US · USD

LMT

Lockheed Martin Corporation

$505.49-0.74% (-$3.76)Updated 10/1/26, 4:59 PM

Day's range: $503.68 – $511.69
Day's volume: $244.8M
52-week range: $431.38 – $668.17

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LMT in numbers

Market cap: $116.5B

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

10/02/202510/01/2026

Compare with

LMT risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+5.07%	+20.04%	+73.30%
Volatility (annualized)	41.94%	28.86%	27.45%
Largest drawdown	-22.05%	-26.49%	-26.49%
Positive months	5/12	17/36	31/60

How much did investing in LMT return?

Amount invested

$1,000.00 invested on 10/01/2021 would be worth $1,738.78 today.

Value today in LMT: $1,738.78

Return over the period: +73.88%

Return per year: +11.70%

In the S&P 500: $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
$27.24
Book value per share
$37.99

Debt

Net debt
$16.7B
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 $505.49.

Graham's fair price: $152.60; 69.81% below the price

√(22.50 × $27.24 × $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: $200.83; 60.27% below the price

$12.05 (5-year average) ÷ 6%

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

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

LMT's indicators by year

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

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	22.18	21.44	15.83	21.67	15.33	14.55	17.62	14.66
P/B	16.56	18.06	16.02	13.40	8.83	16.53	35.11	53.07
EV/EBITDA	13.68	15.42	12.63	14.07	10.00	11.22	12.79	10.35
Dividend yield	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%
Earnings per share	$21.81	$22.67	$28.64	$22.45	$23.19	$24.39	$22.10	$17.86
Book value per share	$29.21	$26.90	$28.29	$36.29	$40.24	$21.47	$11.09	$4.93
ROE	74.65%	84.26%	101.24%	61.86%	57.62%	113.60%	199.23%	361.98%
ROIC	26.95%	24.94%	31.81%	32.17%	40.10%	48.12%	51.53%	41.36%
Gross margin	10.15%	9.75%	12.55%	12.56%	13.52%	13.23%	13.99%	13.53%
EBITDA margin	12.55%	12.07%	14.71%	14.78%	15.64%	14.78%	15.80%	15.80%
Net margin	6.69%	7.51%	10.24%	8.69%	9.42%	10.45%	10.42%	9.39%
Net debt/EBITDA	1.87	2.08	1.61	1.33	0.77	0.93	1.18	1.64

LMT's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$75B	$71B	$67.6B	$66B	$67B	$65.4B
Cost of revenue	-$67.4B	-$64.1B	-$59.1B	-$57.7B	-$58B	-$56.7B
Gross profit	$7.6B	$6.9B	$8.5B	$8.3B	$9.1B	$8.7B
EBITDA	$9.4B	$8.6B	$9.9B	$9.8B	$10.5B	$9.7B
EBIT	$7.7B	$7B	$8.5B	$8.3B	$9.1B	$8.6B
Financial result	—	—	—	—	—	—
Income before tax	$5.9B	$6.2B	$8.1B	$6.7B	$7.6B	$8.2B
Income tax	-$905M	-$884M	-$1.2B	-$948M	-$1.2B	-$1.3B
Net income	$5B	$5.3B	$6.9B	$5.7B	$6.3B	$6.8B

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
Type	Last day to own	Payment	Per share
Dividend	08/31/2026	09/25/2026	$3.45
Dividend	05/29/2026	06/26/2026	$3.45
Dividend	02/27/2026	03/27/2026	$3.45
Dividend	11/28/2025	12/30/2025	$3.45
Dividend	09/01/2025	09/26/2025	$3.30
Dividend	05/30/2025	06/27/2025	$3.30
Dividend	02/28/2025	03/28/2025	$3.30
Dividend	11/29/2024	12/27/2024	$3.30
Dividend	09/02/2024	09/27/2024	$3.15
Dividend	05/31/2024	06/28/2024	$3.15
Dividend	02/28/2024	03/29/2024	$3.15
Dividend	11/29/2023	12/29/2023	$3.15

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/30/2023	09/22/2023	$3.00
Dividend	05/30/2023	06/23/2023	$3.00
Dividend	02/27/2023	03/24/2023	$3.00
Dividend	11/29/2022	12/30/2022	$3.00
Dividend	08/30/2022	09/23/2022	$2.80
Dividend	05/30/2022	06/24/2022	$2.80
Dividend	02/25/2022	03/25/2022	$2.80
Dividend	11/29/2021	12/27/2021	$2.80
Dividend	08/30/2021	09/24/2021	$2.60
Dividend	05/27/2021	06/25/2021	$2.60
Dividend	02/25/2021	03/26/2021	$2.60
Dividend	11/27/2020	12/24/2020	$2.60
Dividend	08/28/2020	09/25/2020	$2.40
Dividend	05/28/2020	06/26/2020	$2.40
Dividend	02/27/2020	03/27/2020	$2.40
Dividend	11/28/2019	12/27/2019	$2.40
Dividend	08/29/2019	09/27/2019	$2.20
Dividend	05/30/2019	06/28/2019	$2.20
Dividend	02/27/2019	03/29/2019	$2.20
Dividend	11/29/2018	12/28/2018	$2.20
Dividend	08/30/2018	09/28/2018	$2.00
Dividend	05/30/2018	06/22/2018	$2.00
Dividend	02/27/2018	03/23/2018	$2.00
Dividend	11/29/2017	12/29/2017	$2.00
Dividend	08/29/2017	09/22/2017	$1.82
Dividend	05/29/2017	06/23/2017	$1.82
Dividend	02/24/2017	03/24/2017	$1.82
Dividend	11/28/2016	12/30/2016	$1.82

About Lockheed Martin

Sector: Manufacturing

Questions about LMT

How much is LMT today?

LMT is at $505.49 (-0.74% on the day), last traded on 10/01/2026.

How much did LMT pay in dividends in 2025?

LMT paid $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 annualized volatility of 41.94% and a largest drawdown of -22.05%.