Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Lockheed Martin Corp., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating profit1 ÷ Sales1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 31, 2014 = 100 × ÷
Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷
Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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 operating profit margin exhibited a generally increasing trend from 2005 through 2019, followed by fluctuations in more recent years. Initial values were in the low single digits, increasing to a peak in 2019 before experiencing a decline and subsequent partial recovery.

Overall Trend (2005-2019)
From 2005 to 2019, the operating profit margin demonstrated a consistent upward trajectory. Starting at 8.02% in 2005, it rose to 14.29% in 2019. This indicates improving operational efficiency and/or increased pricing power over this period. The rate of increase was not constant, with more rapid gains observed between 2007 and 2012, and again between 2016 and 2019.
Recent Volatility (2020-2025)
Following the peak in 2019, the operating profit margin experienced a decrease to 12.65% in 2022. A significant drop was observed in 2023, falling to 9.87%. A partial recovery occurred in 2024 and 2025, with the margin reaching 10.30%. This recent volatility suggests potential challenges related to cost management, shifts in product mix, or external economic factors.
Relationship to Sales
While sales generally increased over the period, the operating profit margin did not always move in direct correlation. For example, sales increased from 2008 to 2009, but the operating profit margin decreased. Similarly, sales decreased in 2022 and 2023, but the operating profit margin experienced a more substantial decline in 2023. This decoupling suggests that factors beyond revenue volume significantly influence profitability.
Peak Performance
The highest operating profit margin was recorded in 2019 at 14.29%. This represents the most profitable year within the analyzed timeframe, indicating optimal operational performance and cost control during that period.
Lowest Performance
The lowest operating profit margin was recorded in 2023 at 9.87%. This represents the least profitable year within the analyzed timeframe, indicating potential operational challenges or increased costs during that period.

In summary, the operating profit margin demonstrates a long-term positive trend interrupted by recent fluctuations. Further investigation would be required to determine the underlying causes of the volatility observed from 2020 onwards.

Comparison to Competitors

Lockheed Martin Corp., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Lockheed Martin Corp. Boeing Co. Caterpillar Inc. RTX Corp.
Dec 31, 2025
Dec 31, 2024
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Dec 31, 2021
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Dec 31, 2014
Dec 31, 2013
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Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
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Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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).