Last 48 quarters of trend data · Industrials · Aerospace & Defense
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Lockheed Martin Corporation's quarterly P/E stands at 23.9x, up 57.7% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 54.2% YoY to 17.0x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.84 | 23.91 | 20.85 | 17.53 | 78.53 | 15.16 | 54.72 | 21.41 | 17.05 | 17.80 | 14.95 | 15.37 | 17.32 |
| — | +57.7% | -61.9% | -18.1% | +360.6% | -14.8% | +266.1% | +39.3% | -1.6% | -0.8% | -9.0% | -0.2% | -80.8% | |
| P/S Ratio | 1.57 | 1.97 | 1.38 | 1.52 | 1.48 | 1.45 | 1.55 | 2.03 | 1.54 | 1.60 | 1.48 | 1.53 | 1.74 |
| — | +36.6% | -10.8% | -24.9% | -4.2% | -9.5% | +4.6% | +32.5% | -11.5% | -20.3% | -10.7% | -7.1% | -3.5% | |
| P/B Ratio | 17.68 | 19.00 | 16.69 | 18.36 | 20.14 | 15.54 | 18.19 | 19.30 | 18.12 | 16.53 | 16.32 | 11.16 | 12.61 |
| — | +22.3% | -8.2% | -4.9% | +11.1% | -5.9% | +11.4% | +72.9% | +43.8% | +31.4% | +20.3% | +21.9% | +29.0% | |
| P/FCF | 17.09 | — | 10.17 | 8.48 | — | 27.19 | 65.29 | 16.68 | 18.58 | 21.86 | 16.79 | 10.24 | 37.77 |
| — | — | -84.4% | -49.2% | — | +24.4% | +288.9% | +62.9% | -50.8% | -8.5% | -34.0% | +2.0% | +38.8% | |
| EV / EBITDA | 16.07 | 17.04 | 11.61 | 12.20 | 27.85 | 11.05 | 28.78 | 15.33 | 12.83 | 13.29 | 11.75 | 12.26 | 13.20 |
| — | +54.2% | -59.7% | -20.4% | +117.1% | -16.9% | +144.9% | +25.0% | -2.8% | -6.6% | -7.4% | +1.5% | -0.2% | |
| EV / EBIT | 17.55 | 17.04 | 17.81 | 14.86 | 46.23 | 13.28 | 42.45 | 17.84 | 14.56 | 15.13 | 13.29 | 13.39 | 14.62 |
| — | +28.3% | -58.0% | -16.7% | +217.5% | -12.3% | +219.3% | +33.2% | -0.4% | -1.2% | -8.3% | +1.4% | -77.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Lockheed Martin Corporation's operating margin was 11.4% in Q1 2026, down 0.0 pp QoQ and down 1.8 pp YoY. The trailing four-quarter average of 9.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 10.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.2% | 11.5% | 11.4% | 12.0% | 4.0% | 12.9% | 3.7% | 12.4% | 12.2% | 11.6% | 12.2% | 12.1% | 12.5% |
| — | -10.8% | +208.2% | -2.7% | -67.0% | +11.6% | -69.5% | +2.0% | -2.3% | -14.3% | +0.3% | -5.1% | -1.1% | |
| Operating Margin | 10.3% | 11.4% | 11.5% | 12.3% | 4.1% | 13.2% | 3.7% | 12.5% | 11.9% | 11.8% | 12.1% | 12.1% | 12.8% |
| — | -13.3% | +206.8% | -2.1% | -65.2% | +11.9% | -69.2% | +3.4% | -7.3% | -12.4% | +0.6% | -7.1% | +1.0% | |
| Net Margin | 6.7% | 8.3% | 6.6% | 8.7% | 1.9% | 9.5% | 2.8% | 9.5% | 9.1% | 9.0% | 9.9% | 10.0% | 10.1% |
| — | -13.4% | +133.6% | -8.3% | -79.2% | +6.1% | -71.4% | -4.9% | -10.1% | -19.5% | -1.8% | -6.9% | +403.4% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 76.9% | 20.9% | 20.8% | 28.1% | 5.7% | 26.3% | 7.8% | 24.3% | 25.6% | 22.9% | 23.2% | 18.2% | 17.8% |
| — | -20.4% | +167.5% | +15.9% | -77.8% | +14.8% | -66.4% | +33.4% | +43.8% | +28.3% | +28.6% | +19.7% | +517.4% | |
| ROA | 8.7% | 2.5% | 2.2% | 2.7% | 0.6% | 3.0% | 0.9% | 2.9% | 3.0% | 2.9% | 3.4% | 3.0% | 3.0% |
| — | -18.0% | +136.0% | -7.4% | -80.2% | +6.0% | -72.3% | -1.0% | -1.0% | -8.5% | -6.2% | -13.5% | +403.4% | |
| ROIC | 23.9% | 10.3% | 7.1% | 6.8% | 2.2% | 7.2% | 2.2% | 6.9% | 7.0% | 6.6% | 7.5% | 6.6% | 7.0% |
| — | +42.6% | +223.3% | -2.5% | -68.4% | +9.4% | -70.6% | +4.7% | +0.0% | -2.7% | -5.8% | -13.4% | -2.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Lockheed Martin Corporation's Debt/EBITDA ratio is 0.1x, down from 7.8x last quarter — comfortably within a safe range. The current ratio has improved 5.5% YoY to 1.14x, strengthening the short-term liquidity position. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.23 | 0.02 | 3.23 | 3.59 | 4.06 | 3.04 | 3.20 | 2.68 | 3.12 | 2.92 | 2.55 | 1.88 | 1.90 |
| — | -99.3% | +0.9% | +33.8% | +30.1% | +4.0% | +25.3% | +43.1% | +64.2% | +80.6% | +52.2% | +95.4% | +86.4% | |
| Debt / EBITDA | 2.57 | 0.08 | 7.77 | 8.19 | 18.86 | 7.33 | 17.55 | 7.64 | 7.68 | 8.16 | 6.43 | 7.27 | 7.11 |
| — | -98.9% | -55.7% | +7.3% | +145.6% | -10.1% | +172.8% | +5.0% | +8.1% | +23.5% | +13.0% | +55.3% | +40.3% | |
| Current Ratio | 1.09 | 1.14 | 1.09 | 1.13 | 0.98 | 1.08 | 1.13 | 1.30 | 1.24 | 1.30 | 1.21 | 1.36 | 1.36 |
| — | +5.5% | -3.4% | -13.4% | -20.7% | -17.0% | -7.1% | -3.9% | -8.7% | -0.5% | -8.3% | +5.8% | +6.9% | |
| Quick Ratio | 0.94 | 0.94 | 0.94 | 0.97 | 0.83 | 0.91 | 0.95 | 1.12 | 1.07 | 1.11 | 1.03 | 1.16 | 1.16 |
| — | +4.0% | -1.1% | -13.9% | -22.5% | -18.5% | -7.8% | -3.6% | -7.6% | +1.1% | -8.9% | +6.6% | +9.2% | |
| Interest Coverage | 6.30 | 7.67 | 6.28 | 7.78 | 2.52 | 8.60 | 2.97 | 8.49 | 8.46 | 8.20 | 9.44 | 9.24 | 10.00 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Lockheed Martin Corporation's current P/E is 23.8x. The average P/E over the last 4 quarters is 35.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Lockheed Martin Corporation's current operating margin is 10.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Lockheed Martin Corporation's business trajectory between earnings reports.