Lockheed Martin ($LMT) filed a 10K annual report for 2010 recently so here's an update to the cash flow valuation I posted February 15. This update incorporates the firm's year-end 2010 data. I believe $LMT is fairly valued at $85/share on a cash flow valuation basis.
Lockheed Martin is the world's largest defense contractor with 2010 sales of $45.8 billion. The firm operates in four reporting segments--aeronautics, electronic systems, space systems, and information and global services. Bethesda, Md.-based Lockheed employs 140,000 people.