LMT · 10-Q · 2026Q3 · Full report

Cash Flow and Capital Expenditures

LOCKHEED MARTIN CORP · 2026-10-22 · Importance 59 · Surprise 48 · From source text

Net cash provided by operating activities increased $1.555 billion to $6.893 billion for the nine months ended September 27, 2026, primarily because of higher customer receipts and lower tax payments. Free cash flow rose $1.473 billion to $5.625 billion, compared with $4.152 billion in the prior-year period. Capital expenditures were $1.268 billion, up from $1.186 billion, and principally funded equipment, facilities infrastructure, and information technology across business segments. Working capital used $864 million of cash in the 2026 period, compared with $1.553 billion in the prior-year period.

Key facts

• Nine-month net cash provided by operating activities was $6.893 billion, compared with $5.338 billion in 2025. source
• Nine-month capital expenditures were $1.268 billion in 2026 and $1.186 billion in 2025; free cash flow was $5.625 billion and $4.152 billion, respectively. source
• Nine-month free cash flow increased $1.5 billion compared with 2025, primarily due to operating cash-flow drivers. source
• Capital expenditures totaled $1.3 billion in the nine months ended September 27, 2026 and $1.2 billion in the nine months ended September 28, 2025. source
• Nine-month net cash used for investing activities was $1.360 billion, compared with $1.464 billion in 2025. source
• Nine-month operating cash flow increased $1.6 billion year over year, primarily due to higher 2026 customer receipts and lower tax payments reflecting the Tax Act and Treasury Notice. source

Impact estimates