Question 1

What is Lockheed Martin's P/E ratio?

Accepted Answer

Lockheed Martin (LMT) P/E ratio is 24.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Lockheed Martin?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Lockheed Martin specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

Is Lockheed Martin's P/E ratio high or low?

Accepted Answer

Lockheed Martin's P/E ratio of 24.8× is above its own 5-year average of 19.8× and below the sector median of 27.8×. That places the current reading at the 83th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Lockheed Martin's historical P/E ratio range?

Accepted Answer

In the available daily series, Lockheed Martin (LMT) P/E ratio has ranged from a low of 8.2× in 2011 to a high of 56.5× in 2003. The 5-year average is 19.8× and the 5-year median is 19.1×.

Question 7

What was Lockheed Martin's P/E ratio in 2025?

Accepted Answer

Lockheed Martin (LMT) P/E ratio at the end of 2025 was 22.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Lockheed Martin's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$112B	$5.02B	22.3×	+0.8×	Dec 31, 2025
2024	$115B	$5.34B	21.5×	+5.4×	Dec 31, 2024
2023	$111B	$6.92B	16.1×	-5.8×	Dec 31, 2023
2022	$125B	$5.73B	21.8×	+6.4×	Dec 31, 2022
2021	$97.1B	$6.32B	15.4×	+0.9×	Dec 31, 2021
2020	$99.3B	$6.83B	14.5×	-3.1×	Dec 31, 2020
2019	$110B	$6.23B	17.6×	+2.9×	Dec 31, 2019
2018	$74.1B	$5.05B	14.7×	-31.2×	Dec 31, 2018
2017	$91.8B	$2B	45.8×	+31.8×	Dec 31, 2017
2016	$72.9B	$5.2B	14.0×	-4.4×	Dec 31, 2016
2015	$66.4B	$3.61B	18.4×	+1.6×	Dec 31, 2015
2014	$60.7B	$3.61B	16.8×	+0.8×	Dec 31, 2014
2013	$47.6B	$2.98B	16.0×	+5.1×	Dec 31, 2013
2012	$29.8B	$2.75B	10.8×	+1.0×	Dec 31, 2012
2011	$26.1B	$2.66B	9.8×	+1.4×	Dec 31, 2011
2010	$24.7B	$2.93B	8.4×	-1.0×	Dec 31, 2010
2009	$28.5B	$3.02B	9.4×	-0.9×	Dec 31, 2009
2008	$33.3B	$3.22B	10.3×	-4.0×	Dec 31, 2008
2007	$43.4B	$3.03B	14.3×	-1.0×	Dec 31, 2007
2006	$38.7B	$2.53B	15.3×	+0.2×	Dec 31, 2006
2005	$27.6B	$1.83B	15.1×	-4.2×	Dec 31, 2005
2004	$24.4B	$1.27B	19.3×	-2.2×	Dec 31, 2004
2003	$22.7B	$1.05B	21.5×	-30.0×	Dec 31, 2003
2002	$25.8B	$500M	51.6×	—	Dec 31, 2002


Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
FedEx (FDX)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
Delta Air Lines (DAL)	15.5×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

P/E Ratio for Lockheed Martin (LMT) 2002-2026

P/E Ratio daily chart for Lockheed Martin (LMT)

Historical P/E Ratio for Lockheed Martin (LMT) from 2002 to 2025

About P/E Ratio at Lockheed Martin (LMT)

Lockheed Martin P/E Ratio by Year

Lockheed Martin P/E Ratio 2025: 22.3×

Lockheed Martin P/E Ratio 2024: 21.5×

Lockheed Martin P/E Ratio 2023: 16.1×

Lockheed Martin P/E Ratio 2022: 21.8×

Lockheed Martin P/E Ratio 2021: 15.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Lockheed Martin (LMT) Key Financials