Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Common-Size Income Statement 

Lockheed Martin Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Products 83.27 84.06 84.18 83.99 83.68
Services 16.73 15.94 15.82 16.01 16.32
Net sales 100.00% 100.00% 100.00% 100.00% 100.00%
Products -74.30 -75.13 -74.99 -74.92 -74.55
Services -14.84 -14.06 -14.11 -14.33 -14.60
Severance and restructuring charges -0.14 -0.15 -0.05 -0.04 0.00
Other unallocated, net 1.82 1.91 2.67 2.52 3.13
Cost of sales -87.45% -87.44% -86.48% -86.77% -86.01%
Gross profit 12.55% 12.56% 13.52% 13.23% 13.99%
Other income (expense), net 0.04 0.09 0.09 -0.02 0.30
Operating profit 12.59% 12.65% 13.61% 13.22% 14.29%
Interest expense -1.36 -0.94 -0.85 -0.90 -1.09
Non-service FAS pension income (expense) 0.66 -1.47 -1.93 0.33 -0.96
Other non-operating income (expense), net 0.09 -0.11 0.43 -0.06 -0.12
Earnings from continuing operations before income taxes 11.98% 10.12% 11.26% 12.59% 12.11%
Income tax expense -1.74 -1.44 -1.84 -2.06 -1.69
Net earnings from continuing operations 10.24% 8.69% 9.42% 10.53% 10.42%
Net loss from discontinued operations 0.00 0.00 0.00 -0.08 0.00
Net earnings 10.24% 8.69% 9.42% 10.45% 10.42%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Lockheed Martin Corp. operating profit as a percentage of net sales decreased from 2021 to 2022 and from 2022 to 2023.
Earnings from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lockheed Martin Corp. earnings from continuing operations before income taxes as a percentage of net sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lockheed Martin Corp. net earnings as a percentage of net sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.