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Lockheed Martin LMT Free cash flow margin

Free cash flow margin at other companies

Boeing logo
BoeingBA
-11.3%+15.2pp
General Dynamics logo
General DynamicsGD
11.5%+4.7pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
9.4%+2.8pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
6.7%+0.6pp
Textron logo
TextronTXT
5.7%+1.7pp
Northrop Grumman logo
Northrop GrummanNOC
7.8%+3.4pp

Other financials

Income statement

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Revenue$18.0B+0.3%
Gross profit$2.1B-10.5%
Operating income$2.1B-13.0%
Net income$1.5B-13.1%
EPS (diluted)$6.44-11.5%

Balance sheet

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Cash & equivalents$1.9B+5.1%
Total debt$20.7B+1.9%
Total equity$7.5B+12.1%
Total assets$59.2B+4.5%

Cash flow

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Operating cash flow$220.0M-84.4%
CapEx$511.0M+12.6%
Free cash flow-$291.0M-130%

Valuation

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Market cap$122.73B+32.9%
Enterprise value$141.54B+28.2%
P/E25.6×+8.8×
P/S1.6×+0.3×

Profitability

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Gross margin9.8%-0.3pp
Operating margin9.9%-0.4pp
Net margin6.4%-1.3pp

Returns & leverage

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Return on equity67.6%-14.9pp
Debt / equity2.8×-0.3×
Current ratio1.1×+0.1×

Where this comes from

Calculated from Lockheed Martin’s reported figures.

Based on trailing twelve months.

The official record: Lockheed Martin’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lockheed Martin's free cash flow margin?
Lockheed Martin (LMT) reported free cash flow margin of 7.7% in Q1 2026.
How has Lockheed Martin's free cash flow margin changed year-over-year?
Lockheed Martin's free cash flow margin increased by 11.5% year-over-year, from 6.9% to 7.7%.
What is the long-term trend for Lockheed Martin's free cash flow margin?
Over 4 years (2021 to 2025), Lockheed Martin's free cash flow margin has grown at a -6.1% compound annual growth rate (CAGR), from 35.5% to 27.7%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.