GE Aerospace vs L3Harris
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KIRA’s take AI analyst
I put GE Aerospace and L3Harris side by side, using each one’s latest annual report. Here is what stands out:
- GE Aerospace is the larger business, with $45.9B of revenue in fiscal 2025 against $21.9B for L3Harris, about 2.1 times as much.
- GE Aerospace grew revenue faster (18.5%, against 2.5%).
- GE Aerospace turned more of its sales into free cash flow (15.8% FCF margin, against 12.3%).
- GE Aerospace earned a higher return on the capital invested in it (35.8%, against 5.8%).
- Investors pay more for each dollar of GE Aerospace’s earnings: a P/E of 33.3x against 26.2x for L3Harris.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
GE Aerospace
GE
7/9
Revenue growthNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
L3Harris
LHX
2/9
5-year growthPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | GE FY25 | LHX FY25 |
|---|---|---|
| Size | ||
| Market cap | $300.3B | $48.7B |
| Revenue | $45.9B | $21.9B |
| Free cash flow | $7.3B | $2.7B |
| Net income | $8.7B | $1.6B |
| Growth | ||
| Revenue growth | 18.5% | 2.5% |
| 5-year growth | −9.6% | 3.7% |
| Share count change | −2.4% | −1.2% |
| Profitability | ||
| Gross margin | — | 25.7% |
| Operating margin | — | 9.7% |
| Net margin | 19.0% | 7.4% |
| FCF margin | 15.8% | 12.3% |
| Return on capital | 35.8% | 5.8% |
| Return on equity | 45.8% | 8.2% |
| Balance sheet | ||
| Net debt | $8.1B | $10.0B |
| Net debt / EBITDA | 0.7x | 3.0x |
| Dividends and buybacks | $9.0B | $2.1B |
| Valuation & quality | ||
| P/E | 33.3x | 26.2x |
| Piotroski F-score | 5 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.