General Dynamics vs Lockheed Martin GD vs LMT
General Dynamics 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: Lockheed Martin 2.3×, General Dynamics 0.3×.
- Return on equity: Lockheed Martin 71.7%, General Dynamics 16.6%.
- Market value: Lockheed Martin $127.42B, General Dynamics $93.13B.
- One-year price return: Lockheed Martin +11.9%, General Dynamics +4.1%.
Price return
2025-10-16 → 2026-10-16
GD+4.1%
LMT+11.9%
Profile
latestSector
Industrials
Industrials
Industry
Aerospace & Defense
Aerospace & Defense
Market value
$93.13B
$127.42B
Enterprise value
$97.49B
$144.16B
Employees
117,000
123,000
Revenue per employee (TTM)
$460K
$626K
Our models
nightlythe valuation on each stock's pagePrice vs model
12% undervalued vs model
14% overvalued vs model
Model range
$228–1007
$249–1093
Models in the headline
1
1
FCF growth priced in, at a 10% return
13.5%
10.3%
Every model, its assumptions and its range: GD valuation · LMT valuation. The growth priced in, at any return: GD reverse DCF · LMT reverse DCF.
Trading
close 2026-10-16Last close
$344.23
$552.09
52-week high
$395.97
$676.70
52-week low
$312.53
$439.19
Price vs 52-week high
−13.1%
−18.4%
Price vs 52-week low
+10.1%
+25.7%
Average daily volume / shares
0.4%
0.5%
Beta
0.33
0.10
Returns
to 2026-10-161 month
−4.4%
+2.8%
3 months
−6.7%
+7.5%
6 months
+2.8%
−9.1%
Year to date
+2.2%
+14.1%
1 year
+4.1%
+11.9%
1 year, dividends added
+6.0%
+14.7%
2 years
+12.9%
−9.9%
Valuation
GD price × TTM to Apr 2026 · LMT price × TTM to Jun 2026P/E (TTM)
—
20.3×
P/E on consensus EPS (next FY)
20.2×
18.2×
Price / sales
1.7×
1.7×
EV / sales
1.8×
1.9×
EV / EBITDA
15.1×
—
Price / book
3.6×
14.5×
Price / free cash flow (FY)
23.5×
18.4×
Free-cash-flow yield (FY)
4.3%
5.4%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+6.5%
+7.9%
Revenue, 3-year CAGR
10.1%
4.4%
Revenue, 5-year CAGR
6.7%
2.8%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+10.1%
+41.4%
EPS, 3-year CAGR
8.2%
−0.3%
Free cash flow, 3-year CAGR
4.5%
4.1%
Diluted shares, 3-year change
−2.1%
−12.4%
Profitability
GD TTM to Apr 2026 · LMT TTM to Jun 2026Gross margin (FY)†
15.1%
10.2%
Operating margin
10.2%
11.9%
EBITDA margin
12.0%
—
Net margin
8.1%
8.2%
Free-cash-flow margin (FY)
7.5%
9.2%
Return on equity
16.6%
71.7%
Return on assets
7.4%
10.1%
Asset turnover
0.91
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
GD MRQ Apr 2026 · LMT MRQ Jun 2026Cash
$3.65B
$3.79B
Total debt
$8.01B
$20.54B
Net debt
$4.36B
$16.75B
Debt / equity
0.3×
2.3×
Net debt / EBITDA (TTM)
0.7×
—
Interest coverage (FY)
17.1×
6.9×
Current ratio (FY)
1.44
1.09
Dividends
trailing 12 monthsDividend yield
1.8%
2.5%
Dividends per share
$6.27
$13.80
Payout ratio (of TTM EPS)
—
50.9%
Dividend per share, 5-year CAGR
6.1%
5.8%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
5
6
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$3.4M
$118K
Analyst upgrades
0
1
Analyst downgrades
0
0
Statements
GD income TTM to Apr 2026 · cash flow FY2025 · LMT income TTM to Jun 2026 · cash flow FY2025Revenue
$53.81B
$77.02B
EBITDA
$6.44B
—
Operating income
$5.51B
$9.15B
Net income
$4.34B
$6.29B
EPS (diluted)
—
$27.13
Operating cash flow
$5.12B
$8.56B
Capital expenditure
−$1.16B
−$1.65B
Free cash flow
$3.96B
$6.91B
Dividends paid
$1.59B
$3.13B
Statements from the companies' SEC filings; 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.