Financials Lockheed Martin Corporation

Equities

LMT

US5398301094

Aerospace & Defense

Market Closed - Nyse Other stock markets 21:00:02 10/09/2024 BST			5-day change	1st Jan Change
572.19 ^USD	-0.76%		+0.88%	+26.24%

09-10	Lockheed Martin Collaborates With Tata Advanced Systems on Potential Business Opportunities in India	MT
09-10	FTAI Aviation Completes Acquisition of Lockheed Martin Montreal Facility	MT

Projected Income Statement: Lockheed Martin Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	59,812	65,398	67,044	65,984	67,571	71,256	74,214	76,969
Change	-	9.34%	2.52%	-1.58%	2.41%	5.45%	4.15%	3.71%
EBITDA ¹	9,734	9,934	10,487	9,752	9,937	9,802	10,323	10,818
Change	-	2.05%	5.57%	-7.01%	1.9%	-1.36%	5.31%	4.8%
EBIT ¹	8,545	8,644	9,123	8,348	8,507	8,368	8,822	9,179
Change	-	1.16%	5.54%	-8.5%	1.9%	-1.63%	5.42%	4.05%
Interest Paid ¹	-653	-591	-569	-623	-916	-1,029	-1,004	-938.8
Earnings before Tax (EBT) ¹	7,241	8,235	7,550	6,680	8,098	7,461	7,825	8,154
Change	-	13.73%	-8.32%	-11.52%	21.23%	-7.87%	4.89%	4.2%
Net income ¹	6,230	6,833	6,315	5,732	6,920	6,305	6,641	6,902
Change	-	9.68%	-7.58%	-9.23%	20.73%	-8.89%	5.33%	3.92%
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2
Net sales ¹	15,171	15,878	15,651	16,220	16,495	17,032	16,258	17,029	16,028	17,729	14,964	15,446	16,583	18,991	15,126	16,693	16,878	18,874	17,195	18,122	17,478	18,466	17,628	18,600	18,350	19,520	18,336	19,752
Change	-	4.66%	-1.43%	3.64%	1.7%	3.26%	-4.54%	4.74%	-5.88%	10.61%	-15.6%	3.22%	7.36%	14.52%	-20.35%	10.36%	1.11%	11.83%	-8.9%	5.39%	-3.56%	5.66%	-4.54%	5.51%	-1.34%	6.38%	-6.06%	7.72%
EBITDA ¹	2,407	2,471	2,423	2,393	2,466	2,652	2,518	2,526	2,623	2,820	2,262	2,306	2,452	2,732	2,362	2,469	2,392	2,714	2,380	2,507	2,427	2,489	2,454	2,580	2,594	2,673	2,599	2,803
Change	-	2.66%	-1.94%	-1.24%	3.05%	7.54%	-5.05%	0.32%	3.84%	7.51%	-19.79%	1.95%	6.33%	11.42%	-13.54%	4.53%	-3.12%	13.46%	-12.31%	5.34%	-3.21%	2.56%	-1.41%	5.15%	0.53%	3.04%	-2.75%	7.83%
EBIT ¹	2,105	2,149	2,122	2,086	2,147	2,289	2,182	2,192	2,294	2,455	1,933	1,963	2,159	2,293	2,037	2,135	2,042	2,293	2,029	2,148	2,049	2,124	2,093	2,223	2,232	2,304	2,196	2,368
Change	-	2.09%	-1.26%	-1.7%	2.92%	6.61%	-4.67%	0.46%	4.65%	7.02%	-21.26%	1.55%	9.98%	6.21%	-11.16%	4.81%	-4.36%	12.29%	-11.51%	5.86%	-4.63%	3.7%	-1.48%	6.19%	0.42%	3.24%	-4.7%	7.85%
Charge d'intérêts ¹	-162	-157	-148	-149	-145	-149	-140	-142	-141	-146	-135	-141	-145	-202	-202	-223	-237	-254	-255	-261	-257.8	-255.7	-249.2	-250.5	-252.5	-251.8	-	-
Earnings before Tax (EBT) ¹	1,781	1,832	2,030	1,962	2,056	2,187	2,211	2,170	679	2,490	2,061	330	2,099	2,190	1,994	2,006	1,953	2,145	1,835	1,948	1,778	1,898	1,791	1,862	1,899	2,002	1,811	1,995
Change	-	2.86%	10.81%	-3.35%	4.79%	6.37%	1.1%	-1.85%	-68.71%	266.72%	-17.23%	-83.99%	536.06%	4.34%	-8.95%	0.6%	-2.64%	9.83%	-14.45%	6.16%	-8.71%	6.72%	-5.6%	3.93%	1.98%	5.45%	-9.54%	10.13%
Net income ¹	1,608	1,498	1,717	1,626	1,698	1,792	1,837	1,815	614	2,049	1,733	309	1,778	1,912	1,689	1,681	1,684	1,866	1,545	1,641	1,517	1,602	1,554	1,642	1,667	1,731	1,633	1,771
Change	-	-6.84%	14.62%	-5.3%	4.43%	5.54%	2.51%	-1.2%	-66.17%	233.71%	-15.42%	-82.17%	475.4%	7.54%	-11.66%	-0.47%	0.18%	10.81%	-17.2%	6.21%	-7.56%	5.62%	-2.99%	5.62%	1.54%	3.85%	-5.69%	8.46%
Announcement Date	22/10/19	28/01/20	21/04/20	21/07/20	20/10/20	26/01/21	20/04/21	26/07/21	26/10/21	25/01/22	19/04/22	19/07/22	18/10/22	24/01/23	18/04/23	18/07/23	17/10/23	23/01/24	23/04/24	23/07/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Lockheed Martin Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	11,140	9,009	8,072	12,882	16,017	16,954	17,007	16,701
Change	-	-19.13%	-10.4%	59.59%	24.34%	5.85%	0.31%	-1.8%
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Lockheed Martin Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	1,484	1,766	1,522	1,670	1,691	1,760	1,825	1,848
Change	-	19%	-13.82%	9.72%	1.26%	4.11%	3.68%	1.23%
Free Cash Flow (FCF) ¹	5,827	6,417	7,699	6,132	6,229	6,211	6,312	6,732
Change	-	10.13%	19.98%	-20.35%	1.58%	-0.29%	1.62%	6.66%
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Lockheed Martin Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	16.27%	15.19%	15.64%	14.78%	14.71%	13.76%	13.91%	14.06%
EBIT Margin (%)	14.29%	13.22%	13.61%	12.65%	12.59%	11.74%	11.89%	11.93%
EBT Margin (%)	12.11%	12.59%	11.26%	10.12%	11.98%	10.47%	10.54%	10.59%
Net margin (%)	10.42%	10.45%	9.42%	8.69%	10.24%	8.85%	8.95%	8.97%
FCF margin (%)	9.74%	9.81%	11.48%	9.29%	9.22%	8.72%	8.5%	8.75%
FCF / Net Income (%)	93.53%	93.91%	121.92%	106.98%	90.01%	98.51%	95.04%	97.54%
Profitability
ROA	13.48%	14.02%	12.43%	11.05%	13.14%	12.02%	12.65%	13.14%
ROE	177.49%	150.69%	74.41%	71.32%	85.96%	101.53%	113.58%	111.52%
Financial Health
Leverage (Debt/EBITDA)	1.14x	0.91x	0.77x	1.32x	1.61x	1.73x	1.65x	1.54x
Debt / Free cash flow	1.91x	1.4x	1.05x	2.1x	2.57x	2.73x	2.69x	2.48x
Capital Intensity
CAPEX / Current Assets (%)	2.48%	2.7%	2.27%	2.53%	2.5%	2.47%	2.46%	2.4%
CAPEX / EBITDA (%)	15.25%	17.78%	14.51%	17.12%	17.02%	17.96%	17.68%	17.08%
CAPEX / FCF (%)	25.47%	27.52%	19.77%	27.23%	27.15%	28.34%	28.92%	27.44%
Items per share
Cash flow per share ¹	25.76	29.1	33.24	29.49	31.53	33.02	35.81	39.1
Change	-	12.96%	14.23%	-11.3%	6.93%	4.73%	8.46%	9.18%
Dividend per Share ¹	9	9.8	10.6	11.4	-	12.81	13.53	14.34
Change	-	8.89%	8.16%	7.55%	-	-	5.67%	5.99%
Book Value Per Share ¹	11.17	21.56	40.44	36.48	27.21	24.91	27.33	31.1
Change	-	93.05%	87.57%	-9.79%	-25.41%	-8.46%	9.71%	13.82%
EPS ¹	21.95	24.3	22.76	21.66	27.55	26.44	28.6	30.41
Change	-	10.71%	-6.34%	-4.83%	27.19%	-4.03%	8.16%	6.33%
Nbr of stocks (in thousands)	282,071	279,784	275,786	262,074	248,099	238,358	238,358	238,358
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-