Lockheed Martin Corporation
- Open
- 516.42
- Day high
- 523.99
- Day low
- 513.81
- Prev close
- 518.26
- Volume
- 653K
- Mkt cap
- $119.9B
- P/E (TTM)
- 25.1
- EPS (TTM)
- $20.86
- P/B
- 16.0
- P/S
- 1.6
- Yield
- 2.63%
- Per share
- $13.65
Lockheed Martin Corporation (LMT) is a Industrials company listed on NYSE. The stock is up 12% over the past year. Drillr has 74 published research articles covering LMT.
Lockheed Martin Corporation (LMT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LMT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $6.74 | $6.44 | -4.5% | $18.0B | -1.1% |
| Jan 29, 2026 | $7.07 | $5.80 | -18.0% | $20.3B | +8.6% |
| Oct 21, 2025 | $6.38 | $6.95 | +8.9% | $18.6B | +0.3% |
| Jul 22, 2025 | $6.52 | $7.29 | +11.8% | $18.2B | -2.2% |
| Apr 22, 2025 | $6.34 | $7.28 | +14.8% | $18.0B | +1.0% |
| Jan 28, 2025 | $6.62 | $7.67 | +15.9% | $18.6B | -1.3% |
| Oct 22, 2024 | $6.50 | $6.80 | +4.6% | $17.1B | -1.6% |
| Jul 23, 2024 | $6.46 | $6.85 | +6.0% | $18.1B | +6.4% |
| Jan 23, 2024 | $7.26 | $7.88 | +8.5% | $18.9B | +5.1% |
| Oct 17, 2023 | $6.67 | $6.73 | +0.9% | $16.9B | -1.0% |
| Jul 18, 2023 | $6.45 | $6.63 | +2.8% | $16.7B | +4.9% |
| Apr 18, 2023 | $6.06 | $6.61 | +9.1% | $15.1B | +0.5% |
LMT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | BURRITT DAVID Bdirector | Grant | 83 | — |
| Jul 2, 2026 | Donovan Johndirector | Grant | 97 | — |
| Apr 6, 2026 | Hollub Vicki A.director | Option | 416 | — |
| Apr 2, 2026 | BURRITT DAVID Bdirector | Grant | 70 | — |
| Apr 2, 2026 | Dunford Joseph F Jrdirector | Grant | 81 | — |
| Apr 2, 2026 | Donovan Johndirector | Grant | 82 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 900 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 600 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 640 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 1,280 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 440 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 280 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 80 | — |
| Mar 13, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Sell | 400 | — |
| Feb 27, 2026 | Cahill Timothy Sofficer: Pres. Missiles & Fire Control | Grant | 2,223 | — |
Source: LMT SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full LMT insider & 13F page →LMT research & analysis
LMT, RTX, NOC: Defense Cohort After House War Powers Vote
House blocks Trump on Iran. Israel-Lebanon ceasefire. LMT $512, RTX $172, NOC $526 — cohort sells off but defense budget trajectory intact.
RTXNOCPLTR Stock: NSA Anthropic Deal Lifts Defense AI Names
FT reports the NSA is using Anthropic's Mythos for cyber operations as the US doubles down on defense AI. What the catalyst means for PLTR, LMT, and HII.
PLTRCRWDWill $100 Oil From Strait of Hormuz Tensions Cement XOM and CVX Outperformance?
Brent crude topping $100/barrel on Strait of Hormuz concerns reveals a mispricing in energy stocks still trading on lower oil price assumptions. XOM and CVX offer 15-20% upside as earnings revisions catch up to triple-digit oil reality, with LMT benefiting from elevated Middle East defense spending. The thesis breaks if oil retreats below $85 by Q3 2025.
XOMCVXETNNASA Artemis II Success: LMT Leads 6 Defense Stocks Ranked for Lunar Economy Upside
Artemis II's safe return on April 11, 2026, de-risks NASA's lunar program, favoring contractors like LMT and NOC with direct hardware roles. We rank six stocks by exposure, ranking LMT highest for its Orion primacy and steady growth. Risks include delays and competition from private launchers.
BANOCRTXHezbollah Escalation Before Peace Talks: LMT +30% YTD, RTX and XOM Next to Move?
Hezbollah's intensified attacks on Israel, killing 14 in Lebanon ahead of U.S.-Iran talks, signal rising demand for LMT and RTX missile systems amid $462B backlogs, while XOM benefits from Middle East supply fears boosting oil. Defense stocks show strong YTD gains (LMT +30%, RTX +10%), with XOM up 28% on resilient production guidance. Bullish: Escalation drives orders and pricing power.
RTXXOMIran Policy Rift Lifts LMT, NOC, XOM — 6 Defense & Energy Stocks to Buy Now
Policy rifts between Trump and Netanyahu over Iran elevate US defense spending and oil risks, benefiting LMT, NOC, RTX, GD, XOM, and CVX. Defense firms show record backlogs and production ramps; energy majors leverage low-cost assets amid supply threats. NOC and LMT top the conviction list.
NOCRTXGDIsrael-Lebanon Strikes Push Oil to $110 — Is XLE or LMT the Better Bet Now?
Israeli strikes in Lebanon on April 9 threaten the Iran-US ceasefire, spiking oil to $110/bbl and lifting energy sentiment for XLE. Defense leaders LMT and NOC, with $75B/$42B revenues and record backlogs, are primed for missile demand amid Hezbollah risks—bullish on dips with 5-11% sales growth guided.
XLENOCUS-Iran Truce Pulls Oil Back: Why LMT Holds While XOM Slips
The announced US-Iran truce steadied European gas but sparked an oil pullback, pressuring XOM while LMT held gains on defense tailwinds. SPY faces volatility from diplomatic uncertainty. Investors should favor LMT's backlog resilience over XOM's exposure, with SPY as a tactical hedge.
XOMSPYLMT Up 29.8% YTD as Iran Tankers Stall — Is XOM Next to Move?
Trump's April 13 oil blockade announcement idled Iranian tankers off India, boosting LMT's defense prospects via missile demand while pressuring XOM's Middle East ops. LMT's $141B cap and 29.8% YTD gains position it for outperformance; XOM's integrated model weathers supply risks at $110 oil. Bullish on LMT, hold XOM amid escalating tensions.
XOMUSOLMT vs. XOM: Iran Blockade Spikes Missile Demand — One Stock Wins Big
Trump's April 13 Iran port blockade boosts LMT's missile demand via $194B backlog, while XOM navigates supply risks with strong Permian/Guyana output. LMT eyes 2026 EPS jump to $30; XOM's FCF resilience caps downside. Bullish defense, neutral energy play.
XOMOil Tops $100 on US-Iran Stalemate: XOM's $23B FCF Shines as SPY Faces Risk-Off
US-Iran talks stalemated on April 12, driving oil over $100 and pressuring futures, boosting XOM's valuation and LMT's backlog while SPY faces risk-off flows. XOM's $23.6B FCF and low debt position it for margin gains; LMT's 29.8% YTD run holds firm. Overweight energy/defense amid policy fog.
XOMSPYHormuz Blockade Threat Pushes Oil Toward $150 — XOM and LMT Up 30% YTD With More Upside
Trump's April 12 Strait of Hormuz blockade announcement threatens 20% of global oil flows, hitting XOM's Middle East assets but poised to drive crude toward $150. LMT benefits from defense ramp-up amid escalation, with both posting 28-30% YTD gains on cheap valuations. Bullish outlook as supply shocks outweigh near-term volatility.
XOMUSOLMT Eyes 15% Upside as Hormuz Blockade Supercharges Its $194B Defense Backlog
Trump's April 12 Hormuz blockade threat after Iran talks fail risks 20% of global oil flows, supercharging LMT's $194B defense backlog while pressuring XOM's supply chains. LMT eyes 15% upside on missile ramps; XOM/USO neutral amid volatility. Bullish LMT, watch Navy orders and OPEC.
XOMUSOLMT & NOC Surge on China-Iran Missile Warning — Is XLE the Casualty?
Trump's warning over China's alleged anti-air missiles to Iran heightens Middle East risks, positioning Lockheed Martin and Northrop Grumman for backlog growth amid record demand, while XLE grapples with oil volatility. LMT and NOC boast strong financials—$75B/$44B sales guidance, robust FCF—trading at reasonable multiples with 38-50% 1Y gains. Investors should favor defense over energy as U.S. aid ramps.
XLENOCBAIran Talks Collapse: Can XOM, CVX, LMT, NOC Hold Their 25%+ YTD Gains?
JD Vance's announcement of collapsed 21-hour US-Iran talks in Pakistan on April 12 threatens the ceasefire, revitalizing oil supply risks and defense demand. XOM and CVX stand strong with 26-28% YTD gains and robust margins, while LMT and NOC's massive backlogs position them for growth. Bullish outlook as escalation premiums lift valuations.
XOMCVXNOCLMT, NOC: Collapsed Iran Talks After 21 Hours Signal Defense Spending Surge
JD Vance's April 12 announcement of failed 21-hour US-Iran talks in Pakistan threatens the ceasefire and Iran's uranium stockpile security, priming LMT and NOC for missile defense windfalls atop record backlogs and upbeat guidance. Despite recent dips, strong financials and geopolitical tailwinds warrant bullish positioning ahead of potential escalations.
XLENOCXOM Takes $1B+ Hit as US-Iran Talks Stall — What It Means for XLE and Energy Stocks
Reuters' April 11 report on US-Iran talks in Pakistan highlights key issues like Hormuz access, as XOM reveals $1B+ Q1 hits from Middle East disruptions affecting 20% of production. Energy stocks like XOM and XLE stand to gain from potential supply relief, while LMT's defense backlog faces de-escalation risks. Bullish shift to energy recommended ahead of Q2 finalization.
SPYXOMUSOBA's SLS Moon Rocket at Risk: 5 Space Stocks Poised to Win NASA's Next Contracts
Boeing's SLS faces Trump NASA scrutiny, per April 11 Bloomberg report, boosting Lockheed, Northrop, Rocket Lab, BWXT, and Intuitive Machines for lunar bases and nuclear propulsion. LMT and NOC top ranked for stability; BA lags. Article analyzes financials and exposure.
BARTXNOCXOM & LMT: Middle East Oil Surge Eyes $90-100 Oil — Earnings Catalysts Ahead
April 11's global oil panic buying amid Middle East risks highlights tailwinds for XOM and LMT, with Exxon's record production and Lockheed's $194B backlog set for boosts. Recent returns show resilience (XOM +7.6% 1M, LMT +35.9% 3M), supporting a bullish overweight amid potential $90-100/bbl crude.
XOMIran Conflict: LMT & NOC Rally at Risk as Hormuz Reopening Lifts XOM
Trump's April 11 claim of U.S. victory over Iran and Hormuz reopening pressures LMT/NOC after strong YTD rallies while potentially easing XOM's supply strains. Defense stocks trade at premiums with robust FCF; energy leverages integration amid disruptions. Bullish defense long-term, monitor verification.
XOMNOCUSO
Lockheed Martin Corporation company profile
Overview
Lockheed Martin Corporation (NYSE:LMT) is one of the world's largest aerospace, defense, arms, and technology companies. Founded in 1912 as the Alco Hydro-Aeroplane Company and later becoming Lockheed Corporation, the company merged with Martin Marietta in 1995 to form Lockheed Martin. Headquartered in Bethesda, Maryland, the company has evolved from an aircraft manufacturer into a comprehensive security and aerospace technology enterprise serving primarily the U.S. government and allied nations through foreign military sales. With over a century of operations, Lockheed Martin has established itself as a cornerstone of American defense infrastructure, developing some of the most advanced military technologies in the world.
Business
Lockheed Martin operates as a security and aerospace company that researches, designs, develops, manufactures, integrates, and sustains advanced technology systems for military and government applications. The company operates through four primary business segments that collectively generated $71 billion in revenue in 2024. Aeronautics (approximately 40% of revenue) develops and manufactures combat aircraft, air mobility platforms, and unmanned aerial vehicles. The segment's flagship product is the F-35 Lightning II, a fifth-generation multirole stealth fighter jet used by the U.S. military and allied nations. The F-35 represents one of the most advanced fighter aircraft ever built, incorporating stealth technology, advanced sensors, and network connectivity that allows pilots to share information in real-time. The segment also produces the F-16 Fighting Falcon, a proven multirole fighter aircraft, and operates the famous Skunk Works division, which develops classified advanced aircraft programs. Missiles and Fire Control (approximately 25% of revenue) produces air and missile defense systems, tactical missiles, and precision strike weapons. Key products include the PAC-3 missile defense system that intercepts incoming ballistic missiles, the GMLRS (Guided Multiple Launch Rocket System) for precision ground strikes, and the JASSM (Joint Air-to-Surface Standoff Missile) for long-range precision attacks. This segment also develops fire control systems that help military personnel accurately target and engage threats. Rotary and Mission Systems (approximately 25% of revenue) manufactures military helicopters, naval vessels, radar systems, and command and control systems. The segment produces the Sikorsky line of helicopters including the Black Hawk and the new CH-53K King Stallion heavy-lift helicopter. It also develops sophisticated radar systems that detect aircraft and missiles, and integrated mission systems that help military commanders coordinate complex operations. Space (approximately 15% of revenue) creates satellites, space transportation systems, and strategic missile systems. The segment builds communication and reconnaissance satellites that provide critical intelligence and communication capabilities, develops the Orion spacecraft for NASA's deep space exploration missions, and maintains the U.S. Navy's Trident submarine-launched ballistic missiles that serve as a key component of America's nuclear deterrent.
Revenue model
Lockheed Martin generates revenue primarily through government contracts, with the U.S. government representing approximately 70% of total sales and international customers accounting for the remainder. The company operates under several distinct revenue models depending on the business segment and contract type. Product Sales constitute the largest revenue stream, where the company manufactures and delivers complete systems like F-35 aircraft, missiles, helicopters, and satellites. These contracts typically span multiple years and involve fixed-price or cost-plus arrangements. The F-35 program alone represents a multi-decade, multi-trillion-dollar global program with ongoing production and international sales. Service and Sustainment Revenue provides recurring income through long-term support contracts that maintain and upgrade delivered systems throughout their operational lives. This includes spare parts, maintenance services, software updates, and training. The F-35 sustainment program, for example, is expected to generate revenue for decades as aircraft require ongoing support. Research and Development Contracts generate revenue from developing next-generation technologies and systems. The company often receives government funding to develop prototypes and conduct research for future military capabilities, including hypersonic weapons, artificial intelligence applications, and space technologies. Several factors significantly impact the company's margins and profitability. Program execution risk can substantially affect margins, particularly on fixed-price development contracts where cost overruns directly reduce profitability. Production volume heavily influences unit costs, with higher production rates generally improving margins through economies of scale. Supply chain disruptions and component shortages can increase costs and delay deliveries, as experienced during the COVID-19 pandemic. Government budget cycles and defense spending priorities directly affect demand and pricing power. International sales often carry higher margins but face regulatory approval processes and geopolitical risks. Competition from other defense contractors can pressure pricing, while the company's technological leadership and established relationships provide some pricing power on advanced systems.
Competitive moat
Lockheed Martin possesses a substantial competitive moat built on multiple reinforcing factors that create significant barriers to entry and customer switching costs. The company's primary moat stems from its technological expertise and intellectual property accumulated over decades of advanced defense system development. The F-35 program exemplifies this moat - the aircraft incorporates proprietary stealth technology, advanced sensors, and software integration that would require competitors billions of dollars and many years to replicate. Regulatory barriers and security clearances create another formidable moat. The company maintains extensive classified facilities and employs thousands of personnel with high-level security clearances, representing a significant competitive advantage that cannot be easily replicated. New entrants would face years-long processes to obtain necessary clearances and facility certifications. Switching costs for customers are extraordinarily high due to the complexity and integration requirements of defense systems. Military forces invest heavily in training personnel, establishing maintenance infrastructure, and integrating systems into their operational doctrine. Replacing a major platform like the F-35 would require massive retraining and infrastructure changes. Network effects strengthen the moat as more allied nations adopt Lockheed Martin systems, particularly the F-35. This creates interoperability benefits that make the systems more valuable to all users and creates pressure for additional nations to adopt compatible systems. However, the moat faces potential challenges from emerging technologies that could disrupt traditional defense paradigms, such as autonomous systems, cyber warfare capabilities, and space-based assets. New competitors from countries like China are developing indigenous capabilities that could challenge Lockheed Martin's technological leadership in certain areas. Budget constraints and changing military priorities could also pressure the company's market position, particularly if defense spending shifts toward different types of capabilities or platforms.
Risks & safety
Lockheed Martin demonstrates a moderate margin of safety with mixed financial health indicators that reflect both strengths and areas of concern. • Debt and Solvency: High debt-to-equity ratio of 3.2x indicates significant leverage, though this is partially offset by stable government contract cash flows. Current ratio of 1.13 suggests adequate short-term liquidity but limited buffer. • Cash Position: Cash and short-term investments of $2.5 billion provide reasonable liquidity, with positive free cash flow of $5.3 billion in 2024 demonstrating strong cash generation capability. • Valuation Metrics: Trading at 21.7x earnings and 15.2x EBITDA, representing reasonable valuations for a stable defense contractor. Price-to-book ratio of 18.3x appears elevated but reflects the value of intangible assets and contract backlog. • Backlog Security: Record backlog of $176 billion provides substantial revenue visibility and acts as a significant safety buffer against demand volatility. • Other Considerations: Heavy dependence on government contracts creates regulatory and political risks, while the company's essential role in national security provides some protection against budget cuts.
Recent development
Over the past few years, Lockheed Martin has implemented a comprehensive strategic transformation focused on what management calls the "Twenty-First Century Security Strategy" and "Return to Growth" initiative. This strategy emphasizes integrating traditional defense hardware with cutting-edge technologies including artificial intelligence, 5G communications, and distributed cloud computing to enhance existing platforms rather than developing entirely new systems. The company has made significant progress on the F-35 program, which faced substantial challenges with its Technology Refresh 3 (TR-3) software integration. Management has worked through these technical complexities and expects to deliver 170-190 F-35 aircraft in 2025, representing a substantial increase from 110 deliveries in 2024. The program has also expanded internationally, with Romania becoming the 20th global customer. In response to losing the Next Generation Air Dominance (NGAD) program, Lockheed Martin pivoted to applying NGAD technologies to enhance F-35 capabilities, aiming to achieve "80% of sixth-generation capability at 50% of the cost." This approach represents a strategic shift toward upgrading existing platforms rather than developing entirely new aircraft. The Missiles and Fire Control segment has experienced robust growth, with sales increasing 13% in recent quarters driven by increased demand for precision weapons systems. The company has secured significant contracts worth up to $10 billion for various missile programs and has demonstrated counter-drone capabilities responding to evolving battlefield requirements. Lockheed Martin has also launched the Golden Dome Initiative, rapidly responding to government requests for enhanced defense capabilities across ground, space, and command/control segments. The company has proposed over 100 capabilities across its four business areas, demonstrating its ability to quickly adapt to emerging defense requirements. The company has strengthened its supply chain resilience through the 1LMX initiative, consolidating purchasing and developing additional suppliers, particularly for solid rocket motors through partnerships with General Dynamics. This addresses critical supply chain vulnerabilities exposed during recent global disruptions.
LMT company profile · for informational purposes only — not investment advice.
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