HON vs LMT
Honeywell International Inc. and Lockheed Martin Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | HON | LMT |
|---|---|---|
| Revenue | $37.4B | $75.0B |
| Net income | $4.7B | $5.0B |
| Gross margin | 36.9% | 10.2% |
| Net margin | 12.7% | 6.7% |
| Return on equity | 29.1% | 76.9% |
| Diluted EPS | $7.36 | $21.49 |
| Dividend / share | $4.58 | $13.35 |
| Payout ratio | 62.9% | 62.4% |
| Free cash flow | $5.4B | $6.9B |
| Equity | $13.9B | $6.7B |
| Net debt / equity | 1.61× | 2.62× |
| Current ratio | 1.30× | 1.09× |
| Revenue CAGR 5y | 2.8% | 2.8% |
| Profit CAGR 5y | −0.2% | −6.0% |
LMT bills 2.0× the revenue of HON, and HON keeps more of each dollar of revenue as profit (12.7% against 6.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | HON | LMT |
|---|---|---|
| FY2025 | $37.4B | $75.0B |
| FY2024 | $34.7B | $71.0B |
| FY2023 | $33.0B | $67.6B |
| FY2022 | $35.5B | $66.0B |
| FY2021 | $34.4B | $67.0B |
| FY2020 | $32.6B | $65.4B |
| FY2019 | $36.7B | $59.8B |
| FY2018 | $41.8B | $53.8B |
| FY2017 | $40.5B | $50.0B |
| FY2016 | $39.3B | $47.3B |
Bottom line
| Fiscal year | HON | LMT |
|---|---|---|
| FY2025 | $4.7B | $5.0B |
| FY2024 | $5.7B | $5.3B |
| FY2023 | $5.7B | $6.9B |
| FY2022 | $5.0B | $5.7B |
| FY2021 | $5.5B | $6.3B |
| FY2020 | $4.8B | $6.8B |
| FY2019 | $6.1B | $6.2B |
| FY2018 | $6.8B | $5.0B |
| FY2017 | $1.5B | $2.0B |
| FY2016 | $4.8B | $5.2B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$37,606,000,000 | LMT |
| FY2024 | −$36,326,000,000 | LMT |
| FY2023 | −$34,562,000,000 | LMT |
| FY2022 | −$30,518,000,000 | LMT |
| FY2021 | −$32,652,000,000 | LMT |
| FY2020 | −$32,761,000,000 | LMT |
| FY2019 | −$23,103,000,000 | LMT |
| FY2018 | −$11,960,000,000 | LMT |
| FY2017 | −$9,426,000,000 | LMT |
| FY2016 | −$7,988,000,000 | LMT |
| FY2015 | −$1,955,000,000 | LMT |
| FY2014 | +$360,000,000 | HON |
| FY2013 | −$6,303,000,000 | LMT |
| FY2012 | −$9,517,000,000 | LMT |
| FY2011 | −$9,970,000,000 | LMT |
| FY2010 | −$13,321,000,000 | LMT |
| FY2009 | −$13,916,000,000 | LMT |
| FY2008 | −$4,816,000,000 | LMT |
| FY2007 | −$7,273,000,000 | LMT |
The higher-revenue side has changed between HON and LMT over this period. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +6.1 pp | HON |
| FY2024 | +9.0 pp | HON |
| FY2023 | +6.9 pp | HON |
| FY2022 | +5.3 pp | HON |
| FY2021 | +6.9 pp | HON |
| FY2020 | +4.5 pp | HON |
| FY2019 | +6.6 pp | HON |
| FY2018 | +6.9 pp | HON |
| FY2017 | −0.0 pp | LMT |
| FY2016 | +1.4 pp | HON |
| FY2015 | +3.7 pp | HON |
| FY2014 | +1.7 pp | HON |
| FY2013 | +3.6 pp | HON |
| FY2012 | +2.0 pp | HON |
| FY2011 | −0.0 pp | LMT |
| FY2010 | −0.0 pp | LMT |
| FY2009 | −1.5 pp | LMT |
| FY2008 | −5.5 pp | LMT |
| FY2007 | −0.2 pp | LMT |
The higher net margin has changed hands between HON and LMT over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HON's net margin has been more volatile than LMT's over the 19 comparable fiscal years — 4.8 percentage points of standard deviation against 1.9.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between HON and LMT over these 19 fiscal years — HON led in 13 and LMT in 6.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LMT's return on equity has been more volatile than HON's over the 17 comparable fiscal years — 115.7 percentage points of standard deviation against 6.0.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
LMT led in return on equity in every one of the 17 comparable fiscal years — a structural lead, not a recent swing.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.