LMT Lockheed Martin Corporation
bullish · high conviction 2/6 shifts correct ↓ $530.45 -6.76 (-1.3%)The current filing reports that in 2025, international customers accounted for 36% of Aeronautics sales, 29% of Missiles and Fire Control sales, and 34% of Rotary and Mission Systems sales, with detailed programs and nations involved. Backlog at December 31, 2025 was $193.6 billion, increased from $176.0 billion at December 31, 2024. Sales and operating results for 2025 include detailed segment performance, profit booking rates, and new contracts for the F-35 program including Lots 18 and 19 finalized in 2025. This information was not available in prior filing for 2025.
The current filing uses 'sales' rather than 'net sales' seen in prior filing. The detailed breakdown of sales, operating costs and expenses, impairment charges, pension expenses, and accounting policy descriptions have been expanded with more explicit language on profit booking rates, reach-forward losses, and contract revenue recognition under percentage-of-completion cost-to-cost method, highlighting the impact of specific programs and losses recognized in 2025 compared to 2024.
The current filing provides detailed 2025 financial results: total sales of $75.0B vs prior 2024 $71.0B; operating profit $7.7B vs $7.0B; net earnings $5.0B vs $5.3B; increased backlog and funded backlog values. Debt details, interest expense, pension settlement charges, and tax effects updated with new figures. Also, changes in purchase obligations and letters of credit are specific for 2025 versus 2024.
The current filing highlights a noncash, non-operating pension settlement charge of $479 million related to the transfer of $943 million of gross defined benefit pension obligations to insurance companies in December 2025, representing a continuation of pension risk transfer activities that affect expenses and equity.
Lockheed Martin Corporation entered into a new 364-Day Revolving Credit Agreement on December 5, 2025. This agreement establishes a $3.0 billion unsecured revolving credit facility with several banks ...
Lockheed Martin Corporation entered into Amendment No. 2 to its existing $3.0 billion Revolving Credit Agreement, extending the maturity date by one year to August 24, 2030, and removing a 10 basis po...
Factor Model (net -1.4)
Factor Model
net -1.4 4.0 / 10Lockheed Martin Hits $75B Revenue, Innovates LWCLU
Watch: Watch upcoming earnings to gauge how LWCLU delivery and DARPA contracts impact revenue growth and profitability amid mixed market signals.
Lockheed Martin posted fiscal year 2025 revenue of $75.1 billion, up 5.7% year-over-year, with net income stable at $5.0 billion and a 6.7% net margin. The Javelin Joint Venture with Raytheon delivered its first Lightweight Command Launch Units on May 26, cutting unit size 30%, weight 25%, and doubling detection range. The firm depends heavily on U.S. government contracts, which account for roughly 72% of sales.
This solid financial performance combined with product innovation in missile systems signals Lockheed Martin's strong competitive positioning and ability to capitalize on defense spending growth.
Evidence
7 older signals
Fundamentals & Data ▾
full analysis
The current filing reports that in 2025, international customers accounted for 36% of Aeronautics sales, 29% of Missiles and Fire Control sales, and 34% of Rotary and Mission Systems sales, with detailed programs and nations involved. Backlog at December 31, 2025 was $193.6 billion, increased from $176.0 billion at December 31, 2024. Sales and operating results for 2025 include detailed segment performance, profit booking rates, and new contracts for the F-35 program including Lots 18 and 19 finalized in 2025. This information was not available in prior filing for 2025.
full analysis
The current filing uses 'sales' rather than 'net sales' seen in prior filing. The detailed breakdown of sales, operating costs and expenses, impairment charges, pension expenses, and accounting policy descriptions have been expanded with more explicit language on profit booking rates, reach-forward losses, and contract revenue recognition under percentage-of-completion cost-to-cost method, highlighting the impact of specific programs and losses recognized in 2025 compared to 2024.
full analysis
The current filing provides detailed 2025 financial results: total sales of $75.0B vs prior 2024 $71.0B; operating profit $7.7B vs $7.0B; net earnings $5.0B vs $5.3B; increased backlog and funded backlog values. Debt details, interest expense, pension settlement charges, and tax effects updated with new figures. Also, changes in purchase obligations and letters of credit are specific for 2025 versus 2024.
full analysis
The current filing highlights a noncash, non-operating pension settlement charge of $479 million related to the transfer of $943 million of gross defined benefit pension obligations to insurance companies in December 2025, representing a continuation of pension risk transfer activities that affect expenses and equity.
Lockheed Martin Corporation entered into a new 364-Day Revolving Credit Agreement on December 5, 2025. This agreement establishes a $3.0 billion unsecured revolving credit facility with several banks serving as agents and lenders. The credit facility is for various lawful corporate purposes, including supporting commercial paper borrowings, and matures on December 4, 2026, with an option to extend the principal balance as term loans to December 4, 2027. Interest rates are based on several options including Base Rate and Term SOFR plus specified margins. SEC↗
Lockheed Martin Corporation entered into Amendment No. 2 to its existing $3.0 billion Revolving Credit Agreement, extending the maturity date by one year to August 24, 2030, and removing a 10 basis point credit spread adjustment to Term SOFR borrowings. The amendment involves several lenders and financial institutions including JPMorgan Chase Bank, Citibank, Credit Agricole, Mizuho Bank, Wells Fargo, and Bank of America. SEC↗
Track Record (2/6 correct) ▾
Direction History
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