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

Lockheed Martin brought in $75B of revenue in fiscal 2025, Tesla $94.8B in fiscal 2025. Revenue changed by +5.6% at Lockheed Martin and -2.9% at Tesla on the year before, so Lockheed Martin grew faster. Lockheed Martin kept 6.7% of its revenue as net profit, Tesla 4.0%. Free cash flow was $6.9B at Lockheed Martin and $6.2B at Tesla.

Open the LMT pageOpen the TSLA page

Side by side, latest fiscal year

LMTTSLA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$75B$94.8B
Revenue growth+5.6%-2.9%
Net income$5B$3.8B
Net margin6.7%4.0%
Free cash flow$6.9B$6.2B
Free cash flow margin9.2%6.6%
Earnings per share (diluted)$21.49$1.08
Cash$4.1B$16.5B
Debt$21.7B$6.6B
Price to earnings24.2344.6
Market value$119.9B$1.47T
Dividend yield2.57%n/a
Rank by revenue in sector#7 of 451 · Industrials#3 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: $75BTSLA FY2018: $21.5BTSLA FY2019: $24.6BTSLA FY2020: $31.5BTSLA FY2021: $53.8BTSLA FY2022: $81.5BTSLA FY2023: $96.8BTSLA FY2024: $97.7BTSLA FY2025: $94.8BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $75BTSLA $94.8B
Net income
LMT FY2018: $5BLMT FY2019: $6.2BLMT FY2020: $6.8BLMT FY2021: $6.3BLMT FY2022: $5.7BLMT FY2023: $6.9BLMT FY2024: $5.3BLMT FY2025: $5BTSLA FY2018: -$976MTSLA FY2019: -$862MTSLA FY2020: $721MTSLA FY2021: $5.5BTSLA FY2022: $12.6BTSLA FY2023: $15BTSLA FY2024: $7.1BTSLA FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $5BTSLA $3.8B
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%TSLA FY2018: -4.5%TSLA FY2019: -3.5%TSLA FY2020: 2.3%TSLA FY2021: 10.3%TSLA FY2022: 15.4%TSLA FY2023: 15.5%TSLA FY2024: 7.3%TSLA FY2025: 4.0%FY18FY19FY20FY21FY22FY23FY24FY25
LMT 6.7%TSLA 4.0%
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%TSLA FY2019: +14.5%TSLA FY2020: +28.3%TSLA FY2021: +70.7%TSLA FY2022: +51.4%TSLA FY2023: +18.8%TSLA FY2024: +0.9%TSLA FY2025: -2.9%FY19FY20FY21FY22FY23FY24FY25
LMT +5.6%TSLA -2.9%
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: $6.9BTSLA FY2018: -$3MTSLA FY2019: $1.1BTSLA FY2020: $2.8BTSLA FY2021: $5BTSLA FY2022: $7.6BTSLA FY2023: $4.4BTSLA FY2024: $3.6BTSLA FY2025: $6.2BFY18FY19FY20FY21FY22FY23FY24FY25
LMT $6.9BTSLA $6.2B

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

Questions about Lockheed Martin and Tesla

Which is bigger by revenue, Lockheed Martin or Tesla?

Tesla is bigger by revenue: $94.8B in fiscal 2025, against $75B for Lockheed Martin in fiscal 2025.

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

Lockheed Martin had a net margin of 6.7% in fiscal 2025; Tesla had 4.0% in fiscal 2025.

Which grew revenue faster, Lockheed Martin or Tesla?

In their latest fiscal years revenue changed by +5.6% at Lockheed Martin and -2.9% at Tesla.

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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