Buyback yield (TTM)
1.64%
Shareholder yield (TTM)
3.92%
5Y share count change
-17.5%
Buyback spend (TTM)
$2.25B
Cumulative buybacks
$58.76B
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.
Dividend & buyback yield over time for Lockheed Martin (LMT)
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.
Diluted vs basic shares (annual) for Lockheed Martin (LMT)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Lockheed Martin (LMT)
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.
Cash buyback spend over time for Lockheed Martin (LMT)
Latest: $3.00B
Overview
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 mixed annual results across the window.
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 $0.00 in 1993.
Lockheed Martin Buyback Spend 2025: $3.00B
2025's buyback spend for Lockheed Martin came in at $3.00B, declined 18.9% below 2024.
Lockheed Martin Buyback Spend 2024: $3.70B
Lockheed Martin posted buyback spend of $3.70B in 2024, plunged 38.3% below 2023.
Lockheed Martin Buyback Spend 2023: $6.00B
In 2023, Lockheed Martin reported buyback spend of $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).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $3.00B | $304.00M | $2.70B | 2.69% | 0.23B | -3.1% | |
| 2024 | $3.70B | $277.00M | $3.42B | 3.23% | 0.24B | -4.8% | |
| 2023 | $6.00B | $265.00M | $5.74B | 5.40% | 0.25B | -5.1% | |
| 2022 | $7.90B | $238.00M | $7.66B | 6.32% | 0.26B | -4.6% | |
| 2021 | $4.09B | $227.00M | $3.86B | 4.21% | 0.28B | -1.4% | |
| 2020 | $1.10B | $221.00M | $879.00M | 1.11% | 0.28B | -0.9% | |
| 2019 | $1.20B | $189.00M | $1.01B | 1.10% | 0.28B | -1.0% | |
| 2018 | $1.49B | $173.00M | $1.32B | 2.01% | 0.29B | -1.3% | |
| 2017 | $2.00B | $158.00M | $1.84B | 2.18% | 0.29B | -4.1% | |
| 2016 | $2.10B | $149.00M | $1.95B | 2.87% | 0.30B | -3.7% | |
| 2015 | $3.07B | $138.00M | $2.93B | 4.62% | 0.31B | -2.4% | |
| 2014 | $1.90B | $164.00M | $1.74B | 3.13% | 0.32B | -1.3% | |
| 2013 | $1.76B | $189.00M | $1.57B | 3.71% | 0.33B | -0.6% | |
| 2012 | $990.00M | $167.00M | $823.00M | 3.32% | 0.33B | -3.4% | |
| 2011 | $2.46B | $141.00M | $2.32B | 9.45% | 0.34B | -7.7% | |
| 2010 | $2.42B | $168.00M | $2.25B | 9.81% | 0.37B | -5.3% | |
| 2009 | $1.85B | $154.00M | $1.70B | 6.51% | 0.39B | -5.0% | |
| 2008 | $2.93B | $155.00M | $2.78B | 8.81% | 0.41B | -4.1% | |
| 2007 | $2.13B | $149.00M | $1.98B | 4.90% | 0.43B | -2.1% | |
| 2006 | $2.12B | $0.00 | $2.12B | 5.46% | 0.44B | -2.1% | |
| 2005 | $1.31B | $0.00 | $1.31B | 4.75% | 0.45B | -0.3% | |
| 2004 | $673.00M | $0.00 | $673.00M | 2.76% | 0.45B | -0.6% | |
| 2003 | $482.00M | $0.00 | $482.00M | 2.13% | 0.45B | -0.4% | |
| 2002 | $50.00M | $0.00 | $50.00M | 0.19% | 0.45B | +4.5% | |
| 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 | — | — | — |
- 2025$3.00B
- 2024$3.70B
- 2023$6.00B
- 2022$7.90B
- 2021$4.09B
- 2020$1.10B
- 2019$1.20B
- 2018$1.49B
- 2017$2.00B
- 2016$2.10B
- 2015$3.07B
- 2014$1.90B
- 2013$1.76B
- 2012$990.00M
- 2011$2.46B
- 2010$2.42B
- 2009$1.85B
- 2008$2.93B
- 2007$2.13B
- 2006$2.12B
- 2005$1.31B
- 2004$673.00M
- 2003$482.00M
- 2002$50.00M
- 2001$0.00
- 2000$0.00
- 1999$0.00
- 1998$51.00M
- 1997$1.57B
- 1996$0.00
- 1995$150.00M
- 1994$0.00
- 1993$0.00
- 1992$266.00M
Buybacks vs stock-based compensation for Lockheed Martin (LMT)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 6.88×.
Buybacks vs dividends (share of cash returned) for Lockheed Martin (LMT)
How Lockheed Martin splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Lockheed Martin, ranked by their latest buyback spend.
| $7.55B | |
| $5.19B | |
| $2.68B | |
| $1.86B | |
| $1.14B | |
| $1.13B | |
| $50.00M | |
| $0.00 |
- $7.55B
- $5.19B
- $2.68B
- $1.86B
- $1.14B
- $1.13B
- $50.00M
- $0.00
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).
Frequently asked questions
Data & methodology
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