Lockheed Martin (LMT) FY2024 results: revenue $71.0 billion, up 5.1% on the year
Lockheed Martin Corp. (LMT) reported revenue of $71.0 billion for fiscal 2024, the year ended 31 December 2024, up 5.1% on the year before. Net income was $5.3 billion, down 22.9%, and diluted earnings per share $22.31. The figures are the company's own, from the 10-K it filed with the SEC on 28 January 2025.
Revenue
$71.0 billion
+5.1% on the year
FY2017FY2024
Operating margin
9.9%
12.6% a year earlier
FY2017FY2024
Net income
$5.3 billion
-22.9% on the year
FY2017FY2024
Diluted EPS
$22.31
-19.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
6,972
7,920
7,802
-12.0%
Capital expenditure
1,685
1,691
1,670
-0.4%
Free cash flow
5,287
6,229
6,132
-15.1%
Free cash flow margin
7.4%
9.2%
9.3%
Cash from investing
-1,792
-1,694
-1,789
Cash from financing
-4,139
-7,331
-7,070
Depreciation and amortisation
1,559
1,430
1,404
+9.0%
Share-based compensation
277
265
238
+4.5%
Buybacks
3,700
6,000
7,900
-38.3%
Dividends paid
3,059
3,056
3,016
+0.1%
Dividend per share
$12.75
$12.15
$11.40
+4.9%
Diluted shares, weighted
239m
251m
265m
-4.8%
Shares outstanding at period end
234m
240m
254m
-2.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,333
6,835
9,266
-7.3%
Debt
20,270
17,459
15,547
+16.1%
Operating lease liabilities
833
862
916
-3.4%
Other liabilities
28,181
27,300
27,151
+3.2%
Total liabilities and equity
55,617
52,456
52,880
+6.0%
Fixed assets
8,726
8,370
7,975
+4.3%
Goodwill
11,067
10,799
10,780
+2.5%
Intangible assets
2,015
2,212
2,459
-8.9%
Trading assets
1,800
1,800
1,600
0.0%
Cash and equivalents
2,483
1,442
2,547
+72.2%
Receivables
2,351
2,132
2,505
+10.3%
Inventory
3,474
3,132
3,088
+10.9%
Other assets
23,701
22,569
21,926
+5.0%
Total assets
55,617
52,456
52,880
+6.0%
10-K for the year ended 31 December 2024, filed 28 January 2025: the filing.