Lockheed Martin Corporation
LMTNYSE
$586.39
Last price · USD
- Market cap
- $136.0B
- P/E
- 27.3x
- EV / EBITDA
- 17.6x
- P/S
- 1.8x
- FCF yield
- 5.1%
- Div. yield
- 2.30%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Lockheed Martin Corporation cash flow statement
Annual · USD millions except per-share data · 29 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 5,017 | 5,336 | 6,920 | 5,732 | 6,315 | -5.6% | |
| Depreciation & amortization | 1,687 | 1,559 | 1,430 | 1,404 | 1,364 | +5.5% | |
| Deferred income tax | 372 | (588) | (498) | (757) | (183) | — | |
| Stock-based compensation | 304 | 277 | 265 | 238 | 227 | +7.6% | |
| Change in working capital | (983) | (1,664) | (194) | (585) | 54 | — | |
| Accounts receivables | (1,833) | (328) | 373 | (542) | 15 | — | |
| Inventory | (286) | (478) | (44) | (107) | 564 | — | |
| Accounts payables | 1,341 | (93) | 151 | 1,274 | (98) | — | |
| Other working capital | (205) | (765) | (674) | (1,210) | (427) | — | |
| Other non-cash items | 2,160 | 2,052 | (3) | 1,770 | 1,444 | +10.6% | |
| Net cash from operating activities | 8,557 | 6,972 | 7,920 | 7,802 | 9,221 | -1.9% | |
| Operating cash flow | 8,557 | 6,972 | 7,920 | 7,802 | 9,221 | -1.9% | |
| Investing activities | |||||||
| Investments in PP&E | (1,649) | (1,685) | (1,691) | (1,670) | (1,522) | — | |
| Capital expenditure | (1,649) | (1,685) | (1,691) | (1,670) | (1,522) | — | |
| Other investing activities | (328) | (107) | (3) | (119) | 361 | — | |
| Net cash from investing activities | (1,977) | (1,792) | (1,694) | (1,789) | (1,161) | — | |
| Financing activities | |||||||
| Net debt issuance | 1,343 | 2,802 | 1,860 | 3,961 | (500) | — | |
| Long-term net debt issuance | 1,343 | 2,802 | 1,860 | 3,961 | (500) | — | |
| Net stock issuance | (3,000) | (3,700) | (6,000) | (7,900) | (4,087) | — | |
| Common stock repurchased | (3,000) | (3,700) | (6,000) | (7,900) | (4,087) | — | |
| Net common stock issuance | (3,000) | (3,700) | (6,000) | (7,900) | (4,087) | — | |
| Common dividends paid | (3,131) | (3,059) | (3,056) | (3,016) | (2,940) | — | |
| Net dividends paid | (3,131) | (3,059) | (3,056) | (3,016) | (2,940) | — | |
| Other financing activities | (154) | (182) | (135) | (115) | (89) | — | |
| Net cash from financing activities | (4,942) | (4,139) | (7,331) | (7,070) | (7,616) | — | |
| Cash summary | |||||||
| Net change in cash | 1,638 | 1,041 | (1,105) | (1,057) | 444 | +38.6% | |
| Cash at beginning of period | 2,483 | 1,442 | 2,547 | 3,604 | 3,160 | -5.8% | |
| Cash at end of period | 4,121 | 2,483 | 1,442 | 2,547 | 3,604 | +3.4% | |
| Free cash flow | 6,908 | 5,287 | 6,229 | 6,132 | 7,699 | -2.7% | |