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Held by 2,807 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $538.09 today, the market must believe free cash flow compounds 9.6%/yr for a decade (off $6.1B normalized FCF).
The market's 9.6% is more optimistic than its 9-yr track record.
2-stage DCF · 0.23B shares · net debt $17.6B
mean 22.6% · volatility σ 77% · implied rate exceeded in 5/9 yrs
Central path = implied 9.6%/yr growth; shaded band = ±1σ (77%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 45% of free cash flow, leaving room to grow it and fund buybacks. Last year: $3.1B dividends + $3.0B buybacks = $6.1B returned on $6.9B FCF.
9 consecutive years of dividend increases · 8%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 18%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.05B 100.0% | $71.04B 100.0% | $67.57B 100.0% | $65.98B 100.0% | $67.04B 100.0% | $65.40B 100.0% | $59.81B 100.0% | $53.76B 100.0% | $49.96B 100.0% | $47.29B 100.0% |
| Cost of Revenue | $67.43B 89.8% | $64.11B 90.2% | $59.09B 87.5% | $57.70B 87.4% | $57.98B 86.5% | $56.74B 86.8% | $51.45B 86.0% | $46.49B 86.5% | $43.59B 87.2% | $41.89B 88.6% |
| Cost of Products | — | — | — | — | — | — | — | — | $39.75B 79.6% | $36.62B 77.4% |
| Cost of Services | — | — | — | — | — | — | — | — | $6.41B 12.8% | $6.04B 12.8% |
| Gross Profit | $7.62B 10.2% | $6.93B 9.8% | $8.48B 12.5% | $8.29B 12.6% | $9.06B 13.5% | $8.65B 13.2% | $8.37B 14.0% | $7.27B 13.5% | $6.37B 12.8% | $5.40B 11.4% |
| Research & Development | $2.00B 2.7% | $1.60B 2.3% | $1.50B 2.2% | $1.70B 2.6% | $1.50B 2.2% | $1.30B 2.0% | $1.30B 2.2% | $1.30B 2.4% | $1.20B 2.4% | $988.0M 2.1% |
| Operating Income | $7.73B 10.3% | $7.01B 9.9% | $8.51B 12.6% | $8.35B 12.7% | $9.12B 13.6% | $8.64B 13.2% | $8.54B 14.3% | $7.33B 13.6% | $6.74B 13.5% | $5.89B 12.5% |
| Interest Expense | $1.12B 1.5% | $1.04B 1.5% | $916.0M 1.4% | $623.0M 0.9% | $569.0M 0.8% | $591.0M 0.9% | $653.0M 1.1% | $668.0M 1.2% | $651.0M 1.3% | $663.0M 1.4% |
| Other Income (Expense), net | $183.0M 0.2% | $181.0M 0.3% | $64.0M 0.1% | -$74.0M -0.1% | $288.0M 0.4% | -$37.0M -0.1% | -$74.0M -0.1% | -$828.0M -1.5% | -$847.0M -1.7% | -$471.0M -1.0% |
| Pretax Income | $5.92B 7.9% | $6.22B 8.8% | $8.10B 12.0% | $6.68B 10.1% | $7.55B 11.3% | $8.23B 12.6% | $7.24B 12.1% | $5.84B 10.9% | $5.25B 10.5% | $4.75B 10.1% |
| Income Tax Expense | $905.0M 1.2% | $884.0M 1.2% | $1.18B 1.7% | $948.0M 1.4% | $1.24B 1.8% | $1.35B 2.1% | $1.01B 1.7% | $792.0M 1.5% | $3.36B 6.7% | $1.09B 2.3% |
| Net Income | $5.02B 6.7% | $5.34B 7.5% | $6.92B 10.2% | $5.73B 8.7% | $6.32B 9.4% | $6.83B 10.4% | $6.23B 10.4% | $5.05B 9.4% | $1.96B 3.9% | $5.17B 10.9% |
| Per Share | ||||||||||
| EPS (Basic) | $21.56 | $22.39 | $27.65 | $21.74 | $22.85 | $24.40 | $22.09 | $17.74 | $6.82 | $17.28 |
| EPS (Diluted) | $21.49 | $22.31 | $27.55 | $21.66 | $22.76 | $24.30 | $21.95 | $17.59 | $6.75 | $17.07 |
| Weighted Avg Shares (Basic) | 232.7M | 238.3M | 250.3M | 263.7M | 276.4M | 280.0M | 282.0M | 284.5M | 287.8M | 299.3M |
| Weighted Avg Shares (Diluted) | 233.5M | 239.2M | 251.2M | 264.6M | 277.4M | 281.2M | 283.8M | 286.8M | 290.6M | 303.1M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.2% on $21.7B of debt.
Cash of $4.1B fully covers short-term debt of $1.2B.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Ranked against 651 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTM | $29.49T | — | — | — | — | — | — | — | — | — | 160 |
| CAT | $371.6B | 42.5× | 29.7× | 5.5× | 4.3% | 33.8% | 13.1% | 41.7% | 15.4% | 2.7× | 3,616 |
| GE | $328.8B | 38.5× | — | 7.2× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 3,077 |
| RTX | $259.8B | 39.0× | 18.5× | 2.9× | 9.7% | — | 7.6% | 10.3% | 10.3% | 0.0× | 3,277 |
| BA | $199.4B | 79.4× | 40.2× | 2.2× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 10.0× | 2,435 |
| DE | $185.4B | 37.1× | — | 4.1× | -11.7% | — | 11.0% | 19.4% | 12.6% | — | 2,491 |
| ABBNY | $177.4B | 47.9× | 31.6× | 5.5× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.9× | 48 |
| UNP | $167.6B | 23.6× | 16.1× | 6.8× | 1.1% | — | 29.1% | 38.7% | 14.2% | 2.6× | 2,648 |
| ETN | $158.8B | 39.2× | — | 5.8× | 10.3% | 37.6% | 14.9% | 21.0% | 13.9% | — | 2,398 |
| HON | $131.2B | 28.1× | 16.1× | 3.5× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 3.6× | 2,694 |
| LMT | $123.2B | 25.0× | 16.1× | 1.6× | 5.6% | 10.2% | 6.7% | 74.6% | 17.7% | 2.5× | 2,807 |
| PH | $118.7B | 34.1× | 26.8× | 6.0× | -0.4% | 36.9% | 17.8% | 25.8% | 16.7% | 1.6× | 1,845 |
| ADP | $108.3B | 24.9× | — | 4.9× | 6.7% | 46.4% | 20.1% | 73.2% | 40.1% | — | 2,179 |
| GD | $96.2B | 23.0× | 16.9× | 1.8× | 10.1% | — | 8.0% | 16.4% | 12.5% | 1.3× | 2,123 |
| TT | $94.4B | 32.6× | 23.3× | 4.4× | 7.5% | — | 13.7% | 34.0% | 22.1% | 1.1× | 1,658 |
| VRT | $92.4B | 70.8× | 43.8× | 9.0× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 1.4× | 1,748 |
| PWR | $92.2B | 90.7× | 45.8× | 3.2× | 20.3% | 15.0% | 3.6% | 11.5% | 10.6% | 0.4× | 1,659 |
| JCI | $91.9B | 28.0× | — | 3.9× | 2.8% | 36.4% | 13.9% | 25.5% | 14.4% | — | 1,487 |
| HWM | $90.7B | 60.9× | 39.9× | 11.0× | 11.1% | — | 18.3% | 28.2% | 17.9% | 1.3× | 1,399 |
| CSX | $89.1B | 31.1× | 14.4× | 6.3× | -3.1% | — | 20.5% | 22.0% | 22.0% | — | 1,791 |
| MMM | $87.3B | 27.4× | 16.8× | 3.5× | 1.5% | 39.9% | 13.0% | 69.1% | 18.8% | 2.1× | 2,051 |
| WM | $86.0B | 31.8× | 12.1× | 3.4× | 14.2% | 40.4% | 10.7% | 27.1% | 25.3% | 0.1× | 2,262 |
| UPS | $85.0B | 15.3× | 9.5× | 1.0× | -2.6% | — | 6.3% | 34.3% | 13.8% | 2.2× | 2,025 |
| EMR | $83.0B | 36.5× | — | 4.6× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | — | 2,112 |
| CTAS | $79.8B | 45.0× | 28.7× | 7.7× | 7.7% | 50.0% | 17.5% | 38.7% | 25.5% | 0.8× | 1,366 |
Peers = companies sharing LMT's sector (Industrials) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 89th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 86.5 | 86.0 | 86.8 | 86.5 | 87.4 | 87.5 | 90.2 | 89.8 |
| Gross Profit | 13.5 | 14.0 | 13.2 | 13.5 | 12.6 | 12.5 | 9.8 | 10.2 |
| R&D | 2.4 | 2.2 | 2.0 | 2.2 | 2.6 | 2.2 | 2.3 | 2.7 |
| Operating Income | 13.6 | 14.3 | 13.2 | 13.6 | 12.7 | 12.6 | 9.9 | 10.3 |
| Income Tax | 1.5 | 1.7 | 2.1 | 1.8 | 1.4 | 1.7 | 1.2 | 1.2 |
| Net Income | 9.4 | 10.4 | 10.4 | 9.4 | 8.7 | 10.2 | 7.5 | 6.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LMT: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.