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Enterprise Value to FCFF (EV/FCFF)
Free Cash Flow to The Firm (FCFF)
Lockheed Martin Corp., FCFF calculation
US$ in millions
Based on: 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), 10-K (filing date: 2016-02-24).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Lockheed Martin Corp.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Lockheed Martin Corp.’s FCFF decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level. |
Interest Paid, Net of Tax
Lockheed Martin Corp., interest paid, net of tax calculation
US$ in millions
Based on: 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), 10-K (filing date: 2016-02-24).
2 2019 Calculation
Interest payments, tax = Interest payments × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Lockheed Martin Corp., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Valuation Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Boeing Co. | |
| General Dynamics Corp. | |
| Northrop Grumman Corp. | |
| Raytheon Technologies Corp. | |
| EV/FCFF, Sector | |
| Aerospace & Defense | |
| EV/FCFF, Industry | |
| Industrials | |
Based on: 10-K (filing date: 2020-02-07).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Lockheed Martin Corp., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | ||||||
| Free cash flow to the firm (FCFF)2 | ||||||
| Valuation Ratio | ||||||
| EV/FCFF3 | ||||||
| Benchmarks | ||||||
| EV/FCFF, Competitors4 | ||||||
| Boeing Co. | ||||||
| General Dynamics Corp. | ||||||
| Northrop Grumman Corp. | ||||||
| Raytheon Technologies Corp. | ||||||
| EV/FCFF, Sector | ||||||
| Aerospace & Defense | ||||||
| EV/FCFF, Industry | ||||||
| Industrials | ||||||
Based on: 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), 10-K (filing date: 2016-02-24).
3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Lockheed Martin Corp.’s EV/FCFF ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level. |