# Lockheed Martin Corporation (LMT) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Industrials / Aerospace & Defense. Price $525.28, market value $121.2 billion.

## Valuation
- **P/E (trailing): 19.4×** (5-yr avg 18.6×, 3-yr avg 19.5×). Lockheed Martin Corporation trades at 19.4× trailing earnings, close to its own five-year average of 18.6×. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 16.1×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.6×**. Each dollar of revenue is priced at 1.6×.
- **Price / book: 13.8×**. The shares trade at 13.8× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 7.2%** (5-yr avg 6.2%). Free cash flow equals 7.2% of the market value, in line with its five-year average of 6.2%. Above 5% is generally attractive.
- **Earnings yield: 5.2%**. The inverse of the P/E: 5.2% of the price is earned each year.

## Profitability
- **Gross margin: 11.8%**. Lockheed Martin Corporation keeps 11.8% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 11.9%**. 11.9% of revenue is left after running the business.
- **Net margin: 6.7%**. 6.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 74.6%**. A 74.6% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 29.8%**. Return on all capital, debt included, is 29.8%: comfortably above what that capital costs.
- **Return on assets: 10.5%**. Each dollar of assets produces 10.5% of profit.

## Growth
- **Revenue growth (1 yr): 5.6%** (3-yr 4.4%/yr, 5-yr 2.8%/yr). Revenue grew 5.6% over the last year, against 2.8% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -3.7%** (3-yr -0.3%/yr, 5-yr -2.4%/yr). Earnings per share fell 3.7%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 4.1%/yr**. Free cash flow has compounded at 4.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 3.23**. Debt is 3.23 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Altman Z-score: 3.21**. A Z-score of 3.21 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.63%** ($13.65 per share, trailing). Lockheed Martin Corporation yields 2.63%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 62%** (36% of free cash flow). 62% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 3**. 3 straight years of increases.
- **Dividend growth (5 yr): 6.4%/yr** (1-yr 4.7%). The dividend has grown 6.4% a year over five years.

## Analyst view
- **Analyst consensus: hold** (19 analysts). 19 analysts cover Lockheed Martin Corporation; the consensus is hold, with an average price target of $632.95 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 17.2%** (YTD 9.9%, 3-mo 0.3%). The shares are up 17.2% over twelve months including dividends.
- **From 52-week high: -24.1%** (20.1% above the low). Trading 24% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 33**. An RSI of 33 is neutral.
- **Beta (1 yr): 0.08** (volatility 28%). Beta of 0.08 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=LMT · Page: https://foliofundamentals.com/stocks/lmt

Not investment advice.