Lockheed Martin Corp., current enterprise value calculation

Current share price (P)	$436.29
No. shares of common stock outstanding	235,385,902
US$ in millions
Common equity (market value)¹	102,697)
Add: Noncontrolling interests in subsidiary (per books)	—)
Total equity	102,697)
Add: Current maturities of long-term debt (per books)	643)
Add: Long-term debt, net, excluding current portion (per books)	19,627)
Total equity and debt	122,967)
Less: Cash and cash equivalents	2,483)
Enterprise value (EV)	120,484)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 436.29 × 235,385,902

Lockheed Martin Corp., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$457.45	$439.67	$459.81	$387.17	$327.93
No. shares of common stock outstanding¹	235,385,902	241,643,304	255,297,298	272,326,925	280,103,431
US$ in millions
Common equity (market value)³	107,677)	106,243)	117,388)	105,437)	91,854)
Add: Noncontrolling interests in subsidiary (book value)	—)	—)	—)	—)	23)
Total equity	107,677)	106,243)	117,388)	105,437)	91,877)
Add: Current maturities of long-term debt (book value)	643)	168)	118)	6)	500)
Add: Long-term debt, net, excluding current portion (book value)	19,627)	17,291)	15,429)	11,670)	11,669)
Total equity and debt	127,947)	123,702)	132,935)	117,113)	104,046)
Less: Cash and cash equivalents	2,483)	1,442)	2,547)	3,604)	3,160)
Enterprise value (EV)	125,464)	122,260)	130,388)	113,509)	100,886)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Lockheed Martin Corp. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 457.45 × 235,385,902

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Lockheed Martin Corp. EV decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Lockheed Martin Corp. (NYSE:LMT)

Enterprise Value (EV)