Price to Earnings (P/E)
since 2005
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Lockheed Martin Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
Lockheed Martin Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net earnings1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 23, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 25, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Lockheed Martin Corp. Annual Report.
The price-to-earnings (P/E) ratio, calculated from the provided share price and earnings per share figures, exhibits considerable fluctuation over the observed period from 2006 to 2026. Initial values indicate a relatively stable P/E ratio in the mid-teens, followed by a significant decline during the 2008-2009 timeframe, and subsequent volatility.
- Initial Stability and Subsequent Decline (2006-2009)
- From 2006 to 2008, the P/E ratio remained within a narrow range, fluctuating between 14.15 and 17.45. A marked decrease is then observed in 2009, with the P/E ratio falling to 8.47. This decline likely reflects a combination of factors, including a decrease in share price and potentially increased earnings during a period of economic uncertainty.
- Post-Decline Recovery and Fluctuations (2010-2017)
- Following the 2009 low, the P/E ratio experienced a period of recovery, stabilizing in the range of 9.56 to 18.36 between 2010 and 2017. However, this period was not without fluctuations. A substantial increase to 48.70 is noted in 2017, driven primarily by a significant drop in earnings per share while the share price remained relatively high.
- Recent Trends (2018-2026)
- From 2018 onwards, the P/E ratio demonstrates continued volatility. It decreased to 16.88 in 2018, then increased to 19.87 in 2020, followed by a decrease to 13.44 in 2021. The ratio then increased again, reaching 28.55 in 2026. This recent pattern suggests a sensitivity to both share price and earnings fluctuations, with the 2026 value being the highest observed in the analyzed period. The P/E ratio in 2026 is significantly higher than the average observed during the earlier years of the period.
Overall, the P/E ratio demonstrates a lack of consistent trend. While periods of relative stability are present, they are interspersed with notable increases and decreases, indicating a dynamic relationship between market valuation and company performance. The most recent years show a tendency towards higher P/E ratios, potentially reflecting increased investor confidence or changing market conditions.
Comparison to Competitors
Lockheed Martin Corp., P/E, long-term trends, comparison to competitors
| Lockheed Martin Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | |||||||
| Jan 28, 2025 | |||||||
| Jan 23, 2024 | |||||||
| Jan 26, 2023 | |||||||
| Jan 25, 2022 | |||||||
| Jan 28, 2021 | |||||||
| Feb 7, 2020 | |||||||
| Feb 8, 2019 | |||||||
| Feb 6, 2018 | |||||||
| Feb 9, 2017 | |||||||
| Feb 24, 2016 | |||||||
| Feb 9, 2015 | |||||||
| Feb 14, 2014 | |||||||
| Feb 28, 2013 | |||||||
| Feb 23, 2012 | |||||||
| Feb 25, 2011 | |||||||
| Feb 25, 2010 | |||||||
| Feb 26, 2009 | |||||||
| Feb 28, 2008 | |||||||
| Feb 26, 2007 | |||||||
| Feb 28, 2006 |
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).
Comparison to Sector (Capital Goods)
Lockheed Martin Corp., P/E, long-term trends, comparison to sector (capital goods)
| Lockheed Martin Corp. | Capital Goods | |
|---|---|---|
| Jan 29, 2026 | ||
| Jan 28, 2025 | ||
| Jan 23, 2024 | ||
| Jan 26, 2023 | ||
| Jan 25, 2022 | ||
| Jan 28, 2021 | ||
| Feb 7, 2020 | ||
| Feb 8, 2019 | ||
| Feb 6, 2018 | ||
| Feb 9, 2017 | ||
| Feb 24, 2016 | ||
| Feb 9, 2015 | ||
| Feb 14, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Feb 25, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 26, 2007 | ||
| Feb 28, 2006 |
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).
Comparison to Industry (Industrials)
Lockheed Martin Corp., P/E, long-term trends, comparison to industry (industrials)
| Lockheed Martin Corp. | Industrials | |
|---|---|---|
| Jan 29, 2026 | ||
| Jan 28, 2025 | ||
| Jan 23, 2024 | ||
| Jan 26, 2023 | ||
| Jan 25, 2022 | ||
| Jan 28, 2021 | ||
| Feb 7, 2020 | ||
| Feb 8, 2019 | ||
| Feb 6, 2018 | ||
| Feb 9, 2017 | ||
| Feb 24, 2016 | ||
| Feb 9, 2015 | ||
| Feb 14, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Feb 25, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 26, 2007 | ||
| Feb 28, 2006 |
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).