Boeing vs Lockheed Martin
Boeing is the larger business, with $89.46bn of revenue in fiscal 2025 against $75.05bn for Lockheed Martin (1.2 times as much). Boeing grew faster (34.5% against 5.6%). Lockheed Martin kept more of each dollar of sales as profit: a net margin of 6.7% against 2.5%. Lockheed Martin carries less debt relative to equity (340.7% against 991.9%).
| Latest fiscal year | BoeingBA, 2025 | Lockheed MartinLMT, 2025 |
|---|---|---|
| Revenue | $89.46bn | $75.05bn |
| Revenue growth | 34.5% | 5.6% |
| Net income | $2.23bn | $5.02bn |
| Operating margin | 4.8% | 10.3% |
| Net margin | 2.5% | 6.7% |
| Return on equity | — | 76.9% |
| Free cash flow | −$1.88bn | $6.91bn |
| Cash | $10.92bn | $4.12bn |
| Total debt | $54.10bn | $22.90bn |
| Debt to equity | 991.9% | 340.7% |
| Dividend per share | — | $13.35 |
| Dividend yield | 0.3% | 2.1% |
| Share buybacks | — | $3.00bn |
| Employees | — | 123,000 |
| Market value | $137.68bn | $148.58bn |
| Price vs our value range | — | Within our value range |
| Moat score | 28 (Weak) | 74 (Strong) |
| Insider trades, 12 months | 3 buys, 5 sales | 0 buys, 24 sales |