Elbit Systems vs Huntington Ingalls Industries
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The short version
- Huntington Ingalls Industries is the larger business, with $12.5B of revenue in fiscal 2025 against $7.9B for Elbit Systems, about 1.6 times as much.
- Elbit Systems grew revenue faster (16.3%, against 8.2%).
- Elbit Systems kept more of each dollar of sales as operating profit (8.5% operating margin, against 5.3%).
- Elbit Systems turned more of its sales into free cash flow (7.0% FCF margin, against 6.4%).
- Elbit Systems earned a higher return on the capital invested in it (18.0%, against 7.3%).
| Latest fiscal year | ESLT · FY25 | HII · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.5B | $10.8B |
| Revenue | $7.9B | $12.5B |
| Free cash flow | $553M | $794M |
| Net income | $534M | $605M |
| Growth | ||
| Revenue growth | 16.3% | 8.2% |
| 5-year growth | 11.2% | 5.9% |
| Share count change | 4.9% | −0.3% |
| Profitability | ||
| Gross margin | 24.4% | — |
| Operating margin | 8.5% | 5.3% |
| Net margin | 6.7% | 4.9% |
| FCF margin | 7.0% | 6.4% |
| Return on capital | 18.0% | 7.3% |
| Return on equity | 14.4% | 12.4% |
| Balance sheet | ||
| Net debt | −$534M | $1.9B |
| Net debt / EBITDA | −0.6x | 2.0x |
| Dividends and buybacks | $112M | $213M |
| Valuation & quality | ||
| P/E | — | 16.3x |
| Piotroski F-score | 8 | 7 |
Revenue
FY16
ESLT $3.3B
HII $7.1B
FY17
ESLT $3.4B
HII $7.4B
FY18
ESLT $3.7B
HII $8.2B
FY19
ESLT $4.5B
HII $8.9B
FY20
ESLT $4.7B
HII $9.4B
FY21
ESLT $5.3B
HII $9.5B
FY22
ESLT $5.5B
HII $10.7B
FY23
ESLT $6.0B
HII $11.5B
FY24
ESLT $6.8B
HII $11.5B
FY25
ESLT $7.9B
HII $12.5B
ESLT
HII
Operating margin
FY16
ESLT 9.4%
HII 12.4%
FY17
ESLT 9.6%
HII 11.8%
FY18
ESLT 8.0%
HII 11.6%
FY19
ESLT 7.1%
HII 8.3%
FY20
ESLT 7.0%
HII 8.5%
FY21
ESLT 7.9%
HII 5.4%
FY22
ESLT 6.7%
HII 5.3%
FY23
ESLT 6.2%
HII 6.8%
FY24
ESLT 7.2%
HII 4.6%
FY25
ESLT 8.5%
HII 5.3%
ESLT
HII
Free cash flow
FY16
ESLT $83.8M
HII $537M
FY17
ESLT −$7.0M
HII $432M
FY18
ESLT $89.4M
HII $451M
FY19
ESLT −$191M
HII $366M
FY20
ESLT $147M
HII $740M
FY21
ESLT $228M
HII $429M
FY22
ESLT $35.0M
HII $482M
FY23
ESLT −$73.3M
HII $678M
FY24
ESLT $320M
HII $26.0M
FY25
ESLT $553M
HII $794M
ESLT
HII
Return on capital
FY16
ESLT 17.6%
HII 31.4%
FY17
ESLT 16.4%
HII 24.0%
FY18
ESLT 13.7%
HII 33.5%
FY19
ESLT 12.8%
HII 22.1%
FY20
ESLT 11.5%
HII 23.4%
FY21
ESLT 10.9%
HII 10.5%
FY22
ESLT 12.3%
HII 8.0%
FY23
ESLT 11.7%
HII 10.4%
FY24
ESLT 14.5%
HII 7.0%
FY25
ESLT 18.0%
HII 7.3%
ESLT
HII
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.