Lockheed Martin Corporation (LMT)财务
NYSE · Industrials · Aerospace & Defense · 员工123,000人 · CEO James D. Taiclet Jr.
- 股价
- $636.95 -1.03%
- 市值
- $1470亿
- 企业价值
- $1620亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-02-04 EPS预期 $8.40
营收(TTM)$791亿+7.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)11.8%+3.5 百分点 对比去年同期营业利润 $93.2亿
净利润(TTM)$65.1亿+55.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$83.8亿+82.5% 对比去年同期资本支出 $17.3亿
稀释EPS(TTM)$28.15+57.2% 对比去年同期最近4个季度之和
净现金-$145亿+22.3% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1470亿 EV $1620亿
- 营收
- $791亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 8.2% 净利润 / 营收,TTM
- P/E
- 22.5× 预期 20.8×(FY2026)
- P/S
- 1.9× 股价 / 营收,TTM
- EV / EBITDA
- 15.4× TTM
- 自由现金流
- $83.8亿 过去12个月
- 净利润
- $65.1亿 过去12个月
- 营收预期
- $814亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $226亿
- 股息
- $13.80 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-22):营收超预期1.1%,EPS 超预期6.0%营收$207亿,预期$205亿(+1.1%);EPS $7.97,预期$7.52(+6.0%)。
- 营收增长加速:同比11.3%Q3 '26营收$207亿,此前四个季度的平均值为7.2%。
- 营业利润率11.8%(TTM),较去年同期+3.5 百分点营收增长7.9%,营业利润增长52.8%。
- 税前利润的21.7%被营业外亏损吞噬税前利润$76.6亿,营业利润$93.2亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.2%(去年为2.4%)最近4个季度投入$17.3亿(同比-2.1%)。自由现金流$83.8亿,相当于净利润的128.7%。
- 股东回报$39.6亿 = 自由现金流的47.2%回购$7.5亿(去年为$32.5亿),股息$32.1亿,股权激励$3.58亿(TTM)。
- 稀释股数一年内减少0.6%Q3 '26稀释股数2.32亿,一年前为2.33亿。
- 净债务 $145亿现金 + 短期投资 $59.6亿,含租赁债务 $205亿;一年前净债务 $187亿。
上一季度:Q3 '26
截至2026-09-27的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $207亿 | $186亿 | +11.3% |
| 毛利率 | 11.8% | 12.0% | -0.3 百分点 |
| 营业利润 | $24.4亿 | $22.8亿 | +7.1% |
| 营业利润率 | 11.8% | 12.3% | -0.5 百分点 |
| 净利润 | $18.5亿 | $16.2亿 | +14.0% |
| 稀释EPS | $7.97 | $6.95 | +14.7% |
| 经营现金流 | $34.4亿 | $37.3亿 | -7.8% |
| 资本支出 | $4.39亿 | $3.81亿 | +15.2% |
| 自由现金流 | $30亿 | $33.5亿 | -10.4% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $8900万 | $7400万 | +20.3% |
实际 vs 一致预期
2026-10-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $207亿 | $205亿 | +1.1% |
| EPS(一致预期口径) | $7.97 | $7.52 | +6.0% |
来自2026-10-22发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Aeronautics | $82.1亿 | +13.2% | 39.7% | $392亿 | – | |
| Rotary and Mission Systems | $45.1亿 | +3.2% | 21.8% | $215亿 | – | |
| Missiles And Fire Control | $45亿 | +24.2% | 21.7% | $197亿 | – | |
| Space | $34.9亿 | +3.8% | 16.8% | $169亿 | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $144亿 | – | 69.3% | – | – | |
| Europe | $27.8亿 | +38.2% | 13.4% | $130亿 | – | |
| Asia Pacific | $22.2亿 | +10.6% | 10.7% | $99.4亿 | – | |
| Middle East | $7亿 | +10.6% | 3.4% | $34.1亿 | – | |
| Other Region | $6.65亿 | +25.0% | 3.2% | $32.5亿 | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Aeronautics | – | – | $7.43亿 | +8.9% | – | 9.4% | $29亿 |
| Missiles And Fire Control | – | – | $6.31亿 | +23.7% | – | 14.1% | $22.6亿 |
| Rotary And Mission Systems | – | – | $5.24亿 | +3.6% | – | 11.6% | $18.5亿 |
| Space | – | – | $3.31亿 | 0.0% | – | 9.9% | $12.6亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $101亿
- 资本支出
- -$17.3亿
- 股票回购
- -$7.5亿
- 股息
- -$32.1亿
- 收购
- $0
- 债务净发行
- -$30.1亿
- 股权激励费用
- $3.58亿
- 自由现金流
- $83.8亿
- 股东回报 / FCF
- 47.2%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 22.5× | 19.7× | 15.6× – 22.4× |
| EV / EBITDA | 15.4× | 14.0× | 11.2× – 16.2× |
| EV / 营收 | 2.0× | 1.8× | 1.6× – 2.1× |
| 股价 / FCF | 17.6× | 18.0× | 12.8× – 21.9× |
| 股价 / 净资产 | 14.6× | 14.9× | 9.0× – 18.3× |
| FCF收益率 | 5.7% | 5.8% | 4.6% – 7.8% |
| 投入资本回报率 | 19.8% | 18.8% | 16.3% – 20.7% |
| 净资产收益率 | 78.8% | 75.9% | 57.6% – 101.2% |
分析师
一致目标价 $638.22 (+0.2%)
区间 $560.00 – $835.00 · 评级 Buy
强烈买入0
买入23
持有13
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $814亿 | +8.4% | $30.67 | +42.7% | 20.8× | 16 |
| FY2027 | $873亿 | +7.3% | $33.31 | +8.6% | 19.1× | 16 |
| FY2028 | $929亿 | +6.4% | $36.13 | +8.5% | 17.6× | 17 |
| FY2029 | $973亿 | +4.7% | $38.24 | +5.8% | 16.7× | 12 |
| FY2030 | $1010亿 | +4.2% | $41.08 | +7.4% | 15.5× | 7 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Lockheed Martin Corporation在近期10-Q / 10-K文件中标记的全部235项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $50.1亿 | $38.3亿 | +30.5% | $36.3亿 | $22.2亿 | +63.4% |
| Accrual for Environmental Loss Contingencies | $6.44亿 | $6.67亿 | -3.4% | $6.59亿 | $6.77亿 | -2.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $142亿2025-12-31 | $135亿 | +5.4% | $142亿 | $135亿 | +5.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$74.2亿 | -$81亿 | +8.4% | -$75.4亿 | -$84.5亿 | +10.8% |
| Additional Paid in Capital, Common Stock | $4.51亿 | $0 | – | $0 | $0 | – |
| Amortization of Intangible Assets | – | – | – | $2.54亿 | $2.54亿 | 0.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | – | 0 | 0 | – |
| Assets | $645亿 | $603亿 | +7.0% | $598亿 | $556亿 | +7.6% |
| Assets, Current | $310亿 | $259亿 | +19.5% | $254亿 | $218亿 | +16.1% |
| Capitalized Computer Software, Accumulated Amortization | $34亿2025-12-31 | $31亿 | +9.7% | $34亿 | $31亿 | +9.7% |
| Capitalized Computer Software, Amortization | – | – | – | $3.93亿 | $3.46亿 | +13.6% |
| Capitalized Computer Software, Net | $24.2亿2025-12-31 | $18.7亿 | +29.5% | $24.2亿 | $18.7亿 | +29.5% |
| Capitalized Contract Cost, Impairment Loss | $0 | $0 | – | $0 | $0 | – |
| Capitalized Contract Cost, Net | $19亿 | $17亿 | +11.8% | $15亿 | $15亿 | 0.0% |
| Cash and Cash Equivalents, at Carrying Value | $59.6亿 | $34.7亿 | +71.8% | $41.2亿 | $24.8亿 | +66.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $59.6亿 | $34.7亿 | +71.8% | $41.2亿 | $24.8亿 | +66.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $21.7亿 | $21.8亿 | -0.4% | $16.4亿 | $10.4亿 | +57.3% |
| Commercial Paper, at Carrying Value | $02025-12-31 | $0 | – | $0 | $0 | – |
| Common Stock, Dividends, Per Share, Cash Paid | $3.45 | $3.30 | +4.5% | $13.35 | $12.75 | +4.7% |
| Common Stock, Dividends, Per Share, Declared | $3.45 | $3.30 | +4.5% | $13.35 | $12.75 | +4.7% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 15亿2025-12-31 | 15亿 | 0.0% | 15亿 | 15亿 | 0.0% |
| Common Stock, Shares, Issued | 2.3亿2025-12-31 | 2.35亿 | -2.1% | 2.3亿 | 2.35亿 | -2.1% |
| Common Stock, Shares, Outstanding | 2.29亿2025-12-31 | 2.34亿 | -2.1% | 2.29亿 | 2.34亿 | -2.1% |
| Common Stock, Value, Issued | $2.3亿 | $2.3亿 | 0.0% | $2.29亿 | $2.34亿 | -2.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $18.9亿 | $16.7亿 | +13.1% | $59.3亿 | $56.9亿 | +4.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $169亿 | $139亿 | +21.1% | $130亿 | $130亿 | +0.3% |
| Contract with Customer, Liability, Current | $126亿 | $103亿 | +23.2% | $114亿 | $98亿 | +16.8% |
| Contract with Customer, Liability, Revenue Recognized | $10亿 | $10亿 | 0.0% | $63亿 | $59亿 | +6.8% |
| Cost of Revenue | $183亿 | $164亿 | +11.6% | $674亿 | $641亿 | +5.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.11亿 | $13.5亿 | -69.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.22亿 | $1.2亿 | +1.7% |
| Debt and Equity Securities, Realized Gain (Loss) | – | – | – | $2.53亿 | $1.7亿 | +48.8% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $12亿 | $12亿 | 0.0% | $12.1亿 | $12.9亿 | -5.7% |
| Debt Securities, Trading, and Equity Securities, FV-NI | $20亿2025-12-31 | $18亿 | +11.1% | $20亿 | $18亿 | +11.1% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $3.74亿 | -$6.04亿 | +161.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$200万 | $1600万 | -112.5% |
| Deferred Income Tax Assets, Net | $18.2亿 | $34.1亿 | -46.7% | $29.8亿 | $35.6亿 | -16.4% |
| Deferred Income Tax Expense (Benefit) | $5.76亿 | $6.33亿 | -9.0% | $3.72亿 | -$5.88亿 | +163.3% |
| Deferred Tax Assets, in Process Research and Development | $12亿2025-12-31 | $16.4亿 | -27.0% | $12亿 | $16.4亿 | -27.0% |
| Deferred Tax Assets, Net | $29.6亿2025-12-31 | $35.3亿 | -16.3% | $29.6亿 | $35.3亿 | -16.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $47.3亿2025-12-31 | $50.9亿 | -7.0% | $47.3亿 | $50.9亿 | -7.0% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $2.69亿2025-12-31 | $8300万 | +224.1% | $2.69亿 | $8300万 | +224.1% |
| Deferred Tax Assets, Other | $3.43亿2025-12-31 | $5.28亿 | -35.0% | $3.43亿 | $5.28亿 | -35.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $7.64亿2025-12-31 | $7.41亿 | +3.1% | $7.64亿 | $7.41亿 | +3.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | $9.99亿2025-12-31 | $11.8亿 | -15.6% | $9.99亿 | $11.8亿 | -15.6% |
| Deferred Tax Assets, Valuation Allowance | $6000万2025-12-31 | $4100万 | +46.3% | $6000万 | $4100万 | +46.3% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $5.8亿2025-12-31 | $5.45亿 | +6.4% | $5.8亿 | $5.45亿 | +6.4% |
| Deferred Tax Liabilities, Net | $17.8亿2025-12-31 | $15.5亿 | +14.2% | $17.8亿 | $15.5亿 | +14.2% |
| Deferred Tax Liabilities, Other | $6.83亿2025-12-31 | $6.38亿 | +7.1% | $6.83亿 | $6.38亿 | +7.1% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $5.12亿2025-12-31 | $3.71亿 | +38.0% | $5.12亿 | $3.71亿 | +38.0% |
| Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | – | – | – | -$9.43亿 | – | – |
| Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits | – | – | – | $4.79亿 | – | – |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $9300万 | $1.11亿 | -16.2% | – | – | – |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | – | – | – | -$4.79亿 | $0 | – |
| Defined Benefit Plan, Plan Assets, Amount | $246亿2025-12-31 | $241亿 | +2.1% | $246亿 | $241亿 | +2.1% |
| Defined Benefit Plan, Plan Assets, Contributions by Employer | $0 | $0 | – | – | – | – |
| Defined Contribution Plan, Cost | – | – | – | $13亿 | $12亿 | +8.3% |
| Depreciation | – | – | – | $10亿 | $9.67亿 | +3.4% |
| Depreciation, Amortization and Accretion, Net | $4.25亿 | $4.28亿 | -0.7% | $16.9亿 | $15.6亿 | +8.2% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-27, 10-Q 2026-06-28, 10-Q 2026-03-29, 10-K 2025-12-31, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-31, 10-Q 2024-09-29
数据截至 2026-11-01