Lockheed Martin Corp
Exchange: NYSESector: IndustrialsIndustry: Aerospace & Defense
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready.
Did you know?
A large-cap company with a $144.1B market cap.
Current Price
$622.79
+0.83%GoodMoat Value
$562.38
9.7% overvaluedProfile
Valuation (TTM)
Market Cap$144.11B
P/E28.72
EV$160.18B
P/B21.44
Shares Out231.40M
P/Sales1.92
Revenue$75.05B
EV/EBITDA18.53
Lockheed Martin Corp (LMT) Stock Analysis
GoodMoat Analysis
Lockheed Martin is a leading aerospace and defense prime contractor with a strong competitive moat, but its valuation appears full relative to its growth and the GoodMoat target price. The company's high leverage and moderate growth profile warrant a cautious assessment for value investors.
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Lockheed Martin is a premier global security and aerospace company, primarily engaged in the research, design, development, manufacture, and integration of advanced technology systems for defense, civil, and commercial applications. Its moat is anchored by high switching costs and regulatory barriers, as its long-term contracts for mission-critical defense systems (like the F-35) are difficult to disrupt, and the sector has high entry barriers due to security clearances and specialized expertise. Applying the GoodMoat framework, it likely scores well on criteria like switching costs, regulatory barriers, and strategic partnerships, meeting the 'Proceed' threshold of a Moat Score ≥ 5. However, the company's financial quality is mixed. While its Return on Equity of 74.6% is exceptional, its Debt/Equity ratio of 3.23 is high, and its 9.1% revenue growth is solid but not exceptional. The current price of $624.2 trades at a P/E of 28.8, which is elevated for this growth rate, and is above the GoodMoat target of $562.38, indicating a marginal or unfavourable margin of safety. For a value investor, this suggests the stock is fairly or fully valued. While the business possesses a durable moat, the combination of high leverage, moderate growth, and a price above the target valuation means any further investigation should be approached with caution, focusing on debt sustainability and future contract awards. Analysis based on data as of 2024-05-15.
Market Cap$144.11B
Current Price$622.79
P/E Ratio28.72
Forward P/E—
PEG Ratio0.18
EPS$21.49
Book Value$29.05
P/B Ratio21.44
LMT Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 2.9% FCF growth (CAGR)
Cash vs Debt
Net Debt: 17.6B
Revenue
59.8B
FY19
65.4B
FY20
67.0B
FY21
66.0B
FY22
67.6B
FY23
71.0B
FY24
75.0B
FY25
Net Income
6.2B
FY19
6.8B
FY20
6.3B
FY21
5.7B
FY22
6.9B
FY23
5.3B
FY24
5.0B
FY25
LMT 52-Week Range
$402.54
$676.70
50-Day MA: $632.81200-Day MA: $508.24
Did you know?
Profit margin stands at 6.7%.
Lockheed Martin Corp (LMT) Financial Summary
Lockheed Martin Corp (LMT) is a Industrials company in the Aerospace & Defense industry, listed on NYSE. The stock currently trades at $622.79 with a market capitalization of $144.11B.
Key valuation metrics include a P/E ratio of 28.72, price-to-book ratio of 21.44, and EPS of $21.49. The company reports a profit margin of 6.7% and return on equity of 74.6%.
LMT Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $144.11B |
| P/E Ratio | 28.72 |
| EPS | $21.49 |
| P/B Ratio | 21.44 |
| P/S Ratio | 1.92 |
| EV/EBITDA | 18.53 |
| Dividend Yield | 2.17% |
| Profit Margin | 6.7% |
| Return on Equity | 74.6% |
| Debt/Equity | 3.23 |
LMT Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $59.81B | $6.23B |
| FY20 | $65.40B | $6.83B |
| FY21 | $67.04B | $6.32B |
| FY22 | $65.98B | $5.73B |
| FY23 | $67.57B | $6.92B |
| FY24 | $71.04B | $5.34B |
| FY25 | $75.05B | $5.02B |
Lockheed Martin Corp (LMT) Valuation
Based on GoodMoat's DCF model, Lockheed Martin Corp has a fair value estimate of $562.38. At the current price of $622.79, the stock appears 10.7% overvalued relative to our intrinsic value estimate.
LMT Quality Indicators
Lockheed Martin Corp maintains a profit margin of 6.7% and an operating margin of 10.2%. Return on equity stands at 74.6%. The current ratio is 1.09. Debt-to-equity ratio is 3.23.
About Lockheed Martin Corp
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready.
LMT Free Cash Flow
Lockheed Martin Corp generated $6.91B in trailing twelve-month free cash flow, representing an FCF yield of 4.79%. This moderate FCF yield indicates reasonable cash generation.
LMT Shares Outstanding
Lockheed Martin Corp has 0.23 billion shares outstanding at a share price of $622.79, giving it a market capitalization of $144.11B.
LMT Recent Insider Trades
Recent insider transactions at Lockheed Martin Corp include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Cahill Timothy S (Pres. Missiles & Fire Control) | SELL | 80 | — |
| Ulmer Gregory M (President Aeronautics) | SELL | 320 | — |
| Hill Stephanie C. (Pres. Rotary & Mission Systems) | SELL | 10 | $6660.50 |