Lockheed Martin vs Northrop Grumman
Lockheed Martin is the larger business, with $75.05bn of revenue in fiscal 2025 against $41.95bn for Northrop Grumman (1.8 times as much). Lockheed Martin grew faster (5.6% against 2.2%). Northrop Grumman kept more of each dollar of sales as profit: a net margin of 10.0% against 6.7%. Northrop Grumman carries less debt relative to equity (94.7% against 340.7%).
| Latest fiscal year | Lockheed MartinLMT, 2025 | Northrop GrummanNOC, 2025 |
|---|---|---|
| Revenue | $75.05bn | $41.95bn |
| Revenue growth | 5.6% | 2.2% |
| Net income | $5.02bn | $4.18bn |
| Operating margin | 10.3% | 10.8% |
| Net margin | 6.7% | 10.0% |
| Return on equity | 76.9% | 26.2% |
| Free cash flow | $6.91bn | $3.31bn |
| Cash | $4.12bn | $4.40bn |
| Total debt | $22.90bn | $15.80bn |
| Debt to equity | 340.7% | 94.7% |
| Dividend per share | $13.35 | $8.99 |
| Dividend yield | 2.1% | 1.7% |
| Share buybacks | $3.00bn | $1.62bn |
| Employees | 123,000 | 95,000 |
| Market value | $148.58bn | $78.09bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 74 (Strong) | 74 (Strong) |
| Insider trades, 12 months | 0 buys, 24 sales | 0 buys, 61 sales |