Lockheed Martin Corporation
Financial Performance
Lockheed Martin Revenue & Financials
Revenue
$75B (FY2025)
Market Cap
$120.5B
Net Income
$5B
Employees
123,000
What is Lockheed Martin's revenue?
Lockheed Martin had $75B in revenue for fiscal year 2025, up 5.6% from 2024. Net income was $5B.
- Latest revenue
- $75B (FY2025)
- Year-over-year
- +5.6%
- Growth rate (CAGR)
- 5.3% over 9 years
- Peak revenue
- $75B (FY2025)
- Years of data
- 10
- Employees
- 123,000
- What is Lockheed Martin's operating income?
- Lockheed Martin reported operating income of $7.7B for fiscal year 2025. sec.gov
- How much profit does Lockheed Martin make?
- Lockheed Martin reported net income of $5B for fiscal year 2025. sec.gov
- How many employees does Lockheed Martin have?
- Lockheed Martin has about 123,000 employees.
Financial Analysis
Lockheed Martin's net sales grew from $65.4 billion in 2020 to $71.0 billion in 2024 and $75.0 billion in 2025. Profitability was weaker: 2025 net earnings were $5.0 billion ($21.49 per diluted share), down from $5.3 billion in 2024 and $6.9 billion in 2023, mainly because of program loss charges. Free cash flow was $6.9 billion in 2025. Results rebounded in 2026: second-quarter sales rose 11% to $20.1 billion, net earnings reached $1.8 billion ($7.94 per share), and free cash flow was $2.9 billion. On July 23, 2026 management raised full-year guidance to $79.75-$81.75 billion of sales, $29.95-$30.65 of diluted EPS, and $7.0-$7.2 billion of free cash flow. The company returns most of its free cash flow through dividends and buybacks. Lockheed Martin Corporation is the world's largest defense contractor by revenue, sustaining a powerful market valuation often surpassing $110 billion.
Revenue Trend Analysis
YoY Change
+5.6%
9-Year CAGR
+5.3%
Peak Year
2025
Trend
Consistent Growth
Lockheed Martin Corporation has 10 full fiscal year figures on this page, compounding at +5.3% annually over 9 years. The most recent year saw a 5.6% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $75B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
Lockheed Martin Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $8.6B | $59.8B | $53.1B | $6.7B | Form 10-K |
| FY2024ended Dec 31, 2024 | $7B | $55.6B | $49.3B | $6.3B | Form 10-K |
| FY2023ended Dec 31, 2023 | $7.9B | $52.5B | $45.6B | $6.8B | Form 10-K |
| FY2022ended Dec 31, 2022 | $7.8B | $52.9B | $43.6B | $9.3B | Form 10-K |
| FY2021ended Dec 31, 2021 | $9.2B | $50.9B | $39.9B | $11B | Form 10-K |
| FY2020ended Dec 31, 2020 | $8.2B | $50.7B | $44.7B | $6B | Form 10-K |
| FY2019ended Dec 31, 2019 | $7.3B | $47.5B | $44.4B | $3.1B | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.1B | $44.9B | $43.4B | $1.4B | Form 10-K |
| FY2017ended Dec 31, 2017 | $6.5B | $46.6B | $47.4B | -$850M | Form 10-K |
| FY2016ended Dec 31, 2016 | $5.2B | $47.8B | $46.2B | $1.5B | Form 10-K |
Keep researching Lockheed Martin
Lockheed Martin Revenue and Financial FAQ
What is Lockheed Martin's annual net sales revenue and historical financial scale?
Lockheed Martin Corporation reported revenue of $75.0 billion for fiscal year 2025, up from $71.0 billion in fiscal 2024.
What is Lockheed Martin's annual GAAP net income and operating profit?
Lockheed Martin delivers annual operating profits between $8.5 billion and $9.0 billion (an operating margin of approximately 12.5% to 13.0%) and generates annual GAAP net income between $6.5 billion and $7.0 billion, with diluted EPS exceeding $27.00.
What is Lockheed Martin's dividend growth track record and S&P 500 Dividend status?
Lockheed Martin is a premier dividend growth stock, paying an annualized cash dividend of over $12.60 per share (yielding approx. 2.5% to 3.0%), having increased its quarterly cash dividend for over 21 consecutive years, distributing over $3.0 billion annually to shareholders.
What is Lockheed Martin's common share repurchase track record?
Lockheed Martin aggressively repurchases its stock, returning $3.0 billion to $4.0 billion annually through board-authorized share buybacks, reducing diluted shares outstanding and compounding per-share free cash flow.
What is Lockheed Martin's balance sheet leverage and credit rating profile?
Lockheed Martin maintains a high-quality investment-grade credit rating (A3 from Moody's / A- from S&P), managing a conservative net debt to EBITDA leverage ratio typically under 1.8x, with predictable long-term fixed-rate debt maturities.
What is the revenue contribution of Lockheed Martin's four business segments?
Aeronautics represents the largest segment (approx. 40% of sales), followed by Rotary and Mission Systems (24%), Space (18%), and Missiles and Fire Control (18%), providing balanced aerospace, naval, and land defense diversification.
What are Lockheed Martin's annual capital expenditures and independent R&D (IRAD) investments?
Lockheed Martin invests approximately $1.5 billion to $1.8 billion annually in company-funded Independent Research & Development (IRAD) focused on hypersonic flight, AI autonomous swarms, and quantum sensing, alongside $1.5B in operating capital expenditures.
How does global geopolitical conflict impact Lockheed Martin's order intake?
Rising global security threats (the war in Ukraine, Middle East tensions, Indo-Pacific deterrence) have surged international demand for Lockheed weapons systems, driving multi-billion-dollar replenishment contracts for HIMARS, Patriot PAC-3, and F-35 fighters.
Is Lockheed Martin financially successful?
They are essentially recession-proof. Because geopolitical conflicts constantly escalate, the US Defense Budget continuously rises. Lockheed's financial crown jewel is the F-35 program. It is the absolute largest military contract in human history, projected to cost the US government over $1.7 trillion over its 50-year lifespan, guaranteeing Lockheed Martin massive, highly predictable revenue decades into the future.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Lockheed Martin Revenue & Financials." CorpDigest, https://corpdigest.com/company/lockheed-martin/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Lockheed Martin reported $75B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/lockheed-martin/financials" target="_blank" rel="noopener">CorpDigest — Lockheed Martin financials</a></div>Related Financial Audits
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