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LMT

Lockheed Martin Corporation

NYSE: LMT · INDUSTRIALS · AEROSPACE & DEFENSE

$509.81
-0.48% today

Updated 2026-04-29

Market cap
$118.38B
P/E ratio
24.88
P/S ratio
1.58x
EPS (TTM)
$20.64
Dividend yield
2.55%
52W range
$402 – $692
Volume
1.6M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Lockheed Martin Corporation (LMT) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$509.81
Consensus
$591.00
+15.93%
2030 Target
$5,231.44
+926.15%
DCF
$457.50
-37.42% MoS
15 analysts:
2 Buy11 Hold1 Sell

Management guidance

No specific CEO revenue targets disclosed in available research data. Company has demonstrated 5.64% YoY revenue growth in FY2025 ($75.05B) and historical 5Y CAGR of 2.8%. Management is focused on accelerating missile production (quadrupling PAC-3 MSE output) and defense industrial base expansion under Trump administration priorities, but no quantified revenue targets through 2030 have been communicated.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$8,719.06
$99.5B Rev × 20x P/S
Base case (2030)
$5,231.44
$99.5B Rev × 12x P/S
Bear case (2030)
$3,487.62
$99.5B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$67.6B$71.0B$75.1B$79.9B$83.8B$88.5B$93.8B$99.5B
Revenue growth—5.1%5.7%6.5%4.9%5.6%6.0%6.1%
EPS$27.83$27.99$21.49$30.19$32.28$34.75$37.40$40.20
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$4,172.69$4,421.81$4,670.92$4,920.04$5,231.44

Catalysts & risks

Growth catalysts
+ Pentagon 7-year agreement to triple PAC-3 MSE seeker production capacity
+ Trump administration 'Arsenal of Freedom' strategy with $1.5T+ defense budget projection for 2027
+ NASA Artemis II mission success showcasing Lockheed's Orion spacecraft capabilities in deep-space exploration
+ Escalating geopolitical tensions (Iran conflict, Ukraine/NATO buildup) driving demand for precision strike systems
+ F-35 production acceleration and international orders expansion across allied nations
+ Space Development Agency (SDA) Tranche 3 and future satellite constellation contracts
Key risks
- High leverage (Debt/Equity 3.39x) limits financial flexibility in economic downturn
- Fixed-price contracts expose company to cost overruns and margin compression
- Analyst consensus is 'Hold' with mixed sentiment; only 2 Buy vs 11 Hold ratings suggest caution
- P/E of 28.7x is elevated vs. historical average, leaving limited upside if growth disappoints
- Political uncertainty around defense spending despite Trump's pro-defense stance; Congress appropriations remain variable
- Supply chain constraints in missile production may limit ability to fulfill accelerated capacity targets

Methodology

Lockheed Martin Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.