LOCKHEED MARTIN CORP (LMT) Fundamental Analysis & Valuation

NYSE:LMT • US5398301094

Current stock price

613.72 USD
-10.15 (-1.63%)
At close:
616 USD
+2.28 (+0.37%)
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.
  • LMT had a positive operating cash flow in the past year.
  • Each year in the past 5 years LMT has 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

  • LMT's Return On Assets of 8.38% is amongst the best of the industry. LMT outperforms 86.25% of its industry peers.
  • Looking at the Return On Equity, with a value of 74.65%, LMT belongs to the top of the industry, outperforming 96.25% of the companies in the same industry.
  • LMT has a Return On Invested Capital of 18.14%. This is amongst the best in the industry. LMT outperforms 96.25% 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 9.21%.
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

  • With a decent Profit Margin value of 6.69%, LMT is doing good in the industry, outperforming 66.25% of the companies in the same industry.
  • 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 67.50% of its industry peers.
  • LMT's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 10.24%, LMT is doing worse than 80.00% of the companies in the same industry.
  • 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

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), LMT 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

  • An Altman-Z score of 3.67 indicates that LMT is not in any danger for bankruptcy at the moment.
  • LMT has a Altman-Z score of 3.67. This is comparable to the rest of the industry: LMT outperforms 51.25% 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's Debt to FCF ratio of 3.14 is fine compared to the rest of the industry. LMT outperforms 78.75% 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 82.50% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Altman-Z 3.67
ROIC/WACC1.9
WACC9.56%
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.
  • With a Current ratio value of 1.09, LMT is not doing good in the industry: 83.75% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.94 indicates that LMT may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.94, LMT is not doing good in the industry: 73.75% of the companies in the same industry are doing better.
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

  • The Earnings Per Share has been growing slightly by 4.47% over the past year.
  • LMT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.04% yearly.
  • The Revenue has been growing slightly by 5.64% in the past 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

  • LMT is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.77% yearly.
  • Based on estimates for the next years, LMT will show a small growth in Revenue. The Revenue will grow by 3.46% on average per year.
EPS Next Y4.27%
EPS Next 2Y5.6%
EPS Next 3Y5.75%
EPS Next 5Y6.77%
Revenue Next Year6.13%
Revenue Next 2Y5.52%
Revenue Next 3Y5.13%
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.
  • 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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5

4. LMT Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 21.20, the valuation of LMT can be described as rather expensive.
  • 87.50% of the companies in the same industry are more expensive than LMT, based on the Price/Earnings ratio.
  • LMT's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.78.
  • The Price/Forward Earnings ratio is 20.33, which indicates a rather expensive current valuation of LMT.
  • Based on the Price/Forward Earnings ratio, LMT is valued cheaper than 88.75% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of LMT to the average of the S&P500 Index (23.54), we can say LMT is valued inline with the index average.
Industry RankSector Rank
PE 21.2
Fwd PE 20.33
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

  • LMT's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. LMT is cheaper than 80.00% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of LMT indicates a rather cheap valuation: LMT is cheaper than 95.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 20.44
EV/EBITDA 17.04
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)4.96
PEG (5Y)6.97
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

  • With a Yearly Dividend Yield of 2.24%, LMT has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 0.36, 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 1.89, LMT has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.24%

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 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.
  • LMT's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept 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 (4/10/2026, 8:04:00 PM)

After market: 616 +2.28 (+0.37%)

613.72

-10.15 (-1.63%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)01-29
Earnings (Next)04-23
Inst Owners75.17%
Inst Owner Change0%
Ins Owners0.05%
Ins Owner Change-3.33%
Market Cap141.20B
Revenue(TTM)75.05B
Net Income(TTM)5.02B
Analysts69.66
Price Target676.97 (10.31%)
Short Float %1.21%
Short Ratio1.59
Dividend
Industry RankSector Rank
Dividend Yield 2.24%
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)0.9%
PT rev (3m)26.17%
EPS NQ rev (1m)-1.54%
EPS NQ rev (3m)-3.36%
EPS NY rev (1m)0%
EPS NY rev (3m)2.15%
Revenue NQ rev (1m)-0.87%
Revenue NQ rev (3m)-1.72%
Revenue NY rev (1m)0.1%
Revenue NY rev (3m)1.8%
Valuation
Industry RankSector Rank
PE 21.2
Fwd PE 20.33
P/S 1.88
P/FCF 20.44
P/OCF 16.5
P/B 21.01
P/tB N/A
EV/EBITDA 17.04
EPS(TTM)28.95
EY4.72%
EPS(NY)30.19
Fwd EY4.92%
FCF(TTM)30.02
FCFY4.89%
OCF(TTM)37.19
OCFY6.06%
SpS326.18
BVpS29.21
TBVpS-38.67
PEG (NY)4.96
PEG (5Y)6.97
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 3.67
F-Score6
WACC9.56%
ROIC/WACC1.9
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 Year6.13%
Revenue Next 2Y5.52%
Revenue Next 3Y5.13%
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.


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 21.2 and the Price/Book (PB) ratio is 21.01.


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%.