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Lockheed Martin LMT Net debt / EBITDA

Net debt / EBITDA at other companies

Boeing logo
BoeingBA
7.3×
General Dynamics logo
General DynamicsGD
-0.8×
Raytheon Technologies logo
Raytheon TechnologiesRTX
2.3×-1.2×
L3Harris Technologies logo
L3Harris TechnologiesLHX
2.1×-0.4×
Textron logo
TextronTXT
-0.7×+0.3×
Northrop Grumman logo
Northrop GrummanNOC
2.3×-0.5×

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 the most recent quarter.

The official record: Lockheed Martin’s 10-Q, filed April 22, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lockheed Martin's net debt / EBITDA?
Lockheed Martin (LMT) reported net debt / EBITDA of 2.1× in Q1 2025.
How has Lockheed Martin's net debt / EBITDA changed year-over-year?
Lockheed Martin's net debt / EBITDA increased by 24.2% year-over-year, from 1.7× to 2.1×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.