Lockheed Martin (LMT) Releases Q4 2025 Earnings: Revenue and EPS Beat, Strong Cash Flow

Lockheed Martin Corporation ($LMT) reported fourth-quarter 2025 results.

Key income statement highlights:

Revenue of $20.3 billion, up 9.12% year‑over‑year (consensus estimate: $20.05 billion).

Gross profit of $2.32 billion, up 236.52% year‑over‑year.

Operating profit of $2.33 billion, up 234.91% year‑over‑year.

Net income attributable to common shareholders of $1.34 billion, up 155.03% year‑over‑year.

Diluted earnings per share of $5.80, up 161.26% year‑over‑year (estimate: $5.76).

Cost and margin context:

Cost of sales of $18.3 billion, essentially flat year‑over‑year (+0.07%), supporting meaningful margin expansion given the jump in gross profit.

Cash flow and balance sheet highlights:

Cash from operating activities of $3.22 billion, up 214.66% year‑over‑year.

Purchases of property, plant and equipment of $463 million, down 20.45% year‑over‑year.

Cash and cash equivalents of $4.12 billion, up 65.97% year‑over‑year.

Total liabilities of $53.1 billion, up 7.78% year‑over‑year.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Lockheed Martin Corporation Insider Trading Activity

Lockheed Martin Corporation insiders have traded $LMT stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $LMT stock by insiders over the last 6 months:

JOHN FRANK A ST (Chief Operating Officer) has made 0 purchases and 3 sales selling 7,792 shares for an estimated $3,826,166.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Lockheed Martin Corporation Hedge Fund Activity

We have seen 1,097 institutional investors add shares of Lockheed Martin Corporation stock to their portfolio, and 1,296 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MARSHALL WACE, LLP removed 814,191 shares (-89.1%) from their portfolio in Q3 2025, for an estimated $406,452,289
CITADEL ADVISORS LLC added 812,785 shares (+598.0%) to their portfolio in Q3 2025, for an estimated $405,750,399
DEUTSCHE BANK AG\ added 751,622 shares (+127.4%) to their portfolio in Q3 2025, for an estimated $375,217,218
FMR LLC removed 689,786 shares (-23.5%) from their portfolio in Q3 2025, for an estimated $344,348,069
QUBE RESEARCH & TECHNOLOGIES LTD removed 689,549 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $344,229,756
CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 676,346 shares (+8.6%) to their portfolio in Q3 2025, for an estimated $337,638,686
BALYASNY ASSET MANAGEMENT L.P. added 659,730 shares (+5633.9%) to their portfolio in Q3 2025, for an estimated $329,343,813

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Lockheed Martin Corporation Government Contracts

We have seen $38,862,820,562 of award payments to $LMT over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

THE PURPOSE OF THIS CONTRACT IS TO AWARD LONG LEAD FUNDING FOR F-35A, F-35B, AND F-35C AIRCRAFT FOR U.S. SE...: $14,153,976,413
EXECUTE PHASED ARRAY TRACKING RADAR TO INTERCEPT ON TARGET (PATRIOT) ADVANCED CAPABILITY-3 (PAC-3) MISSILE ...: $2,074,081,351
SUPPORT EQUIPMENT, AUTONOMIC LOGISTICS INFORMATION SYSTEM HARDWARE, TRAINING SYSTEMS, SITE ACTIVATIONS, INT...: $2,028,124,527
LONG RANGE ANTI-SHIP MISSILE/JOINT AIR-TO-SURFACE STANDOFF MISSILE LARGE LOT PROCUREMENT: $1,959,575,027
CH-53K FRP LOT 9 AND OPTION FRP LOT 10 LONG LEAD ITEMS: $1,938,131,721

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Lockheed Martin Corporation Congressional Stock Trading

Members of Congress have traded $LMT stock 4 times in the past 6 months. Of those trades, 2 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $LMT stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 3 times. They made 2 purchases worth up to $30,000 on 11/18, 08/05 and 1 sale worth up to $15,000 on 12/19.
REPRESENTATIVE VAL T. HOYLE sold up to $15,000 on 09/23.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Lockheed Martin Corporation Analyst Ratings

Wall Street analysts have issued reports on $LMT in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Truist Securities issued a "Buy" rating on 01/09/2026
Morgan Stanley issued a "Overweight" rating on 10/15/2025
Susquehanna issued a "Positive" rating on 10/09/2025
Baird issued a "Outperform" rating on 10/06/2025

To track analyst ratings and price targets for Lockheed Martin Corporation, check out Quiver Quantitative's $LMT forecast page.

Lockheed Martin Corporation Price Targets

Multiple analysts have issued price targets for $LMT recently. We have seen 10 analysts offer price targets for $LMT in the last 6 months, with a median target of $547.5.

Here are some recent targets:

Gavin Parsons from UBS set a target price of $580.0 on 01/15/2026
John Godyn from Citigroup set a target price of $592.0 on 01/13/2026
Sheila Kahyaoglu from Jefferies set a target price of $540.0 on 01/12/2026
Michael Ciarmoli from Truist Securities set a target price of $605.0 on 01/09/2026
Seth Seifman from JP Morgan set a target price of $515.0 on 12/19/2025
Kristine Liwag from Morgan Stanley set a target price of $543.0 on 12/16/2025
Douglas Harned from Bernstein set a target price of $545.0 on 10/20/2025