LHX
L3Harris Technologies, Inc.
Aerospace & Defense
Market Cap$56.45B
5Y Perf.+51.5%
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Stock Comparison
LHX vs LMT
Revenue, margins, valuation, and 5-year total return — side by side.
LMT
Lockheed Martin Corporation
Aerospace & Defense
Market Cap$118.52B
5Y Perf.+32.4%
LHX vs LMT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | LHX | LMT |
|---|---|---|
| Industry | Aerospace & Defense | Aerospace & Defense |
| Market Cap | $56.45B | $118.52B |
| Revenue (TTM) | $22.48B | $75.11B |
| Net Income (TTM) | $1.73B | $4.79B |
| Gross Margin | 24.5% | 9.8% |
| Operating Margin | 10.0% | 9.9% |
| Forward P/E | 26.1x | 17.2x |
| Total Debt | $10.44B | $21.70B |
| Cash & Equiv. | $1.07B | $4.12B |
LHX vs LMT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
LHX
LMT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| L3Harris Technologi… (LHX) | 100 | 151.5 | +51.5% |
| Lockheed Martin Cor… (LMT) | 100 | 132.4 | +32.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: LHX vs LMT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: LMT leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. L3Harris Technologies, Inc. is the stronger pick specifically for profitability and margin quality and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
LHX
L3Harris Technologies, Inc.
The Growth Play
LHX is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 2.5%, EPS growth 8.4%, 3Y rev CAGR 8.6%
- 353.9% 10Y total return vs LMT's 157.0%
- Lower volatility, beta 0.39, Low D/E 53.2%, current ratio 1.19x
Best for: growth exposure and long-term compounding
LMT
Lockheed Martin Corporation
The Income Pick
LMT carries the broadest edge in this set and is the clearest fit for income & stability and defensive.
- Dividend streak 23 yrs, beta 0.12, yield 2.6%
- Beta 0.12, yield 2.6%, current ratio 1.09x
- 5.7% revenue growth vs LHX's 2.5%
Best for: income & stability and defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | LMT | 5.7% revenue growth vs LHX's 2.5% |
| Value | LMT | Lower P/E (17.2x vs 26.1x) |
| Quality / Margins | LHX | 7.7% margin vs LMT's 6.4% |
| Stability / Safety | LMT | Beta 0.12 vs LHX's 0.39 |
| Dividends | LMT | 2.6% yield, 23-year raise streak, vs LHX's 1.6% |
| Momentum (1Y) | LHX | +42.0% vs LMT's +12.7% |
| Efficiency (ROA) | LMT | 8.0% ROA vs LHX's 4.2%, ROIC 23.9% vs 5.4% |
LHX vs LMT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
LHX vs LMT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLLMTLAGGINGLHX
LHXL3Harris Technologies…
2leads
LMTLockheed Martin Corpo…
3leads
6 Total Categories
CATEGORYLEADERvs LHXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
LHX6/6
Valuation MetricsMultiples, price ratios, and targets
LMT5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
LMT5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
LHX5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
LMT2/2
Income & Cash Flow (Last 12 Months)
LHX leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
LMT is the larger business by revenue, generating $75.1B annually — 3.3x LHX's $22.5B. Profitability is closely matched — net margins range from 7.7% (LHX) to 6.4% (LMT). On growth, LHX holds the edge at +11.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| RevenueTrailing 12 months | $22.5B | $75.1B |
| EBITDAEarnings before interest/tax | $3.3B | $8.7B |
| Net IncomeAfter-tax profit | $1.7B | $4.8B |
| Free Cash FlowCash after capex | $2.6B | $5.7B |
| Gross MarginGross profit ÷ Revenue | +24.5% | +9.8% |
| Operating MarginEBIT ÷ Revenue | +10.0% | +9.9% |
| Net MarginNet income ÷ Revenue | +7.7% | +6.4% |
| FCF MarginFCF ÷ Revenue | +11.5% | +7.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +11.9% | +0.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +33.3% | -11.5% |
LHX leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
LMT leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 23.9x trailing earnings, LMT trades at a 32% valuation discount to LHX's 35.4x P/E. On an enterprise value basis, LMT's 16.1x EV/EBITDA is more attractive than LHX's 19.3x.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| Market CapShares × price | $56.4B | $118.5B |
| Enterprise ValueMkt cap + debt − cash | $65.8B | $136.1B |
| Trailing P/EPrice ÷ TTM EPS | 35.43x | 23.93x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.09x | 17.18x |
| PEG RatioP/E ÷ EPS growth rate | 3.38x | — |
| EV / EBITDAEnterprise value multiple | 19.25x | 16.12x |
| Price / SalesMarket cap ÷ Revenue | 2.58x | 1.58x |
| Price / BookPrice ÷ Book value/share | 2.90x | 17.74x |
| Price / FCFMarket cap ÷ FCF | 21.05x | 17.16x |
LMT leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
LMT leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
LMT delivers a 74.5% return on equity — every $100 of shareholder capital generates $75 in annual profit, vs $9 for LHX. LHX carries lower financial leverage with a 0.53x debt-to-equity ratio, signaling a more conservative balance sheet compared to LMT's 3.23x. On the Piotroski fundamental quality scale (0–9), LHX scores 9/9 vs LMT's 6/9, reflecting strong financial health.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| ROE (TTM)Return on equity | +8.9% | +74.5% |
| ROA (TTM)Return on assets | +4.2% | +8.0% |
| ROICReturn on invested capital | +5.4% | +23.9% |
| ROCEReturn on capital employed | +6.4% | +21.3% |
| Piotroski ScoreFundamental quality 0–9 | 9 | 6 |
| Debt / EquityFinancial leverage | 0.53x | 3.23x |
| Net DebtTotal debt minus cash | $9.4B | $17.6B |
| Cash & Equiv.Liquid assets | $1.1B | $4.1B |
| Total DebtShort + long-term debt | $10.4B | $21.7B |
| Interest CoverageEBIT ÷ Interest expense | 4.41x | 6.08x |
LMT leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
LHX leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in LHX five years ago would be worth $14,977 today (with dividends reinvested), compared to $14,854 for LMT. Over the past 12 months, LHX leads with a +42.0% total return vs LMT's +12.7%. The 3-year compound annual growth rate (CAGR) favors LHX at 19.1% vs LMT's 7.0% — a key indicator of consistent wealth creation.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| YTD ReturnYear-to-date | -0.3% | +4.2% |
| 1-Year ReturnPast 12 months | +42.0% | +12.7% |
| 3-Year ReturnCumulative with dividends | +68.9% | +22.6% |
| 5-Year ReturnCumulative with dividends | +49.8% | +48.5% |
| 10-Year ReturnCumulative with dividends | +353.9% | +157.0% |
| CAGR (3Y)Annualised 3-year return | +19.1% | +7.0% |
LHX leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — LHX and LMT each lead in 1 of 2 comparable metrics.
Risk & Volatility
LMT is the less volatile stock with a 0.12 beta — it tends to amplify market swings less than LHX's 0.39 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LHX currently trades 79.7% from its 52-week high vs LMT's 74.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.39x | 0.12x |
| 52-Week HighHighest price in past year | $379.23 | $692.00 |
| 52-Week LowLowest price in past year | $214.10 | $410.11 |
| % of 52W HighCurrent price vs 52-week peak | +79.7% | +74.3% |
| RSI (14)Momentum oscillator 0–100 | 24.4 | 24.5 |
| Avg Volume (50D)Average daily shares traded | 1.4M | 1.5M |
Evenly matched — LHX and LMT each lead in 1 of 2 comparable metrics.
Analyst Outlook
LMT leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates LHX as "Buy" and LMT as "Buy". Consensus price targets imply 23.5% upside for LMT (target: $635) vs 16.6% for LHX (target: $352). For income investors, LMT offers the higher dividend yield at 2.63% vs LHX's 1.59%.
| Metric | LHXL3Harris Technolo… | LMTLockheed Martin C… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $352.25 | $635.11 |
| # AnalystsCovering analysts | 32 | 37 |
| Dividend YieldAnnual dividend ÷ price | +1.6% | +2.6% |
| Dividend StreakConsecutive years of raises | 6 | 23 |
| Dividend / ShareAnnual DPS | $4.79 | $13.50 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.0% | +2.5% |
LMT leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
LMT leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). LHX leads in 2 (Income & Cash Flow, Total Returns). 1 tied.
Best OverallLockheed Martin Corporation (LMT)Leads 3 of 6 categories
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LHX vs LMT: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is LHX or LMT a better buy right now?
For growth investors, Lockheed Martin Corporation (LMT) is the stronger pick with 5.
7% revenue growth year-over-year, versus 2. 5% for L3Harris Technologies, Inc. (LHX). Lockheed Martin Corporation (LMT) offers the better valuation at 23. 9x trailing P/E (17. 2x forward), making it the more compelling value choice. Analysts rate L3Harris Technologies, Inc. (LHX) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LHX or LMT?
On trailing P/E, Lockheed Martin Corporation (LMT) is the cheapest at 23.
9x versus L3Harris Technologies, Inc. at 35. 4x. On forward P/E, Lockheed Martin Corporation is actually cheaper at 17. 2x.
03Which is the better long-term investment — LHX or LMT?
Over the past 5 years, L3Harris Technologies, Inc.
(LHX) delivered a total return of +49. 8%, compared to +48. 5% for Lockheed Martin Corporation (LMT). Over 10 years, the gap is even starker: LHX returned +353. 9% versus LMT's +157. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LHX or LMT?
By beta (market sensitivity over 5 years), Lockheed Martin Corporation (LMT) is the lower-risk stock at 0.
12β versus L3Harris Technologies, Inc. 's 0. 39β — meaning LHX is approximately 214% more volatile than LMT relative to the S&P 500. On balance sheet safety, L3Harris Technologies, Inc. (LHX) carries a lower debt/equity ratio of 53% versus 3% for Lockheed Martin Corporation — giving it more financial flexibility in a downturn.
05Which is growing faster — LHX or LMT?
By revenue growth (latest reported year), Lockheed Martin Corporation (LMT) is pulling ahead at 5.
7% versus 2. 5% for L3Harris Technologies, Inc. (LHX). On earnings-per-share growth, the picture is similar: L3Harris Technologies, Inc. grew EPS 8. 4% year-over-year, compared to -3. 7% for Lockheed Martin Corporation. Over a 3-year CAGR, LHX leads at 8. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — LHX or LMT?
L3Harris Technologies, Inc.
(LHX) is the more profitable company, earning 7. 3% net margin versus 6. 7% for Lockheed Martin Corporation — meaning it keeps 7. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LMT leads at 10. 3% versus 10. 0% for LHX. At the gross margin level — before operating expenses — LHX leads at 25. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is LHX or LMT more undervalued right now?
On forward earnings alone, Lockheed Martin Corporation (LMT) trades at 17.
2x forward P/E versus 26. 1x for L3Harris Technologies, Inc. — 8. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LMT: 23. 5% to $635. 11.
08Which pays a better dividend — LHX or LMT?
All stocks in this comparison pay dividends.
Lockheed Martin Corporation (LMT) offers the highest yield at 2. 6%, versus 1. 6% for L3Harris Technologies, Inc. (LHX).
09Is LHX or LMT better for a retirement portfolio?
For long-horizon retirement investors, Lockheed Martin Corporation (LMT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
12), 2. 6% yield, +157. 0% 10Y return). Both have compounded well over 10 years (LMT: +157. 0%, LHX: +353. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between LHX and LMT?
Both stocks operate in the Industrials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(LHX: 11.9% · LMT: 0.3%)Net Margin>
%
(LHX: 7.7% · LMT: 6.4%)P/E Ratio<
x
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