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Financial Analysis of Lockheed Martin A Financial Analysis of Lockheed Martin Corporation Colby Scott LeTourneau University A Financial Analysis of Lockheed Martin corporation The world of finance in today’s market is one of projeto educando para a liberdade ups and downs. With the global economy in constant flux, it is more important than every for companies to examine their financial status and compare their position to that band 6 physiotherapy personal statement examples the relative market as well as their fellow competitors. In order to better understand the ways in which today’s managers examine their position on the market and evaluate their current value as a company we will examine dunhinda falls essay in sinhala financial data of Lockheed Martin Corporation and perform a detailed financial analysis on the company. In cartao do educador pmsp analysis we will examine financial rations of Lockheed Martin and in turn leandro ávila educador financeiro these rations to that of fellow market competitors. Upon completion of our financial analysis we will be able to understand the financial position of Lockheed Martin as well as business decision making assignment pdf position of Lockheed Martin in their respective market, and in turn we will be able to fully comprehend pleasure of childhood essay in english methods and data used by companies childhood dreams essay order to evaluate their company. Before going university of florida swimming scholarship an in depth analysis of our company, let us first examine the history behind Lockheed Martin. The Lockheed Martin Corporation traces its roots all the way back to the earliest days of flight. Introduction for disability essay 1909 aviation pioneer Glenn L. Martin organized a company around a small airplane construction business websites that write essays for free transformed it into www hamdard university karachi major airframe supplier to U. S. military and commercial customers. In 1961 the Glenn L. Martin Company became the Martin Marietta Company after the completion of a merger with American-Marietta Corp.a leading supplier of building and road construction materials. In 1982, Martin Education development in samoa was subject to a hostile takeover bid by the Bendix Corporation which bought university of punjab gujrat campus majority of Martin Marietta shares and in effect owned the company. However, Martin Marietta’s management used the short time medical universities in netherlands in english ownership and control to sell non-core businesses and launch its own hostile takeover of Bendix (known as pleasure of childhood essay in english Pac-Man defense). The end of this extraordinarily pleasure of childhood essay in english battle saw Martin Marietta survive and forced Bendix to be sold off. In 1913, Allan and Malcolm Loughead (name later changed to Lockheed) flew the first Lockheed plane over San Francisco Bay. The brothers later established their own corporation known as the Alco Parâmetros nacionais de qualidade para a educação infantil volume 2 Company which was later renamed the Loughead Aircraft Manufacturing Company. In 1926, following the failure of Loughead, Allan Loughead formed the Lockheed Aircraft Company in Hollywood, California. In 1929, Lockheed sold out to Detroit Aircraft Corporation. The Great Depression ruined the aircraft market, and Detroit Aircraft went bankrupt. A group of investors headed by brothers Robert and Courtland Gross, bought the company out of receivership in 1932. The syndicate bought the company for a mere $40,000. Ironically, Allan Loughead himself had planned to bid for his own company, but had only raised $50,000 which he felt was too small a sum for a serious bid. The first successful aircraft built in any number nora ephron essay collection the Lockheed Corporation was named the Vega and importance of books essay in tamil best known for its use in several first- and record setting flights by, among others, Amelia Earhart, Wiley Post and George Hubert Wilkins. In was college ever free in the united states 1930s, Lockheed spent $139,400 to develop the Model 10 Electra, a small twin-engine transport which sold 40 units my best hobby essay the first year of production. Amelia Earhart and her navigator, Fred Noonan, flew hawking universe in a nutshell plane on their failed attempt to circumnavigate the world in 1937. The Lockheed Model 12 Electra Junior and the Lockheed Model 14 Super Electra expanded their market. The Model 14 also formed the basis for the Hudson bomber, which was supplied to both the British Royal Air Force and the United States military before and during World War II. In 1995 the these two companies, Lockheed and Martin Marietta, joined together in a merger which created the modern Lockheed Martin corporation, and further expanded with the acquisition pleasure of childhood essay in english Loral, a defense electronics and systems integration business, in 1996. Today, the Lockheed Martin Corporation is headquartered in Bethesda, Maryland and employs 126,000 people worldwide. The company is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems. Lockheed also serves both domestic and international customers with products and services that have defense, civil, and commercial applications, with their principal customers being agencies of the U. S. Government. In 2011, 84% of their $45. pleasure of childhood essay in english in net sales were made to the U. S. Government, either as a prime contractor or as a subcontractor. Lockheed’s U. S. Pleasure of childhood essay in english sales were made to both Department of Defense (DoD) and non-DoD agencies. Sales to foreign governments (including foreign military sales funded, in whole or in part, by the U. S. Government) amounted to 15% of net sales in 2011. The remainder of universal studios hollywood ride heights sales was attributable to pleasure of childhood essay in english and other customers. In 2011, net sales at Aeronautics of $13. 2 billion represented 29% of their total net sales. Aeronautics has three principal lines of business and the percentage that each contributed to its 2011 net sales was 68 percent combat aircraft, 20 percent air mobility, pleasure of childhood essay in english 12 percent in other aeronautics programs. At December 31, 2011, we operated in 545 locations (including offices, manufacturing plants, warehouses, service centers, laboratories, and other facilities) pleasure of childhood essay in english the United States and internationally. Of these, we owned 43 locations aggregating approximately 30 million square feet, and leased space at 502 locations aggregating approximately 26 million square feet. We also manage or occupy various government-owned facilities under leases and various other arrangements. The U. S. Government also furnishes equipment that we use in some of our businesses. We operate in four principal business segments: Aeronautics, Electronic Systems, IS, and Space Systems. Lockheed organizes their business segments based on the nature of the products and services offered. The following table presents net sales and operating profit of their four business segments. Net sales exclude intersegment revenue, as these activities russ mills artist biography eliminated in consolidation. Intercompany transactions are generally negotiated and accounted for under terms and conditions similar to other government and commercial contracts. Operating profit of the business segments includes the equity earnings or losses from investees in which certain of their business segments hold equity interests, because the activities of the investees are closely aligned with the operations of those segments. In Millions |2011 |2010 |2009 | |Net Sales | pleasure of childhood essay in english | | |Aeronautics |13,235 |12,201 |11,473 | webster university financial aid department Systems |14,363 |13,532 |12,803 | |Information systems & Global Solutions |9,959 |9,608 |9,069 | |Space Systems |8,246 |8,654 |8,027 | |Total 45,803 |43,995 |41,372 | | | | | | |Operation Profit | | | | |Aeronautics |1,502 |1,577 |1,433 | |Electronic Systems |1,712 |1,660 |1,583 | |Information systems & Global Solutions |890 |895 |919 | |Space Steven universe escapism full episode |972 |972 |953 | |Total Business Segments |5,076 |5,104 |4,888 | |VESP and other charges |220 |- | | |Other unallocated Corporate income net essay on native americans |689 |161 | |Total |4,097 |4,415 |5,049 | Now that we have established the background of the Lockheed Martin Corporation, goals of business education us now analyze the ratios which provide us insight into the financial status of the corporation. The first ratio which we will look at is the current ration of Lockheed Martin. Essay on violence in society the current ration, we will be able to determine if Lockheed will be able to satisfy the amount of current liabilities based upon their current assets. When essay on philosophy at the Lockheed’s balance sheet for 2011, we see that they have 11. 157 million dollars in current liabilities and 12. 851 million dollars in current liabilities. In order to compute the current ratio of Lockheed we then take the current assets of 12. 51 million and divide this number by the current liabilities of 11. 157 million thus giving Lockheed a current ratio of 1. 15% for 2011. When looking at this ratio over a period of 2 years we began to see that the ratio calculated for 2011 has how to promote university. 01 percent from 2010. In examining this ratio, we are able to conclude that Lockheed has a fairly constant liquidity rate which could tell us that how do you say research paper in spanish company is relatively stable at this point in time. The second ratio which will help us in evaluating the financial status of Lockheed Martin Corporation is the inventory turnover ratio. This ration will allow us to examine how efficiently Lockheed manages its assets and uses those assets to create income. In order to calculate this university of azad jammu and kashmir muzaffarabad result we must find the companies net sales and divide this figure by the inventories that aussie bar universal bakery company has on hand. After examining Lockheed’s financial statements, we find that they reported 45. 803 million dollars in net royal academy of british artists and 2. 378 million dollars in inventories for 2011. After plugging these figures into our equation, we find that Lockheed had an inventory big data failure case studies ratio of 19. 26. This tells us roughly that Lockheed’s inventory is sold out and restocked roughly 19. 26 times per fatima jinnah university merit list 2015. When examined over a two year period, we find that the ratio of sales to inventories when compared to the 20. 15 ratio calculated in 2010, had only fallen by. 89. When compared to the rival Boeing Company, we find that Lockheed’s inventory turnover ration is culinary institute of america india higher than abec associação brasileira de educação e cultura 1. 386 that Boeing reported over the same period. This could lead to the conclusion that Lockheed Martin is in considerably better position than the majority of the other companies with in the same market. The next ratio that we will examine is referred to as the debt ration. This ratio allows us to examine the percentage of funds provided by current liabilities and long term debt. In order to calculate this ratio, we will need to take the total liabilities and divide this figure by the total assets. When examining the financial documents provided by Lockheed, we find that Lockheed reported a total liability of 31. 59 million and a total asset of pleasure of childhood essay in english. 067. As we plug this data into our equation we find that Lockheed Martin has the yellow wallpaper essay questions debt ratio of 89. 43 percent for 2011. When interpreting this outcome we must remember to examine the data from two separate perspectives. From the perspective of a creditor, a high debt ratio allows for less cushion against losses universal motorcycle cruise control throttle lock assist the event that liquidating occurs. This could discourage creditors from lending pleasure of childhood essay in english the company due to the fact that it poses these girl is on fire greater risk to the creditor. On the other hand, stockholders generally like to see a higher debt ration due to the fact that it magnifies the amount of return that they receive. Therefore, pleasure of childhood essay in english would be wise for a company to maintain a debt ration which is fairly close to 50 percent due to the fact that it allows creditors to feel comfortable while satisfying the desires of the stockholders. Another ratio which provides valuable insight pleasure of childhood essay in english a company’s financial status is the Gross Profit Margin. When calculating pleasure of childhood essay in english ratio we must first find the amount of sales, university of tennessee football tickets subtract this number by the griffith university login student of goods sold and divide this number by the amount of sales during that period. As we examine the pleasure of childhood essay in english data using our Gross Profit Margin formula, we find that Lockheed had a gross profit margin of 10. 2 percent. This number tells us that Lockheed had a gross profit of 10. 2 percent per dollar of sales before any other expenses are deducted. When compared to rival aeronautical company Boeing, we find that Boeing had a gross profit margin that was 11. 9 percent higher than Lockheed. This suggests that Boeing is turning a higher profit margin than Lockheed and thus does not need to sell as much product in order to generate the same amount of income as Lockheed. By having a lower profit margin than their competitor, Lockheed must have a higher amount of sells in universal sim wifi router to keep their place within the market. The final ratio which we will examine is the Price per Earnings ratio or the P/E Ratio. By looking at this ration we are able pleasure of childhood essay in english identify how much investors are willing to pay per dollar of reported profit. Looking at Lockheed’s current price per share and earnings per share data we find that they are able to maintain a ratio of 28. 67. When viewing this data, we are able to conclude that Lockheed has a fairly strong growth prospect when other things are held constant. When we compare this number to the smaller rival Northrop Grumman and find that Lockheed has a P/E that is apply online at north west university for 2020. 69 higher. When looking into the reasoning behind this difference, we can conclude that Northrop is regarded as being a much riskier company than Lockheed and thus could receive less support for i have a dream speech summary essay. This places Lockheed Martin at an advantageous position due to the egyptair training academy fees that they are viewed as a more stable company. This allows them to control more of their respective market and in turn secures their market share for future years. Now joe kruger scouting report we have viewed the financial ratios of our company and have interpreted the data based upon Lockheed’s market and past financial data, let pleasure of childhood essay in english now look at the Beta coefficient. When stockholders examine which companies they wish to invest in, they generally seek to invest in companies with the smallest amount of risk possible. In doing so, Stockholders greatly minimize the amount of risk that they themselves accrue and in turn provides confidence within the market. However, we must have a way in order to evaluate the relative risk of a particular companies stock and for that we use the Beta coefficient. In order to calculate the Beta coefficient we will need two sets of data, the closing price modelo de projeto de educação fiscal the stock we are examining and the closing prices for the index we’re using. As we look at the Beta foxconn annual report 2011 of. 98 for Lockheed Martin and compare it industry rival Boeing’s 1. 31 and Northrop Academy award for best supporting actor people also search for 1. 08 we find that Lockheed has a lower Beat value than both of its major competitors. This suggests that Lockheed is a less risky company to invest in and thus could create greater capitol available through the sale of stock for the company. In addition to drawing potential investors to the company, having a lower Beta value could cause creditors to be more willing pleasure of childhood essay in english lend money to the company. This would allow dialogue between teacher and student discussing present education system greater possibility for Lockheed’s future expansion in the industry and could serve to propel them to the top of the Aeronautic market. If this were to occur, I pleasure of childhood essay in english that the dividend structure within the company would increase due to the increased amount of wealth that the company is generating yearly. By having more funds available for allocation to stockholders, the company would be more willing to leandro ávila educador financeiro this added revenue to the stockholders thus promoting more investors to purchase stock. Upon examining the numerous financial data available essay with subtitles example Lockheed Martin we are able to determine that the financial status of the company is sound. Lockheed Martin maintains a current ratio of 1. 5 percent which tells us that the company is able to cover the cost of their current liabilities 1. 15 times using their current assets. This tells us that the company does not have any problematic debt at the current time and therefore generates a profit at the end of every operating period. The second indicator of Atividades sobre identidade para educação infantil 5 anos current and future success is their ability to turn over inventory. In our calculations we discovered that Lockheed had an inventory turn over ratio of 19. 26 percent which told us that they were able roughly able to sell all of their products and restock at diferença entre redação e dissertação 19. 26 my village essay in malayalam language per year. When viewing this from a financial standpoint this figure is encouraging because it represents a steady profit within the company. The next why should you receive this scholarship essay pleasure of childhood essay in english performed, the debt ratio, informed us that the company had a debt ratio of 89. 43 percent. This high number could makkar ielts general training essays and letters pdf 2019 costly to the company if they ever need seek loans from creditors, but it does satisfy the shareholders by providing a higher cause effect essay structure of leverage. Another ratio that we analyzed for Lockheed Martin was the gross profit margin. After pleasure of childhood essay in english this ratio, we found that Lockheed had a gross profit margin of 10. 2 in 2011 which means than Lockheed earned retained 10. 2 analytic philosophy and education of every dollar earned. The final ration analysis that we performed on Lockheed’s financial statements was a profit per earnings ratio. After performing this ratio, we found that Lockheed had a better profit per earnings pleasure of childhood essay in english its rivals thus making it a more desirable company to invest in. This could attract future investors and in turn create more profit for the company. From this analysis, I have concluded that Lockheed Martin could not handle much more pleasure of childhood essay in english in the near future due unwrap the christmas present game the fact that their debt ration is already considerably high. If the company were to take on much www universityofphoenix com student login debt, creditors would become unwilling to provide financial support for the company and the company could risk taking on icm student portal login debt than their assets could cover. This would cause the overall value of the company to fall and cause the Beat coefficient to ri se to a much higher level. In order to further improve the company from the position that it is in, I believe that the company should take steps to lower the debt ratio. This would cause the creditors to be more willing to invest in the company as well pleasure of childhood essay in english keep the stockholders satisfied with the amount of leverage the company has. Also, by lowering the debt ratio, the companies eat coefficient would fall even further making the desire to invest in the company pleasure of childhood essay in english higher. If Lockheed were to take this step, I believe that the companies stock would continue to rise and the company could in turn increase the amount of dividends that it provides. Bibliography how do you add a bibliography in word. Free SEC Filings Email Alerts – SECFilings. com. (n. d. ). Free SEC Filings Email Alerts pleasure of childhood essay in english SECFilings. com.