Huntington Ingalls Industries
HII · Aerospace & Defense
$274.08
1.7%L3Harris
LHX · Aerospace & Defense
$253.97
0.1%The short version
- L3Harris is the larger business, with $21.9B of revenue in fiscal 2025 against $12.5B for Huntington Ingalls Industries, about 1.8 times as much.
- Huntington Ingalls Industries grew revenue faster (8.2%, against 2.5%).
- L3Harris kept more of each dollar of sales as operating profit (9.7% operating margin, against 5.3% operating margin).
- L3Harris turned more of its sales into free cash flow (12.3% FCF margin, against 6.4% FCF margin).
- Huntington Ingalls Industries earned a higher return on the capital invested in it (7.3%, against 5.8%).
- Investors pay more for each dollar of L3Harris’s earnings: a P/E of 25.6x against 16.3x for Huntington Ingalls Industries.
| Latest fiscal year | HII · FY25 | LHX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.8B | $47.6B |
| Revenue | $12.5B | $21.9B |
| Free cash flow | $794M | $2.7B |
| Net income | $605M | $1.6B |
| Growth | ||
| Revenue growth | 8.2% | 2.5% |
| 5-year growth | 5.9% | 3.7% |
| Share count change | −0.3% | −1.2% |
| Profitability | ||
| Gross margin | — | 25.7% |
| Operating margin | 5.3% | 9.7% |
| Net margin | 4.9% | 7.4% |
| FCF margin | 6.4% | 12.3% |
| Return on capital | 7.3% | 5.8% |
| Return on equity | 12.4% | 8.2% |
| Balance sheet | ||
| Net debt | $1.9B | $10.0B |
| Net debt / EBITDA | 2.0x | 3.0x |
| Dividends and buybacks | $213M | $2.1B |
| Valuation & quality | ||
| P/E | 16.3x | 25.6x |
| Piotroski F-score | 7 | 8 |
FY16
HII $7.1B
LHX $6.0B
FY17
HII $7.4B
LHX $5.9B
FY18
HII $8.2B
LHX $6.2B
FY19
HII $8.9B
LHX $6.8B
FY20
HII $9.4B
LHX $18.2B
FY21
HII $9.5B
LHX $17.8B
FY22
HII $10.7B
LHX $17.1B
FY23
HII $11.5B
LHX $19.4B
FY24
HII $11.5B
LHX $21.3B
FY25
HII $12.5B
LHX $21.9B
HII
LHX
FY16
HII 12.4%
LHX 17.6%
FY17
HII 11.8%
LHX 18.2%
FY18
HII 11.6%
LHX 18.2%
FY19
HII 8.3%
LHX 21.3%
FY20
HII 8.5%
LHX 11.9%
FY21
HII 5.4%
LHX 11.8%
FY22
HII 5.3%
LHX 6.6%
FY23
HII 6.8%
LHX 7.3%
FY24
HII 4.6%
LHX 9.0%
FY25
HII 5.3%
LHX 9.7%
HII
LHX
FY16
HII $537M
LHX $772M
FY17
HII $432M
LHX $450M
FY18
HII $451M
LHX $615M
FY19
HII $366M
LHX $1.0B
FY20
HII $740M
LHX $2.4B
FY21
HII $429M
LHX $2.3B
FY22
HII $482M
LHX $1.9B
FY23
HII $678M
LHX $1.6B
FY24
HII $26.0M
LHX $2.2B
FY25
HII $794M
LHX $2.7B
HII
LHX
FY16
HII 31.4%
LHX 9.8%
FY17
HII 24.0%
LHX 11.5%
FY18
HII 33.5%
LHX 13.1%
FY19
HII 22.1%
LHX 18.9%
FY20
HII 23.4%
LHX 10.8%
FY21
HII 10.5%
LHX 6.6%
FY22
HII 8.0%
LHX 3.7%
FY23
HII 10.4%
LHX 5.0%
FY24
HII 7.0%
LHX 5.8%
FY25
HII 7.3%
LHX 5.8%
HII
LHX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.