Lockheed Martin

Industrials Aerospace & Defense Bethesda, Maryland Last filing Jan 29, 2026 · FY2025

                    Revenue
                    FY2025
                
$75.0B
                    3y CAGR +4.4%
                    
                    P43
                    
                    +5.6%
                    
                    Net income
                    FY2025
                
$5.0B
                    Net margin +6.7%
                    
                    P17
                    
                    -6.0%
                    
                    Total assets
                    FY2025
                
$59.8B
                    ROA +8.4%
                    
                    P52
                    
                    +7.6%
                    
                    Operating cash flow
                    FY2025
                
$8.6B
                    FCF margin +9.2%
                    
                    P35
                    
                    +22.7%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 3 years

Total assets $59.8B

Total liabilities $53.1B

Shareholders equity $6.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$4.1B 66.0%	$2.5B 72.2%	$1.4B
Accounts Receivable	$3.9B 65.9%	$2.4B 10.3%	$2.1B
Inventory	$3.5B 1.4%	$3.5B 10.9%	$3.1B
Other Current Assets	$13.8B 2.0%	$13.5B -2.0%	$13.8B
Total Current Assets	$25.4B 16.1%	$21.8B 6.5%	$20.5B
Property,Plant and Equipment	$8.9B 1.7%	$8.7B 4.3%	$8.4B
Goodwill	$11.3B 2.2%	$11.1B 2.5%	$10.8B
Intangible Assets	$4.3B 9.5%	$3.9B 77.0%	$2.2B
Deferred Tax Assets	$3.0B -16.4%	$3.6B 20.5%	$3.0B
Other Noncurrent Assets	$7.0B 7.2%	$6.5B -14.0%	$7.6B
Total Assets	$59.8B 7.6%	$55.6B 6.0%	$52.5B
Liabilities
Accounts Payable	$3.6B 63.4%	$2.2B -3.9%	$2.3B
Accrued Liabilities	$3.2B 1.9%	$3.1B -0.3%	$3.1B
Deferred Revenue	$11.4B 16.8%	$9.8B 6.6%	$9.2B
Current Portion of Long Term Debt	$1.2B 81.6%	$643.0M 282.7%	$168.0M
Other Current Liabilities	$3.9B 7.6%	$3.6B 70.3%	$2.1B
Total Current Liabilities	$23.3B 20.2%	$19.4B 14.7%	$16.9B
Long Term Debt	$20.5B 4.6%	$19.6B 13.5%	$17.3B
Other Noncurrent Liabilities	$9.3B -9.6%	$10.2B -10.1%	$11.4B
Total Liabilities	$53.1B 7.8%	$49.3B 8.0%	$45.6B
Equity
Common Stock	$229.0M -2.1%	$234.0M -2.5%	$240.0M
Additional Paid In Capital	$0	$0	$0
Retained Earnings	$14.0B -3.6%	$14.6B -5.5%	$15.4B
Accumulated Other Comprehensive Income	$-7.5B 10.8%	$-8.5B 4.0%	$-8.8B
Total Stockholders Equity	$6.7B 6.1%	$6.3B -7.3%	$6.8B
Total Liabilitiesand Equity	$59.8B 7.6%	$55.6B 6.0%	$52.5B

Income Statement

Revenue, expense, and profitability

13 accounts · 3 years

Revenue $75.0B

Operating income $7.7B

Net income $5.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$75.0B 5.6%	$71.0B 5.1%	$67.6B
Expenses Cost of Revenue	$67.4B 5.2%	$64.1B 8.5%	$59.1B
Other Income Expense Gross Profit	$7.6B 9.9%	$6.9B -18.3%	$8.5B
Expenses Other Operating Expenses	$-112.0M -34.9%	$-83.0M -196.4%	$-28.0M
Other Income Expense Operating Income	$7.7B 10.2%	$7.0B -17.6%	$8.5B
Other Income Expense Interest Expense	$1.1B 7.9%	$1.0B 13.1%	$916.0M
Other Income Expense Other Income/expense	$-691.0M -384.4%	$243.0M -52.1%	$507.0M
Other Income Expense Income Before Tax	$5.9B -4.8%	$6.2B -23.2%	$8.1B
Income Tax Income Tax Expense	$905.0M 2.4%	$884.0M -25.0%	$1.2B
net Income net Income	$5.0B -6.0%	$5.3B -22.9%	$6.9B
net Income Comprehensive Income	$5.9B 4.2%	$5.7B -7.4%	$6.1B
Earnings Per Share Basic Eps	$22 -3.7%	$22 -19.0%	$28
Earnings Per Share Diluted Eps	$21 -3.7%	$22 -19.0%	$28

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 3 years

Operating cash flow $8.6B

Investing cash flow $-2.0B

Financing cash flow $-4.9B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$5.0B -6.0%	$5.3B -22.9%	$6.9B
Operating Activities Depreciation and Amortization	$1.7B 8.2%	$1.6B 9.0%	$1.4B
Operating Activities Stock Based Compensation	$304.0M 9.7%	$277.0M 4.5%	$265.0M
Operating Activities Deferred Income Taxes	$372.0M 163.3%	$-588.0M -18.1%	$-498.0M
Operating Activities Changes In Operating Assets and Liabilities	$-983.0M 40.9%	$-1.7B -398.2%	$-334.0M
Operating Activities Other Non Cash Items	$2.2B 5.3%	$2.1B 1397.8%	$137.0M
Operating Activities net Cash From Operating Activities	$8.6B 22.7%	$7.0B -12.0%	$7.9B
Investing Activities Capital Expenditures	$-1.6B 2.1%	$-1.7B 0.4%	$-1.7B
Investing Activities Other Investing Activities	$-328.0M -206.5%	$-107.0M -3466.7%	$-3.0M
Investing Activities net Cash From Investing Activities	$-2.0B -10.3%	$-1.8B -5.8%	$-1.7B
Financing Activities Proceeds From Debt	$2.0B -33.2%	$3.0B 50.4%	$2.0B
Financing Activities Repayment of Debt	$-642.0M -282.1%	$-168.0M -46.1%	$-115.0M
Financing Activities Repurchase of Common Stock	$-3.0B 18.9%	$-3.7B 38.3%	$-6.0B
Financing Activities Dividends Paid	$-3.1B 0.0%	$-3.1B 0.0%	$-3.1B
Financing Activities Other Financing Activities	$-154.0M 15.4%	$-182.0M -34.8%	$-135.0M
Financing Activities net Cash From Financing Activities	$-4.9B -19.4%	$-4.1B 43.5%	$-7.3B
Cash Reconciliation net Change In Cash	$1.6B 57.3%	$1.0B 194.2%	$-1.1B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+10.2%	+9.8%	+12.5%
Operating margin	+10.3%	+9.9%	+12.6%
Net margin	+6.7%	+7.5%	+10.2%
FCF margin	+9.2%	+7.4%	+9.2%
Growth
Revenue CAGR (3y)	+4.4%	+1.9%	+1.1%
Returns
ROE	+74.6%	+84.3%	+101.2%
ROA	+8.4%	+9.6%	+13.2%
ROIC	+27.0%	+24.9%	+31.8%
Liquidity
Current ratio	1.09x	1.13x	1.21x
Quick ratio	0.34x	0.25x	0.21x
Leverage
D/E	7.90x	7.78x	6.67x
Interest coverage	6.92x	6.77x	9.29x
Efficiency
Asset turnover	1.25x	1.28x	1.29x
Cash conversion cycle	+18d	+19d	+17d

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Lockheed Martin

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