LMT · NYSE
Lockheed Martin Corporation
Aerospace & Defense · United States
- Market cap (USD)
- US$123.10B
- Trailing P/E
- 19.68x
- Forward P/E
- 16.28x
- Quarterly revenue growth
- 10.5%
- Trailing net margin
- 8.2%
- Indicated dividend yield
- 2.6%
Snapshot 2026-09-20 · Latest financial period 2026-06-28 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-10-20 (provider estimate, not issuer-confirmed).
Company background
Lockheed Martin Corporation, an aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services in the United States, Europe, Asia, the Middle East, and internationally. The company operates through four segments: Aeronautics; Missiles and Fire Control (MFC); Rotary and Mission Systems (RMS); and Space. The Aeronautics segment offers combat and air mobility aircraft, unmanned air vehicles, and related technologies. The MFC segment provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support, and integration services; and ground vehicles. The RMS segment offers military and commercial helicopters, surface ships, sea- and land-based missile defense systems, radar and laser systems, sea- and air-based mission and combat systems, command and control mission solutions, cyber solutions, simulation and training solutions, and services and support for surface ships. The Space segment provides satellites; space transportation systems; strategic, advanced strike, and defensive systems; and classified systems and services in support of national security systems. This segment also provides network-enabled situational awareness; and integrates space and ground global systems to help its customers gather, analyze, and securely distribute critical intelligence data. It primarily serves the U.S. government and international customers, as well as foreign military sales contracted through the U.S. government. The company was formerly known as The Lockheed Corporation and changed its name to Lockheed Martin Corporation in March 1995. Lockheed Martin Corporation was founded in 1912 and is based in Bethesda, Maryland.
Company websiteQ2 2026
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Comparable businesses
LMT peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | LMTLockheed Martin CorporationSnapshot 2026-09-20Financial period: 2026-06-28 |
|---|---|
| Market capMarket value, converted to USD | US$123.10B |
| Forward P/EProvider forward earnings estimate | 16.28x |
| EV / EBITDAEnterprise value / trailing EBITDA | 14.45x |
| Revenue growthLatest quarter vs prior-year quarter | 10.5% |
| Operating marginLatest reported quarter | 12.0% |
| Free cash flow yieldTrailing cash flow / market cap | 4.5% |
| Net debt / EBITDANet debt / trailing EBITDA | 1.73x |
| Debt / equityTotal debt / positive book equity | 2.34x |
| Trailing P/ETrailing twelve-month earnings | 19.68x |
| Price / bookPrice / positive book equity per share | 13.99x |
| EV / salesEnterprise value / trailing revenue | 1.82x |
| Earnings growthLatest quarter vs prior-year quarter | 443.8% |
| Gross marginTrailing twelve months | 11.8% |
| Net marginTrailing twelve months | 8.2% |
| Return on equityProvider trailing return; positive equity only | 89.2% |
| Free cash flow marginTrailing free cash flow / revenue | 7.2% |
| Dividend yieldIndicated annual dividend / price | 2.6% |
| Earnings payoutProvider trailing dividend payout | 50.3% |
| Current ratioCurrent assets / current liabilities | 1.19x |
| BetaProvider historical market sensitivity | 0.10 |
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
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Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for LMT
Q2 20262026-07-23
Lockheed Martin Stock: The +444% EPS Beat Is a MIRAGE — Why LMT Is Still a BUY (Q2 2026)
Presentation · 2026-07-23 · YouTube
Short takes Q2 2026
Lockheed Martin's +444% EPS Is a Mirage — BUY? #Shorts
Watch Short on YouTube
Q1 20262026-04-24
LMT Q1 2026 earnings analysis
Presentation · 2026-04-24 · YouTube
Deep Dive2026-04-24
Q4 20252026-04-15
LMT Stock: $20.3B Revenue — Q4 2025 Earnings Analysis
Presentation · 2026-04-15 · YouTube
LMT Stock: $20.3B Revenue — Q4 2025 Earnings Analysis
Presentation · 2026-04-15 · YouTube