Lockheed Martin (LMT) 10-K Summary — Year Ended Dec 31, 2023
Lockheed Martin reported a modest revenue gain for the latest fiscal year. Operating and net income metrics were disclosed alongside a strong cash flow from operations.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Lockheed Martin reported a modest revenue gain for the latest fiscal year. Operating and net income metrics were disclosed alongside a strong cash flow from operations.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$67.6B
Revenue reported for the fiscal year.
Operating income
$8.5B
Income from operations reported for the year.
Net income
$6.9B
Net income reported for the year.
Operating cash flow
$7.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $67B | n/a |
| Dec 31, 2022 | $66B | -1.6% |
| Dec 31, 2023 | $67.6B | +2.4% |
Business overview
Lockheed Martin operates as a global security and aerospace company, engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. The filing notes that the company's business overview is provided under Item 1, with risk factors and cybersecurity details covered in Items 1A and 1C. No further business segment breakdown is supplied in the extracted context.
Financial performance
Annual revenue rose versus the prior year, reversing a slight decline seen in the previous period. Operating income, net income, and operating cash flow were all reported as positive figures, indicating a profitable year with healthy cash generation.
Material risks
The filing references Item 1A for risk factors, suggesting the company faces uncertainties typical of defense contracting. Specific risks are not elaborated in the supplied text, but the presence of unresolved staff comments and cybersecurity sections indicates regulatory and cyber-related exposures.
Liquidity and capital
The provided context does not contain explicit details on capital allocation, dividends, share repurchases, or debt management. Operating cash flow was disclosed, which may support capital returns or investment, but no allocation plan is stated.
What to watch
Investors should monitor whether revenue growth continues in the next filing, given the mixed trend of a prior decline and a recent recovery.