Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Common-Size Income Statement
Quarterly Data

Beginner level

Lockheed Martin Corp., common-size consolidated income statement (quarterly data)

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3 months ended: Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 24, 2018 Mar 25, 2018 Dec 31, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 31, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Products 83.67 84.12 84.09 83.90 83.20 83.50 84.48 83.24 83.22 83.90 86.13 86.25 85.36 86.04 85.34 87.11 84.78 84.41 77.90 76.87 78.65 77.67
Services 16.33 15.88 15.91 16.10 16.80 16.50 15.52 16.76 16.78 16.10 13.87 13.75 14.64 13.96 14.66 12.89 15.22 15.59 22.10 23.13 21.35 22.33
Net sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Products -74.55 -75.02 -75.27 -74.74 -73.99 -74.11 -75.65 -74.74 -74.59 -74.75 -78.16 -77.91 -76.87 -78.57 -78.74 -78.15 -76.64 -76.07 -70.33 -68.66 -69.59 -68.75
Services -14.42 -14.14 -14.35 -14.57 -15.21 -14.28 -13.96 -14.46 -14.68 -14.52 -12.27 -12.43 -13.07 -12.44 -12.50 -11.37 -13.57 -13.86 -19.49 -20.29 -19.03 -19.30
Severance and restructuring charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.77 -0.52 -0.31 0.00 0.00
Other unallocated, net 2.61 2.52 2.99 2.91 3.01 3.66 3.09 2.61 3.07 3.52 1.13 1.45 1.17 1.44 1.08 1.50 0.84 1.26 0.48 0.22 0.40 0.53
Cost of sales -86.36% -86.64% -86.63% -86.40% -86.19% -84.74% -86.52% -86.58% -86.92% -85.75% -89.30% -88.90% -88.77% -89.57% -90.16% -88.02% -89.38% -89.44% -89.86% -89.04% -88.22% -87.51%
Gross profit 13.64% 13.36% 13.37% 13.60% 13.81% 15.26% 13.48% 13.42% 13.08% 14.25% 10.70% 11.10% 11.23% 10.43% 9.84% 11.98% 10.62% 10.56% 10.14% 10.96% 11.78% 12.49%
Other income (expense), net -0.78 0.20 0.16 0.28 0.10 0.66 -0.63 0.29 0.31 0.58 1.59 0.63 0.47 -0.04 0.55 1.77 1.25 0.61 -0.22 0.86 0.64 0.92
Operating profit 12.86% 13.56% 13.53% 13.88% 13.92% 15.92% 12.84% 13.71% 13.40% 14.83% 12.28% 11.73% 11.71% 10.39% 10.38% 13.75% 11.88% 11.17% 9.92% 11.81% 12.41% 13.41%
Interest expense -0.92 -0.95 -0.99 -1.07 -1.13 -1.19 -1.19 -1.24 -1.23 -1.33 -1.15 -1.33 -1.26 -1.40 -1.24 -1.40 -1.43 -1.59 -1.10 -0.91 -0.89 -0.92
Other non-operating income (expense), net 0.15 0.36 -1.01 -1.07 -1.12 -1.16 -1.37 -1.47 -1.57 -1.80 0.05 -0.06 -0.02 0.01 -0.01 0.01 0.00 0.01 0.19 0.01 0.02 0.03
Earnings from continuing operations before income taxes 12.10% 12.97% 11.54% 11.74% 11.67% 13.57% 10.29% 11.00% 10.60% 11.69% 11.18% 10.35% 10.43% 9.00% 9.13% 12.35% 10.45% 9.59% 9.00% 10.92% 11.53% 12.52%
Income tax expense -2.07 -2.00 -2.10 -1.14 -1.82 -1.68 -1.60 -0.71 -1.92 -1.74 -15.90 -2.63 -3.00 -2.10 -2.15 -2.93 -2.69 -1.81 -1.78 -3.37 -3.56 -3.84
Net earnings from continuing operations 10.02% 10.97% 9.43% 10.60% 9.84% 11.89% 8.69% 10.29% 8.68% 9.94% -4.72% 7.72% 7.43% 6.90% 6.97% 9.43% 7.77% 7.77% 7.22% 7.55% 7.98% 8.68%
Net earnings from discontinued operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.48 0.00 0.00 0.00 0.21 11.31 1.05 0.89 0.00 0.00 0.00 0.00
Net earnings 10.02% 10.97% 9.43% 10.60% 9.84% 11.89% 8.69% 10.29% 8.68% 9.94% -4.24% 7.72% 7.43% 6.90% 7.18% 20.73% 8.82% 8.66% 7.22% 7.55% 7.98% 8.68%

Based on: 10-Q (filing date: 2020-07-21), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-23), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-24), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-06), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Lockheed Martin Corp.’s operating profit as a percentage of net sales increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
Earnings from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lockheed Martin Corp.’s earnings from continuing operations before income taxes as a percentage of net sales increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lockheed Martin Corp.’s net earnings as a percentage of net sales increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.