Defense Giant Lockheed Martin Just Got a Little Bigger

Impact · against what's priced in

The closing of the Ultra Maritime acquisition is a neutral event for LMT as the resulting revenue and margin gains are marginal compared to the larger growth and margin targets the market currently rejects. The transaction confirms existing scale but does not provide the catalyst needed to shift the stock's valuation toward bull-case targets.

LMT+0.05

Already priced in

The price assumes

implied revenue CAGR (reverse DCF): 5.7%

Adding approximately $1B in revenue via Ultra Maritime is a minor increment that fits within the 5.7% revenue growth the price already assumes, rather than triggering the acceleration the market currently declines.

What LMT's price assumes · Sep 11

• m and a
• LMT
• acquisition
• aerospace
• defense
• military contracting
• sonar
• undersea warfare

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