Q3 FY26 · Ended Sep 27, 2026 · View SEC filing
Orders already booked cover years of sales
The order book runs several times FY2025 sales, so profit hinges more on execution than on winning orders.
For investorsWhat the backlog is worth at today's margins
For foundersWhy the customer funds the factory
Missiles and Fire Control earns a 14.0% margin against 9.0% at Aeronautics, and it is the segment growing fastest.
Free cash flow equalled 14.5% of sales, above the 11.8% operating margin, helped by customers who pay as work proceeds.
Lower interest, pension and tax costs added back what thinner operating margins took, so earnings per share outgrew sales.
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Business Lens describes Lockheed Martin from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
