LOCKHEED MARTIN CORP (LMT) Fundamental Analysis & Valuation

NYSE:LMT • US5398301094

Current stock price

616.25 USD
-11.18 (-1.78%)
At close:
616.16 USD
-0.09 (-0.01%)
After Hours:

This LMT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. LMT Profitability Analysis

1.1 Basic Checks

  • In the past year LMT was profitable.
  • In the past year LMT had a positive cash flow from operations.
  • LMT had positive earnings in each of the past 5 years.
  • In the past 5 years LMT always reported a positive cash flow from operatings.
LMT Yearly Net Income VS EBIT VS OCF VS FCFLMT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

1.2 Ratios

  • LMT has a Return On Assets of 8.38%. This is amongst the best in the industry. LMT outperforms 87.34% of its industry peers.
  • LMT has a Return On Equity of 74.65%. This is amongst the best in the industry. LMT outperforms 96.20% of its industry peers.
  • The Return On Invested Capital of LMT (18.14%) is better than 96.20% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for LMT is significantly above the industry average of 9.24%.
Industry RankSector Rank
ROA 8.38%
ROE 74.65%
ROIC 18.14%
ROA(3y)10.39%
ROA(5y)10.88%
ROE(3y)86.72%
ROE(5y)75.93%
ROIC(3y)18.43%
ROIC(5y)19.09%
LMT Yearly ROA, ROE, ROICLMT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 -100 200 -200 300

1.3 Margins

  • LMT has a better Profit Margin (6.69%) than 65.82% of its industry peers.
  • In the last couple of years the Profit Margin of LMT has declined.
  • LMT's Operating Margin of 10.35% is fine compared to the rest of the industry. LMT outperforms 67.09% of its industry peers.
  • In the last couple of years the Operating Margin of LMT has declined.
  • LMT's Gross Margin of 10.24% is on the low side compared to the rest of the industry. LMT is outperformed by 81.01% of its industry peers.
  • LMT's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.35%
PM (TTM) 6.69%
GM 10.24%
OM growth 3Y-6.42%
OM growth 5Y-4.83%
PM growth 3Y-8.36%
PM growth 5Y-8.54%
GM growth 3Y-6.95%
GM growth 5Y-5.06%
LMT Yearly Profit, Operating, Gross MarginsLMT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

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5

2. LMT Health Analysis

2.1 Basic Checks

  • LMT has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • LMT has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, LMT has less shares outstanding
  • Compared to 1 year ago, LMT has an improved debt to assets ratio.
LMT Yearly Shares OutstandingLMT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
LMT Yearly Total Debt VS Total AssetsLMT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • LMT has an Altman-Z score of 3.65. This indicates that LMT is financially healthy and has little risk of bankruptcy at the moment.
  • LMT has a Altman-Z score of 3.65. This is comparable to the rest of the industry: LMT outperforms 54.43% of its industry peers.
  • The Debt to FCF ratio of LMT is 3.14, which is a good value as it means it would take LMT, 3.14 years of fcf income to pay off all of its debts.
  • LMT has a Debt to FCF ratio of 3.14. This is in the better half of the industry: LMT outperforms 79.75% of its industry peers.
  • LMT has a Debt/Equity ratio of 3.05. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 3.05, LMT is doing worse than 82.28% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Altman-Z 3.65
ROIC/WACC1.8
WACC10.07%
LMT Yearly LT Debt VS Equity VS FCFLMT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B 20B

2.3 Liquidity

  • LMT has a Current Ratio of 1.09. This is a normal value and indicates that LMT is financially healthy and should not expect problems in meeting its short term obligations.
  • LMT has a worse Current ratio (1.09) than 83.54% of its industry peers.
  • A Quick Ratio of 0.94 indicates that LMT may have some problems paying its short term obligations.
  • LMT's Quick ratio of 0.94 is on the low side compared to the rest of the industry. LMT is outperformed by 74.68% of its industry peers.
Industry RankSector Rank
Current Ratio 1.09
Quick Ratio 0.94
LMT Yearly Current Assets VS Current LiabilitesLMT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. LMT Growth Analysis

3.1 Past

  • LMT shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.47%.
  • Measured over the past 5 years, LMT shows a small growth in Earnings Per Share. The EPS has been growing by 3.04% on average per year.
  • Looking at the last year, LMT shows a small growth in Revenue. The Revenue has grown by 5.64% in the last year.
  • Measured over the past years, LMT shows a small growth in Revenue. The Revenue has been growing by 2.79% on average per year.
EPS 1Y (TTM)4.47%
EPS 3Y10.07%
EPS 5Y3.04%
EPS Q2Q%-3.13%
Revenue 1Y (TTM)5.64%
Revenue growth 3Y4.38%
Revenue growth 5Y2.79%
Sales Q2Q%9.12%

3.2 Future

  • Based on estimates for the next years, LMT will show a small growth in Earnings Per Share. The EPS will grow by 6.77% on average per year.
  • LMT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.46% yearly.
EPS Next Y4.27%
EPS Next 2Y5.6%
EPS Next 3Y5.75%
EPS Next 5Y6.77%
Revenue Next Year6.1%
Revenue Next 2Y5.49%
Revenue Next 3Y5.08%
Revenue Next 5Y3.46%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
LMT Yearly Revenue VS EstimatesLMT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20B 40B 60B 80B
LMT Yearly EPS VS EstimatesLMT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10 20 30 40

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5

4. LMT Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 21.29, the valuation of LMT can be described as rather expensive.
  • Based on the Price/Earnings ratio, LMT is valued cheaper than 88.61% of the companies in the same industry.
  • LMT's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.54.
  • The Price/Forward Earnings ratio is 20.41, which indicates a rather expensive current valuation of LMT.
  • 87.34% of the companies in the same industry are more expensive than LMT, based on the Price/Forward Earnings ratio.
  • LMT's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.70.
Industry RankSector Rank
PE 21.29
Fwd PE 20.41
LMT Price Earnings VS Forward Price EarningsLMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of LMT indicates a somewhat cheap valuation: LMT is cheaper than 79.75% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, LMT is valued cheaper than 94.94% of the companies in the same industry.
Industry RankSector Rank
P/FCF 20.53
EV/EBITDA 16.85
LMT Per share dataLMT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200 300

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates LMT does not grow enough to justify the current Price/Earnings ratio.
  • LMT has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)4.98
PEG (5Y)6.99
EPS Next 2Y5.6%
EPS Next 3Y5.75%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. LMT Dividend Analysis

5.1 Amount

  • LMT has a Yearly Dividend Yield of 2.16%. Purely for dividend investing, there may be better candidates out there.
  • LMT's Dividend Yield is rather good when compared to the industry average which is at 0.36. LMT pays more dividend than 98.73% of the companies in the same industry.
  • LMT's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.16%

5.2 History

  • The dividend of LMT is nicely growing with an annual growth rate of 6.46%!
  • LMT has paid a dividend for at least 10 years, which is a reliable track record.
  • As LMT did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)6.46%
Div Incr Years6
Div Non Decr Years6
LMT Yearly Dividends per shareLMT Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8 10

5.3 Sustainability

  • 62.41% of the earnings are spent on dividend by LMT. This is not a sustainable payout ratio.
  • The dividend of LMT is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP62.41%
EPS Next 2Y5.6%
EPS Next 3Y5.75%
LMT Yearly Income VS Free CF VS DividendLMT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B
LMT Dividend Payout.LMT Dividend Payout, showing the Payout Ratio.LMT Dividend Payout.PayoutRetained Earnings

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LMT Fundamentals: All Metrics, Ratios and Statistics

LOCKHEED MARTIN CORP

NYSE:LMT (3/23/2026, 8:04:00 PM)

After market: 616.16 -0.09 (-0.01%)

616.25

-11.18 (-1.78%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)01-29
Earnings (Next)04-20
Inst Owners75.17%
Inst Owner Change-0.51%
Ins Owners0.05%
Ins Owner Change-3.33%
Market Cap141.79B
Revenue(TTM)75.05B
Net Income(TTM)5.02B
Analysts70
Price Target670.9 (8.87%)
Short Float %1.19%
Short Ratio1.45
Dividend
Industry RankSector Rank
Dividend Yield 2.16%
Yearly Dividend13.52
Dividend Growth(5Y)6.46%
DP62.41%
Div Incr Years6
Div Non Decr Years6
Ex-Date03-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.59%
Min EPS beat(2)8.18%
Max EPS beat(2)28.99%
EPS beat(4)4
Avg EPS beat(4)15.75%
Min EPS beat(4)8.18%
Max EPS beat(4)28.99%
EPS beat(8)8
Avg EPS beat(8)11.8%
EPS beat(12)11
Avg EPS beat(12)9.29%
EPS beat(16)12
Avg EPS beat(16)4.96%
Revenue beat(2)1
Avg Revenue beat(2)0.32%
Min Revenue beat(2)-0.71%
Max Revenue beat(2)1.35%
Revenue beat(4)1
Avg Revenue beat(4)-0.67%
Min Revenue beat(4)-3.21%
Max Revenue beat(4)1.35%
Revenue beat(8)3
Avg Revenue beat(8)0.5%
Revenue beat(12)5
Avg Revenue beat(12)0.95%
Revenue beat(16)6
Avg Revenue beat(16)0.22%
PT rev (1m)5.67%
PT rev (3m)23.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.84%
EPS NY rev (1m)0.42%
EPS NY rev (3m)2.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.85%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)1.8%
Valuation
Industry RankSector Rank
PE 21.29
Fwd PE 20.41
P/S 1.89
P/FCF 20.53
P/OCF 16.57
P/B 21.1
P/tB N/A
EV/EBITDA 16.85
EPS(TTM)28.95
EY4.7%
EPS(NY)30.19
Fwd EY4.9%
FCF(TTM)30.02
FCFY4.87%
OCF(TTM)37.19
OCFY6.04%
SpS326.18
BVpS29.21
TBVpS-38.67
PEG (NY)4.98
PEG (5Y)6.99
Graham Number137.94
Profitability
Industry RankSector Rank
ROA 8.38%
ROE 74.65%
ROCE 21.28%
ROIC 18.14%
ROICexc 20.45%
ROICexgc 39.5%
OM 10.35%
PM (TTM) 6.69%
GM 10.24%
FCFM 9.2%
ROA(3y)10.39%
ROA(5y)10.88%
ROE(3y)86.72%
ROE(5y)75.93%
ROIC(3y)18.43%
ROIC(5y)19.09%
ROICexc(3y)19.89%
ROICexc(5y)20.7%
ROICexgc(3y)36.22%
ROICexgc(5y)36.88%
ROCE(3y)21.61%
ROCE(5y)22.39%
ROICexgc growth 3Y4.1%
ROICexgc growth 5Y1.14%
ROICexc growth 3Y-0.28%
ROICexc growth 5Y-1.44%
OM growth 3Y-6.42%
OM growth 5Y-4.83%
PM growth 3Y-8.36%
PM growth 5Y-8.54%
GM growth 3Y-6.95%
GM growth 5Y-5.06%
F-Score6
Asset Turnover1.25
Health
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Debt/EBITDA 2.17
Cap/Depr 97.75%
Cap/Sales 2.2%
Interest Coverage 7.77
Cash Conversion 90.49%
Profit Quality 137.69%
Current Ratio 1.09
Quick Ratio 0.94
Altman-Z 3.65
F-Score6
WACC10.07%
ROIC/WACC1.8
Cap/Depr(3y)108.03%
Cap/Depr(5y)110.92%
Cap/Sales(3y)2.36%
Cap/Sales(5y)2.37%
Profit Quality(3y)108.93%
Profit Quality(5y)111.14%
High Growth Momentum
Growth
EPS 1Y (TTM)4.47%
EPS 3Y10.07%
EPS 5Y3.04%
EPS Q2Q%-3.13%
EPS Next Y4.27%
EPS Next 2Y5.6%
EPS Next 3Y5.75%
EPS Next 5Y6.77%
Revenue 1Y (TTM)5.64%
Revenue growth 3Y4.38%
Revenue growth 5Y2.79%
Sales Q2Q%9.12%
Revenue Next Year6.1%
Revenue Next 2Y5.49%
Revenue Next 3Y5.08%
Revenue Next 5Y3.46%
EBIT growth 1Y10.29%
EBIT growth 3Y-2.31%
EBIT growth 5Y-2.17%
EBIT Next Year47.91%
EBIT Next 3Y16.97%
EBIT Next 5Y13.2%
FCF growth 1Y30.66%
FCF growth 3Y4.05%
FCF growth 5Y1.49%
OCF growth 1Y22.73%
OCF growth 3Y3.13%
OCF growth 5Y0.9%

LOCKHEED MARTIN CORP / LMT Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for LOCKHEED MARTIN CORP?

ChartMill assigns a fundamental rating of 5 / 10 to LMT.


Can you provide the valuation status for LOCKHEED MARTIN CORP?

ChartMill assigns a valuation rating of 5 / 10 to LOCKHEED MARTIN CORP (LMT). This can be considered as Fairly Valued.


Can you provide the profitability details for LOCKHEED MARTIN CORP?

LOCKHEED MARTIN CORP (LMT) has a profitability rating of 6 / 10.


How financially healthy is LOCKHEED MARTIN CORP?

The financial health rating of LOCKHEED MARTIN CORP (LMT) is 5 / 10.


What is the earnings growth outlook for LOCKHEED MARTIN CORP?

The Earnings per Share (EPS) of LOCKHEED MARTIN CORP (LMT) is expected to grow by 4.27% in the next year.