Company Valuation: Lockheed Martin Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 98,017 127,496 112,448 115,185 111,920 150,146 - -
Change - 30.08% -11.8% 2.43% -2.83% 34.15% - -
Enterprise Value (EV) 1 106,089 140,378 128,465 132,972 129,499 165,015 165,091 163,735
Change - 32.32% -8.49% 3.51% -2.61% 27.43% 0.05% -0.82%
P/E ratio 15.6x 22.5x 16.5x 21.8x 22.5x 21.8x 20.5x 19.2x
PBR 8.79x 13.3x 16.7x 18.4x - 16.1x 14.5x 12x
PEG - -4.66x 0.6x -1.1x -6.12x 0.6x 3.06x 3.02x
Capitalization / Revenue 1.46x 1.93x 1.66x 1.62x 1.49x 1.9x 1.81x 1.73x
EV / Revenue 1.58x 2.13x 1.9x 1.87x 1.73x 2.09x 1.99x 1.89x
EV / EBITDA 10.1x 14.4x 12.9x 15.5x 13.8x 14.6x 14x 13.3x
EV / EBIT 11.6x 16.8x 15.1x 19x 16.8x 17.2x 16.4x 15.8x
EV / FCF 13.8x 22.9x 20.6x 25.2x 18.7x 24.7x 26x 25.1x
FCF Yield 7.26% 4.37% 4.85% 3.98% 5.33% 4.04% 3.85% 3.98%
Dividend per Share 2 10.6 11.4 12.15 12.75 - 13.96 14.56 15.42
Rate of return 2.98% 2.34% 2.68% 2.62% - 2.14% 2.23% 2.36%
EPS 2 22.76 21.66 27.55 22.31 21.49 29.88 31.88 33.91
Distribution rate 46.6% 52.6% 44.1% 57.1% - 46.7% 45.7% 45.5%
Net sales 1 67,044 65,984 67,571 71,043 75,048 79,027 82,899 86,609
EBITDA 1 10,487 9,752 9,937 8,572 9,418 11,270 11,754 12,294
EBIT 1 9,123 8,348 8,507 7,013 7,731 9,611 10,053 10,387
Net income 1 6,315 5,732 6,920 5,336 5,017 6,904 7,310 7,740
Net Debt 1 8,072 12,882 16,017 17,787 17,579 14,869 14,946 13,589
Reference price 2 355.41 486.49 453.24 485.94 483.67 652.58 652.58 652.58
Nbr of stocks (in thousands) 275,786 262,074 248,099 237,035 231,398 230,080 - -
Announcement Date 1/25/22 1/24/23 1/23/24 1/28/25 1/29/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.84x2.09x14.64x2.14% 150B
83.72x2.19x42.37x-.--% 191B
31.03x1.89x14.17x1.38% 180B
28.55x2.33x20.95x1.31% 30.62B
17.64x1.23x10.2x0.08% 17.08B
28.66x1.68x14.5x1.78% 12.71B
-8.22x227.14x-16.72x-.--% 9.6B
50.63x - - - 4.51B
-3.16x78.03x-8.13x - 4B
20.5x - - 1.05% 3.15B
Average 27.12x 39.57x 11.50x 0.97% 60.29B
Weighted average by Cap. 44.10x 6.18x 22.92x 1.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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