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Overview

LOCKHEED MARTIN CORP

LMTNYSEIndustrialsGuided Missiles & Space Vehicles & PartsCIK 0000936468Large-cap benchmark

Latest 10-K: FY2025, filed Jan 29, 2026 · Open the 10-K (Inline XBRL) ↗

Revenue
$75.05B
5.6%YoYup from FY2024
TotalRevenue
Gross profit
$7.62B
9.9%YoYup from FY2024
GrossProfit
Operating income
$7.73B
10.2%YoYup from FY2024
OperatingIncome
Net income
$5.02B
6.0%YoYdown from FY2024
NetIncome
Diluted EPS
$21.49
3.7%YoYdown from FY2024
EPSDiluted
Diluted shares
233.5M
2.4%YoYdown from FY2024
WeightedAvgSharesDiluted

At a glance

Growth

  • LOCKHEED MARTIN CORP reported revenue of $75.05B for fiscal 2025, up 5.6% from fiscal 2024.
  • Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.

Profitability

  • Operating margin was 10.3% and net margin was 6.7%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

  • Diluted EPS was $21.49, down 3.7% from the prior year.
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Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Revenue
$75.05B5.6%up
Benchmark median 6.4%
$71.04B5.1%up
Benchmark median 4.5%
$67.57B2.4%up
Benchmark median 4.8%
$65.98B1.6%down
Benchmark median 10.3%
$67.04B2.5%up
Benchmark median 13.8%
2.9%
Benchmark median 6.6%
Gross Profit
Median of 315 / 498
$7.62B9.9%up
Benchmark median 6.8%
$6.93B18.3%down
Benchmark median 5.5%
$8.48B2.3%up
Benchmark median 5.2%
$8.29B8.5%down
Benchmark median 8.3%
$9.06B4.7%up
Benchmark median 15.7%
-4.2%
Benchmark median 6.2%
Operating Income
Median of 373 / 498
$7.73B10.2%up
Benchmark median 7.3%
$7.01B17.6%down
Benchmark median 7.4%
$8.51B1.9%up
Benchmark median 4.9%
$8.35B8.5%down
Benchmark median 7.5%
$9.12B5.5%up
Benchmark median 23.5%
-4.1%
Benchmark median 7.2%
Net Income
$5.02B6.0%down
Benchmark median 4.8%
$5.34B22.9%down
Benchmark median 5.7%
$6.92B20.7%up
Benchmark median 1.9%
$5.73B9.2%down
Benchmark median 1.3%
$6.32B7.6%down
Benchmark median 33.9%
-5.6%
Benchmark median 4.1%
EPS (Diluted)
$21.493.7%down
Benchmark median 6.2%
$22.3119.0%down
Benchmark median 7.9%
$27.5527.2%up
Benchmark median 1.9%
$21.664.8%down
Benchmark median 1.5%
$22.766.3%down
Benchmark median 34.8%
-1.4%
Benchmark median 5.6%

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Total Assets
$59.84B7.6%up
Benchmark median 5.6%
$55.62B6.0%up
Benchmark median 3.4%
$52.46B0.8%down
Benchmark median 4.1%
$52.88B3.9%up
Benchmark median 2.2%
$50.87B0.3%up
Benchmark median 6.7%
4.1%
Benchmark median 4.7%
Total Liabilities
Median of 357 / 498
$53.12B7.8%up
Benchmark median 6.4%
$49.28B8.0%up
Benchmark median 1.9%
$45.62B4.6%up
Benchmark median 2.9%
$43.61B9.3%up
Benchmark median 2.0%
$39.91B10.7%down
Benchmark median 5.2%
7.4%
Benchmark median 4.4%
Stockholders' Equity
$6.72B6.1%up
Benchmark median 6.8%
$6.33B7.3%down
Benchmark median 5.4%
$6.83B26.2%down
Benchmark median 7.3%
$9.27B15.4%down
Benchmark median 2.5%
$10.96B81.5%up
Benchmark median 9.0%
-11.5%
Benchmark median 6.1%
Cash & Equivalents
$4.12B66.0%up
Benchmark median 5.2%
$2.48B72.2%up
Benchmark median 1.9%
$1.44B43.4%down
Benchmark median 6.7%
$2.55B29.3%down
Benchmark median -8.6%
$3.60B14.1%up
Benchmark median -2.9%
3.4%
Benchmark median 2.0%
Total Debt
$21.70B7.1%up
Benchmark median 2.1%
$20.27B16.1%up
Benchmark median 0.2%
$17.46B12.3%up
Benchmark median 0.3%
$15.55B33.2%up
Benchmark median 0.1%
$11.68B4.1%down
Benchmark median -0.1%
16.8%
Benchmark median 4.3%

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Operating Cash Flow
$8.56B22.7%up
Benchmark median 6.3%
$6.97B12.0%down
Benchmark median 4.8%
$7.92B1.5%up
Benchmark median 9.9%
$7.80B15.4%down
Benchmark median -0.7%
$9.22B12.7%up
Benchmark median 10.7%
-1.9%
Benchmark median 7.0%
Capital Expenditures
$1.65B2.1%down
Benchmark median 5.4%
$1.69B0.4%down
Benchmark median 2.8%
$1.69B1.3%up
Benchmark median 11.3%
$1.67B9.7%up
Benchmark median 14.0%
$1.52B13.8%down
Benchmark median 8.1%
2.0%
Benchmark median 9.0%
Free Cash Flow
Median of 378 / 498
$6.91B30.7%up
Benchmark median 7.3%
$5.29B15.1%down
Benchmark median 6.1%
$6.23B1.6%up
Benchmark median 8.8%
$6.13B20.4%down
Benchmark median -11.3%
$7.70B20.0%up
Benchmark median 10.2%
-2.7%
Benchmark median 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

4.4%

Wall Street

on net earnings

FY2024 4.6%

6.1%

Value investor

on free cash flow

FY2024 4.5%

Gap +1.7 pts: Value-investor figure 1.7 points higher

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 22.5×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

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Smart money

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Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.

Peers, filings & research

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Research Reports

No published research on LMT yet.

Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on LMT and publish the result to your public profile.

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Cite this page

Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/LMT

APA-style text
Valuein. (2026, October 31). LOCKHEED MARTIN CORP (LMT) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/LMT
BibTeX
@misc{valuein_lmt_2026,
  author = {{Valuein}},
  title = {LOCKHEED MARTIN CORP (LMT) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/LMT}},
  note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}
Open 10-K in SEC Inline XBRL viewer

10-K filed Jan 29, 2026 · accession 0001628280-26-004195

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing

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