Income StatementBalance SheetCash FlowSegments
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Lockheed Martin Business Segments

Business, geographic, and product segment breakdowns

Lockheed Martin generates $75.1B in annual revenue across 4 key segments: Aeronautics ($30.2B), MFC ($14.7B), RMS ($17.0B), and Space ($13.3B). The company-wide operating margin is 9.88%. Based on the Q1 2026 filing.

Aeronautics (TTM)$30.2BMFC (TTM)$14.7BRMS (TTM)$17.0BSpace (TTM)$13.3B
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$122.95B
P/E Ratio25.65
ROE67.64%

Products & Services

Increase in contract assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
F-35 Program At Aeronautics—————$2.9B

Net sales for the F-35 program representing total consolidated net sales (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
F-35 Program2.0%25.0%28.0%26.0%1.0%27.0%

Contract Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Missile Defense Programs At MFC—————-$705.0M

Cost of Product and Service Sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Services$2.8B$2.6B$3.1B$2.9B$2.7B$2.8B

Total sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Services$3.1B$3.0B$3.0B$3.3B$3.1B$3.2B

Geographic

Total sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$13.3B$13.0B$13.2B$13.4B$14.0B$12.4B
Europe$2.5B$2.0B$2.1B$2.0B$2.7B$2.6B
Asia Pacific$1.7B$1.7B$1.9B$2.0B$2.2B$1.7B
Middle East$762.0M$704.0M$757.0M$633.0M$770.0M$794.0M
Other$367.0M$506.0M$216.0M$532.0M$605.0M$554.0M

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$0.0$0.0$0.0$0.0$0.0—
MFC$0.0$0.0$0.0$0.0$0.0—
RMS$0.0$0.0$0.0$0.0$0.0—
Space Systems$74.5M$54.3M$54.3M$54.3M$54.3M—

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
RMS$17.0B$17.2B$17.2B$17.0B$16.6B$16.5B
Aeronautics$13.2B$14.1B$15.2B$14.7B$14.7B$15.4B
Space$7.4B$7.6B$8.1B$7.9B$7.8B$7.8B
MFC$6.0B$6.1B$6.5B$6.9B$6.3B$7.5B

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$148.3M$125.8M$125.8M$125.8M$125.8M—
MFC$66.3M$58.8M$58.8M$58.8M$58.8M—
RMS$57.5M$60.8M$60.8M$60.8M$60.8M—
Space$91.5M$85.5M$85.5M$85.5M$85.5M—

Contract Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MFC$1.4B$1.3B$1.3B$1.3B$1.2B$1.1B
Aeronautics——$583.0M$530.0M$495.0M$450.0M

Cumulative losses on development

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics——$1.4B$1.8B$1.8B$1.8B
MFC$1.5B$1.5B$1.5B$1.5B$1.5B$1.5B
RMS——$670.0M$670.0M$670.0M$670.0M

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$434.0M$720.0M-$98.0M$682.0M$782.0M$619.0M
MFC—$465.0M$479.0M$510.0M$535.0M$500.0M
RMS$513.0M$521.0M-$172.0M$506.0M$468.0M$423.0M
Space$283.0M$379.0M$362.0M$331.0M$273.0M$281.0M

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$0.0$0.0$0.0$0.0$0.0—
MFC-$250.0K$1.0M$1.0M$1.0M$1.0M—
RMS-$7.3M$6.3M$6.3M$6.3M$6.3M—
Space Systems$0.0$250.0K$250.0K$250.0K$250.0K—

PP&E depreciation and software amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$113.0M$118.5M$118.5M$118.5M$118.5M—
MFC$45.8M$48.0M$48.0M$48.0M$48.0M—
RMS$56.8M$58.8M$58.8M$58.8M$58.8M—
Space$67.5M$77.8M$77.8M$77.8M$77.8M—

Total operating costs and expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$7.6B$6.3B$7.5B$6.6B$7.7B$6.3B
RMS$3.8B$3.9B$4.2B$3.9B$4.1B$3.6B
MFC$4.2B$2.9B$3.0B$3.1B$3.5B$3.2B
Space$2.7B$2.8B$3.0B$3.0B$2.9B$3.1B

Total sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aeronautics$8.0B$7.1B$7.4B$7.3B$8.5B$7.0B
RMS$4.3B$4.3B$4.0B$4.4B$4.6B$4.0B
MFC$3.4B$3.4B$3.4B$3.6B$4.0B$3.6B
Space$2.9B$3.2B$3.3B$3.4B$3.2B$3.4B

Contract Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
RMS——$680.0M$655.0M$625.0M$605.0M

Reach-forward loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
RMS—$142.5M$142.5M$142.5M$142.5M—

Net earnings from equity method investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Space$11.3M$1.3M$1.3M$1.3M$1.3M—