Lockheed Martin (LMT) FY2023 results: revenue $67.6 billion, up 2.4% on the year
Lockheed Martin Corp. (LMT) reported revenue of $67.6 billion for fiscal 2023, the year ended 31 December 2023, up 2.4% on the year before. Net income was $6.9 billion, up 20.7%, and diluted earnings per share $27.55. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2024.
Revenue
$67.6 billion
+2.4% on the year
FY2016FY2023
Operating margin
12.6%
12.7% a year earlier
FY2016FY2023
Net income
$6.9 billion
+20.7% on the year
FY2016FY2023
Diluted EPS
$27.55
+27.2% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
7,920
7,802
9,221
+1.5%
Capital expenditure
1,691
1,670
1,522
+1.3%
Free cash flow
6,229
6,132
7,699
+1.6%
Free cash flow margin
9.2%
9.3%
11.5%
Cash from investing
-1,694
-1,789
-1,161
Cash from financing
-7,331
-7,070
-7,616
Depreciation and amortisation
1,430
1,404
1,364
+1.9%
Share-based compensation
265
238
227
+11.3%
Buybacks
6,000
7,900
4,087
-24.1%
Dividends paid
3,056
3,016
2,940
+1.3%
Dividend per share
$12.15
$11.40
$10.60
+6.6%
Diluted shares, weighted
251m
265m
277m
-5.1%
Shares outstanding at period end
240m
254m
271m
-5.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,835
9,266
10,959
-26.2%
Non-controlling interest
n/a
n/a
0.0
Debt
17,459
15,547
11,676
+12.3%
Operating lease liabilities
862
916
1,100
-5.9%
Other liabilities
27,300
27,151
27,138
+0.5%
Total liabilities and equity
52,456
52,880
50,873
-0.8%
Fixed assets
8,370
7,975
7,597
+5.0%
Goodwill
10,799
10,780
10,813
+0.2%
Intangible assets
2,212
2,459
2,706
-10.0%
Trading assets
1,800
1,600
2,100
+12.5%
Cash and equivalents
1,442
2,547
3,604
-43.4%
Receivables
2,132
2,505
1,963
-14.9%
Inventory
3,132
3,088
2,981
+1.4%
Other assets
22,569
21,926
19,109
+2.9%
Total assets
52,456
52,880
50,873
-0.8%
10-K for the year ended 31 December 2023, filed 23 January 2024: the filing.