Saturday 17 October 2026
Export LMT’s income statement to Excel — free account
Lockheed Martin Corporation
LMT Industrials Aerospace & Defense
Lockheed Martin Corporation’s revenue for fiscal 2025 (year ended December 2025) was $75.0 billion, up 5.64% from fiscal 2024. In the quarter to June 2026, revenue grew 10.5%, EPS grew 446.6%, free cash flow grew 2,044.7% and total debt fell 5.08%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for three.
552.09
19.45
+3.65%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.43 | 21.74 | 16.50 | 21.92 | 15.56 | 14.55 | 17.64 | 14.76 | 46.03 | 14.57 |
Piotroski F-Score |
6 | 5 | 6 | 4 | 7 | 8 | 9 | 7 | 8 | 9 |
P/S ratio |
1.50 | 1.63 | 1.69 | 1.91 | 1.47 | 1.52 | 1.84 | 1.39 | 1.84 | 1.60 |
Altman Z-Score |
3.32 | 3.52 | 3.81 | 4.10 | 4.12 | 3.91 | 3.96 | 3.29 | 3.18 | 2.82 |
Altman Z″-Score (non-manufacturers) |
1.99 | 2.12 | 2.65 | 2.96 | 3.63 | 3.38 | 2.98 | 2.50 | 2.40 | 2.12 |
P/FCF ratio |
16.29 | 21.90 | 18.33 | 20.54 | 12.76 | 15.49 | 18.84 | 40.05 | 17.30 | 18.38 |
Beneish M-Score |
(2.24) | (2.40) | (2.74) | (2.43) | (2.78) | (2.70) | (2.59) | (2.25) | (3.67) | (2.55) |
P/Operating CF |
34.96 | 113.20 | 48.27 | 65.31 | 23.02 | 55.01 | 73.69 | 33.60 | 60.63 | 104.00 |
Dividend Safety Score |
76 | — | — | — | — | — | — | — | — | — |
P/B ratio |
16.75 | 18.29 | 16.70 | 13.59 | 8.96 | 16.46 | 34.63 | 51.41 | 0.00 | 47.21 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
1.73 | 1.88 | 1.93 | 2.11 | 1.60 | 1.66 | 2.02 | 1.63 | 2.06 | 1.88 |
EV/EBITDA |
13.82 | 15.58 | 13.10 | 14.25 | 10.24 | 10.91 | 12.43 | 10.34 | 12.98 | 12.50 |
EV/Operating CF |
15.21 | 19.16 | 16.44 | 17.81 | 11.65 | 13.25 | 16.54 | 27.99 | 15.92 | 17.11 |
EV/FCF |
18.84 | 25.27 | 20.90 | 22.66 | 13.95 | 16.89 | 20.76 | 47.22 | 19.45 | 21.51 |
Quick Ratio |
0.34 | 0.25 | 0.21 | 0.32 | 0.40 | 0.37 | 0.28 | 0.22 | 0.40 | 0.80 |
Current Ratio |
1.09 | 1.13 | 1.21 | 1.32 | 1.42 | 1.39 | 1.22 | 1.12 | 1.36 | 1.20 |
Net Debt/EBITDA |
1.87 | 2.08 | 1.61 | 1.33 | 0.80 | 0.91 | 1.14 | 1.57 | 1.44 | 1.75 |
Debt/Assets |
36.26% | 36.45% | 33.28% | 29.40% | 23.59% | 24.00% | 26.62% | 31.43% | 30.59% | 29.87% |
Debt/Equity |
3.23 | 3.20 | 2.55 | 1.68 | 1.10 | 2.02 | 3.99 | 9.73 | (18.38) | 8.89 |
Asset Turnover |
1.30 | 1.31 | 1.28 | 1.27 | 1.32 | 1.33 | 1.29 | 1.18 | 1.06 | 0.97 |
Operating CF/Net income |
1.71 | 1.31 | 1.14 | 1.36 | 1.46 | 1.20 | 1.17 | 0.62 | 3.30 | 1.00 |
Capex/Depreciation |
(0.98) | (1.08) | (1.18) | (1.19) | (1.12) | (1.37) | (1.25) | (1.10) | (0.98) | (0.87) |
Interest Coverage |
6.92 | 6.77 | 9.29 | 13.40 | 16.03 | 14.63 | 13.09 | 10.98 | 10.36 | 8.88 |
| 76.87% | 81.04% | 85.96% | 56.68% | 74.31% | 148.40% | 269.70% | 1,499.55% | 473.01% | 219.99% | |
| 8.69% | 9.87% | 13.14% | 11.05% | 12.43% | 13.91% | 13.48% | 11.03% | 4.16% | 10.65% | |
ROIC |
19.88% | 18.17% | 23.27% | 23.43% | 29.46% | 35.90% | 37.32% | 31.01% | 39.67% | 26.19% |
Return on Tangible Assets |
46.02% | 47.84% | 57.89% | 43.83% | 47.07% | 53.98% | 64.13% | 64.45% | 18.94% | 63.75% |
Average Days of Receivables |
18.97 | 12.08 | 11.52 | 13.86 | 10.69 | 11.04 | 14.26 | 16.59 | 16.55 | 63.31 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Intangible Assets out of Total Assets |
0.22 | 0.24 | 0.25 | 0.25 | 0.27 | 0.27 | 0.29 | 0.32 | 0.31 | 0.31 |
Share Based Compensation of Revenue |
0.41% | 0.39% | 0.39% | 0.36% | 0.34% | 0.34% | 0.32% | 0.32% | 0.32% | 0.32% |
Graham Net Nets |
(0.25) | (0.24) | (0.22) | (0.18) | (0.20) | (0.25) | (0.25) | (0.37) | (0.33) | (0.41) |
Graham Number |
118.37 | 115.60 | 130.32 | 131.25 | 142.74 | 108.81 | 74.74 | 45.09 | 0.00 | 45.82 |
Earnings Yield |
4.46% | 4.60% | 6.06% | 4.56% | 6.43% | 6.87% | 5.67% | 6.78% | 2.17% | 6.87% |
Free Cash Flow Yield |
6.14% | 4.57% | 5.46% | 4.87% | 7.84% | 6.46% | 5.31% | 2.50% | 5.78% | 5.44% |
Revenue per Share |
322.51 | 298.12 | 269.96 | 250.22 | 242.56 | 233.56 | 212.10 | 188.97 | 173.59 | 158.00 |
Operating CF per Share |
36.77 | 29.26 | 31.64 | 29.59 | 33.36 | 29.23 | 25.93 | 11.03 | 22.50 | 17.34 |
Capex per Share |
(7.09) | (7.07) | (6.76) | (6.33) | (5.51) | (6.31) | (5.26) | (4.49) | (4.09) | (3.55) |
Free Cash Flow per Share |
29.69 | 22.19 | 24.89 | 23.25 | 27.85 | 22.92 | 20.66 | 6.54 | 18.41 | 13.79 |
Cash per Share |
17.71 | 10.42 | 5.76 | 9.66 | 13.04 | 11.29 | 5.37 | 2.71 | 9.94 | 6.14 |
Shareholders Equity per Share |
28.88 | 26.58 | 27.31 | 35.14 | 39.65 | 21.56 | 11.24 | 5.09 | (2.70) | 5.37 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
28.88 | 26.58 | 27.31 | 35.14 | 39.65 | 21.56 | 11.24 | 5.09 | (2.70) | 5.37 |
Free Cash Flow |
6,908.00 | 5,287.00 | 6,229.00 | 6,132.00 | 7,699.00 | 6,417.00 | 5,827.00 | 1,860.00 | 5,299.00 | 4,126.00 |
Working Capital |
2,027.00 | 2,429.00 | 3,584.00 | 5,104.00 | 5,818.00 | 5,445.00 | 3,123.00 | 1,705.00 | 4,592.00 | 2,566.00 |
Capital Expenditures |
(1,649.00) | (1,685.00) | (1,691.00) | (1,670.00) | (1,522.00) | (1,766.00) | (1,484.00) | (1,278.00) | (1,177.00) | (1,063.00) |
Net Current Asset Value |
(27,757.00) | (27,435.00) | (25,100.00) | (22,623.00) | (20,099.00) | (25,294.00) | (27,262.00) | (27,324.00) | (29,891.00) | (31,092.00) |
EV/EBIT |
16.83 | 19.05 | 15.30 | 16.64 | 11.77 | 12.54 | 14.15 | 11.98 | 15.28 | 15.08 |
Capex to Sales |
0.02 | 0.02 | 0.03 | 0.03 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 |
Price to Operating Income |
14.56 | 16.51 | 13.42 | 15.08 | 10.77 | 11.50 | 12.85 | 10.16 | 13.59 | 12.88 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.19 | 0.18 | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.21 | 0.22 |
Cash ROIC |
21.23% | 18.18% | 24.20% | 22.41% | 28.98% | 30.03% | 33.61% | 11.39% | 32.41% | 23.28% |
Accounts Receivable Turnover |
24.01 | 31.69 | 29.14 | 29.54 | 34.02 | 30.31 | 25.02 | 22.83 | 9.55 | 6.12 |
Accounts Payable Turnover |
23.04 | 28.28 | 26.68 | 39.83 | 69.86 | 52.52 | 27.94 | 24.03 | 27.94 | 24.66 |
Inventory Turnover |
19.27 | 19.41 | 19.00 | 19.01 | 17.77 | 15.84 | 15.55 | 15.83 | 11.55 | 8.83 |
Average Days of Payables |
19.65 | 12.65 | 14.28 | 13.39 | 4.91 | 5.66 | 9.09 | 18.86 | 12.28 | 14.40 |
Days of Inventory on Hand |
19.08 | 19.78 | 19.35 | 19.54 | 18.77 | 22.80 | 25.68 | 23.53 | 24.10 | 40.69 |
Average Receivables |
3,126.00 | 2,241.50 | 2,318.50 | 2,234.00 | 1,970.50 | 2,157.50 | 2,390.50 | 2,354.50 | 5,233.50 | 7,728.00 |
Average Payables |
2,926.00 | 2,267.00 | 2,214.50 | 1,448.50 | 830.00 | 1,080.50 | 1,841.50 | 1,934.50 | 1,560.00 | 1,699.00 |
Average Inventory |
3,499.00 | 3,303.00 | 3,110.00 | 3,034.50 | 3,263.00 | 3,582.00 | 3,308.00 | 2,937.50 | 3,774.00 | 4,744.50 |
Average Assets |
57,728.50 | 54,036.50 | 52,668.00 | 51,876.50 | 50,791.50 | 49,119.00 | 46,202.00 | 45,748.00 | 47,213.00 | 48,555.00 |
Average Common Equity |
6,527.00 | 6,584.00 | 8,050.50 | 10,112.50 | 8,498.50 | 4,604.50 | 2,310.00 | 336.50 | 415.00 | 2,351.50 |
Columns are period end dates