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LMT

Lockheed Martin Corporation

US$505.50-0.74% (-US$3.75)
Day's range
US$503.68 – US$511.69
Day's volume
US$244.8m
52-week range
US$431.38 – US$668.17

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LMT in numbers

Market cap
US$116.5bn
P/E
18.56
P/B
13.31
Dividend yield (12m)
2.73%

The 12-month dividend yield of LMT is 2.73%, above its 5-year average of 2.68%.

LMT price history

02/10/202501/10/2026
Compare with

LMT risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+5.07%+20.04%+73.30%
Volatility (annualised)41.94%28.86%27.45%
Largest drawdown-22.05%-26.49%-26.49%
Positive months5/1217/3631/60

How much did investing in LMT return?

US$1,000.00 invested on 01/10/2021 would be worth US$1,738.81 today.

Value today in LMT
US$1,738.81
Return over the period
+73.88%
Return per year
+11.70%
In the S&P 500
US$1,664.67

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

LMT fundamentals

Valuation

  • P/E
    18.56
  • P/B
    13.31
  • EV/EBITDA
    —
  • EV/EBIT
    14.56
  • EV/Revenue
    1.73
  • P/EBIT
    12.73
  • P/S
    1.51
  • P/OCF
    11.20
  • P/FCF
    —
  • Earnings yield
    6.87%
  • PEG ratio
    —
  • Earnings per share
    US$27.24
  • Book value per share
    US$37.99

Debt

  • Net debt
    US$16.7bn
  • Net debt/EBITDA
    —
  • Net debt/Equity
    1.91
  • Debt/Equity
    2.34
  • Current ratio
    1.19
  • Quick ratio
    1.01
  • Cash ratio
    0.16

Efficiency

  • Gross margin
    11.80%
  • EBITDA margin
    —
  • Operating margin
    11.88%
  • Net margin
    8.16%
  • Asset turnover
    1.23

Profitability

  • ROE
    71.70%
  • ROA
    10.07%
  • ROIC
    30.39%
  • Payout
    50.66%

Growth

  • Revenue CAGR (5 years)
    2.88%
  • Earnings CAGR (5 years)
    -2.52%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is LMT's fair price?

Two classic value formulas, with today's numbers. The current price is US$505.50.

Graham's fair price
US$152.60
69.81% below the price

√(22.50 × US$27.24 × US$37.99)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$200.83
60.27% below the price

US$12.05 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

LMT indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E22.1821.4415.8321.6715.3314.5517.6214.66
P/B16.5618.0616.0213.408.8316.5335.1153.07
EV/EBITDA13.6815.4212.6314.0710.0011.2212.7910.35
Dividend yield2.76%2.62%2.68%2.34%2.98%2.76%2.31%3.13%
Earnings per shareUS$21.81US$22.67US$28.64US$22.45US$23.19US$24.39US$22.10US$17.86
Book value per shareUS$29.21US$26.90US$28.29US$36.29US$40.24US$21.47US$11.09US$4.93
ROE74.65%84.26%101.24%61.86%57.62%113.60%199.23%361.98%
ROIC26.95%24.94%31.81%32.17%40.10%48.12%51.53%41.36%
Gross margin10.15%9.75%12.55%12.56%13.52%13.23%13.99%13.53%
EBITDA margin12.55%12.07%14.71%14.78%15.64%14.78%15.80%15.80%
Net margin6.69%7.51%10.24%8.69%9.42%10.45%10.42%9.39%
Net debt/EBITDA1.872.081.611.330.770.931.181.64

LMT financial statements

Line202520242023202220212020
Net revenueUS$75bnUS$71bnUS$67.6bnUS$66bnUS$67bnUS$65.4bn
Cost of sales-US$67.4bn-US$64.1bn-US$59.1bn-US$57.7bn-US$58bn-US$56.7bn
Gross profitUS$7.6bnUS$6.9bnUS$8.5bnUS$8.3bnUS$9.1bnUS$8.7bn
EBITDAUS$9.4bnUS$8.6bnUS$9.9bnUS$9.8bnUS$10.5bnUS$9.7bn
EBITUS$7.7bnUS$7bnUS$8.5bnUS$8.3bnUS$9.1bnUS$8.6bn
Net finance result——————
Profit before taxUS$5.9bnUS$6.2bnUS$8.1bnUS$6.7bnUS$7.6bnUS$8.2bn
Income tax-US$905m-US$884m-US$1.2bn-US$948m-US$1.2bn-US$1.3bn
Net incomeUS$5bnUS$5.3bnUS$6.9bnUS$5.7bnUS$6.3bnUS$6.8bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does LMT pay dividends?

Dividend yield per year

  • 2.32%2017
  • 3.13%2018
  • 2.31%2019
  • 2.76%2020
  • 2.98%2021
  • 2.34%2022
  • 2.68%2023
  • 2.62%2024
  • 2.76%2025
  • 2.05%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend31/08/202625/09/2026US$3.45
Dividend29/05/202626/06/2026US$3.45
Dividend27/02/202627/03/2026US$3.45
Dividend28/11/202530/12/2025US$3.45
Dividend01/09/202526/09/2025US$3.30
Dividend30/05/202527/06/2025US$3.30
Dividend28/02/202528/03/2025US$3.30
Dividend29/11/202427/12/2024US$3.30
Dividend02/09/202427/09/2024US$3.15
Dividend31/05/202428/06/2024US$3.15
Dividend28/02/202429/03/2024US$3.15
Dividend29/11/202329/12/2023US$3.15
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend30/08/202322/09/2023US$3.00
Dividend30/05/202323/06/2023US$3.00
Dividend27/02/202324/03/2023US$3.00
Dividend29/11/202230/12/2022US$3.00
Dividend30/08/202223/09/2022US$2.80
Dividend30/05/202224/06/2022US$2.80
Dividend25/02/202225/03/2022US$2.80
Dividend29/11/202127/12/2021US$2.80
Dividend30/08/202124/09/2021US$2.60
Dividend27/05/202125/06/2021US$2.60
Dividend25/02/202126/03/2021US$2.60
Dividend27/11/202024/12/2020US$2.60
Dividend28/08/202025/09/2020US$2.40
Dividend28/05/202026/06/2020US$2.40
Dividend27/02/202027/03/2020US$2.40
Dividend28/11/201927/12/2019US$2.40
Dividend29/08/201927/09/2019US$2.20
Dividend30/05/201928/06/2019US$2.20
Dividend27/02/201929/03/2019US$2.20
Dividend29/11/201828/12/2018US$2.20
Dividend30/08/201828/09/2018US$2.00
Dividend30/05/201822/06/2018US$2.00
Dividend27/02/201823/03/2018US$2.00
Dividend29/11/201729/12/2017US$2.00
Dividend29/08/201722/09/2017US$1.82
Dividend29/05/201723/06/2017US$1.82
Dividend24/02/201724/03/2017US$1.82
Dividend28/11/201630/12/2016US$1.82

About Lockheed Martin

Sector
Manufacturing

Questions about LMT

How much is LMT today?

LMT is at US$505.50 (-0.74% on the day), last traded on 01/10/2026.

How much did LMT pay in dividends in 2025?

LMT paid US$13.35 per share in 2025, a dividend yield of 2.76%.

What are the P/E and P/B of LMT?

LMT trades at a P/E of 18.56 and a P/B of 13.31.

How much did LMT return in 12 months?

LMT returned 5.07% in 12 months, with annualised volatility of 41.94% and a largest drawdown of -22.05%.