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OWL LABS EQUITY RESEARCH

LMT · SIGNATURE REPORT OWL-260731-LMT · JULY 31, 2026

SIGNATURE QUANT PROFILE · INDUSTRIALS

Lockheed Martin LMT · NYSE

Industrials · USD listed

OWL VERDICT

BALANCED CASE

Grade B · Score 72 / 100

⚠ Failed primary financial screen

LAST PRICE

$574.11

▲ +0.9%

OWL FAIR VALUE

$646.57

+12.6% vs price

STREET TARGET

$625.16

+8.9% · 19 analysts

MARKET CAP

$132.5B

div yield 2.40%

P/E · P/B

21.0 · 15.1

ROE 74.6%

52-WEEK RANGE

412.6–692.0

now at 58th pctile

Investment Summary

Quality vs. price, measured. Quality axes (ROE 74.6%, op. margin 10.3%) score 30/40; value axes (P/E 21.0x, P/B 15.06x, EV/EBITDA, dividend) score 40/80. The composite 72/100 (grade B) is that arithmetic.

Smart money holds. 2 of 9 tracked 13F managers hold LMT — 1 adding, 1 trimming this quarter. Filed positions, not opinions (details p.3).

1 of 5 value strategies pass. Greenblatt Magic Formula admits LMT; the other 4 reject on their coded rules (details p.2).

What would change this report. Model fair value is $646.57 (+12.6% vs price); The verdict changes only when the data changes — screening reruns every weekday.

THE OWL VIEW

The data reads sound but not one-sided: composite 72/100 — 1/5 value screens pass; 2 of 9 tracked managers hold. We grade LMT B; the framework says the case is solid and price is the swing variable.

Quant Scorecard 7 axes · 0–20 each · screened Thu Jul 30

P/E value

12/20

P/B value

9/20

ROE

This report aggregates Owl Labs quant modules — 7-axis screener, 5 value strategies, 9 guru 13F filings, fair-value model, technical signals and news. All figures are measured from data sources as of the date above; sentences are rule-based templates (no generative claims). The score is a fitness test of reported fundamentals against today’s price — a screener, not a forecast; forward growth is not part of the score. Not investment advice.

OWL LABS EQUITY RESEARCH

LMT · SIGNATURE REPORT OWL-260731-LMT · JULY 31, 2026

Valuation — Five Value Disciplines

SECTION 02 OF 5

Each strategy is a mechanical screen coded from the discipline's published rules — a stock either passes or it does not. LMT passes 1 of 5. Verdicts are computed, not opined; the measured inputs are shown for audit.

STRATEGY

MECHANICAL CRITERIA

VERDICT

MEASURED INPUTS

Graham Defensive

Low P/E × low P/B composite screen

FAIL

P/E×P/B 316

Greenblatt Magic Formula

Earnings yield + return on capital, top 30%

PASS

E/P 4.8% · ROE 74.6%

Prasad Deep Value

Low P/B, low leverage, positive earnings

FAIL

P/B 15.06x

Simple DCF

OWL LABS EQUITY RESEARCH

LMT · SIGNATURE REPORT OWL-260731-LMT · JULY 31, 2026

Smart-Money Positioning — 9 Tracked Managers

SECTION 03 OF 5

Holdings from SEC 13F filings (latest period 2026-03-31; filed ~45 days after quarter end — stale by design). Weight = % of the manager's disclosed US long book. 2 of 9 managers hold LMT. These are filed positions — not the managers' opinions on this stock.

MANAGER

FUND

STYLE

WEIGHT

ACTION

STYLE LENS (RULE-BASED)

Warren Buffett

Berkshire Hathaway Inc.

Value

—

NO POSITION

Value lens: P/E 21.0x · P/B 15.06x

Ray Dalio

Bridgewater Associates, LP

Macro

0.0%

TRIMMED

0.0% of disclosed book · $7M

OWL LABS EQUITY RESEARCH

LMT · SIGNATURE REPORT OWL-260731-LMT · JULY 31, 2026

Tape, Catalysts & Risk Register

SECTION 04 OF 5

Technical Readout as of Thu Jul 30

RSI (14d)65.2 — neutral

MACD vs signal+6.64 above

MA20 / MA60$537.4 / $525.64

Cross stateNone

Distance to 52-wk high-17.0%

52-wk range position58th percentile

Day change+0.9%

OWL LABS EQUITY RESEARCH

LMT · SIGNATURE REPORT OWL-260731-LMT · JULY 31, 2026

Financial Record & Final Judgment

SECTION 05 OF 5

FISCAL YEAR

FY2023

FY2024

FY2025

Revenue

$67.6B

$71.0B

$75.0B

Operating income

$8.5B

$7.0B

$7.7B

Net income

$6.9B

$5.3B

$5.0B

Op. margin

12.6%

9.9%

10.3%

Net margin

10.2%

7.5%

6.7%

ROE

101.2%

84.3%

74.6%

🦉

>_ Compiling signature report…

Merging quant score · guru 13F · 5 value strategies · fair value

Investment Summary

Smart money holds. 2 of 9 tracked 13F managers hold LMT — 1 adding, 1 trimming this quarter. Filed positions, not opinions (details p.3).

1 of 5 value strategies pass. Greenblatt Magic Formula admits LMT; the other 4 reject on their coded rules (details p.2).

What would change this report. Model fair value is $646.57 (+12.6% vs price); The verdict changes only when the data changes — screening reruns every weekday.

THE OWL VIEW

Lockheed Martin LMT · NYSE

Investment Summary

Quant Scorecard 7 axes · 0–20 each · screened Thu Jul 30

Valuation — Five Value Disciplines

Smart-Money Positioning — 9 Tracked Managers

Tape, Catalysts & Risk Register

Technical Readout as of Thu Jul 30

Financial Record & Final Judgment

Lockheed Martin LMT · NYSE

Investment Summary

Quant Scorecard 7 axes · 0–20 each · screened Thu Jul 30

Valuation — Five Value Disciplines

Smart-Money Positioning — 9 Tracked Managers

Tape, Catalysts & Risk Register

Technical Readout as of Thu Jul 30

Financial Record & Final Judgment

Fair-Value Bridge method blend, measured

Sensitivity value per share

Catalyst Calendar

Forward Signals (unscored) consensus data · never scored

Risk Register

News Digest RSS · external media

Methodology & how to use