Lockheed Martin Corporation
—- Market cap
- $123.74B
- Debt
- —
- Cash
- −$4.12B
Complete market value, debt and cash evidence is required for enterprise value.
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: LMT stock price at discount vs HWM $536.15 current versus $1.34K implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at HWM's multiple
Implied fair value · at LMT's multiple
Snapshot Sep 8, 2026, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Reported gross margin
Operating income + D&A
Lower is better
Lower P/E
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
Nine period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Complete market value, debt and cash evidence is required for enterprise value.
Capital structure 97% equity / 3% debt · EV / Revenue 11.47x · EV proxy / EBITDA proxy 40.64x
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
LOCKHEED MARTIN CORPORATION · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
HOWMET AEROSPACE INC. · implied price per share
Bear
$35.51
Base
$44.03
Bull
$55.79
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe LMT can sustain its current margins and avoid leverage pressure while HWM-like valuation levels remain justified for HWM, then hold or selectively add; however, if you require DCF support or do not underwrite a major rerating, the data argue against paying above the $275.06 DCF ceiling.
The implied P/E-based price of $1,658.61 is far above LMT's current price of $586.29, implying 182.9% upside, but that result is driven by applying a very rich HWM multiple to LMT. On a relative basis LMT already trades at a much lower P/E than HWM, yet HWM comparison still points to a large uplift because HWM's multiples are extremely elevated.
Supporting Metrics