NYSE · LMT
Lockheed Martin Corporation
Industrials · Aerospace & Defense
$505.41▼ 0.02% ($0.09)at close
After hours$506.98▲ 0.31%7:59 PM ET
Valuation
Cash-flow DCF
Verdict: fairly priced. Price between Bear and Base.
The price holds with free cash flow shrinking 7.6% a year for 5 years. Our scenarios assume −10.6–19.4%.
That's below its past 10-year pace of 4.4%.
Value per share
Base case
$934.54
Price used $505.41 is 46% below this
USD · TTM ending Jun 28, 2026 · Price Oct 2, 8:00 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.10) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Free cash flow each value needs
Free cash flow today $9.4B. The price needs $7.5B by 2036. Base case: $13.8B. At its recent pace: $14.4B. Bear to Bull: $6.4B to $37.7B.
Free cash flow today $9.4B. The price needs $7.5B by 2036. Base case: $13.8B. At its recent pace: $14.4B. Bear to Bull: $6.4B to $37.7B.
Free cash flow in 2036
today $9.4B
−$6.3Bless than the Base case
Value per share · Base case
$934.54
Price $505.41
46% below this
- Stage 1 growth, yrs 1–5
- 4.4%
- Stage 2 growth, yrs 6–10
- 3.5%
- Discount rate
- 7.5%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.10) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
USD · TTM ending Jun 28, 2026 · Price Oct 2, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock rose 1.21% over the last year. Revenue grew 7.21% over the trailing twelve months. Operating margin moved from 8.29% to 11.88%. Free cash flow grew 162.21% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 11.88%. A decisive move in revenue — currently up 7.21% — would be the clearest signal to resolve the ambiguity.
Return analysis
Company profile
Lockheed Martin Corporation stands as a prominent global security and aerospace enterprise, specializing in the comprehensive lifecycle of advanced technological systems.
Market multiples
Stock splits
Every 1 shares became 2
Every 100 shares became 163
Every 1 shares became 3
Profitability & growth
Analyst consensus
22
Buy
14
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Oct 20, 2026
Q3 FY26 · EPS est $7.54 · Revenue est $20.45B
View
Institutional Sentiment
Lockheed Martin Corporation · LMT
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.