Lockheed Martin Corp (LMT)

Guided Missiles & Space Vehicles & Parts

Latest Price

$509.25

TTM P/E

18.77

Normalized P/E

21.06

Div Yield

2.68%

Book Value

38.03

P/B Ratio

13.39

Valuation metrics

EPS: $21.49

Book value / share: $29.35

Formula: √(22.5 × EPS × BVPS)

Graham Number

$119.13

77% downside

Norm. op. income: $8.5B (median of 7yr)

Tax rate: 15%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$240.66

53% downside

Base FCF: $6.2B (median of recent 5yr)

Growth: 6%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$417.30

18% downside

EPS: $21.49

Target P/E: 21×

Formula: EPS × P/E

P/E Fair Value

$451.29

11% downside

82.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
State Street Corp	32.98M	$16.80B	14.33%	+419.6K	2026-06-30
BlackRock, Inc.	18.88M	$9.62B	8.20%	+1.05M	2026-06-30
Vanguard Capital Management LLC	14.16M	$7.21B	6.15%	+93.3K	2026-06-30
Charles Schwab Investment Management Inc	7.81M	$3.98B	3.39%	+653.6K	2026-06-30
Sixth Street Partners Management Company, L.P.	7.81M	$3.98B	3.39%	--	2026-06-30
Corient Private Wealth LP	7.12M	$101.0M	3.09%	+6.94M	2026-06-30
Morgan Stanley	5.71M	$2.91B	2.48%	+41.6K	2026-06-30
Vanguard Portfolio Management LLC	5.56M	$2.83B	2.42%	+228.8K	2026-06-30
Geode Capital Management, LLC	5.22M	$2.66B	2.27%	+144.4K	2026-06-30
Invesco Ltd.	2.43M	$1.24B	1.05%	+467.2K	2026-06-30