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Lockheed Martin Corp. (LMT)


DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Low level of difficulty


Two-Component Disaggregation of ROE

Lockheed Martin Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = ROA × Financial Leverage
Sep 29, 2019 hidden = hidden × hidden
Jun 30, 2019 hidden = hidden × hidden
Mar 31, 2019 hidden = hidden × hidden
Dec 31, 2018 hidden = hidden × hidden
Sep 30, 2018 hidden = hidden × hidden
Jun 24, 2018 hidden = hidden × hidden
Mar 25, 2018 hidden = hidden × hidden
Dec 31, 2017 hidden = hidden × hidden
Sep 24, 2017 hidden = hidden × hidden
Jun 25, 2017 hidden = hidden × hidden
Mar 26, 2017 hidden = hidden × hidden
Dec 31, 2016 hidden = hidden × hidden
Sep 25, 2016 hidden = hidden × hidden
Jun 26, 2016 hidden = hidden × hidden
Mar 27, 2016 hidden = hidden × hidden
Dec 31, 2015 hidden = hidden × hidden
Sep 27, 2015 hidden = hidden × hidden
Jun 28, 2015 hidden = hidden × hidden
Mar 29, 2015 hidden = hidden × hidden
Dec 31, 2014 hidden = hidden × hidden
Sep 28, 2014 hidden = hidden × hidden
Jun 29, 2014 hidden = hidden × hidden
Mar 30, 2014 hidden = hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.


Three-Component Disaggregation of ROE

Lockheed Martin Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 29, 2019 hidden = hidden × hidden × hidden
Jun 30, 2019 hidden = hidden × hidden × hidden
Mar 31, 2019 hidden = hidden × hidden × hidden
Dec 31, 2018 hidden = hidden × hidden × hidden
Sep 30, 2018 hidden = hidden × hidden × hidden
Jun 24, 2018 hidden = hidden × hidden × hidden
Mar 25, 2018 hidden = hidden × hidden × hidden
Dec 31, 2017 hidden = hidden × hidden × hidden
Sep 24, 2017 hidden = hidden × hidden × hidden
Jun 25, 2017 hidden = hidden × hidden × hidden
Mar 26, 2017 hidden = hidden × hidden × hidden
Dec 31, 2016 hidden = hidden × hidden × hidden
Sep 25, 2016 hidden = hidden × hidden × hidden
Jun 26, 2016 hidden = hidden × hidden × hidden
Mar 27, 2016 hidden = hidden × hidden × hidden
Dec 31, 2015 hidden = hidden × hidden × hidden
Sep 27, 2015 hidden = hidden × hidden × hidden
Jun 28, 2015 hidden = hidden × hidden × hidden
Mar 29, 2015 hidden = hidden × hidden × hidden
Dec 31, 2014 hidden = hidden × hidden × hidden
Sep 28, 2014 hidden = hidden × hidden × hidden
Jun 29, 2014 hidden = hidden × hidden × hidden
Mar 30, 2014 hidden = hidden × hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.


Five-Component Disaggregation of ROE

Lockheed Martin Corp., decomposition of ROE (quarterly data)

Microsoft Excel LibreOffice Calc
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 29, 2019 hidden = hidden × hidden × hidden × hidden × hidden
Jun 30, 2019 hidden = hidden × hidden × hidden × hidden × hidden
Mar 31, 2019 hidden = hidden × hidden × hidden × hidden × hidden
Dec 31, 2018 hidden = hidden × hidden × hidden × hidden × hidden
Sep 30, 2018 hidden = hidden × hidden × hidden × hidden × hidden
Jun 24, 2018 hidden = hidden × hidden × hidden × hidden × hidden
Mar 25, 2018 hidden = hidden × hidden × hidden × hidden × hidden
Dec 31, 2017 hidden = hidden × hidden × hidden × hidden × hidden
Sep 24, 2017 hidden = hidden × hidden × hidden × hidden × hidden
Jun 25, 2017 hidden = hidden × hidden × hidden × hidden × hidden
Mar 26, 2017 hidden = hidden × hidden × hidden × hidden × hidden
Dec 31, 2016 hidden = hidden × hidden × hidden × hidden × hidden
Sep 25, 2016 hidden = hidden × hidden × hidden × hidden × hidden
Jun 26, 2016 hidden = hidden × hidden × hidden × hidden × hidden
Mar 27, 2016 hidden = hidden × hidden × hidden × hidden × hidden
Dec 31, 2015 hidden = hidden × hidden × hidden × hidden × hidden
Sep 27, 2015 hidden = hidden × hidden × hidden × hidden × hidden
Jun 28, 2015 hidden = hidden × hidden × hidden × hidden × hidden
Mar 29, 2015 hidden = hidden × hidden × hidden × hidden × hidden
Dec 31, 2014 hidden = hidden × hidden × hidden × hidden × hidden
Sep 28, 2014 hidden = hidden × hidden × hidden × hidden × hidden
Jun 29, 2014 hidden = hidden × hidden × hidden × hidden × hidden
Mar 30, 2014 hidden = hidden × hidden × hidden × hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the decrease in return on equity ratio (ROE) over Q3 2019 is the decrease in financial leverage ratio.


Two-Component Disaggregation of ROA

Lockheed Martin Corp., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Net Profit Margin × Asset Turnover
Sep 29, 2019 hidden = hidden × hidden
Jun 30, 2019 hidden = hidden × hidden
Mar 31, 2019 hidden = hidden × hidden
Dec 31, 2018 hidden = hidden × hidden
Sep 30, 2018 hidden = hidden × hidden
Jun 24, 2018 hidden = hidden × hidden
Mar 25, 2018 hidden = hidden × hidden
Dec 31, 2017 hidden = hidden × hidden
Sep 24, 2017 hidden = hidden × hidden
Jun 25, 2017 hidden = hidden × hidden
Mar 26, 2017 hidden = hidden × hidden
Dec 31, 2016 hidden = hidden × hidden
Sep 25, 2016 hidden = hidden × hidden
Jun 26, 2016 hidden = hidden × hidden
Mar 27, 2016 hidden = hidden × hidden
Dec 31, 2015 hidden = hidden × hidden
Sep 27, 2015 hidden = hidden × hidden
Jun 28, 2015 hidden = hidden × hidden
Mar 29, 2015 hidden = hidden × hidden
Dec 31, 2014 hidden = hidden × hidden
Sep 28, 2014 hidden = hidden × hidden
Jun 29, 2014 hidden = hidden × hidden
Mar 30, 2014 hidden = hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the decrease in return on assets ratio (ROA) over Q3 2019 is the decrease in asset turnover ratio.


Four-Component Disaggregation of ROA

Lockheed Martin Corp., decomposition of ROA (quarterly data)

Microsoft Excel LibreOffice Calc
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 29, 2019 hidden = hidden × hidden × hidden × hidden
Jun 30, 2019 hidden = hidden × hidden × hidden × hidden
Mar 31, 2019 hidden = hidden × hidden × hidden × hidden
Dec 31, 2018 hidden = hidden × hidden × hidden × hidden
Sep 30, 2018 hidden = hidden × hidden × hidden × hidden
Jun 24, 2018 hidden = hidden × hidden × hidden × hidden
Mar 25, 2018 hidden = hidden × hidden × hidden × hidden
Dec 31, 2017 hidden = hidden × hidden × hidden × hidden
Sep 24, 2017 hidden = hidden × hidden × hidden × hidden
Jun 25, 2017 hidden = hidden × hidden × hidden × hidden
Mar 26, 2017 hidden = hidden × hidden × hidden × hidden
Dec 31, 2016 hidden = hidden × hidden × hidden × hidden
Sep 25, 2016 hidden = hidden × hidden × hidden × hidden
Jun 26, 2016 hidden = hidden × hidden × hidden × hidden
Mar 27, 2016 hidden = hidden × hidden × hidden × hidden
Dec 31, 2015 hidden = hidden × hidden × hidden × hidden
Sep 27, 2015 hidden = hidden × hidden × hidden × hidden
Jun 28, 2015 hidden = hidden × hidden × hidden × hidden
Mar 29, 2015 hidden = hidden × hidden × hidden × hidden
Dec 31, 2014 hidden = hidden × hidden × hidden × hidden
Sep 28, 2014 hidden = hidden × hidden × hidden × hidden
Jun 29, 2014 hidden = hidden × hidden × hidden × hidden
Mar 30, 2014 hidden = hidden × hidden × hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the decrease in return on assets ratio (ROA) over Q3 2019 is the decrease in efficiency measured by asset turnover ratio.


Disaggregation of Net Profit Margin

Lockheed Martin Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel LibreOffice Calc
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 29, 2019 hidden = hidden × hidden × hidden
Jun 30, 2019 hidden = hidden × hidden × hidden
Mar 31, 2019 hidden = hidden × hidden × hidden
Dec 31, 2018 hidden = hidden × hidden × hidden
Sep 30, 2018 hidden = hidden × hidden × hidden
Jun 24, 2018 hidden = hidden × hidden × hidden
Mar 25, 2018 hidden = hidden × hidden × hidden
Dec 31, 2017 hidden = hidden × hidden × hidden
Sep 24, 2017 hidden = hidden × hidden × hidden
Jun 25, 2017 hidden = hidden × hidden × hidden
Mar 26, 2017 hidden = hidden × hidden × hidden
Dec 31, 2016 hidden = hidden × hidden × hidden
Sep 25, 2016 hidden = hidden × hidden × hidden
Jun 26, 2016 hidden = hidden × hidden × hidden
Mar 27, 2016 hidden = hidden × hidden × hidden
Dec 31, 2015 hidden = hidden × hidden × hidden
Sep 27, 2015 hidden = hidden × hidden × hidden
Jun 28, 2015 hidden = hidden × hidden × hidden
Mar 29, 2015 hidden = hidden × hidden × hidden
Dec 31, 2014 hidden = hidden × hidden × hidden
Sep 28, 2014 hidden = hidden × hidden × hidden
Jun 29, 2014 hidden = hidden × hidden × hidden
Mar 30, 2014 hidden = hidden × hidden × hidden

Based on: 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), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).

The primary reason for the increase in net profit margin ratio over Q3 2019 is the increase in operating profitability measured by EBIT margin ratio.