Free cash flow
Lockheed Martin Free cash flow decreased by 17.7% to $2.76B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 524.9%, from $441.00M to $2.76B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a -2.7% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $950.00M | $1.62B | $3.66B | $1.14B | $1.03B | $2.73B | $1.24B | $1.27B | $771.00M | $2.53B | $1.66B | $1.26B | $1.51B | $2.08B | $441.00M | $955.00M | -$150.00M | $3.35B | $2.76B |
| QoQ Change | — | +70.6% | +125.8% | -68.8% | -10.1% | +165.6% | -54.7% | +2.8% | -39.3% | +227.8% | -34.3% | -24.3% | +19.8% | +38.3% | -78.8% | +116.6% | -115.7% | >999% | -17.7% |
| YoY Change | — | — | — | — | +8.1% | +68.3% | -66.3% | +11.2% | -24.9% | -7.4% | +34.5% | -1.0% | +95.3% | -17.6% | -73.4% | -24.0% | -110.0% | +60.7% | +524.9% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Lockheed Martin's free cash flow?
- Lockheed Martin (LMT) reported free cash flow of $2.76B in Q4 2025.
- How has Lockheed Martin's free cash flow changed year-over-year?
- Lockheed Martin's free cash flow increased by 524.9% year-over-year, from $441.00M to $2.76B.
- What is the long-term trend for Lockheed Martin's free cash flow?
- Over 4 years (2021 to 2025), Lockheed Martin's free cash flow has grown at a -2.7% compound annual growth rate (CAGR), from $7.70B to $6.91B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.