Saturday 31 October 2026 Export LMT’s income statement to Excel — free account

Lockheed Martin Corporation

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.

638.93 4.66 −0.72%

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Market cap: $148.7B
P/E: 23.4×
Fwd P/E: 19.7×
Dividend yield: 2.16%
F-score: 6/9
Altman Z: 3.32
Beneish M: −2.24
Dividend safety: 76/100

Overview Business Profile Financial Analysis Segments Filings

Lockheed Martin Corporation (LMT) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Aeronautics	30,257	40.32%
RMS	17,312	23.07%
MFC	14,450	19.25%
Space	13,029	17.36%
Gross margin		10.15%
Operating margin		10.30%
Pre-tax margin		7.89%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Products	62,654 83.49%	59,277 83.44%	56,265 83.27%	55,466 84.06%	56,435 84.18%	54,928 83.99%	50,053 83.68%	45,005 83.71%	42,502 85.07%	40,081 84.76%
Services	12,394 16.51%	11,766 16.56%	11,306 16.73%	10,518 15.94%	10,609 15.82%	10,470 16.01%	9,759 16.32%	8,757 16.29%	7,458 14.93%	7,209 15.24%
Revenue	75,048	71,043	67,571	65,984	67,044	65,398	59,812	53,762	49,960	47,290

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other Unallocated, Net	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Aeronautics	30,257 40.32%	28,618 40.28%	27,474 40.66%	26,987 40.90%	26,748 39.90%	26,266 40.16%	23,693 39.61%	21,242 39.51%	19,410 38.85%	17,293 36.57%	15,570 38.41%	14,920 37.35%	14,123 31.14%	14,953 31.69%	14,362 30.89%	13,109 28.70%	11,988 27.33%
RMS	17,312 23.07%	17,264 24.30%	16,239 24.03%	16,148 24.47%	16,789 25.04%	15,995 24.46%	15,128 25.29%	14,250 26.51%	13,663 27.35%	13,595 28.75%	9,091 22.43%	8,732 21.86%	9,037 19.92%	7,579 16.06%	7,132 15.34%	7,443 16.30%	—
MFC	14,450 19.25%	12,682 17.85%	11,253 16.65%	11,317 17.15%	11,693 17.44%	11,257 17.21%	10,131 16.94%	8,462 15.74%	7,282 14.58%	6,789 14.36%	6,770 16.70%	7,092 17.75%	6,795 14.98%	7,457 15.80%	7,463 16.05%	6,930 15.17%	—
Space	13,029 17.36%	12,479 17.57%	12,605 18.65%	11,532 17.48%	11,814 17.62%	11,880 18.17%	10,860 18.16%	9,808 18.24%	9,605 19.23%	9,613 20.33%	9,105 22.46%	9,202 23.04%	9,288 20.48%	8,347 17.69%	8,161 17.55%	8,268 18.10%	8,650 19.72%
Information Systems and Global Solutions	—	—	—	—	—	—	—	—	—	—	—	—	6,115 13.48%	8,846 18.75%	9,381 20.17%	9,921 21.72%	9,599 21.88%
Electronic Systems	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	13,630 31.07%
Revenue	75,048	71,043	67,571	65,984	67,044	65,398	59,812	53,762	49,960	47,290	40,536	39,946	45,358	47,182	46,499	45,671	43,867

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Aeronautics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
MFC	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Space	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
RMS	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Information Systems and Global Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Business Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Reportable Segment [Member] (Deprecated 2013-01-31)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electronic Systems	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
United States	53,705 71.56%	52,528 73.94%	49,927 73.89%	49,053 74.34%	48,605 72.50%	49,012 74.94%	43,281 72.36%	38,606 71.81%	35,626 71.31%	34,611 73.19%
Europe	8,805 11.73%	7,716 10.86%	7,011 10.38%	6,267 9.50%	6,760 10.08%	6,334 9.69%	5,928 9.91%	5,403 10.05%	4,833 9.67%	3,777 7.99%
Asia Pacific	7,815 10.41%	6,241 8.78%	5,851 8.66%	5,479 8.30%	6,108 9.11%	5,176 7.91%	5,826 9.74%	5,280 9.82%	4,775 9.56%	3,710 7.85%
Middle East	2,864 3.82%	3,075 4.33%	3,554 5.26%	3,796 5.75%	4,253 6.34%	3,940 6.02%	3,944 6.59%	3,602 6.70%	3,767 7.54%	3,737 7.90%
Other	1,859 2.48%	1,483 2.09%	1,228 1.82%	1,389 2.11%	1,318 1.97%	936 1.43%	833 1.39%	871 1.62%	959 1.92%	1,455 3.08%
Revenue	75,048	71,043	67,571	65,984	67,044	65,398	59,812	53,762	49,960	47,290

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Aeronautics backlog	Q1 FY2026	$55.0B	—	—
C-130J aircraft deliveries	Q3 FY2026	2.00	—	—
F-16 aircraft deliveries	Q3 FY2026	4.00	5.00	−20.00%
F-35 aircraft deliveries	Q3 FY2026	43.00	46.00	−6.52%
Government helicopter program deliveries	Q3 FY2026	16.00	22.00	−27.27%
International military helicopter program deliveries	Q3 FY2026	7.00	6.00	+16.67%
Missiles and Fire Control backlog	Q3 FY2026	$142.5B	$45.9B	+210.45%
Remaining performance obligations	Q3 FY2026	$292.0B	$179.1B	+63.04%
Rotary and Mission Systems backlog	Q3 FY2026	$49.4B	$47.3B	+4.58%
Space backlog	Q3 FY2026	$42.7B	$38.4B	+11.23%
Total backlog	Q1 FY2026	$186.4B	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Aeronautics backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
C-130J aircraft deliveries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
F-16 aircraft deliveries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
F-35 aircraft deliveries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Government helicopter program deliveries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
International military helicopter program deliveries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Missiles and Fire Control backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rotary and Mission Systems backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Space backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.