HON vs. LMT: Honeywell vs. Lockheed Martin Stock Comparison

November 11, 2026

How do Honeywell (HON) 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

Honeywell (HON) and Lockheed Martin (LMT) both fall under the Capital Goods industry group, but HON is classified in Industrial Conglomerates while LMT is classified in Aerospace & Defense.

Company profile comparison for Honeywell (HON) and Lockheed Martin (LMT)
Profile Item	HON	LMT
Name	Honeywell International Inc.	Lockheed Martin Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Industrial Conglomerates	Aerospace & Defense
GICS Sub-Industry	Industrial Conglomerates	Aerospace & Defense
Market Capitalization	69.74 billion USD	131.00 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 2, 1962	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HON

LMT

GSPC

Honeywell (HON) 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 Honeywell (HON) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Total Return (1Y)	14.14%	31.17%
Total Return (3Y, Annualized)	9.90%	12.79%
Total Return (5Y, Annualized)	2.32%	14.65%

Risk Profile

Drawdown History

HON

LMT

GSPC

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

Risk Metrics

Risk profile metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Volatility (1Y, Annualized)	27.11%	31.09%
Beta (5Y)	0.80	0.10
Max Drawdown (5Y)	-25.21%	-31.79%
Avg. Volume (3M)	2.82M	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

HON 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 Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Sharpe Ratio (1Y)	0.36	0.86
Sortino Ratio (1Y)	0.52	1.38

Profitability

ROE (TTM)

Both Honeywell (HON) at 44.39% and Lockheed Martin (LMT) at 80.19% 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.

HON

Capital Goods industry group

44.39%

HON: 44.39%
Max: 40.55%
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%

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

Net Margin (TTM)

Honeywell (HON) at 18.68% retains a top-quartile share of revenue as profit, ahead of Lockheed Martin (LMT) at 8.23%, which keeps about the industry-typical share.

HON

Capital Goods industry group

18.68%

Max: 27.47%
HON: 18.68%
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%

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

Operating Margin (TTM)

Both Honeywell (HON) at 16.92% and Lockheed Martin (LMT) at 11.41% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

HON

Capital Goods industry group

16.92%

Max: 36.60%
Q3: 18.33%
HON: 16.92%
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%

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

Profitability Metrics

Profitability metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
ROE (TTM)	44.39%	80.19%
ROA (TTM)	7.13%	8.58%
Net Margin (TTM)	18.68%	8.23%
Operating Margin (TTM)	16.92%	11.41%
Gross Margin (TTM)	37.21%	11.73%

Growth

Revenue Growth

Both Honeywell (HON) at 7.85% 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.

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

EPS Growth

Both Honeywell (HON) at -8.27% 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.

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

Growth Metrics

Growth metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Revenue Growth (YoY)	7.85%	5.64%
Revenue Growth (3Y CAGR)	1.82%	4.38%
EPS Growth (YoY)	-8.27%	-3.68%
EPS Growth (3Y CAGR)	3.20%	-0.26%

Financial Strength

Current Ratio (MRQ)

Both Honeywell (HON) at 0.96 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.

HON

Capital Goods industry group

0.96

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
HON: 0.96
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

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

Debt / Equity (MRQ)

Honeywell (HON) at 0.76 carries an industry-typical debt-to-equity mix, while Lockheed Martin (LMT) at 2.04 uses more debt funding than most peers.

HON

Capital Goods industry group

0.76

Max: 2.33
Q3: 1.12
HON: 0.76
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

Honeywell (HON) 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 Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Current Ratio (MRQ)	0.96	1.26
Debt / Equity (MRQ)	0.76	2.04
Net Debt / EBITDA	1.23	1.47

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.40% earns its spot in the top quartile of its industry’s yields; Honeywell (HON) at 3.63% is past the top of its own peer range — territory where a dividend-safety check matters more than the headline number.

HON

Capital Goods industry group

3.63%

HON: 3.63%
Max: 2.66%
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%

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

Dividend Payout Ratio (TTM)

Both Honeywell (HON) at 38.87% and Lockheed Martin (LMT) at 49.01% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

HON

Capital Goods industry group

38.87%

Max: 67.39%
HON: 38.87%
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%

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

Dividend Metrics

Dividend metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
Dividend Yield (TTM)	3.63%	2.40%
Dividend Payout Ratio (TTM)	38.87%	49.01%

Valuation

P/E Ratio (TTM)

Honeywell (HON) at 10.91 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 HON, though growth and earnings durability still matter.

HON

Capital Goods industry group

10.91

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
HON: 10.91
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

Honeywell (HON) 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 Honeywell (HON) at 1.85 and Lockheed Martin (LMT) at 1.66 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

HON

Capital Goods industry group

1.85

Max: 7.54
Q3: 3.76
Median: 2.15
HON: 1.85
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

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

P/B Ratio (MRQ)

Honeywell (HON) at 3.12 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.

HON

Capital Goods industry group

3.12

Max: 9.66
Q3: 5.00
HON: 3.12
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

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

Valuation Metrics

Valuation metrics for Honeywell (HON) and Lockheed Martin (LMT)
Metric	HON	LMT
P/E Ratio (TTM)	10.91	20.14
P/S Ratio (TTM)	1.85	1.66
P/B Ratio (MRQ)	3.12	12.96
Free Cash Flow Yield (TTM)	10.07%	4.31%