Lockheed Martin (LMT)
NYSEIndustrialsAerospace & DefenseSnapshot 2026-11-04
$595.04-6.88%
Close 2026-11-04 · 1-day change
NYSEIndustrialsAerospace & DefenseSnapshot 2026-11-04
Research Workspace
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Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Aerospace & Defense is in expansion. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Deliver EPS between $29.35 and $30.25 in FY26: Diluted EPS: $7.97 per share.
View ThesisRevenue is growing steadily — about 8% over the past year.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityManagement screens strong on capital allocation, margins, the balance sheet, market reaction to earnings.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationModerate volatility — typically moves about 1% a day.
View RiskLockheed Martin's defense production ramp has to keep compounding to justify the price. Revenue grew 11% year over year in the latest quarter. The company also beat earnings estimates by 6.4%. It trades at 21 times earnings versus a 29 times peer median. The price reflects less growth than we forecast. The primary pillar is under pressure. Diluted EPS is $7.97 per share. Peer multiples imply a price about 3% above where it trades. The thesis is on watch. This read is provisional.
Trailing returns as of 2026-11-04. LMT is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 23 analysts currently covering LMT (as of Nov 2026).
Based on 9 Wall Street analysts offering 12-month price targets for LMT in the last 4 months.
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Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 12 valuation methods, at three horizons. As of 2026-11-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Aerospace & Defense — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Compare the value case
Put LMT next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Invest in production capacity and next-generation technology
Validates next-gen hypersonic tech investment.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-11-04. EPS is implied from price ÷ P/E. Not investment advice.
Current $595.04
The last 12 months of price, then the range of analyst 12-month targets from today’s $595.04.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 10% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Political shift raises spending uncertainty, challenging growth objectives.
Settlement is minor relative to $7B FCF target.
Threatens: Scale munitions production and production capacity
Congressional hurdles may delay Golden Dome production scaling.
Acquisition expands undersea warfare capabilities and product portfolio.
Advances: Scale munitions production and production capacity
Air Force award supports munitions demand, while planned Poland facility adds production capacity.
Advances: Invest in production capacity and next-generation technology
Substantial hypersonic weapon award supports next-generation technology investment and adds funded program work.
Advances: Accelerate sales and segment operating profit growth
Reported US procurement planning supports F-35 demand and sales growth, though plans are not firm orders.
