LOCKHEED MARTIN CORP (LMT) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:LMT • US5398301094

623.58 USD
+14.4 (+2.36%)
At close: Feb 6, 2026
625.39 USD
+1.81 (+0.29%)
After Hours: 2/6/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to LMT. LMT was compared to 73 industry peers in the Aerospace & Defense industry. Both the profitability and the financial health of LMT get a neutral evaluation. Nothing too spectacular is happening here. LMT has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • LMT had positive earnings in the past year.
  • LMT had a positive operating cash flow in the past year.
  • LMT had positive earnings in each of the past 5 years.
  • Each year in the past 5 years LMT had a positive operating cash flow.
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 90.28% of its industry peers.
  • With an excellent Return On Equity value of 74.65%, LMT belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • The Return On Invested Capital of LMT (18.14%) is better than 97.22% 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 8.67%.
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 65.28% of its industry peers.
  • In the last couple of years the Profit Margin of LMT has declined.
  • LMT has a Operating Margin of 10.35%. This is in the better half of the industry: LMT outperforms 65.28% of its industry peers.
  • In the last couple of years the Operating Margin of LMT has declined.
  • Looking at the Gross Margin, with a value of 10.24%, LMT is doing worse than 76.39% of the companies in the same industry.
  • In the last couple of years the Gross Margin of LMT has declined.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so LMT is creating value.
  • LMT has less shares outstanding than it did 1 year ago.
  • LMT has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for LMT has been reduced compared to a year ago.
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 3.68 indicates that LMT is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of LMT (3.68) is comparable to the rest of the industry.
  • 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.
  • LMT's Debt to FCF ratio of 3.14 is amongst the best of the industry. LMT outperforms 83.33% of its industry peers.
  • A Debt/Equity ratio of 3.05 is on the high side and indicates that LMT has dependencies on debt financing.
  • LMT has a Debt to Equity ratio of 3.05. This is amonst the worse of the industry: LMT underperforms 83.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Altman-Z 3.68
ROIC/WACC1.78
WACC10.18%
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.
  • LMT has a Current ratio of 1.09. This is amonst the worse of the industry: LMT underperforms 84.72% of its industry peers.
  • A Quick Ratio of 0.94 indicates that LMT may have some problems paying its short term obligations.
  • The Quick ratio of LMT (0.94) is worse than 75.00% 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. Growth

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.
  • The Revenue has been growing slightly by 2.79% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 5.38% on average over the next years.
  • LMT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.58% yearly.
EPS Next Y3.84%
EPS Next 2Y5.36%
EPS Next 3Y5.73%
EPS Next 5Y5.38%
Revenue Next Year5.5%
Revenue Next 2Y5.11%
Revenue Next 3Y4.89%
Revenue Next 5Y1.58%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less 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

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6

4. Valuation

4.1 Price/Earnings Ratio

  • LMT is valuated rather expensively with a Price/Earnings ratio of 21.54.
  • Based on the Price/Earnings ratio, LMT is valued cheaper than 95.83% of the companies in the same industry.
  • LMT's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.93.
  • With a Price/Forward Earnings ratio of 20.74, LMT is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, LMT is valued cheaply inside the industry as 94.44% of the companies are valued more expensively.
  • LMT is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.77, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 21.54
Fwd PE 20.74
LMT Price Earnings VS Forward Price EarningsLMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, LMT is valued cheaply inside the industry as 84.72% of the companies are valued more expensively.
  • 95.83% of the companies in the same industry are more expensive than LMT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 20.89
EV/EBITDA 17.12
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)5.62
PEG (5Y)7.08
EPS Next 2Y5.36%
EPS Next 3Y5.73%

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

6

5. Dividend

5.1 Amount

  • LMT has a Yearly Dividend Yield of 2.27%.
  • LMT's Dividend Yield is rather good when compared to the industry average which is at 0.36. LMT pays more dividend than 98.61% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, 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 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 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.
  • LMT's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP62.41%
EPS Next 2Y5.36%
EPS Next 3Y5.73%
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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LOCKHEED MARTIN CORP

NYSE:LMT (2/6/2026, 8:04:00 PM)

After market: 625.39 +1.81 (+0.29%)

623.58

+14.4 (+2.36%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)01-29
Earnings (Next)04-20
Inst Owners74.7%
Inst Owner Change-0.19%
Ins Owners0.05%
Ins Owner Change-2.08%
Market Cap144.30B
Revenue(TTM)75.05B
Net Income(TTM)5.02B
Analysts70.71
Price Target634.91 (1.82%)
Short Float %1.1%
Short Ratio1.5
Dividend
Industry RankSector Rank
Dividend Yield 2.27%
Yearly Dividend13.52
Dividend Growth(5Y)6.46%
DP62.41%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
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)18.34%
PT rev (3m)17.1%
EPS NQ rev (1m)-1.74%
EPS NQ rev (3m)-1.89%
EPS NY rev (1m)1.72%
EPS NY rev (3m)2.15%
Revenue NQ rev (1m)-0.6%
Revenue NQ rev (3m)-0.59%
Revenue NY rev (1m)1.2%
Revenue NY rev (3m)1.26%
Valuation
Industry RankSector Rank
PE 21.54
Fwd PE 20.74
P/S 1.92
P/FCF 20.89
P/OCF 16.86
P/B 21.47
P/tB N/A
EV/EBITDA 17.12
EPS(TTM)28.95
EY4.64%
EPS(NY)30.06
Fwd EY4.82%
FCF(TTM)29.85
FCFY4.79%
OCF(TTM)36.98
OCFY5.93%
SpS324.32
BVpS29.04
TBVpS-38.45
PEG (NY)5.62
PEG (5Y)7.08
Graham Number137.55
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 3.68
F-Score6
WACC10.18%
ROIC/WACC1.78
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 Y3.84%
EPS Next 2Y5.36%
EPS Next 3Y5.73%
EPS Next 5Y5.38%
Revenue 1Y (TTM)5.64%
Revenue growth 3Y4.38%
Revenue growth 5Y2.79%
Sales Q2Q%9.12%
Revenue Next Year5.5%
Revenue Next 2Y5.11%
Revenue Next 3Y4.89%
Revenue Next 5Y1.58%
EBIT growth 1Y10.29%
EBIT growth 3Y-2.31%
EBIT growth 5Y-2.17%
EBIT Next Year44.35%
EBIT Next 3Y14.73%
EBIT Next 5Y12.22%
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 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.


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 3.84% in the next year.