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Lockheed Martin vs RTX: revenue, profit, margins and growth compared

Lockheed Martin brought in $75B of revenue in fiscal 2025, RTX $88.6B in fiscal 2025. Revenue changed by +5.6% at Lockheed Martin and +9.7% at RTX on the year before, so RTX grew faster. Lockheed Martin kept 6.7% of its revenue as net profit, RTX 7.6%. Free cash flow was $6.9B at Lockheed Martin and $7.9B at RTX.

Side by side, latest fiscal year

LMTRTX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$75B$88.6B
Revenue growth+5.6%+9.7%
Net income$5B$6.7B
Net margin6.7%7.6%
Free cash flow$6.9B$7.9B
Free cash flow margin9.2%9.0%
Earnings per share (diluted)$21.49$4.96
Cash$4.1B$7.4B
Debt$21.7B$37.7B
Price to earnings24.238.2
Market value$119.9B$255.3B
Dividend yield2.57%1.41%
Rank by revenue in sector#7 of 451 · Industrials#6 of 451 · Industrials

Over the years

Revenue
LMT FY2018: $53.8BLMT FY2019: $59.8BLMT FY2020: $65.4BLMT FY2021: $67BLMT FY2022: $66BLMT FY2023: $67.6BLMT FY2024: $71BLMT FY2025: $75BRTX FY2018: $34.7BRTX FY2019: $45.3BRTX FY2020: $56.6BRTX FY2021: $64.4BRTX FY2022: $67.1BRTX FY2023: $68.9BRTX FY2024: $80.7BRTX FY2025: $88.6BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $75BRTX $88.6B
Net income
LMT FY2018: $5BLMT FY2019: $6.2BLMT FY2020: $6.8BLMT FY2021: $6.3BLMT FY2022: $5.7BLMT FY2023: $6.9BLMT FY2024: $5.3BLMT FY2025: $5BRTX FY2018: $5.3BRTX FY2019: $5.5BRTX FY2020: -$3.5BRTX FY2021: $3.9BRTX FY2022: $5.2BRTX FY2023: $3.2BRTX FY2024: $4.8BRTX FY2025: $6.7BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $5BRTX $6.7B
Net margin
LMT FY2018: 9.4%LMT FY2019: 10.4%LMT FY2020: 10.4%LMT FY2021: 9.4%LMT FY2022: 8.7%LMT FY2023: 10.2%LMT FY2024: 7.5%LMT FY2025: 6.7%RTX FY2018: 15.2%RTX FY2019: 12.2%RTX FY2020: -6.2%RTX FY2021: 6.0%RTX FY2022: 7.7%RTX FY2023: 4.6%RTX FY2024: 5.9%RTX FY2025: 7.6%FY18FY19FY20FY21FY22FY23FY24FY25
LMT 6.7%RTX 7.6%
Revenue growth
LMT FY2019: +11.3%LMT FY2020: +9.3%LMT FY2021: +2.5%LMT FY2022: -1.6%LMT FY2023: +2.4%LMT FY2024: +5.1%LMT FY2025: +5.6%RTX FY2019: +30.7%RTX FY2020: +24.8%RTX FY2021: +13.8%RTX FY2022: +4.2%RTX FY2023: +2.8%RTX FY2024: +17.1%RTX FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
LMT +5.6%RTX +9.7%
Free cash flow
LMT FY2018: $1.9BLMT FY2019: $5.8BLMT FY2020: $6.4BLMT FY2021: $7.7BLMT FY2022: $6.1BLMT FY2023: $6.2BLMT FY2024: $5.3BLMT FY2025: $6.9BRTX FY2018: $1.2BRTX FY2019: $4BRTX FY2020: $2.5BRTX FY2021: $5BRTX FY2022: $4.9BRTX FY2023: $5.5BRTX FY2024: $4.5BRTX FY2025: $7.9BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $6.9BRTX $7.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Lockheed Martin and RTX

Which is bigger by revenue, Lockheed Martin or RTX?

RTX is bigger by revenue: $88.6B in fiscal 2025, against $75B for Lockheed Martin in fiscal 2025.

Which keeps more of its revenue as profit, Lockheed Martin or RTX?

Lockheed Martin had a net margin of 6.7% in fiscal 2025; RTX had 7.6% in fiscal 2025.

Which grew revenue faster, Lockheed Martin or RTX?

In their latest fiscal years revenue changed by +5.6% at Lockheed Martin and +9.7% at RTX.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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