LOCKHEED MARTIN CORP (LMT) Fundamental Analysis & Valuation

NYSE:LMT • US5398301094

Current stock price

592.19 USD
-15.3 (-2.52%)
At close:
593 USD
+0.81 (+0.14%)
Pre-Market:

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

  • LMT had positive earnings in the past year.
  • In the past year LMT had a positive cash flow from operations.
  • In the past 5 years LMT has always been profitable.
  • 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

  • With an excellent Return On Assets value of 8.38%, LMT belongs to the best of the industry, outperforming 86.25% of the companies in the same industry.
  • LMT has a Return On Equity of 74.65%. This is amongst the best in the industry. LMT outperforms 96.25% of its industry peers.
  • The Return On Invested Capital of LMT (18.14%) is better than 96.25% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for LMT is significantly above the industry average of 9.30%.
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

  • The Profit Margin of LMT (6.69%) is better than 67.50% of its industry peers.
  • LMT's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 10.35%, LMT is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
  • LMT's Operating Margin has declined in the last couple of years.
  • LMT's Gross Margin of 10.24% is on the low side compared to the rest of the industry. LMT is outperformed by 80.00% 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

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so LMT is creating value.
  • The number of shares outstanding for LMT has been reduced compared to 1 year ago.
  • LMT has less shares outstanding than it did 5 years ago.
  • LMT has a better debt/assets ratio than last year.
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

  • An Altman-Z score of 3.59 indicates that LMT is not in any danger for bankruptcy at the moment.
  • LMT has a Altman-Z score of 3.59. This is comparable to the rest of the industry: LMT outperforms 47.50% of its industry peers.
  • LMT has a debt to FCF ratio of 3.14. This is a good value and a sign of high solvency as LMT would need 3.14 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 3.14, LMT is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • 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 86.25% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Altman-Z 3.59
ROIC/WACC1.81
WACC10.01%
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

  • A Current Ratio of 1.09 indicates that LMT should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.09, LMT is doing worse than 87.50% of the companies in the same industry.
  • A Quick Ratio of 0.94 indicates that LMT may have some problems paying its short term obligations.
  • LMT has a Quick ratio of 0.94. This is in the lower half of the industry: LMT underperforms 78.75% 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%.
  • The Earnings Per Share has been growing slightly by 3.04% on average over the past years.
  • The Revenue has been growing slightly by 5.64% in the past year.
  • LMT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.79% yearly.
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.
  • The Revenue is expected to grow by 3.46% on average over the next years.
EPS Next Y4.38%
EPS Next 2Y5.57%
EPS Next 3Y5.79%
EPS Next 5Y6.77%
Revenue Next Year6.15%
Revenue Next 2Y5.61%
Revenue Next 3Y5.27%
Revenue Next 5Y3.46%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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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6

4. LMT Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 20.46, which indicates a rather expensive current valuation of LMT.
  • Based on the Price/Earnings ratio, LMT is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of LMT to the average of the S&P500 Index (27.89), we can say LMT is valued slightly cheaper.
  • A Price/Forward Earnings ratio of 19.60 indicates a rather expensive valuation of LMT.
  • LMT's Price/Forward Earnings ratio is rather cheap when compared to the industry. LMT is cheaper than 90.00% of the companies in the same industry.
  • LMT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 38.50.
Industry RankSector Rank
PE 20.46
Fwd PE 19.6
LMT Price Earnings VS Forward Price EarningsLMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150

4.2 Price Multiples

  • 81.25% of the companies in the same industry are more expensive than LMT, based on the Enterprise Value to EBITDA ratio.
  • LMT's Price/Free Cash Flow ratio is rather cheap when compared to the industry. LMT is cheaper than 95.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.76
EV/EBITDA 16.29
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 an expensive valuation of the company.
  • LMT has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)4.67
PEG (5Y)6.72
EPS Next 2Y5.57%
EPS Next 3Y5.79%

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

6

5. LMT Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.27%, LMT has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.35, LMT pays a better dividend. On top of this LMT pays more dividend than 98.75% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, LMT pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.27%

5.2 History

  • The dividend of LMT is nicely growing with an annual growth rate of 6.46%!
  • LMT has been paying a dividend for at least 10 years, so it has 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 Years7
Div Non Decr Years7
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

  • LMT pays out 62.41% of its income as dividend. 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 2Y5.57%
EPS Next 3Y5.79%
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 (4/17/2026, 8:26:33 PM)

Premarket: 593 +0.81 (+0.14%)

592.19

-15.3 (-2.52%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)01-29
Earnings (Next)04-23
Inst Owners74.86%
Inst Owner Change0.09%
Ins Owners0.06%
Ins Owner Change-3.22%
Market Cap136.48B
Revenue(TTM)75.05B
Net Income(TTM)5.02B
Analysts69.66
Price Target679.77 (14.79%)
Short Float %1.03%
Short Ratio1.49
Dividend
Industry RankSector Rank
Dividend Yield 2.27%
Yearly Dividend13.52
Dividend Growth(5Y)6.46%
DP62.41%
Div Incr Years7
Div Non Decr Years7
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)1.32%
PT rev (3m)24.14%
EPS NQ rev (1m)-2.1%
EPS NQ rev (3m)-3.71%
EPS NY rev (1m)0.11%
EPS NY rev (3m)2.26%
Revenue NQ rev (1m)-1.33%
Revenue NQ rev (3m)-2.28%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)1.83%
Valuation
Industry RankSector Rank
PE 20.46
Fwd PE 19.6
P/S 1.82
P/FCF 19.76
P/OCF 15.95
P/B 20.31
P/tB N/A
EV/EBITDA 16.29
EPS(TTM)28.95
EY4.89%
EPS(NY)30.22
Fwd EY5.1%
FCF(TTM)29.97
FCFY5.06%
OCF(TTM)37.13
OCFY6.27%
SpS325.64
BVpS29.16
TBVpS-38.61
PEG (NY)4.67
PEG (5Y)6.72
Graham Number137.827 (-76.73%)
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 3.59
F-Score6
WACC10.01%
ROIC/WACC1.81
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 Y4.38%
EPS Next 2Y5.57%
EPS Next 3Y5.79%
EPS Next 5Y6.77%
Revenue 1Y (TTM)5.64%
Revenue growth 3Y4.38%
Revenue growth 5Y2.79%
Sales Q2Q%9.12%
Revenue Next Year6.15%
Revenue Next 2Y5.61%
Revenue Next 3Y5.27%
Revenue Next 5Y3.46%
EBIT growth 1Y10.29%
EBIT growth 3Y-2.31%
EBIT growth 5Y-2.17%
EBIT Next Year48.04%
EBIT Next 3Y16.98%
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 6 / 10 to LOCKHEED MARTIN CORP (LMT). This can be considered as Fairly Valued.


How profitable is LOCKHEED MARTIN CORP (LMT) stock?

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


Can you provide the PE and PB ratios for LMT stock?

The Price/Earnings (PE) ratio for LOCKHEED MARTIN CORP (LMT) is 20.46 and the Price/Book (PB) ratio is 20.31.


How sustainable is the dividend of LOCKHEED MARTIN CORP (LMT) stock?

The dividend rating of LOCKHEED MARTIN CORP (LMT) is 6 / 10 and the dividend payout ratio is 62.41%.