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Lockheed Martin (LMT)

NYSE Industrials Aerospace & Defense S&P 500
$567.08
-9.08 (-1.58%)
Close of Nov 06, 2026 · end-of-day data
Source: Lockheed Martin's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$47.29B$49.96B$53.76B$59.81B$65.40B$67.04B$65.98B$67.57B$71.04B$75.05B
Cost of revenue$41.89B$43.59B$46.49B$51.45B$56.74B$57.98B$57.70B$59.09B$64.11B$67.43B
Gross profit$5.40B$6.37B$7.27B$8.37B$8.65B$9.06B$8.29B$8.48B$6.93B$7.62B
Research & development$988.00M$1.20B$1.30B$1.30B$1.30B$1.50B$1.70B$1.50B$1.60B$2.00B
Operating income$5.89B$6.74B$7.33B$8.54B$8.64B$9.12B$8.35B$8.51B$7.01B$7.73B
Interest expense$663.00M$651.00M$668.00M$653.00M$591.00M$569.00M$623.00M$916.00M$1.04B$1.12B
Pre-tax income$4.75B$5.25B$5.84B$7.24B$8.23B$7.55B$6.68B$8.10B$6.22B$5.92B
Income tax$1.09B$3.36B$792.00M$1.01B$1.35B$1.24B$948.00M$1.18B$884.00M$905.00M
Net income$5.17B$1.96B$5.05B$6.23B$6.83B$6.32B$5.73B$6.92B$5.34B$5.02B
EBITDA$7.05B$7.94B$8.49B$9.45B$9.66B$10.49B$9.75B$9.94B$8.57B$9.42B
EPS (basic)$17.28$6.82$17.74$22.09$24.40$22.85$21.74$27.65$22.39$21.56
EPS (diluted)$17.07$6.75$17.59$21.95$24.30$22.76$21.66$27.55$22.31$21.49
Diluted shares303.10M290.60M286.80M283.80M281.20M277.40M264.60M251.20M239.20M233.50M
Gross margin11.4%12.8%13.5%14.0%13.2%13.5%12.6%12.5%9.8%10.2%
Operating margin12.5%13.5%13.6%14.3%13.2%13.6%12.7%12.6%9.9%10.3%
Net margin10.9%3.9%9.4%10.4%10.4%9.4%8.7%10.2%7.5%6.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$1.84B$2.86B$772.00M$1.51B$3.16B$3.60B$2.55B$1.44B$2.48B$4.12B
Receivables$8.20B$2.27B$2.44B$2.34B$1.98B$1.96B$2.50B$2.13B$2.35B$3.90B
Inventory—$2.88B$3.00B$3.62B$3.54B$2.98B$3.09B$3.13B$3.47B$3.52B
Total current assets$15.11B$17.50B$16.10B$17.09B$19.38B$19.82B$20.99B$20.52B$21.85B$25.36B
Goodwill$10.76B$10.81B$10.77B$10.60B$10.81B$10.81B$10.78B$10.80B$11.07B$11.31B
Total assets$47.81B$46.62B$44.88B$47.53B$50.71B$50.87B$52.88B$52.46B$55.62B$59.84B
Total current liabilities$12.54B$12.91B$14.40B$13.97B$13.93B$14.00B$15.89B$16.94B$19.42B$23.34B
Short-term debt$0$750.00M$1.50B$1.25B$500.00M$6.00M$118.00M$168.00M$643.00M$1.17B
Long-term debt$14.28B$13.51B$12.60B$11.40B$11.67B$11.67B$15.43B$17.29B$19.63B$20.53B
Total debt$14.28B$14.26B$14.10B$12.65B$12.17B$11.68B$15.55B$17.46B$20.27B$21.70B
Total liabilities$46.20B$47.40B$43.43B$44.36B$44.67B$39.91B$43.61B$45.62B$49.28B$53.12B
Shareholders' equity$1.51B-$850.00M$1.39B$3.13B$6.01B$10.96B$9.27B$6.83B$6.33B$6.72B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$5.19B$6.48B$3.14B$7.31B$8.18B$9.22B$7.80B$7.92B$6.97B$8.56B
Capital expenditures$1.06B$1.18B$1.28B$1.48B$1.77B$1.52B$1.67B$1.69B$1.69B$1.65B
Free cash flow$4.13B$5.30B$1.86B$5.83B$6.42B$7.70B$6.13B$6.23B$5.29B$6.91B
Investing cash flow-$985.00M-$1.15B-$1.07B-$1.24B-$2.01B-$1.16B-$1.79B-$1.69B-$1.79B-$1.98B
Financing cash flow-$3.46B-$4.30B-$4.15B-$5.33B-$4.53B-$7.62B-$7.07B-$7.33B-$4.14B-$4.94B
Dividends paid$2.05B$2.16B$2.35B$2.56B$2.76B$2.94B$3.02B$3.06B$3.06B$3.13B
Share buybacks$2.10B$2.00B$1.49B$1.20B$1.10B$4.09B$7.90B$6.00B$3.70B$3.00B
Stock-based compensation$149.00M$158.00M$173.00M$189.00M$221.00M$227.00M$238.00M$265.00M$277.00M$304.00M
Depreciation & amortization$1.17B$1.20B$1.16B$906.00M$1.02B$1.36B$1.40B$1.43B$1.56B$1.69B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.