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Lockheed Martin LMT Operating margin

Operating margin at other companies

Boeing logo
BoeingBA
4.9%+2.9pp
General Dynamics logo
General DynamicsGD
10.3%0.0pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
11.2%+1.3pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
10.3%+0.9pp
Kratos Defense & Security Solutions logo
Kratos Defense & Security SolutionsKTOS
1.7%-0.8pp
Northrop Grumman logo
Northrop GrummanNOC
10.7%+0.3pp

Other financials

Income statement

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Revenue$20.1B+10.5%
Gross profit$2.4B+233%
Operating income$2.5B+231%
Net income$1.8B+437%
EPS (diluted)$7.94+444%

Balance sheet

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Cash & equivalents$3.8B+193%
Total debt$20.5B-5.1%
Total equity$8.8B+64.4%
Total assets$62.5B+6.1%

Cash flow

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Operating cash flow$3.2B+1,509%
CapEx$318.0M-9.4%
Free cash flow$2.9B

Valuation

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Market cap$134.49B+36.0%
Enterprise value$151.24B+26.8%
P/E21.4×-2.1×
P/S1.8×+0.4×

Profitability

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Gross margin11.8%+3.6pp
Net margin8.2%+2.3pp
FCF margin11.3%+6.5pp

Returns & leverage

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Return on equity89.2%+16.1pp
Debt / equity2.3×-1.7×
Current ratio1.2×+0.2×

Where this comes from

Calculated from Lockheed Martin’s reported figures.

Based on trailing twelve months.

The source filing: Lockheed Martin’s 10-Q, filed July 23, 2026. Open the filing →

Filed
Jul 23, 2026, 4:38 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-049411

FAQ

What is Lockheed Martin's operating margin?
Lockheed Martin (LMT) reported operating margin of 11.9% in Q2 2026.
How has Lockheed Martin's operating margin changed year-over-year?
Lockheed Martin's operating margin increased by 43.4% year-over-year, from 8.3% to 11.9%.
What is the long-term trend for Lockheed Martin's operating margin?
Over 5 years (2020 to 2025), Lockheed Martin's operating margin has grown at a -4.9% compound annual growth rate (CAGR), from 13.2% to 10.3%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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