Motley Fool contributor Brendan Coffey favors Lockheed Martin over Boeing as a long-term buy, citing forward P/E ratios of 17.3x and 49.7x. Wall Street analysts forecast Boeing’s 2026 net income at about $85 million, with revenue up 9% to $97.7 billion.
In FY2025, Boeing reported about $89.5 billion in revenue and $2.2 billion in net income, recovering from a nearly $12 billion loss in 2024; Lockheed reported $75.1 billion in revenue and just over $5 billion in net income. Free cash flow was negative $1.9 billion at Boeing versus roughly $6.9 billion at Lockheed. Boeing’s backlog rose by double digits to a record in the first quarter of its current fiscal year, but the company faces certification and production delays, FAA scrutiny and supply constraints.
Lockheed’s sales are expected to grow about 5% to $79.1 billion this fiscal year. The F-35 generated about 27% of its 2025 sales, and the Defense Department plans to continue buying the jet into the 2040s. The article flags Lockheed’s dependence on government spending, F-35 concentration and a $4.25 billion federal lawsuit alleging misappropriation of proprietary business models. Its price-to-sales ratio was 1.6x versus Boeing’s 1.7x; the cited valuation data may vary by provider.
