Lockheed Martin vs Northrop Grumman LMT vs NOC
Lockheed Martin and Northrop Grumman 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
- Return on equity: Lockheed Martin 71.7%, Northrop Grumman 25.1%.
- Debt / equity: Lockheed Martin 2.3×, Northrop Grumman 0.8×.
- One-year price return: Lockheed Martin +11.9%, Northrop Grumman −13.2%.
- Market value: Lockheed Martin $127.42B, Northrop Grumman $73.85B.
Price return
2025-10-16 → 2026-10-16
LMT+11.9%
NOC−13.2%
Profile
latestSector
Industrials
Industrials
Industry
Aerospace & Defense
Aerospace & Defense
Market value
$127.42B
$73.85B
Enterprise value
$144.16B
$86.74B
Employees
123,000
95,000
Revenue per employee (TTM)
$626K
$451K
Our models
nightlythe valuation on each stock's pagePrice vs model
14% overvalued vs model
41% undervalued vs model
Model range
$249–1093
$418–1436
Models in the headline
1
1
FCF growth priced in, at a 10% return
10.3%
14.1%
Every model, its assumptions and its range: LMT valuation · NOC valuation. The growth priced in, at any return: LMT reverse DCF · NOC reverse DCF.
Trading
close 2026-10-16Last close
$552.09
$519.86
52-week high
$676.70
$768.02
52-week low
$439.19
$473.46
Price vs 52-week high
−18.4%
−32.3%
Price vs 52-week low
+25.7%
+9.8%
Average daily volume / shares
0.5%
0.6%
Beta
0.10
-0.11
Returns
to 2026-10-161 month
+2.8%
−2.1%
3 months
+7.5%
+0.2%
6 months
−9.1%
−22.7%
Year to date
+14.1%
−8.8%
1 year
+11.9%
−13.2%
1 year, dividends added
+14.7%
−11.6%
2 years
−9.9%
−2.2%
Valuation
price × TTM to Jun 2026P/E (TTM)
20.3×
16.5×
P/E on consensus EPS (next FY)
18.2×
18.0×
Price / sales
1.7×
1.7×
EV / sales
1.9×
2.0×
EV / EBITDA
—
14.2×
Price / book
14.5×
4.1×
Price / free cash flow (FY)
18.4×
22.3×
Free-cash-flow yield (FY)
5.4%
4.5%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+7.9%
+5.0%
Revenue, 3-year CAGR
4.4%
4.7%
Revenue, 5-year CAGR
2.8%
2.7%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+41.4%
−0.5%
EPS, 3-year CAGR
−0.3%
−2.6%
Free cash flow, 3-year CAGR
4.1%
31.1%
Diluted shares, 3-year change
−12.4%
−7.6%
Profitability
TTM to Jun 2026Gross margin (FY)†
10.2%
19.8%
Operating margin
11.9%
10.7%
EBITDA margin
—
14.3%
Net margin
8.2%
10.5%
Free-cash-flow margin (FY)
9.2%
7.9%
Return on equity
71.7%
25.1%
Return on assets
10.1%
8.9%
Asset turnover
1.23
0.84
† 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
MRQ Jun 2026Cash
$3.79B
$2.31B
Total debt
$20.54B
$15.19B
Net debt
$16.75B
$12.88B
Debt / equity
2.3×
0.8×
Net debt / EBITDA (TTM)
—
2.1×
Interest coverage (FY)
6.9×
6.4×
Current ratio (FY)
1.09
1.09
Dividends
trailing 12 monthsDividend yield
2.5%
1.8%
Dividends per share
$13.80
$9.56
Payout ratio (of TTM EPS)
50.9%
30.4%
Dividend per share, 5-year CAGR
5.8%
9.6%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
6
4
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$118K
$52K
Analyst upgrades
1
0
Analyst downgrades
0
1
Statements
income TTM to Jun 2026 · cash flow FY2025Revenue
$77.02B
$42.89B
EBITDA
—
$6.12B
Operating income
$9.15B
$4.60B
Net income
$6.29B
$4.50B
EPS (diluted)
$27.13
$31.43
Operating cash flow
$8.56B
$4.76B
Capital expenditure
−$1.65B
−$1.45B
Free cash flow
$6.91B
$3.31B
Dividends paid
$3.13B
$1.29B
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.