Lockheed Martin (LMT) Stock Buyback History
TTM buyback yield 1.64% · Shareholder yield (TTM) 1.64%.
TTM buyback yield
1.64%
Shareholder yield (TTM)
1.64%
5Y share count change
-17.5%
TTM buyback spend
$2.25B
SBC coverage (TTM)
6.88x
YoY change in spend
-18.9%
5Y CAGR of spend
+22.2%
Peak year (2022)
$7.90B
Cumulative spend
$58.76B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Lockheed Martin (LMT) repurchased about $2.25B of stock over the trailing twelve months.
- Diluted share count is down 17.5% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 6.88× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +22.2% per year over the latest 5-year window.
- TTM repurchases used about 90% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $3.00B | $304.00M | $2.70B | 0.23B | -3.1% | 2.69% |
| 2024 | $3.70B | $277.00M | $3.42B | 0.24B | -4.8% | 3.23% |
| 2023 | $6.00B | $265.00M | $5.74B | 0.25B | -5.1% | 5.40% |
| 2022 | $7.90B | $238.00M | $7.66B | 0.26B | -4.6% | 6.32% |
| 2021 | $4.09B | $227.00M | $3.86B | 0.28B | -1.4% | 4.21% |
| 2020 | $1.10B | $221.00M | $879.00M | 0.28B | -0.9% | 1.11% |
| 2019 | $1.20B | $189.00M | $1.01B | 0.28B | -1.0% | 1.10% |
| 2018 | $1.49B | $173.00M | $1.32B | 0.29B | -1.3% | 2.01% |
| 2017 | $2.00B | $158.00M | $1.84B | 0.29B | -4.1% | 2.18% |
| 2016 | $2.10B | $149.00M | $1.95B | 0.30B | -3.7% | 2.87% |
| 2015 | $3.07B | $138.00M | $2.93B | 0.31B | -2.4% | 4.62% |
| 2014 | $1.90B | $164.00M | $1.74B | 0.32B | -1.3% | 3.13% |
| 2013 | $1.76B | $189.00M | $1.57B | 0.33B | -0.6% | 3.71% |
| 2012 | $990.00M | $167.00M | $823.00M | 0.33B | -3.4% | 3.32% |
| 2011 | $2.46B | $141.00M | $2.32B | 0.34B | -7.7% | 9.45% |
| 2010 | $2.42B | $168.00M | $2.25B | 0.37B | -5.3% | 9.81% |
| 2009 | $1.85B | $154.00M | $1.70B | 0.39B | -5.0% | 6.51% |
| 2008 | $2.93B | $155.00M | $2.78B | 0.41B | -4.1% | 8.81% |
| 2007 | $2.13B | $149.00M | $1.98B | 0.43B | -2.1% | 4.90% |
| 2006 | $2.12B | $0.00 | $2.12B | 0.44B | -2.1% | 5.46% |
| 2005 | $1.31B | $0.00 | $1.31B | 0.45B | -0.3% | 4.75% |
| 2004 | $673.00M | $0.00 | $673.00M | 0.45B | -0.6% | 2.76% |
| 2003 | $482.00M | $0.00 | $482.00M | 0.45B | -0.4% | 2.13% |
| 2002 | $50.00M | $0.00 | $50.00M | 0.45B | 4.5% | 0.19% |
| 2001 | $0.00 | $0.00 | $0.00 | 0.43B | 7.5% | — |
| 2000 | $0.00 | $0.00 | $0.00 | 0.40B | 4.3% | — |
| 1999 | $0.00 | $0.00 | $0.00 | 0.39B | 1.2% | — |
| 1998 | $51.00M | $0.00 | $51.00M | 0.38B | 2.8% | — |
| 1997 | $1.57B | $0.00 | $1.57B | 0.37B | -16.3% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 0.44B | — | — |
| 1995 | $150.00M | $0.00 | $150.00M | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1992 | $266.00M | $0.00 | $266.00M | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Lockheed Martin (LMT) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Lockheed Martin (LMT)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Lockheed Martin (LMT)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $3.00B | -18.9% | -$700.00M | ||
| 2024 | $3.70B | -38.3% | -$2.30B | ||
| 2023 | $6.00B | -24.1% | -$1.90B | ||
| 2022 | $7.90B | +93.3% | +$3.81B | ||
| 2021 | $4.09B | +271.5% | +$2.99B | ||
| 2020 | $1.10B | -8.3% | -$100.00M | ||
| 2019 | $1.20B | -19.6% | -$292.00M | ||
| 2018 | $1.49B | -25.4% | -$509.00M | ||
| 2017 | $2.00B | -4.5% | -$95.00M | ||
| 2016 | $2.10B | -31.7% | -$975.00M | ||
| 2015 | $3.07B | +61.6% | +$1.17B | ||
| 2014 | $1.90B | +7.8% | +$138.00M | ||
| 2013 | $1.76B | +78.0% | +$772.00M | ||
| 2012 | $990.00M | -59.8% | -$1.48B | ||
| 2011 | $2.46B | +1.9% | +$45.00M | ||
| 2010 | $2.42B | +30.7% | +$569.00M | ||
| 2009 | $1.85B | -36.8% | -$1.08B | ||
| 2008 | $2.93B | +37.8% | +$804.00M | ||
| 2007 | $2.13B | +0.6% | +$12.00M | ||
| 2006 | $2.12B | +61.5% | +$805.00M | ||
| 2005 | $1.31B | +94.7% | +$637.00M | ||
| 2004 | $673.00M | +39.6% | +$191.00M | ||
| 2003 | $482.00M | +864.0% | +$432.00M | ||
| 2002 | $50.00M | — | +$50.00M | ||
| 2001 | $0 | — | $0 | ||
| 2000 | $0 | — | $0 | ||
| 1999 | $0 | -100.0% | -$51.00M | ||
| 1998 | $51.00M | -96.8% | -$1.52B | ||
| 1997 | $1.57B | — | +$1.57B | ||
| 1996 | $0 | -100.0% | -$150.00M | ||
| 1995 | $150.00M | — | +$150.00M | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | -100.0% | -$266.00M | ||
| 1992 | $266.00M | — | — |
Lockheed Martin (LMT) most recent annual buyback spend stands at $3.00B (2025) – declined 18.9% year-over-year.
Lockheed Martin buyback spend compound annual growth for the 2020–2025 (5 years) window is +22.2%, with the latest reading among the more recent periods of the dataset.
Lockheed Martin buyback spend peaked at $7.90B in 2022; the latest annual figure is $3.00B in 2025 (62.0% below peak).
The highest annual buyback spend of $7.90B was reported in 2022. The lowest in the available history was $0 in 1993.
Among 8 Industrials peers, Lockheed Martin (LMT) ranks 4th; the peer median for buyback spend is $2.27B.
Lockheed Martin Buyback Spend 2025: $3.00B
Lockheed Martin buyback spend in 2025 was $3.00B, declined 18.9% below 2024.
Lockheed Martin Buyback Spend 2024: $3.70B
Lockheed Martin buyback spend in 2024 was $3.70B, plunged 38.3% below 2023.
Lockheed Martin Buyback Spend 2023: $6.00B
Lockheed Martin buyback spend in 2023 was $6.00B, declined 24.1% below 2022.
Lockheed Martin Buyback Spend 2022: $7.90B
Lockheed Martin buyback spend in 2022 was $7.90B, surged 93.3% from 2021. This figure represents the highest annual value in the available history.
Lockheed Martin Buyback Spend 2021: $4.09B
Lockheed Martin buyback spend in 2021 was $4.09B.
See more financial history for Lockheed Martin (LMT).
Sector peers by buyback spend
Companies in the same sector as Lockheed Martin, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| GE Aerospace (GE) | $7.55B | Industrials |
| Caterpillar (CAT) | $5.19B | Industrials |
| Honeywell International (HON) | $3.80B | Industrials |
| Union Pacific (UNP) | $2.68B | Industrials |
| Eaton Corporation (ETN) | $1.86B | Industrials |
| Deere & Company (DE) | $1.14B | Industrials |
| RTX (RTX) | $50.00M | Industrials |
| Boeing (BA) | $0 | Industrials |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 6.88×.
Capital allocation mix
How Lockheed Martin splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $2.51B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Lockheed Martin's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Lockheed Martin buy back its own stock?
Yes, Lockheed Martin (LMT) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Lockheed Martin spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $2.25B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Lockheed Martin's buyback yield?
TTM buyback yield is about 1.64% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Lockheed Martin's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 1.64% combined (TTM-based where available).
Is Lockheed Martin diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Lockheed Martin's share count changed?
Diluted weighted average shares changed by about -17.5% over roughly five fiscal years (annual income statement data).
What is Lockheed Martin's buyback spend?
Latest reported buyback spend for Lockheed Martin (LMT) is $2.25B (period ending March 29, 2026).
How has Lockheed Martin buyback spend changed year-over-year?
Lockheed Martin (LMT) buyback spend changed -18.9% year-over-year on the latest annual filing.
What is the long-term growth rate of Lockheed Martin buyback spend?
Lockheed Martin (LMT) buyback spend compound annual growth rate is +22.2% over the most recent 5 years available.
When did Lockheed Martin buyback spend hit its highest annual value?
Lockheed Martin buyback spend reached its highest annual value of $7.90B in 2022.
What was Lockheed Martin buyback spend in 2024?
Lockheed Martin (LMT) buyback spend in 2024 was $3.70B.
What was Lockheed Martin buyback spend in 2025?
Lockheed Martin (LMT) buyback spend in 2025 was $3.00B.
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