Financials · LMT

Lockheed Martin Corporation (LMT) financials

For the twelve months ended Sep 27, 2026, Lockheed Martin Corporation reported $79.12B of revenue and $6.51B of net income.

Revenue, TTM
$79.12B
Revenue growth, YoY
+7.9%
Net income, TTM
$6.51B
Net income growth, YoY
+55.1%
Net margin
8.2%
Free cash flow, TTM
$8.38B
EPS, diluted, TTM
$28.15
EPS growth, YoY
+56.7%
Cash
$5.96B
Total debt
$20.50B
P/E
20.11
P/S
1.66
Market cap
$131.00B
Annual revenue$75.05B
FY2016FY2025
Annual net income$5.02B
FY2016FY2025
Annual free cash flow$6.91B
FY2016FY2025

LMT revenue and earnings growth

LMT revenueQ3 2026$20.71B

Quarter YoY
+11.3%
QoQ
+3.2%
FY YoY
+5.6%
5Y CAGR
+2.8%
10Y CAGR
+6.4%

LMT revenue was $20.71B in fiscal Q3 2026 (ended Sep 27, 2026), up 11.3% from a year earlier and up 3.2% from the prior quarter. For the full fiscal 2025 it was $75.05B, up 5.6% from fiscal 2024. Compound annual growth was +2.8% over 5 years and +6.4% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

LMT net incomeQ3 2026$1.84B

Quarter YoY
+14.0%
QoQ
+0.5%
FY YoY
-6.0%
5Y CAGR
-6.0%
10Y CAGR
+3.4%

LMT net income was $1.84B in fiscal Q3 2026 (ended Sep 27, 2026), up 14.0% from a year earlier and up 0.5% from the prior quarter. For the full fiscal 2025 it was $5.02B, down 6.0% from fiscal 2024. Compound annual growth was -6.0% over 5 years and +3.4% over 10 years. It rose in 5 of the last 10 fiscal years.

LMT EPSQ3 2026$7.97

Quarter YoY
+14.7%
QoQ
+0.4%
FY YoY
-3.7%
5Y CAGR
-2.4%
10Y CAGR
+6.5%

LMT diluted EPS was $7.97 in fiscal Q3 2026 (ended Sep 27, 2026), up 14.7% from a year earlier and up 0.4% from the prior quarter. For the full fiscal 2025 it was $21.49, down 3.7% from fiscal 2024. Compound annual growth was -2.4% over 5 years and +6.5% over 10 years.

LMT free cash flowQ3 2026$3.00B

Quarter YoY
-10.4%
QoQ
+2.8%
FY YoY
+30.7%
5Y CAGR
+1.5%
10Y CAGR
+5.2%

LMT free cash flow was $3.00B in fiscal Q3 2026 (ended Sep 27, 2026), down 10.4% from a year earlier and up 2.8% from the prior quarter. For the full fiscal 2025 it was $6.91B, up 30.7% from fiscal 2024. Compound annual growth was +1.5% over 5 years and +5.2% over 10 years. It rose in 6 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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
Research and development$2.00B$1.60B$1.50B$1.70B$1.50B$1.30B$1.30B$1.30B$1.20B$988.00M
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$916.00M$623.00M$569.00M$591.00M$653.00M$668.00M$651.00M$663.00M
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$905.00M$884.00M$1.18B$948.00M$1.24B$1.35B$1.01B$792.00M$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$21.56$22.39$27.65$21.74$22.85$24.40$22.09$17.74$6.82$17.28
EPS, diluted$21.49$22.31$27.55$21.66$22.76$24.30$21.95$17.59$6.75$17.07
Diluted shares233.5M239.2M251.2M264.6M277.4M281.2M283.8M286.8M290.6M303.1M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$4.12B$2.48B$1.44B$2.55B$3.60B$3.16B$1.51B$772.00M$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-
Current assets$25.36B$21.85B$20.52B$20.99B$19.82B$19.38B$17.09B$16.10B$17.50B$15.11B
Goodwill$11.31B$11.07B$10.80B$10.78B$10.81B$10.81B$10.60B$10.77B$10.81B$10.76B
Total assets$59.84B$55.62B$52.46B$52.88B$50.87B$50.71B$47.53B$44.88B$46.62B$47.81B
Current liabilities$23.34B$19.42B$16.94B$15.89B$14.00B$13.93B$13.97B$14.40B$12.91B$12.54B
Short-term debt$1.17B$643.00M$168.00M$118.00M$6.00M$500.00M$1.25B$1.50B$750.00M$0
Long-term debt$20.53B$19.63B$17.29B$15.43B$11.67B$11.67B$11.40B$12.60B$13.51B$14.28B
Total debt$21.70B$20.27B$17.46B$15.55B$11.68B$12.17B$12.65B$14.10B$14.26B$14.28B
Total liabilities$53.12B$49.28B$45.62B$43.61B$39.91B$44.67B$44.36B$43.43B$47.40B$46.20B
Shareholders' equity$6.72B$6.33B$6.83B$9.27B$10.96B$6.04B$3.17B$1.45B-$776.00M$1.48B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$8.56B$6.97B$7.92B$7.80B$9.22B$8.18B$7.31B$3.14B$6.48B$5.19B
Capital expenditures$1.65B$1.69B$1.69B$1.67B$1.52B$1.77B$1.48B$1.28B$1.18B$1.06B
Free cash flow$6.91B$5.29B$6.23B$6.13B$7.70B$6.42B$5.83B$1.86B$5.30B$4.13B
Investing cash flow-$1.98B-$1.79B-$1.69B-$1.79B-$1.16B-$2.01B-$1.24B-$1.07B-$1.15B-$985.00M
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
Share repurchases$3.00B$3.70B$6.00B$7.90B$4.09B$1.10B$1.20B$1.49B$2.00B$2.10B
Stock-based compensation$304.00M$277.00M$265.00M$238.00M$227.00M$221.00M$189.00M$173.00M$158.00M$149.00M
Depreciation and amortization$1.69B$1.56B$1.43B$1.40B$1.36B$1.02B$906.00M$1.16B$1.20B$1.17B

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY5.6%5.1%2.4%-1.6%2.5%9.3%11.3%7.6%5.6%16.7%
Net income growth, YoY-6.0%-22.9%20.7%-9.2%-7.6%9.7%23.5%157.1%-62.1%43.5%
EPS growth, YoY-3.7%-19.0%27.2%-4.8%-6.3%10.7%24.8%160.6%-60.5%49.0%
Gross margin10.2%9.8%12.5%12.6%13.5%13.2%14.0%13.5%12.8%11.4%
Operating margin10.3%9.9%12.6%12.7%13.6%13.2%14.3%13.6%13.5%12.5%
Net margin6.7%7.5%10.2%8.7%9.4%10.4%10.4%9.4%3.9%10.9%
Free cash flow margin9.2%7.4%9.2%9.3%11.5%9.8%9.7%3.5%10.6%8.7%
Return on equity74.6%84.3%101.2%61.9%57.6%113.2%196.5%348.2%-350.2%
Return on assets8.4%9.6%13.2%10.8%12.4%13.5%13.1%11.2%4.2%10.8%
Current ratio1.091.131.211.321.421.391.221.121.361.20
Debt to equity3.233.202.551.681.072.023.999.73-9.67

Source: XBRL data Lockheed Martin Corporation files with the SEC, latest filing dated Oct 22, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

LMT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
LMT$79.12B+7.9%$6.51B8.2%$131.00B
TDG$10.01B+16.6%$2.13B21.3%$66.17B
FER€9.63B+5.2%€888.00M9.2%$42.24B
RKLB$769.15M+52.5%-$165.46M-21.5%$33.32B
ESLT$7.94B+16.3%$534.34M6.7%$31.75B
J$14.22B+20.1%$338.43M2.4%$17.43B
TTEK$5.07B-7.6%$435.98M8.6%$10.32B
MOG.B$4.32B+15.7%$377.12M8.7%$10.30B

LMT FAQ

9 questions
  • What is LMT revenue?
    Lockheed Martin Corporation (LMT) reported $79.12B of revenue for the twelve months ended Sep 27, 2026. That is up 7.9% from the year before. Revenue for fiscal 2025 was $75.05B.
  • Is LMT profitable?
    Yes. Lockheed Martin Corporation earned $6.51B in net income for the twelve months ended Sep 27, 2026, a net margin of 8.2%.
  • How much cash and debt does LMT have?
    Lockheed Martin Corporation reported $5.96B in cash and cash equivalents and $20.50B of debt on its most recent balance sheet in SEC filings.
  • How fast is LMT revenue growing?
    Lockheed Martin Corporation's revenue changed +5.6% in fiscal 2025, to $75.05B. Its compound annual growth rate was +2.8% over 5 years and +6.4% over 10 years.
  • What is LMT gross margin?
    Lockheed Martin Corporation's gross profit was $9.28B on $79.12B of revenue for the twelve months ended Sep 27, 2026, a gross margin of 11.7%.
  • What is LMT free cash flow?
    Lockheed Martin Corporation generated $8.38B of free cash flow for the twelve months ended Sep 27, 2026, which is operating cash flow of $10.11B less capital expenditures.
  • What is LMT earnings per share?
    Diluted earnings per share were $28.15 for the twelve months ended Sep 27, 2026, from SEC filings, restated for any stock split those filings show.
  • When did LMT last report financial results?
    The latest statements here come from Lockheed Martin Corporation's 10-Q filed on Oct 22, 2026, covering the period ended Sep 27, 2026.
  • Where does this LMT financial data come from?
    Quantisnow builds these statements from the structured XBRL data Lockheed Martin Corporation files with the SEC. It is provided for information only and is not investment advice.