Lockheed Martin Corp
lockheedmartin.comWhat Do They Do?
Builds military aircraft, missile and defense systems, and satellites for U.S. and international government customers.
10-K for FY2025, filed Jan 29, 2026We are a global aerospace and defense technology company that builds and sustains the solutions America and its allies need to deter…View ↗
Aeronautics is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced…View ↗
MFC provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; and…View ↗
Space is engaged in the research and design, development, engineering and production of satellites, space transportation systems, and…View ↗
How Do They Make Money?
Customers pay for systems and related services through long-term government and international contracts. Most payments come as work progresses: fixed-price work is paid at milestones or against costs, contracts that repay costs plus a fee are billed monthly or twice monthly, and complex international projects often include advance and milestone payments.
10-K for FY2025, filed Jan 29, 2026Revenue Recognition – The majority of our sales are generated from long-term contracts with the U.S. Government and international customers…View ↗
Under fixed-price contracts, we agree to perform the specified work for a pre-determined price. To the extent our actual costs vary from…View ↗
Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract plus a fee up to a…View ↗
We recognize revenue as performance obligations are satisfied and the customer obtains control of the products and services. In determining…View ↗
For arrangements with the U.S. Government and FMS contracts, we generally do not begin work on contracts until funding is appropriated by…View ↗
-
10-K for FY2025, filed Jan 29, 2026
FY2025 revenue by product or service ↗
$75B
-
10-K for FY2025, filed Jan 29, 2026
$75B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Products
Recurring
10-K for FY2025, filed Jan 29, 2026 |
83%
FY2022: 84%
|
Products, FY2025
$62.7B Sources
|
Recurring |
|
Services
Recurring
10-K for FY2025, filed Jan 29, 2026 |
17%
FY2022: 16%
|
Services, FY2025
$12.4B Sources
|
Recurring |
Who Are Their Customers?
U.S. government agencies, including the military and NASA, and allied governments buy its systems and services through direct contracts or foreign military sales arranged by the U.S. Government; Lockheed Martin also works as a subcontractor on government contracts.
10-K for FY2025, filed Jan 29, 2026We are a global aerospace and defense technology company that builds and sustains the solutions America and its allies need to deter…View ↗
Our business is heavily regulated. We contract with numerous U.S. Government agencies and entities, principally all branches of the U.S.…View ↗
We are a global aerospace and defense technology company that builds and sustains the solutions America and its allies need to deter…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.
10-K for FY2025, filed Jan 29, 2026
$7.7BView ↗
10-K for FY2025, filed Jan 29, 2026
$5BView ↗
10-K for FY2025, filed Jan 29, 2026
$6.9BView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 22, 2026
Open tableView ↗
-
Jul 23, 2026
Agrees to acquire Ultra Maritime and raises its financial outlook
The release raised full-year guidance and updated sales and free-cash-flow projections.
Sources
8-K, filed Jul 23, 2026
The following guidance table contains forward-looking statements, which are based on the company's expectations at the time of this news…View ↗
Growing. Revenue grew 12% in 4 years, from $67B in FY2021 to $75B in FY2025, about 3% a year.
Who Do They Compete With?
Competes with Boeing, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX
10-K for FY2025, filed Jan 29, 2026We compete with many different companies both within and outside of the defense and aerospace industry. The Boeing Company, General…View ↗
Loading...
