LMT·Aerospace & Defense (defense prime; military space, missiles, combat aircraft, rotary-wing)

Lockheed Martin

ConvictionModerate

Long-cycle government contractor: ~73% US Government / DoD-heavy, plus ~27% international FMS and civil (NASA). Mix of cost-plus and fixed-price development/production contracts booked against a multi-year backlog and recognized over time; capital returned via a growing dividend plus buybacks.

Revenuefact

$75.0B FY2025fact, FY25 10-K); $18.0B Q1 FY26

Rev growthfact

+6% YoY FY2025+0.3% YoY Q1 FY26 (fact

Gross marginfact

Not separately disclosedconsolidated operating margin ~6.7% FY2025 depressed by ~$1.6B program charges vs ~10-11% normalized (estimate

Op margin

~6.7% GAAP FY2025fact, charge-depressed); ~11% segment operating margin in a clean year (estimate

Capex intensityfact

~2.2%capex $1.649B / revenue $75.0B, FY2025

Market cap

~$116-117Bfact, ~$505/share, 25 Jun 2026

Price · 1-year trend

real · weekly

$505+10% 1yUSD

52-week range

$421 – $672

52w lowas of 2026-06-25 · Yahoo Finance52w high

Across the boards

The thesis on this name

opportunityModerate

Space / launch economics

Full context

position · longModerate

Space / launch economics

Full context

book · long

Space / launch economics

Full context

The read

Where our coverage leans

Coverage leans bullish

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Full financial intelligence for Lockheed Martin

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence