U.S. COMPANY FILING
LOCKHEED MARTIN CORP — Form 10-K filed 2026-01-29
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Lockheed Martin's 2025 sales rose 5.6% to $75.05B, but net earnings fell to $5.02B ($21.49/share) from $5.34B. F-35 represented 27% of sales; U.S. government 72%. Operating cash flow was $8.56B, free cash flow $6.91B. The company recorded reach-forward losses on classified and Turkish helicopter programs, a $479M pension settlement charge, and a $485M tariff cash flow impact. Backlog increased, driven by strategic and missile defense programs.
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