Lockheed Martin Corporation

Lockheed Martin Corporation

LMTยทNYSE

$512.03

-0.27%
IndustrialsAerospace & Defense

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The Aeronautics segment offers combat and air mobility aircraft, unmanned air vehicles, and related technologies. The Missiles and Fire Control segment provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support, and integration services; manned and unmanned ground vehicles; and energy management solutions. The Rotary and Mission Systems segment offers military and commercial helicopters, surface ships, sea and land-based missile defense systems, radar systems, sea and air-based mission and combat systems, command and control mission solutions, cyber solutions, and simulation and training solutions. The Space segment offers satellites; space transportation systems; strategic, advanced strike, and defensive missile systems; and classified systems and services in support of national security systems. This segment also provides network-enabled situational awareness and integrates space and ground-based systems to help its customers gather, analyze, and securely distribute critical intelligence data. It serves primarily serves the U.S. government, as well as foreign military sales contracted through the U.S. government. Lockheed Martin Corporation was founded in 1912 and is headquartered in Bethesda, Maryland.

At a Glance

Live Snapshot
Market Cap$118.06B
EPS21.5600
P/E Ratio23.75
Earnings Date07/28/2026
Lockheed Martin Corporation

Lockheed Martin Corporation Fair Value Envelope

LMT ยท NYSE

Our analysis suggests that LMT has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $512.03, this represents a potential HIDDEN relative to our calculated worth for Lockheed Martin Corporation.

Intrinsic Value
Current Price: $512.03

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$1,210.7B
+ Cash & Equivalents$4.1B
Firm Value$1,214.8B
- Debt$21.7B
Equity Value$1,193.1B
/ Shares Outstanding234,024,826B
DCF Value$5.1K
UNDERVALUED BY 896%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$11.2B
$14.6B
$19.1B
$24.9B
$32.6B
$42.6B
$55.6B
$72.7B
$95.0B
$124.1B
Maintenance CapEx
-$430.9M
-$563.0M
-$735.7M
-$961.2M
-$1.3B
-$1.6B
-$2.1B
-$2.8B
-$3.7B
-$4.8B
Owner Earnings
$10.7B
$14.0B
$18.4B
$24.0B
$31.3B
$40.9B
$53.5B
$69.9B
$91.3B
$119.3B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$10.0B
$12.0B
$14.6B
$17.6B
$21.3B
$25.8B
$31.2B
$37.8B
$45.7B
$55.3B
Terminal Value represents 77.6% of Enterprise Value