Lockheed MartinXSWX:LMT +1.59%73 PB Ratio is 16.24 as of Jun. 27, 2026, which is 12% below its 10-year median of 18.51. GuruFocus rates XSWX:LMT with a GF Score™ of 73/100 and a GF Value™ of CHF447.85. The stock has 3 warning signs investors should review. Among 339 Aerospace & Defense companies, Lockheed Martin ranks worse than 92.92% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-27), Lockheed Martin's share price is CHF415.50. Lockheed Martin's Book Value per Share for the quarter that ended in Mar. 2026 was CHF25.58. Hence, Lockheed Martin's PB Ratio of today is 16.24.
Good Sign:
Lockheed Martin Corp stock PB Ratio (=15.61) is close to 2-year low of 15.07.
The historical rank and industry rank for Lockheed Martin's PB Ratio or its related term are showing as below:
XSWX:LMT'
s PB Ratio Range Over the Past 10 Years
Min: 8.46 Med: 18.51 Max: 236.8
Current: 15.61
During the past 13 years, Lockheed Martin's highest PB Ratio was 236.80. The lowest was 8.46. And the median was 18.51.
XSWX:LMT's PB Ratio is ranked worse than 92.92% of 339
companies
in the Aerospace & Defense industry
Industry Median: 3.59
vs XSWX:LMT: 15.61
During the past 12 months, Lockheed Martin's average Book Value Per Share Growth Rate was 13.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -7.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 0.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Lockheed Martin was 337.80% per year. The lowest was -77.80% per year. And the median was 2.20% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Lockheed Martin PB Ratio Related Terms
Lockheed Martin PB Ratio Historical Data
* Premium members only.
The historical data trend for Lockheed Martin's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Aerospace & Defense subindustry, Lockheed Martin's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lockheed Martin PB Ratio vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Lockheed Martin's PB Ratio distribution charts can be found below:
* The bar in red indicates where Lockheed Martin's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Lockheed Martin's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Lockheed Martin (XSWX:LMT) has a PB Ratio of 16.24 as of Jun. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Lockheed Martin and its competitors. This is 12% below median its historical median of 18.51. Over the past decade, Lockheed Martin's PB Ratio has ranged from 8.46 to 236.80. According to the industry distribution chart, Lockheed Martin ranks #315 out of 339 companies in the Aerospace & Defense industry, placing it in the top 92.9%.
Is Lockheed Martin's PB Ratio too high?
Lockheed Martin's current PB Ratio of 16.24 is 12% below median its 10-year median of 18.51. Over the past 10 years, this metric has ranged from a low of 8.46 to a high of 236.80. The Aerospace & Defense industry median PB Ratio is 3.59. Lockheed Martin's value of 16.24 is 352.4% above this industry median. Based on the distribution chart, Lockheed Martin ranks #315 out of 339 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Lockheed Martin has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does Lockheed Martin's PB Ratio compare to HWM and GD?
According to the Aerospace & Defense industry distribution chart, Lockheed Martin ranks #315 out of 339 companies for PB Ratio. This places Lockheed Martin in the lower half of its industry. The industry median PB Ratio is 3.59. Lockheed Martin's value of 16.24 is 352.4% above this benchmark. Historically, Lockheed Martin's own PB Ratio has ranged from 8.46 to 236.80 over the past decade. While the company's 10-year median is 18.51 vs. the industry median of 3.59, Lockheed Martin has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for an Aerospace & Defense company?
The median PB Ratio among Aerospace & Defense companies is 3.59, based on 339 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lockheed Martin's current PB Ratio of 16.24 is 352.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Lockheed Martin and its competitors. For the Aerospace & Defense industry, the median PB Ratio is 3.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lockheed Martin's current PB Ratio is 16.24, which is 12% below median its own 10-year median of 18.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lockheed Martin stock overvalued right now?
Lockheed Martin (XSWX:LMT) has a current PB Ratio of 16.24. The stock's GF Value™ is CHF447.85, compared to a current price of CHF415.50 — trading 7.2% below its estimated fair value. The current PB Ratio is 16.24, which is 12% below median its 10-year median of 18.51 and 352.4% above the Aerospace & Defense industry median of 3.59. Lockheed Martin's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Lockheed Martin (XSWX:LMT), the current PB Ratio is 16.24 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lockheed Martin (XSWX:LMT) Overvalued in 2026?
Based on GuruFocus' analysis, Lockheed Martin stock appears to be undervalued.
The current stock price of CHF415.50 is trading 7.2% below its estimated GF Value™ of CHF447.85.
Key valuation signals for XSWX:LMT:
PB Ratio: 16.24 (12% below median its 10-year median of 18.51)
GF Value™: CHF447.85 vs. price of CHF415.50 (7.2% below fair value)
Industry Position: 352.4% above the Aerospace & Defense median (#315 of 339)
No single metric tells the full story. See the XSWX:LMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lockheed Martin is the world's largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001. Aeronautics is Lockheed's largest segment, which derives upward of two-thirds of its revenue from the F-35. Lockheed's remaining segments are rotary and mission systems, mainly encompassing the Sikorsky helicopter business; missiles and fire control, which creates missiles and missile defense systems; and space systems, which produces satellites and receives equity income from the United Launch Alliance joint venture.
73GF Score
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