Is LMT or UNP cheaper?

On trailing earnings, UNP is cheaper: LMT trades at a 26.17 P/E and UNP at 22.46.

Which has grown faster, LMT or UNP?

Over the past five years, UNP grew revenue faster — LMT at a 2.62% CAGR versus UNP at 5.05%.

Does LMT or UNP pay a bigger dividend?

LMT yields 2.53% and UNP yields 2.02% based on trailing dividends and the latest price.

Is LMT or UNP more profitable?

UNP runs the higher net margin — LMT at 6.38% versus UNP at 29.20%.

Which has been the better investment, LMT or UNP?

Over the past 10-year, UNP delivered the higher annualized total return — LMT at 11.34% versus UNP at 14.35%. Past performance doesn't predict future results.

Lockheed Martin Corporation (LMT) vs Union Pacific Corporation (UNP)

UNP leads on 9 of 16 compared metrics.

A side-by-side comparison of Lockheed Martin Corporation and Union Pacific 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).

LMT

Lockheed Martin Corporation

$124.58B

$540.33Industrials

UNP

Union Pacific Corporation

$161.91B

$272.70Industrials

Total return — LMT vs UNP

growth of $100 · last 30y

LMT +1190.2%UNP +2250.9%UNP compounded faster

LMT UNP

LMT vs UNP: by the numbers

•UNP is the larger company ($161.91B vs $124.58B market cap).
•UNP trades at the lower earnings multiple (22.46 vs 26.17 P/E).
•UNP converts more revenue to profit (29.20% vs 6.38% net margin).
•UNP grew revenue faster over the past five years (5.05% vs 2.62% CAGR).
•LMT pays the higher dividend yield (2.53% vs 2.02%).

Which is better, LMT or UNP?

Metric tally: LMT 7 · UNP 9

It depends on what you're optimizing for:

ValueUNP(lower P/E)

GrowthUNP(faster 5Y revenue CAGR)

IncomeLMT(higher dividend yield)

QualityLMT(higher ROIC)

Valuation

Metric	LMT	UNP
P/E ratio	26.17	22.46●
Forward P/E	16.87●	19.87
P/S ratio	1.66●	6.55
P/B ratio	16.67	8.34●
PEG ratio	—	2.34
EV / EBITDA	16.97	14.73●
FCF yield	4.54%●	3.52%

Profitability

Metric	LMT	UNP
Gross margin	9.82%	45.67%●
Operating margin	9.88%	40.09%●
Net margin	6.38%	29.20%●
ROE	64.00%●	37.15%
ROIC	17.39%●	11.70%

Dividends

Metric	LMT	UNP
Dividend yield	2.53%●	2.02%
Payout ratio	63.31%	45.96%

Growth (annualized)

Metric	LMT	UNP
Revenue CAGR (5Y)	2.62%	5.05%●
EPS CAGR (5Y)	-2.44%	8.74%●
FCF CAGR (5Y)	-0.69%	0.04%●
Total return CAGR (5Y)	9.78%●	6.62%

Frequently asked

Which is better, LMT or UNP?: It depends on your goal. value: UNP (lower P/E); growth: UNP (faster 5Y revenue CAGR); income: LMT (higher dividend yield); quality: LMT (higher ROIC). Across all compared metrics, UNP leads 9 to 7.
Is LMT or UNP cheaper?: On trailing earnings, UNP is cheaper: LMT trades at a 26.17 P/E and UNP at 22.46.
Which has grown faster, LMT or UNP?: Over the past five years, UNP grew revenue faster — LMT at a 2.62% CAGR versus UNP at 5.05%.
Does LMT or UNP pay a bigger dividend?: LMT yields 2.53% and UNP yields 2.02% based on trailing dividends and the latest price.
Is LMT or UNP more profitable?: UNP runs the higher net margin — LMT at 6.38% versus UNP at 29.20%.
Which has been the better investment, LMT or UNP?: Over the past 10-year, UNP delivered the higher annualized total return — LMT at 11.34% versus UNP at 14.35%. Past performance doesn't predict future results.

Go deeper

Full LMT analysis Full UNP analysis Interactive comparison tool

Dig into the metrics

Lockheed Martin P/E ratio Union Pacific P/E ratio Lockheed Martin dividend yield Union Pacific dividend yield Lockheed Martin ROE Union Pacific ROE Lockheed Martin operating margin Union Pacific operating margin Lockheed Martin revenue growth Union Pacific revenue growth Lockheed Martin free cash flow Union Pacific free cash flow

Lockheed Martin & Union Pacific appear in these rankings

Highest Dividend Yield Stocks Highest ROE Stocks Highest Operating Margin Stocks Highest FCF Yield Stocks

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.