SEC Tracker
Get the app
LMT · XBRL financial data

Lockheed Martin financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

Download Excel Download CSV
How these numbers work
  • Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
  • Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
  • * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
  • 0 means a filing states zero; a dash (—) means no filing states that number.
  • “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
  • Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
  • Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
  • Shares outstanding come from each filing's cover page, as of the date printed there.
  • Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

CSV

Fiscal years (LMT's year ends in late December)

In millions of dollarsDec 31, 2020Dec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024Dec 31, 2025
Revenue65,39867,04465,98467,57171,04375,048
Cost of revenue56,74457,98357,69759,09264,11367,429
Cost of goods and services sold56,74457,983————
Gross profit8,6549,0618,2878,4796,9307,619
Research and development1,3001,5001,7001,5001,6002,000
Other operating income (expense)(10)62612883112
Operating income (loss)8,6449,1238,3488,5077,0137,731
Interest expense5915696239161,0361,118
Other income (expense)182288(74)64181183
Income tax expense (benefit)1,3471,2359481,178884905
Net income (loss)6,8336,3155,7326,9205,3365,017
Earnings per share, basic USD per share24.4022.8521.7427.6522.3921.56
Earnings per share, diluted USD per share24.3022.7621.6627.5522.3121.49
Weighted average shares, basic millions of shares280276264250238233
Weighted average shares, diluted millions of shares281277265251239234

Balance sheet

CSV

Fiscal years (LMT's year ends in late December)

In millions of dollarsDec 31, 2020Dec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024Dec 31, 2025
Cash and cash equivalents3,1603,6042,5471,4422,4834,121
Inventory3,5452,9813,0883,1323,4743,524
Total current assets19,37819,81520,99120,52121,84925,362
Property and equipment, net7,2137,5977,9758,3708,7268,875
Right-of-use asset1,0001,3001,1001,1001,000976
Goodwill10,80610,81310,78010,79911,06711,314
Total assets50,71050,87352,88052,45655,61759,840
Accounts payable8807802,1172,3122,2223,630
Current portion of long-term debt50061181686431,168
Total current liabilities13,93313,99715,88716,93719,42023,335
Long-term debt11,66911,67015,42917,29119,62720,532
Lease liability, non-current8411,100916862833825
Total liabilities44,67239,91443,61445,62149,28453,119
Retained earnings21,63621,60016,94315,39814,55114,034
Total stockholders' equity6,01510,9599,2666,8356,3336,721
Total liabilities and equity50,71050,87352,88052,45655,61759,840
Common shares outstanding (cover page) millions of shares280272255242235230

Cash flows

CSV

Fiscal years (LMT's year ends in late December)

In millions of dollarsDec 31, 2020Dec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024Dec 31, 2025
Net income (loss)6,8336,3155,7326,9205,3365,017
Stock-based compensation221227238265277304
Net cash from operating activities8,1839,2217,8027,9206,9728,557
Net cash from investing activities(2,010)(1,161)(1,789)(1,694)(1,792)(1,977)
Share repurchases1,1004,0877,9006,0003,7003,000
Dividends paid2,7642,9403,0163,0563,0593,131
Proceeds from long-term debt1,131—————
Net cash from financing activities(4,527)(7,616)(7,070)(7,331)(4,139)(4,942)
Net change in cash1,646444(1,057)(1,105)1,0411,638

Compare with peers

Defense primes first (General Dynamics, Northrop Grumman, L3Harris, Huntington Ingalls, RTX), then SIC 3760 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen
  • SIC 3760 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
  • Defense primes first (General Dynamics, Northrop Grumman, L3Harris, Huntington Ingalls, RTX), whatever their size; consumer navigation makers are left out.
  • Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
  • Companies after the primes are not on that list: each is there for its industry code and size, and is marked “added” with its code.
  • * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
  • A cell reading “not reported” means the filings give no figure for that quarter alone.
CompanyCash ($M)Revenue, quarter ($M)Operating cash flow, quarter ($M)Shares outstandingQuarter
Lockheed Martin5,96020,7113,438*231.0M 10-QSep 27, 2026
General Dynamics4,38814,5661,710*270.2M 10-QOct 4, 2026
Northrop Grumman3,74411,1221,745*142.1M 10-QSep 30, 2026
L3harris Technologies2,4716,0601,439*186.2M 10-QOct 2, 2026
Huntington Ingalls Industries3873,537520*39.4M 10-QSep 30, 2026
RTX9,17324,9652,868*1.3B 10-QSep 30, 2026
Honeywell Internationaladded: SIC 3724, similar size5,6944,994not reported317.4M 10-QSep 30, 2026
TransDigm Groupadded: SIC 3728, similar size2,7732,741724*55.3M 10-QJun 27, 2026
Boeingadded: SIC 3721, similar size9,49824,1881,496*792.4M 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.