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BA vs. LMT: Boeing vs. Lockheed Martin Stock Comparison

How do Boeing (BA) 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

Boeing (BA) and Lockheed Martin (LMT) are both classified in the Aerospace & Defense sub-industry within the broader Aerospace & Defense industry, placing them in the closest GICS peer bucket.

Company profile comparison for Boeing (BA) and Lockheed Martin (LMT)
Profile ItemBALMT
NameThe Boeing CompanyLockheed Martin Corporation
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCapital GoodsCapital Goods
GICS IndustryAerospace & DefenseAerospace & Defense
GICS Sub-IndustryAerospace & DefenseAerospace & Defense
Market Capitalization137.41 billion USD131.00 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateJanuary 2, 1962January 2, 1962
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

BA
LMT
GSPC
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Boeing (BA) 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 Boeing (BA) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Total Return (1Y)-10.22%31.17%
Total Return (3Y, Annualized)-3.32%12.79%
Total Return (5Y, Annualized)-4.57%14.65%

Risk Profile

Drawdown History

BA
LMT
GSPC
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Boeing (BA) 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 Boeing (BA) and Lockheed Martin (LMT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Boeing (BA) has an aggressive beta of 1.31, indicating higher sensitivity to broad-market moves, while Lockheed Martin (LMT) is defensive at 0.10 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Volatility (1Y, Annualized)35.25%31.09%
Beta (5Y)1.310.10
Max Drawdown (5Y)-50.29%-31.79%
Avg. Volume (3M)7.77M1.29M

Risk-Adjusted Performance

Risk-Return Positioning

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BA 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 Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Sharpe Ratio (1Y)-0.410.86
Sortino Ratio (1Y)-0.601.38

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Lockheed Martin (LMT) earns 80.19% on shareholders’ equity, ranked against its industry; Boeing (BA) has no ROE this period.

BA

Capital Goods industry group

--

Max
40.55%
Q3
19.29%
Median
12.12%
Q1
4.08%
Min
-17.12%
BA
--

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%
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Boeing (BA) vs. Lockheed Martin (LMT): BA does not report ROE, so it has no value marker; LMT is benchmarked against the Capital Goods industry group.

Net Margin (TTM)

Both Boeing (BA) at 8.07% 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.

BA

Capital Goods industry group

8.07%

Max
27.47%
Q3
12.10%
BA
8.07%
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%
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Lockheed Martin (LMT) at 11.41% runs core operations around its industry’s norm, while Boeing (BA) at 0.30% operates in the bottom quartile.

BA

Capital Goods industry group

0.30%

Max
36.60%
Q3
18.33%
Median
11.12%
Q1
5.14%
BA
0.30%
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%
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
ROE (TTM)--80.19%
ROA (TTM)-0.11%8.58%
Net Margin (TTM)8.07%8.23%
Operating Margin (TTM)0.30%11.41%
Gross Margin (TTM)9.45%11.73%

Growth

Revenue Growth

Boeing (BA) at 34.50% sits in the top revenue growth quartile, while Lockheed Martin (LMT) at 5.64% is closer to the peer norm — faster top-line expansion for BA.

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Boeing (BA) 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; Boeing (BA) has no EPS growth figure this period.

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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Revenue Growth (YoY)34.50%5.64%
Revenue Growth (3Y CAGR)10.33%4.38%
EPS Growth (YoY)---3.68%
EPS Growth (3Y CAGR)---0.26%

Financial Strength

Current Ratio (MRQ)

Both Boeing (BA) at 1.13 and Lockheed Martin (LMT) at 1.26 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

BA

Capital Goods industry group

1.13

Max
5.22
Q3
2.95
Median
2.08
Q1
1.43
BA
1.13
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
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both balance sheets lean debt-heavy versus peers, but BA is more stretched: Lockheed Martin (LMT) at 2.04 sits in the higher-leverage quartile and Boeing (BA) at 7.39 is above its industry benchmark range.

BA

Capital Goods industry group

7.39

BA
7.39
Max
2.33
Q3
1.12
Median
0.60
Q1
0.29
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
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Boeing (BA) 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 Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Current Ratio (MRQ)1.131.26
Debt / Equity (MRQ)7.392.04
Net Debt / EBITDA13.811.47

Dividends

Dividend Yield (TTM)

Boeing (BA) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lockheed Martin (LMT) reports a yield of 2.40%, ranking against industry peers normally.

BA

Capital Goods industry group

0.00%

Max
2.66%
Q3
1.14%
Median
0.24%
BA
0.00%
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%
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Boeing (BA) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lockheed Martin (LMT) reports a payout of 49.01%, ranking against industry peers normally.

BA

Capital Goods industry group

0.00%

Max
67.39%
Q3
28.02%
Median
6.86%
BA
0.00%
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%
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
Dividend Yield (TTM)0.00%2.40%
Dividend Payout Ratio (TTM)0.00%49.01%

Valuation

P/E Ratio (TTM)

Boeing (BA) at 17.89 sits in the cheaper P/E ratio quartile, while Lockheed Martin (LMT) at 20.14 is closer to its industry’s usual earnings multiple — a discount for BA, though growth and earnings durability still matter.

BA

Capital Goods industry group

17.89

Max
59.38
Q3
35.92
Median
25.41
Q1
19.47
BA
17.89
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
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Boeing (BA) 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 Boeing (BA) at 1.45 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

BA

Capital Goods industry group

1.45

Max
7.54
Q3
3.76
Median
2.15
BA
1.45
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
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Measured against book value, both Boeing (BA) at 20.99 and Lockheed Martin (LMT) at 12.96 look expensive — each P/B ratio sits above its industry’s benchmark range.

BA

Capital Goods industry group

20.99

BA
20.99
Max
9.66
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
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Boeing (BA) vs. Lockheed Martin (LMT): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Boeing (BA) and Lockheed Martin (LMT)
MetricBALMT
P/E Ratio (TTM)17.8920.14
P/S Ratio (TTM)1.451.66
P/B Ratio (MRQ)20.9912.96
Free Cash Flow Yield (TTM)3.44%4.31%