Cash flow Lockheed Martin Corporation

Equities

LMT

US5398301094

Aerospace & Defense

Market Closed - Nyse Other stock markets 04:00:02 2024-12-03 pm EST			5-day change	1st Jan Change
517.00 ^USD	-0.64%		-0.85%	+14.07%

Dec. 03	Lockheed Martin Announces Executive Changes	CI
Dec. 03	Lockheed Martin Corporation Presents at UBS Global Industrials and Transportation Conference, Dec-03-2024 08:00 AM

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Published financial data: LOCKHEED MARTIN CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	59.81B	65.4B	67.04B	65.98B	67.57B
Total Revenues	59.81B	65.4B	67.04B	65.98B	67.57B
Cost of Goods Sold, Total	51.44B	56.72B	57.95B	57.6B	59B
Gross Profit	8.37B	8.68B	9.1B	8.39B	8.57B
Selling General & Admin Expenses, Total	608M	-241M	1.24B	865M	-499M
Other Operating Expenses	61M	45M	35M	53M	12M
Other Operating Expenses, Total	669M	-196M	1.28B	918M	-487M
Operating Income	7.7B	8.88B	7.82B	7.47B	9.06B
Interest Expense, Total	-653M	-591M	-569M	-623M	-916M
Net Interest Expenses	-653M	-591M	-569M	-623M	-916M
Income (Loss) On Equity Invest.	154M	163M	97M	114M	40M
Other Non Operating Income (Expenses)	-43M	-59M	-28M	-66M	72M
EBT, Excl. Unusual Items	7.16B	8.39B	7.32B	6.89B	8.25B
Restructuring Charges	-	-27M	-36M	-100M	-92M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-128M	265M	-114M	-64M
Gain (Loss) On Sale Of Assets	85M	-	-	-	-
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	7.24B	8.24B	7.55B	6.68B	8.1B
Income Tax Expense	1.01B	1.35B	1.24B	948M	1.18B
Earnings From Continuing Operations	6.23B	6.89B	6.32B	5.73B	6.92B
Earnings Of Discontinued Operations	-	-55M	-	-	-
Net Income to Company	6.23B	6.83B	6.32B	5.73B	6.92B
Net Income - (IS)	6.23B	6.83B	6.32B	5.73B	6.92B
Net Income to Common Incl Extra Items	6.23B	6.83B	6.32B	5.73B	6.92B
Net Income to Common Excl. Extra Items	6.23B	6.89B	6.32B	5.73B	6.92B
Per Share Items
Net EPS - Basic	22.09	24.4	22.85	21.74	27.65
Basic EPS - Continuing Operations	22.09	24.6	22.85	21.74	27.65
Basic Weighted Average Shares Outstanding	282M	280M	276M	264M	250M
Net EPS - Diluted	21.95	24.3	22.76	21.66	27.55
Diluted EPS - Continuing Operations	21.95	24.5	22.76	21.66	27.55
Diluted Weighted Average Shares Outstanding	284M	281M	277M	265M	251M
Normalized Basic EPS	15.86	18.73	16.55	16.34	20.61
Normalized Diluted EPS	15.76	18.65	16.49	16.28	20.54
Dividend Per Share	9	9.8	10.6	11.4	12.15
Payout Ratio	41.03	40.45	46.56	52.62	44.16
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	8.78B	10B	9.01B	8.62B	10.22B
EBITA	7.98B	9.15B	8.11B	7.72B	9.3B
EBIT	7.7B	8.88B	7.82B	7.47B	9.06B
EBITDAR	9.02B	10.22B	9.28B	8.9B	10.5B
Total Revenues (As Reported)	59.81B	65.4B	67.04B	65.98B	67.57B
Effective Tax Rate - (Ratio)	13.96	16.36	16.36	14.19	14.55
Current Domestic Taxes	698M	1.29B	1.32B	1.62B	1.57B
Current Foreign Taxes	91M	50M	93M	87M	102M
Total Current Taxes	789M	1.34B	1.42B	1.7B	1.68B
Deferred Domestic Taxes	235M	21M	-194M	-776M	-503M
Deferred Foreign Taxes	-13M	-16M	11M	19M	5M
Total Deferred Taxes	222M	5M	-183M	-757M	-498M
Normalized Net Income	4.47B	5.24B	4.58B	4.31B	5.16B
Non-Cash Pension Expense	577M	-219M	1.29B	971M	-443M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1.3B	1.3B	1.5B	1.7B	1.5B
Net Rental Expense, Total	239M	223M	275M	275M	273M
Imputed Operating Lease Interest Expense	89.62M	81.3M	99.07M	96.81M	117M
Imputed Operating Lease Depreciation	149M	142M	176M	178M	156M
Stock-Based Comp., COGS (Total)	189M	221M	227M	238M	265M
Total Stock-Based Compensation	189M	221M	227M	238M	265M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.51B	3.16B	3.6B	2.55B	1.44B
Total Cash And Short Term Investments	1.51B	3.16B	3.6B	2.55B	1.44B
Accounts Receivable, Total	11.43B	11.52B	12.54B	14.82B	15.32B
Total Receivables	11.43B	11.52B	12.54B	14.82B	15.32B
Inventory	3.62B	3.54B	2.98B	3.09B	3.13B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	531M	1.15B	688M	533M	632M
Total Current Assets	17.1B	19.38B	19.82B	20.99B	20.52B
Gross Property Plant And Equipment	17.98B	19.15B	20.4B	21.24B	22.28B
Accumulated Depreciation	-10.39B	-10.94B	-11.5B	-12.16B	-12.81B
Net Property Plant And Equipment	7.59B	8.21B	8.9B	9.08B	9.47B
Long-term Investments	1.2B	784M	689M	685M	701M
Goodwill	10.6B	10.81B	10.81B	10.78B	10.8B
Other Intangibles, Total	3.72B	3.7B	3.48B	3.38B	3.61B
Deferred Tax Assets Long-Term	3.32B	3.48B	2.29B	3.74B	2.95B
Other Long-Term Assets, Total	4B	4.36B	4.89B	4.23B	4.4B
Total Assets	47.53B	50.71B	50.87B	52.88B	52.46B
Liabilities
Accounts Payable, Total	1.28B	880M	780M	2.12B	2.31B
Accrued Expenses, Total	2.47B	3.16B	3.11B	3.08B	3.13B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	1.25B	500M	6M	-	168M
Current Portion of Leases	250M	274M	325M	327M	315M
Unearned Revenue Current, Total	7.05B	7.54B	8.11B	8.49B	9.19B
Other Current Liabilities	1.67B	1.57B	1.67B	1.88B	1.82B
Total Current Liabilities	13.97B	13.93B	14B	15.89B	16.94B
Long-Term Debt	11.4B	11.67B	11.67B	15.43B	17.29B
Long-Term Leases	855M	841M	1.1B	890M	862M
Pension & Other Post Retirement Benefits	13.57B	12.87B	8.32B	5.47B	6.16B
Other Non Current Liabilities	4.56B	5.36B	4.83B	5.94B	4.37B
Total Liabilities	44.36B	44.67B	39.91B	43.61B	45.62B
Common Stock, Total	280M	279M	271M	254M	240M
Additional Paid In Capital	-	221M	94M	92M	-
Retained Earnings	18.4B	21.64B	21.6B	16.94B	15.4B
Comprehensive Income and Other	-15.55B	-16.12B	-11.01B	-8.02B	-8.8B
Total Common Equity	3.13B	6.02B	10.96B	9.27B	6.84B
Minority Interest	44M	23M	-	-	-
Total Equity	3.17B	6.04B	10.96B	9.27B	6.84B
Total Liabilities And Equity	47.53B	50.71B	50.87B	52.88B	52.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	282M	280M	272M	255M	242M
ECS Total Common Shares Outstanding	280M	279M	271M	254M	242M
Book Value / Share	11.17	21.56	40.44	36.48	28.24
Tangible Book Value	-11.2B	-8.49B	-3.34B	-4.89B	-7.58B
Tangible Book Value Per Share	-40	-30.43	-12.31	-19.26	-31.31
Total Debt	13.76B	13.28B	13.1B	16.65B	18.64B
Net Debt	12.24B	10.12B	9.5B	14.1B	17.19B
Debt Equivalent of Unfunded Proj. Benefit Obligation	13.23B	12.87B	8.26B	5.47B	6.16B
Debt Equivalent Oper. Leases	1.91B	1.78B	2.2B	2.2B	2.18B
Minority Interest, Total (Incl. Fin. Div)	44M	23M	-	-	-
Equity Method Investments, Total	1.2B	784M	689M	685M	701M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	532M	612M	624M	599M	606M
Inventories - Work In Process, Total	2.78B	2.69B	2.16B	2.3B	2.34B
Inventories - Finished Goods, Total	304M	240M	194M	192M	188M
Inventories - Others	-	-	-	-	-
Land - (BS)	136M	142M	144M	147M	144M
Buildings, Total	7.01B	7.42B	8B	8.56B	9.05B
Machinery, Total	8.13B	8.66B	9.05B	9.4B	9.91B
Full Time Employees	110K	114K	114K	116K	122K
Order Backlog	144B	147B	135B	150B	161B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	6.23B	6.83B	6.32B	5.73B	6.92B
Depreciation & Amortization - CF	794M	853M	904M	903M	920M
Amortization of Goodwill and Intangible Assets - (CF)	284M	271M	285M	248M	247M
Depreciation & Amortization, Total	1.08B	1.12B	1.19B	1.15B	1.17B
Amortization of Deferred Charges, Total - (CF)	111M	166M	175M	253M	263M
(Gain) Loss From Sale Of Asset	-51M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	128M	-	-	-
Asset Writedown & Restructuring Costs	-	27M	36M	100M	92M
Stock-Based Compensation (CF)	189M	221M	227M	238M	265M
Net Cash From Discontinued Operations	-	55M	-	-	-
Other Operating Activities, Total	496M	744M	1.49B	1.32B	-971M
Change In Accounts Receivable	485M	-92M	-1.02B	-2.28B	-492M
Change In Inventories	-622M	74M	564M	-107M	-44M
Change In Accounts Payable	-1.1B	-372M	-98M	1.27B	151M
Change in Unearned Revenues	563M	491M	562M	381M	702M
Change In Income Taxes	-151M	-19M	45M	148M	-133M
Change in Other Net Operating Assets	81M	-1.2B	-267M	-412M	-
Cash from Operations	7.31B	8.18B	9.22B	7.8B	7.92B
Capital Expenditure	-1.48B	-1.77B	-1.52B	-1.67B	-1.69B
Cash Acquisitions	-	-282M	-	-	-
Other Investing Activities, Total	243M	38M	361M	-119M	-3M
Cash from Investing	-1.24B	-2.01B	-1.16B	-1.79B	-1.69B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	1.13B	-	6.21B	1.98B
Total Debt Issued	-	1.13B	-	6.21B	1.98B
Short Term Debt Repaid, Total	-600M	-	-	-	-
Long-Term Debt Repaid, Total	-900M	-1.65B	-500M	-2.25B	-115M
Total Debt Repaid	-1.5B	-1.65B	-500M	-2.25B	-115M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-1.2B	-1.1B	-4.09B	-7.9B	-6B
Common Dividends Paid	-2.56B	-2.76B	-2.94B	-3.02B	-3.06B
Common & Preferred Stock Dividends Paid	-2.56B	-2.76B	-2.94B	-3.02B	-3.06B
Other Financing Activities, Total	-72M	-144M	-89M	-115M	-135M
Cash from Financing	-5.33B	-4.53B	-7.62B	-7.07B	-7.33B
Net Change in Cash	742M	1.65B	444M	-1.06B	-1.1B
Supplemental Items
Cash Interest Paid	625M	567M	543M	573M	832M
Cash Income Tax Paid (Refund)	940M	1.4B	1.4B	1.6B	1.8B
Levered Free Cash Flow	3.62B	4.72B	4.84B	3.58B	5.14B
Unlevered Free Cash Flow	4.03B	5.09B	5.2B	3.97B	5.72B
Change In Net Working Capital	676M	200M	-240M	670M	-50M
Net Debt Issued / Repaid	-1.5B	-519M	-500M	3.96B	1.86B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	10.41	11.3	9.62	9	10.75
Return on Total Capital	29.62	31.57	23.13	19.23	22.52
Return On Equity %	269.7	149.59	74.31	56.68	85.96
Return on Common Equity	275.6	150.69	74.41	56.68	85.96
Margin Analysis
Gross Profit Margin %	13.99	13.27	13.57	12.71	12.68
SG&A Margin	1.02	-0.37	1.85	1.31	-0.74
EBITDA Margin %	14.67	15.29	13.44	13.06	15.13
EBITA Margin %	13.35	13.99	12.09	11.7	13.77
EBIT Margin %	12.87	13.57	11.67	11.32	13.41
Income From Continuing Operations Margin %	10.42	10.53	9.42	8.69	10.24
Net Income Margin %	10.42	10.45	9.42	8.69	10.24
Net Avail. For Common Margin %	10.42	10.53	9.42	8.69	10.24
Normalized Net Income Margin	7.48	8.02	6.82	6.53	7.63
Levered Free Cash Flow Margin	6.05	7.22	7.22	5.43	7.61
Unlevered Free Cash Flow Margin	6.74	7.79	7.75	6.02	8.46
Asset Turnover
Asset Turnover	1.29	1.33	1.32	1.27	1.28
Fixed Assets Turnover	8.72	8.84	8.32	7.92	7.75
Receivables Turnover (Average Receivables)	5.12	5.7	5.57	4.82	4.48
Inventory Turnover (Average Inventory)	15.55	15.83	17.76	18.98	18.97
Short Term Liquidity
Current Ratio	1.22	1.39	1.42	1.32	1.21
Quick Ratio	0.93	1.05	1.15	1.09	0.99
Operating Cash Flow to Current Liabilities	0.52	0.59	0.66	0.49	0.47
Days Sales Outstanding (Average Receivables)	71.24	64.23	65.51	75.69	81.4
Days Outstanding Inventory (Average Inventory)	23.47	23.11	20.55	19.23	19.24
Average Days Payable Outstanding	12.91	6.98	5.28	9.16	13.69
Cash Conversion Cycle (Average Days)	81.8	80.36	80.78	85.75	86.95
Long Term Solvency
Total Debt/Equity	433.9	220.01	119.55	179.65	272.66
Total Debt / Total Capital	81.27	68.75	54.45	64.24	73.17
LT Debt/Equity	386.6	207.19	116.53	176.12	265.59
Long-Term Debt / Total Capital	72.41	64.74	53.08	62.98	71.27
Total Liabilities / Total Assets	93.33	88.09	78.46	82.48	86.97
EBIT / Interest Expense	11.79	15.02	13.75	11.99	9.89
EBITDA / Interest Expense	13.81	17.3	16.32	14.28	11.46
(EBITDA - Capex) / Interest Expense	11.53	14.31	13.64	11.6	9.61
Total Debt / EBITDA	1.53	1.3	1.41	1.87	1.78
Net Debt / EBITDA	1.36	0.99	1.02	1.59	1.64
Total Debt / (EBITDA - Capex)	1.83	1.57	1.69	2.3	2.12
Net Debt / (EBITDA - Capex)	1.63	1.2	1.22	1.95