L

LOCKHEED MARTIN CORPORATION

LMT · CIK 0000936468

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$75.05B5.6%
FY2025
Net income (FY)
$5.02B6.0%
FY2025
Free cash flow (FY)
$6.91B30.7%
FY2025
Diluted EPS (FY)
$21.493.7%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$50BFY2007 · Revenue $41.86B · Net income $3.03B · 0001193125-10-040520 · filed 2010-02-25FY07Revenue $41.86BNet income $3.03B0001193125-10-040520 · filed 2010-02-25FY2008 · Revenue $41.37B · Net income $3.22B · 0001193125-11-045739 · filed 2011-02-25FY08Revenue $41.37BNet income $3.22B0001193125-11-045739 · filed 2011-02-25FY2009 · Revenue $43.87B · Net income $2.97B · 0001193125-12-074929 · filed 2012-02-23FY09Revenue $43.87BNet income $2.97B0001193125-12-074929 · filed 2012-02-23FY2010 · Revenue $45.67B · Net income $2.88B · 0001193125-13-082873 · filed 2013-02-28FY10Revenue $45.67BNet income $2.88B0001193125-13-082873 · filed 2013-02-28FY2011 · Revenue $46.50B · Net income $2.65B · 0001193125-14-055034 · filed 2014-02-14FY11Revenue $46.50BNet income $2.65B0001193125-14-055034 · filed 2014-02-14FY2012 · Revenue $47.18B · Net income $2.75B · 0001193125-15-038681 · filed 2015-02-09FY12Revenue $47.18BNet income $2.75B0001193125-15-038681 · filed 2015-02-09FY2013 · Revenue $45.36B · Net income $2.98B · 0001193125-16-476010 · filed 2016-02-24FY13Revenue $45.36BNet income $2.98B0001193125-16-476010 · filed 2016-02-24FY2014 · Revenue $39.95B · Net income $3.61B · 0001193125-17-036192 · filed 2017-02-09FY14Revenue $39.95BNet income $3.61B0001193125-17-036192 · filed 2017-02-09FY2015 · Revenue $40.54B · Net income $3.60B · 0000936468-18-000009 · filed 2018-02-06FY15Revenue $40.54BNet income $3.60B0000936468-18-000009 · filed 2018-02-06FY2016 · Revenue $47.29B · Net income $5.17B · 0000936468-19-000009 · filed 2019-02-08FY16Revenue $47.29BNet income $5.17B0000936468-19-000009 · filed 2019-02-08FY2017 · Revenue $49.96B · Net income $1.96B · 0000936468-20-000016 · filed 2020-02-07FY17Revenue $49.96BNet income $1.96B0000936468-20-000016 · filed 2020-02-07FY2018 · Revenue $53.76B · Net income $5.05B · 0000936468-20-000016 · filed 2020-02-07 · 0000936468-21-000013 · filed 2021-01-28FY18Revenue $53.76BNet income $5.05B0000936468-20-000016 · filed 2020-02-07 · 0000936468-21-000013 · filed 2021-01-28FY2019 · Revenue $59.81B · Net income $6.23B · 0000936468-20-000016 · filed 2020-02-07 · 0000936468-22-000008 · filed 2022-01-25FY19Revenue $59.81BNet income $6.23B0000936468-20-000016 · filed 2020-02-07 · 0000936468-22-000008 · filed 2022-01-25FY2020 · Revenue $65.40B · Net income $6.83B · 0000936468-23-000009 · filed 2023-01-26FY20Revenue $65.40BNet income $6.83B0000936468-23-000009 · filed 2023-01-26FY2021 · Revenue $67.04B · Net income $6.32B · 0000936468-24-000010 · filed 2024-01-23FY21Revenue $67.04BNet income $6.32B0000936468-24-000010 · filed 2024-01-23FY2022 · Revenue $65.98B · Net income $5.73B · 0000936468-25-000009 · filed 2025-01-28FY22Revenue $65.98BNet income $5.73B0000936468-25-000009 · filed 2025-01-28FY2023 · Revenue $67.57B · Net income $6.92B · 0001628280-26-004195 · filed 2026-01-29FY23Revenue $67.57BNet income $6.92B0001628280-26-004195 · filed 2026-01-29FY2024 · Revenue $71.04B · Net income $5.34B · 0001628280-26-004195 · filed 2026-01-29FY24Revenue $71.04BNet income $5.34B0001628280-26-004195 · filed 2026-01-29FY2025 · Revenue $75.05B · Net income $5.02B · 0001628280-26-004195 · filed 2026-01-29FY25Revenue $75.05BNet income $5.02B0001628280-26-004195 · filed 2026-01-29FY25Revenue $75.05BNet income $5.02B0001628280-26-004195 · filed 2026-01-29FY07FY10FY13FY16FY19FY22FY25

revenue 1.8× since FY2007 · net margin 7.2% → 6.7%

MarginsNet marginFCF margin
0%5%10%FY2007 · Net margin 7.2% · FCF margin 7.9%FY07Net margin 7.2%FCF margin 7.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 7.8% · FCF margin 8.4%FY08Net margin 7.8%FCF margin 8.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 6.8% · FCF margin 6.0%FY09Net margin 6.8%FCF margin 6.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 6.3% · FCF margin 6.0%FY10Net margin 6.3%FCF margin 6.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 5.7% · FCF margin 7.0%FY11Net margin 5.7%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 5.8% · FCF margin 1.3%FY12Net margin 5.8%FCF margin 1.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 6.6% · FCF margin 8.2%FY13Net margin 6.6%FCF margin 8.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 9.0% · FCF margin 7.6%FY14Net margin 9.0%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 8.9% · FCF margin 10.3%FY15Net margin 8.9%FCF margin 10.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 10.9% · FCF margin 8.7%FY16Net margin 10.9%FCF margin 8.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 3.9% · FCF margin 10.6%FY17Net margin 3.9%FCF margin 10.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 9.4% · FCF margin 3.5%FY18Net margin 9.4%FCF margin 3.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 10.4% · FCF margin 9.7%FY19Net margin 10.4%FCF margin 9.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 10.4% · FCF margin 9.8%FY20Net margin 10.4%FCF margin 9.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 9.4% · FCF margin 11.5%FY21Net margin 9.4%FCF margin 11.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 8.7% · FCF margin 9.3%FY22Net margin 8.7%FCF margin 9.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 10.2% · FCF margin 9.2%FY23Net margin 10.2%FCF margin 9.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 7.5% · FCF margin 7.4%FY24Net margin 7.5%FCF margin 7.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 6.7% · FCF margin 9.2%FY25Net margin 6.7%FCF margin 9.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 6.7%FCF margin 9.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 6.7% · free cash flow 9.2% of revenue

Cash engineOperating cash flowFree cash flow
$0$5BFY2007 · OCF $4.24B · FCF $3.30B · 0001193125-10-040520 · filed 2010-02-25FY07OCF $4.24BFCF $3.30B0001193125-10-040520 · filed 2010-02-25FY2008 · OCF $4.42B · FCF $3.50B · 0001193125-11-045739 · filed 2011-02-25FY08OCF $4.42BFCF $3.50B0001193125-11-045739 · filed 2011-02-25FY2009 · OCF $3.49B · FCF $2.63B · 0001193125-12-074929 · filed 2012-02-23FY09OCF $3.49BFCF $2.63B0001193125-12-074929 · filed 2012-02-23FY2010 · OCF $3.80B · FCF $2.73B · 0001193125-13-082873 · filed 2013-02-28FY10OCF $3.80BFCF $2.73B0001193125-13-082873 · filed 2013-02-28FY2011 · OCF $4.25B · FCF $3.27B · 0001193125-14-055034 · filed 2014-02-14FY11OCF $4.25BFCF $3.27B0001193125-14-055034 · filed 2014-02-14FY2012 · OCF $1.56B · FCF $619.0M · 0001193125-15-038681 · filed 2015-02-09FY12OCF $1.56BFCF $619.0M0001193125-15-038681 · filed 2015-02-09FY2013 · OCF $4.55B · FCF $3.71B · 0001193125-16-476010 · filed 2016-02-24FY13OCF $4.55BFCF $3.71B0001193125-16-476010 · filed 2016-02-24FY2014 · OCF $3.87B · FCF $3.02B · 0001193125-17-036192 · filed 2017-02-09FY14OCF $3.87BFCF $3.02B0001193125-17-036192 · filed 2017-02-09FY2015 · OCF $5.10B · FCF $4.16B · 0000936468-18-000009 · filed 2018-02-06FY15OCF $5.10BFCF $4.16B0000936468-18-000009 · filed 2018-02-06FY2016 · OCF $5.19B · FCF $4.13B · 0000936468-19-000009 · filed 2019-02-08FY16OCF $5.19BFCF $4.13B0000936468-19-000009 · filed 2019-02-08FY2017 · OCF $6.48B · FCF $5.30B · 0000936468-20-000016 · filed 2020-02-07FY17OCF $6.48BFCF $5.30B0000936468-20-000016 · filed 2020-02-07FY2018 · OCF $3.14B · FCF $1.86B · 0000936468-21-000013 · filed 2021-01-28FY18OCF $3.14BFCF $1.86B0000936468-21-000013 · filed 2021-01-28FY2019 · OCF $7.31B · FCF $5.83B · 0000936468-22-000008 · filed 2022-01-25FY19OCF $7.31BFCF $5.83B0000936468-22-000008 · filed 2022-01-25FY2020 · OCF $8.18B · FCF $6.42B · 0000936468-23-000009 · filed 2023-01-26FY20OCF $8.18BFCF $6.42B0000936468-23-000009 · filed 2023-01-26FY2021 · OCF $9.22B · FCF $7.70B · 0000936468-24-000010 · filed 2024-01-23FY21OCF $9.22BFCF $7.70B0000936468-24-000010 · filed 2024-01-23FY2022 · OCF $7.80B · FCF $6.13B · 0000936468-25-000009 · filed 2025-01-28FY22OCF $7.80BFCF $6.13B0000936468-25-000009 · filed 2025-01-28FY2023 · OCF $7.92B · FCF $6.23B · 0001628280-26-004195 · filed 2026-01-29FY23OCF $7.92BFCF $6.23B0001628280-26-004195 · filed 2026-01-29FY2024 · OCF $6.97B · FCF $5.29B · 0001628280-26-004195 · filed 2026-01-29FY24OCF $6.97BFCF $5.29B0001628280-26-004195 · filed 2026-01-29FY2025 · OCF $8.56B · FCF $6.91B · 0001628280-26-004195 · filed 2026-01-29FY25OCF $8.56BFCF $6.91B0001628280-26-004195 · filed 2026-01-29FY25OCF $8.56BFCF $6.91B0001628280-26-004195 · filed 2026-01-29’09’13’17’21’25

FY2025: $8.56B operating cash − $1.65B capex = $6.91B free cash flow

Returns on capitalReturn on equityReturn on assets
0%5000%FY2008 · ROE 112.3% · ROA 9.6%FY08ROE 112.3%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 72.0% · ROA 8.5%FY09ROE 72.0%ROA 8.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 82.3% · ROA 8.2%FY10ROE 82.3%ROA 8.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 265.2% · ROA 7.0%FY11ROE 265.2%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 7038.5% · ROA 7.1%FY12ROE 7038.5%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 60.6% · ROA 8.2%FY13ROE 60.6%ROA 8.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 106.3% · ROA 9.8%FY14ROE 106.3%ROA 9.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 116.4% · ROA 7.3%FY15ROE 116.4%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 342.4% · ROA 10.8%FY16ROE 342.4%ROA 10.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE -230.9% · ROA 4.2%FY17ROE -230.9%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 362.0% · ROA 11.2%FY18ROE 362.0%ROA 11.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 199.2% · ROA 13.1%FY19ROE 199.2%ROA 13.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 113.6% · ROA 13.5%FY20ROE 113.6%ROA 13.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 57.6% · ROA 12.4%FY21ROE 57.6%ROA 12.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 61.9% · ROA 10.8%FY22ROE 61.9%ROA 10.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 101.2% · ROA 13.2%FY23ROE 101.2%ROA 13.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 84.3% · ROA 9.6%FY24ROE 84.3%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 74.6% · ROA 8.4%FY25ROE 74.6%ROA 8.4%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 74.6%ROA 8.4%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 112% (FY2008) → 75% (FY2025) · on assets 8.4%

Balance sheetLiabilitiesEquity
$0$20B$40B$60BFY2008 · Liabilities $30.57B · Equity $2.87BFY08Liabilities $30.57BEquity $2.87B0001193125-10-040520 · filed 2010-02-25FY2009 · Liabilities $30.98B · Equity $4.13BFY09Liabilities $30.98BEquity $4.13B0001193125-11-045739 · filed 2011-02-25FY2010 · Liabilities $31.62B · Equity $3.50BFY10Liabilities $31.62BEquity $3.50B0001193125-12-074929 · filed 2012-02-23FY2011 · Liabilities $36.91B · Equity $1.00BFY11Liabilities $36.91BEquity $1.00B0001193125-13-082873 · filed 2013-02-28FY2012 · Liabilities $38.62B · Equity $39.0MFY12Liabilities $38.62BEquity $39.0M0001193125-14-055034 · filed 2014-02-14FY2013 · Liabilities $31.27B · Equity $4.92BFY13Liabilities $31.27BEquity $4.92B0001193125-15-038681 · filed 2015-02-09FY2014 · Liabilities $33.65B · Equity $3.40BFY14Liabilities $33.65BEquity $3.40B0001193125-16-476010 · filed 2016-02-24FY2015 · Liabilities $46.21B · Equity $3.10BFY15Liabilities $46.21BEquity $3.10B0001193125-17-036192 · filed 2017-02-09FY2016 · Liabilities $46.20B · Equity $1.51BFY16Liabilities $46.20BEquity $1.51B0000936468-18-000009 · filed 2018-02-06FY2017 · Liabilities $47.40B · Equity −$850.0MFY17Liabilities $47.40BEquity −$850.0M0000936468-19-000009 · filed 2019-02-08FY2018 · Liabilities $43.43B · Equity $1.39BFY18Liabilities $43.43BEquity $1.39B0000936468-20-000016 · filed 2020-02-07FY2019 · Liabilities $44.36B · Equity $3.13BFY19Liabilities $44.36BEquity $3.13B0000936468-21-000013 · filed 2021-01-28FY2020 · Liabilities $44.67B · Equity $6.01BFY20Liabilities $44.67BEquity $6.01B0000936468-22-000008 · filed 2022-01-25FY2021 · Liabilities $39.91B · Equity $10.96BFY21Liabilities $39.91BEquity $10.96B0000936468-23-000009 · filed 2023-01-26FY2022 · Liabilities $43.61B · Equity $9.27BFY22Liabilities $43.61BEquity $9.27B0000936468-24-000010 · filed 2024-01-23FY2023 · Liabilities $45.62B · Equity $6.83BFY23Liabilities $45.62BEquity $6.83B0000936468-25-000009 · filed 2025-01-28FY2024 · Liabilities $49.28B · Equity $6.33BFY24Liabilities $49.28BEquity $6.33B0001628280-26-004195 · filed 2026-01-29FY2025 · Liabilities $53.12B · Equity $6.72BFY25Liabilities $53.12BEquity $6.72B0001628280-26-004195 · filed 2026-01-29FY25Liabilities $53.12BEquity $6.72B0001628280-26-004195 · filed 2026-01-29’09’13’17’21’25

FY2025: $59.84B assets · $53.12B liabilities · $6.72B equity

The receipts