Lockheed Martin (LMT) Financials

$476.42 +7.54 (+1.61%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$477.50 +1.08 (+0.23%)

As of 04:29 AM Eastern

Annual Income Statements for Lockheed Martin

This table shows Lockheed Martin's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	5,336	6,920	5,732	6,315	6,833	6,230	5,046	1,963	5,173	3,605
Consolidated Net Income / (Loss)	5,336	6,920	5,732	6,315	6,833	6,230	5,046	1,963	5,173	3,605
Net Income / (Loss) Continuing Operations	5,336	6,920	5,732	6,315	6,888	6,230	5,046	1,890	3,661	3,126
Total Pre-Tax Income	6,220	8,098	6,680	7,550	8,235	7,241	5,838	5,246	4,754	4,299
Total Operating Income	7,013	8,507	8,348	9,123	8,644	8,545	7,334	6,744	5,888	4,712
Total Gross Profit	6,930	8,479	8,287	9,061	8,654	8,367	7,274	6,371	5,401	4,492
Total Revenue	71,043	67,571	65,984	67,044	65,398	59,812	53,762	49,960	47,290	40,536
Operating Revenue	71,043	67,571	65,984	67,044	65,398	59,812	53,762	49,960	47,290	40,536
Total Cost of Revenue	64,113	59,092	57,697	57,983	56,744	51,445	46,488	43,589	41,889	36,044
Operating Cost of Revenue	64,026	59,000	57,597	57,983	56,744	51,445	46,488	43,589	41,889	36,044
Total Operating Expenses	-83	-28	-61	-62	10	-178	-60	-373	-487	-220
Other Operating Expenses / (Income)	-83	-28	-61	-62	10	-178	-60	-373	-487	-220
Total Other Income / (Expense), net	-793	-409	-1,668	-1,573	-409	-1,304	-1,496	-1,498	-1,134	-413
Interest Expense	1,036	916	623	569	591	653	668	651	663	443
Other Income / (Expense), net	243	507	-1,045	288	-37	-651	-828	-847	-471	30
Income Tax Expense	884	1,178	948	1,235	1,347	1,011	792	3,356	1,093	1,173
Basic Earnings per Share	$22.39	$27.65	$21.74	$22.85	$24.40	$22.09	$17.74	$6.82	$17.28	$11.62
Weighted Average Basic Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	284.50M	287.80M	299.40M	310.30M
Diluted Earnings per Share	$22.31	$27.55	$21.66	$22.76	$24.30	$21.95	$17.59	$6.75	$17.07	$11.46
Weighted Average Diluted Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	284.50M	287.80M	299.40M	310.30M
Weighted Average Basic & Diluted Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	284.50M	287.80M	299.40M	310.30M
Cash Dividends to Common per Share	$12.75	$12.15	$11.40	$10.60	$9.80	$9.00	$8.20	$7.46	$6.77	$6.15

This table shows Lockheed Martin's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	9/24/2023	6/25/2023	3/26/2023	12/31/2022	9/25/2022
Net Income / (Loss) Attributable to Common Shareholders	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778
Consolidated Net Income / (Loss)	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778
Net Income / (Loss) Continuing Operations	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778
Total Pre-Tax Income	2,036	519	1,918	1,948	1,835	2,145	1,953	2,006	1,994	2,190	2,099
Total Operating Income	2,372	696	2,140	2,148	2,029	2,293	2,042	2,135	2,037	2,293	2,159
Total Gross Profit	2,323	690	2,117	2,130	1,993	2,295	2,048	2,090	2,046	2,302	2,120
Total Revenue	17,963	18,622	17,104	18,122	17,195	18,874	16,878	16,693	15,126	18,991	16,583
Operating Revenue	17,963	18,622	17,104	18,122	17,195	18,874	16,878	16,693	15,126	18,991	16,583
Total Cost of Revenue	15,640	17,932	14,987	15,992	15,202	16,579	14,830	14,603	13,080	16,689	14,463
Operating Cost of Revenue	15,640	17,932	14,987	15,905	15,202	16,487	14,830	14,603	13,080	16,589	14,463
Total Operating Expenses	-49	-6.00	-23	-18	-36	2.00	6.00	-45	9.00	9.00	-39
Other Operating Expenses / (Income)	-49	-6.00	-23	-18	-36	2.00	6.00	-45	9.00	9.00	-39
Total Other Income / (Expense), net	-336	-177	-222	-200	-194	-148	-89	-129	-43	-103	-60
Interest Expense	268	264	256	261	255	254	237	223	202	202	145
Interest & Investment Income	-98	-	16	-	16	-	111	111	110	-	111
Other Income / (Expense), net	30	119	18	61	45	438	37	-17	49	-1,121	-26
Income Tax Expense	324	-8.00	295	307	290	279	269	325	305	278	321
Basic Earnings per Share	$7.30	$2.27	$6.83	$6.87	$6.42	$7.62	$6.75	$6.65	$6.63	$7.39	$6.73
Weighted Average Basic Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Diluted Earnings per Share	$7.28	$2.27	$6.80	$6.85	$6.39	$7.58	$6.73	$6.63	$6.61	$7.35	$6.71
Weighted Average Diluted Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Weighted Average Basic & Diluted Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Cash Dividends to Common per Share	$3.30	-	$3.15	$3.15	$3.15	-	$3.00	$3.00	$3.00	-	$2.80

This table details how cash moves in and out of Lockheed Martin's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	1,041	-1,105	-1,057	444	1,646	742	-2,089	1,024	747	-356
Net Cash From Operating Activities	6,972	7,920	7,802	9,221	8,183	7,311	3,138	6,476	5,189	5,101
Net Cash From Continuing Operating Activities	6,972	7,920	7,802	9,221	8,183	7,311	3,138	6,476	5,189	5,101
Net Income / (Loss) Continuing Operations	5,336	6,920	5,732	6,315	6,833	6,230	5,046	1,963	5,173	3,605
Consolidated Net Income / (Loss)	5,336	6,920	5,732	6,315	6,833	6,230	5,046	1,963	5,173	3,605
Depreciation Expense	1,559	1,430	1,404	1,364	1,290	1,189	1,161	1,195	1,215	1,026
Non-Cash Adjustments To Reconcile Net Income	2,220	-463	69	894	-20	516	-1,211	277	-2,303	240
Changes in Operating Assets and Liabilities, net	-2,143	33	597	648	80	-624	-1,858	3,041	1,104	230
Net Cash From Investing Activities	-1,792	-1,694	-1,789	-1,161	-2,010	-1,241	-1,075	-1,147	-985	-9,734
Net Cash From Continuing Investing Activities	-1,792	-1,694	-1,789	-1,161	-2,010	-1,241	-1,075	-1,147	-985	-9,734
Purchase of Property, Plant & Equipment	-1,685	-1,691	-1,670	-1,522	-1,766	-1,484	-1,278	-1,177	-1,063	-939
Other Investing Activities, net	-107	-3.00	-119	361	-244	243	203	30	78	208
Net Cash From Financing Activities	-4,139	-7,331	-7,070	-7,616	-4,527	-5,328	-4,152	-4,305	-3,457	4,277
Net Cash From Continuing Financing Activities	-4,139	-7,331	-7,070	-7,616	-4,527	-5,328	-4,152	-4,305	-3,457	4,277
Repayment of Debt	-350	-250	-2,365	-589	-1,794	-1,572	-913	-141	-1,113	-5,995
Repurchase of Common Equity	-3,700	-6,000	-7,900	-4,087	-1,100	-1,200	-1,492	-2,001	-2,096	-3,071
Payment of Dividends	-3,059	-3,056	-3,016	-2,940	-2,764	-2,556	-2,347	-2,163	-2,048	-1,932
Issuance of Debt	2,970	1,975	6,211	0.00	1,131	0.00	600	0.00	0.00	15,101

This table details how cash moves in and out of Lockheed Martin's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	9/24/2023	6/25/2023	3/26/2023	12/31/2022	9/25/2022
Net Change in Cash & Equivalents	-680	-668	628	-267	1,348	-2,109	-122	1,233	-107	117	655
Net Cash From Operating Activities	1,409	1,023	2,438	1,876	1,635	2,365	2,891	1,100	1,564	1,928	3,133
Net Cash From Continuing Operating Activities	1,409	1,023	2,438	1,876	1,635	2,365	2,891	1,100	1,564	1,928	3,133
Net Income / (Loss) Continuing Operations	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778
Consolidated Net Income / (Loss)	1,712	527	1,623	1,641	1,545	1,866	1,684	1,681	1,689	1,912	1,778
Depreciation Expense	397	459	390	359	351	421	350	334	325	439	293
Non-Cash Adjustments To Reconcile Net Income	-1,660	2,945	-242	323	-806	603	-522	270	-814	158	-519
Changes in Operating Assets and Liabilities, net	960	-2,908	667	-447	545	-525	1,379	-1,185	364	-581	1,581
Net Cash From Investing Activities	-430	-838	-210	-372	-372	-703	-398	-334	-259	-808	-398
Net Cash From Continuing Investing Activities	-430	-838	-210	-372	-372	-703	-398	-334	-259	-808	-398
Purchase of Property, Plant & Equipment	-454	-582	-355	-370	-378	-704	-364	-329	-294	-693	-405
Other Investing Activities, net	24	-256	145	-2.00	6.00	1.00	-34	-5.00	35	-115	7.00
Net Cash From Financing Activities	-1,659	-853	-1,600	-1,771	85	-3,771	-2,615	467	-1,412	-1,003	-2,080
Net Cash From Continuing Financing Activities	-1,659	-853	-1,600	-1,771	85	-3,771	-2,615	467	-1,412	-1,003	-2,080
Repayment of Debt	-113	-65	-1.00	-169	-115	-4.00	-118	-	-128	25	-3.00
Repurchase of Common Equity	-750	-1,000	-850	-850	-1,000	-3,000	-1,750	-750	-500	-4,206	-1,338
Payment of Dividends	-796	-778	-749	-752	-780	-767	-747	-758	-784	-766	-739
Issuance of Debt	0.00	990	-	-	1,980	-	-	1,975	0.00	3,944	-

This table presents Lockheed Martin's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	55,617	52,456	52,880	50,873	50,710	47,528	44,876	46,620	47,806	49,304
Total Current Assets	21,849	20,521	20,991	19,815	19,378	17,095	16,103	17,505	15,108	14,573
Cash & Equivalents	2,483	1,442	2,547	3,604	3,160	1,514	772	2,861	1,837	1,090
Accounts Receivable	2,351	2,132	2,505	1,963	1,978	2,337	2,444	2,265	8,202	7,254
Inventories, net	3,474	3,132	3,088	2,981	3,545	3,619	2,997	2,878	4,670	4,819
Other Current Assets	13,541	13,815	12,851	11,267	10,695	9,625	9,890	9,501	399	441
Plant, Property, & Equipment, net	8,726	8,370	7,975	7,597	7,213	6,591	6,124	5,775	5,549	5,389
Total Noncurrent Assets	25,042	23,565	23,914	23,461	24,119	23,842	22,649	23,340	27,149	29,342
Goodwill	11,067	10,799	10,780	10,813	10,806	10,604	10,769	10,807	10,764	10,695
Intangible Assets	2,015	2,212	2,459	2,706	3,012	3,213	3,494	3,797	4,093	4,022
Noncurrent Deferred & Refundable Income Taxes	3,557	2,953	3,744	2,290	3,475	3,319	3,208	3,156	6,625	6,068
Other Noncurrent Operating Assets	8,403	7,601	6,931	7,652	6,826	6,706	5,178	5,580	5,667	5,396
Total Liabilities & Shareholders' Equity	55,617	52,456	52,880	50,873	50,710	47,528	44,876	46,620	47,806	49,304
Total Liabilities	49,284	45,621	43,614	39,914	44,672	44,357	43,427	47,396	46,200	46,207
Total Current Liabilities	19,420	16,937	15,887	13,997	13,933	13,972	14,398	12,913	12,542	13,918
Short-Term Debt	643	168	118	-	500	1,250	1,500	750	0.00	956
Accounts Payable	2,222	2,312	2,117	780	880	1,281	2,402	1,467	1,653	1,745
Current Deferred Revenue	9,795	9,190	8,488	-	-	-	-	7,028	6,776	6,703
Current Employee Benefit Liabilities	3,125	3,133	3,075	3,108	3,163	2,466	2,122	1,785	1,764	1,707
Other Current Liabilities	3,635	2,134	2,089	10,109	9,390	8,975	8,374	1,883	2,349	1,859
Total Noncurrent Liabilities	29,864	28,684	27,727	25,917	30,739	30,385	29,029	34,483	33,658	32,289
Long-Term Debt	19,627	17,291	15,429	11,670	11,669	11,404	12,604	13,513	14,282	14,305
Noncurrent Employee Benefit Liabilities	4,791	6,162	5,472	8,319	12,874	13,234	12,114	16,422	14,717	12,877
Other Noncurrent Operating Liabilities	5,446	5,231	6,826	5,928	6,196	5,747	4,311	4,548	4,659	4,902
Total Equity & Noncontrolling Interests	6,333	6,835	9,266	10,959	6,038	3,171	1,449	-776	1,606	3,097
Total Preferred & Common Equity	6,333	6,835	9,266	10,959	6,015	3,127	1,394	-850	1,511	3,097
Total Common Equity	6,333	6,835	9,266	10,959	6,015	3,127	1,394	-850	1,511	3,097
Common Stock	234	240	346	365	500	280	281	284	289	303
Retained Earnings	14,551	15,398	16,943	21,600	21,636	18,401	15,434	11,405	13,324	14,238
Accumulated Other Comprehensive Income / (Loss)	-8,452	-8,803	-8,023	-11,006	-16,121	-15,554	-14,321	-12,539	-12,102	-11,444

This table presents Lockheed Martin's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	9/24/2023	6/25/2023	3/26/2023	12/31/2022	9/25/2022
Total Assets	56,669	55,617	55,520	55,076	54,963	52,456	56,666	56,978	54,622	52,880	52,030
Total Current Assets	22,801	21,849	23,211	22,967	22,958	20,521	23,322	24,087	22,144	20,991	20,960
Cash & Equivalents	1,803	2,483	3,151	2,523	2,790	1,442	3,551	3,673	2,440	2,547	2,430
Accounts Receivable	2,024	2,351	2,141	2,930	2,257	2,132	2,405	3,427	2,583	2,505	2,484
Inventories, net	3,599	3,474	3,234	3,097	3,278	3,132	3,312	3,498	3,471	3,088	3,113
Other Current Assets	15,375	13,541	14,685	14,417	14,633	13,815	14,054	13,489	13,650	12,851	12,933
Plant, Property, & Equipment, net	8,713	8,726	8,454	8,394	8,354	8,370	8,046	7,966	7,938	7,975	7,629
Total Noncurrent Assets	25,155	25,042	23,855	23,715	23,651	23,565	25,298	24,925	24,540	23,914	23,441
Goodwill	11,076	11,067	10,800	10,787	10,789	10,799	10,782	10,795	10,776	10,780	10,764
Intangible Assets	1,952	2,015	1,979	2,040	2,151	2,212	2,274	2,336	2,397	2,459	2,521
Noncurrent Deferred & Refundable Income Taxes	3,568	3,557	3,105	3,080	3,024	2,953	4,873	4,518	4,175	3,744	3,116
Other Noncurrent Operating Assets	8,559	8,403	7,971	7,808	7,687	7,601	7,369	7,276	7,192	6,931	7,040
Total Liabilities & Shareholders' Equity	56,669	55,617	55,520	55,076	54,963	52,456	56,666	56,978	54,622	52,880	52,030
Total Liabilities	49,986	49,284	48,320	48,901	48,313	45,621	47,392	47,738	44,976	43,614	40,064
Total Current Liabilities	21,187	19,420	17,810	18,493	17,699	16,937	17,193	17,704	16,982	15,887	16,347
Short-Term Debt	1,643	643	142	142	168	168	168	283	115	118	-
Accounts Payable	3,821	2,222	3,221	3,282	3,523	2,312	3,817	3,466	3,271	2,117	2,622
Current Deferred Revenue	9,375	9,795	9,051	9,181	8,745	9,190	7,936	-	-	8,488	-
Current Employee Benefit Liabilities	2,391	3,125	3,076	2,871	2,679	3,133	3,139	2,896	2,634	3,075	3,151
Other Current Liabilities	3,957	3,635	2,320	3,017	2,584	2,134	2,133	11,059	10,962	2,089	10,574
Total Noncurrent Liabilities	28,799	29,864	30,510	30,408	30,614	28,684	30,199	30,034	27,994	27,727	23,717
Long-Term Debt	18,661	19,627	19,179	19,115	19,250	17,291	17,221	17,262	15,485	15,429	11,480
Noncurrent Employee Benefit Liabilities	4,815	4,791	6,077	6,105	6,133	6,162	5,323	5,373	5,422	5,472	5,745
Other Noncurrent Operating Liabilities	5,323	5,446	5,254	5,188	5,231	5,231	7,655	7,399	7,087	6,826	6,492
Total Equity & Noncontrolling Interests	6,683	6,333	7,200	6,175	6,650	6,835	9,274	9,240	9,646	9,266	11,966
Total Preferred & Common Equity	6,683	6,333	7,200	6,175	6,650	6,835	9,274	9,240	9,646	9,266	11,966
Total Common Equity	6,683	6,333	7,200	6,175	6,650	6,835	9,274	9,240	9,646	9,266	11,966
Common Stock	233	234	236	237	239	240	354	251	254	346	261
Retained Earnings	14,773	14,551	15,657	14,707	15,222	15,398	17,066	17,068	17,478	16,943	19,839
Accumulated Other Comprehensive Income / (Loss)	-8,323	-8,452	-8,693	-8,769	-8,811	-8,803	-8,146	-8,079	-8,086	-8,023	-8,134

This table displays calculated financial ratios and metrics derived from Lockheed Martin's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.14%	2.41%	-1.58%	2.52%	9.34%	11.25%	7.61%	5.65%	16.66%	1.48%
EBITDA Growth	-15.60%	19.95%	-19.19%	8.87%	8.96%	18.47%	8.11%	6.94%	14.98%	-0.17%
EBIT Growth	-19.50%	23.43%	-22.40%	9.34%	9.03%	21.33%	10.33%	8.86%	14.23%	-0.88%
NOPAT Growth	-17.24%	1.48%	-6.13%	5.54%	-1.66%	15.98%	160.90%	-46.42%	32.34%	3.08%
Net Income Growth	-22.89%	20.73%	-9.23%	-7.58%	9.68%	23.46%	157.06%	-62.05%	43.50%	-0.25%
EPS Growth	-19.02%	27.19%	-4.83%	-6.34%	10.71%	24.79%	160.59%	-60.46%	48.95%	2.23%
Operating Cash Flow Growth	-11.97%	1.51%	-15.39%	12.68%	11.93%	132.98%	-51.54%	24.80%	1.73%	31.95%
Free Cash Flow Firm Growth	-28.96%	70.40%	7.38%	-43.75%	-16.98%	258.14%	-62.70%	22.63%	272.44%	-175.22%
Invested Capital Growth	5.55%	2.63%	17.04%	26.44%	5.14%	-3.18%	39.10%	-24.38%	-1.68%	76.52%
Revenue Q/Q Growth	-0.35%	-0.17%	1.95%	1.05%	84.32%	-31.34%	1.07%	0.10%	12.01%	4.77%
EBITDA Q/Q Growth	-14.00%	5.77%	-24.17%	21.50%	1.74%	4.04%	-1.33%	-13.56%	11.99%	4.06%
EBIT Q/Q Growth	-16.87%	6.98%	-28.07%	25.38%	1.51%	4.43%	-1.39%	-15.73%	14.43%	4.24%
NOPAT Q/Q Growth	-17.87%	-0.11%	0.11%	1.91%	1.60%	2.66%	69.87%	-53.40%	20.75%	6.28%
Net Income Q/Q Growth	-20.06%	-0.66%	-2.33%	4.24%	4.50%	4.09%	65.50%	-44.95%	-1.41%	0.81%
EPS Q/Q Growth	-19.23%	0.84%	-0.55%	5.03%	4.65%	4.37%	64.85%	-44.67%	-0.58%	1.69%
Operating Cash Flow Q/Q Growth	-16.14%	5.84%	-23.07%	36.41%	4.03%	-9.04%	28.98%	13.75%	-10.90%	44.26%
Free Cash Flow Firm Q/Q Growth	-32.81%	28.99%	-16.86%	22.35%	-18.72%	11.06%	-9.10%	5.47%	321.16%	-190.04%
Invested Capital Q/Q Growth	3.21%	-1.13%	5.95%	2.41%	6.90%	-4.27%	-0.34%	-21.30%	1.53%	80.33%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.75%	12.55%	12.56%	13.52%	13.23%	13.99%	13.53%	12.75%	11.42%	11.08%
EBITDA Margin	12.41%	15.46%	13.20%	16.07%	15.13%	15.19%	14.26%	14.20%	14.02%	14.23%
Operating Margin	9.87%	12.59%	12.65%	13.61%	13.22%	14.29%	13.64%	13.50%	12.45%	11.62%
EBIT Margin	10.21%	13.34%	11.07%	14.04%	13.16%	13.20%	12.10%	11.80%	11.45%	11.70%
Profit (Net Income) Margin	7.51%	10.24%	8.69%	9.42%	10.45%	10.42%	9.39%	3.93%	10.94%	8.89%
Tax Burden Percent	85.79%	85.45%	85.81%	83.64%	82.98%	86.04%	86.43%	37.42%	108.81%	83.86%
Interest Burden Percent	85.72%	89.84%	91.47%	80.23%	95.68%	91.73%	89.73%	88.96%	87.76%	90.66%
Effective Tax Rate	14.21%	14.55%	14.19%	16.36%	16.36%	13.96%	13.57%	63.97%	22.99%	27.29%
Return on Invested Capital (ROIC)	25.62%	32.22%	34.70%	44.79%	49.25%	50.54%	49.90%	19.69%	32.00%	30.61%
ROIC Less NNEP Spread (ROIC-NNEP)	21.59%	29.82%	21.11%	29.38%	45.31%	41.37%	39.44%	15.78%	37.40%	32.86%
Return on Net Nonoperating Assets (RNNOA)	55.43%	53.73%	21.99%	29.52%	99.14%	219.15%	1,449.65%	453.32%	187.99%	80.36%
Return on Equity (ROE)	81.05%	85.96%	56.68%	74.31%	148.40%	269.70%	1,499.55%	473.01%	219.99%	110.97%
Cash Return on Invested Capital (CROIC)	20.22%	29.63%	19.00%	21.44%	44.24%	53.77%	17.19%	47.45%	33.69%	-24.73%
Operating Return on Assets (OROA)	13.43%	17.11%	14.08%	18.53%	17.52%	17.09%	14.22%	12.49%	11.16%	10.98%
Return on Assets (ROA)	9.87%	13.14%	11.05%	12.43%	13.91%	13.48%	11.03%	4.16%	10.65%	8.35%
Return on Common Equity (ROCE)	81.05%	85.96%	56.68%	74.21%	147.32%	263.92%	1,212.12%	376.70%	215.54%	110.97%
Return on Equity Simple (ROE_SIMPLE)	84.26%	101.24%	61.86%	57.62%	113.60%	199.23%	361.98%	-230.94%	342.36%	116.40%
Net Operating Profit after Tax (NOPAT)	6,016	7,270	7,163	7,631	7,230	7,352	6,339	2,430	4,534	3,426
NOPAT Margin	8.47%	10.76%	10.86%	11.38%	11.06%	12.29%	11.79%	4.86%	9.59%	8.45%
Net Nonoperating Expense Percent (NNEP)	4.03%	2.41%	13.59%	15.41%	3.94%	9.17%	10.46%	3.91%	-5.40%	-2.25%
Return On Investment Capital (ROIC_SIMPLE)	22.62%	29.92%	28.87%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	90.25%	87.45%	87.44%	86.49%	86.77%	86.01%	86.47%	87.25%	88.58%	88.92%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-0.12%	-0.04%	-0.09%	-0.09%	0.02%	-0.30%	-0.11%	-0.75%	-1.03%	-0.54%
Earnings before Interest and Taxes (EBIT)	7,256	9,014	7,303	9,411	8,607	7,894	6,506	5,897	5,417	4,742
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8,815	10,444	8,707	10,775	9,897	9,083	7,667	7,092	6,632	5,768
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	18.19	16.03	13.05	8.37	14.99	31.09	46.10	0.00	39.75	17.18
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.62	1.62	1.83	1.37	1.38	1.63	1.20	1.55	1.27	1.31
Price to Earnings (P/E)	21.59	15.84	21.10	14.52	13.20	15.61	12.74	39.46	11.61	14.76
Dividend Yield	2.62%	2.75%	2.47%	3.19%	3.04%	2.61%	3.63%	2.76%	3.30%	3.55%
Earnings Yield	4.63%	6.32%	4.74%	6.89%	7.58%	6.41%	7.85%	2.53%	8.61%	6.77%
Enterprise Value to Invested Capital (EV/IC)	5.51	5.50	6.02	5.24	6.59	7.58	5.25	8.37	5.17	4.72
Enterprise Value to Revenue (EV/Rev)	1.87	1.86	2.03	1.49	1.52	1.81	1.44	1.78	1.54	1.66
Enterprise Value to EBITDA (EV/EBITDA)	15.08	12.03	15.39	9.26	10.02	11.94	10.13	12.54	10.95	11.68
Enterprise Value to EBIT (EV/EBIT)	18.33	13.93	18.34	10.60	11.53	13.73	11.94	15.08	13.40	14.21
Enterprise Value to NOPAT (EV/NOPAT)	22.10	17.28	18.70	13.07	13.72	14.75	12.25	36.60	16.01	19.67
Enterprise Value to Operating Cash Flow (EV/OCF)	19.07	15.86	17.17	10.82	12.12	14.83	24.75	13.73	13.99	13.21
Enterprise Value to Free Cash Flow (EV/FCFF)	28.00	18.79	34.15	27.31	15.28	13.86	35.56	15.19	15.21	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.20	2.55	1.68	1.06	2.02	3.99	9.73	-18.38	8.89	4.93
Long-Term Debt to Equity	3.10	2.53	1.67	1.06	1.93	3.60	8.70	-17.41	8.89	4.62
Financial Leverage	2.57	1.80	1.04	1.00	2.19	5.30	36.75	28.73	5.03	2.45
Leverage Ratio	8.21	6.54	5.13	5.98	10.67	20.00	135.95	113.77	20.65	13.29
Compound Leverage Factor	7.04	5.88	4.69	4.79	10.21	18.35	121.99	101.21	18.12	12.05
Debt to Total Capital	76.19%	71.87%	62.66%	51.57%	66.84%	79.96%	90.68%	105.75%	89.89%	83.13%
Short-Term Debt to Total Capital	2.42%	0.69%	0.48%	0.00%	2.75%	7.90%	9.64%	5.56%	0.00%	5.21%
Long-Term Debt to Total Capital	73.78%	71.17%	62.18%	51.57%	64.09%	72.06%	81.04%	100.19%	89.89%	77.92%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.13%	0.28%	0.35%	0.55%	0.60%	0.00%
Common Equity to Total Capital	23.81%	28.13%	37.34%	48.43%	33.04%	19.76%	8.96%	-6.30%	9.51%	16.87%
Debt to EBITDA	2.30	1.67	1.79	1.08	1.23	1.39	1.84	2.01	2.15	2.65
Net Debt to EBITDA	2.02	1.53	1.49	0.75	0.91	1.23	1.74	1.61	1.88	2.46
Long-Term Debt to EBITDA	2.23	1.66	1.77	1.08	1.18	1.26	1.64	1.91	2.15	2.48
Debt to NOPAT	3.37	2.40	2.17	1.53	1.68	1.72	2.22	5.87	3.15	4.45
Net Debt to NOPAT	2.96	2.20	1.81	1.06	1.25	1.52	2.10	4.69	2.74	4.14
Long-Term Debt to NOPAT	3.26	2.38	2.15	1.53	1.61	1.55	1.99	5.56	3.15	4.18
Altman Z-Score	3.53	3.79	3.93	4.04	3.79	3.74	3.09	2.93	2.60	2.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.14%	0.73%	2.14%	19.17%	20.36%	2.02%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.13	1.21	1.32	1.42	1.39	1.22	1.12	1.36	1.20	1.05
Quick Ratio	0.25	0.21	0.32	0.40	0.37	0.28	0.22	0.40	0.80	0.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,748	6,684	3,922	3,653	6,494	7,822	2,184	5,855	4,774	-2,769
Operating Cash Flow to CapEx	413.77%	468.36%	467.19%	605.85%	463.36%	492.66%	245.54%	550.21%	488.15%	543.24%
Free Cash Flow to Firm to Interest Expense	4.58	7.30	6.30	6.42	10.99	11.98	3.27	8.99	7.20	-6.25
Operating Cash Flow to Interest Expense	6.73	8.65	12.52	16.21	13.85	11.20	4.70	9.95	7.83	11.51
Operating Cash Flow Less CapEx to Interest Expense	5.10	6.80	9.84	13.53	10.86	8.92	2.78	8.14	6.22	9.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.31	1.28	1.27	1.32	1.33	1.29	1.18	1.06	0.97	0.94
Accounts Receivable Turnover	31.69	29.14	29.54	34.02	30.31	25.02	22.83	9.55	6.12	6.17
Inventory Turnover	19.41	19.00	19.01	17.77	15.84	15.55	15.83	11.55	8.83	9.46
Fixed Asset Turnover	8.31	8.27	8.47	9.05	9.48	9.41	9.04	8.82	8.65	8.00
Accounts Payable Turnover	28.28	26.68	39.83	69.86	52.52	27.94	24.03	27.94	24.66	21.80
Days Sales Outstanding (DSO)	11.52	12.52	12.36	10.73	12.04	14.59	15.99	38.24	59.65	59.12
Days Inventory Outstanding (DIO)	18.80	19.21	19.20	20.54	23.04	23.47	23.06	31.60	41.34	38.60
Days Payable Outstanding (DPO)	12.91	13.68	9.16	5.22	6.95	13.07	15.19	13.06	14.80	16.74
Cash Conversion Cycle (CCC)	17.41	18.06	22.39	26.04	28.13	24.99	23.86	56.77	86.18	80.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	24,120	22,852	22,266	19,025	15,047	14,311	14,781	10,626	14,051	14,291
Invested Capital Turnover	3.02	3.00	3.20	3.94	4.46	4.11	4.23	4.05	3.34	3.62
Increase / (Decrease) in Invested Capital	1,268	586	3,241	3,978	736	-470	4,155	-3,425	-240	6,195
Enterprise Value (EV)	132,972	125,596	133,964	99,759	99,211	108,414	77,657	88,928	72,600	67,383
Market Capitalization	115,185	109,579	120,964	91,693	90,179	97,230	64,270	77,452	60,060	53,212
Book Value per Share	$26.72	$27.55	$35.36	$39.74	$21.50	$11.09	$4.90	($2.96)	$5.16	$10.08
Tangible Book Value per Share	($28.47)	($24.89)	($15.16)	($9.28)	($27.89)	($37.90)	($45.25)	($53.90)	($45.55)	($37.81)
Total Capital	26,603	24,294	24,813	22,629	18,207	15,825	15,553	13,487	15,888	18,358
Total Debt	20,270	17,459	15,547	11,670	12,169	12,654	14,104	14,263	14,282	15,261
Total Long-Term Debt	19,627	17,291	15,429	11,670	11,669	11,404	12,604	13,513	14,282	14,305
Net Debt	17,787	16,017	13,000	8,066	9,009	11,140	13,332	11,402	12,445	14,171
Capital Expenditures (CapEx)	1,685	1,691	1,670	1,522	1,766	1,484	1,278	1,177	1,063	939
Debt-free, Cash-free Net Working Capital (DFCFNWC)	589	2,310	2,675	2,214	2,785	2,859	2,433	2,481	729	521
Debt-free Net Working Capital (DFNWC)	3,072	3,752	5,222	5,818	5,945	4,373	3,205	5,342	2,566	1,611
Net Working Capital (NWC)	2,429	3,584	5,104	5,818	5,445	3,123	1,705	4,592	2,566	655
Net Nonoperating Expense (NNE)	680	350	1,431	1,316	397	1,122	1,293	467	-639	-179
Net Nonoperating Obligations (NNO)	17,787	16,017	13,000	8,066	9,009	11,140	13,332	11,402	12,445	11,194
Total Depreciation and Amortization (D&A)	1,559	1,430	1,404	1,364	1,290	1,189	1,161	1,195	1,215	1,026
Debt-free, Cash-free Net Working Capital to Revenue	0.83%	3.42%	4.05%	3.30%	4.26%	4.78%	4.53%	4.97%	1.54%	1.29%
Debt-free Net Working Capital to Revenue	4.32%	5.55%	7.91%	8.68%	9.09%	7.31%	5.96%	10.69%	5.43%	3.97%
Net Working Capital to Revenue	3.42%	5.30%	7.74%	8.68%	8.33%	5.22%	3.17%	9.19%	5.43%	1.62%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$22.39	$27.65	$21.74	$22.85	$24.40	$22.09	$17.74	$0.00	$17.71	$11.62
Adjusted Weighted Average Basic Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	282.56M	0.00	290.32M	305.49M
Adjusted Diluted Earnings per Share	$22.31	$27.55	$21.66	$22.76	$24.30	$21.95	$17.59	$0.00	$17.49	$11.46
Adjusted Weighted Average Diluted Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	282.56M	0.00	290.32M	305.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$22.09	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	235.39M	241.64M	255.30M	272.33M	280.10M	281.94M	282.56M	0.00	290.32M	305.49M
Normalized Net Operating Profit after Tax (NOPAT)	6,016	7,270	7,163	7,631	7,230	7,352	6,339	4,721	4,534	3,426
Normalized NOPAT Margin	8.47%	10.76%	10.86%	11.38%	11.06%	12.29%	11.79%	9.45%	9.59%	8.45%
Pre Tax Income Margin	8.76%	11.98%	10.12%	11.26%	12.59%	12.11%	10.86%	10.50%	10.05%	10.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.00	9.84	11.72	16.54	14.56	12.09	9.74	9.06	8.17	10.70
NOPAT to Interest Expense	5.81	7.94	11.50	13.41	12.23	11.26	9.49	3.73	6.84	7.73
EBIT Less CapEx to Interest Expense	5.38	7.99	9.04	13.86	11.58	9.82	7.83	7.25	6.57	8.58
NOPAT Less CapEx to Interest Expense	4.18	6.09	8.82	10.74	9.25	8.99	7.58	1.92	5.24	5.61
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	57.33%	44.16%	52.62%	46.56%	40.45%	41.03%	46.51%	110.19%	39.59%	53.59%
Augmented Payout Ratio	126.67%	130.87%	190.44%	111.27%	56.55%	60.29%	76.08%	212.12%	80.11%	138.78%

This table displays calculated financial ratios and metrics derived from Lockheed Martin's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	9/24/2023	6/25/2023	3/26/2023	12/31/2022	9/25/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.47%	-1.34%	1.34%	8.56%	13.68%	-0.62%	1.78%	8.07%	1.08%	7.12%	3.46%
EBITDA Growth	15.42%	-59.58%	4.90%	4.73%	0.58%	95.65%	0.12%	14.31%	-4.51%	-63.28%	111.14%
EBIT Growth	15.81%	-70.16%	3.80%	4.30%	-0.58%	133.02%	-2.53%	17.54%	-5.01%	-70.86%	160.12%
NOPAT Growth	16.75%	-64.57%	2.85%	1.14%	-0.99%	-0.36%	-3.72%	-2.66%	6.16%	-0.90%	-11.84%
Net Income Growth	10.81%	-71.76%	-3.62%	-2.38%	-8.53%	-2.41%	-5.29%	444.01%	-2.54%	-6.69%	189.58%
EPS Growth	13.93%	-70.05%	1.04%	3.32%	-3.33%	3.13%	0.30%	471.55%	2.64%	-1.61%	203.62%
Operating Cash Flow Growth	-13.82%	-56.74%	-15.67%	70.55%	4.54%	22.67%	-7.72%	-17.36%	10.92%	-54.83%	61.75%
Free Cash Flow Firm Growth	-92.84%	-139.84%	563.18%	9,289.49%	193.91%	213.69%	44.97%	99.38%	48.88%	36.71%	74.91%
Invested Capital Growth	8.19%	5.55%	1.12%	-0.88%	2.07%	2.63%	9.97%	8.50%	15.39%	17.04%	13.12%
Revenue Q/Q Growth	-3.54%	8.88%	-5.62%	5.39%	-8.90%	11.83%	1.11%	10.36%	-20.35%	14.52%	7.36%
EBITDA Q/Q Growth	119.70%	-50.00%	-0.78%	5.90%	-10.48%	29.77%	-0.94%	1.70%	-6.62%	-33.59%	13.10%
EBIT Q/Q Growth	194.72%	-62.23%	-2.31%	6.51%	-9.35%	31.36%	-1.84%	1.53%	-2.66%	-45.05%	18.37%
NOPAT Q/Q Growth	182.22%	-60.97%	0.08%	5.92%	-14.36%	13.29%	-1.59%	3.69%	-13.81%	9.47%	-0.50%
Net Income Q/Q Growth	224.86%	-67.53%	-1.10%	6.21%	-17.20%	10.81%	0.18%	-0.47%	-11.66%	7.54%	475.40%
EPS Q/Q Growth	220.70%	-66.62%	-0.73%	7.20%	-15.70%	12.63%	1.51%	0.30%	-10.07%	9.54%	478.45%
Operating Cash Flow Q/Q Growth	37.73%	-58.04%	29.96%	14.74%	-30.87%	-18.19%	162.82%	-29.67%	-18.88%	-38.46%	135.39%
Free Cash Flow Firm Q/Q Growth	115.77%	-136.14%	-22.84%	62.78%	-12.24%	520.20%	-1,430.88%	98.34%	-6.25%	-103.40%	82.63%
Invested Capital Q/Q Growth	4.41%	3.21%	2.01%	-1.59%	1.86%	-1.13%	0.00%	1.34%	2.43%	5.95%	-1.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.93%	3.71%	12.38%	11.75%	11.59%	12.16%	12.13%	12.52%	13.53%	12.12%	12.78%
EBITDA Margin	15.58%	6.84%	14.90%	14.17%	14.10%	16.70%	14.39%	14.69%	15.94%	8.48%	14.63%
Operating Margin	13.20%	3.74%	12.51%	11.85%	11.80%	12.15%	12.10%	12.79%	13.47%	12.07%	13.02%
EBIT Margin	13.37%	4.38%	12.62%	12.19%	12.06%	14.47%	12.32%	12.69%	13.79%	6.17%	12.86%
Profit (Net Income) Margin	9.53%	2.83%	9.49%	9.06%	8.99%	9.89%	9.98%	10.07%	11.17%	10.07%	10.72%
Tax Burden Percent	84.09%	101.54%	84.62%	84.24%	84.20%	86.99%	86.23%	83.80%	84.70%	87.31%	84.71%
Interest Burden Percent	84.76%	63.68%	88.88%	88.18%	88.48%	78.54%	93.94%	94.71%	95.59%	186.86%	98.41%
Effective Tax Rate	15.91%	-1.54%	15.38%	15.76%	15.80%	13.01%	13.77%	16.20%	15.30%	12.69%	15.29%
Return on Invested Capital (ROIC)	32.91%	11.48%	32.48%	30.84%	30.03%	31.66%	32.00%	32.53%	35.45%	33.69%	36.05%
ROIC Less NNEP Spread (ROIC-NNEP)	31.30%	10.42%	31.23%	29.74%	28.93%	30.77%	31.33%	31.62%	35.13%	32.84%	35.49%
Return on Net Nonoperating Assets (RNNOA)	82.46%	26.74%	56.88%	59.04%	52.88%	55.45%	33.76%	36.31%	40.99%	34.20%	29.57%
Return on Equity (ROE)	115.37%	38.22%	89.36%	89.88%	82.91%	87.11%	65.77%	68.84%	76.43%	67.89%	65.63%
Cash Return on Invested Capital (CROIC)	18.15%	20.22%	30.41%	32.50%	29.43%	29.63%	23.48%	24.92%	19.86%	19.00%	23.83%
Operating Return on Assets (OROA)	17.20%	5.75%	16.04%	15.46%	15.33%	18.56%	15.34%	15.73%	17.19%	7.85%	16.03%
Return on Assets (ROA)	12.26%	3.72%	12.06%	11.49%	11.42%	12.68%	12.43%	12.48%	13.92%	12.81%	13.36%
Return on Common Equity (ROCE)	115.37%	38.22%	89.36%	89.88%	82.91%	87.11%	65.77%	68.84%	76.43%	67.89%	65.63%
Return on Equity Simple (ROE_SIMPLE)	82.34%	0.00%	92.71%	109.09%	101.89%	0.00%	75.11%	76.41%	58.97%	0.00%	49.05%
Net Operating Profit after Tax (NOPAT)	1,995	707	1,811	1,809	1,708	1,995	1,761	1,789	1,725	2,002	1,829
NOPAT Margin	11.10%	3.80%	10.59%	9.99%	9.94%	10.57%	10.43%	10.72%	11.41%	10.54%	11.03%
Net Nonoperating Expense Percent (NNEP)	1.61%	1.06%	1.25%	1.10%	1.10%	0.89%	0.67%	0.91%	0.32%	0.85%	0.56%
Return On Investment Capital (ROIC_SIMPLE)	7.39%	2.66%	-	-	-	8.21%	-	-	-	8.07%	-
Cost of Revenue to Revenue	87.07%	96.29%	87.62%	88.25%	88.41%	87.84%	87.87%	87.48%	86.47%	87.88%	87.22%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-0.27%	-0.03%	-0.13%	-0.10%	-0.21%	0.01%	0.04%	-0.27%	0.06%	0.05%	-0.24%
Earnings before Interest and Taxes (EBIT)	2,402	815	2,158	2,209	2,074	2,731	2,079	2,118	2,086	1,172	2,133
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,799	1,274	2,548	2,568	2,425	3,152	2,429	2,452	2,411	1,611	2,426
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	15.55	18.19	19.28	18.15	16.86	16.03	10.94	12.25	12.13	13.05	8.73
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.45	1.62	1.95	1.58	1.61	1.62	1.50	1.68	1.77	1.83	1.61
Price to Earnings (P/E)	18.88	21.59	20.80	16.64	16.54	15.84	14.56	16.03	20.58	21.10	17.81
Dividend Yield	2.92%	2.62%	2.16%	2.67%	2.72%	2.75%	2.98%	2.64%	2.53%	2.47%	2.84%
Earnings Yield	5.30%	4.63%	4.81%	6.01%	6.04%	6.32%	6.87%	6.24%	4.86%	4.74%	5.62%
Enterprise Value to Invested Capital (EV/IC)	4.86	5.51	6.63	5.62	5.53	5.50	4.99	5.50	5.71	6.02	5.40
Enterprise Value to Revenue (EV/Rev)	1.70	1.87	2.17	1.81	1.85	1.86	1.70	1.88	1.97	2.03	1.75
Enterprise Value to EBITDA (EV/EBITDA)	13.32	15.08	15.12	12.71	12.85	12.03	11.67	12.87	13.61	15.39	9.89
Enterprise Value to EBIT (EV/EBIT)	16.14	18.33	17.75	14.89	15.04	13.93	13.68	14.98	15.95	18.34	11.18
Enterprise Value to NOPAT (EV/NOPAT)	19.42	22.10	21.16	17.70	17.75	17.28	15.84	17.29	17.91	18.70	15.87
Enterprise Value to Operating Cash Flow (EV/OCF)	18.15	19.07	18.64	14.69	16.11	15.86	15.40	16.44	16.37	17.17	11.20
Enterprise Value to Free Cash Flow (EV/FCFF)	27.83	28.00	21.93	17.22	18.98	18.79	22.25	22.95	30.80	34.15	24.07
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.04	3.20	2.68	3.12	2.92	2.55	1.88	1.90	1.62	1.68	0.96
Long-Term Debt to Equity	2.79	3.10	2.66	3.10	2.89	2.53	1.86	1.87	1.61	1.67	0.96
Financial Leverage	2.63	2.57	1.82	1.99	1.83	1.80	1.08	1.15	1.17	1.04	0.83
Leverage Ratio	8.37	8.21	6.81	7.27	6.72	6.54	5.12	5.26	5.40	5.13	4.81
Compound Leverage Factor	7.10	5.23	6.05	6.41	5.95	5.14	4.81	4.98	5.16	9.59	4.73
Debt to Total Capital	75.24%	76.19%	72.85%	75.72%	74.49%	71.87%	65.22%	65.50%	61.79%	62.66%	48.96%
Short-Term Debt to Total Capital	6.09%	2.42%	0.54%	0.56%	0.64%	0.69%	0.63%	1.06%	0.46%	0.48%	0.00%
Long-Term Debt to Total Capital	69.15%	73.78%	72.32%	75.16%	73.85%	71.17%	64.59%	64.45%	61.34%	62.18%	48.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	24.76%	23.81%	27.15%	24.28%	25.51%	28.13%	34.78%	34.50%	38.21%	37.34%	51.04%
Debt to EBITDA	2.21	2.30	1.89	1.90	1.94	1.67	1.76	1.78	1.63	1.79	1.00
Net Debt to EBITDA	2.01	2.02	1.58	1.65	1.66	1.53	1.40	1.41	1.38	1.49	0.79
Long-Term Debt to EBITDA	2.03	2.23	1.87	1.89	1.92	1.66	1.74	1.75	1.62	1.77	1.00
Debt to NOPAT	3.22	3.37	2.64	2.65	2.68	2.40	2.39	2.39	2.15	2.17	1.60
Net Debt to NOPAT	2.93	2.96	2.21	2.30	2.29	2.20	1.90	1.89	1.81	1.81	1.26
Long-Term Debt to NOPAT	2.96	3.26	2.62	2.63	2.65	2.38	2.37	2.35	2.13	2.15	1.60
Altman Z-Score	3.05	3.15	3.65	3.27	3.29	3.39	3.15	3.28	3.46	3.55	3.58
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.13	1.30	1.24	1.30	1.21	1.36	1.36	1.30	1.32	1.28
Quick Ratio	0.18	0.25	0.30	0.29	0.29	0.21	0.35	0.40	0.30	0.32	0.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	89	-561	1,553	2,012	1,236	1,409	-335	-22	-1,317	-1,239	-609
Operating Cash Flow to CapEx	310.35%	175.77%	686.76%	507.03%	432.54%	335.94%	794.23%	334.35%	531.97%	278.21%	773.58%
Free Cash Flow to Firm to Interest Expense	0.33	-2.13	6.07	7.71	4.85	5.55	-1.41	-0.10	-6.52	-6.13	-4.20
Operating Cash Flow to Interest Expense	5.26	3.88	9.52	7.19	6.41	9.31	12.20	4.93	7.74	9.54	21.61
Operating Cash Flow Less CapEx to Interest Expense	3.56	1.67	8.14	5.77	4.93	6.54	10.66	3.46	6.29	6.11	18.81
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.29	1.31	1.27	1.27	1.27	1.28	1.25	1.24	1.25	1.27	1.25
Accounts Receivable Turnover	33.55	31.69	31.37	22.36	28.78	29.14	27.69	19.74	25.89	29.54	27.25
Inventory Turnover	18.77	19.41	19.18	18.99	18.14	19.00	18.43	16.98	17.45	19.01	18.72
Fixed Asset Turnover	8.42	8.31	8.64	8.69	8.55	8.27	8.64	8.68	8.54	8.47	8.65
Accounts Payable Turnover	17.58	28.28	17.83	18.55	18.02	26.68	18.39	20.38	19.67	39.83	27.19
Days Sales Outstanding (DSO)	10.88	11.52	11.64	16.32	12.68	12.52	13.18	18.49	14.10	12.36	13.40
Days Inventory Outstanding (DIO)	19.44	18.80	19.04	19.23	20.12	19.21	19.81	21.49	20.91	19.20	19.50
Days Payable Outstanding (DPO)	20.76	12.91	20.47	19.67	20.26	13.68	19.85	17.91	18.56	9.16	13.42
Cash Conversion Cycle (CCC)	9.56	17.41	10.21	15.88	12.55	18.06	13.14	22.07	16.45	22.39	19.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,184	24,120	23,370	22,909	23,278	22,852	23,112	23,112	22,806	22,266	21,016
Invested Capital Turnover	2.96	3.02	3.07	3.09	3.02	3.00	3.07	3.03	3.11	3.20	3.27
Increase / (Decrease) in Invested Capital	1,906	1,268	258	-203	472	586	2,096	1,811	3,042	3,241	2,438
Enterprise Value (EV)	122,422	132,972	154,980	128,809	128,725	125,596	115,264	127,018	130,200	133,964	113,548
Market Capitalization	103,921	115,185	138,810	112,075	112,097	109,579	101,426	113,146	117,040	120,964	104,498
Book Value per Share	$28.39	$26.72	$30.21	$25.74	$27.72	$27.55	$36.83	$36.49	$37.78	$35.36	$45.13
Tangible Book Value per Share	($26.96)	($28.47)	($23.41)	($27.72)	($26.22)	($24.89)	($15.02)	($15.36)	($13.82)	($15.16)	($4.97)
Total Capital	26,987	26,603	26,521	25,432	26,068	24,294	26,663	26,785	25,246	24,813	23,446
Total Debt	20,304	20,270	19,321	19,257	19,418	17,459	17,389	17,545	15,600	15,547	11,480
Total Long-Term Debt	18,661	19,627	19,179	19,115	19,250	17,291	17,221	17,262	15,485	15,429	11,480
Net Debt	18,501	17,787	16,170	16,734	16,628	16,017	13,838	13,872	13,160	13,000	9,050
Capital Expenditures (CapEx)	454	582	355	370	378	704	364	329	294	693	405
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,454	589	2,392	2,093	2,637	2,310	2,746	2,993	2,837	2,675	2,183
Debt-free Net Working Capital (DFNWC)	3,257	3,072	5,543	4,616	5,427	3,752	6,297	6,666	5,277	5,222	4,613
Net Working Capital (NWC)	1,614	2,429	5,401	4,474	5,259	3,584	6,129	6,383	5,162	5,104	4,613
Net Nonoperating Expense (NNE)	283	180	188	168	163	129	77	108	36	90	51
Net Nonoperating Obligations (NNO)	18,501	17,787	16,170	16,734	16,628	16,017	13,838	13,872	13,160	13,000	9,050
Total Depreciation and Amortization (D&A)	397	459	390	359	351	421	350	334	325	439	293
Debt-free, Cash-free Net Working Capital to Revenue	2.02%	0.83%	3.36%	2.95%	3.79%	3.42%	4.06%	4.44%	4.29%	4.05%	3.37%
Debt-free Net Working Capital to Revenue	4.54%	4.32%	7.77%	6.50%	7.79%	5.55%	9.30%	9.89%	7.98%	7.91%	7.13%
Net Working Capital to Revenue	2.25%	3.42%	7.58%	6.30%	7.55%	5.30%	9.05%	9.47%	7.80%	7.74%	7.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.30	$2.27	$6.83	$6.87	$6.42	$7.62	$6.75	$6.65	$6.63	$7.39	$6.73
Adjusted Weighted Average Basic Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Adjusted Diluted Earnings per Share	$7.28	$2.27	$6.80	$6.85	$6.39	$7.58	$6.73	$6.63	$6.61	$7.35	$6.71
Adjusted Weighted Average Diluted Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	234.30M	235.39M	237.04M	238.36M	239.94M	241.64M	248.10M	251.83M	253.25M	255.30M	262.07M
Normalized Net Operating Profit after Tax (NOPAT)	1,995	487	1,811	1,809	1,708	1,995	1,761	1,789	1,725	2,002	1,829
Normalized NOPAT Margin	11.10%	2.62%	10.59%	9.99%	9.94%	10.57%	10.43%	10.72%	11.41%	10.54%	11.03%
Pre Tax Income Margin	11.33%	2.79%	11.21%	10.75%	10.67%	11.36%	11.57%	12.02%	13.18%	11.53%	12.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.96	3.09	8.43	8.46	8.13	10.75	8.77	9.50	10.33	5.80	14.71
NOPAT to Interest Expense	7.44	2.68	7.07	6.93	6.70	7.85	7.43	8.02	8.54	9.91	12.61
EBIT Less CapEx to Interest Expense	7.27	0.88	7.04	7.05	6.65	7.98	7.24	8.02	8.87	2.37	11.92
NOPAT Less CapEx to Interest Expense	5.75	0.47	5.69	5.52	5.22	5.08	5.89	6.55	7.09	6.48	9.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.88%	57.33%	45.66%	45.22%	45.04%	44.16%	43.86%	43.16%	53.32%	52.62%	51.32%
Augmented Payout Ratio	118.57%	126.67%	131.06%	143.20%	140.97%	130.87%	147.30%	139.39%	165.84%	190.44%	149.82%

Frequently Asked Questions About Lockheed Martin's Financials

When does Lockheed Martin's fiscal year end?

According to the most recent income statement we have on file, Lockheed Martin's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Lockheed Martin's net income changed over the last 9 years?

Lockheed Martin's net income appears to be on an upward trend, with a most recent value of $5.34 billion in 2024, rising from $3.61 billion in 2015. The previous period was $6.92 billion in 2023. See Lockheed Martin's forecast for analyst expectations on what’s next for the company.

What is Lockheed Martin's operating income?

Lockheed Martin's total operating income in 2024 was $7.01 billion, based on the following breakdown:

Total Gross Profit: $6.93 billion
Total Operating Expenses: -$83 million

How has Lockheed Martin revenue changed over the last 9 years?

Over the last 9 years, Lockheed Martin's total revenue changed from $40.54 billion in 2015 to $71.04 billion in 2024, a change of 75.3%.

How much debt does Lockheed Martin have?

Lockheed Martin's total liabilities were at $49.28 billion at the end of 2024, a 8.0% increase from 2023, and a 6.7% increase since 2015.

How much cash does Lockheed Martin have?

In the past 9 years, Lockheed Martin's cash and equivalents has ranged from $772 million in 2018 to $3.60 billion in 2021, and is currently $2.48 billion as of their latest financial filing in 2024.

How has Lockheed Martin's book value per share changed over the last 9 years?

Over the last 9 years, Lockheed Martin's book value per share changed from 10.08 in 2015 to 26.72 in 2024, a change of 165.1%.

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This page (NYSE:LMT) was last updated on 5/28/2025 by MarketBeat.com Staff

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Lockheed Martin (LMT) Financials

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Lockheed Martin (LMT) Financials

Annual Income Statements for Lockheed Martin

Quarterly Income Statements for Lockheed Martin

Annual Cash Flow Statements for Lockheed Martin

Quarterly Cash Flow Statements for Lockheed Martin

Annual Balance Sheets for Lockheed Martin

Quarterly Balance Sheets for Lockheed Martin

Annual Metrics And Ratios for Lockheed Martin

Quarterly Metrics And Ratios for Lockheed Martin

Frequently Asked Questions About Lockheed Martin's Financials

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