NOC vs. LMT

Last updated Apr 2, 2026

Compare and contrast key facts about Northrop Grumman Corporation (NOC) and Lockheed Martin Corporation (LMT).

Performance

NOC vs. LMT - Performance Comparison

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

NOC vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOC Northrop Grumman Corporation	22.63%	23.61%	1.93%	-12.79%	43.02%	29.29%	-9.92%	42.69%	-18.95%	33.88%
LMT Lockheed Martin Corporation	28.37%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Fundamentals

Market Cap NOC : $99.60B LMT : $143.23B
EPS NOC : $29.15 LMT : $21.53
PE Ratio NOC : 23.91 LMT : 28.68
PS Ratio NOC : 2.38 LMT : 1.92
PB Ratio NOC : 5.97 LMT : 21.31
Total Revenue (TTM) NOC : $41.95B LMT : $75.06B
Gross Profit (TTM) NOC : $6.02B LMT : $7.62B
EBITDA (TTM) NOC : $6.43B LMT : $8.77B

Returns By Period

In the year-to-date period, NOC achieves a 22.63% return, which is significantly lower than LMT's 28.37% return. Over the past 10 years, NOC has outperformed LMT with an annualized return of 15.11%, while LMT has yielded a comparatively lower 13.69% annualized return.

NOC

• 1D: 2.16%
• 1M: -9.25%
• YTD: 22.63%
• 6M: 15.96%
• 1Y: 38.02%
• 3Y*: 16.63%
• 5Y*: 18.58%
• 10Y*: 15.11%

LMT

• 1D: 2.19%
• 1M: -8.73%
• YTD: 28.37%
• 6M: 25.37%
• 1Y: 41.43%
• 3Y*: 12.30%
• 5Y*: 13.76%
• 10Y*: 13.69%

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

Return for Risk

NOC vs. LMT — Risk / Return Rank

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

NOC

NOC Risk / Return Rank: 78
NOC Sharpe Ratio Rank: 80
NOC Sortino Ratio Rank: 74
NOC Omega Ratio Rank: 78
NOC Calmar Ratio Rank: 81
NOC Martin Ratio Rank: 77

LMT

LMT Risk / Return Rank: 81
LMT Sharpe Ratio Rank: 84
LMT Sortino Ratio Rank: 77
LMT Omega Ratio Rank: 80
LMT Calmar Ratio Rank: 83
LMT Martin Ratio Rank: 82

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.

NOC vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northrop Grumman Corporation (NOC) 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.

	NOC	LMT	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.55	-0.23
Sortino ratio Return per unit of downside risk	1.80	1.99	-0.19
Omega ratio Gain probability vs. loss probability	1.28	1.29	-0.02
Calmar ratio Return relative to maximum drawdown	2.46	2.70	-0.24
Martin ratio Return relative to average drawdown	5.29	6.94	-1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOC vs. LMT - Sharpe Ratio Comparison

The current NOC Sharpe Ratio is 1.32, which is comparable to the LMT Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of NOC 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

	NOC	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.55	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.61	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.58	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.39	+0.09

Correlation

The correlation between NOC and LMT is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NOC vs. LMT - Dividend Comparison

NOC's dividend yield for the trailing twelve months is around 1.33%, less than LMT's 2.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOC Northrop Grumman Corporation	1.33%	1.58%	1.72%	1.57%	1.24%	1.59%	1.86%	1.50%	1.92%	1.27%	1.50%	1.64%
LMT Lockheed Martin Corporation	2.19%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Drawdowns

NOC vs. LMT - Drawdown Comparison

The maximum NOC drawdown since its inception was -71.12%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for NOC and LMT.

Drawdown Indicators

	NOC	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-71.12%	-79.29%	+8.17%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-15.56%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.28%	-31.79%	+9.51%
Max Drawdown (10Y) Largest decline over 10 years	-36.38%	-36.67%	+0.29%
Current Drawdown Current decline from peak	-9.25%	-8.73%	-0.52%
Average Drawdown Average peak-to-trough decline	-18.38%	-26.86%	+8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.24%	6.06%	+1.18%

Volatility

NOC vs. LMT - Volatility Comparison

Northrop Grumman Corporation (NOC) and Lockheed Martin Corporation (LMT) have volatilities of 6.83% and 6.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOC	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	6.88%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	19.26%	18.69%	+0.57%
Volatility (1Y) Calculated over the trailing 1-year period	28.98%	26.80%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.96%	22.59%	+2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.19%	23.53%	+1.66%

Financials

NOC vs. LMT - Profitability Comparison

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

NOC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported a gross profit of 0.00 and revenue of 11.71B. Therefore, the gross margin over that period was 0.0%.

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%.

NOC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported an operating income of 1.27B and revenue of 11.71B, resulting in an operating margin of 10.9%.

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%.

NOC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Northrop Grumman Corporation reported a net income of 1.43B and revenue of 11.71B, resulting in a net margin of 12.2%.

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%.