Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Lockheed Martin Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 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).
- Revenue Trends
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The revenue from products exhibited fluctuations across the quarters analyzed. Initially, there was a progressive increase reaching a peak at the end of 2020, followed by a decline in early 2022, and then recovery through 2023 and 2024, with the highest reported values nearing the end of 2023. Service-related revenue remained relatively stable with modest growth over the period, showing slight dips intermittently but generally trending upwards by the end of the time frame.
Total sales mirrored the combined movement of products and services, with growth noticeable up to late 2021, a decline during early 2022, and a recovery phase persisting through 2023 and into 2024.
- Operating Costs and Gross Profit
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Operating costs followed a generally increasing trend consistent with rising sales figures, albeit with some volatility. Costs peaked notably in late 2024 and early 2025. Gross profit displayed a wave-like pattern corresponding with sales and cost fluctuations. It demonstrated growth peaks concurrently with higher sales volumes, then experienced significant dips, most notably a pronounced decline in early 2025 before rebounding.
- Profitability and Operating Performance
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Operating profit mirrored gross profit trends, showing growth in quarters with rising sales, followed by contractions aligned with sales and cost movement. The operating margin appeared strained during periods of increased operating expenses, especially late in the timeline.
Interest expense displayed a gradual increase over time, potentially exerting pressure on net earnings. Other operating and non-operating incomes and expenses contributed variably, with some quarters showing significant income fluctuations, indicating irregular gains or losses that affected bottom-line results.
- Earnings Analysis
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Earnings from continuing operations before income taxes showed strong performance early on, but experienced considerable volatility with sharp declines in certain quarters, notably mid-2021 and throughout parts of 2024. Income tax expenses generally correlated with pre-tax earnings but varied in magnitude, at times reducing net earnings substantially.
Net earnings from continuing operations followed a similar trend, revealing susceptibility to operational variability and tax burden effects. Noteworthy were quarters with markedly reduced earnings, indicating challenges perhaps driven by external factors or operational inefficiencies.
There was a recorded net loss from discontinued operations in a limited number of periods, impacting overall net earnings for those quarters. Overall net earnings fluctuated in line with net earnings from continuing operations, reflecting the dominant impact of ongoing activities.
- Other Key Observations
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Impairment and other charges appeared sporadically, with negative impacts in specific quarters, suggesting occasional asset write-downs or other unusual expenses. Other unallocated net amounts fluctuated but did not exhibit a clear trend, indicating miscellaneous impacts on operational results.
Pension-related income and expenses were irregular, with notable negative swings indicative of actuarial or funding adjustments, which may have influenced reported earnings during those intervals.