AIT vs. LMT: Applied Industrial vs. Lockheed Martin Stock Comparison

November 11, 2026

How do Applied Industrial (AIT) and Lockheed Martin (LMT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Applied Industrial (AIT) and Lockheed Martin (LMT) both fall under the Capital Goods industry group, but AIT is classified in Trading Companies & Distributors while LMT is classified in Aerospace & Defense.

Company profile comparison for Applied Industrial (AIT) and Lockheed Martin (LMT)
Profile Item	AIT	LMT
Name	Applied Industrial Technologies Inc.	Lockheed Martin Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Trading Companies & Distributors	Aerospace & Defense
GICS Sub-Industry	Trading Companies & Distributors	Aerospace & Defense
Market Capitalization	10.35 billion USD	131.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AIT

LMT

GSPC

Applied Industrial (AIT) vs. Lockheed Martin (LMT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Applied Industrial (AIT) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Applied Industrial (AIT) and Lockheed Martin (LMT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Total Return (1Y)	15.62%	31.17%
Total Return (3Y, Annualized)	24.49%	12.79%
Total Return (5Y, Annualized)	24.56%	14.65%

Risk Profile

Drawdown History

AIT

LMT

GSPC

Applied Industrial (AIT) vs. Lockheed Martin (LMT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Applied Industrial (AIT) and Lockheed Martin (LMT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Volatility (1Y, Annualized)	28.72%	31.09%
Beta (5Y)	0.86	0.10
Max Drawdown (5Y)	-26.42%	-31.79%
Avg. Volume (3M)	295.41K	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

AIT and LMT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Sharpe Ratio (1Y)	0.39	0.86
Sortino Ratio (1Y)	0.53	1.38

Profitability

ROE (TTM)

Both companies show strong equity returns, but Lockheed Martin (LMT) at 80.19% is the standout with ROE above its industry range; Applied Industrial (AIT) at 22.51% also sits in the top quartile.

AIT

Capital Goods industry group

22.51%

Max: 40.55%
AIT: 22.51%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

LMT

Capital Goods industry group

80.19%

LMT: 80.19%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both Applied Industrial (AIT) at 8.39% and Lockheed Martin (LMT) at 8.23% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

AIT

Capital Goods industry group

8.39%

Max: 27.47%
Q3: 12.10%
AIT: 8.39%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

LMT

Capital Goods industry group

8.23%

Max: 27.47%
Q3: 12.10%
LMT: 8.23%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both Applied Industrial (AIT) at 11.12% and Lockheed Martin (LMT) at 11.41% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

AIT

Capital Goods industry group

11.12%

Max: 36.60%
Q3: 18.33%
AIT: 11.12%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

LMT

Capital Goods industry group

11.41%

Max: 36.60%
Q3: 18.33%
LMT: 11.41%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
ROE (TTM)	22.51%	80.19%
ROA (TTM)	11.43%	8.58%
Net Margin (TTM)	8.39%	8.23%
Operating Margin (TTM)	11.12%	11.41%
Gross Margin (TTM)	30.40%	11.73%

Growth

Revenue Growth

Both Applied Industrial (AIT) at 8.84% and Lockheed Martin (LMT) at 5.64% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Lockheed Martin (LMT) reports EPS growth of -3.68%, ranked against its industry; Applied Industrial (AIT) has no EPS growth figure this period.

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Revenue Growth (YoY)	8.84%	5.64%
Revenue Growth (3Y CAGR)	4.02%	4.38%
EPS Growth (YoY)	--	-3.68%
EPS Growth (3Y CAGR)	7.40%	-0.26%

Financial Strength

Current Ratio (MRQ)

Applied Industrial (AIT) at 2.89 keeps current ratio within its industry’s typical mid-range, while Lockheed Martin (LMT) at 1.26 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for LMT.

AIT

Capital Goods industry group

2.89

Max: 5.22
Q3: 2.95
AIT: 2.89
Median: 2.08
Q1: 1.43
Min: 0.36

LMT

Capital Goods industry group

1.26

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
LMT: 1.26
Min: 0.36

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Applied Industrial (AIT) at 0.15 keeps leverage in the lower quartile, while Lockheed Martin (LMT) at 2.04 sits in the higher-leverage quartile.

AIT

Capital Goods industry group

0.15

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
AIT: 0.15
Min: 0.00

LMT

Capital Goods industry group

2.04

Max: 2.33
LMT: 2.04
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Current Ratio (MRQ)	2.89	1.26
Debt / Equity (MRQ)	0.15	2.04
Net Debt / EBITDA	0.27	1.47

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.40% delivers top-quartile income for its industry, while Applied Industrial (AIT) at 0.71% pays a more typical yield — both are credible income propositions, LMT the richer one.

AIT

Capital Goods industry group

0.71%

Max: 2.66%
Q3: 1.14%
AIT: 0.71%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

LMT

Capital Goods industry group

2.40%

Max: 2.66%
LMT: 2.40%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Applied Industrial (AIT) at 17.63% pays out a band-typical share of earnings, while Lockheed Martin (LMT) at 49.01% distributes more than its industry norm — less retained, thinner cover.

AIT

Capital Goods industry group

17.63%

Max: 67.39%
Q3: 28.02%
AIT: 17.63%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

LMT

Capital Goods industry group

49.01%

Max: 67.39%
LMT: 49.01%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
Dividend Yield (TTM)	0.71%	2.40%
Dividend Payout Ratio (TTM)	17.63%	49.01%

Valuation

P/E Ratio (TTM)

Both Applied Industrial (AIT) at 25.10 and Lockheed Martin (LMT) at 20.14 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

AIT

Capital Goods industry group

25.10

Max: 59.38
Q3: 35.92
Median: 25.41
AIT: 25.10
Q1: 19.47
Min: 3.03

LMT

Capital Goods industry group

20.14

Max: 59.38
Q3: 35.92
Median: 25.41
LMT: 20.14
Q1: 19.47
Min: 3.03

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Applied Industrial (AIT) at 2.05 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AIT

Capital Goods industry group

2.05

Max: 7.54
Q3: 3.76
Median: 2.15
AIT: 2.05
Q1: 1.03
Min: 0.03

LMT

Capital Goods industry group

1.66

Max: 7.54
Q3: 3.76
Median: 2.15
LMT: 1.66
Q1: 1.03
Min: 0.03

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Applied Industrial (AIT) at 5.50 sits in the upper P/B ratio quartile, and Lockheed Martin (LMT) at 12.96 prices even higher, above its industry range.

AIT

Capital Goods industry group

5.50

Max: 9.66
AIT: 5.50
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

LMT

Capital Goods industry group

12.96

LMT: 12.96
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Applied Industrial (AIT) vs. Lockheed Martin (LMT): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Applied Industrial (AIT) and Lockheed Martin (LMT)
Metric	AIT	LMT
P/E Ratio (TTM)	25.10	20.14
P/S Ratio (TTM)	2.05	1.66
P/B Ratio (MRQ)	5.50	12.96
Free Cash Flow Yield (TTM)	3.24%	4.31%