Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Lockheed Martin Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Turnover Ratios
Inventory turnover 18.46 19.41 20.21 18.67 18.87 17.88 16.82 16.63 18.68 18.09 16.20 18.12 19.45 19.81 18.64 17.58 16.01
Receivables turnover 30.22 33.30 24.26 30.86 31.69 28.14 19.67 25.61 26.34 26.06 18.87 26.02 34.15 29.27 25.59 29.81 33.06
Payables turnover 28.85 19.48 19.07 17.38 25.56 15.51 16.97 17.65 27.25 21.48 24.07 21.92 74.34 37.83 36.15 30.31 64.48
Working capital turnover 29.25 13.20 15.88 13.24 18.85 11.04 10.56 12.81 12.93 14.03 14.28 15.14 11.52 10.48 12.30 11.93 12.01
Average No. Days
Average inventory processing period 20 19 18 20 19 20 22 22 20 20 23 20 19 18 20 21 23
Add: Average receivable collection period 12 11 15 12 12 13 19 14 14 14 19 14 11 12 14 12 11
Operating cycle 32 30 33 32 31 33 41 36 34 34 42 34 30 30 34 33 34
Less: Average payables payment period 13 19 19 21 14 24 22 21 13 17 15 17 5 10 10 12 6
Cash conversion cycle 19 11 14 11 17 9 19 15 21 17 27 17 25 20 24 21 28

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Lockheed Martin Corp. inventory turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Lockheed Martin Corp. receivables turnover ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Lockheed Martin Corp. payables turnover ratio increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Lockheed Martin Corp. working capital turnover ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Lockheed Martin Corp. number of days of inventory outstanding deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Lockheed Martin Corp. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Lockheed Martin Corp. operating cycle improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Lockheed Martin Corp. cash conversion cycle improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.

Inventory Turnover

Lockheed Martin Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data (US$ in millions)
Cost of sales 17,932 14,987 15,992 15,202 16,579 14,830 14,603 13,080 16,689 14,463 13,490 13,055 15,307 13,726 14,878 14,072 14,818 14,359 14,007 13,560
Inventories 3,474 3,234 3,097 3,278 3,132 3,312 3,498 3,471 3,088 3,113 3,431 3,144 2,981 2,903 3,119 3,256 3,545 3,293 3,521 3,539
Short-term Activity Ratio
Inventory turnover1 18.46 19.41 20.21 18.67 18.87 17.88 16.82 16.63 18.68 18.09 16.20 18.12 19.45 19.81 18.64 17.58 16.01
Benchmarks
Inventory Turnover, Competitors2
Boeing Co. 0.78 0.85 0.78 0.82 0.88 0.87 0.88 0.83 0.81 0.78 0.74 0.74 0.75 0.77 0.76 0.74 0.78
Caterpillar Inc. 2.39 2.36 2.42 2.50 2.58 2.47 2.42 2.38 2.54 2.36 2.40 2.46 2.53 2.44 2.49 2.46 2.55
Eaton Corp. plc 3.64 3.66 3.81 3.85 3.95 3.93 3.93 3.94 4.04 3.95 3.87 4.03 4.48 4.73 4.86 5.12 5.88
GE Aerospace 2.49 3.89 4.70 2.91 3.05 3.02 3.15 3.32 3.19 3.10 3.04 3.25 3.40 3.21 3.28 3.46 3.80
Honeywell International Inc. 3.70 3.73 3.69 3.65 3.72 3.76 3.82 3.90 4.04 4.09 4.06 4.20 4.55 4.72 4.88 4.85 4.94
RTX Corp. 5.12 4.74 4.64 4.76 4.83 4.60 4.68 4.81 5.03 5.03 5.14 5.33 5.65 5.57 5.49 5.48 5.11

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Inventory turnover = (Cost of salesQ4 2024 + Cost of salesQ3 2024 + Cost of salesQ2 2024 + Cost of salesQ1 2024) ÷ Inventories
= (17,932 + 14,987 + 15,992 + 15,202) ÷ 3,474 = 18.46

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Lockheed Martin Corp. inventory turnover ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Receivables Turnover

Lockheed Martin Corp., receivables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data (US$ in millions)
Net sales 18,622 17,104 18,122 17,195 18,874 16,878 16,693 15,126 18,991 16,583 15,446 14,964 17,729 16,028 17,029 16,258 17,032 16,495 16,220 15,651
Receivables, net 2,351 2,141 2,930 2,257 2,132 2,405 3,427 2,583 2,505 2,484 3,401 2,527 1,963 2,267 2,611 2,214 1,978 2,480 2,835 2,892
Short-term Activity Ratio
Receivables turnover1 30.22 33.30 24.26 30.86 31.69 28.14 19.67 25.61 26.34 26.06 18.87 26.02 34.15 29.27 25.59 29.81 33.06
Benchmarks
Receivables Turnover, Competitors2
Boeing Co. 25.28 25.33 23.31 25.83 29.37 24.99 24.99 24.65 26.46 22.98 20.27 25.37 23.58 27.95 24.76 23.97 29.75
Caterpillar Inc. 6.61 6.85 6.69 6.86 6.86 6.95 6.56 6.37 6.39 6.59 6.10 5.46 5.68 5.97 5.51 5.07 5.33
Eaton Corp. plc 5.39 5.04 4.97 5.06 5.18 5.07 5.01 5.05 5.09 5.28 5.15 5.39 5.95 5.75 5.72 5.79 6.15
GE Aerospace 3.77 5.69 6.98 4.37 4.17 4.61 4.67 5.00 4.09 4.19 4.39 4.43 4.55 4.83 4.74 4.59 4.37
Honeywell International Inc. 4.92 4.80 4.81 4.94 4.87 4.65 4.52 4.57 4.77 4.74 4.45 4.82 5.04 4.78 4.89 4.89 4.78
RTX Corp. 7.36 7.83 7.06 6.91 6.36 6.67 7.13 6.81 7.36 7.15 6.28 7.15 6.66 6.69 6.99 6.03 6.11

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Receivables turnover = (Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024) ÷ Receivables, net
= (18,622 + 17,104 + 18,122 + 17,195) ÷ 2,351 = 30.22

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Lockheed Martin Corp. receivables turnover ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Payables Turnover

Lockheed Martin Corp., payables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data (US$ in millions)
Cost of sales 17,932 14,987 15,992 15,202 16,579 14,830 14,603 13,080 16,689 14,463 13,490 13,055 15,307 13,726 14,878 14,072 14,818 14,359 14,007 13,560
Accounts payable 2,222 3,221 3,282 3,523 2,312 3,817 3,466 3,271 2,117 2,622 2,309 2,599 780 1,520 1,608 1,889 880 1,491 1,453 3,166
Short-term Activity Ratio
Payables turnover1 28.85 19.48 19.07 17.38 25.56 15.51 16.97 17.65 27.25 21.48 24.07 21.92 74.34 37.83 36.15 30.31 64.48
Benchmarks
Payables Turnover, Competitors2
Boeing Co. 6.03 5.79 5.61 5.92 5.86 6.18 6.28 6.37 6.18 6.36 6.17 6.73 6.40 6.20 5.45 4.90 4.94
Caterpillar Inc. 5.24 5.31 5.47 5.44 5.41 5.54 5.09 4.68 4.76 4.81 4.72 4.43 4.36 4.61 4.57 4.46 4.75
Eaton Corp. plc 4.18 4.24 4.31 4.38 4.39 4.48 4.52 4.55 4.51 4.61 4.43 4.67 4.75 5.11 5.22 5.66 6.24
GE Aerospace 3.07 4.83 5.77 3.38 3.27 3.26 3.41 3.57 2.98 3.14 3.14 3.32 3.32 3.33 3.35 3.56 3.67
Honeywell International Inc. 3.46 3.56 3.60 3.57 3.36 3.51 3.49 3.50 3.53 3.68 3.63 3.66 3.61 3.83 3.76 3.86 3.86
RTX Corp. 5.07 5.40 5.54 5.60 5.31 5.37 5.54 5.42 5.40 5.82 5.36 6.28 5.93 6.06 6.52 5.67 5.56

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Payables turnover = (Cost of salesQ4 2024 + Cost of salesQ3 2024 + Cost of salesQ2 2024 + Cost of salesQ1 2024) ÷ Accounts payable
= (17,932 + 14,987 + 15,992 + 15,202) ÷ 2,222 = 28.85

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Lockheed Martin Corp. payables turnover ratio increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Working Capital Turnover

Lockheed Martin Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data (US$ in millions)
Current assets 21,849 23,211 22,967 22,958 20,521 23,322 24,087 22,144 20,991 20,960 20,973 20,390 19,815 21,357 20,674 20,252 19,378 20,290 19,570 19,222
Less: Current liabilities 19,420 17,810 18,493 17,699 16,937 17,193 17,704 16,982 15,887 16,347 16,479 16,047 13,997 15,026 15,242 14,717 13,933 15,201 14,888 15,652
Working capital 2,429 5,401 4,474 5,259 3,584 6,129 6,383 5,162 5,104 4,613 4,494 4,343 5,818 6,331 5,432 5,535 5,445 5,089 4,682 3,570
 
Net sales 18,622 17,104 18,122 17,195 18,874 16,878 16,693 15,126 18,991 16,583 15,446 14,964 17,729 16,028 17,029 16,258 17,032 16,495 16,220 15,651
Short-term Activity Ratio
Working capital turnover1 29.25 13.20 15.88 13.24 18.85 11.04 10.56 12.81 12.93 14.03 14.28 15.14 11.52 10.48 12.30 11.93 12.01
Benchmarks
Working Capital Turnover, Competitors2
Boeing Co. 2.15 6.04 4.13 5.76 5.78 5.46 4.80 4.61 3.42 3.13 2.87 2.51 2.34 2.02 2.00 1.88 1.69
Caterpillar Inc. 4.58 4.89 6.61 5.64 5.23 4.27 5.29 4.25 4.62 4.35 3.93 3.83 3.54 2.87 2.80 2.52 2.84
Eaton Corp. plc 6.31 5.84 5.33 5.58 5.91 6.61 6.16 7.01 8.70 10.69 65.65 12.41 21.65 5.34 5.42
GE Aerospace 10.83 11.16 12.69 7.77 7.24 8.11 5.70 5.87 7.93 13.29 10.55 7.14 4.94 1.57 1.57 1.27 2.26
Honeywell International Inc. 5.79 4.39 8.63 3.37 7.39 5.98 5.16 7.79 7.03 7.91 8.84 8.07 5.86 5.94 4.52 4.27 3.64
RTX Corp. 23.64 41.62 44.25 16.99 12.76 20.15 19.15 17.77 11.41 9.75 8.11 10.24 9.77 7.52

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Working capital turnover = (Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024) ÷ Working capital
= (18,622 + 17,104 + 18,122 + 17,195) ÷ 2,429 = 29.25

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Lockheed Martin Corp. working capital turnover ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Average Inventory Processing Period

Lockheed Martin Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data
Inventory turnover 18.46 19.41 20.21 18.67 18.87 17.88 16.82 16.63 18.68 18.09 16.20 18.12 19.45 19.81 18.64 17.58 16.01
Short-term Activity Ratio (no. days)
Average inventory processing period1 20 19 18 20 19 20 22 22 20 20 23 20 19 18 20 21 23
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Boeing Co. 466 428 470 443 415 419 416 438 452 468 494 493 486 475 478 496 467
Caterpillar Inc. 153 155 151 146 141 148 151 154 144 155 152 148 144 150 146 149 143
Eaton Corp. plc 100 100 96 95 92 93 93 93 90 92 94 90 82 77 75 71 62
GE Aerospace 147 94 78 125 120 121 116 110 114 118 120 112 107 114 111 105 96
Honeywell International Inc. 99 98 99 100 98 97 96 94 90 89 90 87 80 77 75 75 74
RTX Corp. 71 77 79 77 76 79 78 76 73 73 71 69 65 65 66 67 71

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 18.46 = 20

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Lockheed Martin Corp. number of days of inventory outstanding deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Average Receivable Collection Period

Lockheed Martin Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data
Receivables turnover 30.22 33.30 24.26 30.86 31.69 28.14 19.67 25.61 26.34 26.06 18.87 26.02 34.15 29.27 25.59 29.81 33.06
Short-term Activity Ratio (no. days)
Average receivable collection period1 12 11 15 12 12 13 19 14 14 14 19 14 11 12 14 12 11
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Boeing Co. 14 14 16 14 12 15 15 15 14 16 18 14 15 13 15 15 12
Caterpillar Inc. 55 53 55 53 53 53 56 57 57 55 60 67 64 61 66 72 68
Eaton Corp. plc 68 72 73 72 70 72 73 72 72 69 71 68 61 63 64 63 59
GE Aerospace 97 64 52 83 87 79 78 73 89 87 83 82 80 76 77 80 83
Honeywell International Inc. 74 76 76 74 75 79 81 80 77 77 82 76 72 76 75 75 76
RTX Corp. 50 47 52 53 57 55 51 54 50 51 58 51 55 55 52 61 60

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 30.22 = 12

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Lockheed Martin Corp. number of days of receivables outstanding improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Operating Cycle

Lockheed Martin Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data
Average inventory processing period 20 19 18 20 19 20 22 22 20 20 23 20 19 18 20 21 23
Average receivable collection period 12 11 15 12 12 13 19 14 14 14 19 14 11 12 14 12 11
Short-term Activity Ratio
Operating cycle1 32 30 33 32 31 33 41 36 34 34 42 34 30 30 34 33 34
Benchmarks
Operating Cycle, Competitors2
Boeing Co. 480 442 486 457 427 434 431 453 466 484 512 507 501 488 493 511 479
Caterpillar Inc. 208 208 206 199 194 201 207 211 201 210 212 215 208 211 212 221 211
Eaton Corp. plc 168 172 169 167 162 165 166 165 162 161 165 158 143 140 139 134 121
GE Aerospace 244 158 130 208 207 200 194 183 203 205 203 194 187 190 188 185 179
Honeywell International Inc. 173 174 175 174 173 176 177 174 167 166 172 163 152 153 150 150 150
RTX Corp. 121 124 131 130 133 134 129 130 123 124 129 120 120 120 118 128 131

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 20 + 12 = 32

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Lockheed Martin Corp. operating cycle improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024 not reaching Q2 2024 level.

Average Payables Payment Period

Lockheed Martin Corp., average payables payment period calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data
Payables turnover 28.85 19.48 19.07 17.38 25.56 15.51 16.97 17.65 27.25 21.48 24.07 21.92 74.34 37.83 36.15 30.31 64.48
Short-term Activity Ratio (no. days)
Average payables payment period1 13 19 19 21 14 24 22 21 13 17 15 17 5 10 10 12 6
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Boeing Co. 61 63 65 62 62 59 58 57 59 57 59 54 57 59 67 74 74
Caterpillar Inc. 70 69 67 67 67 66 72 78 77 76 77 82 84 79 80 82 77
Eaton Corp. plc 87 86 85 83 83 82 81 80 81 79 82 78 77 71 70 65 58
GE Aerospace 119 76 63 108 112 112 107 102 123 116 116 110 110 109 109 103 100
Honeywell International Inc. 105 103 101 102 109 104 105 104 103 99 101 100 101 95 97 95 95
RTX Corp. 72 68 66 65 69 68 66 67 68 63 68 58 62 60 56 64 66

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 28.85 = 13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Lockheed Martin Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 31, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 31, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020
Selected Financial Data
Average inventory processing period 20 19 18 20 19 20 22 22 20 20 23 20 19 18 20 21 23
Average receivable collection period 12 11 15 12 12 13 19 14 14 14 19 14 11 12 14 12 11
Average payables payment period 13 19 19 21 14 24 22 21 13 17 15 17 5 10 10 12 6
Short-term Activity Ratio
Cash conversion cycle1 19 11 14 11 17 9 19 15 21 17 27 17 25 20 24 21 28
Benchmarks
Cash Conversion Cycle, Competitors2
Boeing Co. 419 379 421 395 365 375 373 396 407 427 453 453 444 429 426 437 405
Caterpillar Inc. 138 139 139 132 127 135 135 133 124 134 135 133 124 132 132 139 134
Eaton Corp. plc 81 86 84 84 79 83 85 85 81 82 83 80 66 69 69 69 63
GE Aerospace 125 82 67 100 95 88 87 81 80 89 87 84 77 81 79 82 79
Honeywell International Inc. 68 71 74 72 64 72 72 70 64 67 71 63 51 58 53 55 55
RTX Corp. 49 56 65 65 64 66 63 63 55 61 61 62 58 60 62 64 65

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).

1 Q4 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 20 + 1213 = 19

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Lockheed Martin Corp. cash conversion cycle improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.