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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%
Market cap
$122.9B
P/E
20.3×
Fwd P/E
17.5×
Dividend yield
2.50%
F-score
6/9
Altman Z
3.32
Beneish M
−2.24
Dividend safety
76/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Lockheed Martin Corporation (LMT) Price to free cash flow

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As of 16 October 2026, Lockheed Martin Corporation (LMT) trades at a price to free cash flow of 14.6×. Over the past ten years it has ranged from 11.9× (September 2022) to 89.9× (October 2018); the current reading is higher than 6% of that period. That is below the Aerospace & Defense industry median of 32.0× and below the Industrials sector median of 20.1×.

Price to free cash flow, daily

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Annual newest first

Period Price to free cash flow Change
FY2025 16.3× (25.61%)
FY2024 21.9× 19.50%
FY2023 18.3× (10.75%)
FY2022 20.5× 60.94%
FY2021 12.8× (17.62%)
FY2020 15.5× (17.80%)
FY2019 18.8× (52.95%)
FY2018 40.1× 131.50%
FY2017 17.3× (5.85%)
FY2016 18.4× 13.50%

Quarterly newest first

Period Price to free cash flow Change
Jun 2026 13.4× (45.25%)
Mar 2026 24.5× 50.62%
Dec 2025 16.3× (35.36%)
Sep 2025 25.2× (22.41%)
42 more quarters

Against its own ten years

Low 11.9× High 89.9×
Ten-year median 19.2×
Current reading's percentile 6

Price to free cash flow against peers

Company Price to free cash flow
BA The Boeing Company compare n/m
GD General Dynamics Corporation compare 14.4×
LMT Lockheed Martin Corporation 14.6×
LHX L3Harris Technologies Inc compare 16.5×
NOC Northrop Grumman Corporation compare 20.3×
RTX RTX Corporation compare 23.8×
TDG Transdigm Group Incorporated compare 33.9×
HWM Howmet Aerospace Inc. compare 43.8×
GE GE Aerospace compare 47.7×
Aerospace & Defense industry median 32.0×
Industrials sector median 20.1×
Market median 14.2×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

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