GD vs. LMT: General Dynamics vs. Lockheed Martin Stock Comparison

November 11, 2026

How do General Dynamics (GD) 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

General Dynamics (GD) 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 General Dynamics (GD) and Lockheed Martin (LMT)
Profile Item	GD	LMT
Name	General Dynamics Corp.	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	95.68 billion USD	131.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LMT

GSPC

General Dynamics (GD) 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

Loading price history…

Trailing total returns for General Dynamics (GD) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

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

Performance Metrics

Price performance metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Total Return (1Y)	6.52%	31.17%
Total Return (3Y, Annualized)	16.95%	12.79%
Total Return (5Y, Annualized)	14.65%	14.65%

Risk Profile

Drawdown History

LMT

GSPC

General Dynamics (GD) 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

Loading price history…

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

Risk Metrics

Risk profile metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Volatility (1Y, Annualized)	23.03%	31.09%
Beta (5Y)	0.30	0.10
Max Drawdown (5Y)	-22.55%	-31.79%
Avg. Volume (3M)	1.19M	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

GD 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 General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Sharpe Ratio (1Y)	0.10	0.86
Sortino Ratio (1Y)	0.15	1.38

Profitability

ROE (TTM)

Lockheed Martin (LMT) at 80.19% clears its industry range for ROE, a sharper capital-efficiency signal than General Dynamics (GD) at 18.01%, which is closer to a typical peer reading.

GD

Capital Goods industry group

18.01%

Max: 40.55%
Q3: 19.29%
GD: 18.01%
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%

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

Net Margin (TTM)

Both General Dynamics (GD) at 8.24% 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.

GD

Capital Goods industry group

8.24%

Max: 27.47%
Q3: 12.10%
GD: 8.24%
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%

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

Operating Margin (TTM)

Both General Dynamics (GD) at 10.49% and Lockheed Martin (LMT) at 11.41% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

GD

Capital Goods industry group

10.49%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
GD: 10.49%
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%

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

Profitability Metrics

Profitability metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
ROE (TTM)	18.01%	80.19%
ROA (TTM)	6.23%	8.58%
Net Margin (TTM)	8.24%	8.23%
Operating Margin (TTM)	10.49%	11.41%
Gross Margin (TTM)	15.42%	11.73%

Growth

Revenue Growth

Both General Dynamics (GD) at 10.13% 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.

General Dynamics (GD) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both General Dynamics (GD) at 13.35% 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.

General Dynamics (GD) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Revenue Growth (YoY)	10.13%	5.64%
Revenue Growth (3Y CAGR)	10.07%	4.38%
EPS Growth (YoY)	13.35%	-3.68%
EPS Growth (3Y CAGR)	8.22%	-0.26%

Financial Strength

Current Ratio (MRQ)

Both General Dynamics (GD) at 1.43 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.

GD

Capital Goods industry group

1.43

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
GD: 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

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

Debt / Equity (MRQ)

General Dynamics (GD) at 0.33 carries an industry-typical debt-to-equity mix, while Lockheed Martin (LMT) at 2.04 uses more debt funding than most peers.

GD

Capital Goods industry group

0.33

Max: 2.33
Q3: 1.12
Median: 0.60
GD: 0.33
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

General Dynamics (GD) 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 General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Current Ratio (MRQ)	1.43	1.26
Debt / Equity (MRQ)	0.33	2.04
Net Debt / EBITDA	0.68	1.47

Dividends

Dividend Yield (TTM)

Both General Dynamics (GD) at 1.76% and Lockheed Martin (LMT) at 2.40% offer top-quartile dividend income relative to share price within their industries.

GD

Capital Goods industry group

1.76%

Max: 2.66%
GD: 1.76%
Q3: 1.14%
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%

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

Dividend Payout Ratio (TTM)

Both General Dynamics (GD) at 36.90% and Lockheed Martin (LMT) at 49.01% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

GD

Capital Goods industry group

36.90%

Max: 67.39%
GD: 36.90%
Q3: 28.02%
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%

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

Dividend Metrics

Dividend metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
Dividend Yield (TTM)	1.76%	2.40%
Dividend Payout Ratio (TTM)	36.90%	49.01%

Valuation

P/E Ratio (TTM)

Both General Dynamics (GD) at 20.84 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.

GD

Capital Goods industry group

20.84

Max: 59.38
Q3: 35.92
Median: 25.41
GD: 20.84
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

General Dynamics (GD) 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 General Dynamics (GD) at 1.69 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

GD

Capital Goods industry group

1.69

Max: 7.54
Q3: 3.76
Median: 2.15
GD: 1.69
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

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

P/B Ratio (MRQ)

General Dynamics (GD) at 3.50 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.

GD

Capital Goods industry group

3.50

Max: 9.66
Q3: 5.00
GD: 3.50
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

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

Valuation Metrics

Valuation metrics for General Dynamics (GD) and Lockheed Martin (LMT)
Metric	GD	LMT
P/E Ratio (TTM)	20.84	20.14
P/S Ratio (TTM)	1.69	1.66
P/B Ratio (MRQ)	3.50	12.96
Free Cash Flow Yield (TTM)	4.76%	4.31%