LMT vs. UAL: A Head-to-Head Stock Comparison

Updated on November 21, 2025

Here’s a clear look at LMT and UAL, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Symbol	LMT	UAL
Company Name	Lockheed Martin Corporation	United Airlines Holdings, Inc.
Country	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry	Aerospace & Defense	Passenger Airlines
Market Capitalization	109.35 billion USD	29.97 billion USD
Exchange	NYSE	NasdaqGS
Listing Date	January 2, 1962	February 6, 2006
Security Type	Common Stock	Common Stock

Historical Performance

This chart compares the performance of LMT and UAL by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

LMT vs. UAL: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	LMT	UAL
5-Day Price Return	3.02%	-1.15%
13-Week Price Return	6.45%	-5.85%
26-Week Price Return	1.29%	15.05%
52-Week Price Return	-16.49%	5.85%
Month-to-Date Return	-5.31%	1.05%
Year-to-Date Return	-4.15%	-2.13%
10-Day Avg. Volume	1.32M	5.56M
3-Month Avg. Volume	1.56M	6.15M
3-Month Volatility	16.93%	39.74%
Beta	0.26	1.36

Profitability

Return on Equity (TTM)

LMT

68.48%

Aerospace & Defense Industry

Max: 43.89%
Q3: 23.64%
Median: 12.98%
Q1: 8.07%
Min: -2.55%

LMT’s Return on Equity of 68.48% is exceptionally high, placing it well beyond the typical range for the Aerospace & Defense industry. This demonstrates a superior ability to generate profit from shareholder investments, though it could also be inflated by high financial leverage.

UAL

24.87%

Passenger Airlines Industry

Max: 51.60%
Q3: 26.80%
Median: 15.05%
Q1: 3.96%
Min: -19.21%

UAL’s Return on Equity of 24.87% is on par with the norm for the Passenger Airlines industry, indicating its profitability relative to shareholder equity is typical for the sector.

LMT vs. UAL: A comparison of their Return on Equity (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Net Profit Margin (TTM)

LMT

5.73%

Aerospace & Defense Industry

Max: 14.96%
Q3: 9.50%
Median: 6.59%
Q1: 4.45%
Min: 1.01%

LMT’s Net Profit Margin of 5.73% is aligned with the median group of its peers in the Aerospace & Defense industry. This indicates its ability to convert revenue into profit is typical for the sector.

UAL

5.64%

Passenger Airlines Industry

Max: 18.35%
Q3: 8.99%
Median: 6.30%
Q1: 2.19%
Min: -5.16%

UAL’s Net Profit Margin of 5.64% is aligned with the median group of its peers in the Passenger Airlines industry. This indicates its ability to convert revenue into profit is typical for the sector.

LMT vs. UAL: A comparison of their Net Profit Margin (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Operating Profit Margin (TTM)

LMT

8.31%

Aerospace & Defense Industry

Max: 17.97%
Q3: 12.09%
Median: 9.29%
Q1: 6.41%
Min: -1.59%

LMT’s Operating Profit Margin of 8.31% is around the midpoint for the Aerospace & Defense industry, indicating that its efficiency in managing core business operations is typical for the sector.

UAL

8.27%

Passenger Airlines Industry

Max: 22.11%
Q3: 12.67%
Median: 8.27%
Q1: 4.07%
Min: -2.77%

UAL’s Operating Profit Margin of 8.27% is around the midpoint for the Passenger Airlines industry, indicating that its efficiency in managing core business operations is typical for the sector.

LMT vs. UAL: A comparison of their Operating Profit Margin (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Profitability at a Glance

Symbol	LMT	UAL
Return on Equity (TTM)	68.48%	24.87%
Return on Assets (TTM)	7.26%	4.34%
Net Profit Margin (TTM)	5.73%	5.64%
Operating Profit Margin (TTM)	8.31%	8.27%
Gross Profit Margin (TTM)	8.25%	64.08%

Financial Strength

Current Ratio (MRQ)

LMT

1.13

Aerospace & Defense Industry

Max: 3.37
Q3: 2.01
Median: 1.22
Q1: 1.07
Min: 0.68

LMT’s Current Ratio of 1.13 aligns with the median group of the Aerospace & Defense industry, indicating that its short-term liquidity is in line with its sector peers.

UAL

0.67

Passenger Airlines Industry

Max: 1.46
Q3: 0.91
Median: 0.68
Q1: 0.51
Min: 0.19

UAL’s Current Ratio of 0.67 aligns with the median group of the Passenger Airlines industry, indicating that its short-term liquidity is in line with its sector peers.

LMT vs. UAL: A comparison of their Current Ratio (MRQ) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Debt-to-Equity Ratio (MRQ)

LMT

3.59

Aerospace & Defense Industry

Max: 1.89
Q3: 0.99
Median: 0.63
Q1: 0.39
Min: 0.03

With a Debt-to-Equity Ratio of 3.59, LMT operates with exceptionally high leverage compared to the Aerospace & Defense industry norm. This suggests an aggressive reliance on debt financing, which can magnify returns but also significantly elevates financial risk.

UAL

1.78

Passenger Airlines Industry

Max: 10.23
Q3: 4.67
Median: 1.26
Q1: 0.81
Min: 0.00

UAL’s Debt-to-Equity Ratio of 1.78 is typical for the Passenger Airlines industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

LMT vs. UAL: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Interest Coverage Ratio (TTM)

LMT

7.49

Aerospace & Defense Industry

Max: 29.86
Q3: 19.49
Median: 7.09
Q1: 2.62
Min: -7.63

LMT’s Interest Coverage Ratio of 7.49 is positioned comfortably within the norm for the Aerospace & Defense industry, indicating a standard and healthy capacity to cover its interest payments.

UAL

5.76

Passenger Airlines Industry

Max: 22.60
Q3: 17.27
Median: 6.75
Q1: 1.94
Min: -8.55

UAL’s Interest Coverage Ratio of 5.76 is positioned comfortably within the norm for the Passenger Airlines industry, indicating a standard and healthy capacity to cover its interest payments.

LMT vs. UAL: A comparison of their Interest Coverage Ratio (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Financial Strength at a Glance

Symbol	LMT	UAL
Current Ratio (MRQ)	1.13	0.67
Quick Ratio (MRQ)	0.97	0.58
Debt-to-Equity Ratio (MRQ)	3.59	1.78
Interest Coverage Ratio (TTM)	7.49	5.76

Growth

Revenue Growth

LMT vs. UAL: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

LMT vs. UAL: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

LMT

2.87%

Aerospace & Defense Industry

Max: 2.87%
Q3: 1.46%
Median: 0.58%
Q1: 0.10%
Min: 0.00%

With a Dividend Yield of 2.87%, LMT offers a more attractive income stream than most of its peers in the Aerospace & Defense industry, signaling a strong commitment to shareholder returns.

UAL

0.00%

Passenger Airlines Industry

Max: 7.00%
Q3: 3.61%
Median: 1.57%
Q1: 0.00%
Min: 0.00%

UAL currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

LMT vs. UAL: A comparison of their Dividend Yield (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Dividend Payout Ratio (TTM)

LMT

74.05%

Aerospace & Defense Industry

Max: 110.40%
Q3: 51.46%
Median: 20.20%
Q1: 4.21%
Min: 0.00%

LMT’s Dividend Payout Ratio of 74.05% is in the upper quartile for the Aerospace & Defense industry. This indicates a strong commitment to shareholder returns but also suggests that a smaller portion of earnings is retained for reinvestment compared to many peers.

UAL

0.00%

Passenger Airlines Industry

Max: 93.13%
Q3: 51.43%
Median: 14.52%
Q1: 0.00%
Min: 0.00%

UAL has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

LMT vs. UAL: A comparison of their Dividend Payout Ratio (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Dividend at a Glance

Symbol	LMT	UAL
Dividend Yield (TTM)	2.87%	0.00%
Dividend Payout Ratio (TTM)	74.05%	0.00%

Valuation

Price-to-Earnings Ratio (TTM)

LMT

25.77

Aerospace & Defense Industry

Max: 94.22
Q3: 53.31
Median: 32.27
Q1: 24.64
Min: 14.57

LMT’s P/E Ratio of 25.77 is within the middle range for the Aerospace & Defense industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

UAL

8.79

Passenger Airlines Industry

Max: 13.99
Q3: 10.90
Median: 8.70
Q1: 6.40
Min: 2.58

UAL’s P/E Ratio of 8.79 is within the middle range for the Passenger Airlines industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

LMT vs. UAL: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Price-to-Sales Ratio (TTM)

LMT

1.48

Aerospace & Defense Industry

Max: 7.20
Q3: 3.95
Median: 2.35
Q1: 1.71
Min: 0.32

In the lower quartile for the Aerospace & Defense industry, LMT’s P/S Ratio of 1.48 indicates its revenue is valued more conservatively than most of its peers. This could present a compelling opportunity if the market has overlooked its sales-generating capabilities.

UAL

0.50

Passenger Airlines Industry

Max: 1.48
Q3: 0.83
Median: 0.61
Q1: 0.37
Min: 0.08

UAL’s P/S Ratio of 0.50 aligns with the market consensus for the Passenger Airlines industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

LMT vs. UAL: A comparison of their Price-to-Sales Ratio (TTM) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Price-to-Book Ratio (MRQ)

LMT

18.58

Aerospace & Defense Industry

Max: 18.61
Q3: 9.58
Median: 5.45
Q1: 3.11
Min: 0.94

LMT’s P/B Ratio of 18.58 is in the upper tier for the Aerospace & Defense industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

UAL

2.18

Passenger Airlines Industry

Max: 3.44
Q3: 3.03
Median: 2.07
Q1: 1.28
Min: 0.49

UAL’s P/B Ratio of 2.18 is within the conventional range for the Passenger Airlines industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

LMT vs. UAL: A comparison of their Price-to-Book Ratio (MRQ) against their respective Aerospace & Defense and Passenger Airlines industry benchmarks.

Valuation at a Glance

Symbol	LMT	UAL
Price-to-Earnings Ratio (TTM)	25.77	8.79
Price-to-Sales Ratio (TTM)	1.48	0.50
Price-to-Book Ratio (MRQ)	18.58	2.18
Price-to-Free Cash Flow Ratio (TTM)	22.82	7.16