27021,70020,498
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a8558411,100916862833825n/a
Other liabilitiesn/a26,76926,09326,55130,40732,31025,11827,53130,94631,91833,13329,32330,84831,66227,13827,15127,30028,18130,59433,949
Total liabilities and equityn/a33,43935,11135,06737,90838,65736,18837,07349,30447,80646,62044,87647,52850,71050,87352,88052,45655,61759,84064,510
Owned
Fixed assetsn/a4,4884,5204,5544,6114,6754,7064,7555,3895,5495,7756,1246,5917,2137,5977,9758,3708,7268,87511,524
Goodwilln/a9,5269,9489,60510,14810,37010,3487,96410,69510,76410,80710,76910,60410,80610,81310,78010,79911,06711,31411,299
Intangible assetsn/a355311n/an/an/an/a3244,0224,0933,7973,4943,2133,0122,7062,4592,2122,0151,8871,737
Investmentsn/an/a3465163.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Trading assetsn/an/a7578437818741,0001,1001,1001,2001,4001,3001,8002,0002,1001,6001,8001,8002,000n/a
Cash and equivalents2,6482,1682,3912,2613,5821,8982,6171,4461,0901,8372,8617721,5143,1603,6042,5471,4422,4834,1215,960
Receivablesn/a5,2966,0615,6926,0646,5635,8345,8847,2548,2022,2652,4442,3371,9781,9632,5052,1322,3513,9013,096
Inventoryn/a1,9022,1832,3632,481n/an/an/an/an/a2,8782,9973,6193,5452,9813,0883,1323,4743,5243,987
Other assetsn/a9,7048,5949,23310,23814,27711,68315,60019,75416,16116,83716,97617,85018,99619,10921,92622,56923,70124,21826,907
Total assetsn/a33,43935,11135,06737,90838,65736,18837,07349,30447,80646,62044,87647,52850,71050,87352,88052,45655,61759,84064,510
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.4%2.8%4.4%7.9%
Profit growth, compounded3.4%-6.0%-4.3%55.1%
Return on equity, average155.2%75.9%86.7%74.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Lockheed Martin's revenue in fiscal 2025?

Lockheed Martin (LMT) reported revenue of $75.0 billion for fiscal 2025, the year ended 31 December 2025, up 5.6% on the year before.

How much did Lockheed Martin earn in fiscal 2025?

Net income was $5.0 billion for fiscal 2025, and diluted earnings per share $21.49.

What is Lockheed Martin's P/E ratio?

At the close of 6 November 2026, Lockheed Martin traded at 20.1 times its earnings over the twelve months to 27 September 2026.

What is Lockheed Martin's market cap?

The market cap of Lockheed Martin was $131.0 billion at the close of 6 November 2026.

Does Lockheed Martin pay a dividend?

Yes. Lockheed Martin declared $13.80 a share in dividends over the four quarters to 27 September 2026.

Peers: Defense

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Lockheed Martin Corp. LMT$131.0 billion20.1464.7%11.8%7.9%2.042.4%
Rocket Lab Corp. RKLB$31.7 billionn/a-4.7%-29.1%52.5%0.00n/a
Axon Enterprise, Inc. AXON$25.5 billion100.286.9%2.0%33.7%0.76n/a
Kratos Defense & Security Solutions, Inc. KTOS$6.6 billion292.580.6%0.4%28.2%0.00n/a
Firefly Aerospace Inc. FLY$2.5 billionn/a-29.7%-118.0%n/a0.02n/a
Redwire Corp. RDW$1.8 billionn/a-14.1%-46.2%45.8%0.03n/a
Voyager Technologies, Inc. VOYG$1.5 billionn/a-55.2%-86.0%n/a2.63n/a
National Presto Industries Inc. NPK$1.0 billion23.8410.4%9.6%20.9%0.000.7%
York Space Systems Inc. YSS$809 millionn/a-11.6%-48.0%n/a0.08n/a
Sturm Ruger & Co. Inc. RGR$800 million49.545.6%2.5%10.6%0.001.2%
Smith & Wesson Brands, Inc. SWBI$650 million26.836.6%6.6%17.0%0.103.6%
6 companies share its SEC industry code (Guided Missiles & Space Vehicles & Parts); the rest are the names nearest in size in its wider industry, Defense, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on LMT

Dividends$13.80 a share over the four quarters to 27 September 2026, a 2.43% yield
Filings21 in twelve months: 8 current reports (8-K), about 4 results of operations; 2 material agreement; 1 shareholder vote; 1 other events
Planned insider sales7 Form 144 notices in twelve months, $12.4 million; latest 23 October 2026
Options tapeput/call 0.9 by open interest at the 6 November 2026 close; the straddle prices a 4.0% move to 13 November 2026
13F holders2,801 funds reported a position for the quarter to 30 June 2026; largest State Street Corp.
Insider trading24 sales and 0 purchases on Form 4 in twelve months
Congress6 House trades disclosed in six months
Short interest2.6 million shares short, 2.47 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q27 September 202622 October 2026EDGAR
10-Q28 June 202623 July 2026EDGAR
10-Q29 March 202623 April 2026EDGAR
10-K31 December 202529 January 2026EDGAR
10-Q28 September 202521 October 2025EDGAR
10-Q29 June 202522 July 2025EDGAR
10-Q30 March 202522 April 2025EDGAR
10-K31 December 202428 January 2025EDGAR
10-Q29 September 202422 October 2024EDGAR
10-Q30 June 202423 July 2024EDGAR

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