Lockheed Martin

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

                    Revenue
                    FY2025
                
$75.0B
                    3y CAGR +4.4%
                    
                    P42
                    
                    +5.6%
                    
                    Net income
                    FY2025
                
$5.0B
                    Net margin +6.7%
                    
                    P19
                    
                    -6.0%
                    
                    Total assets
                    FY2025
                
$59.8B
                    ROA +8.4%
                    
                    P55
                    
                    +7.6%
                    
                    Operating cash flow
                    FY2025
                
$8.6B
                    FCF margin +9.2%
                    
                    P29
                    
                    +22.7%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $59.8B

Total liabilities $53.1B

Shareholders equity $6.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+66.0%	+72.2%	—
Accounts Receivable	+65.9%	+10.3%	—
Inventory	+1.4%	+10.9%	—
Prepaid Expenses	+39.6%	-7.6%	—
Other Current Assets	+39.6%	-7.6%	—
Total Current Assets	+16.1%	+6.5%	—
Property,Plant and Equipment	+1.7%	+4.3%	—
Goodwill	+2.2%	+2.5%	—
Intangible Assets	-6.4%	-8.9%	—
Deferred Tax Assets	-16.4%	+20.5%	—
Other Noncurrent Assets	-16.6%	+10.6%	—
Total Assets	+7.6%	+6.0%	—
Liabilities
Accounts Payable	+63.4%	-3.9%	—
Accrued Liabilities	+7.6%	+70.3%	—
Deferred Revenue	+16.8%	+6.6%	—
Current Portion of Long Term Debt	+81.6%	+282.7%	—
Other Current Liabilities	+7.6%	+70.3%	—
Total Current Liabilities	+20.2%	+14.7%	—
Long Term Debt	+4.6%	+13.5%	—
Deferred Tax Liabilities	-100.0%	-10.6%	—
Other Noncurrent Liabilities	-2.0%	+4.1%	—
Total Liabilities	+7.8%	+8.0%	—
Equity
Preferred Stock	-100.0%	+0.0%	—
Common Stock	-2.1%	-2.5%	—
Additional Paid In Capital	—	—	—
Retained Earnings	-3.6%	-5.5%	—
Treasury Stock	-100.0%	-38.3%	—
Accumulated Other Comprehensive Income	+10.8%	+4.0%	—
Total Stockholders Equity	+6.1%	-7.3%	—
Total Liabilitiesand Equity	+7.6%	+6.0%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $75.0B

Operating income $7.7B

Net income $5.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+5.6%	+5.1%	—
Expenses Cost of Revenue	+5.2%	+8.5%	—
Expenses Research and Development	+25.0%	+6.7%	—
Expenses Depreciation and Amortization	+3.4%	+5.1%	—
Expenses Share Based Compensation	+9.7%	+4.5%	—
Expenses Restructuring and Asset Impairment	-24.1%	-5.4%	—
Other Income Expense Gross Profit	+9.9%	-18.3%	—
Other Income Expense Operating Income	+10.2%	-17.6%	—
Other Income Expense Other Income/expense	+1.1%	+182.8%	—
Other Income Expense Income Before Tax	-4.8%	-23.2%	—
Income Tax Income Tax Expense	+2.4%	-25.0%	—
net Income net Income	-6.0%	-22.9%	—
net Income Comprehensive Income	+4.2%	-7.4%	—
Earnings Per Share Basic Eps	-3.7%	-19.0%	—
Earnings Per Share Diluted Eps	-3.7%	-19.0%	—
Earnings Per Share Weighted Average Shares Basic	-2.3%	-4.8%	—
Earnings Per Share Weighted Average Shares Diluted	-2.4%	-4.8%	—

Cash Flow Statement

Operating, investing, and financing flows

18 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	-6.0%	-22.9%	—
Operating Activities Depreciation and Amortization	+3.4%	+5.1%	—
Operating Activities Stock Based Compensation	+9.7%	+4.5%	—
Operating Activities Deferred Income Taxes	+163.3%	-18.1%	—
Operating Activities Changes In Operating Assets and Liabilities	+187.5%	+10.4%	—
Operating Activities net Cash From Operating Activities	+22.7%	-12.0%	—
Investing Activities Capital Expenditures	-2.1%	-0.4%	—
Investing Activities Other Investing Activities	+206.5%	+3466.7%	—
Investing Activities net Cash From Investing Activities	-10.3%	-5.8%	—
Financing Activities Repayment of Debt	+282.1%	+46.1%	—
Financing Activities Repurchase of Common Stock	-18.9%	-38.3%	—
Financing Activities Dividends Paid	+2.4%	+0.1%	—
Financing Activities Other Financing Activities	+15.4%	-34.8%	—
Financing Activities net Cash From Financing Activities	-19.4%	+43.5%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+66.0%	+72.2%	—
Cash Reconciliation net Change In Cash	+57.3%	+194.2%	—
Cash Reconciliation Cash At Beginning of Period	+66.0%	+72.2%	—
Cash Reconciliation Cash At End of Period	+66.0%	+72.2%	—

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	—	—	9.29x
Efficiency
Asset turnover	1.25x	1.28x	1.29x
Cash conversion cycle	+18d	+19d	+17d

Valuation

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Lockheed Martin

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