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Lockheed Martin Corp.
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
Lower valuation, weak fundamentals
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3 of 5 met · composite in line with peers
Business quality, valuation against the sector, and position in the 52-week range — whether they line up or not.
Stable quality
Profitability
3/4
Debt & liquidity
2/3
Efficiency
1/2
Capital efficiency at LMT runs well ahead of the sector: ROE of 76.9% sits +127% above the sector median of 33.8%, and ROIC of 28.3% exceeds the median by +57%. FCF yield of 6.3% is +118% above the sector median of 2.9%, which means the cash return on the current price is real and not a function of accounting. Operating margin of 10.3%, however, trails the sector median of 16.5% by -38% — a gap that sits in tension with the strong capital returns and reflects the cost structure of a large defense contractor. The F-Score of 6/9 signals stable quality without a clear directional shift. Consensus models earnings growth ahead of the realized three-year CAGR per SEC filings — a mismatch worth holding in mind — yet the beat rate over eight quarters has been strong, so the company has historically cleared the bar analysts set.
| Ticker | Name | F-Score | ROE | Revenue YoY | Op. margin |
|---|---|---|---|---|---|
| BA | Boeing | 6/9 | 289% | +34% |
Quarter-by-quarter classification · a retrospective read by the current logic · not a price forecast
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice. The method did not see these quarters in real time; this is the current logic applied to past reports.
When Q3 2026 results land on October 19, track whether operating margin moves closer to the sector median of roughly 26.8%. LMT currently sits 38% below that median at 16.5%, so any sequential improvement — or further compression — is the clearest signal of execution quality to monitor.
Pull LMT's most recent annual report on SEC EDGAR and focus on the segment-level contract disclosures and pension liability discussion. With ROE at 33.8% and ROIC at 18.0%, understanding how much of that return is driven by leverage versus operational efficiency is essential context before drawing conclusions.
From the same-sector table in section 06, pick two or three companies yourself and line up one metric — P/B, ROIC, or FCF yield. LMT's P/B of 8.03× runs 2.6× above the sector median, so placing it alongside peers you select will show whether that premium is common across defense-oriented industrials or specific to this name.
Steps you can check yourself, based on the figures in this brief.
Piotroski F-Score: nine binary tests of financial strength from the annual report. A ✓ marks a test passed, a dot (·) a test failed.
Over 4 years: -20%+2%-15%+31%
Over 4 years: 1.581.742.292.18
Over 4 years: -2%+2%+5%+6%
The context on the right shows how each figure compares with the sector median. The trend below tracks the change over recent fiscal years.
Beat consensus in 5 of 8 recent quarters — a mixed record.
Last quarter's EPS against consensus, plus the estimated date of the next report.
| 5% |
| CAT | Caterpillar | 6/9 | 44% | +4% | 16% |
| CSX | CSX | 4/9 | 23% | -3% | 32% |
| DE | Deere | 5/9 | 21% | -12% | — |
| EMR | Emerson Electric | 7/9 | 11% | +3% | — |
| ETN | Eaton | 6/9 | 22% | +10% | — |
| GD | General Dynamics | 8/9 | 18% | +10% | 10% |
| GE | GE Aerospace | 5/9 | 46% | +18% | — |
| HON | Honeywell | 6/9 | 29% | +8% | 22% |
| ITW | Illinois Tool Works | 6/9 | 94% | +1% | 26% |
| LMT | Lockheed Martin Corp. | 6/9 | 77% | +6% | 10% |
| MMM | 3M | 5/9 | 76% | +2% | 19% |
| RTX | RTX | 7/9 | 11% | +10% | 10% |
| UNP | Union Pacific | 7/9 | 40% | +1% | 40% |
| UPS | UPS | 4/9 | 34% | -3% | 9% |
A sample of 15 companies in the sector including the target, alphabetical, unranked. Data from the latest SEC annual reports.
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
A simplified retrospective read: no analyst forecast (not available historically); the source is the annual report as of the date, so neighbouring quarters can rest on the same data. Quarters with the same classification in a row are merged into one row — each row is one change in the read, not a separate quarter. One ticker is an illustration of the classification logic, not statistics. How we calculate →