NDAQ vs. LMT

Last updated Apr 1, 2026

Compare and contrast key facts about Nasdaq, Inc. (NDAQ) and Lockheed Martin Corporation (LMT).

Performance

NDAQ vs. LMT - Performance Comparison

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

NDAQ vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDAQ Nasdaq, Inc.	-12.32%	27.19%	34.85%	-3.66%	-11.19%	60.13%	25.99%	33.88%	8.21%	16.76%
LMT Lockheed Martin Corporation	25.62%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Fundamentals

Market Cap NDAQ : $48.94B LMT : $140.16B
EPS NDAQ : $3.09 LMT : $21.53
PE Ratio NDAQ : 27.43 LMT : 28.07
PS Ratio NDAQ : 5.97 LMT : 1.88
PB Ratio NDAQ : 4.00 LMT : 20.85
Total Revenue (TTM) NDAQ : $8.22B LMT : $75.06B
Gross Profit (TTM) NDAQ : $3.94B LMT : $7.62B
EBITDA (TTM) NDAQ : $3.13B LMT : $8.77B

Returns By Period

In the year-to-date period, NDAQ achieves a -12.32% return, which is significantly lower than LMT's 25.62% return. Over the past 10 years, NDAQ has outperformed LMT with an annualized return of 16.29%, while LMT has yielded a comparatively lower 13.44% annualized return.

NDAQ

• 1D: 1.64%
• 1M: -2.76%
• YTD: -12.32%
• 6M: -3.43%
• 1Y: 13.26%
• 3Y*: 17.43%
• 5Y*: 12.56%
• 10Y*: 16.29%

LMT

• 1D: 0.97%
• 1M: -7.67%
• YTD: 25.62%
• 6M: 22.63%
• 1Y: 38.99%
• 3Y*: 11.49%
• 5Y*: 13.27%
• 10Y*: 13.44%

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

Return for Risk

NDAQ vs. LMT — Risk / Return Rank

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

NDAQ

NDAQ Risk / Return Rank: 57
NDAQ Sharpe Ratio Rank: 60
NDAQ Sortino Ratio Rank: 52
NDAQ Omega Ratio Rank: 54
NDAQ Calmar Ratio Rank: 58
NDAQ Martin Ratio Rank: 61

LMT

LMT Risk / Return Rank: 82
LMT Sharpe Ratio Rank: 84
LMT Sortino Ratio Rank: 77
LMT Omega Ratio Rank: 80
LMT Calmar Ratio Rank: 84
LMT Martin Ratio Rank: 83

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.

NDAQ vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nasdaq, Inc. (NDAQ) 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.

	NDAQ	LMT	Difference
Sharpe ratio Return per unit of total volatility	0.50	1.47	-0.97
Sortino ratio Return per unit of downside risk	0.82	1.90	-1.09
Omega ratio Gain probability vs. loss probability	1.12	1.28	-0.16
Calmar ratio Return relative to maximum drawdown	0.68	2.61	-1.94
Martin ratio Return relative to average drawdown	1.80	6.73	-4.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDAQ vs. LMT - Sharpe Ratio Comparison

The current NDAQ Sharpe Ratio is 0.50, which is lower than the LMT Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of NDAQ and LMT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NDAQ	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	1.47	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.59	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.57	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.39	-0.02

Correlation

The correlation between NDAQ and LMT is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NDAQ vs. LMT - Dividend Comparison

NDAQ's dividend yield for the trailing twelve months is around 1.27%, less than LMT's 2.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NDAQ Nasdaq, Inc.	1.27%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%
LMT Lockheed Martin Corporation	2.23%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Drawdowns

NDAQ vs. LMT - Drawdown Comparison

The maximum NDAQ drawdown since its inception was -68.48%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for NDAQ and LMT.

Drawdown Indicators

	NDAQ	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-68.48%	-79.29%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-21.76%	-15.56%	-6.20%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-31.79%	-1.05%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-36.67%	-1.64%
Current Drawdown Current decline from peak	-15.67%	-10.69%	-4.98%
Average Drawdown Average peak-to-trough decline	-23.91%	-26.87%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	6.04%	+2.14%

Volatility

NDAQ vs. LMT - Volatility Comparison

Nasdaq, Inc. (NDAQ) has a higher volatility of 6.76% compared to Lockheed Martin Corporation (LMT) at 6.40%. This indicates that NDAQ'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

	NDAQ	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	6.40%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	19.28%	18.63%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	26.65%	26.74%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.67%	22.57%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	23.53%	+0.58%

Financials

NDAQ vs. LMT - Profitability Comparison

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

NDAQ - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a gross profit of 1.39B and revenue of 2.08B. Therefore, the gross margin over that period was 66.9%.

LMT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Lockheed Martin Corporation reported a gross profit of 2.32B and revenue of 20.33B. Therefore, the gross margin over that period was 11.4%.

NDAQ - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported an operating income of 630.00M and revenue of 2.08B, resulting in an operating margin of 30.3%.

LMT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Lockheed Martin Corporation reported an operating income of 2.33B and revenue of 20.33B, resulting in an operating margin of 11.5%.

NDAQ - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nasdaq, Inc. reported a net income of 519.00M and revenue of 2.08B, resulting in a net margin of 25.0%.

LMT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Lockheed Martin Corporation reported a net income of 1.34B and revenue of 20.33B, resulting in a net margin of 6.6%.