L3harris Technologies, Inc.

Industrials
Industrial Machinery/Components
www.l3harris.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $40.66B
PE 25
Debt $12.46B
Cash $517.00M
EV $52.60B
FCF $2.27B

Earnings

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Sales & Net Margins

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Earnings	$1.61B
EBIT	$2.07B
ROE	8%
ROA	5%
FCF	$2.27B
Equity	$19.13B
Growth Stability	87%
PE	25.33
PEG	7.73
PB	2.13
P/FCF	17.92
P/S	1.91
Price/Cash	0.01
Debt/Equity	0.65
Debt/FCF	5.49
Net Margins	8%
Gross Margins	26%
Op. Margins	10%
Earnings CAGR	15%
Sales Growth YoY	-2%
Sales Growth QoQ	-7%
Sales CAGR	23%
FCF CAGR	20%
Equity CAGR	30%
Earnings Stability	0.5
Earnings Growth YoY	36%
Earnings Growth QoQ	-15%
Earnings CAGR 5Y	3%

Sales CAGR 5Y	6%
FCF CAGR 5Y	-4%
Equity CAGR 5Y	-2%
Earnings CAGR 3Y	11%
Sales CAGR 3Y	11%
FCF CAGR 3Y	0%
Equity CAGR 3Y	1%
Market Cap	$40.66B
Revenue	$21.25B
Dividend Yield	2%
Payout Ratio	55%
Assets	$41.25B
Total Debt	$12.46B
Cash	$517.00M
Shares Outstanding	187.59M
EV	52.6B
Earnings Score	72%
Moat Score	78%
Safety Score	83%
Final Score	78%
Working Capital	147M
Current Ratio	1.02
Gross Profit	$5.53B
Shares Growth 3y	-0%
Equity Growth QoQ	-2%
Equity Growth YoY	2%

Assets & ROA

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Stockholders Equity & ROE

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L3Harris Technologies was created in 2019 from the merger of L3 Technologies and Harris, two defense contractors that provide products for the command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) market. The firm also has smaller operations serving the civil government, particularly the Federal Aviation Administration's communication infrastructure, and produces various avionics for defense and commercial aviation.

SEC Filings

Direct access to L3harris Technologies, Inc. (LHX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 28
- 10-K Jan 03
2024
- 10-Q Sep 27
- 10-Q Jun 28
- 10-Q Mar 29
2023
- 10-K Dec 29
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does L3harris Technologies, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of L3harris Technologies, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 15%

Stability 50%

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L3harris Technologies, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for L3harris Technologies, Inc. .

Years

Calculation mode

= $92B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.3B	$2.7B	$3.3B	$3.9B	$4.7B	$5.6B	$6.8B	$8.1B	$9.7B	$12B	$14B	$140B
DCF		$2.5B	$2.7B	$2.9B	$3.2B	$3.5B	$3.8B	$4.2B	$4.5B	$5B	$5.4B	$54B
Value	$92B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	07/2015	06/2016	06/2017	06/2018	12/2020	12/2021	12/2022	12/2023	01/2025	TTM
Net Margins	7%	5%	9%	12%	6%	10%	6%	6%	7%	8%
ROA	-	9%	11%	11%	7%	10%	5%	3%	5%	5%
ROE	-	11%	19%	22%	5%	10%	6%	6%	8%	8%

Net Margins (7.52%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	07/2015	06/2016	06/2017	06/2018	12/2020	12/2021	12/2022	12/2023	01/2025	TTM
Debt over FCF	-	6.33	10	6.58	2.86	3.01	4.12	7.97	5.75	5.49
Debt over Equity	1.56	1.6	1.54	1.22	0.33	0.37	0.42	0.7	0.63	0.65
Growth Stability	-	-	-	100%	100%	100%	87%	90%	100%	87%

Bad Debt/FCF ratio (5.49)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.65)

The company is not overleveraged and has a good balance between equity and debt.

Neutral Graham’s Stability (87%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	07/2015	06/2016	06/2017	06/2018	12/2020	12/2021	12/2022	12/2023	01/2025	CAGR 5Y
Revenue YoY growth	-	18%	-2%	5%	194%	-2%	-4%	14%	10%	6%
Earnings YoY growth	-	-3%	71%	30%	51%	70%	-42%	13%	25%	3%
Equity YoY growth	-	-10%	-4%	13%	527%	-7%	-4%	1%	4%	-2%
FCF YoY growth	-	9%	-42%	37%	294%	-3%	-19%	-14%	31%	-4%