GE Aerospace (GE)
GE Aerospace designs and services jet engines for commercial and military aircraft following the breakup of the old General Electric. High-margin aftermarket engine servicing drives much of its profitability.
Industrials stock comparison
GE vs LMT: how the two businesses compare
- Bigger business: LMT, with $75.0B of yearly revenue, about 1.6× GE's $45.9B.
- More profitable: GE keeps 19 cents of each sales dollar as profit, against 7 cents at LMT.
- More cash from each sale: GE turns 19 cents of each sales dollar into operating cash flow, against 11 cents at LMT.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Lockheed Martin (LMT) is the larger business by reported revenue: $75.0B in its fiscal year ended Dec 2025, about 1.6× GE's $45.9B (fiscal year ended Dec 2025). GE's net margin was 19.0% and LMT's 6.7%. The SEC classifies them differently (Electronic & Other Electrical Equipment (No Computer Equip); Guided Missiles & Space Vehicles & Parts); what connects them is shared exposure to the Wars & geopolitics research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Industrials
- SEC industry
- Different
- Separate classifications
- Fiscal year ends
- December 31
- Same calendar
- Reviewed
- Jan 29, 2026
GE vs LMT: quick comparison
| Company fact | GE | LMT |
|---|---|---|
| Company | GE Aerospace | Lockheed Martin Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Cincinnati, Ohio | Bethesda, Maryland |
| Founded | 1892 | 1995 |
| SEC industry | Electronic & Other Electrical Equipment (No Computer Equip) | Guided Missiles & Space Vehicles & Parts |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-01-29 | 10-K · 2026-01-29 |
GE vs LMT: audited financials
- Scale: LMT's $75.0B of revenue is about 1.6× GE's $45.9B.
- Net margin: GE kept 19.0% of revenue as net income versus 6.7% at LMT.
- Cash conversion: operating cash flow equalled GE 18.6% of revenue, or 0.98× net income; LMT 11.4% of revenue, or 1.71× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | GE | LMT |
|---|---|---|
| Revenue | $45.9B2025-01-01 to 2025-12-31 · SEC filing | $75.0B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $8.7B2025-01-01 to 2025-12-31 · SEC filing | $5.0B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $8.5B2025-01-01 to 2025-12-31 · SEC filing | $8.6B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $8.142025-01-01 to 2025-12-31 · SEC filing | $21.492025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 19.0%2025-01-01 to 2025-12-31 · SEC filing | 6.7%2025-01-01 to 2025-12-31 · SEC filing |
GE: FY ending 2025-12-31 · LMT: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where GE and LMT overlap, and where they don't
Overlap
- Shared research theme: Wars & geopolitics.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: GE files as Electronic & Other Electrical Equipment (No Computer Equip); LMT as Guided Missiles & Space Vehicles & Parts.
- Scale: LMT reported about 1.6× the annual revenue of GE.
- Profitability: net margin of 19.0% for GE versus 6.7% for LMT.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Lockheed Martin Corporation (LMT)
Lockheed Martin is the world's largest defense contractor, best known for the F-35 fighter program along with missiles, satellites, and space systems. Its revenue is dominated by long-term US government contracts.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves GE
We have not yet published a company-specific driver list for GE. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-01-29.
What moves LMT
- F-35 production, sustainment and international orders; the program was 27% of 2025 sales
- U.S. defense appropriations and the timing of continuing resolutions
- Charges on classified and other fixed-price development programs
- Missile and munitions demand at Missiles and Fire Control
The investment question
You now know LMT reports about 1.6× GE's revenue, and GE keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to wars & geopolitics, including “F-35 production, sustainment and international orders; the program was 27% of 2025 sales” at LMT, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 24 matched transaction rows for GE and 26 matched transaction rows for LMT. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
GE primary filings
LMT primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving GE or LMT
GE vs LMT FAQs
Are GE and LMT direct competitors?
Not necessarily. GE Aerospace files as Electronic & Other Electrical Equipment (No Computer Equip) and Lockheed Martin as Guided Missiles & Space Vehicles & Parts. The pair is compared because both map to the Wars & geopolitics research theme, not because the filings show head-to-head competition.
Is GE or LMT the bigger company by revenue?
Lockheed Martin (LMT) is the larger business by reported revenue: $75.0B in its fiscal year ended Dec 2025, about 1.6× GE's $45.9B (fiscal year ended Dec 2025). GE's net margin was 19.0% and LMT's 6.7%. The SEC classifies them differently (Electronic & Other Electrical Equipment (No Computer Equip); Guided Missiles & Space Vehicles & Parts); what connects them is shared exposure to the Wars & geopolitics research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, GE or LMT?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this GE vs LMT comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers GE Aerospace and Lockheed Martin Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
GE vs LMT compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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