Net Profit Margin
since 2005
Calculation
Lockheed Martin Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net earnings1 | ÷ | Sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.69% | = | 100 | × | 5,017) | ÷ | 75,048) |
| Dec 31, 2024 | 7.51% | = | 100 | × | 5,336) | ÷ | 71,043) |
| Dec 31, 2023 | 10.24% | = | 100 | × | 6,920) | ÷ | 67,571) |
| Dec 31, 2022 | 8.69% | = | 100 | × | 5,732) | ÷ | 65,984) |
| Dec 31, 2021 | 9.42% | = | 100 | × | 6,315) | ÷ | 67,044) |
| Dec 31, 2020 | 10.45% | = | 100 | × | 6,833) | ÷ | 65,398) |
| Dec 31, 2019 | 10.42% | = | 100 | × | 6,230) | ÷ | 59,812) |
| Dec 31, 2018 | 9.39% | = | 100 | × | 5,046) | ÷ | 53,762) |
| Dec 31, 2017 | 3.92% | = | 100 | × | 2,002) | ÷ | 51,048) |
| Dec 31, 2016 | 11.22% | = | 100 | × | 5,302) | ÷ | 47,248) |
| Dec 31, 2015 | 7.81% | = | 100 | × | 3,605) | ÷ | 46,132) |
| Dec 31, 2014 | 7.93% | = | 100 | × | 3,614) | ÷ | 45,600) |
| Dec 31, 2013 | 6.57% | = | 100 | × | 2,981) | ÷ | 45,358) |
| Dec 31, 2012 | 5.82% | = | 100 | × | 2,745) | ÷ | 47,182) |
| Dec 31, 2011 | 5.71% | = | 100 | × | 2,655) | ÷ | 46,499) |
| Dec 31, 2010 | 6.39% | = | 100 | × | 2,926) | ÷ | 45,803) |
| Dec 31, 2009 | 6.69% | = | 100 | × | 3,024) | ÷ | 45,189) |
| Dec 31, 2008 | 7.53% | = | 100 | × | 3,217) | ÷ | 42,731) |
| Dec 31, 2007 | 7.25% | = | 100 | × | 3,033) | ÷ | 41,862) |
| Dec 31, 2006 | 6.38% | = | 100 | × | 2,529) | ÷ | 39,620) |
| Dec 31, 2005 | 4.90% | = | 100 | × | 1,825) | ÷ | 37,213) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The net profit margin exhibited considerable fluctuation over the period from 2005 to 2025. Initially, the margin demonstrated an upward trajectory, followed by periods of decline and subsequent recovery. A detailed examination reveals distinct phases in its performance.
- Initial Growth (2005-2008)
- From 2005 to 2008, the net profit margin increased steadily, rising from 4.90% to a peak of 7.53%. This indicates improving profitability during this period, potentially driven by efficient cost management or increased pricing power.
- Period of Stability and Decline (2009-2011)
- Following 2008, the net profit margin experienced a period of relative stability, followed by a decline. It decreased from 7.53% in 2008 to 5.71% in 2011. This suggests that while the company maintained profitability, its ability to convert sales into profit was diminishing.
- Fluctuation and Peak (2012-2016)
- The years 2012 through 2016 were characterized by significant volatility. The net profit margin rose to 7.93% in 2014, then peaked at 11.22% in 2015, before experiencing a substantial drop to 3.92% in 2016. This period likely reflects the impact of specific contracts, project costs, or one-time events affecting profitability.
- Recovery and High Performance (2017-2019)
- A strong recovery was observed from 2017 to 2019. The net profit margin increased from 3.92% to 10.42% in 2019, indicating a return to robust profitability. This improvement could be attributed to successful cost control measures, favorable contract terms, or increased operational efficiency.
- Recent Years and Current Status (2020-2025)
- From 2020 through 2025, the net profit margin remained relatively high, fluctuating between 9.42% and 10.45% before decreasing to 6.69% in 2025. While generally strong, the recent decline suggests potential emerging challenges to maintaining profitability. The margin in 2025 is lower than the peak observed in 2019, but still above the levels seen in the earlier part of the analyzed period.
Overall, the net profit margin demonstrates a complex pattern of growth, decline, and recovery. While the company has generally been profitable throughout the period, its ability to consistently translate sales into net earnings has varied considerably. The recent decline in 2025 warrants further investigation to determine the underlying causes and potential implications for future performance.
Comparison to Competitors
Lockheed Martin Corp., net profit margin, long-term trends, comparison to competitors
| Lockheed Martin Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.69% | 2.50% | — | — | 20.57% | — | — |
| Dec 31, 2024 | 7.51% | -17.77% | 17.59% | 15.25% | 18.67% | 14.82% | 5.91% |
| Dec 31, 2023 | 10.24% | -2.86% | 16.18% | 13.87% | 14.68% | 15.43% | 4.64% |
| Dec 31, 2022 | 8.69% | -7.41% | 11.85% | 11.86% | 0.31% | 14.00% | 7.75% |
| Dec 31, 2021 | 9.42% | -6.75% | 13.47% | 10.92% | -9.17% | 16.11% | 6.00% |
| Dec 31, 2020 | 10.45% | -20.42% | 7.68% | 7.90% | 7.81% | 14.64% | -6.22% |
| Dec 31, 2019 | 10.42% | -0.83% | 12.00% | 10.34% | -5.69% | 16.73% | 7.19% |
| Dec 31, 2018 | 9.39% | 10.34% | 11.86% | 9.93% | -19.69% | 16.18% | 7.92% |
| Dec 31, 2017 | 3.92% | 8.78% | 1.77% | 14.63% | -5.11% | 4.08% | 7.61% |
| Dec 31, 2016 | 11.22% | 5.18% | -0.19% | 9.73% | 8.00% | 12.24% | 8.83% |
| Dec 31, 2015 | 7.81% | 5.39% | 4.76% | 9.49% | -5.79% | 12.36% | 13.56% |
| Dec 31, 2014 | 7.93% | 6.00% | 7.09% | 7.95% | 14.27% | 10.52% | 9.55% |
| Dec 31, 2013 | 6.57% | 5.29% | 7.19% | 8.44% | 12.99% | 10.05% | 9.14% |
| Dec 31, 2012 | 5.82% | 4.77% | 9.01% | 7.46% | 13.62% | 7.77% | 8.89% |
| Dec 31, 2011 | 5.71% | 5.85% | 8.59% | 8.41% | 14.97% | 5.66% | 8.56% |
| Dec 31, 2010 | 6.39% | 5.14% | 6.77% | 6.77% | 11.59% | 6.06% | 8.05% |
| Dec 31, 2009 | 6.69% | 1.92% | 3.03% | 3.23% | 10.62% | 6.97% | 7.30% |
| Dec 31, 2008 | 7.53% | 4.39% | 7.40% | 6.88% | 15.44% | 7.64% | 8.08% |
| Dec 31, 2007 | 7.25% | 6.14% | 8.44% | 7.63% | 22.31% | 7.07% | 7.83% |
| Dec 31, 2006 | 6.38% | 3.60% | 9.10% | 7.68% | 20.68% | 6.64% | 7.92% |
| Dec 31, 2005 | 4.90% | 4.69% | 8.39% | 7.24% | 17.66% | 5.98% | 7.26% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Lockheed Martin Corp., net profit margin, long-term trends, comparison to sector (capital goods)
| Lockheed Martin Corp. | Capital Goods | |
|---|---|---|
| Dec 31, 2025 | 6.69% | — |
| Dec 31, 2024 | 7.51% | 6.65% |
| Dec 31, 2023 | 10.24% | 9.09% |
| Dec 31, 2022 | 8.69% | 5.27% |
| Dec 31, 2021 | 9.42% | 3.71% |
| Dec 31, 2020 | 10.45% | 1.85% |
| Dec 31, 2019 | 10.42% | 5.03% |
| Dec 31, 2018 | 9.39% | 2.99% |
| Dec 31, 2017 | 3.92% | 3.41% |
| Dec 31, 2016 | 11.22% | 7.61% |
| Dec 31, 2015 | 7.81% | 4.69% |
| Dec 31, 2014 | 7.93% | 9.51% |
| Dec 31, 2013 | 6.57% | 8.78% |
| Dec 31, 2012 | 5.82% | 8.73% |
| Dec 31, 2011 | 5.71% | 9.04% |
| Dec 31, 2010 | 6.39% | 7.93% |
| Dec 31, 2009 | 6.69% | 6.61% |
| Dec 31, 2008 | 7.53% | 9.45% |
| Dec 31, 2007 | 7.25% | 11.53% |
| Dec 31, 2006 | 6.38% | 10.82% |
| Dec 31, 2005 | 4.90% | 9.72% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Lockheed Martin Corp., net profit margin, long-term trends, comparison to industry (industrials)
| Lockheed Martin Corp. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 6.69% | — |
| Dec 31, 2024 | 7.51% | 8.06% |
| Dec 31, 2023 | 10.24% | 8.32% |
| Dec 31, 2022 | 8.69% | 5.04% |
| Dec 31, 2021 | 9.42% | 5.85% |
| Dec 31, 2020 | 10.45% | 0.09% |
| Dec 31, 2019 | 10.42% | 4.11% |
| Dec 31, 2018 | 9.39% | 4.75% |
| Dec 31, 2017 | 3.92% | 5.79% |
| Dec 31, 2016 | 11.22% | 7.43% |
| Dec 31, 2015 | 7.81% | 6.48% |
| Dec 31, 2014 | 7.93% | 8.76% |
| Dec 31, 2013 | 6.57% | 8.23% |
| Dec 31, 2012 | 5.82% | 7.39% |
| Dec 31, 2011 | 5.71% | 8.26% |
| Dec 31, 2010 | 6.39% | 7.48% |
| Dec 31, 2009 | 6.69% | 5.76% |
| Dec 31, 2008 | 7.53% | 7.27% |
| Dec 31, 2007 | 7.25% | 9.56% |
| Dec 31, 2006 | 6.38% | 14.87% |
| Dec 31, 2005 | 4.90% | 3.55% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).