HWM vs. LMT: Howmet Aerospace vs. Lockheed Martin Stock Comparison

November 11, 2026

How do Howmet Aerospace (HWM) 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

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Profile Item	HWM	LMT
Name	Howmet Aerospace 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	81.84 billion USD	131.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 1, 2016	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HWM

LMT

GSPC

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Lockheed Martin (LMT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Total Return (1Y)	5.06%	31.17%
Total Return (3Y, Annualized)	64.83%	12.79%
Total Return (5Y, Annualized)	46.04%	14.65%

Risk Profile

Drawdown History

HWM

LMT

GSPC

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

Risk Metrics

Risk profile metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Volatility (1Y, Annualized)	37.60%	31.09%
Beta (5Y)	1.27	0.10
Max Drawdown (5Y)	-36.47%	-31.79%
Avg. Volume (3M)	3.47M	1.29M

Risk-Adjusted Performance

Risk-Return Positioning

HWM 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 Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Sharpe Ratio (1Y)	0.02	0.86
Sortino Ratio (1Y)	0.03	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; Howmet Aerospace (HWM) at 37.65% also sits in the top quartile.

HWM

Capital Goods industry group

37.65%

Max: 40.55%
HWM: 37.65%
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%

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

Net Margin (TTM)

Howmet Aerospace (HWM) at 21.10% retains a top-quartile share of revenue as profit, ahead of Lockheed Martin (LMT) at 8.23%, which keeps about the industry-typical share.

HWM

Capital Goods industry group

21.10%

Max: 27.47%
HWM: 21.10%
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%

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

Operating Margin (TTM)

Howmet Aerospace (HWM) at 28.78% operates in the top operating margin quartile, ahead of Lockheed Martin (LMT) at 11.41%, which runs around its industry’s norm.

HWM

Capital Goods industry group

28.78%

Max: 36.60%
HWM: 28.78%
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%

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

Profitability Metrics

Profitability metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
ROE (TTM)	37.65%	80.19%
ROA (TTM)	13.97%	8.58%
Net Margin (TTM)	21.10%	8.23%
Operating Margin (TTM)	28.78%	11.41%
Gross Margin (TTM)	36.63%	11.73%

Growth

Revenue Growth

Both Howmet Aerospace (HWM) at 11.06% 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.

Howmet Aerospace (HWM) vs. Lockheed Martin (LMT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Howmet Aerospace (HWM) at 32.03% sits in the top EPS growth quartile, while Lockheed Martin (LMT) at -3.68% is closer to the peer norm — faster per-share earnings growth for HWM.

Howmet Aerospace (HWM) vs. Lockheed Martin (LMT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Revenue Growth (YoY)	11.06%	5.64%
Revenue Growth (3Y CAGR)	13.37%	4.38%
EPS Growth (YoY)	32.03%	-3.68%
EPS Growth (3Y CAGR)	49.51%	-0.26%

Financial Strength

Current Ratio (MRQ)

Howmet Aerospace (HWM) at 1.86 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.

HWM

Capital Goods industry group

1.86

Max: 5.22
Q3: 2.95
Median: 2.08
HWM: 1.86
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

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

Debt / Equity (MRQ)

Howmet Aerospace (HWM) at 0.80 carries an industry-typical debt-to-equity mix, while Lockheed Martin (LMT) at 2.04 uses more debt funding than most peers.

HWM

Capital Goods industry group

0.80

Max: 2.33
Q3: 1.12
HWM: 0.80
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

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Current Ratio (MRQ)	1.86	1.26
Debt / Equity (MRQ)	0.80	2.04
Net Debt / EBITDA	1.35	1.47

Dividends

Dividend Yield (TTM)

Lockheed Martin (LMT) at 2.40% delivers top-quartile income for its industry, while Howmet Aerospace (HWM) at 0.25% pays a more typical yield — both are credible income propositions, LMT the richer one.

HWM

Capital Goods industry group

0.25%

Max: 2.66%
Q3: 1.14%
HWM: 0.25%
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%

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

Dividend Payout Ratio (TTM)

Howmet Aerospace (HWM) at 9.80% 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.

HWM

Capital Goods industry group

9.80%

Max: 67.39%
Q3: 28.02%
HWM: 9.80%
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%

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

Dividend Metrics

Dividend metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
Dividend Yield (TTM)	0.25%	2.40%
Dividend Payout Ratio (TTM)	9.80%	49.01%

Valuation

P/E Ratio (TTM)

Lockheed Martin (LMT) at 20.14 is near its industry’s usual P/E ratio, while Howmet Aerospace (HWM) at 40.35 sits in the richer quartile — HWM needs stronger growth or earnings quality to justify the premium.

HWM

Capital Goods industry group

40.35

Max: 59.38
HWM: 40.35
Q3: 35.92
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

Howmet Aerospace (HWM) 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 1.66 prices around its industry’s typical P/S ratio, while Howmet Aerospace (HWM) at 8.41 clears its benchmark range — HWM looks notably rich on sales.

HWM

Capital Goods industry group

8.41

HWM: 8.41
Max: 7.54
Q3: 3.76
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

Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) at 14.20 and Lockheed Martin (LMT) at 12.96 look expensive — each P/B ratio sits above its industry’s benchmark range.

HWM

Capital Goods industry group

14.20

HWM: 14.20
Max: 9.66
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

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

Valuation Metrics

Valuation metrics for Howmet Aerospace (HWM) and Lockheed Martin (LMT)
Metric	HWM	LMT
P/E Ratio (TTM)	40.35	20.14
P/S Ratio (TTM)	8.41	1.66
P/B Ratio (MRQ)	14.20	12.96
Free Cash Flow Yield (TTM)	1.58%	4.31%