LOCKHEED MARTIN CORP LMT

Consumer discretionary SIC 3760 - Guided Missiles & Space Vehicles & Parts NYSE

We are a global aerospace and defense technology company that builds and sustains the solutions America and its allies need to deter conflict and advance national security and scientific exploration objectives. Our four business areas – Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space – work as one company offering integrated solutions, at scale, across all warfighting domains. Our defense, space, intelligence, homeland security, information technology, and cybersecurity capabilities serve U.S. and international customers in defense, civil and commercial applications. Our principal customers are agencies of the U.S. Government and allies.

Recent regional conflicts have demonstrated the integral role Lockheed Martin products play in protecting people, and we are rapidly transforming our business to meet increased demand. We are expanding production capacity to continue delivering at scale, and we are harnessing leading-edge technologies like artificial intelligence and autonomy, open-architecture systems, and advanced networking to make defense forces more agile, adaptive and unpredictable. Our goal is to deliver overwhelming capability and value – quickly, at the needed quantities and with the greatest effectiveness – to enable overmatch and strengthen deterrence today and into the future.

Last close 525.28 2026-09-04
Market cap $121.23B 2026-06-28 share count
52-week range 437.25 - 692.00

Valuation FY2025 figures against the last close

P/S1.6x
P/E24.4x
P/FCF17.5x
EV/EBITDA14.7x
Dividend yield2.6%
Diluted EPS21.49

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $75.05B$71.04B$67.57B$65.98B$67.04B$65.40B$59.81B$53.76B$49.96B$47.29B
Cost of revenue $67.43B$64.11B$59.09B$57.70B$57.98B$56.74B$51.45B$46.49B$43.59B$41.89B
Gross profit $7.62B$6.93B$8.48B$8.29B$9.06B$8.65B$8.37B$7.27B$6.37B$5.40B
R&D $2.00B$1.60B$1.50B$1.70B$1.50B$1.30B$1.30B$1.30B$1.20B$988.0M
Operating income $7.73B$7.01B$8.51B$8.35B$9.12B$8.64B$8.54B$7.33B$6.74B$5.89B
Interest expense $1.12B$1.04B$916.0M$623.0M$569.0M$591.0M$653.0M$668.0M$651.0M$663.0M
Pre-tax income $5.92B$6.22B$8.10B$6.68B$7.55B$8.23B$7.24B$5.84B$5.25B$4.75B
Income tax $905.0M$884.0M$1.18B$948.0M$1.24B$1.35B$1.01B$792.0M$3.36B$1.09B
Net income $5.02B$5.34B$6.92B$5.73B$6.32B$6.83B$6.23B$5.05B$1.96B$5.17B
EPS, basic 21.5622.3927.6521.7422.8524.4022.0917.746.8217.28
EPS, diluted 21.4922.3127.5521.6622.7624.3021.9517.596.7517.07
Shares, diluted (wtd. avg.) $233.5M$239.2M$251.2M$264.6M$277.4M$281.2M$283.8M$286.8M$290.6M$303.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.12B$2.48B$1.44B$2.55B$3.60B$3.16B$1.51B$772.0M$2.86B$1.84B
Receivables $3.90B$2.35B$2.13B$2.50B$1.96B$1.98B$2.34B$2.44B$2.27B$8.20B
Inventory $3.52B$3.47B$3.13B$3.09B$2.98B$3.54B$3.62B$3.00B$2.88B
Total current assets $25.36B$21.85B$20.52B$20.99B$19.82B$19.38B$17.09B$16.10B$17.50B$15.11B
Property, plant and equipment $8.88B$8.73B$8.37B$7.97B$7.60B$7.21B$6.59B$6.12B$5.78B$5.55B
Goodwill $11.31B$11.07B$10.80B$10.78B$10.81B$10.81B$10.60B$10.77B$10.81B$10.76B
Other intangibles $1.89B$2.02B$2.21B$2.46B$2.71B$3.01B$3.21B$3.49B$3.80B$4.09B
Total assets $59.84B$55.62B$52.46B$52.88B$50.87B$50.71B$47.53B$44.88B$46.62B$47.81B
Accounts payable $3.63B$2.22B$2.31B$2.12B$780.0M$880.0M$1.28B$2.40B$1.47B$1.65B
Short-term debt $1.17B$643.0M$168.0M$118.0M$6.0M$500.0M$1.25B$1.50B$750.0M$0
Total current liabilities $23.34B$19.42B$16.94B$15.89B$14.00B$13.93B$13.97B$14.40B$12.91B$12.54B
Long-term debt $20.53B$19.63B$17.29B$15.43B$11.67B$11.67B$11.40B$12.60B$13.51B$14.28B
Total liabilities $53.12B$49.28B$45.62B$43.61B$39.91B$44.67B$44.36B$43.43B$47.40B$46.20B
Retained earnings $14.03B$14.55B$15.40B$16.94B$21.60B$21.64B$18.40B$15.43B$11.40B$13.32B
Total equity $6.72B$6.33B$6.83B$9.27B$10.96B$6.04B$3.17B$1.45B-$776.0M$1.48B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $8.56B$6.97B$7.92B$7.80B$9.22B$8.18B$7.31B$3.14B$6.48B$5.19B
Depreciation and amortisation $1.69B$1.56B$1.43B$903.0M$904.0M$853.0M$794.0M$759.0M$760.0M$747.0M
Stock-based compensation $304.0M$277.0M$265.0M$238.0M$227.0M$221.0M$189.0M$173.0M$158.0M$149.0M
Capital expenditure $1.65B$1.69B$1.69B$1.67B$1.52B$1.77B$1.48B$1.28B$1.18B$1.06B
Investing cash flow -$1.98B-$1.79B-$1.69B-$1.79B-$1.16B-$2.01B-$1.24B-$1.07B-$1.15B-$985.0M
Financing cash flow -$4.94B-$4.14B-$7.33B-$7.07B-$7.62B-$4.53B-$5.33B-$4.15B-$4.30B-$3.46B
Dividends paid $3.13B$3.06B$3.06B$3.02B$2.94B$2.76B$2.56B$2.35B$2.16B$2.05B
Buybacks $3.00B$3.70B$6.00B$7.90B$4.09B$1.10B$1.20B$1.49B$2.00B$2.10B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-004195.

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