Overview
L3HARRIS TECHNOLOGIES, INC. /DE/
Latest 10-K: FY2025, filed Feb 12, 2026 · Open the 10-K (Inline XBRL) ↗
- Gross profit
- Not reported
- Operating income
- $2.11B
- 10.0%YoYup from FY2024
- OperatingIncome
- Net income
- $1.61B
- 6.9%YoYup from FY2024
- NetIncome
- Diluted EPS
- $8.53
- 8.4%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 188.4M
- 1.2%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Revenue grew faster than the median S&P 500 member in 2 of the last 4 fiscal years.
Per share
- Diluted EPS was $8.53, up 8.4% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | — | $21.32B9.8%up Benchmark median 4.5% | $19.42B13.8%up Benchmark median 4.8% | $17.06B4.2%down Benchmark median 10.3% | $17.81B2.1%down Benchmark median 13.8% | — Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | $5.52B8.0%up Benchmark median 5.5% | $5.11B3.8%up Benchmark median 5.2% | $4.93B8.4%down Benchmark median 8.3% | $5.38B38.3%up Benchmark median 15.7% | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $2.11B10.0%up Benchmark median 7.3% | $1.92B34.5%up Benchmark median 7.4% | $1.43B26.5%up Benchmark median 4.9% | $1.13B46.6%down Benchmark median 7.5% | $2.11B2.5%down Benchmark median 23.5% | 0.0% Benchmark median 7.2% |
| Net Income | $1.61B6.9%up Benchmark median 4.8% | $1.50B22.4%up Benchmark median 5.7% | $1.23B15.5%up Benchmark median 1.9% | $1.06B42.5%down Benchmark median 1.3% | $1.85B65.0%up Benchmark median 33.9% | -3.4% Benchmark median 4.1% |
| EPS (Diluted) | $8.538.4%up Benchmark median 6.2% | $7.8722.2%up Benchmark median 7.9% | $6.4417.3%up Benchmark median 1.9% | $5.4939.6%down Benchmark median 1.5% | $9.0975.1%up Benchmark median 34.8% | -1.6% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $41.20B1.9%down Benchmark median 5.6% | $42.00B0.8%up Benchmark median 3.4% | $41.69B24.3%up Benchmark median 4.1% | $33.52B3.4%down Benchmark median 2.2% | $34.71B6.1%down Benchmark median 6.7% | 4.4% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $21.56B3.8%down Benchmark median 6.4% | $22.42B1.9%down Benchmark median 1.9% | $22.86B53.4%up Benchmark median 2.9% | $14.90B Benchmark median 2.0% | — | — Benchmark median 4.4% |
| Stockholders' Equity | $19.64B0.3%up Benchmark median 6.8% | $19.58B4.0%up Benchmark median 5.4% | $18.83B1.1%up Benchmark median 7.3% | $18.62B3.6%down Benchmark median 2.5% | $19.32B7.3%down Benchmark median 9.0% | 0.4% Benchmark median 6.1% |
| Cash & Equivalents | $1.07B73.8%up Benchmark median 5.2% | $0.61B9.8%up Benchmark median 1.9% | $0.56B36.4%down Benchmark median 6.7% | $0.88B6.5%down Benchmark median -8.6% | $0.94B26.3%down Benchmark median -2.9% | 3.2% Benchmark median 2.0% |
| Total Debt | $11.12B5.2%down Benchmark median 2.1% | $11.72B1.7%up Benchmark median 0.2% | $11.52B63.6%up Benchmark median 0.3% | $7.04B0.2%down Benchmark median 0.1% | $7.06B1.6%up Benchmark median -0.1% | 12.0% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.11B21.4%up Benchmark median 6.3% | $2.56B22.1%up Benchmark median 4.8% | $2.10B2.9%down Benchmark median 9.9% | $2.16B19.7%down Benchmark median -0.7% | $2.69B3.7%down Benchmark median 10.7% | 3.7% Benchmark median 7.0% |
| Capital Expenditures | $424.00M3.9%up Benchmark median 5.4% | $408.00M9.1%down Benchmark median 2.8% | $449.00M78.2%up Benchmark median 11.3% | $252.00M26.3%down Benchmark median 14.0% | $342.00M7.1%down Benchmark median 8.1% | 5.5% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $2.68B24.7%up Benchmark median 7.3% | $2.15B30.6%up Benchmark median 6.1% | $1.65B13.6%down Benchmark median 8.8% | $1.91B18.7%down Benchmark median -11.3% | $2.35B3.2%down Benchmark median 10.2% | 3.4% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
2.8%
Wall Street
on net earnings
FY2024 3.8%
4.7%
Value investor
on free cash flow
FY2024 5.4%
Gap +1.9 pts: Value-investor figure 1.9 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 35.7×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
4.9%
Wall Street
on EBITDA
FY2024 6.3%
3.1%
Value investor
on EBIT
FY2024 3.8%
Gap −1.8 pts: Value-investor figure 1.8 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 20.2×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
34.2%
Wall Street
on book equity
FY2024 48.9%
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
8.2%
Wall Street
ROE: net income ÷ equity
FY2024 7.8%
5.2%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 5.2%
Gap −3.0 pts: Value-investor figure 3.0 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.19×
Wall Street
Current ratio
FY2024 1.08×
1.02×
Value investor
Quick ratio, inventory excluded
FY2024 0.90×
Gap −0.17×: Value-investor figure 0.17 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.30×
Wall Street
EBITDA ÷ total debt
FY2024 0.27×
0.24×
Value investor
FCF ÷ total debt
FY2024 0.18×
Gap −0.06×: Value-investor figure 0.06 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 3.01×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on LHX yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on LHX and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/LHX
Valuein. (2026, October 31). L3HARRIS TECHNOLOGIES, INC. /DE/ (LHX) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/LHX
@misc{valuein_lhx_2026,
author = {{Valuein}},
title = {L3HARRIS TECHNOLOGIES, INC. /DE/ (LHX) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/LHX}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 12, 2026 · accession 0000202058-26-000015
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