L3Harris Technologies, Inc. (LHX) financials
NYSE · Industrials · Aerospace & Defense · 45,000 employees · CEO Sam Mehta
- Price
- $277.61 -0.29%
- Market cap
- $51.7B
- Enterprise value
- $60.2B
- Last report
- Q3 '26 filed 2026-10-29
- Next report
- 2027-01-28 EPS est. $3.13
Revenue (TTM)$23.3B+7.3% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)10.5%-1.0 pp vs a year agoOperating income $2.46B
Net income (TTM)$2.04B+16.2% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$3.64B+92.7% vs a year agoCapex $544M
Diluted EPS (TTM)$10.72+15.1% vs a year agoSum of the last 4 quarters
Net cash-$7.98B+30.7% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $51.7B EV $60.2B
- Revenue
- $23.3B Trailing 12 months
- Revenue growth
- +8% FY2027 consensus
- Profit margin
- 8.8% Net income / revenue, TTM
- P/E
- 25.8× Forward 22.9× (FY2027)
- P/S
- 2.2× Price / sales, TTM
- EV / EBITDA
- 14.7× TTM
- Free cash flow
- $3.64B Trailing 12 months
- Net income
- $2.04B Trailing 12 months
- Revenue estimate
- $23.6B FY2027 consensus
- Earnings
- 2027-01-28 Revenue est. $5.98B
- Dividend
- $4.95 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 2.4%, EPS beat by 11.2%Revenue $6.06B vs $5.92B expected (+2.4%); EPS $3.28 vs $2.95 (+11.2%).
- Revenue growth steady: 7.1% year on yearQ3 '26 revenue $6.06B, against an average of 7.4% over the four quarters before.
- Operating margin 10.5% (TTM), -1.0 pp on a year agoOperating income grew -1.6% while revenue grew 7.3%.
- Capex 2.3% of revenue (a year ago 1.8%)$544M invested in the last 4 quarters (+41.7% on a year earlier). Free cash flow $3.64B = 178.1% of net income.
- Returned $1.68B to shareholders = 46.2% of free cash flowBuybacks $754M (a year earlier $1.04B), dividends $929M, stock-based pay $123M (TTM).
- Diluted share count down 0.5% in a year187M diluted shares in Q3 '26, 188M a year earlier.
- Net debt $7.98BCash + short-term investments $3.02B, debt incl. leases $11B; a year ago net debt $11.5B.
Last quarter: Q3 '26
Quarter ended 2026-10-02. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $6.06B | $5.66B | +7.1% |
| Gross margin | 26.6% | 26.4% | +0.2 pp |
| Operating income | $786M | $631M | +24.6% |
| Operating margin | 13.0% | 11.2% | +1.8 pp |
| Net income | $632M | $462M | +36.8% |
| Diluted EPS | $3.28 | $2.46 | +33.3% |
| Operating cash flow | $1.44B | $546M | +163.6% |
| Capex | $179M | $119M | +50.4% |
| Free cash flow | $1.26B | $427M | +195.1% |
| R&D | $0 | $137M | -100.0% |
| Stock-based compensation | -$1M | $99M | -101.0% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $6.06B | $5.92B | +2.4% |
| EPS (as estimated) | $3.28 | $2.95 | +11.2% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q1 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Space and Airborne Systems | $2.99B | +85.6% | 51.2% | $13.5B | +101.1% | |
| Integrated Mission Systems | $990M | -37.8% | 17.0% | $10.9B | +61.7% | |
| Communication Systems | $1.86B | +37.2% | 31.8% | $10.4B | +87.9% | |
| Aerojet Rocketdyne Segment | – | – | – | – | – |
Revenue by region
share of total| Segment | Q1 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Communications & Spectrum Dominance Segment | $830M | – | 57.1% | – | – | |
| Communication Systems Segment | – | – | – | – | – | |
| Space & Mission Systems Segment | $512M | – | 35.2% | – | – | |
| Integrated Mission Systems Segment | – | – | – | – | – | |
| Space and Airborne Systems Segment | – | – | – | – | – | |
| Aerojet Rocketdyne Segment | – | – | – | – | – | |
| Missile Solutions Segment | $112M | – | 7.7% | – | – |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q3 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| Space And Airborne Systems Segment | – | – | – | – | – | – | – |
| Integrated Mission Systems Segment | – | – | – | – | – | – | – |
| Communication Systems Segment | – | – | – | – | – | – | – |
| Aerojet Rocketdyne Segment | – | – | – | – | – | – | – |
| Corporate (unallocated) | – | – | – | – | – | – | – |
| Space Mission Systems Segment | – | – | $338M | – | – | – | – |
| Communications Spectrum Dominance Segment | – | – | $502M | – | – | – | – |
| Missile Solutions Segment | – | – | $127M | – | – | – | – |
| Corporate Reconciling Items And Eliminations | – | – | -$181M | – | – | – | – |
Operating income by segment
quarterlySegment operating margin
quarterlyMargins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $4.19B
- Capex
- -$544M
- Buybacks
- -$754M
- Dividends
- -$929M
- Acquisitions
- $0
- Net debt issued
- -$844M
- Stock-based compensation
- $123M
- Free cash flow
- $3.64B
- Returned to shareholders / FCF
- 46.2%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 25.8× | 31.1× | 23.3× – 37.6× |
| EV / EBITDA | 14.7× | 16.8× | 14.2× – 18.8× |
| EV / Sales | 2.6× | 2.8× | 2.4× – 3.1× |
| Price / FCF | 14.2× | 20.7× | 18.3× – 24.2× |
| Price / Book | 2.6× | 2.3× | 2.0× – 2.9× |
| FCF yield | 7.0% | 4.9% | 4.1% – 5.5% |
| Return on invested capital | 5.6% | 5.3% | 4.9% – 5.6% |
| Return on equity | 10.2% | 7.6% | 5.7% – 9.6% |
Analysts
Consensus target $324.33 (+16.8%)
range $293.00 – $365.00 · rating Buy
Strong buy0
Buy25
Hold7
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $23.6B | +7.9% | $12.11 | +41.9% | 22.9× | 8 |
| FY2028 | $25.2B | +7.0% | $13.57 | +12.1% | 20.5× | 13 |
| FY2029 | $27.2B | +7.9% | $15.60 | +14.9% | 17.8× | 16 |
| FY2030 | $29.3B | +7.6% | $17.62 | +13.0% | 15.8× | 7 |
| FY2031 | $31.2B | +6.6% | $19.72 | +11.9% | 14.1× | 8 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 336 figures L3Harris Technologies, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $2.18B | $1.9B | +14.7% | $2.46B | $2.01B | +22.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.64B | $1.53B | +7.3% | $1.37B | $1.07B | +27.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $21M2026-01-02 | $21M | 0.0% | $21M | $21M | 0.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $90M | $22M | +309.1% | $119M | $27M | +340.7% |
| Additional Paid in Capital, Common Stock | $14.9B | $15.2B | -1.8% | $15.1B | $15.6B | -2.8% |
| Amortization of Intangible Assets | $152M | – | – | $770M | $853M | -9.7% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 400K | – | – | 2M | 3.3M | -39.4% |
| Asset Impairment Charges | – | – | – | $85M | $38M | +123.7% |
| Assets | $43.8B | $41B | +6.8% | $41.2B | $42B | -1.9% |
| Assets for Plan Benefits, Defined Benefit Plan | $1.37B2026-01-02 | $986M | +38.7% | $1.37B | $986M | +38.7% |
| Assets, Current | $10.6B | $7.59B | +39.2% | $8.59B | $8.22B | +4.6% |
| Cash and Cash Equivalents, at Carrying Value | $2.47B | $339M | +628.9% | $1.07B | $615M | +73.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.47B | $339M | +628.9% | $1.07B | $615M | +73.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $950M | – | – | $454M | $55M | +725.5% |
| Common Stock, Dividends, Per Share, Cash Paid | $1.25 | – | – | $4.80 | $4.64 | +3.4% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 500M | 500M | 0.0% | 500M | 500M | 0.0% |
| Common Stock, Shares, Issued | 186M | 187M | -0.5% | 187M | 190M | -1.6% |
| Common Stock, Shares, Outstanding | 186M | 187M | -0.5% | 187M | 190M | -1.6% |
| Common Stock, Value, Issued | $186M | $187M | -0.5% | $187M | $190M | -1.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $631M | – | – | $1.7B | $1.73B | -1.7% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $397M2026-01-02 | – | – | $1.7B | $1.74B | -2.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $4B | $3.68B | +8.8% | $3.57B | $3.23B | +10.4% |
| Contract with Customer, Liability, Current | $3.11B | $2.23B | +39.3% | $2.26B | $2.14B | +5.6% |
| Contract with Customer, Liability, Noncurrent | $79M | $94M | -16.0% | $108M | $91M | +18.7% |
| Contract with Customer, Liability, Revenue Recognized | $274M | – | – | $1.68B | $1.43B | +17.4% |
| Contract with Customer, Performance Obligation Satisfied in Previous Period | – | – | – | $212M | $210M | +1.0% |
| Contractual Obligation | $1.8B2026-01-02 | $1.21B | +48.6% | $1.8B | $1.21B | +48.6% |
| Contractual Obligation, to be Paid, Year One | $1.06B2026-01-02 | $857M | +23.1% | $1.06B | $857M | +23.1% |
| Cost of Goods and Services Sold | $4.45B | – | – | $15.8B2025-01-03 | $14.3B | +10.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$10M | -$166M | +94.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $77M | $72M | +6.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $120M | -$89M | +234.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $53M | $5M | +960.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $45M | $43M | +4.7% | $43M | $43M | 0.0% |
| Debt, Weighted Average Interest Rate | 4.2%2026-04-03 | – | – | 4.7%2025-01-03 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $166M | $244M | -32.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$14M | -$34M | +58.8% |
| Deferred Income Tax Assets, Net | $72M | $87M | -17.2% | $76M | $120M | -36.7% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $206M | $174M | +18.4% |
| Deferred Income Tax Liabilities, Net | $1.44B | $1.04B | +38.2% | $1.11B | $942M | +18.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $54M | -$36M | +250.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $2.24B2026-01-02 | $2.77B | -19.3% | $2.24B | $2.77B | -19.3% |
| Deferred Tax Assets, Operating Loss Carryforwards | $37M2026-01-02 | $81M | -54.3% | $37M | $81M | -54.3% |
| Deferred Tax Assets, Other | $393M2026-01-02 | $461M | -14.8% | $393M | $461M | -14.8% |
| Deferred Tax Assets, Tax Credit Carryforwards | $189M2026-01-02 | $165M | +14.5% | $189M | $165M | +14.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $407M2026-01-02 | $396M | +2.8% | $407M | $396M | +2.8% |
| Deferred Tax Assets, Valuation Allowance | $260M2026-01-02 | $238M | +9.2% | $260M | $238M | +9.2% |
| Deferred Tax Liabilities, Gross | $3.28B2026-01-02 | $3.6B | -8.9% | $3.28B | $3.6B | -8.9% |
| Deferred Tax Liabilities, Intangible Assets | $89M | – | – | $1.79B | $1.97B | -9.1% |
| Deferred Tax Liabilities, Leasing Arrangements | $211M2026-01-02 | $188M | +12.2% | $211M | $188M | +12.2% |
| Deferred Tax Liabilities, Net | $1.04B2026-01-02 | $822M | +26.3% | $1.04B | $822M | +26.3% |
| Deferred Tax Liabilities, Other | $93M2026-01-02 | $109M | -14.7% | $93M | $109M | -14.7% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $204M2026-01-02 | $216M | -5.6% | $204M | $216M | -5.6% |
| Defined Benefit Plan, Accumulated Benefit Obligation | $6.1B2026-01-02 | $7.6B | -19.7% | $6.1B | $7.6B | -19.7% |
| Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax | -$471M2026-01-02 | -$473M | +0.4% | -$471M | -$473M | +0.4% |
| Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax | -$109M2026-01-02 | -$142M | +23.2% | -$109M | -$142M | +23.2% |
| Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | $362M2026-01-02 | $331M | +9.4% | $362M | $331M | +9.4% |
| Defined Benefit Plan, Amortization of Gain (Loss) | $3M | – | – | -$2M2016-07-01 | -$7M | +71.4% |
| Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | -$6M | – | – | -$5M2016-07-01 | -$13M | +61.5% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-10-02, 10-Q 2026-07-03, 10-Q 2026-04-03, 10-K 2026-01-02, 10-Q 2025-10-03, 10-Q 2025-06-27, 10-Q 2025-03-28, 10-K 2025-01-03, 10-Q 2024-09-27
Data as of 2026-11-02