Lockheed Martin (LMT) FY2021 results: revenue $67.0 billion, up 2.5% on the year
Lockheed Martin Corp. (LMT) reported revenue of $67.0 billion for fiscal 2021, the year ended 31 December 2021, up 2.5% on the year before. Net income was $6.3 billion, down 7.6%, and diluted earnings per share $22.76. The figures are the company's own, from the 10-K it filed with the SEC on 25 January 2022.
Revenue
$67.0 billion
+2.5% on the year
FY2014FY2021
Operating margin
13.6%
13.2% a year earlier
FY2014FY2021
Net income
$6.3 billion
-7.6% on the year
FY2014FY2021
Diluted EPS
$22.76
-6.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
9,221
8,183
7,311
+12.7%
Capital expenditure
1,522
1,766
1,484
-13.8%
Free cash flow
7,699
6,417
5,827
+20.0%
Free cash flow margin
11.5%
9.8%
9.7%
Cash from investing
-1,161
-2,010
-1,241
Cash from financing
-7,616
-4,527
-5,328
Depreciation and amortisation
1,364
1,019
906
+33.9%
Share-based compensation
227
221
189
+2.7%
Buybacks
4,087
1,100
1,200
+271.5%
Dividends paid
2,940
2,764
2,556
+6.4%
Dividend per share
$10.60
$9.80
$9.00
+8.2%
Diluted shares, weighted
277m
281m
284m
-1.4%
Shares outstanding at period end
271m
279m
280m
-2.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
10,959
6,015
3,127
+82.2%
Non-controlling interest
0.0
23.0
44.0
Debt
11,676
12,169
12,654
-4.1%
Operating lease liabilities
1,100
841
855
+30.8%
Other liabilities
27,138
31,662
30,848
-14.3%
Total liabilities and equity
50,873
50,710
47,528
+0.3%
Fixed assets
7,597
7,213
6,591
+5.3%
Goodwill
10,813
10,806
10,604
+0.1%
Intangible assets
2,706
3,012
3,213
-10.2%
Trading assets
2,100
2,000
1,800
+5.0%
Cash and equivalents
3,604
3,160
1,514
+14.1%
Receivables
1,963
1,978
2,337
-0.8%
Inventory
2,981
3,545
3,619
-15.9%
Other assets
19,109
18,996
17,850
+0.6%
Total assets
50,873
50,710
47,528
+0.3%
10-K for the year ended 31 December 2021, filed 25 January 2022: the filing.