Lockheed MartinXSWX:LMT -0.33%83 Return-on-Tangible-Asset is 13.10% as of Mar. 2026, which is 17% below its 10-year median of 15.72. GuruFocus rates XSWX:LMT with a GF Score™ of 83/100 and a GF Value™ of CHF439.44. The stock has 3 warning signs investors should review. Among 356 Aerospace & Defense companies, Lockheed Martin ranks better than 85.67% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Lockheed Martin's annualizedNet Income for the quarter that ended in Mar. 2026 was CHF4,686 Mil. Lockheed Martin's average total tangible assets for the quarter that ended in Mar. 2026 was CHF35,766 Mil. Therefore, Lockheed Martin's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 13.10%.
The historical rank and industry rank for Lockheed Martin's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:LMT'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 6.04 Med: 15.72 Max: 19.37
Current: 10.58
During the past 13 years, Lockheed Martin's highest Return-on-Tangible-Asset was 19.37%. The lowest was 6.04%. And the median was 15.72%.
XSWX:LMT's Return-on-Tangible-Asset is ranked better than 85.67% of 356
companies
in the Aerospace & Defense industry
Industry Median: 3.085
vs XSWX:LMT: 10.58
Lockheed Martin (XSWX:LMT) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Lockheed Martin Return-on-Tangible-Asset Related Terms
Lockheed Martin Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Lockheed Martin's Return-on-Tangible-Asset 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.
XSWX:LMT vs HWM, GD, TDG: Return-on-Tangible-Asset Comparison
For the Aerospace & Defense subindustry, Lockheed Martin's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Lockheed Martin's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Lockheed Martin's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 13.10% mean?
Lockheed Martin (XSWX:LMT) has a Return-on-Tangible-Asset of 13.10% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Lockheed Martin and its competitors. This is 17% below median its historical median of 15.72. Over the past decade, Lockheed Martin's Return-on-Tangible-Asset has ranged from 6.04 to 19.37. According to the industry distribution chart, Lockheed Martin ranks #51 out of 356 companies in the Aerospace & Defense industry, placing it in the top 14.3%.
Is Lockheed Martin's Return-on-Tangible-Asset too high?
Lockheed Martin's current Return-on-Tangible-Asset of 13.10% is 17% below median its 10-year median of 15.72. Over the past 10 years, this metric has ranged from a low of 6.04 to a high of 19.37. The Aerospace & Defense industry median Return-on-Tangible-Asset is 3.09. Lockheed Martin's value of 13.10% is 324.6% above this industry median. Based on the distribution chart, Lockheed Martin ranks #51 out of 356 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Lockheed Martin has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Lockheed Martin's Return-on-Tangible-Asset compare to HWM and GD?
According to the Aerospace & Defense industry distribution chart, Lockheed Martin ranks #51 out of 356 companies for Return-on-Tangible-Asset. This places Lockheed Martin in the top 14% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.09. Lockheed Martin's value of 13.10% is 324.6% above this benchmark. Historically, Lockheed Martin's own Return-on-Tangible-Asset has ranged from 6.04 to 19.37 over the past decade. While the company's 10-year median is 15.72 vs. the industry median of 3.09, 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 Return-on-Tangible-Asset for an Aerospace & Defense company?
The median Return-on-Tangible-Asset among Aerospace & Defense companies is 3.09, based on 356 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lockheed Martin's current Return-on-Tangible-Asset of 13.10% is 324.6% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Lockheed Martin and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Asset is 3.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lockheed Martin's current Return-on-Tangible-Asset is 13.10%, which is 17% below median its own 10-year median of 15.72. 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 Return-on-Tangible-Asset of 13.10%. The stock's GF Value™ is CHF439.44, compared to a current price of CHF419.05 — trading 4.6% below its estimated fair value. The current Return-on-Tangible-Asset is 13.10%, which is 17% below median its 10-year median of 15.72 and 324.6% above the Aerospace & Defense industry median of 3.09. Lockheed Martin's overall GF Score™ is 83/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Lockheed Martin (XSWX:LMT), the current Return-on-Tangible-Asset is 13.10% as of Mar. 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 CHF419.05 is trading 4.6% below its estimated GF Value™ of CHF439.44.
Key valuation signals for XSWX:LMT:
Return-on-Tangible-Asset: 13.10% (17% below median its 10-year median of 15.72)
GF Value™: CHF439.44 vs. price of CHF419.05 (4.6% below fair value)
Industry Position: 324.6% above the Aerospace & Defense median (#51 of 356)
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.
83GF Score
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