Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Common-Size Income Statement 

Lockheed Martin Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Products 83.44 83.27 84.06 84.18 83.99
Services 16.56 16.73 15.94 15.82 16.01
Net sales 100.00% 100.00% 100.00% 100.00% 100.00%
Products -77.21 -74.30 -75.13 -74.99 -74.92
Services -14.38 -14.84 -14.06 -14.11 -14.33
Impairment and severance charges -0.12 -0.14 -0.15 -0.05 -0.04
Other unallocated, net 1.47 1.82 1.91 2.67 2.52
Cost of sales -90.25% -87.45% -87.44% -86.48% -86.77%
Gross profit 9.75% 12.55% 12.56% 13.52% 13.23%
Other income (expense), net 0.12 0.04 0.09 0.09 -0.02
Operating profit 9.87% 12.59% 12.65% 13.61% 13.22%
Interest expense -1.46 -1.36 -0.94 -0.85 -0.90
Non-service FAS pension income (expense) 0.09 0.66 -1.47 -1.93 0.33
Other non-operating income (expense), net 0.25 0.09 -0.11 0.43 -0.06
Earnings from continuing operations before income taxes 8.76% 11.98% 10.12% 11.26% 12.59%
Income tax expense -1.24 -1.74 -1.44 -1.84 -2.06
Net earnings from continuing operations 7.51% 10.24% 8.69% 9.42% 10.53%
Net loss from discontinued operations 0.00 0.00 0.00 0.00 -0.08
Net earnings 7.51% 10.24% 8.69% 9.42% 10.45%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Lockheed Martin Corp. operating profit as a percentage of net sales decreased from 2022 to 2023 and from 2023 to 2024.
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. earnings from continuing operations before income taxes as a percentage of net sales increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lockheed Martin Corp. net earnings as a percentage of net sales increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.