Financials Lockheed Martin Corporation

Equities

LMT

US5398301094

Aerospace & Defense

Market Closed - Nyse 04:00:02 2024-04-19 pm EDT 5-day change 1st Jan Change
463.9 USD +1.71% Intraday chart for Lockheed Martin Corporation +2.99% +2.35%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 109,833 99,318 98,017 127,496 112,448 111,559 - -
Enterprise Value (EV) 1 120,973 108,327 106,089 140,378 128,465 128,398 128,278 128,119
P/E ratio 17.7 x 14.6 x 15.6 x 22.5 x 16.5 x 17.8 x 16.6 x 15.8 x
Yield 2.31% 2.76% 2.98% 2.34% - 2.76% 2.93% 3.08%
Capitalization / Revenue 1.84 x 1.52 x 1.46 x 1.93 x 1.66 x 1.61 x 1.55 x 1.5 x
EV / Revenue 2.02 x 1.66 x 1.58 x 2.13 x 1.9 x 1.85 x 1.79 x 1.72 x
EV / EBITDA 12.4 x 10.9 x 10.1 x 14.4 x 12.9 x 13.1 x 12.6 x 12.2 x
EV / FCF 20.8 x 16.9 x 13.8 x 22.9 x 20.6 x 20.6 x 20.7 x 19.9 x
FCF Yield 4.82% 5.92% 7.26% 4.37% 4.85% 4.86% 4.84% 5.02%
Price to Book 34.9 x 16.5 x 8.79 x 13.3 x 16.7 x 17.8 x 16.3 x 14.3 x
Nbr of stocks (in thousands) 282,071 279,784 275,786 262,074 248,099 240,495 - -
Reference price 2 389.4 355.0 355.4 486.5 453.2 463.9 463.9 463.9
Announcement Date 1/28/20 1/26/21 1/25/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59,812 65,398 67,044 65,984 67,571 69,324 71,782 74,328
EBITDA 1 9,734 9,934 10,487 9,752 9,937 9,781 10,192 10,466
EBIT 1 8,545 8,644 9,123 8,348 8,507 8,322 8,632 8,834
Operating Margin 14.29% 13.22% 13.61% 12.65% 12.59% 12% 12.03% 11.89%
Earnings before Tax (EBT) 1 7,241 8,235 7,550 6,680 8,098 7,386 7,895 8,057
Net income 1 6,230 6,833 6,315 5,732 6,920 6,243 6,600 6,796
Net margin 10.42% 10.45% 9.42% 8.69% 10.24% 9.01% 9.19% 9.14%
EPS 2 21.95 24.30 22.76 21.66 27.55 26.04 27.94 29.32
Free Cash Flow 1 5,827 6,417 7,699 6,132 6,229 6,241 6,206 6,435
FCF margin 9.74% 9.81% 11.48% 9.29% 9.22% 9% 8.65% 8.66%
FCF Conversion (EBITDA) 59.86% 64.6% 73.41% 62.88% 62.68% 63.81% 60.89% 61.49%
FCF Conversion (Net income) 93.53% 93.91% 121.92% 106.98% 90.01% 99.97% 94.03% 94.7%
Dividend per Share 2 9.000 9.800 10.60 11.40 - 12.82 13.61 14.31
Announcement Date 1/28/20 1/26/21 1/25/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 16,028 17,729 14,964 15,446 16,583 18,991 15,126 16,693 16,878 18,874 15,992 16,984 17,409 19,176 16,314
EBITDA 1 2,623 2,820 2,262 2,306 2,452 2,732 2,362 2,469 2,392 2,714 2,230 2,410 2,427 2,695 2,309
EBIT 1 2,294 2,455 1,933 1,963 2,159 2,293 2,037 2,135 2,042 2,293 1,905 2,044 2,072 2,292 1,937
Operating Margin 14.31% 13.85% 12.92% 12.71% 13.02% 12.07% 13.47% 12.79% 12.1% 12.15% 11.91% 12.04% 11.9% 11.95% 11.87%
Earnings before Tax (EBT) 1 679 2,490 2,061 330 2,099 2,190 1,994 2,006 1,953 2,145 1,666 1,806 1,850 2,041 1,652
Net income 1 614 2,049 1,733 309 1,778 1,912 1,689 1,681 1,684 1,866 1,403 1,522 1,552 1,738 1,440
Net margin 3.83% 11.56% 11.58% 2% 10.72% 10.07% 11.17% 10.07% 9.98% 9.89% 8.78% 8.96% 8.92% 9.06% 8.82%
EPS 2 2.210 7.470 6.440 1.160 6.710 7.400 6.610 6.630 6.730 7.580 5.822 6.423 6.523 7.317 6.203
Dividend per Share 2 2.600 2.800 2.800 2.800 2.800 2.800 3.000 3.000 3.150 - 3.160 3.165 3.213 3.327 3.369
Announcement Date 10/26/21 1/25/22 4/19/22 7/19/22 10/18/22 1/24/23 4/18/23 7/18/23 10/17/23 1/23/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,140 9,009 8,072 12,882 16,017 16,839 16,720 16,561
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.144 x 0.9069 x 0.7697 x 1.321 x 1.612 x 1.722 x 1.64 x 1.582 x
Free Cash Flow 1 5,827 6,417 7,699 6,132 6,229 6,241 6,206 6,435
ROE (net income / shareholders' equity) 177% 151% 74.4% 71.3% 86% 97.5% 103% 99.3%
ROA (Net income/ Total Assets) 13.5% 14% 12.4% 11% 13.1% 11.8% 12.4% 13.1%
Assets 1 46,202 48,727 50,791 51,877 52,668 52,695 53,182 51,905
Book Value Per Share 2 11.20 21.60 40.40 36.50 27.20 26.00 28.40 32.50
Cash Flow per Share 2 25.80 29.10 33.20 29.50 31.50 32.70 35.40 37.00
Capex 1 1,484 1,766 1,522 1,670 1,691 1,752 1,823 1,853
Capex / Sales 2.48% 2.7% 2.27% 2.53% 2.5% 2.53% 2.54% 2.49%
Announcement Date 1/28/20 1/26/21 1/25/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
463.9 USD
Average target price
485.8 USD
Spread / Average Target
+4.73%
Consensus
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