XOS vs. LMT

Last updated Jun 4, 2026

XOS (Xos, Inc.) and LMT (Lockheed Martin Corporation) are both stocks. Both are in the Industrials sector — XOS in Farm & Heavy Construction Machinery, LMT in Aerospace & Defense. Over the past 3 years, XOS returned -13.63%/yr vs 6.88%/yr for LMT. At a 0.04 correlation, their price movements are largely independent.

Performance

XOS vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xos, Inc. (XOS) 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, XOS achieves a 312.15% return, which is significantly higher than LMT's 7.12% return.

XOS

• 1D: 234.53%
• 1M: 314.44%
• YTD: 312.15%
• 6M: 217.45%
• 1Y: 136.83%
• 3Y*: -13.63%
• 5Y*: —
• 10Y*: —

LMT

• 1D: -0.27%
• 1M: -0.53%
• YTD: 7.12%
• 6M: 15.96%
• 1Y: 9.51%
• 3Y*: 6.88%
• 5Y*: 8.25%
• 10Y*: 10.81%

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

XOS vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XOS Xos, Inc.	312.15%	-44.14%	-59.40%	-39.94%	-85.94%	-58.28%
LMT Lockheed Martin Corporation	7.12%	2.47%	10.02%	-4.31%	40.48%	1.06%

Correlation

The correlation between XOS and LMT is 0.05, 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	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Aug 23, 2021	0.04

Fundamentals

Market Cap XOS : $86.33M LMT : $118.33B
EPS XOS : -$1.96 LMT : $20.61
PS Ratio XOS : 1.49 LMT : 1.59
PB Ratio XOS : 4.36 LMT : 15.80
Total Revenue (TTM) XOS : $51.34M LMT : $75.12B
Gross Profit (TTM) XOS : $5.85M LMT : $7.37B
EBITDA (TTM) XOS : -$17.36M LMT : $8.09B

Return for Risk

XOS vs. LMT — Risk / Return Rank

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

XOS

XOS Risk / Return Rank: 80
XOS Sharpe Ratio Rank: 59
XOS Sortino Ratio Rank: 97
XOS Omega Ratio Rank: 96
XOS Calmar Ratio Rank: 78
XOS Martin Ratio Rank: 70

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: 49
LMT Martin Ratio Rank: 50

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.

XOS vs. LMT - Risk-Adjusted Trends Comparison

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

	XOS	LMT	Difference
Sharpe ratio Return per unit of total volatility	0.57	0.36	+0.21
Sortino ratio Return per unit of downside risk	4.99	0.64	+4.35
Omega ratio Gain probability vs. loss probability	1.62	1.09	+0.53
Calmar ratio Return relative to maximum drawdown	2.40	0.38	+2.02
Martin ratio Return relative to average drawdown	3.77	0.93	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOS vs. LMT - Sharpe Ratio Comparison

The current XOS Sharpe Ratio is 0.57, which is higher than the LMT Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of XOS 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

	XOS	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.36	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	0.38	-0.73

Drawdowns

XOS vs. LMT - Drawdown Comparison

The maximum XOS drawdown since its inception was -99.36%, which is greater than LMT's maximum drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for XOS and LMT.

Drawdown Indicators

	XOS	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-79.29%	-20.07%
Max Drawdown (1Y) Largest decline over 1 year	-57.41%	-25.15%	-32.26%
Max Drawdown (3Y) Largest decline over 3 years	-90.86%	-31.79%	-59.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.67%	—
Current Drawdown Current decline from peak	-97.03%	-23.84%	-73.19%
Average Drawdown Average peak-to-trough decline	-88.57%	-26.84%	-61.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.41%	10.22%	+26.19%

Volatility

XOS vs. LMT - Volatility Comparison

Xos, Inc. (XOS) has a higher volatility of 120.55% compared to Lockheed Martin Corporation (LMT) at 5.45%. This indicates that XOS'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

	XOS	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	120.55%	5.45%	+115.10%
Volatility (6M) Calculated over the trailing 6-month period	130.66%	19.56%	+111.10%
Volatility (1Y) Calculated over the trailing 1-year period	242.83%	26.54%	+216.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.02%	22.89%	+122.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.02%	23.71%	+121.31%

Dividends

XOS vs. LMT - Dividend Comparison

XOS 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
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%
XOS Xos, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

XOS vs. LMT - Profitability Comparison

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

XOS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Xos, Inc. reported a gross profit of 4.33M and revenue of 11.23M. Therefore, the gross margin over that period was 38.6%.

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%.

XOS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Xos, Inc. reported an operating income of -4.68M and revenue of 11.23M, resulting in an operating margin of -41.7%.

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%.

XOS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Xos, Inc. reported a net income of -4.95M and revenue of 11.23M, resulting in a net margin of -44.1%.

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 XOS and LMT in my portfolio?

XOS and LMT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOS or LMT?

XOS has higher volatility (120.55%) compared to LMT (5.45%). In terms of maximum drawdown, XOS dropped -99.36% vs LMT's -79.29%.

Which has better risk-adjusted returns?

XOS currently has the higher Sharpe Ratio (0.57 vs 0.36), 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.