LHX

MKT CAP:$59B

L3Harris Technologies, Inc.

Market Cap

$59B

Industrials·Aerospace & Defense·🇺🇸 United States·NYSE

Industrials·Aerospace·🇺🇸·NYSE

Stock Price

$315.89+$11.41 (+3.75%)

Apr 24, 2026

Company Details

L3Harris Technologies, Inc., an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelli...

CEO

Christopher E. Kubasik

IPO Date

Dec 31, 1981

Website

www.l3harris.com

Key Metrics TTM

Revenue

$21.9B

+5.3% YoY

Net Income

$1.6B

EPS (Diluted)

$8.53

Free Cash Flow

$2.7B

Revenue / Share

$116.18

Gross Margin

24.1%

Operating Margin

9.9%

Net Margin

7.3%

FCF Margin

12.3%

P/S

2.7x

P/E

36.8x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 12, 2026

$21.9BEPS $8.53

Q4 2025

Feb 12, 2026

$5.6BEPS $1.59

Q3 2025

Oct 30, 2025

$5.7BEPS $2.46

Q2 2025

Jul 24, 2025

$5.4B+2.4%EPS $2.44

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$4.6B	$1.4B	$574M
Q2 21	$4.7B	$1.4B	$546M
Q3 21	$4.2B	$1.3B	$549M
Q4 21	$4.3B	$1.3B	$555M
Q1 22	$4.1B	$1.2B	$518M
Q2 22	$4.1B	$1.2B	$510M
Q3 22	$4.2B	$1.2B	$473M
Q4 22	$4.6B	$1.3B	$645M
Q3 23	$4.9B	$1.1B	$535M
Q4 23	$5.3B	$1.2B	$557M
Q1 24	$5.2B	$1.2B	$418M
Q2 24	$5.3B	$1.2B	$511M
Q1 25	$5.1B	$1.2B	$559M
Q2 25	$5.4B	$1.2B	$584M
Q3 25	$5.7B	$1.5B	$621M
Q4 25	$5.6B	$1.4B	$393M

Valuation

Quarter	P/S	P/E
Q1 21	2.3x	36.1x
Q2 21	2.8x	33.3x
Q3 21	2.4x	27.4x
Q4 21	2.3x	22.1x
Q1 22	2.8x	26.2x
Q2 22	2.7x	23.8x
Q3 22	2.5x	36.7x
Q4 22	2.2x	36.0x
Q3 23	1.8x	33.5x
Q4 23	2.1x	59.6x
Q1 24	2.0x	31.9x
Q2 24	2.0x	35.4x
Q1 25	1.9x	32.8x
Q2 25	2.2x	31.4x
Q3 25	2.6x	33.9x
Q4 25	2.7x	36.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$661M	$594M
Q2 21	$720M	$659M
Q3 21	$484M	$405M
Q4 21	$822M	$687M
Q1 22	$39M	-$16M
Q2 22	$749M	$687M
Q3 22	$588M	$524M
Q4 22	$782M	$711M
Q3 23	$543M	$395M
Q4 23	$789M	$652M
Q1 24	-$104M	-$219M
Q2 24	$754M	$657M
Q1 25	-$42M	-$101M
Q2 25	$640M	$552M
Q3 25	$546M	$427M
Q4 25	$2.0B	$1.8B

Capital Expenditures

Quarter	CapEx
Q1 21	$67M
Q2 21	$61M
Q3 21	$79M
Q4 21	$135M
Q1 22	$55M
Q2 22	$62M
Q3 22	$64M
Q4 22	$71M
Q3 23	$148M
Q4 23	$137M
Q1 24	$115M
Q2 24	$97M
Q1 25	$59M
Q2 25	$88M
Q3 25	$119M
Q4 25	$158M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+174.1%	+195.3%
Q2 21	-36.9%	-41.8%
Q3 21	+126.8%	+134.1%
Q4 21	-6.7%	-6.8%
Q1 22	-10.2%	-10.2%
Q2 22	-11.4%	-12.1%
Q3 22	+0.4%	+2.5%
Q4 22	+5.2%	+3.6%
Q3 23	+19.8%	+22.2%
Q4 23	+29.1%	+31.9%
Q1 24	+22.7%	+27.0%
Q2 24	+15.7%	+21.7%
Q1 25	+4.4%	+4.4%
Q2 25	+1.6%	+1.2%
Q3 25	+8.6%	+5.1%
Q4 25	+6.6%	+9.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$90M	2.0%
Q2 21	$94M	2.0%
Q3 21	$81M	1.9%
Q4 21	$83M	1.9%
Q1 22	$83M	2.0%
Q2 22	$99M	2.4%
Q3 22	$71M	1.7%
Q4 22	$72M	—
Q3 23	$73M	1.5%
Q4 23	$81M	1.5%
Q1 24	$96M	1.8%
Q2 24	$27M	0.5%
Q1 25	$19M	0.4%
Q2 25	$97M	1.8%
Q3 25	$0	0.0%
Q4 25	$30M	0.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 21	—	—	—	$780M
Q2 21	—	—	—	$871M
Q3 21	—	—	—	$759M
Q4 21	—	—	—	$742M
Q1 22	—	—	—	$693M
Q2 22	—	—	—	$718M
Q3 22	—	—	—	$721M
Q4 22	—	—	—	$617M
Q3 23	—	—	—	$587M
Q4 23	$124M	$501M	—	—
Q1 24	$114M	$970M	—	—
Q2 24	$124M	$884M	—	—
Q1 25	$112M	$397M	$105M	—
Q2 25	$132M	$322M	$120M	—
Q3 25	$137M	$873M	—	—
Q4 25	—	$968M	—	—

Revenue Segments

Quarter	Communication Systems	Integrated Mission Systems	Space and Airborne Systems	Aerojet Rocketdyne Segment
Q1 22	$963M	$1.7B	$1.4B	—
Q2 22	$993M	$1.7B	$1.5B	—
Q3 22	$1.1B	$1.7B	$1.5B	—
Q4 22	$1.2B	$1.8B	$1.6B	—
Q3 23	$1.3B	$1.6B	$1.7B	$455M
Q4 23	$1.4B	$1.6B	$1.8B	$597M
Q1 24	$1.3B	$1.7B	$1.8B	$542M
Q2 24	$1.3B	$1.7B	$1.7B	$581M
Q1 25	$1.4B	$1.6B	$1.6B	$629M
Q2 25	$1.4B	$1.6B	$1.8B	$698M
Q3 25	$1.5B	$1.7B	$1.8B	$755M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$402M	$0	$402M
Q2 22	$420M	$0	$420M
Q3 22	$529M	$0	$529M
Q4 22	$880M	$0	$880M
Q1 23	$545M	$0	$545M
Q2 23	$366M	$0	$366M
Q3 23	$499M	$0	$499M
Q4 23	$560M	$0	$560M
Q1 24	$477M	$0	$477M
Q2 24	$547M	$0	$547M
Q3 24	$539M	$0	$539M
Q4 24	$615M	$0	$615M
Q1 25	$517M	$0	$517M
Q2 25	$482M	$0	$482M
Q3 25	$339M	$0	$339M
Q4 25	$1.1B	$0	$1.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	209M	-1.3%	+73.8%
Q2 21	206M	-1.4%	+70.9%
Q3 21	202M	-1.9%	+66.5%
Q4 21	197M	-2.4%	-6.8%
Q1 22	195M	-0.9%	-6.4%
Q2 22	194M	-0.6%	-5.6%
Q3 22	191M	-1.4%	-5.1%
Q4 22	192M	+0.4%	-2.4%
Q3 23	190M	-1.0%	-2.6%
Q4 23	191M	+0.3%	-1.8%
Q1 24	191M	+0.1%	-0.3%
Q2 24	191M	-0.1%	-0.8%
Q1 25	189M	-0.8%	-0.5%
Q2 25	188M	-0.7%	-1.5%
Q3 25	188M	0.0%	-1.6%
Q4 25	188M	+0.2%	-1.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$95.1K	48K
Q2 21	$97.3K	48K
Q3 21	$88.1K	48K
Q4 21	$92.6K	47K
Q1 22	$87.3K	47K
Q2 22	$88.0K	47K
Q3 22	$90.3K	47K
Q4 22	$99.5K	46K
Q3 23	$106.8K	46K
Q4 23	$106.8K	50K
Q1 24	$104.2K	50K
Q2 24	$106.0K	50K
Q1 25	$109.2K	47K
Q2 25	$115.4K	47K
Q3 25	$120.4K	47K
Q4 25	$125.5K	45K

Revenue / Employee