Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

$24.99

Analysis of Reportable Segments

Microsoft Excel

Paying users area


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Segment Profit Margin

Lockheed Martin Corp., profit margin by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space

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).

Segment profitability ratio Reportable segment The company
Segment profit margin Aeronautics Aeronautics segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Space Space segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Profit Margin: Aeronautics

Lockheed Martin Corp.; Aeronautics; segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Net sales
Segment Profitability Ratio
Segment profit margin1

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).

1 2023 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Aeronautics Aeronautics segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment Profit Margin: Missiles and Fire Control (MFC)

Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Net sales
Segment Profitability Ratio
Segment profit margin1

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).

1 2023 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Segment Profit Margin: Rotary and Mission Systems (RMS)

Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Net sales
Segment Profitability Ratio
Segment profit margin1

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).

1 2023 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Profit Margin: Space

Lockheed Martin Corp.; Space; segment profit margin calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Net sales
Segment Profitability Ratio
Segment profit margin1

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).

1 2023 Calculation
Segment profit margin = 100 × Operating profit ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Space Space segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Return on Assets (Segment ROA)

Lockheed Martin Corp., ROA by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space

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).

Segment profitability ratio Reportable segment The company
Segment ROA Aeronautics Aeronautics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.
Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.
Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Space Space segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment ROA: Aeronautics

Lockheed Martin Corp.; Aeronautics; segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Assets
Segment Profitability Ratio
Segment ROA1

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).

1 2023 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Aeronautics Aeronautics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment ROA: Missiles and Fire Control (MFC)

Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Assets
Segment Profitability Ratio
Segment ROA1

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).

1 2023 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment ROA: Rotary and Mission Systems (RMS)

Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Assets
Segment Profitability Ratio
Segment ROA1

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).

1 2023 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment ROA: Space

Lockheed Martin Corp.; Space; segment ROA calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating profit
Assets
Segment Profitability Ratio
Segment ROA1

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).

1 2023 Calculation
Segment ROA = 100 × Operating profit ÷ Assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Space Space segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Asset Turnover

Lockheed Martin Corp., asset turnover by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space

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).

Segment activity ratio Reportable segment The company
Segment asset turnover Aeronautics Aeronautics segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Space Space segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Asset Turnover: Aeronautics

Lockheed Martin Corp.; Aeronautics; segment asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales
Assets
Segment Activity Ratio
Segment asset turnover1

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).

1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Aeronautics Aeronautics segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Segment Asset Turnover: Missiles and Fire Control (MFC)

Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales
Assets
Segment Activity Ratio
Segment asset turnover1

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).

1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Asset Turnover: Rotary and Mission Systems (RMS)

Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales
Assets
Segment Activity Ratio
Segment asset turnover1

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).

1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Segment Asset Turnover: Space

Lockheed Martin Corp.; Space; segment asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales
Assets
Segment Activity Ratio
Segment asset turnover1

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).

1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Space Space segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Segment Capital Expenditures to Depreciation

Lockheed Martin Corp., capital expenditures to depreciation by reportable segment

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space

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).

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Aeronautics Aeronautics segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Missiles and Fire Control (MFC) Missiles and Fire Control (MFC) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Rotary and Mission Systems (RMS) Rotary and Mission Systems (RMS) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Space Space segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Aeronautics

Lockheed Martin Corp.; Aeronautics; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Capital expenditures
PP&E depreciation and software amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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).

1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Aeronautics Aeronautics segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Missiles and Fire Control (MFC)

Lockheed Martin Corp.; Missiles and Fire Control (MFC); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Capital expenditures
PP&E depreciation and software amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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).

1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= ÷ =

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 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Rotary and Mission Systems (RMS)

Lockheed Martin Corp.; Rotary and Mission Systems (RMS); segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Capital expenditures
PP&E depreciation and software amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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).

1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= ÷ =

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 2021 to 2022 and from 2022 to 2023.

Segment Capital Expenditures to Depreciation: Space

Lockheed Martin Corp.; Space; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Capital expenditures
PP&E depreciation and software amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

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).

1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ PP&E depreciation and software amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Space Space segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023.

Net sales

Lockheed Martin Corp., net sales by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space
Intersegment sales
Total

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).


Operating profit

Lockheed Martin Corp., operating profit by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space
Total

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).


Capital expenditures

Lockheed Martin Corp., capital expenditures by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space
Total

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).


PP&E depreciation and software amortization

Lockheed Martin Corp., pp&e depreciation and software amortization by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space
Total

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).


Assets

Lockheed Martin Corp., assets by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Aeronautics
Missiles and Fire Control (MFC)
Rotary and Mission Systems (RMS)
Space
Total

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).