L3Harris
LHX NYSE· Aerospace & Defense
Last close · Oct 26, 2026
$260.23
KIRA · Stoqly’s AI analyst, in plain words
- L3Harris had $21.9B of revenue in fiscal 2025, up 2.5% on the year before. Over five years, revenue changed +3.7% a year on average.
- Its operating margin was 9.7%, up 0.7 pts: of every 100 in sales, about 10 is left after running the business.
- L3Harris made $1.6B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 14.2% a year.
- Free cash flow was $2.7B in fiscal 2025, 12.3% of revenue.
- L3Harris returned $2.1B to shareholders in fiscal 2025, 77% of free cash flow. The diluted share count fell 1.2%.
- L3Harris owes $10.0B more than it holds in cash, about 3.0 years of operating profit.
Market cap
$48.7B
P/E
26.2x
Revenue
$21.9B
Net income
$1.6B
Free cash flow
$2.7B
Operating margin
9.7%
L3Harris in 30 seconds · fiscal 2025
Are sales growing?
+2.5%
Only a little. Sales grew 2.5% last year.
Does it make a profit?
7.4%
A little. It keeps 7.4% of every sale as profit.
Does profit turn into cash?
12.3%
Yes. 12.3% of sales ends up as free cash.
Is debt under control?
3.0x
Heavy. Repaying its debt would take 3.0 years of operating profit.
How healthy are the accounts?
8 / 9
Solid. It passes 8 of 9 health tests.
How is the share priced?
26.2x
One share costs 26.2 times its yearly profit per share. Typical for its sector: 26.0x.
What L3Harris does
L3Harris makes defense technology: secure radios and communications networks, sensors, space systems, and rocket and missile propulsion. Its largest customers are U.S. Government departments and agencies, the prime contractors (main contractors) that work for them, and allied governments, and it serves customers in more than 100 countries. Sales to U.S. Government customers, including foreign military sales the U.S. Government funds, made up 75% of fiscal 2025 revenue. Revenue from customers outside the U.S., counting those same foreign military sales, was $4.8 billion, or 22%. In fiscal 2025 it reported four segments. Communication Systems makes tactical radios, night vision goggles, and radios for first responders and other public agencies. Integrated Mission Systems builds surveillance and targeting systems for aircraft, and power, sensor and autonomous systems for navy vessels.
Biggest risks, in its own words
- Its heavy reliance on U.S. Government defense contracts, which it must keep winning in competitive bidding.
- Cuts or shifts in U.S. Government spending, or delays and shutdowns in the federal budget process.
- Losses from cost overruns on fixed-price contracts, especially for development programs.
- Problems at its suppliers and subcontractors, including the limited approved sources of microelectronic parts.
- Fiscal year ends
- January 2, 2026
- Latest annual report
- 10-K · Feb 12, 2026
- Legal name
- L3HARRIS TECHNOLOGIES, INC.
- CIK
- 0000202058
L3Harris · LHX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $17.8B | $17.1B | $19.4B | $21.3B | $21.9B |
| Revenue growth | −2.1% | −4.2% | 13.8% | 9.8% | 2.5% |
| Gross margin | 30.2% | 28.9% | 26.3% | 25.9% | 25.7% |
| Operating margin | 11.8% | 6.6% | 7.3% | 9.0% | 9.7% |
| Net income | $1.8B | $1.1B | $1.2B | $1.5B | $1.6B |
| Net margin | 10.4% | 6.2% | 6.3% | 7.0% | 7.4% |
| Diluted EPS | $9.09 | $5.49 | $6.44 | $7.87 | $8.53 |
| Cash | |||||
| Cash from operations | $2.7B | $2.2B | $2.1B | $2.6B | $3.1B |
| Capital expenditure | $342M | $252M | $449M | $408M | $424M |
| Free cash flow | $2.3B | $1.9B | $1.6B | $2.2B | $2.7B |
| FCF margin | 13.2% | 11.2% | 8.5% | 10.1% | 12.3% |
| Dividends paid | $817M | $864M | $868M | $886M | $903M |
| Share buybacks | $3.7B | $1.1B | $518M | $554M | $1.2B |
| Share count change | −5.9% | −4.8% | −1.5% | 0.1% | −1.2% |
| Debt and strength | |||||
| Cash and short-term investments | $941M | $880M | $560M | $615M | $1.1B |
| Debt incl. finance leases | $7.1B | $7.0B | $13.1B | $12.2B | $11.1B |
| Shareholders' equity | $19.2B | $18.5B | $18.8B | $19.5B | $19.6B |
| Net debt / EBITDA | 2.0x | 3.0x | 4.9x | 3.6x | 3.0x |
| Current ratio | 1.4x | 1.2x | 1.0x | 1.1x | 1.2x |
| Interest coverage | 7.4x | 3.8x | 2.9x | 2.9x | 3.5x |
| Returns and quality | |||||
| Return on capital | 6.6% | 3.7% | 5.0% | 5.8% | 5.8% |
| Return on equity | 9.2% | 5.6% | 6.6% | 7.9% | 8.2% |
| Piotroski F-score | 6 | 5 | 6 | 5 | 8 |
| Altman Z'' | 2.3 | 2.0 | 1.4 | 1.6 | 1.9 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$11.8M
4 insiders
Of sales under plans
100%
$11.8M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
L3Harris · LHX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| L3Harris LHX | $48.7B | 2.5% | 9.7% | 12.3% | 5.8% | 26.2x | 8 |
| Textron TXT | $13.7B | 8.0% | — | 6.3% | — | 14.7x | — |
| Huntington Ingalls Industrie... HII | $11.1B | 8.2% | 5.3% | 6.4% | 7.3% | 16.7x | 7 |
| Northrop Grumman NOC | $80.5B | 2.2% | 10.8% | 7.9% | 13.5% | 17.9x | 6 |
| GE Aerospace GE | $300.3B | 18.5% | — | 15.8% | 35.8% | 33.3x | 5 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $260.23 a share, the company is worth $48.7B: 26.2 times its earnings of the last four quarters.
L3Harris grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 3 of 4.
Source: SEC EDGAR XBRL filings (CIK 0000202058). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.