---
title: "Lockheed Martin (LMT) Looks Undervalued in a Long Restocking Cycle"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300012275.md"
description: "Lockheed Martin (LMT) is viewed as undervalued due to a long restocking cycle driven by global conflicts and NATO defense investment increases. The company is securing long contracts and expanding capacity, supported by a record $230.4 billion backlog and expected 8% sales growth. Trading at 17.2x the 2026 EPS estimate, the stock's valuation is considered modest relative to its fundamentals, leading to a bullish forecast."
datetime: "2026-09-24T10:07:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300012275.md)
  - [en](https://longbridge.com/en/news/300012275.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300012275.md)
generator: "portal-rs"
---

# Lockheed Martin (LMT) Looks Undervalued in a Long Restocking Cycle

Lockheed Martin (LMT) looks undervalued in today's long restocking cycle, in my view. The defense giant is no longer selling into a routine defense-budget cycle. The wars in Ukraine and the Middle East have exposed thin weapons inventories. Meanwhile, NATO allies have committed to sharply increasing defense investment.

Lockheed is turning that urgency into long contracts and new manufacturing capacity. Today, the stock trades at about 17.2x the latest 2026 consensus earnings per share (EPS) estimate. I believe that's a modest valuation beside a record $230.4 billion backlog and management's forecast for roughly 8% sales growth this year. Thus, my LMT stock forecast remains bullish.

### Related Stocks

- [LMT.US](https://longbridge.com/en/quote/LMT.US.md)
- [LMTL.US](https://longbridge.com/en/quote/LMTL.US.md)
- [LMTS.US](https://longbridge.com/en/quote/LMTS.US.md)

## Related News & Research

- [Soaring Defense Spending Means Great News for These 2 Stocks](https://longbridge.com/en/news/300690208.md)
- [Lockheed’s Sikorsky wins U.S. Army deal for 16 Black Hawk helicopters](https://longbridge.com/en/news/300592610.md)
- [Lockheed Martin launches Quantum Innovation Center to accelerate quantum R&D for national security missions](https://longbridge.com/en/news/299908889.md)
- [Key facts: Lockheed Martin wins $1.2B PrSM IDIQ; LMT $535.40 +0.38%](https://longbridge.com/en/news/299727570.md)
- [LMT Stock Soars as Lockheed Martin Raises Annual Forecast](https://longbridge.com/en/news/293661849.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**