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Enterprise Value to EBITDA (EV/EBITDA)
Difficulty: Intermediate
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Lockheed Martin Corp., EBITDA calculation
USD $ in millions
Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-09).
| Item | Description | The company |
|---|---|---|
| EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | Lockheed Martin Corp.’s EBITDA increased from 2016 to 2017 and from 2017 to 2018. |
Enterprise Value to EBITDA Ratio, Current
Lockheed Martin Corp., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (USD $ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors | |
| Boeing Co. | |
| General Dynamics Corp. | |
| Northrop Grumman Corp. | |
| Raytheon Co. | |
| United Technologies Corp. | |
| EV/EBITDA, Sector | |
| Aerospace & Defense | |
| EV/EBITDA, Industry | |
| Industrials | |
Based on: 10-K (filing date: 2019-02-08).
If company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Lockheed Martin Corp., historical EV/EBITDA calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-09).
2018 Calculations
3 EV/EBITDA = EV ÷ EBITDA
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| EV/EBITDA | EV/EBITDA is a valuation indicator for the overall company rather than common stock. | Lockheed Martin Corp.’s EV/EBITDA ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |