LOCKHEED MARTIN CORP (LMT) Fundamental Analysis & Valuation

NYSE:LMT • US5398301094

Current stock price

645.2 USD
-0.8 (-0.12%)
At close:
643.6 USD
-1.6 (-0.25%)
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.
  • In the past 5 years LMT has always been profitable.
  • 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

  • With an excellent Return On Assets value of 8.38%, LMT belongs to the best of the industry, outperforming 87.18% of the companies in the same industry.
  • LMT's Return On Equity of 74.65% is amongst the best of the industry. LMT outperforms 96.15% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 18.14%, LMT belongs to the top of the industry, outperforming 96.15% of the companies in the same industry.
  • LMT had an Average Return On Invested Capital over the past 3 years of 18.43%. This 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

  • LMT has a Profit Margin of 6.69%. This is in the better half of the industry: LMT outperforms 65.38% 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 65.38% of the companies in the same industry.
  • LMT's Operating Margin has declined in the last couple of years.
  • With a Gross Margin value of 10.24%, LMT is not doing good in the industry: 78.21% of the companies in the same industry are doing better.
  • 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.
  • LMT has less shares outstanding than it did 5 years ago.
  • 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 3.73. This indicates that LMT is financially healthy and has little risk of bankruptcy at the moment.
  • LMT has a Altman-Z score of 3.73. This is comparable to the rest of the industry: LMT outperforms 53.85% 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.
  • Looking at the Debt to FCF ratio, with a value of 3.14, LMT belongs to the top of the industry, outperforming 80.77% of the companies in the same industry.
  • A Debt/Equity ratio of 3.05 is on the high side and indicates that LMT has dependencies on debt financing.
  • The Debt to Equity ratio of LMT (3.05) is worse than 79.49% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.05
Debt/FCF 3.14
Altman-Z 3.73
ROIC/WACC1.88
WACC9.66%
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: 84.62% of the companies in the same industry are doing better.
  • LMT has a Quick Ratio of 1.09. This is a bad value and indicates that LMT is not financially healthy enough and could expect problems in meeting 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 75.64% 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.
  • 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.
  • The Revenue is expected to grow by 3.46% on average over the next years.
EPS Next Y4.27%
EPS Next 2Y5.6%
EPS Next 3Y5.75%
EPS Next 5Y6.77%
Revenue Next Year6.02%
Revenue Next 2Y5.48%
Revenue Next 3Y5.08%
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.
  • 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

  • With a Price/Earnings ratio of 22.29, LMT is valued on the expensive side.
  • Based on the Price/Earnings ratio, LMT is valued cheaply inside the industry as 89.74% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 25.96. LMT is around the same levels.
  • LMT is valuated rather expensively with a Price/Forward Earnings ratio of 21.37.
  • LMT's Price/Forward Earnings ratio is rather cheap when compared to the industry. LMT is cheaper than 85.90% of the companies in the same industry.
  • LMT's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 24.04.
Industry RankSector Rank
PE 22.29
Fwd PE 21.37
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

  • Based on the Enterprise Value to EBITDA ratio, LMT is valued a bit cheaper than the industry average as 79.49% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, LMT is valued cheaper than 93.59% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.49
EV/EBITDA 17.58
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.
  • The decent profitability rating of LMT may justify a higher PE ratio.
PEG (NY)5.22
PEG (5Y)7.32
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 2.11%.
  • Compared to an average industry Dividend Yield of 0.65, LMT pays a better dividend. On top of this LMT pays more dividend than 94.87% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, LMT has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.11%

5.2 History

  • On average, the dividend of LMT grows each year by 6.46%, which is quite nice.
  • LMT has been paying a dividend for at least 10 years, so it has a reliable track record.
  • LMT has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
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 (3/16/2026, 8:04:00 PM)

After market: 643.6 -1.6 (-0.25%)

645.2

-0.8 (-0.12%)

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 Cap148.45B
Revenue(TTM)75.05B
Net Income(TTM)5.02B
Analysts70
Price Target670.9 (3.98%)
Short Float %1.19%
Short Ratio1.45
Dividend
Industry RankSector Rank
Dividend Yield 2.11%
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)-1.89%
EPS NY rev (1m)0.42%
EPS NY rev (3m)2.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.84%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)1.73%
Valuation
Industry RankSector Rank
PE 22.29
Fwd PE 21.37
P/S 1.98
P/FCF 21.49
P/OCF 17.35
P/B 22.09
P/tB N/A
EV/EBITDA 17.58
EPS(TTM)28.95
EY4.49%
EPS(NY)30.19
Fwd EY4.68%
FCF(TTM)30.02
FCFY4.65%
OCF(TTM)37.19
OCFY5.76%
SpS326.18
BVpS29.21
TBVpS-38.67
PEG (NY)5.22
PEG (5Y)7.32
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 3.73
F-Score6
WACC9.66%
ROIC/WACC1.88
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 Year6.02%
Revenue Next 2Y5.48%
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.