Lockheed Martin Corporation (LMT)
NYSE: LMT · Real-Time Price · USD
567.08
-9.08 (-1.58%)
At close: Nov 6, 2026, 4:00 PM EST
569.50
+2.42 (0.43%)
After-hours: Nov 6, 2026, 7:57 PM EST
Lockheed Martin Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Net Income | 6,513 | 6,287 | 4,793 | 5,017 | 4,200 | 4,204 | 5,503 | 5,336 | 6,675 | 6,736 | 6,776 | 6,920 | 6,966 | 7,060 | 5,688 | 5,732 | 5,869 | 4,705 | 6,211 | 6,315 |
Depreciation & Amortization | 1,293 | 1,296 | 1,295 | 1,294 | 1,337 | 1,299 | 1,259 | 1,213 | 1,258 | 1,218 | 1,193 | 1,167 | 1,195 | 1,138 | 1,147 | 1,151 | 1,155 | 1,191 | 1,182 | 1,189 |
Other Amortization | 393 | 393 | 393 | 393 | 346 | 346 | 346 | 346 | 263 | 263 | 263 | 263 | 253 | 253 | 253 | 253 | 175 | 175 | 175 | 175 |
Asset Writedown & Restructuring Costs | - | - | 66 | 66 | 66 | 66 | 87 | 87 | 179 | 179 | 92 | 92 | 100 | 100 | 100 | 100 | - | - | - | 36 |
Stock-Based Compensation | 358 | 343 | 327 | 304 | 263 | 264 | 276 | 277 | 273 | 273 | 269 | 265 | 264 | 250 | 241 | 238 | 233 | 234 | 234 | 227 |
Other Operating Activities | 824 | 910 | 1,801 | 1,297 | 1,562 | 835 | -584 | -124 | -428 | -638 | -698 | -971 | -905 | -768 | 512 | 913 | 1,310 | 2,629 | 1,405 | 1,225 |
Change in Accounts Receivable | -2,202 | -1,192 | -1,745 | -1,833 | -1,907 | -1,939 | -729 | -328 | -450 | -402 | -535 | -492 | -1,193 | -1,281 | -1,115 | -2,281 | 147 | -1,118 | -1,535 | -1,019 |
Change in Inventory | -238 | -712 | -888 | -286 | -834 | -974 | -457 | -478 | 25 | 401 | 193 | -44 | -199 | -67 | -327 | -107 | -210 | -312 | 112 | 564 |
Change in Accounts Payable | 1,185 | 1,250 | 883 | 1,341 | 581 | 355 | 286 | -93 | -610 | -194 | 235 | 151 | 1,171 | 1,149 | 662 | 1,274 | 1,083 | 681 | 708 | -98 |
Change in Unearned Revenue | 2,385 | 2,290 | 934 | 1,219 | 782 | 254 | 630 | 605 | 1,115 | 997 | 409 | 702 | -123 | 107 | 434 | 381 | 544 | 698 | 647 | 562 |
Change in Income Taxes | -399 | -463 | -491 | -255 | -35 | 361 | 129 | 131 | 14 | -66 | -206 | -133 | -46 | -216 | 245 | 148 | 103 | 330 | 61 | 45 |
Change in Other Net Operating Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 116 | - | -267 | -267 | -317 | - |
Operating Cash Flow | 10,112 | 10,402 | 7,368 | 8,557 | 6,361 | 5,071 | 6,746 | 6,972 | 8,314 | 8,767 | 7,991 | 7,920 | 7,483 | 7,725 | 7,956 | 7,802 | 10,142 | 8,946 | 8,883 | 9,221 |
Operating Cash Flow Growth (YoY) | 58.97% | 105.13% | 9.22% | 22.73% | -23.49% | -42.16% | -15.58% | -11.97% | 11.11% | 13.49% | 0.44% | 1.51% | -26.22% | -13.65% | -10.44% | -15.39% | 50.03% | 33.46% | 16.62% | 12.68% |
Investing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Capital Expenditures | -1,731 | -1,673 | -1,706 | -1,649 | -1,768 | -1,742 | -1,761 | -1,685 | -1,807 | -1,816 | -1,775 | -1,691 | -1,680 | -1,721 | -1,696 | -1,670 | -1,584 | -1,495 | -1,509 | -1,522 |
Other Investing Activities | -142 | -49 | -382 | -328 | -534 | -451 | -89 | -107 | 150 | -29 | -32 | -3 | -119 | -78 | -101 | -119 | 61 | 140 | 266 | 361 |
Investing Cash Flow | -1,873 | -1,722 | -2,088 | -1,977 | -2,302 | -2,193 | -1,850 | -1,792 | -1,657 | -1,845 | -1,807 | -1,694 | -1,799 | -1,799 | -1,797 | -1,789 | -1,523 | -1,355 | -1,243 | -1,161 |
Financing Activities
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Long-Term Debt Issued | - | - | - | 1,985 | - | - | - | 2,970 | - | - | - | 1,975 | - | - | - | 6,211 | - | - | - | - |
Total Debt Issued | - | 536 | 1,985 | 1,985 | 2,975 | 2,439 | 990 | 2,970 | 1,980 | 1,980 | 3,955 | 1,975 | 5,919 | 5,919 | 6,211 | 6,211 | 2,267 | 2,267 | - | - |
Long-Term Debt Repaid | - | - | - | -642 | - | - | - | -168 | - | - | - | -115 | - | - | - | -2,250 | - | - | - | -500 |
Total Debt Repaid | -1,668 | -1,668 | -1,642 | -642 | -142 | -142 | -168 | -168 | -168 | -283 | -115 | -115 | -115 | - | -2,250 | -2,250 | -2,250 | -2,750 | -500 | -500 |
Net Debt Issued (Repaid) | -1,668 | -1,132 | 343 | 1,343 | 2,833 | 2,297 | 822 | 2,802 | 1,812 | 1,697 | 3,840 | 1,860 | 5,804 | 5,919 | 3,961 | 3,961 | 17 | -483 | -500 | -500 |
Repurchase of Common Stock | -750 | -1,750 | -2,250 | -3,000 | -3,250 | -3,100 | -3,450 | -3,700 | -5,700 | -6,600 | -6,500 | -6,000 | -7,206 | -6,794 | -6,400 | -7,900 | -5,781 | -4,943 | -5,087 | -4,087 |
Common Dividends Paid | -3,207 | -3,176 | -3,151 | -3,131 | -3,110 | -3,094 | -3,075 | -3,059 | -3,048 | -3,046 | -3,052 | -3,056 | -3,055 | -3,047 | -3,033 | -3,016 | -3,012 | -2,991 | -2,968 | -2,940 |
Other Financing Activities | -124 | -124 | -131 | -154 | -213 | -211 | -180 | -182 | -121 | -123 | -122 | -135 | -106 | -106 | -130 | -115 | -140 | -144 | -135 | -89 |
Financing Cash Flow | -5,749 | -6,182 | -5,189 | -4,942 | -3,740 | -4,108 | -5,883 | -4,139 | -7,057 | -8,072 | -5,834 | -7,331 | -4,563 | -4,028 | -5,602 | -7,070 | -8,916 | -8,561 | -8,690 | -7,616 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Net Cash Flow | 2,490 | 2,498 | 91 | 1,638 | 319 | -1,230 | -987 | 1,041 | -400 | -1,150 | 350 | -1,105 | 1,121 | 1,898 | 557 | -1,057 | -297 | -970 | -1,050 | 444 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Free Cash Flow | 8,381 | 8,729 | 5,662 | 6,908 | 4,593 | 3,329 | 4,985 | 5,287 | 6,507 | 6,951 | 6,216 | 6,229 | 5,803 | 6,004 | 6,260 | 6,132 | 8,558 | 7,451 | 7,374 | 7,699 |
Free Cash Flow Growth (YoY) | 82.47% | 162.21% | 13.58% | 30.66% | -29.41% | -52.11% | -19.80% | -15.12% | 12.13% | 15.77% | -0.70% | 1.58% | -32.19% | -19.42% | -15.11% | -20.35% | 67.05% | 49.80% | 25.77% | 19.98% |
Free Cash Flow Margin | 10.59% | 11.33% | 7.54% | 9.21% | 6.26% | 4.63% | 6.94% | 7.44% | 9.13% | 9.78% | 8.93% | 9.22% | 8.57% | 8.91% | 9.46% | 9.29% | 13.22% | 11.61% | 11.21% | 11.48% |
Free Cash Flow Per Share | 36.23 | 37.68 | 24.36 | 29.59 | 19.56 | 14.09 | 20.98 | 22.10 | 26.97 | 28.46 | 25.10 | 24.80 | 22.82 | 23.28 | 23.96 | 23.18 | 31.85 | 27.41 | 26.84 | 27.75 |
Levered Free Cash Flow | 5,646 | 5,563 | 3,987 | 5,282 | 4,433 | 3,825 | 5,288 | 5,713 | 5,269 | 5,778 | 5,124 | 5,458 | 4,596 | 4,890 | 4,344 | 3,790 | 5,719 | 3,953 | 4,625 | 5,173 |
Unlevered Free Cash Flow | 6,326 | 6,257 | 4,687 | 5,980 | 5,115 | 4,489 | 5,944 | 6,360 | 5,910 | 6,407 | 5,729 | 6,030 | 5,136 | 5,373 | 4,775 | 4,179 | 6,074 | 4,305 | 4,978 | 5,528 |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 27, 2026 | Jun '26 Jun 28, 2026 | Mar '26 Mar 29, 2026 | 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 |
Cash Interest Paid | 1,000 | 1,000 | 1,000 | 1,000 | 950 | 950 | 950 | 950 | 832 | 832 | 832 | 832 | 573 | 573 | 573 | 573 | 543 | 543 | 543 | 543 |
Cash Income Tax Paid | 788 | 788 | 788 | 788 | 1,300 | 1,300 | 1,300 | 1,300 | 1,800 | 1,800 | 1,800 | 1,800 | 1,600 | 1,600 | 1,600 | 1,600 | 1,400 | 1,400 | 1,400 | 1,400 |
Change in Working Capital | 731 | 1,173 | -1,307 | 186 | -1,413 | -1,943 | -141 | -163 | 94 | 736 | 96 | 184 | -390 | -308 | 15 | -585 | 1,400 | 12 | -324 | 54 |