LMT vs. T

Last updated Jun 13, 2026

LMT (Lockheed Martin Corporation) and T (AT&T Inc.) are both stocks. LMT operates in Aerospace & Defense (Industrials), while T operates in Telecom Services (Communication Services). Over the past 10 years, LMT returned 11.37%/yr vs 3.33%/yr for T. At a 0.24 correlation, their price movements are largely independent.

Performance

LMT vs. T - Performance Comparison

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

Returns By Period

In the year-to-date period, LMT achieves a 13.04% return, which is significantly higher than T's -2.96% return. Over the past 10 years, LMT has outperformed T with an annualized return of 11.37%, while T has yielded a comparatively lower 3.33% annualized return.

LMT

• 1D: -1.52%
• 1M: 4.60%
• YTD: 13.04%
• 6M: 13.84%
• 1Y: 18.25%
• 3Y*: 8.98%
• 5Y*: 9.78%
• 10Y*: 11.37%

T

• 1D: 2.52%
• 1M: -4.69%
• YTD: -2.96%
• 6M: -1.93%
• 1Y: -12.96%
• 3Y*: 20.58%
• 5Y*: 7.38%
• 10Y*: 3.33%

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

LMT vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMT Lockheed Martin Corporation	13.04%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%
T AT&T Inc.	-2.96%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between LMT and T is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jul 19, 1984	0.24

The correlation between LMT and T shifts across timeframes, from -0.01 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS LMT : $20.61 T : $3.04
PE Ratio LMT : 26.21 T : 7.74
PS Ratio LMT : 1.67 T : 1.35
Total Revenue (TTM) LMT : $75.12B T : $125.65B
Gross Profit (TTM) LMT : $7.37B T : $105.41B
EBITDA (TTM) LMT : $8.09B T : $54.70B

Return for Risk

LMT vs. T — Risk / Return Rank

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

LMT

LMT Risk / Return Rank: 60
LMT Sharpe Ratio Rank: 66
LMT Sortino Ratio Rank: 58
LMT Omega Ratio Rank: 59
LMT Calmar Ratio Rank: 59
LMT Martin Ratio Rank: 60

T

T Risk / Return Rank: 18
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 17
T Omega Ratio Rank: 18
T Calmar Ratio Rank: 21
T Martin Ratio Rank: 15

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.

LMT vs. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lockheed Martin Corporation (LMT) and AT&T Inc. (T). 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.

	LMT	T	Difference
Sharpe ratio: Return per unit of total volatility	0.69	-0.59	+1.28
Sortino ratio: Return per unit of downside risk	1.05	-0.72	+1.78
Omega ratio: Gain probability vs. loss probability	1.14	0.92	+0.23
Calmar ratio: Return relative to maximum drawdown	0.73	-0.59	+1.32
Martin ratio: Return relative to average drawdown	1.69	-1.22	+2.91

LMT vs. T - Sharpe Ratio Comparison

The current LMT Sharpe Ratio is 0.69, which is higher than the T Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of LMT and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LMT vs. T - Drawdown Comparison

The maximum LMT drawdown since its inception was -79.29%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for LMT and T.

Drawdown Indicators

	LMT	T	Difference
Max Drawdown Largest peak-to-trough decline	-79.29%	-64.15%	-15.14%
Max Drawdown (1Y) Largest decline over 1 year	-25.15%	-21.87%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-31.79%	-21.87%	-9.92%
Max Drawdown (5Y) Largest decline over 5 years	-31.79%	-32.01%	+0.22%
Max Drawdown (10Y) Largest decline over 10 years	-36.67%	-42.35%	+5.68%
Current Drawdown Current decline from peak	-19.63%	-18.12%	-1.51%
Average Drawdown Average peak-to-trough decline	-26.83%	-15.72%	-11.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.81%	10.64%	+0.17%

Volatility

LMT vs. T - Volatility Comparison

The current volatility for Lockheed Martin Corporation (LMT) is 7.02%, while AT&T Inc. (T) has a volatility of 8.21%. This indicates that LMT experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMT	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.02%	8.21%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	20.04%	17.80%	+2.24%
Volatility (1Y) Calculated over the trailing 1-year period	26.71%	22.13%	+4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.99%	24.01%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.76%	23.73%	+0.03%

Dividends

LMT vs. T - Dividend Comparison

LMT's dividend yield for the trailing twelve months is around 2.53%, less than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMT Lockheed Martin Corporation	2.53%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both LMT and T in my portfolio?

LMT and T have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LMT or T?

T has higher volatility (8.21%) compared to LMT (7.02%). In terms of maximum drawdown, LMT dropped -79.29% vs T's -64.15%.

Which has better risk-adjusted returns?

LMT currently has the higher Sharpe Ratio (0.69 vs -0.59), 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.