Lockheed MartinLIM:LMT 73 EV-to-FCF is 23.34 as of Jun. 24, 2026, which is 8% above its 10-year median of 21.54. GuruFocus rates LIM:LMT with a GF Score™ of 73/100 and a GF Value™ of $587.42 (Fairly Valued). The stock has 3 warning signs investors should review. Among 180 Aerospace & Defense companies, Lockheed Martin ranks better than 67.22% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Lockheed Martin's Enterprise Value is $132,157 Mil.
Lockheed Martin's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $5,662 Mil. Therefore, Lockheed Martin's EV-to-FCF for today is 23.34.
The historical rank and industry rank for Lockheed Martin's EV-to-FCF or its related term are showing as below:
LIM:LMT'
s EV-to-FCF Range Over the Past 10 Years
Min: 13.02 Med: 21.54 Max: 102.47
Current: 23.83
During the past 13 years, the highest EV-to-FCF of Lockheed Martin was 102.47. The lowest was 13.02. And the median was 21.54.
LIM:LMT's EV-to-FCF is ranked better than 67.22% of 180
companies
in the Aerospace & Defense industry
Industry Median: 34.655
vs LIM:LMT: 23.83
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Lockheed Martin's PE Ratio (TTM) for today is calculated as:
Lockheed Martin's share price for today is $541.22.
Lockheed Martin's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $20.650.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Lockheed Martin EV-to-FCF Related Terms
Lockheed Martin EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Lockheed Martin's EV-to-FCF 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.
For the Aerospace & Defense subindustry, Lockheed Martin's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Lockheed Martin's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Lockheed Martin's EV-to-FCF falls into.
Lockheed Martin's current Enterprise Value is $132,157 Mil.
Lockheed Martin's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $5,662 Mil.
* 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.
Lockheed Martin (LIM:LMT) has a EV-to-FCF of 23.34 as of Jun. 24, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Lockheed Martin and its competitors. This is near median its historical median of 21.54. Over the past decade, Lockheed Martin's EV-to-FCF has ranged from 13.02 to 102.47. According to the industry distribution chart, Lockheed Martin ranks #59 out of 180 companies in the Aerospace & Defense industry, placing it in the top 32.8%.
Is Lockheed Martin's EV-to-FCF too high?
Lockheed Martin's current EV-to-FCF of 23.34 is near median its 10-year median of 21.54. Over the past 10 years, this metric has ranged from a low of 13.02 to a high of 102.47. The Aerospace & Defense industry median EV-to-FCF is 34.66. Lockheed Martin's value of 23.34 is 32.7% below this industry median. Based on the distribution chart, Lockheed Martin ranks #59 out of 180 companies in the Aerospace & Defense industry, which is above the industry midpoint. 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 EV-to-FCF compare to HWM and GD?
According to the Aerospace & Defense industry distribution chart, Lockheed Martin ranks #59 out of 180 companies for EV-to-FCF. This puts Lockheed Martin in the upper half of its industry. The industry median EV-to-FCF is 34.66. Lockheed Martin's value of 23.34 is 32.7% below this benchmark. Historically, Lockheed Martin's own EV-to-FCF has ranged from 13.02 to 102.47 over the past decade. While the company's 10-year median is 21.54 vs. the industry median of 34.66, Lockheed Martin has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Aerospace & Defense company?
The median EV-to-FCF among Aerospace & Defense companies is 34.66, based on 180 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lockheed Martin's current EV-to-FCF of 23.34 is 32.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Lockheed Martin and its competitors. For the Aerospace & Defense industry, the median EV-to-FCF is 34.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lockheed Martin's current EV-to-FCF is 23.34, which is near median its own 10-year median of 21.54. 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 EV-to-FCF is 23.34, which is near median its 10-year median of 21.54 and 32.7% below the Aerospace & Defense industry median of 34.66. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Lockheed Martin (LIM:LMT), the current EV-to-FCF is 23.34 as of Jun. 24, 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:
EV-to-FCF: 23.34 (near median its 10-year median of 21.54)
GF Value™: $587.42 vs. price of $541.22 (7.9% below fair value)
Industry Position: 32.7% below the Aerospace & Defense median (#59 of 180)
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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