Boeing vs Lockheed Martin BA vs LMT
Boeing and Lockheed Martin on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
What differs most
- Debt / equity: Boeing 7.5×, Lockheed Martin 2.0×.
- Net margin: Lockheed Martin 8.2%, Boeing 2.6%.
- Trailing P/E: Boeing 67.7×, Lockheed Martin 22.6×.
- One-year price return: Lockheed Martin +30.9%, Boeing −14.9%.
- Boeing paid no dividend in the last twelve months.
Price return
2025-10-26 → 2026-10-26
BA−14.9%
LMT+30.9%
Profile
latestSector
Industrials
Industrials
Industry
Aerospace & Defense
Aerospace & Defense
Market value
$148.83B
$146.73B
Enterprise value
$187.49B
$161.27B
Employees
182,000
123,000
Revenue per employee (TTM)
$516K
$643K
Our models
nightlythe valuation on each stock's pagePrice vs model
112% overvalued vs model
16% undervalued vs model
Model range
$68.10–104
$409–1672
Models in the headline
1
1
FCF growth priced in, at a 10% return
—
12.6%
Every model, its assumptions and its range: BA valuation · LMT valuation. The growth priced in, at any return: BA reverse DCF · LMT reverse DCF.
Trading
close 2026-10-26Last close
$188.31
$635.20
52-week high
$252.15
$676.70
52-week low
$179.12
$439.19
Price vs 52-week high
−25.3%
−6.1%
Price vs 52-week low
+5.1%
+44.6%
Average daily volume / shares
0.8%
0.5%
Beta
1.26
0.10
Returns
to 2026-10-261 month
−4.9%
+22.3%
3 months
−10.1%
+9.0%
6 months
−19.0%
+23.7%
Year to date
−13.3%
+31.3%
1 year
−14.9%
+30.9%
1 year, dividends added
−14.9%
+33.7%
2 years
+21.5%
+13.0%
Valuation
BA price × TTM to Jun 2026 · LMT price × TTM to Sep 2026P/E (TTM)
67.7×
22.6×
P/E on consensus EPS (next FY)
—
20.8×
Price / sales
1.6×
1.9×
EV / sales
2.0×
2.0×
EV / EBITDA
24.8×
17.0×
Price / book
24.4×
14.6×
Price / free cash flow (FY)
n/m
21.2×
Free-cash-flow yield (FY)
−1.3%
4.7%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+9.0%
+8.0%
Revenue, 3-year CAGR
10.3%
4.4%
Revenue, 5-year CAGR
9.0%
2.8%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
—
+41.9%
EPS, 3-year CAGR
—
−0.3%
Free cash flow, 3-year CAGR
—
4.1%
Diluted shares, 3-year change
+28.1%
−12.4%
Profitability
BA TTM to Jun 2026 · LMT TTM to Sep 2026Gross margin (FY)†
4.8%
10.2%
Operating margin
4.9%
11.8%
EBITDA margin
8.0%
12.0%
Net margin
2.6%
8.2%
Free-cash-flow margin (FY)
−2.1%
9.2%
Return on equity
39.9%
64.7%
Return on assets
1.5%
10.1%
Asset turnover
0.57
1.23
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
BA MRQ Jun 2026 · LMT MRQ Sep 2026Cash
$7.24B
$5.96B
Total debt
$45.89B
$20.50B
Net debt
$38.65B
$14.54B
Debt / equity
7.5×
2.0×
Net debt / EBITDA (TTM)
5.1×
1.5×
Interest coverage (FY)
-2.0×
6.9×
Current ratio (FY)
1.19
1.09
Dividends
trailing 12 monthsDividend yield
0.0%
2.2%
Dividends per share
$0.00
$13.80
Payout ratio (of TTM EPS)
—
49.0%
Dividend per share, 5-year CAGR
—
5.8%
Frequency
—
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
7
6
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$0
$118K
Analyst upgrades
2
2
Analyst downgrades
0
0
Statements
BA income TTM to Jun 2026 · cash flow FY2025 · LMT income TTM to Sep 2026 · cash flow FY2025Revenue
$94.00B
$79.13B
EBITDA
$7.55B
$9.49B
Operating income
$4.61B
$9.32B
Net income
$2.44B
$6.51B
EPS (diluted)
$2.78
$28.15
Operating cash flow
$1.06B
$8.56B
Capital expenditure
−$2.94B
−$1.65B
Free cash flow
−$1.88B
$6.91B
Dividends paid
$331.0M
$3.13B
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.