LOCKHEED MARTIN CORP（LMT）の決算・業績分析
LOCKHEED MARTIN CORPの2025年有価証券報告書をAI分析。売上高$75.0B(+5.6%)。営業利益$7.7B。Industrials。
目次
LOCKHEED MARTIN CORPの2025年度 業績サマリー
LOCKHEED MARTIN CORP（証券コード: LMT）の2025年度決算・業績分析。売上高は$75.0B（前年比+5.6%）。営業利益は$7.7B（前年比+10.2%）。純利益は$5.0B（前年比-6.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
LOCKHEED MARTIN CORPの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 1.6% YoY to $66.0B (XBRL), driven by reduced U.S. Government contracts and international demand.
- Operating income fell 8.5% YoY to $8.3B (XBRL), despite stable gross margin (12.6%) and operating margin (12.7%).
- Net debt rose to $15.8B (1.6x EBITDA) (XBRL), reflecting a high D/E ratio of 4.16x, but strong ROE of 52.3% (XBRL).
- Shareholder returns totaled $10.9B (XBRL), with $7.9B in share repurchases and $3.0B in dividends.
LOCKHEED MARTIN CORPの売上高変化の要因
- •Total revenue was $66.0B (XBRL), down 1.6% YoY. Decline may stem from reduced U.S. Government contracts (73% of sales) and international demand (26%), though growth in F-35 sustainment, PAC-3 production, and HIMARS is noted (10-K). Segment-specific revenue figures are not provided in the XBRL data (N/A).
LOCKHEED MARTIN CORPの営業利益変化の要因
- •Gross profit was $8.3B with a 12.6% margin (XBRL). Operating income was $8.3B (12.7% margin), down 8.5% YoY (XBRL). Net income fell 9.2% YoY to $5.7B (XBRL), with net margin at 8.7% (XBRL). Cost of sales changes and factors affecting profitability are not quantified in the data (N/A).
LOCKHEED MARTIN CORPの事業リスクと対応
Heavy reliance on U.S. Government contracts (73% of sales, 65% from DoD) exposes the company to budget cuts, delays, or shutdowns (10-K).
The F-35 program (26% of revenue) faces risks from funding reductions, performance issues, or competition from next-gen platforms (10-K).
Delays in government appropriations or contract funding could lead to unreimbursed costs and financial strain (10-K).
Supplier dependencies may cause hardware upgrade delays, cost increases, or schedule disruptions (10-K).
Challenges in achieving affordability, sustainment performance, and supply chain improvements could impact future F-35 growth (10-K).
LOCKHEED MARTIN CORPの今後の見通し・業績予想
LOCKHEED MARTIN CORPの事業内容
Lockheed Martin Corp (LMT) is a global aerospace and defense company generating revenue through research, design, development, manufacture, integration, and sustainment of advanced technology systems for defense, space, intelligence, and homeland security (10-K). Key segments include Aeronautics (F-35, C-130), Missiles and Fire Control (PAC-3, HIMARS), Rotary and Mission Systems (CH-53K), and Space (Trident II D5 modernization) (10-K). Competitive advantages include investments in AI, autonomy, and strategic partnerships, with 73% of revenue derived from U.S. Government contracts (10-K).
LOCKHEED MARTIN CORPのAI業績分析レポート（2024年度）
Annual Report Analysis: Lockheed Martin Corp (LMT) FY2024
Highlights
Business Overview
Lockheed Martin Corp (LMT) is a global aerospace and defense company generating revenue through research, design, development, manufacture, integration, and sustainment of advanced technology systems for defense, space, intelligence, and homeland security (10-K). Key segments include Aeronautics (F-35, C-130), Missiles and Fire Control (PAC-3, HIMARS), Rotary and Mission Systems (CH-53K), and Space (Trident II D5 modernization) (10-K). Competitive advantages include investments in AI, autonomy, and strategic partnerships, with 73% of revenue derived from U.S. Government contracts (10-K).
Revenue Analysis
Total revenue was $66.0B (XBRL), down 1.6% YoY. Decline may stem from reduced U.S. Government contracts (73% of sales) and international demand (26%), though growth in F-35 sustainment, PAC-3 production, and HIMARS is noted (10-K). Segment-specific revenue figures are not provided in the XBRL data (N/A).
Profitability Analysis
Gross profit was $8.3B with a 12.6% margin (XBRL). Operating income was $8.3B (12.7% margin), down 8.5% YoY (XBRL). Net income fell 9.2% YoY to $5.7B (XBRL), with net margin at 8.7% (XBRL). Cost of sales changes and factors affecting profitability are not quantified in the data (N/A).
Balance Sheet Analysis
Equity ratio was 20.9% (XBRL), with long-term debt at $17.3B (XBRL) and net debt of $15.8B (1.6x EBITDA) (XBRL). Current ratio was 1.21x (XBRL). Cash was $1.4B (XBRL). ROE was 52.3% (XBRL), ROA 10.9% (XBRL), and ROIC 12.5% (XBRL).
Cash Flow Analysis
Operating cash flow was $7.8B (XBRL), higher than net income ($5.7B) (XBRL). Free cash flow was $6.0B (XBRL). Investing cash flow was -$1.8B (XBRL). Financing cash flow was -$7.1B (XBRL), including $3.0B in dividends and $7.9B in share repurchases (XBRL).
Working Capital Analysis
N/A
Risks
Outlook
Management provided FY2025 revenue guidance of $67.6B (XBRL). Key trends include 21st Century Security initiatives, AI/ML investments, CJADC2 development, and growth in F-35 sustainment, PAC-3, and HIMARS (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 53.8B | 59.8B | 65.4B | 67.0B | 66.0B | 67.6B |
| Operating Income | 7.3B | 8.5B | 8.6B | 9.1B | 8.3B | 8.5B |
| Net Income | 5.0B | 6.2B | 6.8B | 6.3B | 5.7B | 6.9B |
| Total Assets | 47.5B | 50.7B | 50.9B | 52.9B | 52.5B | 55.6B |
| Total Equity | 3.1B | 6.0B | 11.0B | 9.3B | 11.0B | 9.3B |
| Operating Cash Flow | 3.1B | 7.3B | 8.2B | 9.2B | 7.8B | 7.9B |
Industrialsの企業一覧
LOCKHEED MARTIN CORPと同じ「Industrials」セクターの企業