LMT Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	117.61B EUR	117.18B EUR	139.29B EUR	110.76B EUR
Enterprise Value	133.96B EUR	133.92B EUR	158.09B EUR	128.34B EUR
Valuation Multiples
Trailing P/E	18.78x	18.64x	29.06x	33.51x
Forward P/E	15.61x	--	--	--
Price to Sales	1.53x	1.52x	1.85x	1.94x
Price to Book	13.37x	13.36x	18.6x	16.48x
EV/Revenue	1.74x	1.74x	2.1x	2.25x
EV/EBITDA	13.84x	13.1x	18.67x	21.3x
Price to FCF (P/FCF)	21.14x	13.42x	24.6x	18.61x
EV/FCF	24.08x	15.34x	27.92x	21.56x
FCF Yield	4.73%	7.45%	4.06%	5.37%