Lockheed Martin Corp., current enterprise value calculation

Current share price (P)	$533.26
No. shares of common stock outstanding	237,035,273
US$ in millions
Common equity (market value)¹	126,401)
Add: Noncontrolling interests in subsidiary (per books)	—)
Total equity	126,401)
Add: Current portion of long-term debt (per books)	168)
Add: Long-term debt, net, excluding current portion (per books)	17,291)
Total equity and debt	143,860)
Less: Cash and cash equivalents	1,442)
Enterprise value (EV)	142,418)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 533.26 × 237,035,273

Lockheed Martin Corp., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$439.67	$459.81	$387.17	$327.93	$439.17
No. shares of common stock outstanding¹	241,643,304	255,297,298	272,326,925	280,103,431	281,937,366
US$ in millions
Common equity (market value)³	106,243)	117,388)	105,437)	91,854)	123,818)
Add: Noncontrolling interests in subsidiary (book value)	—)	—)	—)	23)	44)
Total equity	106,243)	117,388)	105,437)	91,877)	123,862)
Add: Current portion of long-term debt (book value)	168)	118)	6)	500)	1,250)
Add: Long-term debt, net, excluding current portion (book value)	17,291)	15,429)	11,670)	11,669)	11,404)
Total equity and debt	123,702)	132,935)	117,113)	104,046)	136,516)
Less: Cash and cash equivalents	1,442)	2,547)	3,604)	3,160)	1,514)
Enterprise value (EV)	122,260)	130,388)	113,509)	100,886)	135,002)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 439.67 × 241,643,304

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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 increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Lockheed Martin Corp. (NYSE:LMT)

Enterprise Value (EV)