L3Harris Technologies, Inc. (LHX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.84	$3.63	+27.8%	—	—	—
Q4 26	$2.57	$2.91	+13.2%	—	—	—
Q3 26	$2.76	$2.86	+3.6%	—	—	—
Q2 26	$2.57	$2.7	+5.1%	—	—	—
Q1 26	$2.5	$2.78	+11.2%	—	—	—
Q4 25	$2.32	$2.41	+3.9%	—	—	—
Q3 25	$3.42	$3.47	+1.5%	—	—	—
Q2 25	$3.26	$3.34	+2.5%	—	—	—
Q1 25	$3.18	$3.24	+1.9%	—	—	—
Q4 24	$2.91	$3.06	+5.2%	—	—	—
Q3 24	$3.31	$3.35	+1.2%	—	—	—
Q2 24	$3.03	$3.19	+5.3%	—	—	—
Q1 24	$2.94	$2.97	+1.0%	—	—	—
Q4 23	$2.85	$2.86	+0.4%	—	—	—
Q3 23	$3.26	$3.27	+0.3%	—	—	—
Q2 23	$3.39	$3.26	-3.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$8.57	—	—	$21.9B	—
FY24	—	$7.91	—	—	$21.3B	—
FY23	—	$6.47	—	—	$19.4B	—
FY22	—	$5.54	—	—	$17.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6B	$5.9B	$6.2B	—	$18.2B	$17.8B	$17.1B	$19.4B	$21.3B	$21.9B
YoY change	+54.2%	-1.59%	+4.6%	—	—	-2.09%	-4.22%	+13.8%	+9.82%	+2.53%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6B	5.9B	6.2B	—	18.2B	17.8B	17.1B	19.4B	21.3B	21.9B
Cost of revenue	3.8B	3.9B	4.1B	—	12.9B	12.4B	12.1B	14.3B	15.8B	16.2B
Gross profit	2.2B	2B	2.1B	—	5.3B	5.4B	4.9B	5.1B	5.5B	5.6B
Gross margin	36%	34.6%	34.1%	—	29.2%	30.2%	28.9%	26.3%	25.9%	25.7%
Research & development	—	—	—	—	—	—	603M	480M	515M	536M
Selling, general & administrative	1.1B	1.1B	1.2B	—	3.3B	3.3B	1.7B	1.9B	2.2B	2.2B
Operating expenses	1.1B	1.1B	1.2B	—	3.3B	3.3B	2.3B	2.4B	2.7B	2.8B
Operating income	1.1B	893M	920M	—	2B	2.1B	2.1B	2B	2.1B	2.1B
Operating margin	17.6%	15.1%	14.9%	—	11%	11.8%	12.2%	10.4%	9.74%	9.83%
Non-operating income, net	10M	166M	156M	—	-417M	452M	-531M	-261M	195M	379M
Pretax income	884M	889M	908M	—	1.3B	2.3B	1.3B	1.2B	1.6B	1.9B
Income tax	273M	261M	206M	—	234M	440M	212M	23M	85M	326M
Net income	324M	543M	699M	—	1.1B	1.8B	1.1B	1.2B	1.5B	1.6B
Net margin	5.41%	9.21%	11.3%	—	5.97%	10.3%	6.22%	6.17%	7.09%	7.35%
EBITDA	1.4B	1.4B	1.4B	—	3.4B	3.5B	3.4B	3.5B	3.7B	3.8B
EPS	2.61	4.5	5.88	8.04	5.23	9.17	5.54	6.47	7.91	8.57
Diluted EPS	2.59	4.44	5.76	7.89	5.19	9.09	5.49	6.44	7.87	8.53

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4.9B	5.3B	5.2B	5.3B	5.3B	5.5B	5.1B	5.4B	5.7B	5.6B	5.7B	5.9B
Cost of revenue	3.6B	3.9B	3.9B	3.9B	3.9B	4.1B	3.8B	4.1B	4.2B	4.2B	4.3B	4.4B
Gross profit	1.3B	1.4B	1.3B	1.4B	1.4B	1.4B	1.4B	1.3B	1.5B	1.4B	1.4B	1.5B
Gross margin	26.6%	26.3%	25.9%	25.7%	26.8%	25.3%	26.3%	24.6%	26.4%	25.6%	24.4%	25.5%
Research & development	—	—	—	—	—	—	112M	132M	137M	155M	146M	160M
Selling, general & administrative	828M	-463M	970M	884M	924M	-625M	502M	442M	549M	739M	455M	515M
Operating expenses	828M	-463M	970M	884M	924M	-625M	614M	574M	686M	894M	601M	675M
Operating income	479M	701M	378M	476M	495M	728M	559M	584M	631M	376M	642M	664M
Operating margin	9.75%	13.1%	7.25%	8.98%	9.35%	13.2%	10.9%	10.8%	11.2%	6.66%	11.2%	11.3%
Non-operating income, net	80M	-454M	88M	86M	101M	-80M	50M	92M	88M	149M	83M	175M
Pretax income	400M	76M	290M	390M	430M	487M	459M	524M	567M	382M	589M	710M
Income tax	18M	-50M	5M	23M	26M	31M	73M	66M	105M	82M	77M	110M
Net income	382M	126M	285M	367M	404M	456M	386M	458M	462M	300M	512M	600M
Net margin	7.77%	2.36%	5.47%	6.93%	7.63%	8.26%	7.52%	8.44%	8.16%	5.31%	8.91%	10.2%
EBITDA	869M	1.1B	786M	881M	920M	974M	944M	992M	1B	819M	997M	1.1B
EPS	2.02	0.83	1.49	1.93	2.11	2.38	2.05	2.45	2.47	1.6	2.74	3.15
Diluted EPS	2.02	0.83	1.48	1.92	2.1	2.37	2.04	2.44	2.46	1.59	2.72	3.13

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	13.4B	17.1B	—	—	42.9B	39.9B	39.9B	39.9B	55B	44.3B
Enterprise value	—	16.9B	20.6B	—	—	49.8B	46.1B	52.5B	51.5B	65.1B	55.7B
Shares outstanding	123.8M	122.6M	118.6M	166M	214M	201.3M	191.8M	189.6M	189.8M	187.4M	187.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	24.6	24.5	—	—	23.3	37.6	33.3	26.4	34.3	24
P/S	—	2.27	2.78	—	—	2.41	2.34	2.06	1.87	2.52	1.93
P/B	—	4.57	5.23	—	—	2.22	2.14	2.12	2.04	2.8	2.23
EV/EBITDA	—	12.3	15.2	—	—	14.2	13.4	14.9	13.9	17.2	13.4
EV/Sales	—	2.87	3.35	—	—	2.8	2.7	2.7	2.42	2.98	2.43
Earnings yield	—	4.06%	4.08%	—	—	4.29%	2.66%	3%	3.79%	2.92%	4.17%
FCF yield	—	3.36%	3.59%	—	—	5.46%	4.77%	4.12%	5.39%	4.88%	3.64%
PEG	—	—	—	—	—	—	—	—	—	—	0.84

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	36%	34.6%	34.1%	—	29.2%	30.2%	28.9%	26.3%	25.9%	25.7%	25.5%
Operating margin	17.6%	15.1%	14.9%	—	11%	11.8%	12.2%	10.4%	9.74%	9.83%	12.6%
Net margin	5.41%	9.21%	11.3%	—	5.97%	10.3%	6.22%	6.17%	7.09%	7.35%	8.17%
ROE	10.6%	18.5%	21.3%	—	5.21%	9.53%	5.7%	6.36%	7.72%	8.18%	9.34%
ROA	2.7%	5.38%	7.1%	—	2.94%	5.31%	3.16%	2.87%	3.6%	3.9%	4.38%
ROIC	10.3%	9.74%	10.5%	—	6.02%	6.46%	7%	6.33%	6.3%	6.02%	6.36%
Return on tangible assets	-28%	-19.1%	-24.3%	—	-6.54%	-12.3%	-8.13%	-7.8%	-10.9%	-13.6%	-18.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.32	1.08	1.2	1.79	1.57	1.4	1.17	1.01	1.08	1.19	1.18
Quick ratio	0.89	0.64	0.98	1.41	1.34	1.18	0.95	0.82	0.9	1.02	1.03
Debt / equity	1.48	1.38	1.16	0.03	0.37	0.41	0.38	0.7	0.62	0.57	0.53
Debt / assets	0.38	0.4	0.38	0.02	0.21	0.23	0.21	0.31	0.29	0.27	0.26
Net debt / EBITDA	2.84	2.59	2.57	—	1.87	1.97	1.79	3.56	3.12	2.65	2.37
Interest coverage	5.83	6.17	6.34	—	6.2	9.62	5.56	3.25	3.37	4.24	5.01
Effective tax rate	30.9%	29.4%	22.7%	—	17.7%	19.3%	16.7%	1.88%	5.32%	16.9%	16.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	48.4	48.1	52	—	85	88.5	89	102.4	112.4	116.7	122.8
EPS (basic)	2.61	4.5	5.88	8.04	5.23	9.17	5.54	6.47	7.91	8.57	8.57
EPS (diluted)	2.59	4.44	5.76	7.89	5.19	9.09	5.49	6.44	7.87	8.53	9.91
Book value per share	24.7	23.9	27.6	137	97.4	96	97.1	99.3	103.2	104.8	106.8
FCF per share	6.24	3.67	5.19	—	11.3	11.6	9.94	8.69	11.3	14.3	15
Cash per share	3.93	3.95	2.43	4.96	5.96	4.67	4.59	2.95	3.24	5.7	8.17
Capex per share	1.23	0.97	1.15	—	1.29	1.66	1.24	2.07	0.01	2.26	2.58

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.54%	2.02%	2.2%	—	1.52%	1.88%	1.39%	2.02%	0%	1.94%	2.11%
Capex / operating cash flow	16.6%	25.9%	14.9%	—	12.5%	11.1%	12.3%	19.3%	0.04%	13.7%	14.7%
Payout ratio	77.8%	48.3%	38.9%	—	66.8%	44.4%	81.4%	72.5%	58.6%	56.2%	49.5%
Dividend yield	—	1.96%	1.59%	—	—	1.9%	2.16%	2.17%	2.22%	1.64%	2.1%

Yield

2.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.25

ex-dividend Sep 4, 2026

Payout ratio

49%

of earnings

Dividend growth

24 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$1.25
Jun 5, 2026	$1.25
Mar 6, 2026	$1.25

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4.9B	$5.3B	$5.2B	$5.3B	$5.3B	$5.5B	$5.1B	$5.4B	$5.7B	$5.6B	$5.7B	$5.9B
YoY change	+15.8%	+16.6%	+16.6%	+12.9%	+7.67%	+3.43%	-1.52%	+2.4%	+6.93%	+2.26%	+11.9%	+8.39%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	487M	484M	288M	824M	1.3B	941M	880M	560M	615M	1.1B
Receivables	398M	368M	466M	1.2B	1.3B	1B	1.3B	1.2B	1.1B	1.4B
Inventory	867M	841M	411M	1.2B	973M	982M	1.3B	1.5B	1.3B	1.2B
Total current assets	2.6B	2.1B	2.2B	5.7B	6.7B	6.4B	6.8B	8.1B	8.2B	8.6B
Property, plant & equipment	332M	287M	280M	—	1.8B	1.6B	1.6B	1.3B	1.2B	996M
Goodwill & intangibles	13.2B	12.9B	12.7B	28.3B	53.6B	49.7B	46.6B	57B	55.9B	53B
Total assets	12B	10.1B	9.9B	37B	37B	34.7B	33.5B	41.7B	42B	41.2B
Accounts payable	494M	540M	622M	1.3B	1.4B	1.8B	1.9B	2.1B	2B	2.5B
Short-term debt	397M	634M	382M	—	10M	13M	820M	2B	1.2B	673M
Total current liabilities	2B	1.9B	1.9B	3.2B	4.2B	4.6B	5.8B	8B	7.6B	7.2B
Long-term debt	4.1B	3.4B	3.4B	781M	7.7B	7.8B	6.2B	11.2B	11.1B	10.4B
Total liabilities	9B	7.2B	6.6B	14.3B	16.1B	15.4B	14.9B	22.9B	22.4B	21.6B
Shareholders' equity	3.1B	2.9B	3.3B	22.7B	20.8B	19.3B	18.6B	18.8B	19.6B	19.6B
Total debt	4.5B	4B	3.8B	781M	7.7B	7.8B	7B	13.1B	12.2B	11.1B
Net debt	4B	3.5B	3.5B	-43M	6.4B	6.9B	6.2B	12.6B	11.6B	10B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	339M	1.1B	590M	1.5B
Receivables	—	—	—	—	—	—	—	—	1.5B	1.4B	1.9B	1.9B
Inventory	—	—	—	—	—	—	—	—	1.3B	1.2B	1.2B	1.3B
Total current assets	—	—	—	—	—	—	—	—	7.6B	8.6B	8.9B	10.1B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	996M	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	54.9B	53B	52.7B	53.1B
Total assets	—	—	—	—	—	—	—	—	41B	41.2B	41.4B	42.9B
Accounts payable	—	—	—	—	—	—	—	—	1.9B	2.5B	1.9B	2.1B
Short-term debt	—	—	—	—	—	—	—	—	725M	673M	2.2B	1.8B
Total current liabilities	—	—	—	—	—	—	—	—	6.6B	7.2B	8.6B	8.5B
Long-term debt	—	—	—	—	—	—	—	—	11B	10.4B	9.2B	9.2B
Total liabilities	—	—	—	—	—	—	—	—	21.5B	21.6B	21.7B	22.1B
Shareholders' equity	—	—	—	—	—	—	—	—	19.5B	19.6B	19.7B	20.9B
Total debt	—	—	—	—	—	—	—	—	11.7B	11.1B	11.4B	11B
Net debt	—	—	—	—	—	—	—	—	11.4B	10B	10.8B	9.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	324M	543M	699M	949M	1.1B	1.8B	1.1B	1.2B	1.5B	1.6B
Depreciation & amortization	361M	311M	259M	258M	1B	967M	938M	1.2B	1.3B	1.2B
Stock-based compensation	39M	42M	82M	141M	310M	348M	325M	320M	361M	366M
Change in working capital	257M	87M	-146M	20M	-15M	106M	271M	-64M	-319M	22M
Operating cash flow	918M	459M	911M	1.4B	2.2B	3B	1.9B	2B	2.8B	3.1B
Capital expenditure	-152M	-119M	-136M	-161M	-277M	-335M	-238M	-393M	1M	-424M
Investing cash flow	-1M	870M	-141M	-159M	739M	1.4B	-250M	-7B	145M	407M
Dividends paid	-252M	-262M	-272M	-325M	-725M	-817M	-864M	-868M	-886M	-903M
Share repurchases	0	-710M	-272M	-200M	-2.3B	-3.7B	-1.1B	-518M	-554M	-1.2B
Financing cash flow	-937M	-1.5B	-839M	-831M	-3.2B	-4.5B	-2B	4.6B	-4.1B	-3.6B
Net change in cash	-20M	-163M	-69M	457M	-212M	-98M	-318M	-417M	-1.2B	-84M
Free cash flow	772M	450M	615M	1B	2.4B	2.3B	1.9B	1.6B	2.2B	2.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	462M	300M	512M	600M
Depreciation & amortization	—	—	—	—	—	—	—	—	309M	311M	282M	288M
Stock-based compensation	—	—	—	—	—	—	—	—	99M	83M	83M	73M
Change in working capital	181M	269M	-333M	143M	-19M	143M	-867M	-150M	-519M	1.2B	-961M	3M
Operating cash flow	181M	269M	-333M	143M	-19M	143M	-867M	-150M	546M	2B	-95M	879M
Capital expenditure	—	—	—	—	—	—	—	—	-119M	-158M	-99M	-108M
Investing cash flow	—	—	—	—	—	—	—	—	-120M	-130M	-104M	-114M
Dividends paid	—	—	—	—	—	—	—	—	-225M	-225M	-238M	-232M
Share repurchases	—	—	—	—	—	—	—	—	-176M	-156M	-296M	-229M
Financing cash flow	—	—	—	—	—	—	—	—	-560M	-1.6B	-284M	-806M
Net change in cash	181M	269M	-333M	143M	-19M	143M	-867M	-150M	-134M	210M	-483M	-41M
Free cash flow	—	—	—	—	—	—	—	—	427M	1.8B	-194M	771M

Date	Ratio
May 11, 2009	10000:9448
Mar 31, 2005	2:1
Sep 29, 1997	2:1

L3Harris Technologies, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history