Which has the lower trailing P/E, LMT or UNP?

LMT has the lower trailing P/E: LMT trades at 19.42 and UNP at 23.01. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, LMT or UNP?

Over the past five years, UNP grew revenue faster — LMT at a 2.88% CAGR versus UNP at 4.32%.

Does LMT or UNP pay a bigger dividend?

LMT yields 2.63% and UNP yields 1.95% based on trailing dividends and the latest price.

Is LMT or UNP more profitable?

UNP runs the higher net margin — LMT at 8.16% versus UNP at 28.85%.

How have LMT and UNP total returns compared?

Over the past 10 years, LMT delivered 11.12% and UNP delivered 14.35% annualized total return. Past performance doesn't predict future results.

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

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 September 13, 2026. Differences are shown without an overall score or investment verdict.

LMT

Lockheed Martin Corporation

$121.61B

$526.93IndustrialsDelayed quote: Sep 15, 2026, 10:15 AM EDT

UNP

Union Pacific Corporation

$168.82B

$284.17IndustrialsDelayed quote: Sep 15, 2026, 10:15 AM EDT

Total return — LMT vs UNP

growth of $100 · dividends reinvested · last 10y

LMT +192.4% (+11.3%/yr)UNP +268.0% (+13.9%/yr)UNP compounded faster over this window

LMT UNP

LMT vs UNP: by the numbers

•UNP is the larger company ($168.82B vs $121.61B market cap).
•LMT trades at the lower trailing earnings multiple (19.42 vs 23.01 P/E), one valuation lens rather than an overall verdict.
•UNP converts more revenue to profit (28.85% vs 8.16% net margin).
•UNP grew revenue faster over the past five years (4.32% vs 2.88% CAGR).
•LMT pays the higher dividend yield (2.63% vs 1.95%).

Metrics side by side

Valuation

Metric	LMT	UNP
P/E ratio	19.42	23.01
Forward P/E	17.32	21.74
P/S ratio	1.58	6.64
P/B ratio	13.87	8.17
EV / EBITDA	12.76	15.66
FCF yield	7.18%	3.85%

Profitability

Metric	LMT	UNP
Gross margin	11.80%	59.38%
Operating margin	11.88%	39.93%
Net margin	8.16%	28.85%
ROE	71.70%	35.46%
ROIC	20.07%	11.65%

Dividends

Metric	LMT	UNP
Dividend yield	2.63%	1.95%
Payout ratio	50.87%	45.02%

Growth (annualized)

Metric	LMT	UNP
Revenue CAGR (5Y)	2.88%	4.32%
EPS CAGR (5Y)	-2.44%	8.74%
FCF CAGR (5Y)	11.90%	-0.41%
Total return CAGR (5Y)	11.61%	8.68%

Frequently asked

Which has the lower trailing P/E, LMT or UNP?: LMT has the lower trailing P/E: LMT trades at 19.42 and UNP at 23.01. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, LMT or UNP?: Over the past five years, UNP grew revenue faster — LMT at a 2.88% CAGR versus UNP at 4.32%.
Does LMT or UNP pay a bigger dividend?: LMT yields 2.63% and UNP yields 1.95% based on trailing dividends and the latest price.
Is LMT or UNP more profitable?: UNP runs the higher net margin — LMT at 8.16% versus UNP at 28.85%.
How have LMT and UNP total returns compared?: Over the past 10 years, LMT delivered 11.12% and UNP delivered 14.35% annualized total return. 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 ROIC Stocks Highest Operating Margin 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 September 13, 2026.