LMT

MKT CAP:$117B

Lockheed Martin Corporation

Market Cap

$117B

Industrials·Aerospace & Defense·🇺🇸 United States·NYSE

Industrials·Aerospace·🇺🇸·NYSE

Stock Price

$509.18+$12.11 (+2.44%)

Apr 24, 2026

Company Details

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segment...

CEO

James D. Taiclet Jr.

IPO Date

Jan 3, 1977

Website

www.lockheedmartin.com

Key Metrics TTM

Revenue

$75.1B

+4.6% YoY

Net Income

$4.8B

EPS (Diluted)

$20.65

Free Cash Flow

$5.7B

Revenue / Share

$325.03

Gross Margin

9.8%

Operating Margin

9.9%

Net Margin

6.4%

FCF Margin

7.5%

P/S

1.6x

P/E

24.5x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$18.0B+0.3%EPS $6.44

FY 2025

Jan 29, 2026

$75.1B+5.7%EPS $21.49

Q4 2025

Jan 29, 2026

$20.3B+9.2%EPS $5.80

Q3 2025

Oct 21, 2025

$18.6B+8.8%EPS $6.95

Q2 2025

Jul 22, 2025

$18.2B+0.2%EPS $1.46

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$15.4B	$2.0B	$2.0B
Q3 22	$16.6B	$2.1B	$2.2B
Q4 22	$19.0B	$2.3B	$2.3B
Q1 23	$15.1B	$2.0B	$2.0B
Q2 23	$16.7B	$2.1B	$2.1B
Q3 23	$16.9B	$2.0B	$2.0B
Q4 23	$18.9B	$2.3B	$2.3B
Q1 24	$17.2B	$2.0B	$2.0B
Q2 24	$18.1B	$2.2B	$2.1B
Q3 24	$17.1B	$2.1B	$2.1B
Q4 24	$18.6B	$690M	$696M
Q1 25	$18.0B	$2.3B	$2.4B
Q2 25	$18.2B	$734M	$748M
Q3 25	$18.6B	$2.2B	$2.3B
Q4 25	$20.3B	$2.3B	$2.3B
Q1 26	$18.0B	$2.1B	$2.1B

Valuation

Quarter	P/S	P/E
Q2 22	1.7x	23.5x
Q3 22	1.6x	17.9x
Q4 22	1.8x	20.4x
Q1 23	1.8x	21.0x
Q2 23	1.7x	16.0x
Q3 23	1.5x	14.5x
Q4 23	1.6x	16.0x
Q1 24	1.6x	16.0x
Q2 24	1.6x	16.4x
Q3 24	1.9x	20.7x
Q4 24	1.6x	21.4x
Q1 25	1.5x	19.0x
Q2 25	1.5x	25.5x
Q3 25	1.5x	27.0x
Q4 25	1.5x	22.5x
Q1 26	1.8x	28.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$1.3B	$1.0B
Q3 22	$3.1B	$2.7B
Q4 22	$1.9B	$1.2B
Q1 23	$1.6B	$1.3B
Q2 23	$1.1B	$771M
Q3 23	$2.9B	$2.5B
Q4 23	$2.4B	$1.7B
Q1 24	$1.6B	$1.3B
Q2 24	$1.9B	$1.5B
Q3 24	$2.4B	$2.1B
Q4 24	$1.0B	$441M
Q1 25	$1.4B	$955M
Q2 25	$201M	-$150M
Q3 25	$3.7B	$3.3B
Q4 25	$3.2B	$2.8B
Q1 26	$220M	-$291M

Capital Expenditures

Quarter	CapEx
Q2 22	$304M
Q3 22	$405M
Q4 22	$693M
Q1 23	$294M
Q2 23	$329M
Q3 23	$364M
Q4 23	$704M
Q1 24	$378M
Q2 24	$370M
Q3 24	$355M
Q4 24	$582M
Q1 25	$454M
Q2 25	$351M
Q3 25	$381M
Q4 25	$463M
Q1 26	$511M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-9.3%	-9.1%
Q3 22	+3.5%	+5.0%
Q4 22	+7.1%	+9.3%
Q1 23	+1.1%	+0.4%
Q2 23	+8.1%	+7.9%
Q3 23	+1.8%	+2.9%
Q4 23	-0.6%	-0.7%
Q1 24	+13.7%	+15.9%
Q2 24	+8.6%	+9.7%
Q3 24	+1.3%	+0.9%
Q4 24	-1.3%	+8.1%
Q1 25	+4.5%	+2.8%
Q2 25	+0.2%	+9.0%
Q3 25	+8.8%	+9.1%
Q4 25	+9.2%	+0.4%
Q1 26	+0.3%	+2.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$80M	0.5%
Q3 22	$61M	0.4%
Q4 22	$43M	0.2%
Q1 23	$57M	0.4%
Q2 23	$89M	0.5%
Q3 23	$75M	0.4%
Q4 23	$44M	0.2%
Q1 24	$61M	0.4%
Q2 24	$93M	0.5%
Q3 24	$75M	0.4%
Q4 24	$48M	0.3%
Q1 25	$60M	0.3%
Q2 25	$81M	0.4%
Q3 25	$74M	0.4%
Q4 25	$89M	0.4%
Q1 26	$83M	0.5%

OpEx Breakdown

Quarter	R&D	G&A
Q2 25	—	$99M
Q4 25	$665M	—

Revenue Segments

Quarter	Aeronautics	Missiles And Fire Control	Rotary and Mission Systems	Space
Q2 22	$5.9B	$2.7B	$4.0B	$2.8B
Q3 22	$7.1B	$2.8B	$3.8B	$2.9B
Q4 22	$7.6B	$3.3B	$4.8B	$3.3B
Q1 23	$6.3B	$2.4B	$3.5B	$3.0B
Q2 23	$6.9B	$2.8B	$3.9B	$3.2B
Q3 23	$6.7B	$2.9B	$4.1B	$3.1B
Q4 23	$7.6B	$3.2B	$4.7B	$3.4B
Q1 24	$6.8B	$3.0B	$4.1B	$3.3B
Q2 24	$7.3B	$3.1B	$4.5B	$3.2B
Q3 24	$6.5B	$3.2B	$4.4B	$3.1B
Q4 24	$8.0B	$3.4B	$4.3B	$2.9B
Q1 25	$7.1B	$3.4B	$4.3B	$3.2B
Q3 25	$7.3B	$3.6B	$4.4B	$3.4B

Revenue by Geography

Quarter	Asia Pacific	Europe	Middle East	Other	United States
Q2 22	$1.4B	$1.3B	$843M	$330M	$11.6B
Q3 22	$1.3B	$1.6B	$813M	$326M	$12.5B
Q4 22	$1.5B	$1.8B	$1.2B	$388M	$14.0B
Q1 23	$1.2B	$1.6B	$866M	$292M	$11.1B
Q2 23	$1.5B	$1.6B	$793M	$302M	$12.6B
Q3 23	$1.5B	$1.7B	$880M	$315M	$12.6B
Q4 23	$1.7B	$2.2B	$1.0B	$319M	$13.7B
Q1 24	$1.4B	$1.7B	$739M	$315M	$13.0B
Q2 24	$1.6B	$1.8B	$845M	$403M	$13.5B
Q3 24	$1.5B	$1.7B	$729M	$398M	$12.8B
Q4 24	$1.7B	$2.5B	$762M	$367M	$13.3B
Q1 25	$1.7B	$2.0B	$704M	$506M	$13.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.8B	$0	$1.8B
Q3 22	$2.4B	$0	$2.4B
Q4 22	$2.5B	$0	$2.5B
Q1 23	$2.4B	$0	$2.4B
Q2 23	$3.7B	$0	$3.7B
Q3 23	$3.6B	$0	$3.6B
Q4 23	$1.4B	$0	$1.4B
Q1 24	$2.8B	$0	$2.8B
Q2 24	$2.5B	$0	$2.5B
Q3 24	$3.2B	$0	$3.2B
Q4 24	$2.5B	$0	$2.5B
Q1 25	$1.8B	$0	$1.8B
Q2 25	$1.3B	$0	$1.3B
Q3 25	$3.5B	$0	$3.5B
Q4 25	$4.1B	$0	$4.1B
Q1 26	$1.9B	$0	$1.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	267M	-0.9%	-4.2%
Q3 22	265M	-0.6%	-4.4%
Q4 22	258M	-2.6%	-5.8%
Q1 23	256M	-1.0%	-5.0%
Q2 23	254M	-0.8%	-4.9%
Q3 23	250M	-1.3%	-5.6%
Q4 23	246M	-1.6%	-4.7%
Q1 24	242M	-1.8%	-5.5%
Q2 24	240M	-0.8%	-5.5%
Q3 24	239M	-0.4%	-4.6%
Q4 24	237M	-0.7%	-3.7%
Q1 25	235M	-0.7%	-2.6%
Q2 25	234M	-0.4%	-2.2%
Q3 25	233M	-0.6%	-2.4%
Q4 25	232M	-0.4%	-2.2%
Q1 26	231M	-0.3%	-1.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$135.5K	114K
Q3 22	$145.5K	114K
Q4 22	$163.7K	116K
Q1 23	$130.4K	116K
Q2 23	$143.9K	116K
Q3 23	$145.5K	116K
Q4 23	$154.7K	122K
Q1 24	$140.9K	122K
Q2 24	$148.5K	122K
Q3 24	$140.2K	122K
Q4 24	$153.9K	121K
Q1 25	$148.5K	121K
Q2 25	$150.0K	121K
Q3 25	$153.8K	121K
Q4 25	$165.3K	123K
Q1 26	$146.5K	123K

Revenue / Employee