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Acquired / Case file

Lockheed Martin

Defence contracting as a multi-decade strategic relationship.

Latest filing on file · 2025-12-31

Revenue
$75.0B
FY2025 · USD
10-K · period ended 2025-12-31Source
Operating cash flow
$8.6B
FY2025 · USD
10-K · period ended 2025-12-31Source
Capital expenditures
$1.6B
FY2025 · USD
10-K · period ended 2025-12-31Source

Overview

Business model and origins

Turn frontier aerospace engineering into mission-critical systems whose customer relationship lasts for decades.

1 episode2023-05 case file as of

Origin

The modern company combines two aviation lineages: the Lockheed brothers' aircraft business and Glenn Martin's aircraft company. Their 1995 merger created Lockheed Martin, while the Skunk Works operating model preserved a small-team path for unusually hard programs.