Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Lockheed Martin Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
Dec 31, 2024 = ÷
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

Net Sales
Net sales exhibited a consistent upward trend from 2005 through 2024. Starting at $37,213 million in 2005, sales increased steadily, reaching $67,043 million in 2024. Notably, there were minor fluctuations around 2013 and 2014, where sales showed slight decreases and stagnation, but the overall direction remained positive. The most significant growth periods occurred between 2017 and 2021, where net sales rose from $51,048 million to $67,044 million, indicating an accelerating revenue generation during these years.
Total Assets
Total assets showed a moderate increase over the same period, starting at $27,744 million in 2005 and reaching $55,617 million in 2024, more than doubling over this timeframe. There was noticeable asset growth in 2010 to 2011, and again a sharp increase in 2014 to 2015, where total assets jumped from $37,073 million to $49,128 million. However, assets followed a declining trend from 2013 to 2018 before resuming growth, indicating periods of asset optimization or divestment followed by new investments or acquisitions.
Total Asset Turnover
The total asset turnover ratio showed variability but generally hovered above 1.0, reflecting efficient asset utilization to generate sales. Early years (2005–2007) recorded peak turnover above 1.34, followed by a decline, reaching a low point between 2013 and 2015 with ratios under 1.0, suggesting a period of less efficient asset use. Post-2015, the ratio improved, peaking at 1.32 in 2021 before slightly declining again in subsequent years. This trend suggests management efforts to enhance asset efficiency after mid-decade challenges.
Overall Insights
The data indicates a company that steadily expanded its revenue base while managing growth in asset levels, albeit with periods of volatility and adjustments. Asset investments appear to have strategically increased in certain periods, potentially reflecting acquisitions or capital expenditures, particularly around 2014-2015. The fluctuating asset turnover ratio highlights periods where asset efficiency faced challenges, later improving through corrective management actions. The overall positive trend in net sales alongside controlled asset growth and improving turnover suggests an effective balancing of growth and operational efficiency over the years analyzed.

Comparison to Competitors

Lockheed Martin Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Lockheed Martin Corp. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. RTX Corp.
Dec 31, 2024
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Capital Goods)

Lockheed Martin Corp., total asset turnover, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Lockheed Martin Corp. Capital Goods
Dec 31, 2024
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

Lockheed Martin Corp., total asset turnover, long-term trends, comparison to industry (industrials)

Microsoft Excel
Lockheed Martin Corp. Industrials
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).