COMPOSITE RISK SCORE
44
MODERATE
VAL:15/25 · FIN:11/25 · GRO:8/25 · TECH:10/25
📖 P/B RATIO
17.4x
Price to Book
🏛 MARKET CAP
$117.6B
Large Cap
📊 ROE
67.6%
Return on Equity
Overview
Technical
Financials
Analysis
Verdict
🏢 Company Analysis · Lockheed Martin Corporation
💼 BUSINESS MODEL
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.. Operates in Aerospace & Defense within the Industrials sector. Workforce of 123,000 employees.
🏰 MOAT & COMPETITION
Large-cap ($118B) — established player with meaningful market presence. ROE of 67.6% indicates strong competitive advantage and efficient capital deployment.
🚀 CATALYSTS
No specific near-term catalysts identified from available data.
⚖️ ASYMMETRY CHECK
Analyst target range: $511 — $756 (mean $641, 20 analysts). Favorable asymmetry — upside potential of +48% vs downside floor of +0% (223.7x reward-to-risk).P/E of 24.7x — fair value territory; catalysts needed for re-rating.
🔭 FUTURE OUTLOOK
Analyst consensus: Hold (20 analysts). Latest quarter earnings declined -13% YoY — watch for recovery signals.
P/E at 25x
P/B at 17.4x
Analyst target: $641.35 (+25.8%)
1Y return: +10.0%
ROE: 67.6%
Profit margin: 6.4%
Revenue growth: 0.3%
Debt/Equity: 276%
Revenue growth: 0.3%
Earnings growth: -11.5%
Beta: 0.24
Sector: Industrials
RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals
📈 Price Movement
1D 1W 1M
6M 1Y 3Y 5Y
🕯 Candlestick Chart
1D 1W 1M
6M 1Y 3Y 5Y
🎯 Price Prediction · Analyst Target Cone
📉 Valuation Trends (at current CMP)
P/E P/B MCap/Sales EPS
27.3
24.4
21.5
18.6
15.7
2022
2023
2024
2025
2022: 23.5 2023: 18.5 2024: 22.9 2025: 23.7 23.7
21.3
18.7
16.1
13.4
10.8
2022
2023
2024
2025
2022: 12.7 2023: 17.2 2024: 18.6 2025: 17.5 17.5
2.0
1.9
1.7
1.5
1.3
2022
2023
2024
2025
2022: 1.8 2023: 1.7 2024: 1.6 2025: 1.6 1.6
31.7
28.3
25.0
21.6
18.3
2022
2023
2024
2025
2022: 21.7 2023: 27.6 2024: 22.3 2025: 21.5 21.5
💎 Valuation & Financial Metrics
P/E RATIO
24.7x
Trailing twelve months
P/B RATIO
17.4x
Price to Book value
PROFIT MARGIN
6.4%
Net profit margin
OPM
11.0%
Operating profit margin
ANALYST TARGET
$641.35
Range: $511.00 - $756.00
PEG RATIO
1.09
Price/Earnings to Growth
EV/EBITDA
17.2x
Enterprise value ratio
CURRENT RATIO
1.14
Liquidity measure
DIVIDEND YIELD
2.63%
Annual yield
GROSS MARGIN
9.9%
Gross profit margin
SECTOR BENCHMARKS — AEROSPACE & DEFENSE
P/E (fair) 30.0x (sector mid)
P/B (fair) 5.0x (sector mid)
ROE (good) 20% (sector target)
OPM (good) 20% (sector target)
D/E comfort <30 (sector)
📋 Quarterly Performance Trend
Quarter Revenue QoQ % Net Profit QoQ % Op. Cash Flow EBITDA Margin
Q1 '25
$18.0B —
$1.7B —
$1.4B
15.0%
Q2 '25
$18.2B +1.1%
$342.0M -80.0%
$201.0M
6.0%
Q3 '25
$18.6B +2.5%
$1.6B +373.4%
$3.7B
14.3%
Q4 '25
$20.3B +9.2%
$1.3B -17.0%
$3.2B
11.2%
Q1 '26
$18.0B -11.3%
$1.5B +10.7%
$220.0M
13.5%
📊 Year-on-Year Trend
FY Revenue YoY % Net Profit YoY % Op. Cash Flow YoY %
2021
N/A —
N/A —
N/A —
2022
$66.0B —
$5.7B —
$7.8B —
2023
$67.6B +2.4%
$6.9B +20.7%
$7.9B +1.5%
2024
$71.0B +5.1%
$5.3B -22.9%
$7.0B -12.0%
2025
$75.0B +5.6%
$5.0B -6.0%
$8.6B +22.7%
📈 Revenue vs Earnings
Quarterly
Annual
💰 How Lockheed Martin Corporation Makes Its Money
Quarterly
Annual
Revenue
$18.0B
Cost of Revenue
$15.9B
Gross Profit
$2.1B
Op. Expenses
$15M
Operating Inc.
$2.1B
Tax
$286M
Interest
$269M
Net Income
$1.5B
(8.3% margin)
Mar 2026 · All values in $ Millions
Revenue
$20.3B
Cost of Revenue
$18.0B
Gross Profit
$2.3B
Op. Expenses
-$9M
Operating Inc.
$2.3B
Tax
$187M
Interest
$290M
Other
$510M
Net Income
$1.3B
(6.6% margin)
Dec 2025 · All values in $ Millions
Revenue
$18.6B
Cost of Revenue
$16.4B
Gross Profit
$2.2B
Op. Expenses
-$40M
Operating Inc.
$2.3B
Tax
$319M
Interest
$286M
Net Income
$1.6B
(8.7% margin)
Sep 2025 · All values in $ Millions
Revenue
$18.2B
Cost of Revenue
$17.4B
Gross Profit
$734M
SG&A
$99M
Operating Inc.
$748M
Interest
$274M
Net Income
$342M
(1.9% margin)
Jun 2025 · All values in $ Millions
Revenue
$75.0B
Cost of Revenue
$67.4B
Gross Profit
$7.6B
Op. Expenses
-$112M
Operating Inc.
$7.7B
Tax
$905M
Interest
$1.1B
Other
$691M
Net Income
$5.0B
(6.7% margin)
Dec 2025 · All values in $ Millions
Revenue
$71.0B
Cost of Revenue
$64.1B
Gross Profit
$6.9B
Op. Expenses
-$83M
Operating Inc.
$7.0B
Tax
$884M
Interest
$1.0B
Net Income
$5.3B
(7.5% margin)
Dec 2024 · All values in $ Millions
Revenue
$67.6B
Cost of Revenue
$59.1B
Gross Profit
$8.5B
Op. Expenses
-$28M
Operating Inc.
$8.5B
Tax
$1.2B
Interest
$916M
Other
$507M
Net Income
$6.9B
(10.2% margin)
Dec 2023 · All values in $ Millions
Revenue
$66.0B
Cost of Revenue
$57.7B
Gross Profit
$8.3B
Op. Expenses
-$61M
Operating Inc.
$8.3B
Tax
$948M
Interest
$623M
Other
$1.0B
Net Income
$5.7B
(8.7% margin)
Dec 2022 · All values in $ Millions
Mar 2026
Dec 2025
Sep 2025
Jun 2025
🏦 Snapshot of Lockheed Martin Corporation's Balance Sheet
Quarterly
Annual
Total Assets
$59.2B
Cash & Equiv.: $1.9B (3.2%)
Receivables: $2.3B (3.9%)
Inventory: $4.3B (7.2%)
Other Current: $16.6B (28.0%)
PP&E: $11.3B (19.0%)
Goodwill: $11.3B (19.1%)
Other Intangibles: $1.8B (3.1%)
Other Non-Curr.: $9.7B (16.4%)
Liab. + Equity
$59.2B
Current Liab.: $22.1B (37.3%)
Long-Term Debt: $20.5B (34.7%)
Other Liab.: $9.1B (15.4%)
Equity: $7.5B (12.6%)
As of Mar 2026 · All values in $ Millions
Total Assets
$59.8B
Cash & Equiv.: $4.1B (6.9%)
Receivables: $3.9B (6.5%)
Inventory: $3.5B (5.9%)
Other Current: $13.8B (23.1%)
PP&E: $8.9B (14.8%)
Goodwill: $11.3B (18.9%)
Other Intangibles: $4.3B (7.2%)
Other Non-Curr.: $10.0B (16.7%)
Liab. + Equity
$59.8B
Current Liab.: $23.3B (39.0%)
Long-Term Debt: $20.5B (34.3%)
Other Liab.: $9.3B (15.5%)
Equity: $6.7B (11.2%)
As of Dec 2025 · All values in $ Millions
Total Assets
$60.3B
Cash & Equiv.: $3.5B (5.8%)
Receivables: $3.8B (6.4%)
Inventory: $3.7B (6.2%)
Other Current: $14.9B (24.7%)
PP&E: $8.7B (14.5%)
Goodwill: $11.3B (18.8%)
Other Intangibles: $1.9B (3.2%)
Other Non-Curr.: $12.4B (20.5%)
Liab. + Equity
$60.3B
Current Liab.: $23.0B (38.1%)
Long-Term Debt: $20.5B (34.0%)
Other Liab.: $10.6B (17.6%)
Equity: $6.2B (10.3%)
As of Sep 2025 · All values in $ Millions
Total Assets
$58.9B
Cash & Equiv.: $1.3B (2.2%)
Receivables: $3.3B (5.6%)
Inventory: $3.7B (6.3%)
Other Current: $15.7B (26.7%)
PP&E: $8.7B (14.7%)
Goodwill: $11.3B (19.2%)
Other Intangibles: $2.0B (3.4%)
Other Non-Curr.: $12.9B (21.9%)
Liab. + Equity
$58.9B
Current Liab.: $24.4B (41.4%)
Long-Term Debt: $18.5B (31.5%)
Other Liab.: $10.7B (18.1%)
Equity: $5.3B (9.1%)
As of Jun 2025 · All values in $ Millions
Total Assets
$59.8B
Cash & Equiv.: $4.1B (6.9%)
Receivables: $3.9B (6.5%)
Inventory: $3.5B (5.9%)
Other Current: $13.8B (23.1%)
PP&E: $8.9B (14.8%)
Goodwill: $11.3B (18.9%)
Other Intangibles: $4.3B (7.2%)
Other Non-Curr.: $10.0B (16.7%)
Liab. + Equity
$59.8B
Current Liab.: $23.3B (39.0%)
Long-Term Debt: $20.5B (34.3%)
Other Liab.: $9.3B (15.5%)
Equity: $6.7B (11.2%)
As of Dec 2025 · All values in $ Millions
Total Assets
$55.6B
Cash & Equiv.: $2.5B (4.5%)
Receivables: $2.4B (4.2%)
Inventory: $3.5B (6.2%)
Other Current: $13.5B (24.3%)
PP&E: $8.7B (15.7%)
Goodwill: $11.1B (19.9%)
Other Intangibles: $3.9B (7.0%)
Other Non-Curr.: $10.1B (18.1%)
Liab. + Equity
$55.6B
Current Liab.: $19.4B (34.9%)
Long-Term Debt: $19.6B (35.3%)
Other Liab.: $10.2B (18.4%)
Equity: $6.3B (11.4%)
As of Dec 2024 · All values in $ Millions
Total Assets
$52.5B
Cash & Equiv.: $1.4B (2.7%)
Receivables: $2.1B (4.1%)
Inventory: $3.1B (6.0%)
Other Current: $13.8B (26.3%)
PP&E: $8.4B (16.0%)
Goodwill: $10.8B (20.6%)
Other Intangibles: $2.2B (4.2%)
Other Non-Curr.: $10.6B (20.1%)
Liab. + Equity
$52.5B
Current Liab.: $16.9B (32.3%)
Long-Term Debt: $17.3B (33.0%)
Other Liab.: $11.4B (21.7%)
Equity: $6.8B (13.0%)
As of Dec 2023 · All values in $ Millions
Total Assets
$52.9B
Cash & Equiv.: $2.5B (4.8%)
Receivables: $2.5B (4.7%)
Inventory: $3.1B (5.8%)
Other Current: $12.9B (24.3%)
PP&E: $8.0B (15.1%)
Goodwill: $10.8B (20.4%)
Other Intangibles: $2.5B (4.7%)
Other Non-Curr.: $10.7B (20.2%)
Liab. + Equity
$52.9B
Current Liab.: $15.9B (30.0%)
Long-Term Debt: $15.4B (29.2%)
Other Liab.: $12.3B (23.3%)
Equity: $9.3B (17.5%)
As of Dec 2022 · All values in $ Millions
Mar 2026
Dec 2025
Sep 2025
Jun 2025
💸 Looking into Lockheed Martin Corporation's Cash Flow
Quarterly
Annual
Operating CF
$220M
Capital Exp.
$511M
FY2026 · All values in $ Millions
Operating CF
$3.2B
Capital Exp.
$463M
Free Cash Flow
$2.8B
Dividends
$799M
Buybacks
$750M
Debt Repaid
$500M
Retained / Other
$707M
FY2025 · All values in $ Millions
Operating CF
$3.7B
Capital Exp.
$381M
Free Cash Flow
$3.3B
Dividends
$765M
Buybacks
$1.0B
Retained / Other
$1.6B
FY2025 · All values in $ Millions
Operating CF
$201M
Capital Exp.
$351M
FY2025 · All values in $ Millions
Operating CF
$8.6B
Capital Exp.
$1.6B
Free Cash Flow
$6.9B
Dividends
$3.1B
Buybacks
$3.0B
Debt Repaid
$642M
Retained / Other
$135M
FY2025 · All values in $ Millions
Operating CF
$7.0B
Capital Exp.
$1.7B
Free Cash Flow
$5.3B
Dividends
$3.1B
Buybacks
$3.7B
Debt Repaid
$168M
FY2024 · All values in $ Millions
Operating CF
$7.9B
Capital Exp.
$1.7B
Free Cash Flow
$6.2B
Dividends
$3.1B
Buybacks
$6.0B
Debt Repaid
$115M
FY2023 · All values in $ Millions
Operating CF
$7.8B
Capital Exp.
$1.7B
Free Cash Flow
$6.1B
Dividends
$3.0B
Buybacks
$7.9B
Debt Repaid
$2.2B
FY2022 · All values in $ Millions
FY2026
FY2025
FY2025
FY2025
🎯 EPS: Estimate vs Actual
Estimates
Quarterly
Annual
📅 Quarterly Results
Item Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Total Revenue $18.02B $20.32B $18.61B $18.16B $17.96B Cost of Revenue $15.94B $18.00B $16.37B $17.42B $15.64B Gross Profit $2.08B $2.32B $2.24B $734.0M $2.32B Operating Expense $15.0M $-9.0M $-40.0M $-14.0M $-49.0M Operating Income $2.06B $2.33B $2.28B $748.0M $2.37B Interest Expense $269.0M $290.0M $286.0M $274.0M $268.0M Pretax Income $1.77B $1.53B $1.94B $417.0M $2.04B Tax Provision $286.0M $187.0M $319.0M $75.0M $324.0M Net Income $1.49B $1.34B $1.62B $342.0M $1.71B EBITDA $2.44B $2.28B $2.65B $1.09B $2.70B EPS (Basic) $6.47 $5.82 $6.98 $1.46 $7.30 EPS (Diluted) $6.44 $5.80 $6.95 $1.46 $7.28 Shares Outstanding 231.1M 231.9M 232.8M 234.3M 235.3M
📊 Profit & Loss Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Revenue $75.05B $71.04B $67.57B $65.98B — Cost of Revenue $67.43B $64.11B $59.09B $57.70B — Gross Profit $7.62B $6.93B $8.48B $8.29B — Operating Expense $-112.0M $-83.0M $-28.0M $-61.0M — Operating Income $7.73B $7.01B $8.51B $8.35B — Interest Expense $1.12B $1.04B $916.0M $623.0M — Pretax Income $5.92B $6.22B $8.10B $6.68B — Tax Provision $905.0M $884.0M $1.18B $948.0M — Net Income $5.02B $5.34B $6.92B $5.73B — EBITDA $8.73B $8.81B $10.44B $8.71B — EPS (Basic) $21.56 $22.39 $27.65 $21.74 — EPS (Diluted) $21.49 $22.31 $27.55 $21.66 — Shares Outstanding 233.5M 239.2M 251.2M 264.6M —
🏦 Balance Sheet
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Assets $59.84B $55.62B $52.46B $52.88B — Current Assets $25.36B $21.85B $20.52B $20.99B — Cash & Equivalents $4.12B $2.48B $1.44B $2.55B — Accounts Receivable $3.90B $2.35B $2.13B $2.50B — Inventory $3.52B $3.47B $3.13B $3.09B — Non-Current Assets $34.48B $33.77B $31.93B $31.89B — Property Plant & Equip $8.88B $8.73B $8.37B $7.97B — Goodwill $11.31B $11.07B $10.80B $10.78B — Intangible Assets $15.62B $14.95B $13.01B $13.24B — Total Liabilities $53.12B $49.28B $45.62B $43.61B — Current Liabilities $23.34B $19.42B $16.94B $15.89B — Accounts Payable $3.63B $2.22B $2.31B $2.12B — Short-Term Debt $1.17B $643.0M $168.0M $118.0M — Long-Term Debt $20.53B $19.63B $17.29B $15.43B — Total Equity $6.72B $6.33B $6.83B $9.27B — Retained Earnings $14.03B $14.55B $15.40B $16.94B — Book Value/Share -8.90B -8.62B -6.18B -3.97B —
💰 Cash Flow Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Operating Cash Flow $8.56B $6.97B $7.92B $7.80B — Depreciation & Amort. $1.69B $1.56B $1.43B $1.40B — Change in Working Cap $186.0M $-163.0M $184.0M $-585.0M — Capital Expenditure $-1.65B $-1.69B $-1.69B $-1.67B — Free Cash Flow $6.91B $5.29B $6.23B $6.13B — Investing Cash Flow $-1.98B $-1.79B $-1.69B $-1.79B — Acquisitions — — — — $0 Financing Cash Flow $-4.94B $-4.14B $-7.33B $-7.07B — Debt Issued $1.99B $2.97B $1.98B $6.21B — Debt Repaid $-642.0M $-168.0M $-115.0M $-2.25B — Dividends Paid $-3.13B $-3.06B $-3.06B $-3.02B — Share Buyback $-3.00B $-3.70B $-6.00B $-7.90B — Net Change in Cash $1.64B $1.04B $-1.10B $-1.06B —
📈 Key Financial Ratios
Ratio FY2025 FY2024 FY2023 FY2022 FY2021 Gross Margin % 10.2% 9.8% 12.5% 12.6% — Operating Margin % 10.3% 9.9% 12.6% 12.7% — Net Margin % 6.7% 7.5% 10.2% 8.7% — EBITDA Margin % 11.6% 12.4% 15.5% 13.2% — ROE % 74.6% 84.3% 101.2% 61.9% — ROA % 8.4% 9.6% 13.2% 10.8% — Debt/Equity % 322.9% 320.1% 255.4% 167.8% — Current Ratio 1.09 1.13 1.21 1.32 — FCF Margin % 9.2% 7.4% 9.2% 9.3% — Asset Turnover 1.25 1.28 1.29 1.25 —
🚀 Compounded Growth Rates
Revenue
1-Year +5.6% 3-Year CAGR +5.4%
Net Profit
1-Year -6.0% 3-Year CAGR -14.9%
EPS
1-Year -3.7% 3-Year CAGR -11.7%
🏭 Industry Peers — Aerospace & Defense
Ticker Company Price P/E P/B MCap ROE Margin Rev Growth CAT Caterpillar, Inc. $815.94 43.4 17.8 $379.6B 43.5% 13.1% 18.0% HON Honeywell International Inc. $212.47 33.9 9.9 $134.6B 24.3% 10.9% 2.4% UNP Union Pacific Corporation $269.75 22.2 8.7 $160.2B 40.7% 29.2% 3.2% BA Boeing Company (The) $228.55 90.7 30.1 $180.2B 169.9% 2.5% 14.0% RTX RTX Corporation $173.00 32.5 3.6 $233.0B 11.6% 8.0% 8.7% DE Deere & Company $565.16 31.9 5.8 $152.7B 19.6% 10.3% -11.1% GE GE Aerospace $285.44 35.5 16.0 $298.2B 45.4% 17.9% 24.7% MMM 3M Company $145.62 28.1 23.3 $76.0B 71.5% 11.1% 1.3%
Peers selected from Industrials sector · Data from Yahoo Finance
🏛 Shareholding Pattern
TOP HOLDERS
Holder Type Shares % Held State Street Corporation Inst 33,666,918 14.60% Vanguard Group Inc Inst 21,271,281 9.23% Blackrock Inc. Inst 17,709,735 7.68% Charles Schwab Investment Managemen Inst 8,638,936 3.75% Morgan Stanley Inst 5,728,551 2.48% VANGUARD INDEX FUNDS-Vanguard Total MF 7,271,557 3.15% SCHWAB STRATEGIC TRUST-Schwab US Di MF 6,286,794 2.73% VANGUARD INDEX FUNDS-Vanguard 500 I MF 5,135,810 2.23%
🟢 CATALYSTS
🏆 Positive Revenue Growth: Revenue growing at 0.3% YoY.
💹 High ROE (67.6%): Above sector norm of 20% — efficient capital use.
🔀 Analyst Upside (26%): Mean target of $641.35 above current price.
🇺 Low Beta (0.24): Less volatile than market — defensive play.
🔴 RISKS
📜 High P/B (17.4x): Well above sector expensive threshold of 10x.
💰 High Debt/Equity (276%): Above sector threshold of 80% — leverage risk.
🔓 Market Risk: Broader market correction or sentiment shift could impact stock.
🕸 Factor Analysis · Radar
Momentum 3/10: 1M -14.8%, 6M +6.3%, RSI 19, MACD bearish, Below 200DMA Sentiment 7/10: Analyst upside +25.8%, Rec: hold Value 5/10: P/E 24.7, P/B 17.4, PEG 1.09, EV/EBITDA 17.2 Quality 6/10: ROE 67.6%, Margin 6.4%, D/E 276, CR 1.14 Low Volatility 9/10: Beta 0.24, Ann. vol 27% Momentum
3
Sentiment
7
Value
5
Quality
6
Low Vol
9
Momentum 3/10 1M -14.8%, 6M +6.3%, RSI 19, MACD bearish, Below 200DMA
Sentiment 7/10 Analyst upside +25.8%, Rec: hold
Value 5/10 P/E 24.7, P/B 17.4, PEG 1.09, EV/EBITDA 17.2
Quality 6/10 ROE 67.6%, Margin 6.4%, D/E 276, CR 1.14
Low Volatility 9/10 Beta 0.24, Ann. vol 27%
🎯 Decision Matrix — Game Theory
Action If Stock Rises If Stock Falls
BUY Capture 25.8% analyst upside OPM of 11% provides margin buffer HOLD Retain existing position; wait for better entry Miss further upside if momentum continues SELL Lock in +10.0% 1Y return Avoid further drawdown
REASONS TO BUY
Analyst upside of 25.8% with mean target of $641.35
ROE of 67.6% above sector norm of 20%
REASONS TO SELL / AVOID
Debt/Equity at 276% exceeds sector comfort zone
Lockheed Martin Corporation trades at $509.90 with a composite risk score of 44/100.
The stock scores 15/25 on valuation, 11/25 on financial health, 8/25 on growth, and 10/25 on technicals.
The company is currently profitable with strong return on equity.
Bottom Line: Neutral for Industrials — wait for better entry or catalyst. The current recommendation is HOLD .
HIGH ROE
UPSIDE POTENTIAL
HIGH DEBT