GEV vs. LMT: GE Vernova vs. Lockheed Martin Stock Comparison

September 14, 2026

How do GE Vernova (GEV) 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

GE Vernova (GEV) and Lockheed Martin (LMT) both fall under the Capital Goods industry group, but GEV is classified in Electrical Equipment while LMT is classified in Aerospace & Defense.

Lockheed Martin (LMT) carries decades of public-market history since January 2, 1962, while GE Vernova (GEV) listed on March 27, 2024 — long-window comparisons have far more historical data on the LMT side.

Company profile comparison for GE Vernova (GEV) and Lockheed Martin (LMT)
Profile Item	GEV	LMT
Name	GE Vernova Inc.	Lockheed Martin Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Electrical Equipment	Aerospace & Defense
GICS Sub-Industry	Heavy Electrical Equipment	Aerospace & Defense
Market Capitalization	254.95 billion USD	120.98 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 27, 2024	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

GEV

LMT

GSPC

GE Vernova (GEV) 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 GE Vernova (GEV) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Total Return (1Y)	51.30%	14.23%
Total Return (3Y, Annualized)	--	10.52%
Total Return (5Y, Annualized)	--	11.62%

Risk Profile

Drawdown History

GEV

LMT

GSPC

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

Risk Metrics

Risk profile metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Volatility (1Y, Annualized)	51.91%	28.23%
Beta (5Y)	0.96	0.08
Max Drawdown (5Y)	-38.29%	-31.79%
Avg. Volume (3M)	2.60M	1.21M

Risk-Adjusted Performance

Risk-Return Positioning

GEV 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 GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Sharpe Ratio (1Y)	0.91	0.36
Sortino Ratio (1Y)	1.41	0.56

Profitability

ROE (TTM)

Both GE Vernova (GEV) at 82.58% and Lockheed Martin (LMT) at 89.17% turn shareholders’ equity into profit at rates above their industry benchmark ranges for ROE. That is a strong capital-efficiency signal, though leverage and the equity base still matter.

GEV

Capital Goods industry group

82.58%

GEV: 82.58%
Max: 40.35%
Q3: 18.69%
Median: 11.55%
Q1: 2.89%
Min: -19.86%

LMT

Capital Goods industry group

89.17%

LMT: 89.17%
Max: 40.35%
Q3: 18.69%
Median: 11.55%
Q1: 2.89%
Min: -19.86%

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

Net Margin (TTM)

GE Vernova (GEV) at 23.04% retains a top-quartile share of revenue as profit, ahead of Lockheed Martin (LMT) at 8.16%, which keeps about the industry-typical share.

GEV

Capital Goods industry group

23.04%

Max: 27.47%
GEV: 23.04%
Q3: 11.71%
Median: 5.78%
Q1: 0.77%
Min: -14.15%

LMT

Capital Goods industry group

8.16%

Max: 27.47%
Q3: 11.71%
LMT: 8.16%
Median: 5.78%
Q1: 0.77%
Min: -14.15%

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

Operating Margin (TTM)

Both GE Vernova (GEV) at 7.47% and Lockheed Martin (LMT) at 11.96% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

GEV

Capital Goods industry group

7.47%

Max: 35.46%
Q3: 17.39%
Median: 10.58%
GEV: 7.47%
Q1: 4.59%
Min: -12.63%

LMT

Capital Goods industry group

11.96%

Max: 35.46%
Q3: 17.39%
LMT: 11.96%
Median: 10.58%
Q1: 4.59%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
ROE (TTM)	82.58%	89.17%
ROA (TTM)	2.54%	8.64%
Net Margin (TTM)	23.04%	8.16%
Operating Margin (TTM)	7.47%	11.96%
Gross Margin (TTM)	20.57%	11.80%

Growth

Revenue Growth

Both GE Vernova (GEV) at 8.97% 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.

GE Vernova (GEV) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

GE Vernova (GEV) at 217.03% clears its industry range for EPS growth, a much stronger earnings trajectory than Lockheed Martin (LMT) at -3.68%, which is closer to a typical peer reading.

GE Vernova (GEV) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Revenue Growth (YoY)	8.97%	5.64%
Revenue Growth (3Y CAGR)	8.68%	4.38%
EPS Growth (YoY)	217.03%	-3.68%
EPS Growth (3Y CAGR)	--	-0.26%

Financial Strength

Current Ratio (MRQ)

Both GE Vernova (GEV) at 0.85 and Lockheed Martin (LMT) at 1.19 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

GEV

Capital Goods industry group

0.85

Max: 5.28
Q3: 2.99
Median: 2.09
Q1: 1.45
GEV: 0.85
Min: 0.76

LMT

Capital Goods industry group

1.19

Max: 5.28
Q3: 2.99
Median: 2.09
Q1: 1.45
LMT: 1.19
Min: 0.76

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

Debt / Equity (MRQ)

GE Vernova (GEV) at 0.28 is near its industry mid-range for debt-to-equity ratio, while Lockheed Martin (LMT) at 2.34 sits above its benchmark range, pointing to a heavier debt load relative to equity.

GEV

Capital Goods industry group

0.28

Max: 2.15
Q3: 1.09
Median: 0.57
GEV: 0.28
Q1: 0.27
Min: 0.00

LMT

Capital Goods industry group

2.34

LMT: 2.34
Max: 2.15
Q3: 1.09
Median: 0.57
Q1: 0.27
Min: 0.00

GE Vernova (GEV) 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 GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Current Ratio (MRQ)	0.85	1.19
Debt / Equity (MRQ)	0.28	2.34
Net Debt / EBITDA	-2.29	1.73

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.57% delivers top-quartile income for its industry, while GE Vernova (GEV) at 0.19% pays a more typical yield — both are credible income propositions, LMT the richer one.

GEV

Capital Goods industry group

0.19%

Max: 2.75%
Q3: 1.11%
GEV: 0.19%
Median: 0.18%
Q1: 0.00%
Min: 0.00%

LMT

Capital Goods industry group

2.57%

Max: 2.75%
LMT: 2.57%
Q3: 1.11%
Median: 0.18%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

GE Vernova (GEV) at 5.73% pays out a band-typical share of earnings, while Lockheed Martin (LMT) at 50.33% distributes more than its industry norm — less retained, thinner cover.

GEV

Capital Goods industry group

5.73%

Max: 72.00%
Q3: 28.86%
Median: 6.13%
GEV: 5.73%
Q1: 0.00%
Min: 0.00%

LMT

Capital Goods industry group

50.33%

Max: 72.00%
LMT: 50.33%
Q3: 28.86%
Median: 6.13%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
Dividend Yield (TTM)	0.19%	2.57%
Dividend Payout Ratio (TTM)	5.73%	50.33%

Valuation

P/E Ratio (TTM)

Lockheed Martin (LMT) at 19.34 sits in the cheaper P/E ratio quartile, while GE Vernova (GEV) at 27.48 is closer to its industry’s usual earnings multiple — a discount for LMT, though growth and earnings durability still matter.

GEV

Capital Goods industry group

27.48

Max: 66.10
Q3: 40.43
Median: 29.30
GEV: 27.48
Q1: 21.19
Min: 1.09

LMT

Capital Goods industry group

19.34

Max: 66.10
Q3: 40.43
Median: 29.30
Q1: 21.19
LMT: 19.34
Min: 1.09

GE Vernova (GEV) vs. Lockheed Martin (LMT): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Lockheed Martin (LMT) at 1.57 is priced about in line with its industry on P/S ratio, while GE Vernova (GEV) at 6.16 sits in the pricier quartile — GEV costs more per dollar of sales.

GEV

Capital Goods industry group

6.16

Max: 9.06
GEV: 6.16
Q3: 4.40
Median: 2.41
Q1: 1.19
Min: 0.05

LMT

Capital Goods industry group

1.57

Max: 9.06
Q3: 4.40
Median: 2.41
LMT: 1.57
Q1: 1.19
Min: 0.05

GE Vernova (GEV) 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 GE Vernova (GEV) at 21.32 and Lockheed Martin (LMT) at 13.75 look expensive — each P/B ratio sits above its industry’s benchmark range.

GEV

Capital Goods industry group

21.32

GEV: 21.32
Max: 11.10
Q3: 5.63
Median: 3.31
Q1: 1.94
Min: -3.52

LMT

Capital Goods industry group

13.75

LMT: 13.75
Max: 11.10
Q3: 5.63
Median: 3.31
Q1: 1.94
Min: -3.52

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

Valuation Metrics

Valuation metrics for GE Vernova (GEV) and Lockheed Martin (LMT)
Metric	GEV	LMT
P/E Ratio (TTM)	27.48	19.34
P/S Ratio (TTM)	6.16	1.57
P/B Ratio (MRQ)	21.32	13.75
Free Cash Flow Yield (TTM)	6.17%	4.60%