Enterprise Value (EV)
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Lockheed Martin Corp. pages available for free this week:
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
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Current Enterprise Value (EV)
Lockheed Martin Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests in subsidiary (per books) | |
| Total equity | |
| Add: Current maturities of long-term debt (per books) | |
| Add: Long-term debt, net, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Lockheed Martin Corp., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Lockheed Martin Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data reveals several notable trends over the five-year period under review. The common equity and total equity values exhibit a general upward trajectory from 2020 to 2022, increasing from approximately 91,854 million US dollars to 117,388 million US dollars. However, in 2023, both figures decline to around 106,243 million US dollars, followed by a slight recovery in 2024 to approximately 107,677 million US dollars.
Regarding the company's capital structure, total equity and debt show a consistent growth from 2020 to 2022, rising from 104,046 million US dollars to 132,935 million US dollars. This growth suggests an increased use of combined financing sources during this period. Similar to total equity, the total equity and debt figure decreases in 2023 to 123,702 million US dollars but rebounds in 2024 to 127,947 million US dollars, indicating a possible shift in financing strategy or changes in liabilities.
The enterprise value (EV), which reflects the overall company valuation, follows a pattern analogous to total equity and debt. The EV rises steadily from 100,886 million US dollars in 2020 to 130,388 million US dollars in 2022, then declines to 122,260 million US dollars in 2023, and shows a moderate increase in 2024 to 125,464 million US dollars. This trend suggests that market perception of the company's value improved up to 2022 before experiencing a contraction and partial recovery.
- Equity Trends
- The equity metrics peaked in 2022 before dropping in 2023, followed by stabilization in 2024, indicating possible fluctuations in retained earnings, share buybacks, or changes in stock price affecting market capitalization.
- Capital Structure
- The increase in total equity and debt until 2022 suggests growth financed through a mix of equity and liabilities, while the subsequent decline and recovery indicate adjustments in financing or repayments.
- Enterprise Value
- The EV movements closely mirror the changes in the company’s financing components, reflecting shifts in market valuation corresponding with changes in equity and debt structure.
Overall, the data portrays a period of growth until 2022, followed by a contraction in 2023 and a partial rebound in 2024 across key financial metrics. These developments highlight a phase of expansion, retrenchment, and modest recovery in the company's financial position and market valuation.