Lockheed Martin forward PE LMT

Share price divided by analysts' consensus earnings for the next twelve months, since 1996.

Today, Oct 23, 2026: 19.2×
10-year median: 17.8×
Against its 10-year history: 69th; percentile: 0 is its lowest day, 100 its highest
10-year range: 12.1× to 24.9×
Peer median: 24.1×

Lockheed Martin's forward PE is 19.2× as of Oct 23, 2026.

That is above its ten-year median of 17.8×, higher than on 69% of days in the last ten years.

Over that time it ranged from 12.1× in Mar 2020 to 24.9× in Feb 2018.

The median for 10 aerospace and defense stocks of a similar size is 24.1×.

Forward PE over time

median 17.8×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	19.2×	16.1×	22.4×
2025	17.7×	16.1×	19.3×
2024	18.9×	16.7×	23.6×
2023	17.4×	15.3×	18.6×
2022	18.3×	14.6×	21.1×
2021	16.2×	14.7×	21.8×
2020	16.7×	12.1×	19.1×
2019	17.4×	14.3×	18.0×
2018	14.1×	13.8×	24.9×
2017	22.8×	19.1×	23.0×
2016	20.6×	19.5×	23.6×
2015	20.4×	17.6×	21.2×
2014	19.7×	14.6×	19.7×
2013	16.0×	11.2×	16.0×
2012	12.0×	11.6×	14.0×
2011	12.4×	10.4×	12.7×
2010	10.4×	10.2×	13.8×
2009	12.2×	8.7×	13.5×
2008	12.1×	10.8×	16.9×
2007	16.5×	15.8×	20.0×

Against its peers

Companies in Aerospace & Defense nearest Lockheed Martin's size, closest first, today.

Company	Forward PE
LMTLockheed Martin	19.2×
BABoeing	197×
GDGeneral Dynamics	20.0×
NOCNorthrop Grumman	18.9×
RTXRTX	24.7×
HWMHowmet Aerospace	31.5×
GEGE Aerospace	32.2×
TDGTransDigm	23.6×
HONAHoneywell Aerospace	20.1×
LHXL3Harris Technologies	20.6×
HEIHEICO	42.8×
Peer median	24.1×

Where Lockheed Martin ranks

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

More on Lockheed Martin

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.