LMT Stock Analysis: Lockheed Martin | NYSE
Aerospace & Defense | NYSE, USA | Market Cap: 136.146m USD | 12M Return: 31.3% | US5398301094 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 682M
EPS Trend: -30.6%
Qual. Beats: 0
Rev. Trend: 96.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Lockheed Martin Corporation (NYSE: LMT) is a U.S.-based aerospace and defense company that researches, designs, develops, manufactures, integrates, and sustains technology systems, products, and services for customers across the United States, Europe, Asia, the Middle East, and other international markets. The company operates through four business segments: Aeronautics; Missiles and Fire Control (MFC); Rotary and Mission Systems (RMS); and Space, covering combat aircraft, missile defense systems, helicopters, naval platforms, satellites, and classified national security systems.
The companys primary customer base is the U.S. government, supplemented by international clients and foreign military sales (FMS) contracted through the U.S. government. As a large-cap defense prime contractor, Lockheed Martins business model is heavily reliant on long-term government contracts, which typically provide revenue visibility but expose the company to budget cycles and political risk.
Lockheed Martin was founded in 1912 and is headquartered in Bethesda, Maryland. The company was originally known as The Lockheed Corporation and adopted its current name in March 1995 following a merger.
- F-35 production deliveries accelerate Aeronautics backlog conversion
- DoD supplemental appropriations boost missile defense and munitions demand
- Fixed-price contract losses and pension costs pressure operating margins
| Net Income: 6.51b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 5.37 > 1.0 |
| NWC/Revenue: 8.17% < 20% (prev 4.04%; Δ 4.13% < -1%) |
| CFO/TA 0.16 > 3% & CFO 10.1b > Net Income 6.51b |
| Net Debt (15.7b) to EBITDA (10.5b): 1.50 < 3 |
| Current Ratio: 1.26 > 1.5 & < 3 |
| Outstanding Shares: last quarter (231.5m) vs 12m ago -0.56% < -2% |
| Gross Margin: 11.74% > 18% (prev 8.16%; Δ 3.58% > 0.5%) |
| Asset Turnover: 126.8% > 50% (prev 121.7%; Δ 5.13% > 0%) |
| Interest Coverage Ratio: 8.06 > 6 (EBIT TTM 8.78b / Interest Expense TTM 1.09b) |
| A: 0.10 (Total Current Assets 31.0b - Total Current Liabilities 24.5b) / Total Assets 64.5b |
| B: 0.26 (Retained Earnings 16.8b / Total Assets 64.5b) |
| C: 0.14 (EBIT TTM 8.78b / Avg Total Assets 62.4b) |
| D: 0.18 (Book Value of Equity 10.1b / Total Liabilities 54.4b) |
| Altman-Z'' = 2.65 = A |
| DSRI: 0.16 (Receivables 3.10b/17.8b, Revenue 79.1b/73.3b) |
| GMI: 0.70 (GM 8.16% / 11.74%) |
| AQI: 0.80 (AQ_t 0.34 / AQ_t-1 0.43) |
| SGI: 1.08 (Revenue 79.1b / 73.3b) |
| TATA: -0.06 (NI 6.51b - CFO 10.1b) / TA 64.5b) |
| Beneish M = -4.06 (Cap -4..+1) = AAA |
As of October 28, 2026, the stock is trading at USD 622.99 with a total of 2,166,477 shares traded. Over the past week, the price has changed by +13.54%, over one month by +20.25%, over three months by +8.08% and over the past year by +31.25%.
Current recommended Stop Loss: 588.40 (which is 5.6% or 2 ATR below the current price).
Lockheed Martin has received a consensus analysts rating of 3.70. Therefore, it is recommended to hold LMT.
- StrongBuy: 8
- Buy: 2
- Hold: 12
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 618.9 | -0.7% |
P/E Trailing = 20.3277
P/E Forward = 16.1551
P/S = 1.7678
P/B = 14.1636
P/EG = 1.0155
Revenue TTM = 79.1b USD
EBIT TTM = 8.78b USD
EBITDA TTM = 10.5b USD
Long Term Debt = 20.5b USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.17b USD (from shortTermDebt, last fiscal year)
Debt = 21.7b USD (corrected: LT Debt 20.5b + ST Debt 1.17b)
Net Debt = 15.7b USD (calculated: Debt 21.7b - CCE 5.96b)
Enterprise Value = 152b USD (136b + Debt 21.7b - CCE 5.96b)
Interest Coverage Ratio = 8.06 (Ebit TTM 8.78b / Interest Expense TTM 1.09b)
EV/FCF = 18.12x (Enterprise Value 152b / FCF TTM 8.38b)
FCF Yield = 5.52% (FCF TTM 8.38b / Enterprise Value 152b)
FCF Margin = 10.59% (FCF TTM 8.38b / Revenue TTM 79.1b)
Net Margin = 8.23% (Net Income TTM 6.51b / Revenue TTM 79.1b)
Gross Margin = 11.74% ((Revenue TTM 79.1b - Cost of Revenue TTM 69.8b) / Revenue TTM)
Gross Margin QoQ = 11.76% (prev 12.19%)
Tobins Q-Ratio = 2.35 (Enterprise Value 152b / Total Assets 64.5b)
Interest Expense / Debt = 5.02% (Interest Expense 1.09b / Debt 21.7b)
Taxrate = 14.92% (1.14b / 7.66b)
NOPAT = 7.47b (EBIT 8.78b * (1 - 14.92%))
Current Ratio = 1.26 (Total Current Assets 31.0b / Total Current Liabilities 24.5b)
Debt / Equity = 2.16 (Debt 21.7b / totalStockholderEquity, last quarter 10.1b)
Debt / EBITDA = 1.50 (Net Debt 15.7b / EBITDA 10.5b)
Debt / FCF = 1.88 (Net Debt 15.7b / FCF TTM 8.38b)
Total Stockholder Equity = 8.26b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.44% (Net Income 6.51b / Total Assets 64.5b)
RoE = 78.85% (Net Income TTM 6.51b / Total Stockholder Equity 8.26b)
RoCE = 30.49% (EBIT 8.78b / Capital Employed (Equity 8.26b + L.T.Debt 20.5b))
RoIC = 20.09% (NOPAT 7.47b / Invested Capital 37.2b)
WACC = 4.80% (E(136b)/V(158b) * Re(4.89%) + D(21.7b)/V(158b) * Rd(5.02%) * (1-Tc(0.15)))
Discount Rate = 4.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -96.04 | Cagr: -1.52%
[DCF] Terminal Value 77.97% ; FCFF base≈6.87b ; Y1≈7.87b ; Y5≈11.6b
[DCF] Fair Price = 687.1 (EV 174b - Net Debt 15.7b = Equity 159b / Shares 230.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -30.58 | EPS CAGR: -5.77% | SUE: 0.20 | # QB: 0
Revenue Correlation: 96.31 | Revenue CAGR: 4.85% | SUE: 0.61 | # QB: 0
EPS current Quarter (2027-03-31): EPS=7.24 | Chg30d=+0.21% | Revisions=+40% | Analysts=8
EPS current Year (2026-12-31): EPS=30.44 | Chg30d=-0.14% | Revisions=-38% | GrowthEPS=+41.6% | GrowthRev=+7.9%
EPS next Year (2027-12-31): EPS=32.74 | Chg30d=-0.05% | Revisions=+62% | GrowthEPS=+7.6% | GrowthRev=+5.7%
[Analyst] Revisions Ratio: +27% (up=8, down=4)