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) Return on invested capital
Lockheed Martin Corporation's return on invested capital over the twelve months to 30 June 2026 was 22.4%, up 2.5 percentage points from fiscal 2025 (19.9%). Over the past ten years it has ranged from 17.1% (fiscal 2015) to 39.7% (fiscal 2017); the current reading is higher than 27% of that period. That is above the Aerospace & Defense industry median of 1.56% and above the Industrials sector median of 2.30%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 19.9% | 1.71 |
| FY2024 | 18.2% | (5.10) |
| FY2023 | 23.3% | (0.16) |
| FY2022 | 23.4% | (6.03) |
| FY2021 | 29.5% | (6.44) |
| FY2020 | 35.9% | (1.42) |
| FY2019 | 37.3% | 6.31 |
| FY2018 | 31.0% | (8.66) |
| FY2017 | 39.7% | 13.48 |
| FY2016 | 26.2% | 9.14 |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| GE GE Aerospace compare | 26.5% |
| LMT Lockheed Martin Corporation | 22.4% |
| HWM Howmet Aerospace Inc. compare | 16.9% |
| TDG Transdigm Group Incorporated compare | 14.3% |
| GD General Dynamics Corporation compare | 11.8% |
| NOC Northrop Grumman Corporation compare | 9.58% |
| BA The Boeing Company compare | 8.99% |
| RTX RTX Corporation compare | 6.74% |
| LHX L3Harris Technologies Inc compare | 5.12% |
| Aerospace & Defense industry median | 1.56% |
| Industrials sector median | 2.30% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
More on LMT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow 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
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
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