Lockheed Martin Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 28, 2025	Jun '25 Jun 29, 2025	Mar '25 Mar 30, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 29, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 24, 2023	Jun '23 Jun 25, 2023	Mar '23 Mar 26, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 25, 2022	Jun '22 Jun 26, 2022	Mar '22 Mar 27, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 26, 2021	Jun '21 Jun 27, 2021	Mar '21 Mar 28, 2021
Revenue	20,321	18,609	18,155	17,963	18,622	17,104	18,122	17,195	18,874	16,878	16,693	15,126	18,991	16,583	15,446	14,964	17,729	16,028	17,029	16,258
Revenue Growth (YoY)	9.12%	8.80%	0.18%	4.47%	-1.33%	1.34%	8.56%	13.68%	-0.62%	1.78%	8.07%	1.08%	7.12%	3.46%	-9.30%	-7.96%	4.09%	-2.83%	4.99%	3.88%
Cost of Revenue	18,257	16,579	17,599	15,924	18,244	15,236	16,102	15,487	16,837	15,081	14,880	13,435	16,912	14,728	13,695	13,274	15,466	14,170	15,304	14,511
Gross Profit	2,322	2,240	734	2,323	690	2,117	2,130	1,993	2,295	2,048	2,090	2,046	2,302	2,120	1,956	1,909	2,422	2,302	2,151	2,186
Other Operating Expenses	258	210	310	284	312	249	284	285	442	251	277	355	323	265	205	219	444	444	426	511
Total Operating Expenses	258	210	310	284	312	249	284	285	442	251	277	355	323	265	205	219	444	444	426	511
Operating Income	2,331	2,280	748	2,372	696	2,140	2,148	2,029	2,293	2,042	2,135	2,037	2,293	2,159	1,963	1,933	2,455	2,294	2,192	2,182
Interest Expense	-290	-286	-274	-268	-264	-256	-261	-255	-254	-237	-223	-202	-202	-145	-141	-135	-146	-141	-142	-140
Other Non-Operating Income (Expense)	-501	-16	155	177	93	57	49	65	104	142	139	150	108	46	-1,485	239	181	-1,482	-27	165
Total Non-Operating Income (Expense)	-791	-302	-119	-91	-171	-199	-212	-190	-150	-95	-84	-52	-94	-99	-1,626	104	35	-1,623	-169	25
Pretax Income	1,531	1,938	417	2,036	519	1,918	1,948	1,835	2,145	1,953	2,006	1,994	2,190	2,099	330	2,061	2,490	679	2,170	2,211
Provision for Income Taxes	187	319	75	324	-8	295	307	290	279	269	325	305	278	321	21	328	441	65	355	374
Net Income	1,344	1,619	342	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778	309	1,733	2,049	614	1,815	1,837
Net Income to Common	1,344	1,619	342	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778	309	1,733	2,049	614	1,815	1,837
Net Income Growth	155.03%	-0.25%	-79.16%	10.81%	-71.76%	-3.62%	-2.38%	-8.53%	-2.41%	-5.29%	444.01%	-2.54%	-6.69%	189.58%	-82.97%	-5.66%	14.34%	-63.84%	11.62%	6.99%
Shares Outstanding (Basic)	231	232	234	234	236	238	239	241	245	249	253	255	257	264	266	268	273	276	277	279
Shares Outstanding (Diluted)	232	233	234	235	237	239	240	242	246	250	254	256	258	265	267	269	274	277	278	280
Shares Change (YoY)	-2.15%	-2.43%	-2.21%	-2.61%	-3.70%	-4.64%	-5.52%	-5.51%	-4.72%	-5.62%	-4.91%	-5.01%	-5.83%	-4.40%	-4.20%	-3.86%	-2.38%	-1.18%	-0.85%	-0.92%
EPS (Basic)	5.82	6.98	1.46	7.30	2.23	6.83	6.87	6.42	7.61	6.75	6.65	6.63	7.44	6.73	1.16	6.46	7.50	2.22	6.54	6.58
EPS (Diluted)	5.80	6.95	1.46	7.28	2.22	6.80	6.85	6.39	7.58	6.73	6.63	6.61	7.40	6.71	1.16	6.44	7.47	2.21	6.52	6.56
EPS Growth	161.26%	2.21%	-78.69%	13.93%	-70.71%	1.04%	3.32%	-3.33%	2.43%	0.30%	471.55%	2.64%	-0.94%	203.62%	-82.21%	-1.83%	17.09%	-63.47%	12.61%	7.90%
Free Cash Flow	2,756	3,347	-150	955	441	2,083	1,506	1,257	1,661	2,527	771	1,270	1,235	2,728	1,027	1,142	3,661	1,621	950	1,467
Free Cash Flow Growth	524.94%	60.68%	-	-24.02%	-73.45%	-17.57%	95.33%	-1.02%	34.49%	-7.37%	-24.93%	11.21%	-66.27%	68.29%	8.11%	-22.15%	237.42%	10.12%	-48.34%	-27.41%
Free Cash Flow Per Share	11.88	14.38	-0.64	4.06	1.86	8.73	6.29	5.20	6.75	10.10	3.04	4.97	4.78	10.29	3.85	4.24	13.35	5.85	3.41	5.24
Dividends Per Share	3.450	3.300	3.300	3.300	3.300	3.150	3.150	3.150	3.150	3.000	3.000	3.000	3.000	2.800	2.800	2.800	2.800	2.600	2.600	2.600
Dividend Growth	4.54%	4.76%	4.76%	4.76%	4.76%	5.00%	5.00%	5.00%	5.00%	7.14%	7.14%	7.14%	7.14%	7.69%	7.69%	7.69%	7.69%	8.33%	8.33%	8.33%
Gross Margin	11.43%	12.04%	4.04%	12.93%	3.71%	12.38%	11.75%	11.59%	12.16%	12.13%	12.52%	13.53%	12.12%	12.78%	12.66%	12.76%	13.66%	14.36%	12.63%	13.45%
Operating Margin	11.47%	12.25%	4.12%	13.20%	3.74%	12.51%	11.85%	11.80%	12.15%	12.10%	12.79%	13.47%	12.07%	13.02%	12.71%	12.92%	13.85%	14.31%	12.87%	13.42%
Profit Margin	6.61%	8.70%	1.88%	9.53%	2.83%	9.49%	9.06%	8.99%	9.89%	9.98%	10.07%	11.17%	10.07%	10.72%	2.00%	11.58%	11.56%	3.83%	10.66%	11.30%
FCF Margin	13.56%	17.99%	-0.83%	5.32%	2.37%	12.18%	8.31%	7.31%	8.80%	14.97%	4.62%	8.40%	6.50%	16.45%	6.65%	7.63%	20.65%	10.11%	5.58%	9.02%
EBITDA	2,794	2,708	1,147	2,769	1,155	2,530	2,507	2,380	2,714	2,392	2,469	2,362	2,732	2,452	2,306	2,262	2,820	2,623	2,526	2,518
EBITDA Margin	13.75%	14.55%	6.32%	15.42%	6.20%	14.79%	13.83%	13.84%	14.38%	14.17%	14.79%	15.62%	14.39%	14.79%	14.93%	15.12%	15.91%	16.37%	14.83%	15.49%
EBIT	2,331	2,280	748	2,372	696	2,140	2,148	2,029	2,293	2,042	2,135	2,037	2,293	2,159	1,963	1,933	2,455	2,294	2,192	2,182
EBIT Margin	11.47%	12.25%	4.12%	13.20%	3.74%	12.51%	11.85%	11.80%	12.15%	12.10%	12.79%	13.47%	12.07%	13.02%	12.71%	12.92%	13.85%	14.31%	12.87%	13.42%
Effective Tax Rate	12.21%	16.46%	17.99%	15.91%	-1.54%	15.38%	15.76%	15.80%	13.01%	13.77%	16.20%	15.30%	12.69%	15.29%	6.36%	15.91%	17.71%	9.57%	16.36%	16.92%

Updated Jan 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q