Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Lockheed Martin Corporation (LMT) Halal?

FAIL

Lockheed Martin Corporation · NYSE: LMT · Industrials

The short answer

No — Lockheed Martin (LMT) fails this Shariah stock screen. The Bethesda, Maryland company is one of the world's largest defense contractors: its FY2025 Form 10-K (filed January 2026; SEC CIK 0000936468) describes it as a "global aerospace and defense technology company" offering "integrated solutions, at scale, across all warfighting domains," and weapons/defense manufacturing is a haram business segment under this site's screen. It is not a side activity — it is the entire core business: 72% of FY2025's $75.0 billion in sales came directly from the U.S. Government (63% from the Department of War) and 28% from international customers including foreign military sales (FMS) contracted through the U.S. Government. The financial gates pass factually — $20,538M of interest-bearing debt is 17.61% of the ~$116.66B market cap (October 1, 2026), under the ~33% ceiling, and the 10-K discloses no separate interest income (Zoya also reports $0, 0% of revenue) — but a failure at the business-activities gate is disqualifying. Zoya flags LMT as not Shariah-compliant (updated September 2026). This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

Lockheed Martin Corporation (NYSE: LMT), formed in 1995 and headquartered in Bethesda, Maryland, is a global aerospace and defense technology company. Its FY2025 Form 10-K (filed January 2026; SEC CIK 0000936468) states it "builds and sustains the solutions America and its allies need to deter conflict and advance national security," and its four business areas — Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space — work "as one company offering integrated solutions, at scale, across all warfighting domains." Products: F-35 Lightning II and F-22 Raptor stealth fighters, F-16 and C-130 aircraft; PAC-3 and THAAD missile defense, JASSM, LRASM, HIMARS and Javelin missiles; Black Hawk military helicopters and naval combat systems; satellites, missile defense and strategic deterrence programs. Business-screen implication (factual): "In 2025, 72% of our $75.0 billion in sales were from the U.S. Government, either as a prime contractor or as a subcontractor (including 63% from the Department of War)... and 28% were from international customers (including foreign military sales (FMS) contracted through the U.S. Government)" — i.e., virtually all revenue is weapons, military systems and defense sales. Weapons/defense manufacturing is a haram segment under this site's screen, and it is the core business, not an incidental line. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: PASS

Per Lockheed Martin's Q2 2026 results (announced July 23, 2026; SEC CIK 0000936468), the condensed consolidated balance sheet as of June 28, 2026 shows long-term debt, net of $20,538M and current maturities of long-term debt of $0 — total interest-bearing debt of $20,538M (about $20.54B). Against a market cap of about $116.66B (stockanalysis.com, October 1, 2026, NYSE: LMT), debt ÷ market cap is 20.538 ÷ 116.66 = 17.61% — below the ~33% ceiling. The FY2025 Form 10-K reports total debt, net of $21,700M at December 31, 2025. Cash and cash equivalents at June 28, 2026 were $3,791M. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

Lockheed Martin's FY2025 Form 10-K discloses no separate interest income line: "Other nonoperating income, net" was $183M, which "primarily includes gains or losses related to adjustments in valuation of early-stage company investments or gains or losses upon the sale of these investments and interest income earned on cash and cash equivalents" — interest income is not broken out from this total. Interest expense for FY2025 was $1,118M. Zoya (zoya.finance/stocks/lmt; updated September 2026) likewise reports no separately disclosed interest income — $0, representing 0% of FY2025 revenue ($75,057M per Zoya; $75,048M per the 10-K financial highlights). No non-compliant interest income is verifiably reported, so the income gate passes. This does not change the overall FAIL, which rests on the business-activities gate. Facts only.

Key figures used

Frequently asked questions

What does Lockheed Martin do?

Lockheed Martin Corporation, formed in 1995 and headquartered in Bethesda, Maryland, is a global aerospace and defense technology company. Its FY2025 Form 10-K (filed January 2026; SEC CIK 0000936468) describes it as building and sustaining "the solutions America and its allies need to deter conflict and advance national security" across four business areas — Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space — "offering integrated solutions, at scale, across all warfighting domains." Products include the F-35 Lightning II, F-22 Raptor, F-16 and C-130 aircraft; PAC-3, THAAD, JASSM, LRASM, HIMARS and Javelin missile systems; Black Hawk military helicopters and naval combat systems; and satellites, missile defense and strategic deterrence programs. FY2025 net sales were $75,048M: 72% came directly from the U.S. Government (including 63% from the Department of War) and 28% from international customers, including foreign military sales (FMS) contracted through the U.S. Government — so essentially the entire business is defense and military sales.

Why does LMT fail this Shariah stock screen?

LMT fails this Shariah stock screen at Gate 1 (business activities), and one failed gate means an overall FAIL. Weapons and defense manufacturing is a haram business segment under this site's screen, and it is Lockheed Martin's core business — not a side activity. The FY2025 Form 10-K reports that 72% of $75.0B in sales came from the U.S. Government (63% from the Department of War) and 28% from international customers including foreign military sales through the U.S. Government, i.e. virtually all revenue is military and defense. Gate 2 (debt) passes factually: $20,538M of interest-bearing debt is 17.61% of the ~$116.66B market cap, under the ~33% ceiling. Gate 3 (non-compliant income) passes factually: the 10-K discloses no separate interest income line (interest income on cash is embedded, unbroken out, in "Other nonoperating income, net" of $183M), and Zoya likewise reports no separate interest income ($0, 0% of revenue). But a failure at the business-activities gate is disqualifying. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is LMT's interest-bearing debt ratio?

Per Lockheed Martin's Q2 2026 results (announced July 23, 2026; SEC CIK 0000936468), the condensed consolidated balance sheet as of June 28, 2026 shows long-term debt, net of $20,538M and current maturities of long-term debt of $0 — total interest-bearing debt of $20,538M (about $20.54B). Against a market cap of about $116.66B (stockanalysis.com, October 1, 2026, NYSE: LMT), debt ÷ market cap is 20.538 ÷ 116.66 = 17.61% — below the ~33% ceiling. The FY2025 Form 10-K reports total debt, net of $21,700M at December 31, 2025. Cash and cash equivalents at June 28, 2026 were $3,791M. The debt gate passes factually.

What is LMT's non-compliant income ratio?

Lockheed Martin's FY2025 Form 10-K discloses no separate interest income line — "Other nonoperating income, net" was $183M, which "primarily includes gains or losses related to adjustments in valuation of early-stage company investments ... and interest income earned on cash and cash equivalents," so interest income is not broken out from this total. Interest expense for FY2025 was $1,118M. Zoya (zoya.finance/stocks/lmt; updated September 2026) likewise reports no separately disclosed interest income — $0, representing 0% of FY2025 revenue ($75,057M per Zoya; $75,048M per the 10-K financial highlights). No non-compliant interest income is verifiably reported, so the income gate passes factually. This does not change the overall FAIL, which rests on the business-activities gate.

Do Zoya, Musaffa, or ShariaPortfolio cover LMT?

Zoya covers LMT (zoya.finance/stocks/lmt; updated September 2026) and flags it as "not Shariah-compliant and therefore not considered halal to invest in" based on Lockheed Martin's latest financial reports; it reports FY2025 revenue of $75,057M and no separately disclosed interest income ($0, 0%). Musaffa: no LMT page was found via public search — no coverage found. ShariaPortfolio: no LMT stock entry found via public search — no coverage found (a separate investment fund called Shariaportfolio Inc. exists but is unrelated to stock screening). All honestly reported as found, not invented. This page applies the screen directly from Lockheed Martin's own filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).