Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Lockheed Martin Corp. (NYSE:LMT)

Analysis of Long-term (Investment) Activity Ratios

Beginner level

Long-term Activity Ratios (Summary)

Lockheed Martin Corp., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net fixed asset turnover 9.07 9.07 8.78 8.84 8.51
Net fixed asset turnover (including operating lease, right-of-use asset) 7.96 7.88 8.78 8.84 8.51
Total asset turnover 1.29 1.26 1.20 1.10 0.99
Equity turnover 10.87 19.13 38.57 31.27

Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lockheed Martin Corp.’s net fixed asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lockheed Martin Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lockheed Martin Corp.’s total asset turnover ratio improved from 2018 to 2019 and from 2019 to 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Lockheed Martin Corp.’s equity turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Net Fixed Asset Turnover

Lockheed Martin Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net sales 65,398  59,812  53,762  51,048  47,248 
Property, plant and equipment, net 7,213  6,591  6,124  5,775  5,549 
Long-term Activity Ratio
Net fixed asset turnover1 9.07 9.07 8.78 8.84 8.51
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 4.92 6.12 8.00 7.37 7.38
Northrop Grumman Corp. 5.20 4.90 4.72 6.11 6.83
Raytheon Technologies Corp. 3.78 6.04 5.41 5.87 6.25
Net Fixed Asset Turnover, Sector
Aerospace & Defense 6.38 6.72 7.00 7.19
Net Fixed Asset Turnover, Industry
Industrials 2.44 2.56 2.45 2.41

Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09).

1 2020 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 65,398 ÷ 7,213 = 9.07

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lockheed Martin Corp.’s net fixed asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Lockheed Martin Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net sales 65,398  59,812  53,762  51,048  47,248 
 
Property, plant and equipment, net 7,213  6,591  6,124  5,775  5,549 
ROU operating lease assets 1,000  1,000  —  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 8,213  7,591  6,124  5,775  5,549 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 7.96 7.88 8.78 8.84 8.51
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co. 4.45 5.59 8.00 7.37 7.38
Northrop Grumman Corp. 4.28 4.02 4.72 6.11 6.83
Raytheon Technologies Corp. 3.36 5.02 5.41 5.87 6.25
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Aerospace & Defense 5.49 6.72 7.00 7.19
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.29 2.56 2.45 2.41

Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09).

1 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 65,398 ÷ 8,213 = 7.96

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lockheed Martin Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Total Asset Turnover

Lockheed Martin Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net sales 65,398  59,812  53,762  51,048  47,248 
Total assets 50,710  47,528  44,876  46,521  47,806 
Long-term Activity Ratio
Total asset turnover1 1.29 1.26 1.20 1.10 0.99
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.38 0.57 0.86 1.01 1.05
Northrop Grumman Corp. 0.83 0.82 0.80 0.74 0.96
Raytheon Technologies Corp. 0.35 0.55 0.50 0.62 0.64
Total Asset Turnover, Sector
Aerospace & Defense 0.68 0.75 0.85 0.88
Total Asset Turnover, Industry
Industrials 0.63 0.67 0.62 0.62

Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09).

1 2020 Calculation
Total asset turnover = Net sales ÷ Total assets
= 65,398 ÷ 50,710 = 1.29

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lockheed Martin Corp.’s total asset turnover ratio improved from 2018 to 2019 and from 2019 to 2020.

Equity Turnover

Lockheed Martin Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net sales 65,398  59,812  53,762  51,048  47,248 
Stockholders’ equity (deficit) 6,015  3,127  1,394  (683) 1,511 
Long-term Activity Ratio
Equity turnover1 10.87 19.13 38.57 31.27
Benchmarks
Equity Turnover, Competitors2
Boeing Co. 298.31 263.08 115.75
Northrop Grumman Corp. 3.48 3.84 3.68 3.66 4.66
Raytheon Technologies Corp. 0.78 1.84 1.73 2.02 2.08
Equity Turnover, Sector
Aerospace & Defense 5.48 5.20 6.33 6.36
Equity Turnover, Industry
Industrials 3.45 3.55 2.96 2.87

Based on: 10-K (filing date: 2021-01-28), 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09).

1 2020 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity (deficit)
= 65,398 ÷ 6,015 = 10.87

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Lockheed Martin Corp.’s equity turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020.