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Lockheed Martin LMT Return on invested capital

Return on invested capital at other companies

Boeing logo
BoeingBA
8.1%+4.5pp
General Dynamics logo
General DynamicsGD
14%+0.9pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
8.1%+2.9pp
L3Harris Technologies logo
L3Harris TechnologiesLHX
11.7%+1.4pp
Textron logo
TextronTXT
14%+0.8pp
Northrop Grumman logo
Northrop GrummanNOC
13.2%+2.3pp

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 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 return on invested capital?
Lockheed Martin (LMT) reported return on invested capital of 24.4% in Q1 2026.
How has Lockheed Martin's return on invested capital changed year-over-year?
Lockheed Martin's return on invested capital decreased by 6.0% year-over-year, from 26% to 24.4%.
What is the long-term trend for Lockheed Martin's return on invested capital?
Over 4 years (2021 to 2025), Lockheed Martin's return on invested capital has grown at a -15.6% compound annual growth rate (CAGR), from 186.2% to 94.4%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.