Lockheed Martin Corporation Revenue in 2024

Lockheed Martin Corporation reported $71.0B in revenue for fiscal year 2024. This represents a growth of 5.1% compared to the 2023 figure of $67.6B.

Today, Lockheed Martin stands as the largest defense contractor on the planet by annual revenue, reporting $71.0 billion in net sales for fiscal year 2024 — a figure that exceeds the entire gross domestic product of more than 100 sovereign nations. The company's flagship product, the F-35 Lightning II multirole stealth fighter, is simultaneously the most capable tactical aircraft ever produced and the most expensive weapons system in recorded history, with a program lifecycle cost that the Pentagon now estimates at approximately $1.76 trillion. Lockheed Martin Corporation is the world's largest defense contractor, reporting $71.0 billion in revenues for FY2024 and employing approximately 122,000 people globally. The company's most prominent program, the F-35 Lightning II stealth fighter, represents the most expensive weapons system in history at an estimated $1.76 trillion lifecycle cost. The company returned approximately $6 billion to shareholders in 2024 through dividends and share repurchases, maintaining a consistent capital return framework even while investing in next-generation programs. The Aeronautics segment is the company's largest, generating approximately $28.2 billion in net sales in FY2024, representing roughly 40 percent of total company revenue. The Missiles and Fire Control segment generated approximately $12.0 billion in net sales in FY2024, making it the second-largest segment by revenue and arguably the one with the most favorable near-term growth dynamics. The Rotary and Mission Systems segment reported approximately $16.0 billion in net sales for FY2024. The Space segment generated approximately $13.7 billion in net sales in FY2024, encompassing satellites, strategic missiles, and space exploration systems. Lockheed Martin Corporation is a Aerospace & Defense company with $71.0B in 2024 revenue and 122K employees worldwide. Boeing took a $2.5 billion pre-tax charge on the GBSD program alone in 2023, a level of financial distress that has shifted the Pentagon's perception of Boeing's program management reliability. Lockheed Martin reported net sales of $71.0 billion for fiscal year 2024, representing a 5.3 percent increase from $67.6 billion in fiscal year 2023 and continuing a multi-year trajectory of steady revenue growth driven by elevated defense budgets and program execution across all four segments. Operating profit for FY2024 was approximately $7.8 billion, while net earnings attributable to the corporation were approximately $5.3 billion, reflecting elevated interest expense on the company's debt load and some discrete charges on classified programs within the Space segment. Diluted earnings per share for FY2024 came in at approximately $22.28, a figure that reflects both underlying earnings and an active share repurchase program that has reduced the diluted share count meaningfully over recent years. In FY2024, Lockheed Martin returned approximately $6.0 billion to shareholders through a combination of cash dividends — the quarterly dividend was raised to $3.15 per share in September 2024, representing the company's 22nd consecutive annual dividend increase — and share repurchases under an active buyback authorization. Free cash flow for FY2024 was approximately $6.2 billion, demonstrating the company's ability to convert contract revenues into actual cash despite the capital intensity of major program execution. The company's backlog — the contractual measure of future revenues under existing contracts — stood at approximately $176 billion at the end of FY2024, representing roughly 2.5 years of forward revenue coverage and providing extraordinary visibility into future financial performance. Long-term debt stood at approximately $19.8 billion at year-end 2024, a level that ratings agencies and analysts consider manageable given the consistency and predictability of the company's government contract cash flows. In FY2024, charges on classified programs in the Space segment contributed to margin compression, a pattern that has recurred across multiple fiscal years and creates unpredictability in financial results that frustrates investors who might otherwise view the company's long-term contract backlog — which stood at approximately $176 billion at year-end 2024 — as a guarantee of earnings stability. Within the United States, the defense budget request for FY2026 totaled approximately $895 billion, with substantial allocations for F-35 production, missile replenishment, and next-generation system development — all directly benefiting Lockheed Martin's program portfolio. The modern Lockheed Martin came into existence on March 15, 1995, when Lockheed Corporation and Martin Marietta completed a merger valued at approximately $10 billion, creating a company with combined revenues of about $23 billion and approximately 170,000 employees.