Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Lockheed Martin Corp. pages available for free this week:
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Lockheed Martin Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Lockheed Martin Corp., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-30), 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).
- Sales Composition
- Over the periods analyzed, products consistently represented the majority share of sales, ranging mostly around 82% to 85%, with slight fluctuations but no clear upward or downward long-term trend. Services accounted for the remaining portion, fluctuating approximately between 14% and 17%. Sales composition remained relatively stable, indicating a consistent business focus on products with services as a smaller adjacent component.
- Cost Structure
- Operating costs and expenses as a percentage of sales fluctuated slightly but generally remained high, between approximately 85.6% and 96.3%. Notable spikes in operating costs were observed towards the end of the series, particularly in the December 2024 period where expenses surged dramatically to over 96% of sales, suggesting a temporary cost pressure or significant expense event. Impairment and severance charges appeared sporadically and had a small negative impact on sales percentages in several quarters, indicative of occasional restructuring or asset write-downs.
- Profitability Measures
- Gross profit percentages hovered mostly in the range of 11.5% to 14.4%, reflecting moderate profit margins. Operating profit followed a similar pattern, peaking above 14% in several quarters but generally close to 12% to 13%. There was a sharp dip in operating and gross profit margins in the December 2024 period, coinciding with the spike in operating costs, which significantly impacted profitability temporarily before rebounding. Earnings from continuing operations before taxes showed variability, with several quarters reporting values exceeding 13% but also some notably low points around 2% to 4%, evidencing profit volatility within certain periods.
- Expense Trends
- Interest expense as a percentage of sales exhibited a gradually increasing trend over time, moving from approximately 0.9% in early periods to near 1.5% towards the latest quarters. This may indicate growing debt levels or higher borrowing costs. Non-service FAS pension income showed irregular values, including some significant negative outliers associated with the pension adjustments, affecting some periods' earnings unpredictably. Other income and net non-operating incomes fluctuated but remained relatively minor contributors to overall profitability.
- Taxation and Net Earnings
- Income tax expense expressed as a percentage of sales demonstrated variability, with rates mostly between -1.5% and -2.5%, but spiking to near zero or even positive values in some quarters, likely due to special tax adjustments or timing differences. Net earnings from continuing operations were generally stable in the range of approximately 9% to 11%, with occasional dips aligned with the troughs in operating profit. The presence of net loss from discontinued operations was minimal with only isolated minor instances, having negligible effect on overall net earnings.
- Overall Insights
- The data indicates a consistent business model focused heavily on product sales with services as a sizable secondary component. Profit margins and operating profitability exhibited moderate variability with a generally stable trend, except for a pronounced cost and profitability disruption in late 2024. Interest expenses have shown a gradual increase, suggesting attention to capital structure may be warranted. Inconsistencies in pension-related accounting also introduced some earnings volatility. Despite fluctuations, net earnings margins remained relatively strong across the majority of periods.