WIDE MOAT STOCKS COMPARISON

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Stock Comparison

Lockheed Martin Corporation vs Northrop Grumman Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Lockheed Martin Corporation

LMT · New York Stock Exchange

Market cap (USD)$121.2B
Gross margin (TTM)11.8%
Operating margin (TTM)11.9%
Net margin (TTM)8.2%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2026-08-23
84/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into Lockheed Martin Corporation's moat claims, evidence, and risks.

View LMT analysis

Northrop Grumman Corporation

NOC · New York Stock Exchange

Market cap (USD)$73.2B
Gross margin (TTM)20.1%
Operating margin (TTM)10.2%
Net margin (TTM)10.5%
SectorIndustrials
IndustryAerospace & Defense
CountryUS
Data as of2026-08-23
67/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into Northrop Grumman Corporation's moat claims, evidence, and risks.

View NOC analysis

Comparison highlights

  • Moat score gap: Lockheed Martin Corporation leads (84 / 100 vs 67 / 100 for Northrop Grumman Corporation).
  • Segment focus: Lockheed Martin Corporation has 4 segments (39.6% in Aeronautics); Northrop Grumman Corporation has 4 segments (32% in Aeronautics Systems).
  • Moat breadth: Lockheed Martin Corporation has 3 moat types across 2 domains; Northrop Grumman Corporation has 3 across 2.

Primary market context

Lockheed Martin Corporation

Aeronautics

Market

Military fixed-wing aircraft (fighters and air mobility) plus sustainment and upgrades

Geography

Global (primarily U.S. and allied governments)

Customer

Defense ministries and armed services (direct and via foreign military sales)

Role

Prime contractor / OEM / systems integrator

Revenue share

39.6%

Northrop Grumman Corporation

Aeronautics Systems

Market

Military aircraft systems (manned & unmanned) plus sustainment/modernization

Geography

Global (primarily United States and allies)

Customer

U.S. government and allied governments

Role

Prime contractor and major subsystem supplier

Revenue share

32%

Side-by-side metrics

Lockheed Martin Corporation
Northrop Grumman Corporation
Ticker / Exchange
LMT - New York Stock Exchange
NOC - New York Stock Exchange
Market cap (USD)
$121.2B
$73.2B
Gross margin (TTM)
11.8%
20.1%
Operating margin (TTM)
11.9%
10.2%
Net margin (TTM)
8.2%
10.5%
Sector
Industrials
Industrials
Industry
Aerospace & Defense
Aerospace & Defense
HQ country
US
US
Primary segment
Aeronautics
Aeronautics Systems
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
84 / 100
67 / 100
Moat domains
Demand, Supply
Demand, Supply
Last update
2026-09-05
2026-09-05

Moat coverage

Shared moat types

Design In QualificationCapacity Moat

Lockheed Martin Corporation strengths

Service Field Network

Northrop Grumman Corporation strengths

Switching Costs General

Segment mix

Lockheed Martin Corporation segments

Full profile >

Aeronautics

Oligopoly

39.6%

Missiles and Fire Control

Oligopoly

20.3%

Rotary and Mission Systems

Oligopoly

21.9%

Space

Oligopoly

18.2%

Northrop Grumman Corporation segments

Full profile >

Aeronautics Systems

Oligopoly

32%

Defense Systems

Oligopoly

18.7%

Mission Systems

Oligopoly

25.6%

Space Systems

Oligopoly

23.7%

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.