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LOCKHEED MARTIN CORP LMT

NYSE · stock · Guided Missiles & Space Vehicles & Parts · website · IPO 1961-10-11 · LEI

LOCKHEED MARTIN CORP statistics & valuation

Market cap$117.0B
P / E23.3×
P / S1.6×
P / B17.4×
Dividend yield2.68%
Net margin6.7%
Return on equity74.6%
Net debt$17.6B
Net debt / EBITDA1.9×
Enterprise value USD$134.6B
EV / EBITDA14.3×
Earnings yield EBIT/EV5.7%
Return on capital21.2%
Graham number -80.6%$117.97

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($117.97); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
10.90% 3.80% 9.40% 10.40% 10.40% 9.40% 8.70% 10.20% 7.50% 6.70% 2016201720182019202020212022202320242025
Gross margin (%)
11.40% 12.50% 13.50% 14.00% 13.20% 13.50% 12.60% 12.50% 9.80% 10.20% 2016201720182019202020212022202320242025
Operating margin (%)
12.50% 13.20% 13.60% 14.30% 13.20% 13.60% 12.70% 12.60% 9.90% 10.30% 2016201720182019202020212022202320242025
Return on equity (%)
342.40% 348.20% 196.50% 113.20% 57.60% 61.90% 101.20% 84.30% 74.60% 2016201720182019202020212022202320242025
Shares outstanding
303.1M 290.6M 286.8M 283.8M 281.2M 277.4M 264.6M 251.2M 239.2M 233.5M 2016201720182019202020212022202320242025
Net debt ($)
$12.45B $11.40B $13.33B $11.14B $9.01B $8.07B $13.00B $16.02B $17.79B $17.58B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
10.80% 4.20% 11.20% 13.10% 13.50% 12.40% 10.80% 13.20% 9.60% 8.40% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
9.45× 9.73× 3.99× 2.02× 1.07× 1.68× 2.55× 3.20× 3.23× 2016201720182019202020212022202320242025
EPS ($)
$17.07 $6.75 $17.59 $21.95 $24.30 $22.76 $21.66 $27.55 $22.31 $21.49 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LOCKHEED MARTIN CORP trades at about 28.2× earnings — above its 10-year norm (10-year range 13.2×–52.6×, median 19.5×).

13.2× 52.6×

Shaded band = 10-year range (13.2×–52.6×); dot = today's 28.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin10.2%9.8%12.5%12.6%13.5%13.2%14.0%13.5%12.5%11.4%
Operating margin10.3%9.9%12.6%12.7%13.6%13.2%14.3%13.6%13.2%12.5%
Net margin6.7%7.5%10.2%8.7%9.4%10.4%10.4%9.4%3.8%10.9%
Return on assets8.4%9.6%13.2%10.8%12.4%13.5%13.1%11.2%4.2%10.8%
Return on equity74.6%84.3%101.2%61.9%57.6%113.2%196.5%348.2%-230.9%342.4%
Debt / equity3.23×3.20×2.55×1.68×1.07×2.02×3.99×9.73×-16.78×9.45×
Current ratio1.091.131.211.321.421.391.221.121.361.20

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.