Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.3B | $50.0B | $53.8B | $59.8B | $65.4B | $67.0B | $66.0B | $67.6B | $71.0B | $75.0B |
| Revenue growth | — | 5.6% | 7.6% | 11.3% | 9.3% | 2.5% | -1.6% | 2.4% | 5.1% | 5.6% |
| Gross profit | $5.40B | $6.37B | $7.27B | $8.37B | $8.65B | $9.06B | $8.29B | $8.48B | $6.93B | $7.62B |
| Gross margin | 11.4% | 12.8% | 13.5% | 14.0% | 13.2% | 13.5% | 12.6% | 12.5% | 9.8% | 10.2% |
| Operating income | $5.89B | $6.74B | $7.33B | $8.54B | $8.64B | $9.12B | $8.35B | $8.51B | $7.01B | $7.73B |
| Operating margin | 12.5% | 13.5% | 13.6% | 14.3% | 13.2% | 13.6% | 12.7% | 12.6% | 9.9% | 10.3% |
| Net income | $5.17B | $1.96B | $5.05B | $6.23B | $6.83B | $6.32B | $5.73B | $6.92B | $5.34B | $5.02B |
| Net margin | 10.9% | 3.9% | 9.4% | 10.4% | 10.4% | 9.4% | 8.7% | 10.2% | 7.5% | 6.7% |
| EPS (diluted) | $17.07 | $6.75 | $17.59 | $21.95 | $24.30 | $22.76 | $21.66 | $27.55 | $22.31 | $21.49 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.19B | $6.48B | $3.14B | $7.31B | $8.18B | $9.22B | $7.80B | $7.92B | $6.97B | $8.56B |
| Capital expenditures | $1.06B | $1.18B | $1.28B | $1.48B | $1.77B | $1.52B | $1.67B | $1.69B | $1.69B | $1.65B |
| Free cash flow | $4.13B | $5.30B | $1.86B | $5.83B | $6.42B | $7.70B | $6.13B | $6.23B | $5.29B | $6.91B |
| Share buybacks | $2.10B | $2.00B | $1.49B | $1.20B | $1.10B | $4.09B | $7.90B | $6.00B | $3.70B | $3.00B |
| Dividends paid | $2.05B | $2.16B | $2.35B | $2.56B | $2.76B | $2.94B | $3.02B | $3.06B | $3.06B | $3.13B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.84B | $2.86B | $772M | $1.51B | $3.16B | $3.60B | $2.55B | $1.44B | $2.48B | $4.12B |
| Total assets | $47.8B | $46.6B | $44.9B | $47.5B | $50.7B | $50.9B | $52.9B | $52.5B | $55.6B | $59.8B |
| Total liabilities | $46.2B | $47.4B | $43.4B | $44.4B | $44.7B | $39.9B | $43.6B | $45.6B | $49.3B | $53.1B |
| Long-term debt | $14.3B | $13.5B | $12.6B | $11.4B | $11.7B | $11.7B | $15.4B | $17.3B | $19.6B | $20.5B |
| Shareholders' equity | $1.51B | -$850M | $1.39B | $3.13B | $6.01B | $11.0B | $9.27B | $6.83B | $6.33B | $6.72B |
| Retained earnings | $13.3B | $11.4B | $15.4B | $18.4B | $21.6B | $21.6B | $16.9B | $15.4B | $14.6B | $14.0B |
| Shares (wtd avg diluted) | 303M | 291M | 287M | 284M | 281M | 277M | 265M | 251M | 239M | 234M |
Every figure is extracted from LOCKHEED MARTIN CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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