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Lockheed Martin LMT Operating margin

Operating margin at other companies

Boeing logo
BoeingBA
4.6%+2.6pp
General Dynamics logo
General DynamicsGD
10.2%0.0pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
10.9%+2.7pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
10.2%+1.0pp
Northrop Grumman logo
Northrop GrummanNOC
11.6%+2.0pp
Palantir Technologies Inc. logo
Palantir Technologies Inc.PLTR
38.1%+25.1pp

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
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 operating margin?
Lockheed Martin (LMT) reported operating margin of 9.9% in Q1 2026.
How has Lockheed Martin's operating margin changed year-over-year?
Lockheed Martin's operating margin decreased by 3.5% year-over-year, from 10.2% to 9.9%.
What is the long-term trend for Lockheed Martin's operating margin?
Over 4 years (2021 to 2025), Lockheed Martin's operating margin has grown at a -8.7% compound annual growth rate (CAGR), from 53.5% to 37.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.