Lockheed Martin Corporation (LMT) P/E Ratio History
Historical price-to-earnings valuation from 1995 to 2026
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LMT Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Lockheed Martin Corporation (LMT) trades at a price-to-earnings ratio of 23.7x, with a stock price of $509.02 and trailing twelve-month earnings per share of $20.74.
The current P/E is 17% above its 5-year average of 20.2x. Over the past five years, LMT's P/E has ranged from a low of 15.0x to a high of 29.8x, placing the current valuation at the 80th percentile of its historical range.
Compared to the Industrials sector median P/E of 25.7x, LMT is roughly in line with its sector peers. The sector includes 416 companies with P/E ratios ranging from 0.0x to 183.1x.
Relative to the broader market, LMT trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our LMT DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
LMT P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $233B | 34.9 | - | +40% | |
| $79B | 19.2 | 2.17 | +3% | |
| $94B | 22.6 | 3.21 | +13% | |
| $177B | 90.5 | - | +114%Best | |
| $57B | 35.5 | 3.38 | +8% | |
| $13B | 21.2 | - | +10% | |
| $67B | 37.1 | 1.19 | +25% | |
| $23B | 56.6 | 3.44 | +34% | |
| $17B | 12.3 | 0.60Best | +21% | |
| $13B | 10.5Lowest | 0.65 | +58% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
LMT Historical P/E Data (1995–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | Sun Mar 29 2026 00:00:00 GM | $615.84 | $20.65 | 29.8x | +56% |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $483.67 | $21.49 | 22.5x | +18% |
| FY2025 Q3 | Sun Sep 28 2025 00:00:00 GM | $487.44 | $17.91 | 27.2x | +42% |
| FY2025 Q2 | Sun Jun 29 2025 00:00:00 GM | $458.59 | $17.76 | 25.8x | +35% |
| FY2025 Q1 | Sun Mar 30 2025 00:00:00 GM | $441.49 | $23.15 | 19.1x | -0% |
| FY2024 Q4 | $485.94 | $22.26 | 21.8x | +14% | |
| FY2024 Q3 | Sun Sep 29 2024 00:00:00 GM | $582.36 | $27.62 | 21.1x | +10% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $467.10 | $27.55 | 17.0x | -11% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $454.87 | $27.33 | 16.6x | -13% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $453.24 | $27.55 | 16.5x | -14% |
| FY2023 Q3 | Sun Sep 24 2023 00:00:00 GM | $413.65 | $27.37 | 15.1x | -21% |
| FY2023 Q2 | Sun Jun 25 2023 00:00:00 GM | $459.36 | $27.35 | 16.8x | -12% |
Average P/E for displayed period: 19.1x
Full LMT Stock Analysis
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Start ComparisonLMT — Frequently Asked Questions
Quick answers to the most common questions about buying LMT stock.
Is LMT stock overvalued or undervalued?
LMT trades at 23.7x P/E, near its 5-year average of 20.2x. The 80th percentile ranking places valuation within normal historical bounds.
How does LMT's valuation compare to peers?
Lockheed Martin Corporation P/E of 23.7x compares to sector median of 25.7x. The discount suggests lower growth expectations or higher risk.
What is LMT's PEG ratio?
LMT PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1995-2026.