Stock LMT LOCKHEED MARTIN CORPORATION
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Financials Lockheed Martin Corporation

Equities

LMT

US5398301094

Aerospace & Defense

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
461.3 USD -0.75% Intraday chart for Lockheed Martin Corporation -0.56% +1.78%
Apr. 26 US announces purchase of $6 bln in weapons for Ukraine RE
Apr. 26 Defence firm Saab raises sales outlook after Q1 profit jump RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 109,833 99,318 98,017 127,496 112,448 110,681 - -
Enterprise Value (EV) 1 120,973 108,327 106,089 140,378 128,465 127,574 127,457 127,336
P/E ratio 17.7 x 14.6 x 15.6 x 22.5 x 16.5 x 17.6 x 16.4 x 15.6 x
Yield 2.31% 2.76% 2.98% 2.34% - 2.77% 2.93% 3.11%
Capitalization / Revenue 1.84 x 1.52 x 1.46 x 1.93 x 1.66 x 1.59 x 1.54 x 1.48 x
EV / Revenue 2.02 x 1.66 x 1.58 x 2.13 x 1.9 x 1.84 x 1.77 x 1.71 x
EV / EBITDA 12.4 x 10.9 x 10.1 x 14.4 x 12.9 x 13 x 12.4 x 12.1 x
EV / FCF 20.8 x 16.9 x 13.8 x 22.9 x 20.6 x 20.5 x 20.7 x 19.7 x
FCF Yield 4.82% 5.92% 7.26% 4.37% 4.85% 4.87% 4.82% 5.07%
Price to Book 34.9 x 16.5 x 8.79 x 13.3 x 16.7 x 17.5 x 16 x 14.1 x
Nbr of stocks (in thousands) 282,071 279,784 275,786 262,074 248,099 239,938 - -
Reference price 2 389.4 355.0 355.4 486.5 453.2 461.3 461.3 461.3
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 69,522 72,078 74,662
EBITDA 1 9,734 9,934 10,487 9,752 9,937 9,781 10,251 10,564
EBIT 1 8,545 8,644 9,123 8,348 8,507 8,330 8,684 8,885
Operating Margin 14.29% 13.22% 13.61% 12.65% 12.59% 11.98% 12.05% 11.9%
Earnings before Tax (EBT) 1 7,241 8,235 7,550 6,680 8,098 7,390 7,908 8,026
Net income 1 6,230 6,833 6,315 5,732 6,920 6,258 6,617 6,763
Net margin 10.42% 10.45% 9.42% 8.69% 10.24% 9% 9.18% 9.06%
EPS 2 21.95 24.30 22.76 21.66 27.55 26.21 28.13 29.53
Free Cash Flow 1 5,827 6,417 7,699 6,132 6,229 6,209 6,149 6,460
FCF margin 9.74% 9.81% 11.48% 9.29% 9.22% 8.93% 8.53% 8.65%
FCF Conversion (EBITDA) 59.86% 64.6% 73.41% 62.88% 62.68% 63.48% 59.98% 61.15%
FCF Conversion (Net income) 93.53% 93.91% 121.92% 106.98% 90.01% 99.21% 92.93% 95.53%
Dividend per Share 2 9.000 9.800 10.60 11.40 - 12.78 13.51 14.34
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 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 2025 Q2
Net sales 1 17,729 14,964 15,446 16,583 18,991 15,126 16,693 16,878 18,874 17,195 16,986 17,303 18,521 17,585 17,562
EBITDA 1 2,820 2,262 2,306 2,452 2,732 2,362 2,469 2,392 2,714 2,380 2,398 2,425 2,590 2,465 2,505
EBIT 1 2,455 1,933 1,963 2,159 2,293 2,037 2,135 2,042 2,293 2,029 2,056 2,049 2,225 2,082 2,090
Operating Margin 13.85% 12.92% 12.71% 13.02% 12.07% 13.47% 12.79% 12.1% 12.15% 11.8% 12.11% 11.84% 12.01% 11.84% 11.9%
Earnings before Tax (EBT) 1 2,490 2,061 330 2,099 2,190 1,994 2,006 1,953 2,145 1,835 1,824 1,766 2,039 1,724 1,786
Net income 1 2,049 1,733 309 1,778 1,912 1,689 1,681 1,684 1,866 1,545 1,538 1,515 1,696 1,518 1,562
Net margin 11.56% 11.58% 2% 10.72% 10.07% 11.17% 10.07% 9.98% 9.89% 8.99% 9.05% 8.76% 9.16% 8.63% 8.9%
EPS 2 7.470 6.440 1.160 6.710 7.400 6.610 6.630 6.730 7.580 6.390 6.421 6.427 7.212 6.451 6.690
Dividend per Share 2 2.800 2.800 2.800 2.800 2.800 3.000 3.000 3.150 - - 3.167 3.222 3.301 3.307 3.286
Announcement Date 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 4/23/24 - - - - -
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 16,893 16,776 16,655
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.144 x 0.9069 x 0.7697 x 1.321 x 1.612 x 1.727 x 1.636 x 1.576 x
Free Cash Flow 1 5,827 6,417 7,699 6,132 6,229 6,209 6,149 6,460
ROE (net income / shareholders' equity) 177% 151% 74.4% 71.3% 86% 97.7% 104% 105%
ROA (Net income/ Total Assets) 13.5% 14% 12.4% 11% 13.1% 11.8% 12.3% 12.9%
Assets 1 46,202 48,727 50,791 51,877 52,668 53,253 53,650 52,462
Book Value Per Share 2 11.20 21.60 40.40 36.50 27.20 26.40 28.80 32.80
Cash Flow per Share 2 25.80 29.10 33.20 29.50 31.50 32.80 35.20 36.90
Capex 1 1,484 1,766 1,522 1,670 1,691 1,749 1,810 1,863
Capex / Sales 2.48% 2.7% 2.27% 2.53% 2.5% 2.52% 2.51% 2.5%
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

Ratings for Lockheed Martin Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
24
Last Close Price
461.3 USD
Average target price
487.9 USD
Spread / Average Target
+5.76%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Commercial Aircraft Manufacturing

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Commercial Aircraft Manufacturing
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