BWXT vs. LMT: BWX Technologies vs. Lockheed Martin Stock Comparison

November 11, 2026

How do BWX Technologies (BWXT) 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

BWX Technologies (BWXT) 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 BWX Technologies (BWXT) and Lockheed Martin (LMT)
Profile Item	BWXT	LMT
Name	BWX Technologies, Inc.	Lockheed Martin Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Aerospace & Defense	Aerospace & Defense
GICS Sub-Industry	Aerospace & Defense	Aerospace & Defense
Market Capitalization	10.95 billion USD	131.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 2, 2010	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BWXT

LMT

GSPC

BWX Technologies (BWXT) 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 BWX Technologies (BWXT) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Total Return (1Y)	-33.33%	31.17%
Total Return (3Y, Annualized)	20.43%	12.79%
Total Return (5Y, Annualized)	20.57%	14.65%

Risk Profile

Drawdown History

BWXT

LMT

GSPC

BWX Technologies (BWXT) 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 BWX Technologies (BWXT) and Lockheed Martin (LMT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Volatility (1Y, Annualized)	45.97%	31.09%
Beta (5Y)	0.73	0.10
Max Drawdown (5Y)	-51.64%	-31.79%
Avg. Volume (3M)	1.19M	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

BWXT 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 BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Sharpe Ratio (1Y)	-0.82	0.86
Sortino Ratio (1Y)	-1.11	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; BWX Technologies (BWXT) at 28.27% also sits in the top quartile.

BWXT

Capital Goods industry group

28.27%

Max: 40.55%
BWXT: 28.27%
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%

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both BWX Technologies (BWXT) at 10.41% 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.

BWXT

Capital Goods industry group

10.41%

Max: 27.47%
Q3: 12.10%
BWXT: 10.41%
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%

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both BWX Technologies (BWXT) at 11.55% and Lockheed Martin (LMT) at 11.41% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

BWXT

Capital Goods industry group

11.55%

Max: 36.60%
Q3: 18.33%
BWXT: 11.55%
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%

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
ROE (TTM)	28.27%	80.19%
ROA (TTM)	5.49%	8.58%
Net Margin (TTM)	10.41%	8.23%
Operating Margin (TTM)	11.55%	11.41%
Gross Margin (TTM)	22.61%	11.73%

Growth

Revenue Growth

Both BWX Technologies (BWXT) at 18.30% 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.

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both BWX Technologies (BWXT) at 16.61% and Lockheed Martin (LMT) at -3.68% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Revenue Growth (YoY)	18.30%	5.64%
Revenue Growth (3Y CAGR)	12.73%	4.38%
EPS Growth (YoY)	16.61%	-3.68%
EPS Growth (3Y CAGR)	11.25%	-0.26%

Financial Strength

Current Ratio (MRQ)

BWX Technologies (BWXT) at 1.88 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.

BWXT

Capital Goods industry group

1.88

Max: 5.22
Q3: 2.95
Median: 2.08
BWXT: 1.88
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

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both BWX Technologies (BWXT) at 1.43 and Lockheed Martin (LMT) at 2.04 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

BWXT

Capital Goods industry group

1.43

Max: 2.33
BWXT: 1.43
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

BWX Technologies (BWXT) 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 BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Current Ratio (MRQ)	1.88	1.26
Debt / Equity (MRQ)	1.43	2.04
Net Debt / EBITDA	2.92	1.47

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.40% delivers top-quartile income for its industry, while BWX Technologies (BWXT) at 0.92% pays a more typical yield — both are credible income propositions, LMT the richer one.

BWXT

Capital Goods industry group

0.92%

Max: 2.66%
Q3: 1.14%
BWXT: 0.92%
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%

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

BWX Technologies (BWXT) at 26.04% 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.

BWXT

Capital Goods industry group

26.04%

Max: 67.39%
Q3: 28.02%
BWXT: 26.04%
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%

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
Dividend Yield (TTM)	0.92%	2.40%
Dividend Payout Ratio (TTM)	26.04%	49.01%

Valuation

P/E Ratio (TTM)

Both BWX Technologies (BWXT) at 29.37 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.

BWXT

Capital Goods industry group

29.37

Max: 59.38
Q3: 35.92
BWXT: 29.37
Median: 25.41
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

BWX Technologies (BWXT) 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 BWX Technologies (BWXT) at 3.04 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

BWXT

Capital Goods industry group

3.04

Max: 7.54
Q3: 3.76
BWXT: 3.04
Median: 2.15
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

BWX Technologies (BWXT) 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: BWX Technologies (BWXT) at 7.72 sits in the upper P/B ratio quartile, and Lockheed Martin (LMT) at 12.96 prices even higher, above its industry range.

BWXT

Capital Goods industry group

7.72

Max: 9.66
BWXT: 7.72
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

BWX Technologies (BWXT) vs. Lockheed Martin (LMT): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for BWX Technologies (BWXT) and Lockheed Martin (LMT)
Metric	BWXT	LMT
P/E Ratio (TTM)	29.37	20.14
P/S Ratio (TTM)	3.04	1.66
P/B Ratio (MRQ)	7.72	12.96
Free Cash Flow Yield (TTM)	2.64%	4.31%