Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Lockheed Martin's shares outstanding for the quarter that ended in Mar. 2026 was 230 Mil.
Lockheed Martin's quarterly shares outstanding
increased
from Dec. 2025 (229 Mil) to Mar. 2026 (230 Mil).
It means Lockheed Martinissued new shares from Dec. 2025 to Mar. 2026 .
Lockheed Martin's annual shares outstanding
declined
from Dec. 2024 (234 Mil) to Dec. 2025 (229 Mil).
It means Lockheed Martinbought back shares from Dec. 2024 to Dec. 2025 .
Lockheed Martin (LIM:LMT) Shares Outstanding (EOP) Explanation
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
Lockheed Martin Shares Outstanding (EOP) Related Terms
Lockheed Martin Shares Outstanding (EOP) Historical Data
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The historical data trend for Lockheed Martin's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
LIM:LMT vs HWM, GD, RKLB: Shares Outstanding (EOP) Comparison
For the Aerospace & Defense subindustry, Lockheed Martin's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lockheed Martin Shares Outstanding (EOP) vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Lockheed Martin's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where Lockheed Martin's Shares Outstanding (EOP) falls into.
Lockheed Martin Shares Outstanding (EOP) Calculation
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
What does a Shares Outstanding (EOP) of 230 Mil mean?
Lockheed Martin (LIM:LMT) has a Shares Outstanding (EOP) of 230 Mil as of Mar. 2026. The total shares a company has outstanding, at period-end. View historical data on Lockheed Martin and its competitors.
Is Lockheed Martin's Shares Outstanding (EOP) too high?
Lockheed Martin's current Shares Outstanding (EOP) is 230 Mil. Overall, Lockheed Martin has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lockheed Martin's Shares Outstanding (EOP) compare to HWM and GD?
Lockheed Martin's Shares Outstanding (EOP) of 230 Mil can be compared against companies in the Aerospace & Defense industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for an Aerospace & Defense company?
A good Shares Outstanding (EOP) depends on the Aerospace & Defense industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on Lockheed Martin and its competitors. Lockheed Martin's current Shares Outstanding (EOP) is 230 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lockheed Martin stock overvalued right now?
Based on GuruFocus' analysis, Lockheed Martin (LIM:LMT) is currently considered Fairly Valued. The stock's GF Value™ is $587.42, compared to a current price of $541.22 — trading 7.9% below its estimated fair value. The current Shares Outstanding (EOP) is 230 Mil. Lockheed Martin's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For Lockheed Martin (LIM:LMT), the current Shares Outstanding (EOP) is 230 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lockheed Martin (LIM:LMT) Overvalued in 2026?
Based on GuruFocus' analysis, Lockheed Martin stock appears to be undervalued.
The current stock price of $541.22 is trading 7.9% below its estimated GF Value™ of $587.42.
GuruFocus considers Lockheed Martin to be Fairly Valued.
Key valuation signals for LIM:LMT:
Shares Outstanding (EOP): 230 Mil
GF Value™: $587.42 vs. price of $541.22 (7.9% below fair value)
No single metric tells the full story. See the LIM:LMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lockheed Martin is the world's largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001. Aeronautics is Lockheed's largest segment, which derives upward of two-thirds of its revenue from the F-35. Lockheed's remaining segments are rotary and mission systems, mainly encompassing the Sikorsky helicopter business; missiles and fire control, which creates missiles and missile defense systems; and space systems, which produces satellites and receives equity income from the United Launch Alliance joint venture.
73GF Score
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Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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