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Lockheed Martin Corporation (LMT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Aerospace & Defense · DATA UPDATED 2026-07-13

Lockheed Martin Corporation (LMT) operates in the Aerospace & Defense industry and is headquartered in Bethesda, United States with about 123,000 employees. Its market capitalization is roughly $134 billion. In the fiscal year ended 2025-12-31, LMT reported $75.1B in revenue and $5.0B in net income.

Lockheed Martin Corporation, an aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services in the United States, Europe, Asia, the Middle East, and internationally.

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LMT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$75.1B	$75.1B	$71.0B	$67.6B	$66.0B	$67.0B	$65.4B	$59.8B	$53.8B	$50.0B	$47.3B	$40.5B	$39.9B	$45.4B	$47.2B	$46.5B	$45.8B	$45.2B	$42.7B	$41.9B	$39.6B
Gross Profit	$7.4B	$7.6B	$6.9B	$8.5B	$8.3B	$9.1B	$8.7B	$8.4B	$7.4B	$6.4B	$5.4B	$4.5B	$4.7B	$4.6B	$4.2B	$3.7B	$3.8B	$4.2B	$4.6B	$4.2B	$3.4B
Gross Margin %	9.8%	10.2%	9.8%	12.6%	12.6%	13.5%	13.2%	14.0%	13.7%	12.8%	11.4%	11.1%	11.7%	10.1%	9.0%	8.0%	8.4%	9.3%	10.9%	10.1%	8.7%
Operating Income (EBIT)	$7.4B	$7.7B	$7.0B	$8.5B	$8.3B	$9.1B	$8.6B	$8.5B	$7.3B	$6.7B	$5.9B	$4.7B	$5.6B	$4.5B	$4.4B	$4.0B	$4.1B	$4.5B	$5.1B	$4.5B	$4.0B
Operating Margin %	9.9%	10.3%	9.9%	12.6%	12.7%	13.6%	13.2%	14.3%	13.6%	13.5%	12.4%	11.6%	14.0%	9.9%	9.4%	8.6%	8.9%	9.9%	12.0%	10.8%	10.0%
Net Income	$4.8B	$5.0B	$5.3B	$6.9B	$5.7B	$6.3B	$6.8B	$6.2B	$5.0B	$2.0B	$5.3B	$3.6B	$3.6B	$3.0B	$2.7B	$2.7B	$2.9B	$3.0B	$3.2B	$3.0B	$2.5B
Net Margin %	6.4%	6.7%	7.5%	10.2%	8.7%	9.4%	10.4%	10.4%	9.4%	4.0%	11.2%	8.9%	9.0%	6.6%	5.8%	5.7%	6.4%	6.7%	7.5%	7.2%	6.4%
EBITDA	$8.5B	$7.8B	$8.8B	$8.5B	$8.7B	$9.5B	$10.1B	$9.1B	$7.7B	$7.1B	$6.6B	$5.8B	$6.0B	$5.5B	$5.4B	$5.0B	$5.2B	$5.3B	$5.9B	$5.5B	$4.2B
Earnings Per Share (EPS)	$20.65	$21.63	$22.31	$27.55	$21.66	$22.76	$24.30	$21.95	$17.59	$6.89	$17.49	$11.46	$11.21	$9.13	$8.36	$7.81	$7.94	$7.78	$7.86	$7.10	$5.80
Shares Outstanding (M)	231M	232M	239M	251M	265M	277M	281M	284M	287M	291M	303M	315M	322M	326M	328M	340M	368M	389M	409M	427M	436M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LMT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$18.0B	$20.3B	$18.6B	$18.2B	$18.0B	$18.6B	$17.1B	$18.1B
Gross Profit	$2.1B	$2.3B	$2.2B	$734M	$2.3B	$690M	$2.1B	$2.2B
Gross Margin %	11.5%	11.4%	12.0%	4.0%	12.9%	3.7%	12.4%	12.2%
Operating Income (EBIT)	$2.1B	$2.3B	$2.3B	$748M	$2.4B	$696M	$2.1B	$2.1B
Operating Margin %	11.5%	11.5%	12.2%	4.1%	13.2%	3.7%	12.5%	11.8%
Net Income	$1.5B	$1.3B	$1.6B	$342M	$1.7B	$527M	$1.6B	$1.6B
Net Margin %	8.3%	6.6%	8.7%	1.9%	9.5%	2.8%	9.5%	9.1%
EBITDA	$2.4B	$2.3B	$2.7B	$1.1B	$2.7B	$1.2B	$2.6B	$2.6B
Earnings Per Share (EPS)	$6.44	$5.80	$6.95	$1.46	$7.28	$2.22	$6.80	$6.85
Shares Outstanding (M)	231M	232M	233M	234M	235M	237M	239M	240M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LMT Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$7.4B	$8.6B	$7.0B	$7.9B	$7.8B	$9.2B	$8.2B	$7.3B	$3.1B	$6.5B	$5.2B	$5.1B	$3.9B	$4.5B	$1.6B	$4.3B	$3.5B	$3.2B	$4.4B	$4.2B	$3.8B
Capital Expenditures (CapEx)	$1.7B	$1.6B	$1.7B	$1.7B	$1.7B	$1.5B	$1.8B	$1.5B	$1.3B	$1.2B	$1.1B	$939M	$845M	$836M	$942M	$987M	$820M	$852M	$926M	$940M	$893M
Free Cash Flow (FCF)	$5.7B	$6.9B	$5.3B	$6.2B	$6.1B	$7.7B	$6.4B	$5.8B	$1.9B	$5.3B	$4.1B	$4.2B	$3.0B	$3.7B	$619M	$3.3B	$2.7B	$2.3B	$3.5B	$3.3B	$2.9B
FCF Margin %	7.5%	9.2%	7.4%	9.2%	9.3%	11.5%	9.8%	9.7%	3.5%	10.6%	8.7%	10.3%	7.6%	8.2%	1.3%	7.0%	5.9%	5.1%	8.2%	7.9%	7.3%
Dividends Paid	$3.2B	$3.1B	$3.1B	$3.1B	$3.0B	$2.9B	$2.8B	$2.6B	$2.3B	$2.2B	$2.0B	$1.9B	$1.8B	$1.5B	$1.4B	$1.1B	$969M	$908M	$737M	$615M	$538M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LMT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$220M	$3.2B	$3.7B	$201M	$1.4B	$1.0B	$2.4B	$1.9B
Capital Expenditures (CapEx)	$511M	$463M	$381M	$351M	$454M	$582M	$355M	$370M
Free Cash Flow (FCF)	($291M)	$2.8B	$3.3B	($150M)	$955M	$441M	$2.1B	$1.5B
FCF Margin %	-1.6%	13.6%	18.0%	-0.8%	5.3%	2.4%	12.2%	8.3%
Dividends Paid	$816M	$799M	$765M	$771M	$796M	$778M	$749M	$752M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LMT Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$59.2B	$59.8B	$55.6B	$52.5B	$52.9B	$50.9B	$50.7B	$47.5B	$44.9B	$46.5B	$47.8B	$49.1B	$37.1B	$36.2B	$38.7B	$37.9B	$35.1B	$35.1B	$33.4B	$28.9B	$28.2B
Cash & Cash Equivalents	$1.9B	$4.1B	$2.5B	$1.4B	$2.5B	$3.6B	$3.2B	$1.5B	$772M	$2.9B	$1.8B	$1.1B	$1.4B	$2.6B	$1.9B	$3.6B	$2.3B	$2.4B	$2.2B	$2.6B	$1.9B
Total Liabilities	$51.7B	$53.1B	$49.3B	$45.6B	$43.6B	$39.9B	$44.7B	$44.4B	$43.4B	$47.1B	$46.2B	$46.0B	$33.7B	$31.3B	$38.6B	$36.9B	$31.4B	$31.0B	$30.6B	$19.1B	$21.3B
Total Debt (Short + Long-Term)	$20.7B	$21.7B	$20.3B	$17.5B	$15.5B	$11.7B	$12.2B	$12.7B	$14.1B	$14.3B	$16.0B	$15.3B	$8.0B	$8.0B	$6.3B	$8.1B	$6.9B	$5.1B	$3.8B	$2.8B	$4.4B
Total Shareholders' Equity	$7.5B	$6.7B	$6.3B	$6.8B	$9.3B	$11.0B	$6.0B	$3.1B	$1.4B	($683M)	$1.6B	$3.1B	$3.4B	$4.9B	$39M	$1.0B	$3.7B	$4.1B	$2.9B	$9.8B	$6.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive LMT viewer.

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