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Lockheed MartinLMT

Aerospace & Defense · Bethesda, Maryland · In the S&P 500
$636.95−1.03%After hours: $636.00 (−0.15%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 31.2% over 1 year
Lockheed Martin over 1 yearDaily close, $, to 30 Oct 2026
$500$600Nov2026MarMayJulSep$636.95$500$600NovMarJul$636.95
Source: Nasdaq daily closes
Market value$147B
Price to earnings22.6x
Forward P/E20.6x
Dividend yield2.26%
Year to date+31.7%
One year+31.2%
Next earningsNot scheduled
SectorIndustrials
52-week range (closes)
$439.19$676.70

Quality and valuation

How Lockheed Martin compares with other industrials stocks. A description, not a recommendation.

Lockheed Martin and 7 aerospace & defense peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: weaker than mostValuation: in line with its sector

A weaker business than most industrials companies, priced about in line with them.

Lockheed Martin trades at 20.6 times the next 12 months of expected earnings, against a median of 21.4x for the 89 industrials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +7.9% vs +8.2%
  • Keeps less of each sale (gross margin): 11.7% vs 38.1%
  • Less profitable (operating margin): 11.8% vs 17.5%
  • Turns less of its sales into cash: 10.6% vs 13.1%
LMT trades at 20.6x forward earnings, below the sector medianForward p/e, Aerospace & Defense peers
NOC19.3xLMT20.6xGD21.3xTDG24.6xRTX26.8xHWM33.6xGE35.7xSector median 21.4xNOC19.3xLMT20.6xGD21.3xTDG24.6xRTX26.8xHWM33.6xGE35.7xSector median 21.4x
Source: CNBC quotes; Mostly Markets
At 22.6x earnings, LMT is cheaper than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x25x30xAverage 23.5x2025202622.6x20x30xAverage 23.5x2025202622.6x
Source: Nasdaq prices; SEC filings

Financials

From Lockheed Martin's SEC filings, through the quarter ending 27 Sep 2026. Hover or tap a bar for its value.

Revenue grew 11.3% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$10bn$20bnQ4 ’24Q2 ’25Q4 ’25$20.7bnQ3 ’26$0bn$10bn$20bnQ4 ’24Q2 ’25Q4 ’25$20.7bnQ3 ’26
Source: SEC filings
Growth sped up to +11.3% last quarterRevenue growth, year on year, %
0%5%10%Q4 ’24Q2 ’25Q4 ’2511.3%Q3 ’260%5%10%Q4 ’24Q2 ’25Q4 ’2511.3%Q3 ’26
Source: SEC filings
Operating margin was 11.8% last quarterOperating income as a share of revenue, %
0%5%10%Q4 ’24Q2 ’25Q4 ’2511.8%Q3 ’260%5%10%Q4 ’24Q2 ’25Q4 ’2511.8%Q3 ’26
Source: SEC filings
Free cash flow was $8.4 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$1bn$2bn$3bnQ4 ’24Q2 ’25Q4 ’25$3.0bnQ3 ’26$0bn$2bnQ4 ’24Q2 ’25Q4 ’25$3.0bnQ3 ’26
Source: SEC filings
Last 12 monthsLMTSector median
Revenue growth+7.9%+8.2%
Gross margin11.7%38.1%
Operating margin11.8%17.5%
Free cash flow margin10.6%13.1%
Price to earnings22.6x25.8x

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Similar companies

Aerospace & Defense, by market value.

CompanyPriceTodayYTDValue
GEGE Aerospace$301.80−3.59%−2.0%$312B
RTXRTX$199.80+0.20%+8.9%$270B
BABoeing$171.55−0.64%−21.0%$136B
GDGeneral Dynamics$372.59+0.48%+10.7%$101B
HWMHowmet Aerospace$199.22−3.26%−2.8%$79.45B
NOCNorthrop Grumman$557.54−0.86%−2.2%$79.21B
TDGTransDigm Group$1,146.81−2.47%−13.8%$63.39B
LHXL3Harris$277.61−0.29%−5.4%$51.70B