LMT
$552.09+3.65%
as of close, Oct 16, 2026
☾ AH $552.09 +3.65%
Lockheed Martin CorporationStock · IndustrialsS&P 500 Equal Weight 0.2%US Stock Market 0.2%S&P 500 0.2%Russell 1000 0.1%Russell 3000 0.1%MSCI World 0.1%MSCI ACWI 0.1%
LMT financial statements
The full income statement, balance sheet, and cash-flow statement for Lockheed Martin Corporation (LMT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 238.4M2024-09 237.0M2024-12 235.4M2025-03 234.3M2025-06 233.5M2025-09 231.4M2025-12 230.1M2026-03 230.6M2026-06 230.8M-3.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 75.0B+5.6% | 71.0B+5.1% | 67.6B+2.4% | 66.0B-1.6% | 67.0B+2.5% | |
| 7.62B+9.9% | 6.93B-18.3% | 8.48B+2.3% | 8.29B-8.5% | 9.06B+4.7% | ||
| Cost of revenue | 67.4B+5.2% | 64.1B+8.5% | 59.1B+2.4% | 57.7B-0.5% | 58.0B+2.2% | |
| Research & development | 2.00B+25.0% | 1.60B+6.7% | 1.50B-11.8% | 1.70B+13.3% | 1.50B+15.4% | |
| Amortization of intangibles | 254M+0.0% | 254M+2.8% | 247M-0.4% | 248M-13.0% | 285M+5.2% | |
| Operating income | 7.73B+10.2% | 7.01B-17.6% | 8.51B+1.9% | 8.35B-8.5% | 9.12B+5.5% | |
| Interest expense | 1.12B+7.9% | 1.04B+13.1% | 916M+47.0% | 623M+9.5% | 569M-3.7% | |
| Other non-operating income | 183M+1.1% | 181M+182.8% | 64.0M+186.5% | -74.0M-125.7% | 288M+878.4% | |
| Equity-method income | 28.0M-50.0% | 56.0M+40.0% | 40.0M-64.9% | 114M+17.5% | 97.0M-40.5% | |
| Pre-tax income | 5.92B-4.8% | 6.22B-23.2% | 8.10B+21.2% | 6.68B-11.5% | 7.55B-8.3% | |
| Income tax | 905M+2.4% | 884M-25.0% | 1.18B+24.3% | 948M-23.2% | 1.24B-8.3% | |
| 5.02B-6.0% | 5.34B-22.9% | 6.92B+20.7% | 5.73B-9.2% | 6.32B-7.6% | ||
| Income from continuing operations | — | — | — | 5.73B-9.2% | 6.32B-8.3% | |
| Discontinued operations | — | — | — | 0.00 | 0.00+100.0% | |
| $21.49-3.7% | $22.31-19.0% | $27.55+27.2% | $21.66-4.8% | $22.76-6.3% | ||
| EPS (basic) | $21.56-3.7% | $22.39-19.0% | $27.65+27.2% | $21.74-4.9% | $22.85-6.4% | |
| Weighted-avg shares (basic) | 233M-2.3% | 238M-4.8% | 250M-5.1% | 264M-4.6% | 276M-1.3% | |
| Weighted-avg shares (diluted) | 234M-2.4% | 239M-4.8% | 251M-5.1% | 265M-4.6% | 277M-1.4% | |
| Dividends per share | $13.35+4.7% | $12.75+4.9% | $12.15+6.6% | $11.40+7.5% | $10.60+8.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 25.4B+16.1% | 21.8B+6.5% | 20.5B-2.2% | 21.0B+5.9% | 19.8B+2.3% | ||
| Cash & equivalents | 4.12B+66.0% | 2.48B+72.2% | 1.44B-43.4% | 2.55B-29.3% | 3.60B+14.1% | |
| Accounts receivable | 3.90B+65.9% | 2.35B+10.3% | 2.13B-14.9% | 2.50B+27.6% | 1.96B-0.8% | |
| Inventory | 3.52B+1.4% | 3.47B+10.9% | 3.13B+1.4% | 3.09B+3.6% | 2.98B-15.9% | |
| Other current assets | 815M+39.6% | 584M-7.6% | 632M+18.6% | 533M-22.5% | 688M-40.2% | |
| 59.8B+7.6% | 55.6B+6.0% | 52.5B-0.8% | 52.9B+3.9% | 50.9B+0.3% | ||
| Property, plant & equipment | 11.3B+29.4% | 8.73B+4.3% | 8.37B+5.0% | 7.97B+5.0% | 7.60B+5.3% | |
| Operating lease right-of-use | 976M-2.4% | 1.00B-9.1% | 1.10B+0.0% | 1.10B-15.4% | 1.30B+30.0% | |
| Goodwill | 11.3B+2.2% | 11.1B+2.5% | 10.8B+0.2% | 10.8B-0.3% | 10.8B+0.1% | |
| Intangible assets | 1.89B-6.4% | 2.02B-8.9% | 2.21B-10.0% | 2.46B-9.1% | 2.71B-10.2% | |
| Deferred tax assets | 2.98B-16.4% | 3.56B+20.5% | 2.95B-21.1% | 3.74B+63.5% | 2.29B-34.1% | |
| Other non-current assets | 7.01B+7.2% | 6.54B-14.0% | 7.60B+9.7% | 6.93B-9.4% | 7.65B+12.1% | |
| 23.3B+20.2% | 19.4B+14.7% | 16.9B+6.6% | 15.9B+13.5% | 14.0B+0.5% | ||
| Accounts payable | 3.63B+63.4% | 2.22B-3.9% | 2.31B+9.2% | 2.12B+171.4% | 780M-11.4% | |
| Deferred revenue | 11.4B+16.8% | 9.79B+6.6% | 9.19B+8.3% | 8.49B+4.7% | 8.11B+7.4% | |
| Short-term & current debt | 1.17B+81.6% | 643M+282.7% | 168M+42.4% | 118M+1866.7% | 6.00M-98.8% | |
| Other current liabilities | 3.91B+7.6% | 3.63B+70.3% | 2.13B+2.2% | 2.09B+4.3% | 2.00B+8.5% | |
| 53.1B+7.8% | 49.3B+8.0% | 45.6B+4.6% | 43.6B+9.3% | 39.9B-10.7% | ||
| Long-term debt | 20.5B+4.6% | 19.6B+13.5% | 17.3B+12.1% | 15.4B+32.2% | 11.7B+0.0% | |
| Non-current lease liability | 825M-1.0% | 833M-3.4% | 862M-5.9% | 916M-16.7% | 1.10B+30.8% | |
| Operating lease liability (total) | 1.07B-6.7% | 1.15B-2.5% | 1.18B-3.3% | 1.22B-14.7% | 1.43B+27.9% | |
| Other non-current liabilities | 5.34B-2.0% | 5.45B+4.1% | 5.23B-23.4% | 6.83B+15.1% | 5.93B-4.3% | |
| 6.72B+6.1% | 6.33B-7.3% | 6.83B-26.2% | 9.27B-15.4% | 11.0B+82.2% | ||
| Common stock | 229M-2.1% | 234M-2.5% | 240M-5.5% | 254M-6.3% | 271M-2.9% | |
| Additional paid-in capital | 0.00 | 0.00 | 0.00-100.0% | 92.0M-2.1% | 94.0M-57.5% | |
| Retained earnings | 14.0B-3.6% | 14.6B-5.5% | 15.4B-9.1% | 16.9B-21.6% | 21.6B-0.2% | |
| Accumulated other comprehensive income | -7.54B+10.8% | -8.45B+4.0% | -8.80B-9.7% | -8.02B+27.1% | -11.0B+31.7% | |
| Non-controlling interest | — | — | — | — | 0.00-100.0% | |
| Total equity incl. non-controlling | — | — | 6.83B-26.2% | 9.27B-15.4% | 11.0B+81.5% | |
| Total liabilities & equity | 59.8B+7.6% | 55.6B+6.0% | 52.5B-0.8% | 52.9B+3.9% | 50.9B+0.3% | |
| Common shares issued | 230M-2.1% | 235M-2.9% | 242M-5.1% | 255M-6.3% | 272M-2.9% | |
| Common shares outstanding | 229M-2.1% | 234M-2.5% | 240M-5.5% | 254M-6.3% | 271M-2.9% | |
| Shares outstanding (cover) | 230M-2.3% | 235M-2.6% | 242M-5.3% | 255M-6.3% | 272M-2.8% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 8.56B+22.7% | 6.97B-12.0% | 7.92B+1.5% | 7.80B-15.4% | 9.22B+12.7% | ||
| Depreciation & amortization | 1.69B+8.2% | 1.56B+9.0% | 1.43B+1.9% | 1.40B+2.9% | 1.36B+33.9% | |
| Intangible amortization | 254M+0.0% | 254M+2.8% | 247M-0.4% | 248M-13.0% | 285M+5.2% | |
| Share-based compensation | 304M+9.7% | 277M+4.5% | 265M+11.3% | 238M+4.8% | 227M+2.7% | |
| Deferred income taxes | 372M+163.3% | -588M-18.1% | -498M+34.2% | -757M-313.7% | -183M-3760.0% | |
| Change in inventory | 286M-40.2% | 478M+986.4% | 44.0M-58.9% | 107M+119.0% | -564M-662.2% | |
| Change in payables | 1.34B+1541.9% | -93.0M-161.6% | 151M-88.1% | 1.27B+1400.0% | -98.0M+73.7% | |
| -1.98B-10.3% | -1.79B-5.8% | -1.69B+5.3% | -1.79B-54.1% | -1.16B+42.2% | ||
| Capital expenditure | 1.65B-2.1% | 1.69B-0.4% | 1.69B+1.3% | 1.67B+9.7% | 1.52B-13.8% | |
| Free cash flow | 6.91B+30.7% | 5.29B-15.1% | 6.23B+1.6% | 6.13B-20.4% | 7.70B+20.0% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Other investing activities | 328M+206.5% | 107M+3466.7% | 3.00M-97.5% | 119M+133.0% | -361M-248.0% | |
| -4.94B-19.4% | -4.14B+43.5% | -7.33B-3.7% | -7.07B+7.2% | -7.62B-68.2% | ||
| Long-term debt issued | 1.99B-33.2% | 2.97B+50.4% | 1.98B-68.2% | 6.21B | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 3.00B-18.9% | 3.70B-38.3% | 6.00B-24.1% | 7.90B+93.3% | 4.09B+271.5% | |
| Dividends paid | 3.13B+2.4% | 3.06B+0.1% | 3.06B+1.3% | 3.02B+2.6% | 2.94B+6.4% | |
| Other financing activities | -154M+15.4% | -182M-34.8% | -135M-17.4% | -115M-29.2% | -89.0M+38.2% | |
| Net change in cash | 1.64B+57.3% | 1.04B+194.2% | -1.10B-4.5% | -1.06B-338.1% | 444M-73.0% | |
| Interest paid | 1.00B+5.3% | 950M+14.2% | 832M+45.2% | 573M+5.5% | 543M-4.2% | |
| Income taxes paid | 788M-39.4% | 1.30B-27.8% | 1.80B+12.5% | 1.60B+14.3% | 1.40B+0.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 111B-2.7% | 114B+1.7% | 112B-11.8% | 127B+31.7% | 96.8B-2.7% | |
| P/E | 22.2×+3.5% | 21.4×+32.8% | 16.1×-25.7% | 21.7×+41.7% | 15.3×+5.3% | |
| P/S | 1.5×-7.9% | 1.6×-3.1% | 1.7×-15.7% | 2.0×+36.5% | 1.4×-5.0% | |
| P/B | 16.6×-8.3% | 18.1×+49.0% | 12.1×+13.8% | 10.7×+20.6% | 8.8×-46.6% | |
| P/FCF | 16.1×-25.5% | 21.6×+11.6% | 19.4×+30.1% | 14.9×+18.5% | 12.6×-18.9% | |
| Earnings yield | 4.5%-3.4% | 4.7%-24.7% | 6.2%+34.6% | 4.6%-29.4% | 6.5%-5.1% | |
| FCF yield | 6.2%+34.3% | 4.6%-10.4% | 5.2%-23.1% | 6.7%-15.6% | 8.0%+23.3% | |
| Dividend yield | 2.8%+5.2% | 2.6%-2.1% | 2.7%+14.4% | 2.3%-21.4% | 3.0%+8.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: LMT’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LMT filings on SEC EDGAR → Not investment advice.