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Lockheed Martin Corporation (LMT) Q3 FY2026 Financial Statements: Revenue $20.71B, Net earnings $1.84B

CIK 0000936468 · NYSE · Latest period: Q3 FY2026 (ended 2026-09-27, 10-Q accession 0001628280-26-066928) · Annual report: FY2025 10-K (filed 2026-01-29, accession 0001628280-26-004195) · Next expected filing: 10-K ~2027-01-28

More for Lockheed Martin: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ3 FY2026

Published

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.

MetricAmountvs. year ago
Revenue$20,711,000,000up 11.3%
Net earnings$1,845,000,000up 14.0%
Diluted EPS$7.97up 14.7%
Operating profit$2,443,000,000up 7.1%
Backlog$291,984,000,000

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerLMT
CIK0000936468
CompanyLockheed Martin Corporation
Business typeindustrial
Schema templatestandard 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 currencyUSD
Converted to USDno
Unitsactual US dollars (not millions); per-share amounts in dollars; share counts in actual shares

LMT annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Income statement
Products sales62,654,000,00059,277,000,00056,265,000,000
Services sales12,394,000,00011,766,000,00011,306,000,000
Total sales75,048,000,00071,043,000,00067,571,000,000
Products operating costs-57,020,000,000-54,852,000,000-50,206,000,000
Services operating costs-11,339,000,000-10,217,000,000-10,027,000,000
Impairment and other charges-66,000,000-87,000,000-92,000,000
Other unallocated net996,000,0001,043,000,0001,233,000,000
Total operating costs and expenses-67,429,000,000-64,113,000,000-59,092,000,000
Gross profit7,619,000,0006,930,000,0008,479,000,000
Other income net112,000,00083,000,00028,000,000
Operating profit7,731,000,0007,013,000,0008,507,000,000
Interest expense-1,118,000,000-1,036,000,000-916,000,000
Non service fas pension income or expense-874,000,00062,000,000443,000,000
Other non operating income net183,000,000181,000,00064,000,000
Earnings before income taxes5,922,000,0006,220,000,0008,098,000,000
Income tax expense-905,000,000-884,000,000-1,178,000,000
Net earnings5,017,000,0005,336,000,0006,920,000,000
Basic EPS21.5622.3927.65
Diluted EPS21.4922.3127.55
Basic shares232,700,000238,300,000250,300,000
Diluted shares233,500,000239,200,000251,200,000
Balance sheet
Cash and cash equivalents4,121,000,0002,483,000,000
Receivables net3,901,000,0002,351,000,000
Contract assets13,001,000,00012,957,000,000
Inventories3,524,000,0003,474,000,000
Other current assets815,000,000584,000,000
Total current assets25,362,000,00021,849,000,000
Property plant and equipment net8,875,000,0008,726,000,000
Goodwill11,314,000,00011,067,000,000
Intangible assets net1,887,000,0002,015,000,000
Deferred income taxes2,975,000,0003,557,000,000
Capitalized software2,417,000,0001,866,000,000
Other noncurrent assets7,010,000,0006,537,000,000
Total assets59,840,000,00055,617,000,000
Accounts payable3,630,000,0002,222,000,000
Salaries benefits and payroll taxes3,184,000,0003,125,000,000
Contract liabilities11,440,000,0009,795,000,000
Current maturities of long term debt1,168,000,000643,000,000
Other current liabilities3,913,000,0003,635,000,000
Total current liabilities23,335,000,00019,420,000,000
Long term debt net20,532,000,00019,627,000,000
Accrued pension liabilities3,915,000,0004,791,000,000
Other noncurrent liabilities5,337,000,0005,446,000,000
Total liabilities53,119,000,00049,284,000,000
Common stock229,000,000234,000,000
Additional paid in capital00
Retained earnings14,034,000,00014,551,000,000
Accumulated other comprehensive loss-7,542,000,000-8,452,000,000
Total stockholders equity6,721,000,0006,333,000,000
Total debt21,700,000,00020,270,000,000
Cash flow
Depreciation and amortization1,687,000,0001,559,000,0001,430,000,000
Stock based compensation304,000,000277,000,000265,000,000
Net cash provided by operating activities8,557,000,0006,972,000,0007,920,000,000
Capital expenditures-1,649,000,000-1,685,000,000-1,691,000,000
Net cash used for investing activities-1,977,000,000-1,792,000,000-1,694,000,000
Issuance of long term debt net1,985,000,0002,970,000,0001,975,000,000
Repayments of long term debt-642,000,000-168,000,000-115,000,000
Repurchases of common stock-3,000,000,000-3,700,000,000-6,000,000,000
Dividends paid-3,131,000,000-3,059,000,000-3,056,000,000
Net cash used for financing activities-4,942,000,000-4,139,000,000-7,331,000,000
Net change in cash and cash equivalents1,638,000,0001,041,000,000-1,105,000,000
Free cash flow6,908,000,0005,287,000,0006,229,000,000
Segments
Aeronautics
Sales30,257,000,00028,618,000,00027,474,000,000
Operating profit2,086,000,0002,523,000,0002,825,000,000
Backlog59,435,000,00062,763,000,00060,156,000,000
Missiles and fire control
Sales14,450,000,00012,682,000,00011,253,000,000
Operating profit1,989,000,000413,000,0001,541,000,000
Backlog46,650,000,00038,783,000,00032,229,000,000
Rotary and mission systems
Sales17,312,000,00017,264,000,00016,239,000,000
Operating profit1,323,000,0001,921,000,0001,865,000,000
Backlog47,715,000,00038,117,000,00037,726,000,000
Space
Sales13,029,000,00012,479,000,00012,605,000,000
Operating profit1,345,000,0001,226,000,0001,158,000,000
Backlog39,822,000,00036,377,000,00030,456,000,000
Total business segment operating profit6,743,000,0006,083,000,0007,389,000,000
Unallocated fas cas pension operating adjustment1,518,000,0001,624,000,0001,660,000,000
Unallocated intangible asset amortization expense-254,000,000-247,000,000-247,000,000
Unallocated impairment and other charges-66,000,000-87,000,000-92,000,000
Unallocated other net-210,000,000-360,000,000-203,000,000
Total unallocated items net988,000,000930,000,0001,118,000,000
Shareholder returns
Dividends declared-3,126,000,000-3,056,000,000-3,051,000,000
Dividends declared per share13.3512.7512.15
Backlog
Total backlog193,622,000,000176,040,000,000160,567,000,000

LMT quarterly income statement, balance sheet and cash flow

Q3 FY2026Q3 FY2025
Fiscal quarter33
Period start2026-06-292025-06-30
Period end2026-09-272025-09-28
Period typethree monthsthree months
Source accession10-Q10-Q
Cash flow source accession0001628280-26-0667800001628280-26-066780
Backlog source accession0001628280-26-0667800001628280-25-045582
Income statement
Products sales17,429,000,00015,311,000,000
Services sales3,282,000,0003,298,000,000
Total sales20,711,000,00018,609,000,000
Products operating costs-15,609,000,000-13,708,000,000
Services operating costs-2,882,000,000-2,871,000,000
Impairment and other charges00
Other unallocated net216,000,000210,000,000
Total operating costs and expenses-18,275,000,000-16,369,000,000
Gross profit2,436,000,0002,240,000,000
Other income net7,000,00040,000,000
Operating profit2,443,000,0002,280,000,000
Interest expense-264,000,000-286,000,000
Non service fas pension income or expense-81,000,000-99,000,000
Other non operating income net74,000,00043,000,000
Earnings before income taxes2,172,000,0001,938,000,000
Income tax expense-327,000,000-319,000,000
Net earnings1,845,000,0001,619,000,000
Basic EPS8.006.98
Diluted EPS7.976.95
Basic shares230,500,000231,900,000
Diluted shares231,500,000232,800,000
Segments
Aeronautics
Sales8,214,000,0007,256,000,000
Operating profit743,000,000682,000,000
Backlog57,331,000,000
Missiles and fire control
Sales4,501,000,0003,624,000,000
Operating profit631,000,000510,000,000
Backlog142,517,000,000
Rotary and mission systems
Sales4,511,000,0004,373,000,000
Operating profit524,000,000506,000,000
Backlog49,435,000,000
Space
Sales3,485,000,0003,356,000,000
Operating profit331,000,000331,000,000
Backlog42,701,000,000
Total business segment operating profit2,229,000,0002,029,000,000
Unallocated fas cas pension operating adjustment421,000,000380,000,000
Unallocated impairment and other charges00
Unallocated intangible asset amortization expense-49,000,000-70,000,000
Unallocated other net-158,000,000-59,000,000
Total unallocated items net214,000,000251,000,000
Balance sheet
Cash and cash equivalents5,960,000,000
Receivables net3,096,000,000
Contract assets16,899,000,000
Inventories3,987,000,000
Other current assets1,059,000,000
Total current assets31,001,000,000
Property plant and equipment net including capitalized software11,524,000,000
Goodwill11,299,000,000
Intangible assets net1,737,000,000
Deferred income taxes1,819,000,000
Other noncurrent assets7,130,000,000
Total assets64,510,000,000
Accounts payable5,005,000,000
Salaries benefits and payroll taxes3,349,000,000
Contract liabilities12,644,000,000
Current maturities of long term debt0
Other current liabilities3,542,000,000
Total current liabilities24,540,000,000
Long term debt net20,498,000,000
Accrued pension liabilities3,938,000,000
Other noncurrent liabilities5,471,000,000
Total liabilities54,447,000,000
Common stock230,000,000
Additional paid in capital451,000,000
Retained earnings16,802,000,000
Accumulated other comprehensive loss-7,420,000,000
Total stockholders equity10,063,000,000
Total debt20,498,000,000
Cash flow
Net cash provided by operating activities3,438,000,0003,728,000,000
Capital expenditures-439,000,000-381,000,000
Free cash flow2,999,000,0003,347,000,000
Backlog
Total backlog291,984,000,000179,071,000,000
Shareholder returns
Dividends declared-802,000,0000
Dividends declared per share3.45

LMT year-to-date income statement and cash flow

Nine months ended September 27, 2026Nine months ended September 28, 2025
Period start2026-01-012025-01-01
Period end2026-09-272025-09-28
Period typenine monthsnine months
Source accession10-Q10-Q
Income statement
Products sales49,043,000,00045,396,000,000
Services sales9,752,000,0009,331,000,000
Total sales58,795,000,00054,727,000,000
Products operating costs-44,070,000,000-41,461,000,000
Services operating costs-8,528,000,000-8,641,000,000
Impairment and other charges0-66,000,000
Other unallocated net763,000,000738,000,000
Total operating costs and expenses-51,835,000,000-49,430,000,000
Gross profit6,960,000,0005,297,000,000
Other income net25,000,000103,000,000
Operating profit6,985,000,0005,400,000,000
Interest expense-799,000,000-828,000,000
Non service fas pension income or expense-241,000,000-296,000,000
Other non operating income net179,000,000115,000,000
Earnings before income taxes6,124,000,0004,391,000,000
Income tax expense-955,000,000-718,000,000
Net earnings5,169,000,0003,673,000,000
Basic EPS22.4515.74
Diluted EPS22.3615.69
Basic shares230,200,000233,300,000
Diluted shares231,200,000234,100,000
Segments
Aeronautics
Sales23,279,000,00021,733,000,000
Operating profit2,122,000,0001,304,000,000
Missiles and fire control
Sales12,251,000,00010,430,000,000
Operating profit1,725,000,0001,454,000,000
Rotary and mission systems
Sales12,856,000,00012,696,000,000
Operating profit1,384,000,000855,000,000
Space
Sales10,409,000,0009,868,000,000
Operating profit983,000,0001,072,000,000
Total business segment operating profit6,214,000,0004,685,000,000
Unallocated fas cas pension operating adjustment1,264,000,0001,138,000,000
Unallocated impairment and other charges0-66,000,000
Unallocated intangible asset amortization expense-149,000,000-197,000,000
Unallocated other net-344,000,000-160,000,000
Total unallocated items net771,000,000715,000,000
Cash flow
Depreciation and amortization1,223,000,0001,224,000,000
Stock based compensation269,000,000215,000,000
Net cash provided by operating activities6,893,000,0005,338,000,000
Capital expenditures-1,268,000,000-1,186,000,000
Net cash used for investing activities-1,360,000,000-1,464,000,000
Issuance of long term debt net01,985,000,000
Repayments of long term debt-1,168,000,000-142,000,000
Repurchases of common stock0-2,250,000,000
Dividends paid-2,408,000,000-2,332,000,000
Net cash used for financing activities-3,694,000,000-2,887,000,000
Net change in cash and cash equivalents1,839,000,000987,000,000
Free cash flow5,625,000,0004,152,000,000
Shareholder returns
Dividends declared-2,401,000,000-2,324,000,000
Dividends declared per share10.359.90

LMT trailing twelve month income statement and cash flow

Twelve months ended September 27, 2026
Period start2025-09-29
Period end2026-09-27
Period typetrailing twelve months
Source accession10-Q
Derived from accessions10-K, 10-Q
Income statement
Products sales66,301,000,000
Services sales12,815,000,000
Total sales79,116,000,000
Products operating costs-59,629,000,000
Services operating costs-11,226,000,000
Total operating costs and expenses-69,834,000,000
Gross profit9,282,000,000
Operating profit9,316,000,000
Interest expense-1,089,000,000
Earnings before income taxes7,655,000,000
Income tax expense-1,142,000,000
Net earnings6,513,000,000
Cash flow
Depreciation and amortization1,686,000,000
Net cash provided by operating activities10,112,000,000
Capital expenditures-1,731,000,000
Free cash flow8,381,000,000
Repurchases of common stock-750,000,000
Dividends paid-3,207,000,000

Adjustments

Splits appliednone
ADR ration/a
FXnone; Lockheed Martin reports in US dollars

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.

Company details

NameLockheed Martin Corp
TickerLMT
CIK0000936468
ExchangeNYSE
StateMaryland
IncorporationMaryland
SIC3760
OfficeManufacturing
IndustryGuided Missiles & Space Vehicles & Parts

Fiscal period

Fiscal year2026
Fiscal periodQ3
TagFY26Q3
Period end2026-09-27
Form10-Q
Accession0001628280-26-066928
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-12-312026-01-290001628280-26-004195reported
quarterlyyes10-Q2026Q3FY26Q32026-09-272026-10-220001628280-26-066928facts

FAQ · Lockheed Martin financial statements

How much did Lockheed Martin earn in Q3 FY2026?

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.

What was Lockheed Martin's revenue in Q3 FY2026?

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.

What was Lockheed Martin's operating profit in Q3 FY2026?

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.

How big is Lockheed Martin's backlog?

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.

Where can I get Lockheed Martin Corporation (LMT) financial data in machine-readable form?

Ticker Scout publishes Lockheed Martin Corporation's financial statements as JSON at https://tickerscout.ai/lmt/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/lmt/narrative.md and https://tickerscout.ai/lmt/events.md. Lockheed Martin Corporation's SEC CIK is 0000936468. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Lockheed Martin Corporation (LMT) next file with the SEC?

Lockheed Martin Corporation (LMT) is expected to file its next Form 10-K with the SEC on or around January 28, 2027. That date is a projection rather than a company-announced date: it is derived from Lockheed Martin Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q3 FY2026, the period ended 2026-09-27, SEC accession 0001628280-26-066928.

How this page was built

This page was built from four of Lockheed Martin Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names two such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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