{ "ticker": "LMT", "cik": "0000936468", "company": "Lockheed Martin Corporation", "business_type": "industrial", "schema_template": "standard industrial, adapted to a defense contractor: product and service sales and their operating costs as the statement prints them, gross profit, operating profit, interest and pension lines, pre-tax earnings, income taxes, net earnings, EPS and weighted shares; the full balance sheet with total debt; operating, investing and financing cash flow with capital expenditures, free cash flow, buybacks and dividends; dividends declared; contract backlog; and the four business segments (Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, Space) with segment operating profit and its reconciliation to consolidated operating profit", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual US dollars (not millions); per-share amounts in dollars; share counts in actual shares", "units_notes_seen": { "FY2025 10-K consolidated 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"label": "Q3 FY2026", "period_start": "2026-06-29", "period_end": "2026-09-27", "period_type": "three months", "source_accession": "0001628280-26-066928", "cash_flow_source_accession": "0001628280-26-066780", "backlog_source_accession": "0001628280-26-066780", "income_statement": { "products_sales": 17429000000, "services_sales": 3282000000, "total_sales": 20711000000, "products_operating_costs": -15609000000, "services_operating_costs": -2882000000, "impairment_and_other_charges": 0, "other_unallocated_net": 216000000, "total_operating_costs_and_expenses": -18275000000, "gross_profit": 2436000000, "other_income_net": 7000000, "operating_profit": 2443000000, "interest_expense": -264000000, "non_service_fas_pension_income_or_expense": -81000000, "other_non_operating_income_net": 74000000, "earnings_before_income_taxes": 2172000000, "income_tax_expense": -327000000, "net_earnings": 1845000000, "basic_eps": 8, "diluted_eps": 7.97, "basic_shares": 230500000, "diluted_shares": 231500000 }, 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"shareholder_returns": { "dividends_declared": 0 }, "backlog": { "total_backlog": 179071000000 } } ], "year_to_date": { "fiscal_year": 2026, "label": "Nine months ended September 27, 2026", "period_start": "2026-01-01", "period_end": "2026-09-27", "period_type": "nine months", "source_accession": "0001628280-26-066928", "prior_year_comparative": { "fiscal_year": 2025, "label": "Nine months ended September 28, 2025", "period_start": "2025-01-01", "period_end": "2025-09-28", "period_type": "nine months", "source_accession": "0001628280-26-066928", "income_statement": { "products_sales": 45396000000, "services_sales": 9331000000, "total_sales": 54727000000, "products_operating_costs": -41461000000, "services_operating_costs": -8641000000, "impairment_and_other_charges": -66000000, "other_unallocated_net": 738000000, "total_operating_costs_and_expenses": -49430000000, "gross_profit": 5297000000, "other_income_net": 103000000, "operating_profit": 5400000000, "interest_expense": -828000000, 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"other_income_net": 25000000, "operating_profit": 6985000000, "interest_expense": -799000000, "non_service_fas_pension_income_or_expense": -241000000, "other_non_operating_income_net": 179000000, "earnings_before_income_taxes": 6124000000, "income_tax_expense": -955000000, "net_earnings": 5169000000, "basic_eps": 22.45, "diluted_eps": 22.36, "basic_shares": 230200000, "diluted_shares": 231200000 }, "segments": { "aeronautics": { "sales": 23279000000, "operating_profit": 2122000000 }, "missiles_and_fire_control": { "sales": 12251000000, "operating_profit": 1725000000 }, "rotary_and_mission_systems": { "sales": 12856000000, "operating_profit": 1384000000 }, "space": { "sales": 10409000000, "operating_profit": 983000000 }, "total_business_segment_operating_profit": 6214000000, "unallocated_fas_cas_pension_operating_adjustment": 1264000000, "unallocated_impairment_and_other_charges": 0, "unallocated_intangible_asset_amortization_expense": -149000000, "unallocated_other_net": -344000000, "total_unallocated_items_net": 771000000 }, "cash_flow": { "depreciation_and_amortization": 1223000000, "stock_based_compensation": 269000000, "net_cash_provided_by_operating_activities": 6893000000, "capital_expenditures": -1268000000, "net_cash_used_for_investing_activities": -1360000000, "issuance_of_long_term_debt_net": 0, "repayments_of_long_term_debt": -1168000000, "repurchases_of_common_stock": 0, "dividends_paid": -2408000000, "net_cash_used_for_financing_activities": -3694000000, "net_change_in_cash_and_cash_equivalents": 1839000000, "free_cash_flow": 5625000000 }, "shareholder_returns": { "dividends_declared": -2401000000, "dividends_declared_per_share": 10.35 } }, "trailing_twelve_months": { "label": "Twelve months ended September 27, 2026", "period_start": "2025-09-29", "period_end": "2026-09-27", "period_type": "trailing twelve months", "source_accession": "0001628280-26-066928", "derived_from_accessions": [ "0001628280-26-004195", "0001628280-26-066928" ], "income_statement": { "products_sales": 66301000000, "services_sales": 12815000000, "total_sales": 79116000000, "products_operating_costs": -59629000000, "services_operating_costs": -11226000000, "total_operating_costs_and_expenses": -69834000000, "gross_profit": 9282000000, "operating_profit": 9316000000, "interest_expense": -1089000000, "earnings_before_income_taxes": 7655000000, "income_tax_expense": -1142000000, "net_earnings": 6513000000 }, "cash_flow": { "depreciation_and_amortization": 1686000000, "net_cash_provided_by_operating_activities": 10112000000, "capital_expenditures": -1731000000, "free_cash_flow": 8381000000, "repurchases_of_common_stock": -750000000, "dividends_paid": -3207000000 } }, "notes": [ "Annual figures (FY2023 to FY2025) come from the FY2025 Form 10-K (accession 0001628280-26-004195). The 10-K presents three years of earnings and cash flows but only two year-end balance sheets, so FY2023 carries no balance sheet.", "Quarterly and nine-month figures come from the Q3 2026 Form 10-Q (accession 0001628280-26-066928), which presents the quarters and nine months ended September 27, 2026 and September 28, 2025 and balance sheets at September 27, 2026 and December 31, 2025. No balance sheet is published for the year-ago quarter end, so Q3 FY2025 carries none.", "Lockheed Martin closes its interim books on the last Sunday of the quarter (September 27, 2026 and September 28, 2025); its fiscal year ends December 31. The company's earnings release reports the first quarter of 2026 as 12 weeks against 13 weeks in the first quarter of 2025, so the nine months ended September 27, 2026 contain one fewer week than the prior-year nine months; both third quarters were 13 weeks.", "The 10-Q prints its cash flow statement for the nine months only. The three-month operating cash flow, capital expenditures and free cash flow shown for Q3 FY2026 and Q3 FY2025 are from the company's third-quarter 2026 earnings release, furnished as Exhibit 99.1 to the Form 8-K filed October 22, 2026 (accession 0001628280-26-066780), and are cited separately on those periods. The Q3 FY2026 segment backlog and total backlog are from the same release.", "Free cash flow is a non-GAAP measure the company defines as cash from operations less capital expenditures; the figures here are the ones the company prints in its free cash flow reconciliations (10-K and 10-Q MD&A, and the earnings release for the single quarters).", "Amounts the filings print in parentheses (operating costs and expenses, interest expense, income tax expense, cash outflows, dividends declared, accumulated other comprehensive loss) are stored as negative numbers, matching the statements' own signs. Gross profit is total sales plus total operating costs and expenses (a negative figure) as the statement of earnings presents it.", "Total debt is derived as current maturities of long-term debt plus long-term debt, net, as printed on the balance sheet: $21,700 million at December 31, 2025, $20,270 million at December 31, 2024, and $20,498 million at September 27, 2026 (no current maturities were outstanding at that date).", "Beginning in 2026 the company's balance sheet no longer shows capitalized software as a separate line. The 10-Q's December 31, 2025 comparative shows property, plant and equipment, net of $11,292 million, which equals the 10-K's property, plant and equipment, net ($8,875 million) plus capitalized software ($2,417 million). The September 27, 2026 figure is therefore recorded as property_plant_and_equipment_net_including_capitalized_software, while the annual balance sheets keep the two lines the 10-K prints. Total assets at December 31, 2025 ($59,840 million) are the same in both filings.", "Annual total backlog for FY2025 and FY2024 is the sum of the four segment backlogs the 10-K prints; it matches the 10-K's stated $193.6 billion at December 31, 2025 and $176.0 billion at December 31, 2024. The FY2023 total ($160,567 million) is the same segment sum; the FY2025 10-K does not state it as a single figure.", "Dividends declared per share are as printed in the statements of equity. The 10-Q's statement of equity shows no dividend declared in the quarter ended September 28, 2025, so Q3 FY2025 records dividends declared of zero and no per-share amount; dividends paid in cash for the nine months are shown in the cash flow figures.", "The trailing twelve months ended September 27, 2026 are derived as FY2025 (10-K) plus the nine months ended September 27, 2026 less the nine months ended September 28, 2025 (10-Q). No per-share figures are derived for this period.", "Segment sales, segment operating profit and the unallocated items that reconcile total business segment operating profit to consolidated operating profit are from the 10-K's selected financial data by business segment and the 10-Q's Note 4. Business segment operating profit is a non-GAAP measure in the company's earnings release.", "No stock splits occurred in the periods covered, and Lockheed Martin is not an ADR issuer; per-share figures are as filed." ], "uncertainties": [ "The 10-Q's nine-month cash flow statement presents qualified defined benefit pension plan activity as a single adjustment, whereas the FY2025 10-K shows a pension settlement charge and pension plan cash changes as separate lines. Only line items presented the same way in both filings (depreciation and amortization, stock-based compensation, the activity subtotals, capital expenditures, debt, buybacks and dividends) are recorded; the operating cash flow totals are not affected by the difference in presentation.", "The trailing twelve months are derived arithmetically and are not a period the company reports; because of the company's week-based quarter closes, the period is not exactly twelve calendar months." ], "headline": { "period": "Q3 FY2026", "period_end_words": "September 27, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 20711000000, "text": "$20.71 billion", "exact": "$20,711,000,000", "compact": "$20.71B", "abs": "$20.71 billion", "prior_value": 18609000000, "prior": "$18.61 billion", "priorabs": "$18.61 billion", "yoy": "up 11.3%", "source": { "array": "quarterly", "field": "income_statement.total_sales", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-09-27", "period_start": "2026-06-29", "span_days": 90, "source_accession": "0001628280-26-066928", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-09-28", "prior_period_start": "2025-06-30", "prior_span_days": 90, "prior_source_accession": "0001628280-26-066928", "gap_days": 364 } }, { "label": "Net earnings", "format": "usd", "value": 1845000000, "text": "$1.84 billion", "exact": "$1,845,000,000", "compact": "$1.84B", "abs": "$1.84 billion", "prior_value": 1619000000, "prior": "$1.62 billion", "priorabs": "$1.62 billion", "yoy": "up 14.0%", "source": { "array": "quarterly", "field": "income_statement.net_earnings", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-09-27", "period_start": "2026-06-29", "span_days": 90, "source_accession": "0001628280-26-066928", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-09-28", "prior_period_start": "2025-06-30", "prior_span_days": 90, "prior_source_accession": "0001628280-26-066928", "gap_days": 364 } }, { "label": "Diluted EPS", "format": "eps", "value": 7.97, "text": "$7.97", "exact": "$7.97", "compact": "$7.97", "abs": "$7.97", "prior_value": 6.95, "prior": "$6.95", "priorabs": "$6.95", "yoy": "up 14.7%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-09-27", "period_start": "2026-06-29", "span_days": 90, "source_accession": "0001628280-26-066928", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-09-28", "prior_period_start": "2025-06-30", "prior_span_days": 90, "prior_source_accession": "0001628280-26-066928", "gap_days": 364 } }, { "label": "Operating profit", "format": "usd", "value": 2443000000, "text": "$2.44 billion", "exact": "$2,443,000,000", "compact": "$2.44B", "abs": "$2.44 billion", "prior_value": 2280000000, "prior": "$2.28 billion", "priorabs": "$2.28 billion", "yoy": "up 7.1%", "source": { "array": "quarterly", "field": "income_statement.operating_profit", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-09-27", "period_start": "2026-06-29", "span_days": 90, "source_accession": "0001628280-26-066928", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-09-28", "prior_period_start": "2025-06-30", "prior_span_days": 90, "prior_source_accession": "0001628280-26-066928", "gap_days": 364 } }, { "label": "Backlog", "format": "usd", "value": 291984000000, "text": "$291.98 billion", "exact": "$291,984,000,000", "compact": "$291.98B", "abs": "$291.98 billion", "prior_value": null, "prior": null, "priorabs": null, "yoy": null, "source": { "array": "quarterly", "field": "backlog.total_backlog", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-09-27", "period_start": "2026-06-29", "span_days": 90, "source_accession": "0001628280-26-066780" } } ], "summary": "Lockheed Martin reported net earnings of $1.84 billion, or $7.97 per diluted share, on net sales of $20.71 billion for Q3 FY2026, the quarter ended September 27, 2026. Net sales were up 11.3% from a year earlier, with sales higher in all four business segments, and net earnings were up 14.0%, while operating profit was up 7.1% at $2.44 billion. Backlog rose to a record $291.98 billion at quarter end, mainly on a multi-year award to produce PAC-3 MSE interceptors.", "qa": [ { "q": "How much did Lockheed Martin earn in Q3 FY2026?", "a": "Lockheed Martin reported net earnings of $1.84 billion, or $7.97 per diluted share, for Q3 FY2026, the quarter ended September 27, 2026. Net earnings were up 14.0% from $1.62 billion in the same quarter a year earlier, when diluted earnings per share were $6.95." }, { "q": "What was Lockheed Martin's revenue in Q3 FY2026?", "a": "Lockheed Martin reported net sales of $20.71 billion for Q3 FY2026, the quarter ended September 27, 2026, up 11.3% from $18.61 billion a year earlier. Sales rose in all four of its business segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space." }, { "q": "What was Lockheed Martin's operating profit in Q3 FY2026?", "a": "Lockheed Martin's operating profit was $2.44 billion for Q3 FY2026, the quarter ended September 27, 2026, up 7.1% from $2.28 billion in the same quarter a year earlier." }, { "q": "How big is Lockheed Martin's backlog?", "a": "Lockheed Martin's backlog was a record $291.98 billion at September 27, 2026, the end of Q3 FY2026. Most of the increase during the quarter came from a multi-year award to produce PAC-3 MSE interceptors." } ] }, "company_details": { "Name": "Lockheed Martin Corp", "Ticker": "LMT", "CIK": "0000936468", "Exchange": "NYSE", "State": "Maryland", "Incorporation": "Maryland", "SIC": "3760", "Office": "Manufacturing", "Industry": "Guided Missiles & Space Vehicles & Parts" }, "next_filing": { "predicted_date": "2027-01-28", "predicted_type": "10-K" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-27", "form": "10-Q", "accession": "0001628280-26-066928", "fiscal_year_end": "1231", "source": "facts" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-12-31", "filed": "2026-01-29", "accession": "0001628280-26-004195", "url": "https://www.sec.gov/Archives/edgar/data/936468/000162828026004195/lmt-20251231.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-27", "filed": "2026-10-22", "accession": "0001628280-26-066928", "url": "https://www.sec.gov/Archives/edgar/data/936468/000162828026066928/lmt-20260927.htm", "source": "facts" } ], "figure_sources": { "about": "Where each figure in this file is printed in its SEC filing. 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A figure with no entry is not printed in a tagged filing, either because it was calculated (margins, free cash flow, trailing twelve months, a quarter derived by subtraction) or because it comes from an untagged earnings release.", "documents": { "d1": "https://www.sec.gov/Archives/edgar/data/936468/000162828026004195/lmt-20251231.htm", "d2": "https://www.sec.gov/Archives/edgar/data/936468/000162828026066928/lmt-20260927.htm" }, "annual": [ { "period_end": "2025-12-31", "income_statement": { "products_sales": "d1#f-53", "services_sales": "d1#f-56", "total_sales": "d1#f-59", "products_operating_costs": "d1#f-62", "services_operating_costs": "d1#f-65", "impairment_and_other_charges": "d1#f-68", "other_unallocated_net": "d1#f-71", "total_operating_costs_and_expenses": "d1#f-74", "gross_profit": "d1#f-77", "other_income_net": "d1#f-80", "operating_profit": "d1#f-83", "interest_expense": "d1#f-86", "non_service_fas_pension_income_or_expense": "d1#f-89", "other_non_operating_income_net": 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