L3Harris Technologies, Inc.
Search, Detection, Navigation, Guidance, Aeronautical Sys
In addition to its legacy software-defined radio franchise, L3Harris Technologies has, through a series of acquisitions, established franchises producing uncrewed aerial vehicles, sensors, avionics, space-based systems, missiles, and solid rocket motors.
It is a $44.1B technology company. Revenue grew 7.3% over the last year, it keeps 8¢ of every dollar of sales as profit, and its net debt equals ~3.3 years of free cash flow. It trades at 23.5× earnings — near the lowest of its own history.
- Website
- l3harris.com
- Location
- Melbourne, FL
- Employees
- 45 000
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation and quality; Growth, Profitability, Health and Moat lag behind.
Valuation82
- P/E vs own history6th pct · 25/25
- FCF yield6.4% · 20/25
- P/S1.9x · 25/25
- EV/EBITDA17.1x · 12/25
Growth44
- Revenue CAGR5.3% · 12/25
- Net income CAGR-3.4% · 0/25
- EPS CAGR ~5Y9.0% · 12/25
- Fwd implied growth24.8% · 20/25
Profitability42
- ROIC5.5% · 5/25
- ROE9.4% · 12/25
- Net margin8.2% · 13/25
- Operating margin10.1% · 12/25
Health44
- Altman Z1.79 · 10/25
- Current ratio1.18 · 12/25
- Interest coverage4.2x · 10/25
- Net cash / debtD/A 23% · 12/25
Quality87
- Piotroski F8/9 · 25/25
- Beneish M-2.58 · 25/25
- FCF conversion150% · 25/25
- Margin stabilityσ 10.6% · 12/25
Moat49
- ROIC >12% years4/10 yrs · 6/25
- Median gross margin29.7% · 6/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 4.3% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026MilestoneThe remaining Missile Solutions segment will be spun off as a new company in the second half of 2026 via an IPO
- 2025AcquisitionIsrael entered into a memorandum of understanding with L3Harris to facilitate the acquisition of…
- 2025MilestoneThe sale was completed in March 2025, and the business was renamed Acron Aviation
- 2023AcquisitionThe acquisition was completed on 28 July 2023
- 2022MilestoneL3Harris reorganized its business structure, eliminating the Aviation Systems business segment and…
- FY2021FinancialBest year on record$1.85B net income
- FY2020FinancialRevenue crossed $10B$18.2B for the year
- Jun 29, 2019AcquisitionThe company was formed from the merger of L3 Technologies and Harris Corporation on June 29, 2019
- 2018AcquisitionL3Harris acquired two Australian zero-day exploit development companies, Azimuth Security and Linchpin Labs
- 2016MilestoneAt the end of 2016, the company changed its name from L-3 Communications Holdings, Inc
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$7.47B in first reported year
- 1997AcquisitionL-3 Communications was formed in 1997 to acquire certain business units from Lockheed Martin that had previously…
- 1967AcquisitionThey merged with Radiation, Inc. of Melbourne, Florida, a developer of antenna, integrated circuit
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
- Altman Z-Score 1.79 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.3% YoY
- Profitable — makes more than it spends$1.87B TTM
- Profit growing — earnings are higher than last year+15.9% YoY
- Generates cash — cash left after running and investing$2.81B TTM
- Debt under control — could handle its obligations~3.3y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$44.1B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.9% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.8 — distress
- Pays a dividend — returns cash to shareholdersyield 2.08%
- Valuation not extreme — price not wildly above earningsP/E 23.5
Peer comparisonL3Harris Technologies, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| LHX this company | $44.1B | 23.5 | +7.3% | 8.2% | Mixed |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: LHX vs NVDA · LHX vs AAPL · LHX vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/LHX
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of LHX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $236.87 · market cap $44.1B.