LMT Lockheed Martin

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Industrials

· How we analyze

About the company

Lockheed Martin is a US defense company. It builds fighter jets such as the F-35, missiles and defense systems, helicopters (Sikorsky) and satellites and space technology. Its main customer is the US government, plus allied countries. As of Oct 13, 2026

Fact sheet (from the annual report) Missiles, guided weapons and space · Bethesda, USA

Lockheed Martin is an aerospace and defense technology company whose main customers are US government agencies and allies. The Aeronautics segment develops, builds and services military aircraft such as the F-35 and C-130. Missiles and Fire Control supplies air and missile defense such as PAC-3 and THAAD as well as tactical missiles and precision weapons. Rotary and Mission Systems comprises Sikorsky helicopters such as the Black Hawk as well as the Aegis combat system for warships. The Space segment develops and builds satellites, the Trident II D5 missile and the crewed Orion spacecraft.

Automatically summarized from SEC annual report (10-K, filed Jan 29, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

What the methods say about Lockheed Martin

Calculated automatically by fixed rules – not investment advice, check for yourself. How we analyze

Price performance at a glance

Last 30 trading days
  • Today −1.9%
  • 7 days +13.5%
  • 30 days +19.9%
  • 1 year +28.0%
Day range (last trading day)
0.0%Price at 3% of the range+1.7%
52-week range
−29.8%Price at 73% of the range+11.1%
Distance from the all-time high
−10.0%

Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

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Symbol on TradingView: NYSE:LMT

Fundamental analysis

Lockheed Martin · Sector Industrials · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Jan 29, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality Profitability, consistency, balance sheet 3 of 8 criteria met Growth Revenue and earnings per share 2 of 7 criteria met Dividend Level, consistency, coverage 6 of 7 criteria met Financial strength Piotroski, debt, liquidity 4 of 6 criteria met

Quality 3 of 8 met

  • not met: Gross margin above 40% 10.2%
  • not met: Operating margin above 15% 10.3%
  • not met: Net margin above 10% 6.7%
  • met: Return on equity above 15% 74.6%
  • not met: Free cash flow margin above 10% 9.2%
  • met: Profit in each of the last 5 fiscal years 5 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • not met: Equity ratio above 30% 11.2%
Gross margin

10.2% Fiscal year 2025

Rank 6 of 100: higher than 6% of 153 peers (All). weak.

Rank 16 of 100: higher than 16% of 22 peers (Sector). weak.

Median Industrials: 35.4%

Share of revenue left after the direct cost of the products sold.

Operating margin

10.3% Fiscal year 2025

Rank 39 of 100: higher than 39% of 192 peers (All). medium.

Rank 48 of 100: higher than 48% of 28 peers (Sector). medium.

Median Industrials: 10.4%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

6.7% Fiscal year 2025

Rank 29 of 100: higher than 29% of 237 peers (All). weak.

Rank 28 of 100: higher than 28% of 34 peers (Sector). weak.

Median Industrials: 12.9%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

74.6% Fiscal year 2025

Rank 93 of 100: higher than 93% of 218 peers (All). strong.

Rank 92 of 100: higher than 92% of 32 peers (Sector). strong.

Median Industrials: 26.3%

Net income divided by equity at fiscal year end.

Return on assets

8.4% Fiscal year 2025 (total assets at year end)

Rank 64 of 100: higher than 64% of 238 peers (All). medium.

Rank 60 of 100: higher than 60% of 34 peers (Sector). medium.

Median Industrials: 7.5%

Net income divided by total assets at fiscal year end.

Equity ratio

11.2% Fiscal year 2025

Rank 16 of 100: higher than 16% of 239 peers (All). weak.

Rank 10 of 100: higher than 10% of 34 peers (Sector). weak.

Median Industrials: 33.2%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

9.2% Fiscal year 2025

Rank 40 of 100: higher than 40% of 213 peers (All). medium.

Rank 45 of 100: higher than 45% of 32 peers (Sector). medium.

Median Industrials: 10.5%

Free cash flow divided by revenue.

Free cash flow

6.9B USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 2 of 7 met

  • not met: Over 3 years, revenue grew by more than 5% per year +4.4%
  • not met: Over 5 years, revenue grew by more than 5% per year +2.8%
  • not met: Over 10 years, revenue grew by more than 5% per year +5.0%
  • not met: Over 3 years, EPS grew by more than 5% per year −0.3%
  • not met: Over 5 years, EPS grew by more than 5% per year −2.4%
  • met: Revenue rose in at least 4 of the last 5 fiscal years 4 of 5
  • met: Revenue rose in the last fiscal year +5.6%
Revenue growth 3 years

+4.4% per year

Rank 34 of 100: higher than 34% of 230 peers (All). medium.

Rank 36 of 100: higher than 36% of 32 peers (Sector). medium.

Median Industrials: +8.5%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+2.8% per year

Rank 12 of 100: higher than 12% of 217 peers (All). weak.

Rank 18 of 100: higher than 18% of 30 peers (Sector). weak.

Median Industrials: +9.2%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+5.0% per year

Rank 36 of 100: higher than 36% of 157 peers (All). medium.

Rank 64 of 100: higher than 64% of 21 peers (Sector). medium.

Median Industrials: +4.5%

Average growth per year over 10 fiscal years.

EPS growth 3 years

−0.3% per year

Rank 23 of 100: higher than 23% of 157 peers (All). weak.

Rank 24 of 100: higher than 24% of 23 peers (Sector). weak.

Median Industrials: +10.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 5 years

−2.4% per year

Rank 10 of 100: higher than 10% of 146 peers (All). weak.

Rank 7 of 100: higher than 7% of 21 peers (Sector). weak.

Median Industrials: +13.7%

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 10 years

+6.5% per year

Rank 35 of 100: higher than 35% of 140 peers (All). medium.

Rank 36 of 100: higher than 36% of 21 peers (Sector). medium.

Median Industrials: +8.1%

Growth of earnings per share per year, adjusted for stock splits.

Dividend 6 of 7 met

  • met: Pays a dividend 13.35 USD
  • not met: Payout ratio at most 60% of earnings 62%
  • met: Dividend paid in each of the last 5 fiscal years 5 of 5
  • met: Dividend per share never lowered in the last 5 fiscal years Dividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut. never
  • met: Dividend per share higher than 5 years ago +6.4%
  • met: Free cash flow per share covers the dividend 2.2x
  • met: Dividends paid over the last 5 years covered by free cash flow 47% of free cash flow
Payout ratio

62% Fiscal year 2025

Dividend per share divided by earnings per share.

Dividend growth 5 years

+6.4% per year

Rank 30 of 100: higher than 30% of 118 peers (All). weak.

Rank 18 of 100: higher than 18% of 20 peers (Sector). weak.

Median Industrials: +7.7%

Growth of the dividend per share per year.

Free cash flow coverage

2.2x Fiscal year 2025

Free cash flow per share divided by dividend per share. From 1x the dividend is covered.

Financial strength 4 of 6 met

  • not met: Piotroski F-Score at least 7 of 9 6 of 9
  • not met: Long-term debt no higher than equity 3.23
  • met: Current assets cover current liabilities 1.09
  • met: Positive equity 6.7B USD
  • met: In 5 years, share count up by at most 5% −17.0%
  • met: Free cash flow positive in the last fiscal year 6.9B USD
Piotroski F-Score

6 of 9 Fiscal year 2025

Rank 45 of 100: higher than 45% of 134 peers (All). medium.

Rank 45 of 100: higher than 45% of 20 peers (Sector). medium.

Median Industrials: 6.0 of 9

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

3.23 at fiscal year end

Rank 5 of 100: lower than 5% of 199 peers (All). weak.

Rank 8 of 100: lower than 8% of 32 peers (Sector). weak.

Median Industrials: 0.62

Long-term financial debt divided by equity.

Liquidity (current ratio)

1.09 at fiscal year end

Rank 33 of 100: higher than 33% of 215 peers (All). medium.

Rank 35 of 100: higher than 35% of 33 peers (Sector). medium.

Median Industrials: 1.22

Current assets divided by current liabilities.

Change in share count

−17.0% in 5 years

Rank 93 of 100: lower than 93% of 199 peers (All). strong.

Rank 95 of 100: lower than 95% of 29 peers (Sector). strong.

Median Industrials: −5.4%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • not met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • met: Long-term debt relative to total assets fell
  • not met: Liquidity (current assets / current liabilities) rose
  • met: No additional shares (diluted share count did not rise)
  • met: Gross margin higher than the prior year
  • not met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light yellow: Revenue grew over 5 years (+2.8% per year), more slowly than the sector median.
  • Light red: Net income (total) shrank over 5 years (−6.0% per year); per share −2.4% per year.
  • Light yellow: Net margin 6.7%, below the sector median (11.1%).
  • Light red: Debt much higher than usual in the sector.
  • Light green: Profit in each of the last 10 fiscal years.
  • Light yellow: High payout ratio (62% of earnings).

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 47.3B USD · Net income 5.3B USD · Net margin 11.2%
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 50.0B USD · Net income 2.0B USD · Net margin 4.0%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 53.8B USD · Net income 5.0B USD · Net margin 9.4%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 59.8B USD · Net income 6.2B USD · Net margin 10.4%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 65.4B USD · Net income 6.8B USD · Net margin 10.4%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 67.0B USD · Net income 6.3B USD · Net margin 9.4%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 66.0B USD · Net income 5.7B USD · Net margin 8.7%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 67.6B USD · Net income 6.9B USD · Net margin 10.2%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 71.0B USD · Net income 5.3B USD · Net margin 7.5%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 75.0B USD · Net income 5.0B USD · Net margin 6.7%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 75.0B USD · Net income 5.0B USD · Net margin 6.7%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 10.2 USD gross profit, 10.3 USD operating income and 6.7 USD net income remained.

Operating income is above gross profit (other operating income).

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue75.0B USD100.0%
Gross profit7.6B USD10.2%
Cost of revenue67.4B USD89.8%
Operating income7.7B USD10.3%
Net income5.0B USD6.7%
Interest expense1.1B USD1.5%
Taxes905.0M USD1.2%
Other691.0M USD0.9%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin fell in 5 years from 13.2% to 10.3%.

Gross marginOperating marginNet margin
  1. Fiscal year 2016: Gross margin 10.7% · Operating margin 11.7% · Net margin 11.2%
  2. Fiscal year 2017: Gross margin 11.1% · Operating margin 11.9% · Net margin 4.0%
  3. Fiscal year 2018: Gross margin 13.5% · Operating margin 13.6% · Net margin 9.4%
  4. Fiscal year 2019: Gross margin 14.0% · Operating margin 14.3% · Net margin 10.4%
  5. Fiscal year 2020: Gross margin 13.2% · Operating margin 13.2% · Net margin 10.4%
  6. Fiscal year 2021: Gross margin 13.5% · Operating margin 13.6% · Net margin 9.4%
  7. Fiscal year 2022: Gross margin 12.6% · Operating margin 12.7% · Net margin 8.7%
  8. Fiscal year 2023: Gross margin 12.5% · Operating margin 12.6% · Net margin 10.2%
  9. Fiscal year 2024: Gross margin 9.8% · Operating margin 9.9% · Net margin 7.5%
  10. Fiscal year 2025: Gross margin 10.2% · Operating margin 10.3% · Net margin 6.7%

Returns

Return on equity fell in 5 years from 113.6% to 74.6%.

Return on equityReturn on assets Return on equity hidden where equity is below 5% of total assets.
  1. Fiscal year 2016: Return on equity not available · Return on assets 11.1%
  2. Fiscal year 2017: Return on equity not available · Return on assets 4.3%
  3. Fiscal year 2018: Return on equity not available · Return on assets 11.2%
  4. Fiscal year 2019: Return on equity 199.2% · Return on assets 13.1%
  5. Fiscal year 2020: Return on equity 113.6% · Return on assets 13.5%
  6. Fiscal year 2021: Return on equity 57.6% · Return on assets 12.4%
  7. Fiscal year 2022: Return on equity 61.9% · Return on assets 10.8%
  8. Fiscal year 2023: Return on equity 101.2% · Return on assets 13.2%
  9. Fiscal year 2024: Return on equity 84.3% · Return on assets 9.6%
  10. Fiscal year 2025: Return on equity 74.6% · Return on assets 8.4%

Equity and long-term debt

The equity ratio stayed roughly the same in 5 years (11.2%).

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2016: Equity 1.5B USD · Long-term debt 14.3B USD
  2. Fiscal year 2017: Equity −683.0M USD · Long-term debt 14.3B USD
  3. Fiscal year 2018: Equity 1.4B USD · Long-term debt 14.1B USD
  4. Fiscal year 2019: Equity 3.1B USD · Long-term debt 12.7B USD
  5. Fiscal year 2020: Equity 6.0B USD · Long-term debt 12.2B USD
  6. Fiscal year 2021: Equity 11.0B USD · Long-term debt 11.7B USD
  7. Fiscal year 2022: Equity 9.3B USD · Long-term debt 15.5B USD
  8. Fiscal year 2023: Equity 6.8B USD · Long-term debt 17.5B USD
  9. Fiscal year 2024: Equity 6.3B USD · Long-term debt 20.3B USD
  10. Fiscal year 2025: Equity 6.7B USD · Long-term debt 21.7B USD

Liquidity (current ratio)

The current ratio fell in 5 years from 1.39 to 1.09.

Current ratio
  1. Fiscal year 2016: Current ratio 1.20
  2. Fiscal year 2017: Current ratio 1.38
  3. Fiscal year 2018: Current ratio 1.12
  4. Fiscal year 2019: Current ratio 1.22
  5. Fiscal year 2020: Current ratio 1.39
  6. Fiscal year 2021: Current ratio 1.42
  7. Fiscal year 2022: Current ratio 1.32
  8. Fiscal year 2023: Current ratio 1.21
  9. Fiscal year 2024: Current ratio 1.13
  10. Fiscal year 2025: Current ratio 1.09

Cash flow

Free cash flow rose in 5 years from 6.4B USD to 6.9B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2016: Operating cash flow 5.2B USD · Capital expenditure 1.1B USD · Free cash flow 4.1B USD
  2. Fiscal year 2017: Operating cash flow 6.5B USD · Capital expenditure 1.2B USD · Free cash flow 5.3B USD
  3. Fiscal year 2018: Operating cash flow 3.1B USD · Capital expenditure 1.3B USD · Free cash flow 1.9B USD
  4. Fiscal year 2019: Operating cash flow 7.3B USD · Capital expenditure 1.5B USD · Free cash flow 5.8B USD
  5. Fiscal year 2020: Operating cash flow 8.2B USD · Capital expenditure 1.8B USD · Free cash flow 6.4B USD
  6. Fiscal year 2021: Operating cash flow 9.2B USD · Capital expenditure 1.5B USD · Free cash flow 7.7B USD
  7. Fiscal year 2022: Operating cash flow 7.8B USD · Capital expenditure 1.7B USD · Free cash flow 6.1B USD
  8. Fiscal year 2023: Operating cash flow 7.9B USD · Capital expenditure 1.7B USD · Free cash flow 6.2B USD
  9. Fiscal year 2024: Operating cash flow 7.0B USD · Capital expenditure 1.7B USD · Free cash flow 5.3B USD
  10. Fiscal year 2025: Operating cash flow 8.6B USD · Capital expenditure 1.6B USD · Free cash flow 6.9B USD

Share count

The share count fell in 5 years by 17.0% (mostly through share repurchases).

Diluted share count
  1. Fiscal year 2016: Diluted share count 303.1M
  2. Fiscal year 2017: Diluted share count 290.6M
  3. Fiscal year 2018: Diluted share count 286.8M
  4. Fiscal year 2019: Diluted share count 283.8M
  5. Fiscal year 2020: Diluted share count 281.2M
  6. Fiscal year 2021: Diluted share count 277.4M
  7. Fiscal year 2022: Diluted share count 264.6M
  8. Fiscal year 2023: Diluted share count 251.2M
  9. Fiscal year 2024: Diluted share count 239.2M
  10. Fiscal year 2025: Diluted share count 233.5M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
13.35 USD · Fiscal year 2025
Dividend growth per year
3 y +5.4%5 y +6.4%10 y +8.1%
Years without a cut
at least 10 as far as the data goes
Payout ratio
of earnings 62% of free cash flow 45%
To shareholders (5 years)
39.9B USD 62% through repurchases
Share count over 5 years
−17.0% fewer shares – each share is a larger stake

Dividend per share

The dividend per share rose in 5 years from 9.80 USD to 13.35 USD.

Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.
  1. Fiscal year 2016: Dividend per share 6.77 USD
  2. Fiscal year 2017: Dividend per share 7.46 USD
  3. Fiscal year 2018: Dividend per share 8.20 USD
  4. Fiscal year 2019: Dividend per share 9.00 USD
  5. Fiscal year 2020: Dividend per share 9.80 USD
  6. Fiscal year 2021: Dividend per share 10.60 USD
  7. Fiscal year 2022: Dividend per share 11.40 USD
  8. Fiscal year 2023: Dividend per share 12.15 USD
  9. Fiscal year 2024: Dividend per share 12.75 USD
  10. Fiscal year 2025: Dividend per share 13.35 USD

Payout ratios

The payout ratio rose in 5 years from 40.3% to 62.1%.

Payout ratio (earnings)Payout ratio (free cash flow)
  1. Fiscal year 2016: Payout ratio (earnings) 38.7% · Payout ratio (free cash flow) 49.6%
  2. Fiscal year 2017: Payout ratio (earnings) 108.3% · Payout ratio (free cash flow) 40.8%
  3. Fiscal year 2018: Payout ratio (earnings) 46.6% · Payout ratio (free cash flow) 126.2%
  4. Fiscal year 2019: Payout ratio (earnings) 41.0% · Payout ratio (free cash flow) 43.9%
  5. Fiscal year 2020: Payout ratio (earnings) 40.3% · Payout ratio (free cash flow) 43.1%
  6. Fiscal year 2021: Payout ratio (earnings) 46.6% · Payout ratio (free cash flow) 38.2%
  7. Fiscal year 2022: Payout ratio (earnings) 52.6% · Payout ratio (free cash flow) 49.2%
  8. Fiscal year 2023: Payout ratio (earnings) 44.1% · Payout ratio (free cash flow) 49.1%
  9. Fiscal year 2024: Payout ratio (earnings) 57.1% · Payout ratio (free cash flow) 57.9%
  10. Fiscal year 2025: Payout ratio (earnings) 62.1% · Payout ratio (free cash flow) 45.3%

What goes back to shareholders

Over 5 years, 39.9B USD went back to shareholders, 62% of it through share repurchases. That is 124% of the free cash flow of those years.

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2016: Dividends paid 2.0B USD · Share repurchases 2.1B USD · New shares issued (including employee plans) not available · Free cash flow 4.1B USD
  2. Fiscal year 2017: Dividends paid 2.2B USD · Share repurchases 2.0B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
  3. Fiscal year 2018: Dividends paid 2.3B USD · Share repurchases 1.5B USD · New shares issued (including employee plans) not available · Free cash flow 1.9B USD
  4. Fiscal year 2019: Dividends paid 2.6B USD · Share repurchases 1.2B USD · New shares issued (including employee plans) not available · Free cash flow 5.8B USD
  5. Fiscal year 2020: Dividends paid 2.8B USD · Share repurchases 1.1B USD · New shares issued (including employee plans) not available · Free cash flow 6.4B USD
  6. Fiscal year 2021: Dividends paid 2.9B USD · Share repurchases 4.1B USD · New shares issued (including employee plans) not available · Free cash flow 7.7B USD
  7. Fiscal year 2022: Dividends paid 3.0B USD · Share repurchases 7.9B USD · New shares issued (including employee plans) not available · Free cash flow 6.1B USD
  8. Fiscal year 2023: Dividends paid 3.1B USD · Share repurchases 6.0B USD · New shares issued (including employee plans) not available · Free cash flow 6.2B USD
  9. Fiscal year 2024: Dividends paid 3.1B USD · Share repurchases 3.7B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
  10. Fiscal year 2025: Dividends paid 3.1B USD · Share repurchases 3.0B USD · New shares issued (including employee plans) not available · Free cash flow 6.9B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

Lockheed Martin next to 8 stocks of the sector Industrials we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison LMT, sector Industrials; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
BA Boeing 89.5B USD +9.0%4.8%4.8%2.5%–3.2%−2.1%6/9
UPS United Parcel Service 88.7B USD +0.9%–8.9%6.3%34.3%22.2%5.4%–
RTX RTX Corporation 88.6B USD +9.4%–10.5%7.6%10.3%38.1%9.0%–
LMT Lockheed Martin this stock 75.0B USD +2.8%10.2%10.3%6.7%74.6%11.2%9.2%6/9
CAT Caterpillar Inc. 67.6B USD +10.1%33.8%16.5%13.1%41.7%21.6%13.2%7/9
UAL United Airlines Holdings 59.1B USD +30.9%–8.0%5.7%21.9%20.0%4.3%–
GD General Dynamics 52.6B USD +6.7%–10.2%8.0%16.4%44.8%7.5%–
UBER Uber 52.0B USD +36.1%39.8%10.7%19.3%37.2%43.8%18.8%6/9
GE GE Aerospace 45.9B USD −10.4%––19.0%46.6%14.3%15.8%–
Median of the sector 34 symbols 24.1B USD +9.2%35.4%10.4%12.9%26.3%33.2%9.7%6/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 90 symbols in the Industrials sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light yellow: below sector

+2.8% per year, last 5 years

Sector Industrials: median +8.0% (82 symbols)

What does this mean? Revenue: over 5 years it grew by 2.8% per year on average, but more slowly than the median company in the sector (+8.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light red: shrinking

−6.0% per year, last 5 years

Sector Industrials: median +10.0% (66 symbols)

per share: −2.4% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it fell by 6.0% per year on average. The median company in the sector reached +10.0% per year.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light yellow: below sector

6.7% last fiscal year

Sector Industrials: median 11.1% (88 symbols)

What does this mean? Of every 100 USD in revenue, 6.69 USD remained as profit – less than the median company in the sector (11.1%). Five years ago the margin was 10.4%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light red: much higher

2.04 latest balance sheet

Sector Industrials: median 0.58 (77 symbols)

What does this mean? For every 1 USD of equity there is 2.04 USD of financial debt – more than twice as much as the median company in the sector (0.58). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light yellow: high

62% Dividend / earnings per share

Sector Industrials: median 35% (65 symbols)

What does this mean? Of every 1 USD of earnings per share, 0.62 USD went to shareholders as a dividend. Little buffer remains for weaker years. Median company in the sector: 35%.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light green: profit every year

10 of 10 fiscal years with a profit

What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
75.0B USD
Revenue vs. prior year
+5.6%
Net income (FY)
5.0B USD
Net income vs. prior year
−6.0%
EPS (FY)
21.49 USD
13F funds with a position
2 of 9
Funds vs. prior quarter
+1
Shares held vs. prior quarter
−53.1%
Fiscal year to Dec 31, 2025 · 10-K filed Jan 29, 2026 · Balance sheet Sep 27, 2026 (filed Oct 22, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 75.0B5.0B 6.7% 21.49 13.35 62%
2024Dec 31, 2024 71.0B5.3B 7.5% 22.31 12.75 57%
2023Dec 31, 2023 67.6B6.9B 10.2% 27.55 12.15 44%
2022Dec 31, 2022 66.0B5.7B 8.7% 21.66 11.40 53%
2021Dec 31, 2021 67.0B6.3B 9.4% 22.76 10.60 47%
2020Dec 31, 2020 65.4B6.8B 10.4% 24.30 9.80 40%
2019Dec 31, 2019 59.8B6.2B 10.4% 21.95 9.00 41%
2018Dec 31, 2018 53.8B5.0B 9.4% 17.59 8.20 47%
2017Dec 31, 2017 50.0B2.0B 4.0% 6.89 7.46 108%
2016Dec 31, 2016 47.3B5.3B 11.2% 17.49 6.77 39%
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q3/26Sep 27, 2026 20.7B1.8B 8.9% 7.97 3.45 43%
Q2/26Jun 28, 2026 20.1B1.8B 9.2% 7.94 3.45 43%
Q1/26Mar 29, 2026 18.0B1.5B 8.3% 6.44 3.45 54%
Q4/25*Dec 31, 2025 20.3B1.3B 6.6% – 3.45 –
Q3/25Sep 28, 2025 18.6B1.6B 8.7% 6.95 3.30 47%
Q2/25Jun 29, 2025 18.2B342.0M 1.9% 1.46 3.30 226%
Q1/25Mar 30, 2025 18.0B1.7B 9.5% 7.28 3.30 45%
Q4/24*Dec 31, 2024 18.6B527.0M 2.8% – 3.30 –
Q3/24Sep 29, 2024 17.1B1.6B 9.5% 6.80 3.15 46%
Q2/24Jun 30, 2024 18.1B1.6B 9.1% 6.85 3.15 46%
Q1/24Mar 31, 2024 17.2B1.5B 9.0% 6.39 3.15 49%
Q4/23*Dec 31, 2023 18.9B1.9B 9.9% – 3.15 –

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $117.6K3 people −$117.6K
6 months $00 people $117.6K3 people −$117.6K
12 months $00 people $124.3K6 people −$124.3K

Latest transactions

  • Oct 23, 2026 St John Frank A Officer Open-market sale 2,019 shares · – · SEC
  • Oct 23, 2026 St John Frank A Officer Open-market sale 1,160 shares · – · SEC
  • Oct 23, 2026 St John Frank A Officer Open-market sale 720 shares · – · SEC
  • Aug 13, 2026 Donovan John Director Open-market sale 1,742 shares · – · SEC
  • Aug 13, 2026 Donovan John Director Open-market sale 631 shares · – · SEC
  • Aug 13, 2026 Donovan John Director Open-market sale 469 shares · – · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score +60

Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+15
Highs and lows-20
Relative strength+15

Volatility and trend strength

ADX 14 (trend strength)41.2
Rel. strength 60 d+5.2%

ATR and moving averages as price values only when logged in.

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All symbols in this sector

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