“...pleasure and pain, they come and go and don't last... bear them patiently”
—Gita
Pathos InvestmentsEquity Research
Research  ›  Fact Sheets  ›  LMT

LOCKHEED MARTIN CORP

LISTEDNYSE
SYMBOLLMT
SIC3760
STATE OF INC.MD
FISCAL YEAR ENDSDecember 31
CIK936468

GUIDED MISSILES & SPACE VEHICLES & PARTS · LARGE ACCELERATED FILER · 10 FISCAL YEARS OF SEC XBRL DATA, 2016–2025

REVENUES, NET INCOME AND FREE CASH FLOW BY FISCAL YEAR$ billions0204060802016201720182019202020212022202320242025RevenuesNet incomeFree cash flowEARNINGS AND DIVIDENDS PER SHARE$ per share0.0010.0020.0030.002016201720182019202020212022202320242025EPS dilutedDividends per share

Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.

CAPITALIZATION 12/31/25

($ millions)Amount%
Total debt21,70076.4
Stockholders' equity6,72123.6
Total capitalization28,421100.0

230,790,753 shares outstanding at 20 July 2026 (cover page of the 10-Q filed 23 July 2026).

LONG-TERM DEBT 12/31/25

($ millions)Amount
Long-term debt, incl. current maturities21,700
Long-term debt, noncurrent20,532
Current maturities1,168

CAPITAL STOCK 12/31/25

Common shares authorized1,500,000,000
Common shares issued230,000,000
Par or stated value per share ($)1
Outstanding at 7/20/26230,790,753

DIVIDENDS DECLARED/PAID

Fiscal yearPer share $Payout %
202513.3562.1
202412.7557.1
202312.1544.1
202211.4052.6
202110.6046.6

HISTORY AND BUSINESS

HISTORY: Incorporated in Maryland.

BUSINESS: Classified by the SEC under Standard Industrial Classification 3760, Guided Missiles & Space Vehicles & Parts. Large accelerated filer. Principal executive office: 6801 Rockledge Dr, Bethesda, MD 20817. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.

CONSOLIDATED INCOME ACCOUNT, YEARS ENDED

($ millions)12/31/2512/31/2412/31/23
Revenues75,04871,04367,571
Cost of revenues67,42964,11359,092
Gross profit7,6196,9308,479
Research and development2,0001,6001,500
Depreciation and amortization1,6871,5591,430
Operating income7,7317,0138,507
Interest expense1,1181,036916
Income before income taxes5,9226,2208,098
Income taxes9058841,178
Net income5,0175,3366,920
Earned per share, diluted ($)21.4922.3127.55
Dividends per share ($)13.3512.7512.15

CONSOLIDATED BALANCE SHEET

($ millions)12/31/2512/31/24
Cash and equivalents4,1212,483
Receivables, net3,9012,351
Inventories3,5243,474
Total current assets25,36221,849
Property, plant and equipment, net8,8758,726
Goodwill11,31411,067
Total assets59,84055,617
Total current liabilities23,33519,420
Long-term debt20,53219,627
Total liabilities53,11949,284
Stockholders' equity6,7216,333
Total liabilities and equity59,84055,617

TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)

Fiscal year endedRevenuesOper. incomeNet incomeNet margin %EPS diluted $Div. per share $Oper. cash flowCapital expend.Free cash flowTotal assetsTotal liabilitiesTotal debtStockholders' equityROE %Debt / equity
12/31/2575,0487,7315,0176.721.4913.358,5571,6496,90859,84053,11921,7006,72174.63.23
12/31/2471,0437,0135,3367.522.3112.756,9721,6855,28755,61749,28420,2706,33384.33.20
12/31/2367,5718,5076,92010.227.5512.157,9201,6916,22952,45645,62117,4596,835101.22.55
12/31/2265,9848,3485,7328.721.6611.407,8021,6706,13252,88043,61415,5479,26661.91.68
12/31/2167,0449,1236,3159.422.7610.609,2211,5227,69950,87339,91411,67610,95957.61.07
12/31/2065,3988,6446,83310.424.309.808,1831,7666,41750,71044,67212,1696,015113.62.02
12/31/1959,8128,5456,23010.421.959.007,3111,4845,82747,52844,35712,6543,127199.24.05
12/31/1853,7627,3345,0469.417.598.203,1381,2781,86044,87643,42714,7041,394362.010.55
12/31/1749,9606,7441,9633.96.757.466,4761,1775,29946,62047,39614,263(850)-230.9-16.78
12/31/1647,2905,8885,17310.917.076.775,1891,0634,12647,80646,20014,2821,511342.49.45

Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.

REGISTRANT:

LOCKHEED MARTIN CORP
CIK 936468 · EIN 52-1893632

PRINCIPAL OFFICE:

6801 Rockledge Dr, Bethesda, MD 20817
Tel.: 3018976000

INCORPORATED:

Maryland

INDUSTRY (SEC SIC CODE):

3760 · Guided Missiles & Space Vehicles & Parts

FILER STATUS:

Large accelerated filer

LATEST ANNUAL REPORT:

10-K for period ended 12/31/25, filed 29 January 2026

FORMER NAMES:

LOCKHEED MARTIN CORP

RECENT FILINGS (ANNUAL REPORT REFERENCES BELOW):

8/28/268-Kperiod 8/24/26
7/23/2610-Qperiod 6/28/26
7/23/268-Kperiod 7/23/26
5/13/268-Kperiod 5/12/26
4/23/2610-Qperiod 3/29/26
4/23/268-Kperiod 4/23/26
3/26/26DEF 14Aperiod 5/12/26
1/29/2610-Kperiod 12/31/25

Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 1/29/26) · 10-K FY2024 (filed 1/28/25) · 10-K FY2023 (filed 1/23/24) · 10-K FY2022 (filed 1/26/23) · 10-K FY2021 (filed 1/25/22) · 10-K FY2020 (filed 1/28/21) · 10-K FY2019 (filed 2/7/20) · 10-K FY2018 (filed 2/8/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.

Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.

Data from SEC filings  ·  Educational only  ·  Not investment advice