Lockheed Martin (LMT): financials, SEC filings and peers

Lockheed Martin (LMT) is an aerospace & defense company in the Industrials sector of the S&P 500, headquartered in Bethesda, Maryland.

It was founded in 1995 and joined the S&P 500 on March 4, 1957.

Its fiscal year ends in December, and its shares trade on the NYSE.

In its SEC filings it is classified as “Guided Missiles & Space Vehicles & Parts”.

Lockheed Martin at a glance

Revenue (12 months): $77.0B
Revenue growth: +7.2%
Operating margin: 11.9%
Net income (12 months): $6.3B
Free cash flow (12 months): $8.7B
Cash: $3.8B
Debt: $20.5B
Diluted EPS (12 months): $27.13

Twelve months to June 28, 2026, from the 10-Q filed July 23, 2026.

Latest twelve months

Over the twelve months to June 28, 2026, Lockheed Martin reported revenue of $77.0 billion, about the same as a year earlier (+7.2%).

Its operating margin was 11.9%, up 3.6 percentage points from a year earlier: for every $100 of sales, about $12 was left as operating profit.

Net income was $6.3 billion (8.2% of revenue), 49.5% higher than a year earlier.

Operating cash flow was $10.4 billion and capital spending $1.7 billion, leaving free cash flow of $8.7 billion (11.3% of revenue).

At the end of the period it held $3.8 billion in cash and $20.5 billion in debt, a net debt position of $16.7 billion.

The diluted share count fell 1.4% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $65.4 billion in fiscal 2020 to $75.0 billion in fiscal 2025, about 2.8% a year.
Revenue has grown for 3 fiscal years in a row.
Operating margin narrowed from 13.2% to 10.3% over the same years.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$67.0B	$66.0B	$67.6B	$71.0B	$75.0B
Revenue growth	2.5%	-1.6%	2.4%	5.1%	5.6%
Operating margin	13.6%	12.7%	12.6%	9.9%	10.3%
Net income	$6.3B	$5.7B	$6.9B	$5.3B	$5.0B
Free cash flow	$7.7B	$6.1B	$6.2B	$5.3B	$6.9B
Diluted EPS	$22.76	$21.66	$27.55	$22.31	$21.49

Fiscal years as reported in Lockheed Martin’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed August 28, 2026 — Material agreement
10-Q filed July 23, 2026 — quarterly report
8-K filed July 23, 2026 — Earnings results
8-K filed May 13, 2026 — Shareholder vote results
10-Q filed April 23, 2026 — quarterly report
8-K filed April 23, 2026 — Earnings results
10-K filed January 29, 2026 — annual report
8-K filed January 29, 2026 — Earnings results

All Lockheed Martin filings on SEC EDGAR

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Questions about Lockheed Martin

Is Lockheed Martin's revenue growing?

Yes. Revenue for the twelve months to June 28, 2026 was $77.0 billion, up 7.2% from a year earlier, according to its SEC filings.

Is Lockheed Martin profitable?

Yes. It earned $6.3 billion in net income over the twelve months to June 28, 2026, a net margin of 8.2%.

Does Lockheed Martin have more cash or more debt?

At June 28, 2026 it had $3.8 billion in cash and $20.5 billion in debt, so more debt than cash.

When did Lockheed Martin last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 23, 2026.

Which companies are similar to Lockheed Martin?

In the S&P 500, Lockheed Martin is grouped in Aerospace & Defense within the Industrials sector. Axon Enterprise (AXON), Boeing (BA), General Dynamics (GD), GE Aerospace (GE), Huntington Ingalls Industries (HII) are in the same group.

Understand the numbers

Source: Lockheed Martin’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.