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Lockheed Martin LMT Q4 2025 Annual earnings

Reported January 29, 2026 · Before market open

Revenue$20.3BBeat by $1.6B
EPS$5.80Miss by $1.27
Revenue estimate$18.7B
EPS estimate$7.07

Next report

Oct 20, 2026 (In 2 weeks)
Revenue estimate$20.4B
EPS estimate$7.54

Financials

Q4 2025

Income statement

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Revenue$20.3B+9.1%
Gross profit$2.3B+237%
Operating income$2.3B+235%
Net income$1.3B+155%
EPS (diluted)$5.80+157%

Balance sheet

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Cash & equivalents$4.1B+66.0%
Total debt$22.8B+6.3%
Total equity$6.7B+6.1%
Total assets$59.8B+7.6%

Cash flow

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Operating cash flow$3.2B+215%
CapEx$463.0M-20.4%
Free cash flow$2.8B+525%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$111.92B-2.8%
Enterprise value$130.57B-2.6%
P/E22.3×+0.7×
P/S1.5×-0.1×

Profitability

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Gross margin10.2%+0.4pp
Operating margin10.3%+0.4pp
Net margin6.7%-0.8pp
FCF margin9.4%+2.0pp

Returns & leverage

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Return on equity76.9%-4.2pp
Debt / equity3.4×0.0×
Current ratio1.1×0.0×

Segments

By geography

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Europe$2.7B+10.3%
Asia Pacific$2.2B+30.9%
Middle East$770.0M+1.0%
Other$605.0M+64.9%

By segment

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Aeronautics$8.5B+6.4%
RMS$4.6B+8.3%
MFC$4.0B+17.8%

By product

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Services$3.1B-1.9%

FAQ

When did Lockheed Martin report Q4 2025 earnings?
Lockheed Martin (LMT) reported Q4 2025 earnings on January 29, 2026 before market open.
What were Lockheed Martin's Q4 2025 revenue and EPS?
Lockheed Martin reported revenue of $20.3B and eps of $5.80 for Q4 2025.
Did Lockheed Martin beat estimates in Q4 2025?
Revenue beat the consensus estimate of $18.7B by $1.6B. EPS missed the consensus estimate of $7.07 by $1.27.
How did Lockheed Martin's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.1% from $18.6B a year earlier and eps declined 24.4% from $7.67.
Where can I find Lockheed Martin's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001628280-26-003970) and the 10-K periodic report (0001628280-26-004195) directly on SEC EDGAR. The filing index links above go to sec.gov.