--- canonical_url: https://www.stockexpertai.com/zh/earnings/lmt last_updated: 2026-05-03T21:35:47.152Z --- # Lockheed Martin Corporation (LMT) Q4 FY2026 财报预览 > 此内容由 FMP 实时数据 + Q1 FY2026 财报电话会议记录自动生成。生成时间：2026-05-03T21:35:46.351Z。本工具为教育目的，不构成投资建议。 --- ## 快速摘要 | 字段 | 值 | 来源 | |---|---|---| | 价格 | $512.77 (▼ -1.00%) | fmp:quote | | 市值 | $118.2B | fmp:profile | | 52周区间 | $410.11 – $692.00 | fmp:quote | | 财报 | 周二 28 7月 | fmp:earnings-history | | EPS 预期 | $7.11 (-2% YoY) | fmp:earnings-estimate | | 营收预期 | $19.4B | fmp:earnings-estimate | | 超预期连胜 | 0/4 | fmp:earnings-history | | 评级 | B+ (overall 3/5) | fmp:ratings | | 分析师中位数目标价 | $654 (+27.5% upside) | fmp:price-target-consensus | | MoonshotScore | 21/100 | derived | | Council | 5/6 bullish | derived | | 芒格结论 | 低估 | derived | ## Lockheed Martin Corporation — Q4 FY2026 预期 Q4 季度共识：营收 $19.4B^{[FMP est]}，EPS $7.11^{[FMP est]}。连续 0 个季度超出预期^{[FMP earnings]}。 ## 快速概览 **得分：** B+ · **立场：** BUY · **Council：** 5/6 · **Moonshot：** 21 = MoonshotScore 21^{[MoonshotScore]} + Council 5/6^[Council]。Form 4: 0 笔交易^{[FMP Form 4]}。 ## 观察列表 (4个指标) ### 1. Pac3 Contract 洛克希德·马丁公司获得了价值$7 billion美元的PAC-3合同订单，突显了对我们导弹防御能力持续增长的需求。 > "MFC获得了价值$7 billion美元的PAC-3合同订单。其中包括2026年第一季度的$2.2 billion美元奖励，以及我们本月早些时候签署的$4.8 billion美元全额资助的未最终确定的PAC-3合同，从而推进了我们今年早些时候宣布的[难以辨认的]坡道生产协议中的第一个。" > — Evan Scott, Chief Financial Officer, Investor Focus · Q1 FY2026 ### 2. F35 International Commitment 洛克希德·马丁公司获得了一份价值$700 million美元的合同，为其国际项目合作伙伴采购F-35批次20和21的长期材料，这进一步表明，盟国正在继续致力于F-35项目，因为该飞机在实战中不断证明自己的价值。 > "在Aeronautics，我们获得了一份价值$700 million美元的合同，为其国际项目合作伙伴采购F-35批次20和21的长期材料。这进一步表明，盟国正在继续致力于F-35项目，因为该飞机在实战中不断证明自己的价值。" > — Evan Scott, Chief Financial Officer, Investor Focus · Q1 FY2026 ### 3. F16 Peru Contract 洛克希德·马丁公司与秘鲁空军签订了一份价值15亿美元的合同，购买12架Block 70 F-16战斗机，并有机会再购买12架飞机组成第二个中队。 > "就在上周一，洛克希德·马丁公司与秘鲁空军签订了一份价值$1.5 billion美元的合同，购买12架Block 70 F-16战斗机，并有机会再购买12架飞机组成第二个中队。" > — James Taiclet, Chairman, President and Chief Executive Officer, Investor Focus · Q1 FY2026 ### 4. Artemis Mission Success Artemis 2的宇航员和美国宇航局的专门团队使用洛克希德·马丁公司的Orion宇宙飞船，以近乎完美的飞行和回收完成了他们的历史性任务。 > "Artemis 2的宇航员和美国宇航局的专门团队使用我们的猎户座宇宙飞船完成了他们的历史性任务，并实现了近乎完美的飞行和回收。" > — James Taiclet, Chairman, President and Chief Executive Officer, Investor Focus · Q1 FY2026 ## MoonshotScore 支柱 | 支柱 | 得分 | 水平 | 证据 | |---|---|---|---| | 营收增长 | 0.0 | weak | Q1 vs Q2: 负增长 (-%0.7，收缩) | | 毛利率 | 1.0 | weak | Q1: 低毛利率 (%11.5，资本密集型或大宗商品) | | 经营杠杆 | 1.0 | weak | 营业利润率平均 (%11.4) | | 现金流储备 | 3.0 | weak | FCF 为负 ($-0.3B，需要外部融资) | | 研发投入强度 | 3.0 | weak | 低研发投资 (%0.9，创新薄弱) | | 价格动能 | 4.0 | medium | RSI 22.9 超卖，50日均线之下 | | 新闻情绪 | 3.0 | weak | 混合 (30% 买入) | **公式:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7视角) | 名称 | 立场 | 背景 | |---|---|---| | Ray Dalio | bull | 宏观 · 目标上涨空间 +27.5% | | Ken Griffin | bear | 资金流 · 50日均线之下 | | Jim Simons | bull | 量化 · RSI 23 | | Klarman | bull | 价值 · 目标上涨空间 +27.5% | | Buffett | bull | 质量 · ROE 评分 5/5 | | Munger | bull | 估值 · 目标上涨空间 +27.5% | **公式:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## 芒格视角 - **结论:** 低估 - **财务健康:** Moderate - **安全边际:** Strong - **利息覆盖率:** Adequate - **ROIC vs WACC:** Healthy **公式:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## 技术水平 - **RSI(14):** 22.9 — oversold (RSI 22.9) — tepki alımı potansiyeli - **50日均线:** $615 — hisse %16.6 altında — kısa vadeli direnç - **200日均线:** $524 — hisse %2.2 altında — uzun vadeli baskı - **成交量 (10日):** -30% ## 历史表现 (4个季度) | 季度 | 实际 EPS | 预期 EPS | 结果 | 反应 | |---|---|---|---|---| | Q2 FY25 | $7.29 | $6.52 | BEAT | +2.1% | | Q3 FY25 | $6.95 | $6.38 | BEAT | -0.5% | | Q4 FY25 | $5.80 | $7.07 | MISS | +1.9% | | Q1 FY26 | $6.44 | $6.74 | +-4.5% EPS | -3.1% | Q1 (2026年4月23日): EPS $6.44 vs 预期 $6.74^[FMP]，超出 +%-4.5。D+1 走势：-3.1%^{[FMP D+1]}。尽管超出预期，但股价下跌 — 市场对指引而非数据做出反应。 ## 3种情景 ### 情景 A · 超预期 **Q4 EPS > $7.11 + 资本支出纪律** 阈值：EPS > $7.11^{[FMP est]}。目标：突破中位数目标价 $654^{[FMP target]}；高目标价 $700^[FMP] 为上限。 ### 情景 B · 符合预期 **EPS ≈ $7.11 + CapEx < $511.0M** 阈值：EPS ≈ $7.11^{[FMP est]}，Q4 资本支出 < $511.0M^[FMP]。目标：在当前价 $513^[FMP] 与中位数目标价 $654^[FMP] 区间内盘整。 ### 情景 C · 未达预期 **EPS < $6.90 或 CapEx ≥ $511.0M** 阈值：EPS < $6.90^{[FMP est×0.97]}。目标：当前价 $513 低于 200日均线 $524^[FMP]，若持续拒绝，则激活 $446^[derived] 支撑位。 ## 风险提示 ### {{segment}} 低于阈值 Q1 季度：EPS $6.44 vs 预期 $6.74^[FMP]，超出预期，股价 D+1 -3.1%^[FMP]。 ### 对 OpenAI 的依赖 Q1 财报电话会议中未披露 RPO/积压集中度。 ### 内幕交易 Form 4 数据已在表格中标记 — 本页面不为此股票生成假设。 | 高管 | 操作 | 金额 | 日期 | |---|---|---|---| **净额:** — (0 笔交易 · 0 笔卖出 · 0 笔买入) · Q1 FY26 ### 资本支出冲击 Q1 季度资本支出 $511.0M^{[FMP cashflow]}。 Q1 营业利润率 %11.4^{[FMP op margin]} — Q4 的这一水平对资本支出修订风险敏感。 ## 华尔街共识 - **中位数目标价:** $654 (+27.5% upside vs current $513) - **高 / 低:** $700 / $517 - **买入 / 持有 / 卖出:** 7 / 15 / 1 - **分析师数量:** 6 (上一季度), 77 历史总数 ## 额外财报电话会议洞察 ### 1. f16_peru_contract **主张:** Lockheed Martin secured a $1.5 billion contract with the Peruvian Air Force for 12 Block 70 F-16 fighters, with an opportunity for a second squadron of an additional 12 aircraft. **证据 (会议记录):** "Just this past Monday, Lockheed Martin signed a $1.5 billion contract with the Peruvian Air Force for 12 Block 70 F-16 fighters with an opportunity for a second squadron of an additional 12 aircraft." **数据:** $1.5 billion, 12, 12 ### 2. artemis_mission_success **主张:** The Artemis 2 crew and the dedicated teams at NASA completed their historical mission with a near flawless flight and recovery using Lockheed Martin's Orion spacecraft. **证据 (会议记录):** "Artemis 2 crew and the dedicated teams at NASA completed their historical mission and a near flawless flight and recovery using our Orion spacecraft." **数据:** 2 ### 3. munitions_production_increase **主张:** Lockheed Martin announced plans to quadruple Prism production to meet accelerated demand following Prism's first use in active operations. **证据 (会议记录):** "In the weeks following Prism's first use in active operations, we announced plans to quadruple production to meet accelerated demand." **数据:** — ### 4. pac3_contract **主张:** Lockheed Martin was awarded $7 billion in orders for PAC-3 contracts, underscoring the sustained and growing demand for our missile defense capabilities. **证据 (会议记录):** "MFC was awarded $7 billion in orders for PAC-3 contracts. This includes 1 award for $2.2 billion from the first quarter of 2026 and a $4.8 billion fully funded undefinitized PAC-3 contract we signed earlier this month, advancing the first of the [indiscernible] ramp production agreements we announced earlier this year." **数据:** $7 billion, $2.2 billion, 2026, $4.8 billion ### 5. f35_international_commitment **主张:** Lockheed Martin secured a $700 million contract to procure long-lead materials for F-35 lots 20 and 21 for our international program partners, a further signal that Allied nations are continuing their commitment to the F-35 program as the aircraft consistently proves itself in live combat. **证据 (会议记录):** "At Aeronautics, we secured a $700 million contract to procure long-lead materials for F-35 lots 20 and 21 for our international program partners. A further signal that Allied nations are continuing their commitment to the F-35 program as the aircraft consistently proves itself in live combat." **数据:** $700 million, 20, 21 ### 6. rms_blackhawk_autonomy **主张:** Lockheed Martin is far down the road in converting the Black Hawk to both pilot optional and fully autonomous operations to capitalize on its range payload and survivability in contested environments. **证据 (会议记录):** "We are also far down the road in converting the Black Hawk to both pilot optional and fully autonomous operations to capitalize on its range payload and survivability in contested environments." **数据:** — --- *数据来源：FMP (实时查询，2026-05-03)，Q1 FY2026 财报电话会议记录 (由 Gemini 2.0 Flash 翻译成中文)。本工具为教育目的，不构成投资建议。*