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.
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Lockheed Martin Corporation (LMT) Free cash flow margin
Lockheed Martin Corporation's free cash flow margin over the twelve months to 30 June 2026 was 11.3%, up 2.1 percentage points from fiscal 2025 (9.20%). Over the past ten years it has ranged from 3.46% (fiscal 2018) to 11.5% (fiscal 2021); the current reading is higher than 36% of that period. That is above the Aerospace & Defense industry median of 1.43% and above the Industrials sector median of 2.43%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | 9.20% | 1.76 |
| FY2024 | 7.44% | (1.78) |
| FY2023 | 9.22% | (0.07) |
| FY2022 | 9.29% | (2.19) |
| FY2021 | 11.5% | 1.67 |
| FY2020 | 9.81% | 0.07 |
| FY2019 | 9.74% | 6.28 |
| FY2018 | 3.46% | (7.15) |
| FY2017 | 10.6% | 1.89 |
| FY2016 | 8.72% | (1.55) |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| HWM Howmet Aerospace Inc. compare | 22.1% |
| TDG Transdigm Group Incorporated compare | 19.3% |
| GE GE Aerospace compare | 16.9% |
| LHX L3Harris Technologies Inc compare | 12.2% |
| RTX RTX Corporation compare | 11.8% |
| GD General Dynamics Corporation compare | 11.8% |
| LMT Lockheed Martin Corporation | 11.3% |
| NOC Northrop Grumman Corporation compare | 8.50% |
| BA The Boeing Company compare | −0.14% |
| Aerospace & Defense industry median | 1.43% |
| Industrials sector median | 2.43% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on LMT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement