HEI-A vs. LMT

Last updated Jun 3, 2026

HEI-A (HEICO Corporation) and LMT (Lockheed Martin Corporation) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, HEI-A returned 24.48%/yr vs 10.84%/yr for LMT. At a 0.39 correlation, their price movements are largely independent.

Performance

HEI-A vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HEICO Corporation (HEI-A) and Lockheed Martin Corporation (LMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEI-A achieves a -2.99% return, which is significantly lower than LMT's 7.41% return. Over the past 10 years, HEI-A has outperformed LMT with an annualized return of 24.48%, while LMT has yielded a comparatively lower 10.84% annualized return.

HEI-A

• 1D: -0.47%
• 1M: 16.96%
• YTD: -2.99%
• 6M: 1.58%
• 1Y: 3.76%
• 3Y*: 24.02%
• 5Y*: 13.02%
• 10Y*: 24.48%

LMT

• 1D: -0.59%
• 1M: 0.78%
• YTD: 7.41%
• 6M: 17.59%
• 1Y: 10.12%
• 3Y*: 6.98%
• 5Y*: 8.69%
• 10Y*: 10.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HEI-A vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEI-A HEICO Corporation	-2.99%	35.80%	30.81%	19.03%	-6.60%	9.94%	30.98%	42.21%	24.78%	45.72%
LMT Lockheed Martin Corporation	7.41%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Correlation

The correlation between HEI-A and LMT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.39

Fundamentals

Market Cap HEI-A : $34.52B LMT : $118.65B
EPS HEI-A : $5.60 LMT : $20.61
PE Ratio HEI-A : 43.71 LMT : 24.91
PS Ratio HEI-A : 7.03 LMT : 1.59
PB Ratio HEI-A : 6.40 LMT : 15.84
Total Revenue (TTM) HEI-A : $4.91B LMT : $75.12B
Gross Profit (TTM) HEI-A : $943.00M LMT : $7.37B
EBITDA (TTM) HEI-A : $1.12B LMT : $8.09B

Return for Risk

HEI-A vs. LMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEI-A

HEI-A Risk / Return Rank: 42
HEI-A Sharpe Ratio Rank: 45
HEI-A Sortino Ratio Rank: 39
HEI-A Omega Ratio Rank: 39
HEI-A Calmar Ratio Rank: 43
HEI-A Martin Ratio Rank: 44

LMT

LMT Risk / Return Rank: 49
LMT Sharpe Ratio Rank: 53
LMT Sortino Ratio Rank: 45
LMT Omega Ratio Rank: 46
LMT Calmar Ratio Rank: 50
LMT Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEI-A vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HEICO Corporation (HEI-A) 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.

	HEI-A	LMT	Difference
Sharpe ratio Return per unit of total volatility	0.12	0.38	-0.26
Sortino ratio Return per unit of downside risk	0.42	0.67	-0.25
Omega ratio Gain probability vs. loss probability	1.05	1.09	-0.04
Calmar ratio Return relative to maximum drawdown	0.14	0.40	-0.26
Martin ratio Return relative to average drawdown	0.34	1.00	-0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEI-A vs. LMT - Sharpe Ratio Comparison

The current HEI-A Sharpe Ratio is 0.12, which is lower than the LMT Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of HEI-A and LMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HEI-A	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.38	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.38	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.46	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.38	+0.45

Drawdowns

HEI-A vs. LMT - Drawdown Comparison

The maximum HEI-A drawdown since its inception was -49.70%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for HEI-A and LMT.

Drawdown Indicators

	HEI-A	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-49.70%	-79.29%	+29.59%
Max Drawdown (1Y) Largest decline over 1 year	-27.11%	-25.15%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-27.11%	-31.79%	+4.68%
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	-31.79%	+4.68%
Max Drawdown (10Y) Largest decline over 10 years	-49.70%	-36.67%	-13.03%
Current Drawdown Current decline from peak	-11.36%	-23.63%	+12.27%
Average Drawdown Average peak-to-trough decline	-7.66%	-26.84%	+19.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.56%	10.11%	+1.45%

Volatility

HEI-A vs. LMT - Volatility Comparison

HEICO Corporation (HEI-A) has a higher volatility of 14.81% compared to Lockheed Martin Corporation (LMT) at 5.55%. This indicates that HEI-A'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.

Volatility by Period

	HEI-A	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.81%	5.55%	+9.26%
Volatility (6M) Calculated over the trailing 6-month period	24.29%	19.87%	+4.42%
Volatility (1Y) Calculated over the trailing 1-year period	30.80%	26.54%	+4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.58%	22.89%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.55%	23.71%	+6.84%

Dividends

HEI-A vs. LMT - Dividend Comparison

HEI-A's dividend yield for the trailing twelve months is around 0.10%, less than LMT's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEI-A HEICO Corporation	0.10%	0.09%	0.11%	0.14%	0.15%	0.13%	0.14%	0.08%	0.18%	0.10%	0.25%	0.00%
LMT Lockheed Martin Corporation	2.66%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Financials

HEI-A vs. LMT - Profitability Comparison

The chart below illustrates the profitability comparison between HEICO Corporation and Lockheed Martin Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HEI-A - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported a gross profit of -454.96M and revenue of 1.38B. Therefore, the gross margin over that period was -33.1%.

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%.

HEI-A - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported an operating income of 350.44M and revenue of 1.38B, resulting in an operating margin of 25.5%.

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%.

HEI-A - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported a net income of 233.80M and revenue of 1.38B, resulting in a net margin of 17.0%.

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

Can I hold both HEI-A and LMT in my portfolio?

HEI-A and LMT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEI-A or LMT?

HEI-A has higher volatility (14.81%) compared to LMT (5.55%). In terms of maximum drawdown, HEI-A dropped -49.70% vs LMT's -79.29%.

Which has better risk-adjusted returns?

LMT currently has the higher Sharpe Ratio (0.38 vs 0.12), 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.