BA vs. LMT
BA (The Boeing Company) and LMT (Lockheed Martin Corporation) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, BA returned 6.28%/yr vs 10.80%/yr for LMT. At a 0.35 correlation, their price movements are largely independent.
Performance
BA vs. LMT - Performance Comparison
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Returns By Period
In the year-to-date period, BA achieves a 2.58% return, which is significantly lower than LMT's 6.89% return. Over the past 10 years, BA has underperformed LMT with an annualized return of 6.28%, while LMT has yielded a comparatively higher 10.80% annualized return.
BA
- 1D
- -1.29%
- 1M
- 3.59%
- YTD
- 2.58%
- 6M
- 6.94%
- 1Y
- 12.67%
- 3Y*
- 0.41%
- 5Y*
- -1.26%
- 10Y*
- 6.28%
LMT
- 1D
- -4.01%
- 1M
- -2.34%
- YTD
- 6.89%
- 6M
- 9.97%
- 1Y
- 11.98%
- 3Y*
- 6.44%
- 5Y*
- 9.05%
- 10Y*
- 10.80%
BA vs. LMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BA The Boeing Company | 2.58% | 22.67% | -32.10% | 36.84% | -5.38% | -5.95% | -33.90% | 3.34% | 11.50% | 94.72% |
LMT Lockheed Martin Corporation | 6.89% | 2.47% | 10.02% | -4.31% | 40.48% | 3.15% | -6.49% | 52.55% | -16.35% | 31.77% |
Correlation
The correlation between BA and LMT is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1977 | 0.35 |
The correlation between BA and LMT shifts across timeframes, from 0.16 (3 years) to 0.35 (all time), reflecting how their relationship changes across market environments.
Fundamentals
BA:
$182.23B
LMT:
$118.08B
BA:
$2.90
LMT:
$20.61
BA:
76.76
LMT:
24.79
BA:
1.89
LMT:
1.58
BA:
30.47
LMT:
15.77
BA:
$92.18B
LMT:
$75.12B
BA:
$4.43B
LMT:
$7.37B
BA:
$7.13B
LMT:
$8.09B
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Return for Risk
BA vs. LMT — Risk / Return Rank
BA
LMT
BA vs. LMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Boeing Company (BA) and Lockheed Martin Corporation (LMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BA | LMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 0.48 | +0.03 |
| Martin ratioReturn relative to average drawdown | 1.15 | 1.11 | +0.04 |
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Drawdowns
BA vs. LMT - Drawdown Comparison
The maximum BA drawdown since its inception was -89.45%, which is greater than LMT's maximum drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for BA and LMT.
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Drawdown Indicators
| BA | LMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.45% | -79.29% | -10.16% |
Max Drawdown (1Y)Largest decline over 1 year | -24.96% | -25.15% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -48.31% | -31.79% | -16.52% |
Max Drawdown (5Y)Largest decline over 5 years | -53.76% | -31.79% | -21.97% |
Max Drawdown (10Y)Largest decline over 10 years | -77.92% | -36.67% | -41.25% |
Current DrawdownCurrent decline from peak | -48.24% | -24.00% | -24.24% |
Average DrawdownAverage peak-to-trough decline | -31.02% | -26.83% | -4.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.02% | 10.80% | +0.22% |
Volatility
BA vs. LMT - Volatility Comparison
The Boeing Company (BA) has a higher volatility of 11.59% compared to Lockheed Martin Corporation (LMT) at 8.14%. This indicates that BA's price experiences larger fluctuations and is considered to be riskier than LMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BA | LMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 8.14% | +3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 23.77% | 20.45% | +3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.27% | 26.30% | +5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.64% | 23.08% | +13.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.64% | 23.80% | +17.84% |
Dividends
BA vs. LMT - Dividend Comparison
BA has not paid dividends to shareholders, while LMT's dividend yield for the trailing twelve months is around 2.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BA The Boeing Company | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.96% | 2.52% | 2.12% | 1.93% | 2.80% | 2.52% |
LMT Lockheed Martin Corporation | 2.67% | 2.76% | 2.62% | 2.68% | 2.34% | 2.98% | 2.76% | 2.31% | 3.13% | 2.32% | 2.71% | 2.83% |
Financials
BA vs. LMT - Financials Comparison
This section allows you to compare key financial metrics between The Boeing Company and Lockheed Martin Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BA vs. LMT - Profitability Comparison
BA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a gross profit of 2.55B and revenue of 22.22B. Therefore, the gross margin over that period was 11.5%.
LMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a gross profit of 2.08B and revenue of 18.02B. Therefore, the gross margin over that period was 11.5%.
BA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported an operating income of 448.00M and revenue of 22.22B, resulting in an operating margin of 2.0%.
LMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported an operating income of 2.06B and revenue of 18.02B, resulting in an operating margin of 11.5%.
BA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a net income of -4.00M and revenue of 22.22B, resulting in a net margin of -0.0%.
LMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a net income of 1.49B and revenue of 18.02B, resulting in a net margin of 8.3%.
Frequently Asked Questions
BA and LMT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BA has higher volatility (11.59%) compared to LMT (8.14%). In terms of maximum drawdown, BA dropped -89.45% vs LMT's -79.29%.
LMT currently has the higher Sharpe Ratio (0.46 vs 0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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