Lockheed Martin: this demand is structural, not cyclical
The funding mechanism changed, which changes the durability of the revenue rather than just its level.
Evidence · 4 cards
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Discussion · 5
This lines up with what I saw in the filings. The destocking signature is textbook and nobody is naming it. Interested in what the kill switch looks like in practice.
This lines up with what I saw in the filings. The margin bridge is doing more work here than is acknowledged. Does the same logic apply to the closest comparable?
This changed my mind. The depreciation schedule really is the whole disagreement. Does the same logic apply to the closest comparable?
Respectfully, I think this overstates it. The margin bridge is doing more work here than is acknowledged. How much of this do you think is already in the buy side's numbers?
I came in sceptical. The regulatory ceiling being quantified changes the model, not just the headline. Interested in what the kill switch looks like in practice.