Analysis of Reportable Segments
Lockheed Martin Corp. operates in 4 segments: Aeronautics; Missiles and Fire Control (MFC); Rotary and Mission Systems (RMS); and Space.
Segment Profit Margin
Lockheed Martin Corp., profit margin by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 8.70% | 10.17% | 10.52% | 10.38% | 10.72% |
| Missiles and Fire Control (MFC) | 3.06% | 12.91% | 13.69% | 13.39% | 13.07% |
| Rotary and Mission Systems (RMS) | 9.81% | 10.16% | 9.25% | 9.62% | 9.02% |
| Space | 9.53% | 8.93% | 8.77% | 9.31% | 9.37% |
Based on: 10-K (reporting date: 2024-12-31), 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Aeronautics | Aeronautics segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. | |
| Space | Space segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Aeronautics
Lockheed Martin Corp.; Aeronautics; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 2,523) | 2,825) | 2,866) | 2,799) | 2,843) |
| Net sales | 28,995) | 27,777) | 27,236) | 26,967) | 26,509) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 8.70% | 10.17% | 10.52% | 10.38% | 10.72% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × 2,523 ÷ 28,995 = 8.70%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Aeronautics | Aeronautics segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Missiles and Fire Control (MFC)
Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 413) | 1,541) | 1,635) | 1,648) | 1,545) |
| Net sales | 13,486) | 11,941) | 11,944) | 12,311) | 11,819) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 3.06% | 12.91% | 13.69% | 13.39% | 13.07% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × 413 ÷ 13,486 = 3.06%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Rotary and Mission Systems (RMS)
Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 1,921) | 1,865) | 1,673) | 1,798) | 1,615) |
| Net sales | 19,584) | 18,364) | 18,078) | 18,684) | 17,898) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.81% | 10.16% | 9.25% | 9.62% | 9.02% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × 1,921 ÷ 19,584 = 9.81%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment Profit Margin: Space
Lockheed Martin Corp.; Space; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 1,226) | 1,158) | 1,045) | 1,134) | 1,149) |
| Net sales | 12,871) | 12,963) | 11,913) | 12,174) | 12,257) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.53% | 8.93% | 8.77% | 9.31% | 9.37% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × 1,226 ÷ 12,871 = 9.53%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Space | Space segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Return on Assets (Segment ROA)
Lockheed Martin Corp., ROA by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 19.08% | 21.46% | 23.77% | 26.02% | 28.71% |
| Missiles and Fire Control (MFC) | 6.94% | 27.02% | 28.25% | 31.43% | 31.11% |
| Rotary and Mission Systems (RMS) | 11.28% | 10.64% | 9.30% | 10.18% | 8.95% |
| Space | 16.59% | 17.65% | 16.45% | 18.29% | 17.81% |
Based on: 10-K (reporting date: 2024-12-31), 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Aeronautics | Aeronautics segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment ROA improved from 2022 to 2023 and from 2023 to 2024. | |
| Space | Space segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Segment ROA: Aeronautics
Lockheed Martin Corp.; Aeronautics; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 2,523) | 2,825) | 2,866) | 2,799) | 2,843) |
| Assets | 13,223) | 13,167) | 12,055) | 10,756) | 9,903) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 19.08% | 21.46% | 23.77% | 26.02% | 28.71% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × 2,523 ÷ 13,223 = 19.08%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Aeronautics | Aeronautics segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Missiles and Fire Control (MFC)
Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 413) | 1,541) | 1,635) | 1,648) | 1,545) |
| Assets | 5,952) | 5,703) | 5,788) | 5,243) | 4,966) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 6.94% | 27.02% | 28.25% | 31.43% | 31.11% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × 413 ÷ 5,952 = 6.94%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Rotary and Mission Systems (RMS)
Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 1,921) | 1,865) | 1,673) | 1,798) | 1,615) |
| Assets | 17,025) | 17,521) | 17,988) | 17,664) | 18,035) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 11.28% | 10.64% | 9.30% | 10.18% | 8.95% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × 1,921 ÷ 17,025 = 11.28%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment ROA improved from 2022 to 2023 and from 2023 to 2024. |
Segment ROA: Space
Lockheed Martin Corp.; Space; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating profit | 1,226) | 1,158) | 1,045) | 1,134) | 1,149) |
| Assets | 7,388) | 6,560) | 6,351) | 6,199) | 6,451) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 16.59% | 17.65% | 16.45% | 18.29% | 17.81% |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × 1,226 ÷ 7,388 = 16.59%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Space | Space segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Segment Asset Turnover
Lockheed Martin Corp., asset turnover by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 2.19 | 2.11 | 2.26 | 2.51 | 2.68 |
| Missiles and Fire Control (MFC) | 2.27 | 2.09 | 2.06 | 2.35 | 2.38 |
| Rotary and Mission Systems (RMS) | 1.15 | 1.05 | 1.01 | 1.06 | 0.99 |
| Space | 1.74 | 1.98 | 1.88 | 1.96 | 1.90 |
Based on: 10-K (reporting date: 2024-12-31), 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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Aeronautics | Aeronautics segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Space | Space segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Asset Turnover: Aeronautics
Lockheed Martin Corp.; Aeronautics; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 28,995) | 27,777) | 27,236) | 26,967) | 26,509) |
| Assets | 13,223) | 13,167) | 12,055) | 10,756) | 9,903) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.19 | 2.11 | 2.26 | 2.51 | 2.68 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment asset turnover = Net sales ÷ Assets
= 28,995 ÷ 13,223 = 2.19
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Aeronautics | Aeronautics segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Segment Asset Turnover: Missiles and Fire Control (MFC)
Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 13,486) | 11,941) | 11,944) | 12,311) | 11,819) |
| Assets | 5,952) | 5,703) | 5,788) | 5,243) | 4,966) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.27 | 2.09 | 2.06 | 2.35 | 2.38 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment asset turnover = Net sales ÷ Assets
= 13,486 ÷ 5,952 = 2.27
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Rotary and Mission Systems (RMS)
Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 19,584) | 18,364) | 18,078) | 18,684) | 17,898) |
| Assets | 17,025) | 17,521) | 17,988) | 17,664) | 18,035) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.15 | 1.05 | 1.01 | 1.06 | 0.99 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment asset turnover = Net sales ÷ Assets
= 19,584 ÷ 17,025 = 1.15
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Space
Lockheed Martin Corp.; Space; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 12,871) | 12,963) | 11,913) | 12,174) | 12,257) |
| Assets | 7,388) | 6,560) | 6,351) | 6,199) | 6,451) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.74 | 1.98 | 1.88 | 1.96 | 1.90 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment asset turnover = Net sales ÷ Assets
= 12,871 ÷ 7,388 = 1.74
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Space | Space segment asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Capital Expenditures to Depreciation
Lockheed Martin Corp., capital expenditures to depreciation by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 1.31 | 1.29 | 1.20 | 1.37 | 1.53 |
| Missiles and Fire Control (MFC) | 1.45 | 1.44 | 1.58 | 1.99 | 2.88 |
| Rotary and Mission Systems (RMS) | 1.01 | 1.00 | 1.09 | 1.12 | 1.27 |
| Space | 1.36 | 2.06 | 1.95 | 1.49 | 2.21 |
Based on: 10-K (reporting date: 2024-12-31), 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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Aeronautics | Aeronautics segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. | |
| Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. | |
| Space | Space segment capital expenditures to depreciation ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Aeronautics
Lockheed Martin Corp.; Aeronautics; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 593) | 535) | 461) | 477) | 534) |
| PP&E depreciation and software amortization | 452) | 416) | 383) | 348) | 348) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.31 | 1.29 | 1.20 | 1.37 | 1.53 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= 593 ÷ 452 = 1.31
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Aeronautics | Aeronautics segment capital expenditures to depreciation ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Missiles and Fire Control (MFC)
Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 265) | 252) | 253) | 304) | 391) |
| PP&E depreciation and software amortization | 183) | 175) | 160) | 153) | 136) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.45 | 1.44 | 1.58 | 1.99 | 2.88 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= 265 ÷ 183 = 1.45
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Missiles and Fire Control (MFC) | Missiles and Fire Control (MFC) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Rotary and Mission Systems (RMS)
Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 230) | 220) | 266) | 279) | 311) |
| PP&E depreciation and software amortization | 227) | 220) | 245) | 250) | 244) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.01 | 1.00 | 1.09 | 1.12 | 1.27 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= 230 ÷ 227 = 1.01
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Rotary and Mission Systems (RMS) | Rotary and Mission Systems (RMS) segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Space
Lockheed Martin Corp.; Space; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 366) | 455) | 391) | 305) | 403) |
| PP&E depreciation and software amortization | 270) | 221) | 201) | 205) | 182) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.36 | 2.06 | 1.95 | 1.49 | 2.21 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= 366 ÷ 270 = 1.36
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Space | Space segment capital expenditures to depreciation ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Net sales
Lockheed Martin Corp., net sales by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 28,995) | 27,777) | 27,236) | 26,967) | 26,509) |
| Missiles and Fire Control (MFC) | 13,486) | 11,941) | 11,944) | 12,311) | 11,819) |
| Rotary and Mission Systems (RMS) | 19,584) | 18,364) | 18,078) | 18,684) | 17,898) |
| Space | 12,871) | 12,963) | 11,913) | 12,174) | 12,257) |
| Intersegment sales | (3,893) | (3,474) | (3,187) | (3,092) | (3,085) |
| Total | 71,043) | 67,571) | 65,984) | 67,044) | 65,398) |
Based on: 10-K (reporting date: 2024-12-31), 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).
Operating profit
Lockheed Martin Corp., operating profit by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 2,523) | 2,825) | 2,866) | 2,799) | 2,843) |
| Missiles and Fire Control (MFC) | 413) | 1,541) | 1,635) | 1,648) | 1,545) |
| Rotary and Mission Systems (RMS) | 1,921) | 1,865) | 1,673) | 1,798) | 1,615) |
| Space | 1,226) | 1,158) | 1,045) | 1,134) | 1,149) |
| Total | 6,083) | 7,389) | 7,219) | 7,379) | 7,152) |
Based on: 10-K (reporting date: 2024-12-31), 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).
Capital expenditures
Lockheed Martin Corp., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 593) | 535) | 461) | 477) | 534) |
| Missiles and Fire Control (MFC) | 265) | 252) | 253) | 304) | 391) |
| Rotary and Mission Systems (RMS) | 230) | 220) | 266) | 279) | 311) |
| Space | 366) | 455) | 391) | 305) | 403) |
| Total | 1,454) | 1,462) | 1,371) | 1,365) | 1,639) |
Based on: 10-K (reporting date: 2024-12-31), 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).
PP&E depreciation and software amortization
Lockheed Martin Corp., pp&e depreciation and software amortization by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 452) | 416) | 383) | 348) | 348) |
| Missiles and Fire Control (MFC) | 183) | 175) | 160) | 153) | 136) |
| Rotary and Mission Systems (RMS) | 227) | 220) | 245) | 250) | 244) |
| Space | 270) | 221) | 201) | 205) | 182) |
| Total | 1,132) | 1,032) | 989) | 956) | 910) |
Based on: 10-K (reporting date: 2024-12-31), 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).
Assets
Lockheed Martin Corp., assets by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Aeronautics | 13,223) | 13,167) | 12,055) | 10,756) | 9,903) |
| Missiles and Fire Control (MFC) | 5,952) | 5,703) | 5,788) | 5,243) | 4,966) |
| Rotary and Mission Systems (RMS) | 17,025) | 17,521) | 17,988) | 17,664) | 18,035) |
| Space | 7,388) | 6,560) | 6,351) | 6,199) | 6,451) |
| Total | 43,588) | 42,951) | 42,182) | 39,862) | 39,355) |
Based on: 10-K (reporting date: 2024-12-31), 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).