What is Lockheed Martin's operating income?

Lockheed Martin (LMT) reported operating income of $2.06B in Q1 2026.

How has Lockheed Martin's operating income changed year-over-year?

Lockheed Martin's operating income decreased by 13.0% year-over-year, from $2.37B to $2.06B.

What is the long-term trend for Lockheed Martin's operating income?

Over 4 years (2021 to 2025), Lockheed Martin's operating income has grown at a -4.1% compound annual growth rate (CAGR), from $9.12B to $7.73B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Lockheed Martin LMT Operating Income

Operating Income at other companies

BoeingBA

$448M-2.8%

General DynamicsGD

$1.42B+12.0%

Raytheon TechnologiesRTX

$2.56B+25.6%

L3Harris TechnologiesLHX

$652M+24.2%

Kratos Defense & Security SolutionsKTOS

$4.7M-28.8%

Northrop GrummanNOC

$989M+72.6%

Segments

By segment

See full

Aeronautics$619M-14.0%

MFC$500M+7.5%

RMS$423M-18.8%

Space$281M-25.9%

Other financials

Income statement

See full

Revenue$18.0B+0.3%

Gross profit$2.1B-10.5%

Net income$1.5B-13.1%

EPS (diluted)$6.44-11.5%

Balance sheet

See full

Cash & equivalents$1.9B+5.0%

Total debt$20.7B+1.9%

Total equity$7.5B+12.1%

Total assets$59.2B+4.5%

Cash flow

See full

Operating cash flow$220.0M-84.4%

CapEx$511.0M+12.6%

Free cash flow-$291.0M-130%

Valuation

See full

Market cap$116.99B+8.5%

Enterprise value$135.79B+5.9%

P/E24.4×-1.2×

P/S1.6×+0.1×

Profitability

See full

Gross margin9.8%-0.3pp

Operating margin9.9%-0.4pp

Net margin6.4%-1.3pp

FCF margin7.7%+0.8pp

Returns & leverage

See full

Return on equity67.6%-14.9pp

Debt / equity2.8×-0.3×

Current ratio1.1×+0.1×

Where this comes from

Reported directly by Lockheed Martin in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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 operating income?: Lockheed Martin (LMT) reported operating income of $2.06B in Q1 2026.
How has Lockheed Martin's operating income changed year-over-year?: Lockheed Martin's operating income decreased by 13.0% year-over-year, from $2.37B to $2.06B.
What is the long-term trend for Lockheed Martin's operating income?: Over 4 years (2021 to 2025), Lockheed Martin's operating income has grown at a -4.1% compound annual growth rate (CAGR), from $9.12B to $7.73B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.