DOV vs. LMT: Dover vs. Lockheed Martin Stock Comparison

November 11, 2026

How do Dover (DOV) 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

Dover (DOV) and Lockheed Martin (LMT) both fall under the Capital Goods industry group, but DOV is classified in Machinery while LMT is classified in Aerospace & Defense.

Company profile comparison for Dover (DOV) and Lockheed Martin (LMT)
Profile Item	DOV	LMT
Name	Dover Corporation	Lockheed Martin Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Aerospace & Defense
GICS Sub-Industry	Industrial Machinery & Supplies & Components	Aerospace & Defense
Market Capitalization	27.11 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

DOV

LMT

GSPC

Dover (DOV) 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 Dover (DOV) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Total Return (1Y)	18.59%	31.17%
Total Return (3Y, Annualized)	18.73%	12.79%
Total Return (5Y, Annualized)	5.12%	14.65%

Risk Profile

Drawdown History

DOV

LMT

GSPC

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

Risk Metrics

Risk profile metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Volatility (1Y, Annualized)	25.76%	31.09%
Beta (5Y)	1.08	0.10
Max Drawdown (5Y)	-35.56%	-31.79%
Avg. Volume (3M)	1.21M	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

DOV 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 Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Sharpe Ratio (1Y)	0.56	0.86
Sortino Ratio (1Y)	0.81	1.38

Profitability

ROE (TTM)

Lockheed Martin (LMT) at 80.19% clears its industry range for ROE, a sharper capital-efficiency signal than Dover (DOV) at 15.20%, which is closer to a typical peer reading.

DOV

Capital Goods industry group

15.20%

Max: 40.55%
Q3: 19.29%
DOV: 15.20%
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%

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

Net Margin (TTM)

Dover (DOV) at 13.60% retains a top-quartile share of revenue as profit, ahead of Lockheed Martin (LMT) at 8.23%, which keeps about the industry-typical share.

DOV

Capital Goods industry group

13.60%

Max: 27.47%
DOV: 13.60%
Q3: 12.10%
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%

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

Operating Margin (TTM)

Dover (DOV) at 19.66% operates in the top operating margin quartile, ahead of Lockheed Martin (LMT) at 11.41%, which runs around its industry’s norm.

DOV

Capital Goods industry group

19.66%

Max: 36.60%
DOV: 19.66%
Q3: 18.33%
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%

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

Profitability Metrics

Profitability metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
ROE (TTM)	15.20%	80.19%
ROA (TTM)	7.23%	8.58%
Net Margin (TTM)	13.60%	8.23%
Operating Margin (TTM)	19.66%	11.41%
Gross Margin (TTM)	40.23%	11.73%

Growth

Revenue Growth

Both Dover (DOV) at 4.48% 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.

Dover (DOV) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Lockheed Martin (LMT) at -3.68% is around its peer norm for EPS growth, while Dover (DOV) at -59.18% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Revenue Growth (YoY)	4.48%	5.64%
Revenue Growth (3Y CAGR)	1.04%	4.38%
EPS Growth (YoY)	-59.18%	-3.68%
EPS Growth (3Y CAGR)	2.28%	-0.26%

Financial Strength

Current Ratio (MRQ)

Dover (DOV) at 1.95 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.

DOV

Capital Goods industry group

1.95

Max: 5.22
Q3: 2.95
Median: 2.08
DOV: 1.95
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

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

Debt / Equity (MRQ)

Dover (DOV) at 0.43 carries an industry-typical debt-to-equity mix, while Lockheed Martin (LMT) at 2.04 uses more debt funding than most peers.

DOV

Capital Goods industry group

0.43

Max: 2.33
Q3: 1.12
Median: 0.60
DOV: 0.43
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

Dover (DOV) 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 Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Current Ratio (MRQ)	1.95	1.26
Debt / Equity (MRQ)	0.43	2.04
Net Debt / EBITDA	0.80	1.47

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.40% delivers top-quartile income for its industry, while Dover (DOV) at 1.03% pays a more typical yield — both are credible income propositions, LMT the richer one.

DOV

Capital Goods industry group

1.03%

Max: 2.66%
Q3: 1.14%
DOV: 1.03%
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%

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

Dividend Payout Ratio (TTM)

Dover (DOV) at 24.33% 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.

DOV

Capital Goods industry group

24.33%

Max: 67.39%
Q3: 28.02%
DOV: 24.33%
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%

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

Dividend Metrics

Dividend metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
Dividend Yield (TTM)	1.03%	2.40%
Dividend Payout Ratio (TTM)	24.33%	49.01%

Valuation

P/E Ratio (TTM)

Both Dover (DOV) at 23.79 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.

DOV

Capital Goods industry group

23.79

Max: 59.38
Q3: 35.92
Median: 25.41
DOV: 23.79
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

Dover (DOV) 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 Dover (DOV) at 3.16 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

DOV

Capital Goods industry group

3.16

Max: 7.54
Q3: 3.76
DOV: 3.16
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

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

P/B Ratio (MRQ)

Dover (DOV) at 3.55 sits near its industry’s typical P/B ratio, while Lockheed Martin (LMT) at 12.96 prices above its benchmark range — LMT looks rich relative to book.

DOV

Capital Goods industry group

3.55

Max: 9.66
Q3: 5.00
DOV: 3.55
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

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

Valuation Metrics

Valuation metrics for Dover (DOV) and Lockheed Martin (LMT)
Metric	DOV	LMT
P/E Ratio (TTM)	23.79	20.14
P/S Ratio (TTM)	3.16	1.66
P/B Ratio (MRQ)	3.55	12.96
Free Cash Flow Yield (TTM)	3.18%	4.31%