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Lockheed Martin shifts to stable growth with $230B backlog, driven by missiles, F-35, and radar projects.

Analyst Insights
08 Oct 2026
Seeking Alpha
View Source
Bullish
Lockheed Martin shifts to stable growth with $230B backlog, driven by missiles, F-35, and radar projects.

Lockheed Martin is entering a more stable growth phase supported by strong missile production, increasing F-35 volumes, and radar projects. The company’s backlog has reached $230.4 billion, with about 30% expected to convert to revenue within the next 12 months, providing better revenue visibility. An analyst assigns a Buy rating with a $561 fair value estimate, projecting a 13% total return potential based on 2027 earnings estimates. Key risks include fixed-price contract losses, backlog quality, and capital allocation concerns related to recent acquisitions and debt levels.

Lockheed Martin shares are trading at USD 504.44 on Pluang, showing a 1.05% increase as of Oct 08, 2026 21:22 WIB. The stock has a market cap of $115.22 billion and a dividend yield of 2.76%, with nearly balanced order activity between buyers and sellers.

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