A Business at a Glance
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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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 75.0B | 75.0B | 71.0B | 67.6B | 66.0B | 67.0B |
| Net Income | 5.0B | 5.0B | 5.3B | 6.9B | 5.7B | 6.3B |
| EPS | $21.49 | $21.49 | $22.31 | $27.55 | $21.66 | $22.76 |
| Free Cash Flow | 6.9B | 6.9B | 5.3B | 6.2B | 6.1B | 7.7B |
| ROIC | 25.7% | 30.0% | 27.0% | 33.7% | 36.1% | 49.5% |
| Gross Margin | 10.2% | 10.2% | 9.8% | 12.5% | 12.6% | 13.5% |
| Debt/Equity | 3.40 | 3.40 | 3.30 | 2.58 | 1.69 | 1.07 |
| Dividends/Share | $13.41 | $13.35 | $12.75 | $12.15 | $11.40 | $10.60 |
| Operating Income | 7.7B | 7.7B | 7.0B | 8.5B | 8.3B | 9.1B |
| Operating Margin | 10.3% | 10.3% | 9.9% | 12.6% | 12.7% | 13.6% |
| ROE | 74.6% | 76.9% | 84.3% | 101.2% | 61.9% | 57.6% |
| Shares Outstanding | 233M | 233M | 239M | 251M | 265M | 277M |
LOCKHEED MARTIN CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
LOCKHEED MARTIN CORP trades at 28.8x trailing earnings, compared to its 15-year median P/E of 15.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 20.6x vs a median of 16.3x. The company's 5-year average ROIC is 35.3% with a gross margin of 11.7%. Total shareholder yield (dividends + buybacks) is 4.2%. At current prices, the estimated annualized return to fair value is +9.0%.
LOCKHEED MARTIN CORP (LMT) has a current P/E ratio of 28.8, compared to its historical median P/E of 15.4. The stock is currently considered Expensive based on its historical valuation range.
LOCKHEED MARTIN CORP (LMT) has a 5-year average return on invested capital (ROIC) of 35.3%. This indicates strong capital allocation and a potential competitive advantage.
LOCKHEED MARTIN CORP (LMT) has a market capitalization of $144.7B. It is classified as a large-cap stock.
Yes, LOCKHEED MARTIN CORP (LMT) pays a dividend with a trailing twelve-month yield of 2.16%. The company also returns capital through share buybacks, with a buyback yield of 2.07%.
Based on historical P/E analysis, LOCKHEED MARTIN CORP (LMT) appears expensive. The current P/E of 28.8 is 88% above its historical median of 15.4. The estimated fair value CAGR (P/E method) is 4.1%.
LOCKHEED MARTIN CORP (LMT) operates in the Guided Missiles & Space Vehicles & Parts industry, within the Industrials sector.
LOCKHEED MARTIN CORP (LMT) reported annual revenue of $75.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
LOCKHEED MARTIN CORP (LMT) has a net profit margin of 6.7%. This is a modest margin.
LOCKHEED MARTIN CORP (LMT) generated $6.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LOCKHEED MARTIN CORP (LMT) has a debt-to-equity ratio of 3.40. This indicates higher leverage, which may increase financial risk.
LOCKHEED MARTIN CORP (LMT) reported earnings per share (EPS) of $21.49 in its most recent fiscal year.
LOCKHEED MARTIN CORP (LMT) has a return on equity (ROE) of 76.9%. This indicates the company generates strong returns for shareholders.
LOCKHEED MARTIN CORP (LMT) has a 5-year average gross margin of 11.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for LOCKHEED MARTIN CORP (LMT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LOCKHEED MARTIN CORP (LMT) has a book value per share of $28.79, based on its most recent annual SEC filing.