ESP vs LMT vs LHX Stock Comparison

Espey Mfg & Electronics, Lockheed Martin and L3Harris Technologies Prices as of Nov 2, 2026 Peers: Industry group
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LMT Lockheed Martin Corp
$643.06 +27.2% 1M +30.7% 1Y
Market cap
$148.55B
P/E
22.8x
Revenue (TTM)
$79.12B
Div. yield
2.15%
Defense Industrials
3 wins

Head to Head

12 decided of 12

Espey Mfg & Electronics leads on 7 of the 12 questions below (Espey Mfg & Electronics 7, Lockheed Martin 3, L3Harris Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionESPLMTLHXLeader
Larger companyMarket capitalisation $157.89M $148.55B $51.93B LMT
Cheaper on earningsLower P/E, profitable companies only 12.9x 22.8x 25.8x ESP
Cheaper on forward earningsLower price / next fiscal year consensus EPS 13.2x 21.8x 24.4x ESP
Faster revenue growthRevenue growth, trailing twelve months +4.9% +7.9% +81.9% LHX
More profitableNet margin, trailing twelve months 24.2% 8.2% 5.1% ESP
Better return on capitalReturn on invested capital — 26.5% 12.2% LMT
Less leveragedLower net debt / EBITDA — 1.3x 1.5x LMT
Higher dividend yieldTrailing dividend yield 2.89% 2.15% 1.78% ESP
Better 1-year returnPrice return, last 12 months +38.6% +30.7% -3.5% ESP
Better 5-year returnAnnualised price return, 5 years +28.6%/yr +14.2%/yr +4.8%/yr ESP
Less volatileAnnualised volatility, 1 year 46.4% 30.1% 29.2% LHX
Higher overall scoreMean of the five percentile scores vs peers 71/100 59/100 69/100 ESP

Percentile Scorecard

ESPLMTLHX

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisESPLMTLHX
Valuation 87 #14 of 101 67 #34 of 101 92 #9 of 101
Growth 67 #33 of 98 62 #38 of 98 85 #16 of 98
Profitability 83 #17 of 97 89 #12 of 97 74 #26 of 97
Financial Health 64 #39 of 107 39 #66 of 107 43 #62 of 107
Shareholder Returns 54 #30 of 64 41 #38 of 64 52 #31 of 64
Overall 71 59 69
  • ESP ranked among 108 companies in Aerospace and Defense
  • LMT ranked among 108 companies in Aerospace and Defense
  • LHX ranked among 108 companies in Aerospace and Defense

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodESPLMTLHXSPY
1 month -17.3%+27.2%+17.9% -2.3%
3 months -14.8%+9.7%+0.4% -0.7%
6 months -24.4%+24.1%-9.6% +4.8%
Year to date +10.3%+33.0%-5.0% +10.3%
1 year +38.6%+30.7%-3.5% +10.3%
3 years +203.6%+41.8%+50.2% +73.0%
3 years, per year +44.8%+12.4%+14.5% +20.1%
5 years +251.5%+94.1%+26.1% +61.9%
5 years, per year +28.6%+14.2%+4.8% +10.1%
10 years +107.8%+162.4%+199.3% +258.6%
10 years, per year +7.6%+10.1%+11.6% +13.6%

Risk

MeasureESPLMTLHXSPY
Volatility, 1Y 46.4%30.1%29.2% 12.8%
Downside volatility, 1Y 50.7%26.7%29.1% 12.8%
Beta vs S&P 500, 1Y 0.89-0.070.20 1.00
Return / volatility, 1Y 0.831.02-0.12 0.80
Max drawdown, 5Y -34.6%-33.2%-40.4% -25.4%
From 52-week high -28.0%-5.0%-26.3% -3.5%
52-week high $72.22$676.70$378.48 $779.14
52-week low $37.20$439.19$233.68 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleESPLMTLHX
P/E now vs peer median 12.9xmedian 26.9x 22.8xmedian 26.9x 25.8xmedian 26.9x
P/S now vs peer median 3.4xmedian 2.9x 1.9xmedian 2.9x 1.3xmedian 2.9x
EV/EBITDA now vs peer median 9.3xmedian 14.7x 14.8xmedian 14.7x 11.2xmedian 14.7x
P/FCF now vs peer median 61.2xmedian 27.6x 17.7xmedian 27.6x 14.3xmedian 27.6x
P/B now vs peer median 2.6xmedian 2.5x 14.8xmedian 2.5x 2.6xmedian 2.5x
PEG now vs peer median 0.34median 0.91 65.29median 0.91 2.31median 0.91

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsESPLMTLHX
Revenue $46.12M $79.12B $39.55B
Gross profit $16.28M $9.28B $10.14B
Operating income $11.59M $9.32B $4.20B
Net income $11.18M $6.51B $2.04B
Free cash flow $2.58M $8.38B $3.64B
EPS (diluted) $3.89 $28.13 $10.74
Cash & equivalents $19.44M $5.96B $2.47B
Total debt – $20.50B $11.00B
Shares (diluted) 2.87M 231.50M 187.30M
Enterprise value -$24.29M $132.78B $46.71B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricESPLMTLHX
P/E 12.9x 22.8x 25.8x
P/FCF 61.2x 17.7x 14.3x
P/Operating cash flow 27.7x 14.7x 12.4x
P/S 3.4x 1.9x 1.3x
P/B 2.6x 14.8x 2.6x
P/Tangible book -2.1x 17.8x 3.7x
EV/EBITDA 9.3x 14.8x 11.2x
EV/EBIT 9.7x 17.5x 14.3x
EV/Revenue 2.4x 2.1x 1.5x
EV/FCF 43.6x 19.5x 16.5x
EV/Operating cash flow 19.8x 16.1x 14.3x
PEG (3Y EPS CAGR) 0.34 65.29 2.31

Growth

14 metrics
MetricESPLMTLHX
Revenue growth (1Y) 4.9% 7.9% 81.9%
Revenue CAGR (3Y) 9.0% 5.3% 28.5%
Gross profit growth (1Y) 28.4% 55.0% 81.9%
Gross profit CAGR (3Y) 26.5% 3.0% 27.2%
Operating income growth (1Y) 42.7% 52.8% 83.8%
Operating income CAGR (3Y) 39.2% 3.1% 33.3%
Net income growth (1Y) 37.3% 55.1% 16.0%
Net income CAGR (3Y) 44.9% -2.2% 11.1%
EPS growth (1Y) 28.9% 55.9% 14.8%
EPS CAGR (3Y) 37.8% 0.3% 11.2%
Operating cash flow growth (1Y) -72.9% 59.0% 84.1%
Operating cash flow CAGR (3Y) 13.4% 10.6% 26.1%
Free cash flow growth (1Y) -84.5% 82.5% 92.7%
Free cash flow CAGR (3Y) -8.7% 13.0% 28.7%

Profitability

14 metrics
MetricESPLMTLHX
Gross margin 35.3% 11.7% 25.6%
EBITDA margin 26.2% 13.9% 13.5%
Operating margin 25.1% 11.8% 10.6%
Pretax margin 28.9% 9.7% 10.0%
Net margin 24.2% 8.2% 5.1%
FCF margin 5.6% 10.6% 9.2%
Operating cash flow margin 12.3% 12.8% 10.6%
Return on equity 19.1% 69.2% 10.2%
Return on assets 11.6% 10.3% 4.7%
Return on invested capital – 26.5% 12.2%
Return on capital employed 19.3% 23.9% 12.2%
Asset turnover 0.5x 1.2x 0.9x
Cash conversion (OCF / net income) 0.5x 1.6x 2.0x
Stock comp / revenue 1.5% 0.5% 0.2%

Financial Health

11 metrics
MetricESPLMTLHX
Debt / assets – 31.8% 25.1%
Debt / equity – 2.0x 0.5x
Net debt / EBITDA – 1.3x 1.5x
Debt / FCF – 2.4x 3.0x
Liabilities / assets 37.7% 84.4% 53.8%
Equity / assets 62.3% 15.6% 46.2%
Interest coverage – 8.6x –
Current ratio 2.5x 1.3x 1.2x
Quick ratio 1.5x 1.1x 1.0x
Cash ratio 1.2x 0.2x 0.3x
Altman Z-score 4.68 3.82 2.75

Shareholder Returns

7 metrics
MetricESPLMTLHX
Dividend yield 2.9% 2.1% 1.8%
Net buyback yield -1.3% 0.5% 1.5%
Shareholder yield 1.6% 2.7% 3.3%
Payout ratio (earnings) 43.2% 49.2% 45.5%
Payout ratio (FCF) 187.2% 38.3% 25.5%
Dividend growth (1Y) 86.0% 1.8% 3.3%
Dividend CAGR (3Y) 6.1% 1.6% 2.4%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusESPLMTLHX
Forward P/E 13.2xFY2027 21.8xFY2026 24.4xFY2026
EPS, next fiscal year $3.93FY2027 $29.52FY2026 $11.44FY2026
EPS growth, next FY +1.0%FY2027 +37.4%FY2026 +6.6%FY2026
EPS growth, the year after -2.0% +7.7% +10.6%
Revenue, next fiscal year $49.74MFY2027 $85.91BFY2026 $24.16BFY2026
Revenue growth, next FY +7.8%FY2027 +14.5%FY2026 +10.5%FY2026
Revenue growth, the year after +14.5% +4.1% +0.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESPLMTLHX
Held by institutions 35.4% 75.5% 87.5%
Institutions holding 78 2,783 1,693
Change in shares held, QoQ +15.0% +0.4% -0.5%
Institutions buying 50 1,337 849
Institutions selling 13 1,029 570
Buyers to sellers 3.85 1.30 1.49

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ESPLMTLHX
ESP 1.00 -0.01 0.07
LMT -0.01 1.00 0.62
LHX 0.07 0.62 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESP, LMT and LHX?

Lockheed Martin (LMT) is the largest by market capitalisation: Espey Mfg & Electronics (ESP) $157.89M, Lockheed Martin (LMT) $148.55B, L3Harris Technologies (LHX) $51.93B.

Which stock is cheaper, ESP, LMT and LHX?

Espey Mfg & Electronics (ESP) trades on the lowest price-to-earnings ratio (Espey Mfg & Electronics (ESP) 12.9x, Lockheed Martin (LMT) 22.8x, L3Harris Technologies (LHX) 25.8x). On next year's consensus earnings, Espey Mfg & Electronics (ESP) is cheapest (Espey Mfg & Electronics (ESP) 13.2x, Lockheed Martin (LMT) 21.8x, L3Harris Technologies (LHX) 24.4x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

L3Harris Technologies (LHX) grew revenue fastest over the trailing twelve months: Espey Mfg & Electronics (ESP) +4.9%, Lockheed Martin (LMT) +7.9%, L3Harris Technologies (LHX) +81.9%.

Which company is more profitable?

Espey Mfg & Electronics (ESP) has the highest net margin (Espey Mfg & Electronics (ESP) 24.2%, Lockheed Martin (LMT) 8.2%, L3Harris Technologies (LHX) 5.1%). On return on invested capital, Lockheed Martin (LMT) leads (Lockheed Martin (LMT) 26.5%, L3Harris Technologies (LHX) 12.2%).

Which stock has performed better?

Over the past year Espey Mfg & Electronics (ESP) returned the most: Espey Mfg & Electronics (ESP) +38.6%, Lockheed Martin (LMT) +30.7%, L3Harris Technologies (LHX) -3.5%. Over five years, Espey Mfg & Electronics (ESP) compounded fastest (Espey Mfg & Electronics (ESP) +28.6%/yr, Lockheed Martin (LMT) +14.2%/yr, L3Harris Technologies (LHX) +4.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Espey Mfg & Electronics (ESP) has the highest dividend yield: Espey Mfg & Electronics (ESP) 2.89%, Lockheed Martin (LMT) 2.15%, L3Harris Technologies (LHX) 1.78%.

Which stock is riskier?

By one-year price volatility, L3Harris Technologies (LHX) has been the steadiest (Espey Mfg & Electronics (ESP) 46.4%, Lockheed Martin (LMT) 30.1%, L3Harris Technologies (LHX) 29.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ESP, LMT and LHX?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Espey Mfg & Electronics (ESP) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.