LMT
LMT
Lockheed Martin Corporation
$548.71
+0.09% 2026-10-20
IndustrialsS&P 500
LMTSPY
1W
+8.9%
1M
+2.9%
3M
+8.9%
6M
-2.8%
YTD
+15.5%
1Y
+11.3%
Live chart
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Grades vs sector
Momentum48th pct in sectorC
Momentum
48th pct in sector
12-1 return: +6.2%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Growth55th pct in sectorC+
Growth
55th pct in sector
Revenue growth (YoY): +10.5%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Value50th pct in sectorC+
Value
50th pct in sector
Forward E/P: 5.9% · EBITDA/EV: 6.7%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Profitability74th pct in sectorB+
Profitability
74th pct in sector
Profit margin: +8.2% · Return on equity: +89.2%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
RevisionsNot enough data yet–
Revisions
Not enough data yet
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 5 live models right now.
Quality Growth
not ranked (outside this model's universe or screens)
Momentum Top 15rank 217 of 499 · 12-1 momentum % 14.6
Momentum Blendnot in the current book
New Highs Growthnot ranked (outside this model's universe or screens)
Conviction 20not in the current book
News
More news3 High-Yielding Dividend Stocks That Investors Can Safely Buy and Hold for Years
Motley Fool · 8h ago
Nasdaq Jumps Past 1 Percent as VIX Swings While Dow Dips Below Its 50-Day Line
CNW Group · Oct 19
Why Lockheed Martin May Be an Underrated Stock to Buy Right Now
Nasdaq · Oct 19
U.S. Army Awards Javelin Joint Venture $215 Mln Contract For Lightweight Launchers
Nasdaq · Oct 19
Norway's $2 trillion wealth fund was frozen out of major defense companies. That may be about to change
CNBC · Oct 16
Key stats
Market cap$126.6B
P/E (trailing)20.2
P/E (forward)16.8
52-week range437.25 – 692.00
Revenue growth (YoY, latest qtr)+10.5%
Dividend yield2.63%
Analyst consensusBuy (21)
Mean price target$618.86 (+13%)
Valuation and fundamentals
Valuation & fundamentals
Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +2 (DCF counts double).
▲DCF (base case)above the price by 37%
•Forward P/E vs sector16.8x vs median 17.1x
•Piotroski F-score6/9
▲Altman Z3.6 (safe)
•Net debt / EBITDA1.5x
•Analyst target+13% (21 analysts)
Discounted cash flow
Bear
$448
-18%
growth 2% · disc. 10.2% · term. 2.0%
Base
$751
+37%
growth 7% · disc. 9.2% · term. 2.5%
Bull
$1,166
+112%
growth 10% · disc. 8.2% · term. 3.0%
A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price assumes free cash flow grows about 2% a year for 10 years.
Implied
+2%/yr
FCF, last 3 yrs
+3%/yr
FCF, last 5 yrs
+1%/yr
Revenue, last 3 yrs
+4%/yr
Revenue, last 5 yrs
+3%/yr
Same inputs as the DCF above: trailing free cash flow 9.5B, 9.2% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-28). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.10 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs Industrials
P/E (trailing)
cheaper
sector median 26.4× · 29th pct
20.2×cheaper
Forward P/E
cheaper
sector median 17.1× · 48th pct
16.8×cheaper
EV / EBITDA
cheaper
sector median 14.8× · 42nd pct
13.2×cheaper
Price / sales
cheaper
sector median 2.1× · 40th pct
1.6×cheaper
Price / book
pricier
sector median 3.5× · 93rd pct
14.4×pricier
FCF yield
cheaper
sector median 4.5% · 73rd pct
7.5%cheaper
Forward EPS $32.64 vs trailing $27.13 (+20% expected growth). Forward P/E uses analysts' next-12-month estimate.
Backlog (remaining performance obligations)
RPO
$230.4B
as of 2026-06-28
vs a year ago
+38%
YoY
× TTM revenue
2.99×
coverage
Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).
Quality & financial health
Gross margin
11.8%
Operating margin
11.9%
FCF margin
12.3%
Net margin
8.2%
Return on equity
71.7%
Return on invested capital
30.4%
Net debt / EBITDA
1.5×
Current ratio
1.2×
Interest cover
8.2×
Cash conversion (OCF/NI)
1.7×
Piotroski F-score 6/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✓ Gross margin improved✗ Asset turnover improved
Altman Z-score 3.6 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.
Analysts
Mean target
$619
+13%
Analysts
21
Buy
Range
$486–$756
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $75.0B | $5.0B | $8.6B |
| 2024 | $71.0B | $5.3B | $7.0B |
| 2023 | $67.6B | $6.9B | $7.9B |
| 2022 | $66.0B | $5.7B | $7.8B |
| 2021 | $67.0B | $6.3B | $9.2B |
| 2020 | $65.4B | $6.8B | $8.2B |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +4.4%.
Earnings
Next report: 2026-10-22 · before open · EPS est 7.52
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-07-23 | 7.20 | 7.94 | +10.3% |
| 2026-04-23 | 6.69 | 6.44 | -3.8% |
| 2026-01-29 | 5.75 | 5.80 | +0.9% |
| 2025-10-21 | 6.36 | 6.95 | +9.3% |
| 2025-07-22 | 6.42 | 1.46 | -77.3% |
| 2025-04-22 | 6.35 | 7.28 | +14.7% |
| 2025-01-28 | 6.60 | 2.22 | -66.4% |
| 2024-10-22 | 6.48 | 6.80 | +5.0% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $20.1B | +10.5% |
| 2026-03-31 | $18.0B | – |
| 2025-12-31 | $20.3B | – |
| 2025-09-30 | $18.6B | – |
| 2025-06-30 | $18.2B | – |
Analyst actions
RBC Capital
PT $550
2026-10-15 · main
Sector Perform → Sector PerformPT $550
Bernstein
PT $564
2026-10-14 · main
Market Perform → Market PerformPT $564
TD Cowen
PT $570
2026-10-09 · main
Hold → HoldPT $570
Barclays
PT $554
2026-10-09 · init
→ Equal-WeightPT $554
Rothschild & Co
PT $650
2026-10-06 · init
→ BuyPT $650
UBS
PT $674
2026-09-08 · up
Neutral → BuyPT $674
Recent dividends
2026-09-01: $3.450 · 2026-06-01: $3.450 · 2026-03-02: $3.450 · 2025-12-01: $3.450 · 2025-09-02: $3.300 · 2025-06-02: $3.300 · 2025-03-03: $3.300 · 2024-12-02: $3.300
Insider trades
Donovan John
$0
Director · 2026-08-13
SELL$0
Donovan John
$0
Director · 2026-08-13
SELL$0
Donovan John
$0
Director · 2026-08-13
SELL$0
Donovan John
$0
Director · 2026-08-13
SELL$0
Donovan John
$0
Director · 2026-08-13
SELL$0
Donovan John
$0
Director · 2026-08-13
SELL$0
Lightfoot Robert M Jr
$117.6K
President Space · 2026-08-12
SELL$117.6K
Lightfoot Robert M Jr
$0
President Space · 2026-08-11
SELL$0
Lightfoot Robert M Jr
$0
President Space · 2026-08-11
SELL$0
None
–
None · None
SELL–
None
–
None · None
SELL–
None
–
None · None
SELL–
Stats refreshed 2026-10-20 18:08:28 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
coteau
Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.