Cummins Inc. (CMI) vs Lockheed Martin Corporation (LMT)
CMI and LMT are evenly matched — 8 metrics each of 16.
A side-by-side comparison of Cummins Inc. and Lockheed Martin Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 14, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
Total return — CMI vs LMT
growth of $100 · last 30yCMI +6217.8%LMT +1190.2%CMI compounded faster
CMI LMT
CMI vs LMT: by the numbers
- •LMT is the larger company ($124.58B vs $91.01B market cap).
- •LMT trades at the lower earnings multiple (26.17 vs 34.26 P/E).
- •CMI converts more revenue to profit (7.89% vs 6.38% net margin).
- •CMI grew revenue faster over the past five years (10.78% vs 2.62% CAGR).
- •LMT pays the higher dividend yield (2.53% vs 1.21%).
Which is better, CMI or LMT?
Metric tally: CMI 8 · LMT 8It depends on what you're optimizing for:
ValueLMT(lower P/E)
GrowthCMI(faster 5Y revenue CAGR)
IncomeLMT(higher dividend yield)
QualityLMT(higher ROIC)
Valuation
| Metric | CMI | LMT |
|---|---|---|
| P/E ratio | 34.26 | 26.17● |
| Forward P/E | 22.71 | 16.87● |
| P/S ratio | 2.70 | 1.66● |
| P/B ratio | 7.41● | 16.67 |
| PEG ratio | 3.03 | — |
| EV / EBITDA | 20.20 | 16.97● |
| FCF yield | 2.92% | 4.54%● |
Profitability
| Metric | CMI | LMT |
|---|---|---|
| Gross margin | 25.39%● | 9.82% |
| Operating margin | 11.24%● | 9.88% |
| Net margin | 7.89%● | 6.38% |
| ROE | 21.64% | 64.00%● |
| ROIC | 11.41% | 17.39%● |
Dividends
| Metric | CMI | LMT |
|---|---|---|
| Dividend yield | 1.21% | 2.53%● |
| Payout ratio | 38.80% | 63.31% |
Growth (annualized)
| Metric | CMI | LMT |
|---|---|---|
| Revenue CAGR (5Y) | 10.78%● | 2.62% |
| EPS CAGR (5Y) | 11.31%● | -2.44% |
| FCF CAGR (5Y) | 4.25%● | -0.69% |
| Total return CAGR (5Y) | 24.28%● | 9.78% |
Frequently asked
- Which is better, CMI or LMT?
- It depends on your goal. value: LMT (lower P/E); growth: CMI (faster 5Y revenue CAGR); income: LMT (higher dividend yield); quality: LMT (higher ROIC). Across all compared metrics, they are evenly matched.
- Is CMI or LMT cheaper?
- On trailing earnings, LMT is cheaper: CMI trades at a 34.26 P/E and LMT at 26.17.
- Which has grown faster, CMI or LMT?
- Over the past five years, CMI grew revenue faster — CMI at a 10.78% CAGR versus LMT at 2.62%.
- Does CMI or LMT pay a bigger dividend?
- CMI yields 1.21% and LMT yields 2.53% based on trailing dividends and the latest price.
- Is CMI or LMT more profitable?
- CMI runs the higher net margin — CMI at 7.89% versus LMT at 6.38%.
- Which has been the better investment, CMI or LMT?
- Over the past 10-year, CMI delivered the higher annualized total return — CMI at 22.09% versus LMT at 11.34%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Cummins P/E ratioLockheed Martin P/E ratioCummins dividend yieldLockheed Martin dividend yieldCummins ROELockheed Martin ROECummins operating marginLockheed Martin operating marginCummins revenue growthLockheed Martin revenue growthCummins free cash flowLockheed Martin free cash flow
Cummins & Lockheed Martin appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 14, 2026.