The latest data point for LMT's P/B Ratio in Q1'26 stands at 18.38, reflecting a moderate decline from the peak of 21.31 observed in Q4'25, yet remaining well above the series average. Over the period from Q2'23 to Q1'26, the P/B Ratio exhibits an overall upward trend, starting at 12.31 and climbing to a high of 21.31, driven by consistent growth through Q2'24 before entering a phase of volatility with fluctuations between 16.20 and 21.31 in the latter half. Key inflection points include a sharp rise from 11.80 in Q3'23 to 15.54 in Q4'23, followed by sustained elevation above 16.00 from Q1'24 onward, indicating strong market valuation relative to book value despite recent softening. This area chart pattern suggests robust investor confidence in LMT's fundamentals, tempered by short-term corrections.