ESLT (Elbit Systems Ltd.) Stock Financials & Earnings | Market Cap Arena

ESLT (Elbit Systems Ltd.) Stock Financials & Earnings | Market Cap Arena

ESLTElbit Systems Ltd.

Mkt Cap$41B

Industrials·Aerospace & Defense·🇮🇱 Israel·NASDAQ

Revenue (TTM)$7.8B

Net Income (TTM)$464M

EPS (TTM)$9.88

Free Cash Flow (TTM)$737M

Gross Margin24.2%

Op. Margin8.0%

Net Margin5.9%

FCF Margin9.4%

P/S Ratio (TTM)5.2x

P/E Ratio (TTM)88.6x

YoY Rev Growth+19.4%

Employees—

Earnings Reports

Next: Q4 2025 · Mar 17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$1.5B	$377M	$91M
Q1 23	$1.4B	$354M	$92M
Q2 23	$1.4B	$366M	$100M
Q3 23	$1.5B	$360M	$104M
Q4 23	$1.7B	$402M	$71M
Q1 24	$1.5B	$371M	$104M
Q2 24	$1.6B	$384M	$115M
Q3 24	$1.7B	$411M	$125M
Q4 24	$2.0B	$473M	$144M
Q1 25	$1.8B	$440M	$145M
Q2 25	$2.1B	$500M	$167M
Q3 25	$1.9B	$485M	$174M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q4 22	7.6x	152.9x
Q1 23	7.6x	148.4x
Q2 23	7.4x	157.8x
Q3 23	7.1x	154.3x
Q4 23	6.9x	192.7x
Q1 24	6.7x	182.3x
Q2 24	6.5x	170.2x
Q3 24	6.3x	157.7x
Q4 24	6.0x	128.2x
Q1 25	5.8x	117.0x
Q2 25	5.4x	101.0x
Q3 25	5.2x	88.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$195M	$179M
Q1 23	-$73M	-$110M
Q2 23	-$138M	-$198M
Q3 23	$11M	-$50M
Q4 23	$314M	$284M
Q1 24	-$6M	-$86M
Q2 24	$32M	-$3M
Q3 24	$57M	$5M
Q4 24	$452M	$404M
Q1 25	$184M	$161M
Q2 25	$120M	$71M
Q3 25	$157M	$101M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 22	$17M
Q1 23	$37M
Q2 23	$60M
Q3 23	$61M
Q4 23	$29M
Q1 24	$80M
Q2 24	$36M
Q3 24	$51M
Q4 24	$48M
Q1 25	$23M
Q2 25	$50M
Q3 25	$56M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	-1.5%	-0.4%
Q1 23	+1.0%	-1.8%
Q2 23	+14.5%	+14.2%
Q3 23	+14.3%	+11.5%
Q4 23	+14.6%	+16.9%
Q1 24	+12.7%	+12.7%
Q2 24	+12.2%	+12.0%
Q3 24	+16.2%	+15.8%
Q4 24	+14.6%	+10.8%
Q1 25	+19.3%	+17.9%
Q2 25	+30.2%	+29.0%
Q3 25	+14.1%	+12.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$1M	0.1%
Q1 23	$3M	0.3%
Q2 23	$3M	0.2%
Q3 23	$3M	0.2%
Q4 23	$2M	0.1%
Q1 24	$2M	0.2%
Q2 24	$3M	0.2%
Q3 24	$4M	0.3%
Q4 24	$6M	0.3%
Q1 25	$6M	0.3%
Q2 25	$6M	0.3%
Q3 25	$6M	0.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 22	$124M	$162M
Q1 23	$108M	$154M
Q2 23	$92M	$174M
Q3 23	$101M	$155M
Q4 23	$124M	$208M
Q1 24	$98M	$169M
Q2 24	$115M	$154M
Q3 24	$119M	$166M
Q4 24	$133M	$196M
Q1 25	$111M	$185M
Q2 25	$137M	$196M
Q3 25	$131M	$180M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$211M	$1M	$212M
Q1 23	$151M	$2M	$154M
Q2 23	$112M	$26M	$138M
Q3 23	$120M	$27M	$147M
Q4 23	$196M	$10M	$206M
Q1 24	$107M	$36M	$144M
Q2 24	$121M	$18M	$139M
Q3 24	$119M	$4M	$123M
Q4 24	$265M	$1M	$267M
Q1 25	$114M	$341M	$455M
Q2 25	$109M	$740M	$849M
Q3 25	$142M	$591M	$733M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 22	45M	-0.1%
Q1 23	44M	-0.3%
Q2 23	45M	+0.4%
Q3 23	45M	+0.0%
Q4 23	45M	-0.0%
Q1 24	45M	+0.1%
Q2 24	45M	-0.1%
Q3 24	45M	-0.0%
Q4 24	45M	+0.7%
Q1 25	46M	+1.4%
Q2 25	47M	+2.5%
Q3 25	48M	+2.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 13	$1M	2K
FY 14	$1M	2K
FY 15	$1M	2K
FY 16	$1M	2K
FY 17	$1M	2K
FY 18	$700K	5K
FY 19	$900K	5K
FY 20	$943K	5K
FY 21	$1M	5K
FY 22	$1M	4K
FY 23	$1M	5K
FY 24	$2M	5K