Lockheed Martin Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	75,048	71,043	67,571	65,984	67,044
Revenue Growth (YoY)	5.64%	5.14%	2.40%	-1.58%	2.52%
Cost of Revenue	67,363	64,026	59,000	57,597	57,947
Gross Profit	7,685	7,017	8,571	8,387	9,097
Selling, General & Admin	778	-137	-499	865	1,241
Other Operating Expenses	-84	-27	12	53	35
Operating Expenses	694	-164	-487	918	1,276
Operating Income	6,991	7,181	9,058	7,469	7,821
Interest Expense	-1,118	-1,036	-916	-623	-569
Earnings From Equity Investments	28	56	40	114	97
Other Non Operating Income (Expenses)	32	84	72	-66	-28
EBT Excluding Unusual Items	5,933	6,285	8,254	6,894	7,321
Merger & Restructuring Charges	-	-	-92	-100	-36
Gain (Loss) on Sale of Investments	55	22	-64	-114	265
Asset Writedown	-66	-87	-	-	-
Pretax Income	5,922	6,220	8,098	6,680	7,550
Income Tax Expense	905	884	1,178	948	1,235
Earnings From Continuing Operations	5,017	5,336	6,920	5,732	6,315
Net Income	5,017	5,336	6,920	5,732	6,315
Net Income to Common	5,017	5,336	6,920	5,732	6,315
Net Income Growth	-5.98%	-22.89%	20.73%	-9.23%	-7.58%
Shares Outstanding (Basic)	233	238	250	264	276
Shares Outstanding (Diluted)	234	239	251	265	277
Shares Change (YoY)	-2.38%	-4.78%	-5.06%	-4.61%	-1.35%
EPS (Basic)	21.56	22.39	27.65	21.74	22.85
EPS (Diluted)	21.49	22.31	27.55	21.66	22.76
EPS Growth	-3.67%	-19.02%	27.19%	-4.83%	-6.35%
Free Cash Flow	6,908	5,287	6,229	6,132	7,699
Free Cash Flow Per Share	29.59	22.10	24.80	23.18	27.75
Dividend Per Share	13.350	12.750	12.150	11.400	10.600
Dividend Growth	4.71%	4.94%	6.58%	7.55%	8.16%
Gross Margin	10.24%	9.88%	12.68%	12.71%	13.57%
Operating Margin	9.31%	10.11%	13.41%	11.32%	11.67%
Profit Margin	6.69%	7.51%	10.24%	8.69%	9.42%
Free Cash Flow Margin	9.21%	7.44%	9.22%	9.29%	11.48%
EBITDA	8,285	8,394	10,225	8,620	9,010
EBITDA Margin	11.04%	11.82%	15.13%	13.06%	13.44%
D&A For EBITDA	1,294	1,213	1,167	1,151	1,189
EBIT	6,991	7,181	9,058	7,469	7,821
EBIT Margin	9.31%	10.11%	13.41%	11.32%	11.67%
Effective Tax Rate	15.28%	14.21%	14.55%	14.19%	16.36%
Revenue as Reported	75,048	71,043	67,571	65,984	67,044

Source: S&P Global Market Intelligence. Standard template. Financial Sources.