New Mexico is about 1.2 times smaller than Montana.

Montana is approximately 376,979 sq km, while New Mexico is approximately 314,310 sq km, making New Mexico 83.38% the size of Montana. Meanwhile, the population of Montana is ~989,415 people (1.1 million more people live in New Mexico).
Tip: This to-scale comparison of Montana vs. New Mexico uses the Mercator projection, which distorts the size of regions near the poles.