Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

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Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

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Short-term Activity Ratios (Summary)

Lockheed Martin Corp., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Lockheed Martin Corp. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Lockheed Martin Corp. receivables turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Lockheed Martin Corp. payables turnover ratio increased from 2019 to 2020 and from 2020 to 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Lockheed Martin Corp. working capital turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Lockheed Martin Corp. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Lockheed Martin Corp. operating cycle improved from 2019 to 2020 and from 2020 to 2021.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Lockheed Martin Corp. number of days of payables outstanding decreased from 2019 to 2020 and from 2020 to 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Lockheed Martin Corp. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.

Inventory Turnover

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Inventory Turnover, Sector
Capital Goods
Inventory Turnover, Industry
Industrials

Based on: 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).

1 2021 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Lockheed Martin Corp. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Receivables Turnover

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales
Receivables, net
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Receivables Turnover, Sector
Capital Goods
Receivables Turnover, Industry
Industrials

Based on: 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).

1 2021 Calculation
Receivables turnover = Net sales ÷ Receivables, net
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Lockheed Martin Corp. receivables turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Payables Turnover

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Payables Turnover, Sector
Capital Goods
Payables Turnover, Industry
Industrials

Based on: 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).

1 2021 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Lockheed Martin Corp. payables turnover ratio increased from 2019 to 2020 and from 2020 to 2021.

Working Capital Turnover

Lockheed Martin Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Net sales
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Working Capital Turnover, Sector
Capital Goods
Working Capital Turnover, Industry
Industrials

Based on: 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).

1 2021 Calculation
Working capital turnover = Net sales ÷ Working capital
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Lockheed Martin Corp. working capital turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Average Inventory Processing Period

Lockheed Martin Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Average Inventory Processing Period, Sector
Capital Goods
Average Inventory Processing Period, Industry
Industrials

Based on: 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).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Lockheed Martin Corp. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.

Average Receivable Collection Period

Lockheed Martin Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Average Receivable Collection Period, Sector
Capital Goods
Average Receivable Collection Period, Industry
Industrials

Based on: 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).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Lockheed Martin Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Operating Cycle, Sector
Capital Goods
Operating Cycle, Industry
Industrials

Based on: 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).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Lockheed Martin Corp. operating cycle improved from 2019 to 2020 and from 2020 to 2021.

Average Payables Payment Period

Lockheed Martin Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Average Payables Payment Period, Sector
Capital Goods
Average Payables Payment Period, Industry
Industrials

Based on: 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).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Lockheed Martin Corp. number of days of payables outstanding decreased from 2019 to 2020 and from 2020 to 2021.

Cash Conversion Cycle

Lockheed Martin Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
3M Co.
Boeing Co.
Caterpillar Inc.
General Electric Co.
Honeywell International Inc.
Raytheon Technologies Corp.
Cash Conversion Cycle, Sector
Capital Goods
Cash Conversion Cycle, Industry
Industrials

Based on: 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).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Lockheed Martin Corp. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.