Lockheed Martin Corp. (LMT)

Name: Lockheed Martin Corp. (LMT): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Lockheed Martin Corp. (LMT) reported revenue of $20.1 billion for Q2 FY2026, the quarter ended 28 June 2026, up 10.5% on the same quarter a year earlier. Net income was $1.8 billion, up 436.8% on the year, and diluted earnings per share $7.94. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue$20.1 billionup 10.5%

Net income$1.8 billionup 436.8%

Diluted EPS$7.94

QuarterQ2 FY2026ended 28 June 2026

Ratios

From the filings

ROE71.7%

ROCE31.2%

Operating margin11.9%

Net margin8.2%

FCF margin11.3%

Interest cover8.24

Debt to equity2.34

Cash conversion1.65

Share count, 1 year-1.1%

Sales CAGR, 3 years4.4%

Profit CAGR, 3 years-4.3%

EPS, TTM$27.13

At the close of 21 September 2026

Price$535.40

Market cap$123.6 billion

Stock P/E19.73

Price to book14.09

EV / EBITDAn/a

Dividend yield2.5%

Market cap / sales1.60

52-week high$676.70

52-week low$439.19

Price, 1 year13.2%

Price CAGR, 3 years9.0%

Price CAGR, 5 years9.4%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. 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.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. 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. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LMT

Filings	21 in twelve months: 8 current reports (8-K), about 4 results of operations; 2 material agreement; 1 shareholder vote; 1 other events
Planned insider sales	7 Form 144 notices in twelve months, $13.9 million; latest 13 August 2026
Options tape	put/call 0.84 by open interest on 23 September 2026; the straddle prices a 2.2% move to 25 September 2026
Holders	11 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading	24 sales and 0 purchases on Form 4 in twelve months
Congress	1 House trade disclosed in six months
Short interest	2.7 million shares short, 2.65 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	16,878	18,874	17,195	18,122	17,104	18,622	17,963	18,155	18,609	20,321	18,021	20,063
Cost of revenue	14,830	16,579	15,202	15,992	14,987	17,932	15,640	17,421	16,369	17,999	15,943	17,617
Gross profit	2,048	2,295	1,993	2,130	2,117	690	2,323	734	2,240	2,322	2,078	2,446
Gross margin	12%	12%	12%	12%	12%	4%	13%	4%	12%	11%	12%	12%
Operating income	2,042	2,293	2,029	2,148	2,140	696	2,372	748	2,280	2,331	2,063	2,479
Operating margin	12%	12%	12%	12%	13%	4%	13%	4%	12%	11%	11%	12%
Interest expense	237	254	255	261	256	264	268	274	286	290	269	266
Pre-tax income	1,953	2,145	1,835	1,948	1,918	519	2,036	417	1,938	1,531	1,774	2,178
Tax rate	14%	13%	16%	16%	15%	-2%	16%	18%	16%	12%	16%	16%
Net income	1,684	1,866	1,545	1,641	1,623	527	1,712	342	1,619	1,344	1,488	1,836
Net margin	10%	10%	9%	9%	9%	3%	10%	2%	9%	7%	8%	9%
Diluted EPS	$6.73	$7.58	$6.39	$6.85	$6.80	$2.27	$7.28	$1.46	$6.95	$5.80	$6.44	$7.94
Operating cash flow	2,891	2,365	1,635	1,876	2,438	1,023	1,409	201	3,728	3,219	220	3,235
Capital expenditure	364	704	378	370	355	582	454	351	381	463	511	318
Free cash flow	2,527	1,661	1,257	1,506	2,083	441	955	-150	3,347	2,756	-291	2,917
Buybacks	1,750	3,000	1,000	850	850	1,000	750	500	1,000	750	0.0	0.0
Dividends paid	747	767	780	752	749	778	796	771	765	799	816	796
Shares outstanding	248m	240m	240m	238m	237m	234m	234m	233m	231m	229m	231m	231m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* 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. 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.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Revenue	39,946	40,536	47,290	49,960	53,762	59,812	65,398	67,044	65,984	67,571	71,043	75,048	77,014
Cost of revenue	35,263	36,044	41,889	43,589	46,488	51,445	56,744	57,983	57,697	59,092	64,113	67,429	67,928
Gross profit	4,683	4,492	5,401	6,371	7,274	8,367	8,654	9,061	8,287	8,479	6,930	7,619	9,086
Gross margin	11.7%	11.1%	11.4%	12.8%	13.5%	14.0%	13.2%	13.5%	12.6%	12.5%	9.8%	10.2%	11.8%
Research and development	733	817	988	1,200	1,300	1,300	1,300	1,500	1,700	1,500	1,600	2,000	n/a
Operating income	5,012	4,712	5,888	6,744	7,334	8,545	8,644	9,123	8,348	8,507	7,013	7,731	9,153
Operating margin	12.5%	11.6%	12.5%	13.5%	13.6%	14.3%	13.2%	13.6%	12.7%	12.6%	9.9%	10.3%	11.9%
Interest expense	340	443	663	651	668	653	591	569	623	916	1,036	1,118	1,111
Pre-tax income	4,677	4,299	4,754	5,246	5,838	7,241	8,235	7,550	6,680	8,098	6,220	5,922	7,421
Income tax	1,424	1,173	1,093	3,356	792	1,011	1,347	1,235	948	1,178	884	905	1,134
Effective tax rate	30.4%	27.3%	23.0%	64.0%	13.6%	14.0%	16.4%	16.4%	14.2%	14.5%	14.2%	15.3%	15.3%
Net income	3,614	3,605	5,173	1,963	5,046	6,230	6,833	6,315	5,732	6,920	5,336	5,017	6,287
Net margin	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	$11.21	$11.46	$17.49	$6.89	$17.59	$21.95	$24.30	$22.76	$21.66	$27.55	$22.31	$21.49	$27.13
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. 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. 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.

Cash flow and capital returned

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Operating cash flow	3,866	5,101	5,189	6,476	3,138	7,311	8,183	9,221	7,802	7,920	6,972	8,557	10,402
Capital expenditure	845	939	1,063	1,177	1,278	1,484	1,766	1,522	1,670	1,691	1,685	1,649	1,673
Free cash flow	3,021	4,162	4,126	5,299	1,860	5,827	6,417	7,699	6,132	6,229	5,287	6,908	8,729
Free cash flow margin	7.6%	10.3%	8.7%	10.6%	3.5%	9.7%	9.8%	11.5%	9.3%	9.2%	7.4%	9.2%	11.3%
Depreciation and amortisation	927	945	1,167	1,195	1,161	906	1,019	1,364	1,404	1,430	1,559	1,687	n/a
Share-based compensation	164	138	149	158	173	189	221	227	238	265	277	304	343
Buybacks	1,900	3,071	2,096	2,001	1,492	1,200	1,100	4,087	7,900	6,000	3,700	3,000	1,750
Dividends paid	1,760	1,932	2,048	2,163	2,347	2,556	2,764	2,940	3,016	3,056	3,059	3,131	3,176
Dividend per share	$5.49	$6.15	$6.77	$7.46	$8.20	$9.00	$9.80	$10.60	$11.40	$12.15	$12.75	$13.35	$13.65
Diluted shares, weighted	322m	315m	303m	291m	287m	284m	281m	277m	265m	251m	239m	234m	231m
Shares outstanding at period end	314m	303m	289m	284m	n/a	280m	279m	271m	254m	240m	234m	229m	231m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the 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 at year end

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Total assets	37,073	49,304	47,806	46,620	44,876	47,528	50,710	50,873	52,880	52,456	55,617	59,840	62,450
Cash and equivalents	1,446	1,090	1,837	2,861	772	1,514	3,160	3,604	2,547	1,442	2,483	4,121	3,791
Receivables	5,884	7,254	8,202	2,265	2,444	2,337	1,978	1,963	2,505	2,132	2,351	3,901	3,356
Inventory	n/a	n/a	n/a	2,878	2,997	3,619	3,545	2,981	3,088	3,132	3,474	3,524	4,411
Goodwill	7,964	10,695	10,764	10,807	10,769	10,604	10,806	10,813	10,780	10,799	11,067	11,314	11,298
Long-term debt	6,142	15,261	14,282	14,263	14,104	12,654	12,169	11,676	15,547	17,459	20,270	21,700	20,538
Borrowings, as the company tags them	n/a	16,296	15,294	15,498	15,312	13,812	13,299	12,799	16,842	18,723	21,557	22,914	21,700
Operating lease liabilities	n/a	n/a	n/a	n/a	n/a	855	841	1,100	916	862	833	825	n/a
Shareholders' equity	3,400	3,097	1,511	-850	1,394	3,127	6,015	10,959	9,266	6,835	6,333	6,721	8,768
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	6.4%	2.8%	4.4%	7.2%
Profit growth, compounded	3.4%	-6.0%	-4.3%	49.5%
Return on equity, average	155.2%	75.9%	86.7%	74.6%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return 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.

Filings

Filing	Period	Filed	Where
10-Q	28 June 2026	23 July 2026	EDGAR
10-Q	29 March 2026	23 April 2026	EDGAR
10-K	31 December 2025	29 January 2026	EDGAR
10-Q	28 September 2025	21 October 2025	EDGAR
10-Q	29 June 2025	22 July 2025	EDGAR
10-Q	30 March 2025	22 April 2025	EDGAR
10-K	31 December 2024	28 January 2025	EDGAR
10-Q	29 September 2024	22 October 2024	EDGAR
10-Q	30 June 2024	23 July 2024	EDGAR
10-Q	31 March 2024	23 April 2024	EDGAR

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