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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-09-11), Lockheed Martin's Intrinsic Value: Projected FCF is CHF263.26. The stock price of Lockheed Martin is CHF429.10. Therefore, Lockheed Martin's Price-to-Intrinsic-Value-Projected-FCF of today is 1.6.
The historical rank and industry rank for Lockheed Martin's Intrinsic Value: Projected FCF or its related term are showing as below:
XSWX:LMT'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.25 Med: 1.68 Max: 2.72
Current: 1.63
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Lockheed Martin was 2.72. The lowest was 1.25. And the median was 1.68.
XSWX:LMT's Price-to-Projected-FCF is ranked better than 71.43% of 196
companies
in the Aerospace & Defense industry
Industry Median: 2.775
vs XSWX:LMT: 1.63
Lockheed Martin (XSWX:LMT) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Lockheed Martin's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
429.10
/
254.31764365241
=
1.69
* 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 Intrinsic Value: Projected FCF Related Terms
Lockheed Martin Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Lockheed Martin's Intrinsic Value: Projected 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.
Lockheed Martin Intrinsic Value: Projected FCF Chart
XSWX:LMT vs HWM, GD, BA: Intrinsic Value: Projected FCF Comparison
For the Aerospace & Defense subindustry, Lockheed Martin's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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 Price-to-Projected-FCF vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Lockheed Martin's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Lockheed Martin's Price-to-Projected-FCF falls into.
Lockheed Martin Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of CHF263.26 mean?
Lockheed Martin (XSWX:LMT) has a Intrinsic Value: Projected FCF of CHF263.26 as of Sep. 11, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Lockheed Martin and its competitors. According to the industry distribution chart, Lockheed Martin ranks #56 out of 196 companies in the Aerospace & Defense industry, placing it in the top 28.6%.
Is Lockheed Martin's Intrinsic Value: Projected FCF too high?
Lockheed Martin's current Intrinsic Value: Projected FCF is CHF263.26. Based on the distribution chart, Lockheed Martin ranks #56 out of 196 companies in the Aerospace & Defense industry, which is above the industry midpoint. Overall, Lockheed Martin has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Lockheed Martin's Intrinsic Value: Projected FCF compare to HWM and GD?
According to the Aerospace & Defense industry distribution chart, Lockheed Martin ranks #56 out of 196 companies for Intrinsic Value: Projected FCF. This puts Lockheed Martin in the upper half of its industry. The industry median Intrinsic Value: Projected FCF is 2.78. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for an Aerospace & Defense company?
The median Intrinsic Value: Projected FCF among Aerospace & Defense companies is 2.78, based on 196 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF 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 Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Lockheed Martin and its competitors. For the Aerospace & Defense industry, the median Intrinsic Value: Projected FCF is 2.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lockheed Martin's current Intrinsic Value: Projected FCF is CHF263.26. 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?
Lockheed Martin (XSWX:LMT) has a current Intrinsic Value: Projected FCF of CHF263.26. The stock's GF Value™ is CHF455.17, compared to a current price of CHF429.10 — trading 5.7% below its estimated fair value. The current Intrinsic Value: Projected FCF is CHF263.26. Lockheed Martin's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Lockheed Martin (XSWX:LMT), the current Intrinsic Value: Projected FCF is CHF263.26 as of Sep. 11, 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 (XSWX:LMT) Overvalued in 2026?
Based on GuruFocus' analysis, Lockheed Martin stock appears to be undervalued.
The current stock price of CHF429.10 is trading 5.7% below its estimated GF Value™ of CHF455.17.
Key valuation signals for XSWX:LMT:
Intrinsic Value: Projected FCF: CHF263.26
GF Value™: CHF455.17 vs. price of CHF429.10 (5.7% below fair value)
No single metric tells the full story. See the XSWX: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.
80GF Score
Get the complete analysis for XSWX:LMT
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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