Lockheed Martin Corporation (LMT)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 17,291,000 | 15,429,000 | 11,670,000 | 11,669,000 | 11,404,000 |
| Total assets | US$ in thousands | 52,456,000 | 52,880,000 | 50,873,000 | 50,710,000 | 47,528,000 |
| Debt-to-assets ratio | 0.33 | 0.29 | 0.23 | 0.23 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $17,291,000K ÷ $52,456,000K
= 0.33
Lockheed Martin Corp.'s debt-to-assets ratio has shown some fluctuations over the past five years. The ratio increased from 0.23 in 2021 to 0.33 in 2023. This indicates that the company's reliance on debt as a source of financing in relation to its total assets has increased. However, it is important to note that the ratio was at its lowest in 2021 at 0.23, suggesting a relatively lower level of debt in relation to total assets. The ratio then increased to 0.33 in 2023, signifying a higher proportion of debt to assets. Overall, the trend indicates some variability in the company's capital structure and financing strategy over the past five years.