NYSE: LHX
L3Harris
Industrials · Search, Detection, Navigation, Guidance, Aeronautical Sys
52-week range
$232.34$379.23
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$44.1B
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| Period | Market cap |
|---|---|
| FY2017, ended Jun 30, 2017 | $13.1B |
| FY2018, ended Jun 29, 2018 | $17.0B |
| FY2019, ended Jun 28, 2019 | $42.2B |
| FY2019, ended Jan 3, 2020 | $45.7B |
| FY2020, ended Jan 1, 2021 | $38.9B |
| FY2021, ended Dec 31, 2021 | $41.2B |
| FY2022, ended Dec 30, 2022 | $39.6B |
| FY2023, ended Dec 29, 2023 | $40.0B |
| FY2024, ended Jan 3, 2025 | $39.5B |
| FY2025, ended Jan 2, 2026 | $56.9B |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $44.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$23.3B
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| Period | Revenue |
|---|---|
| FY2017, ended Jun 30, 2017 | $5.90B |
| FY2018, ended Jun 29, 2018 | $6.18B |
| FY2019, ended Jun 28, 2019 | $6.80B |
| FY2019, ended Jan 3, 2020 | $12.9B |
| FY2020, ended Jan 1, 2021 | $18.2B |
| FY2021, ended Dec 31, 2021 | $17.8B |
| FY2022, ended Dec 30, 2022 | $17.1B |
| FY2023, ended Dec 29, 2023 | $19.4B |
| FY2024, ended Jan 3, 2025 | $21.3B |
| FY2025, ended Jan 2, 2026 | $21.9B |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $23.3B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Jun 30, 2017 | $543M | $450M |
| FY2018, ended Jun 29, 2018 | $699M | $615M |
| FY2019, ended Jun 28, 2019 | $949M | $1.02B |
| FY2019, ended Jan 3, 2020 | $1.33B | — |
| FY2020, ended Jan 1, 2021 | $1.12B | $2.42B |
| FY2021, ended Dec 31, 2021 | $1.85B | $2.35B |
| FY2022, ended Dec 30, 2022 | $1.06B | $1.91B |
| FY2023, ended Dec 29, 2023 | $1.23B | $1.65B |
| FY2024, ended Jan 3, 2025 | $1.50B | $2.15B |
| FY2025, ended Jan 2, 2026 | $1.61B | $2.68B |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $2.04B | $3.64B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$2.47B
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Jun 30, 2017 | $484M |
| FY2018, ended Jun 29, 2018 | $288M |
| FY2019, ended Jun 28, 2019 | $530M |
| FY2019, ended Jan 3, 2020 | $824M |
| FY2020, ended Jan 1, 2021 | $1.28B |
| FY2021, ended Dec 31, 2021 | $941M |
| FY2022, ended Dec 30, 2022 | $880M |
| FY2023, ended Dec 29, 2023 | $560M |
| FY2024, ended Jan 3, 2025 | $615M |
| FY2025, ended Jan 2, 2026 | $1.07B |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $2.47B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$11.0B
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| Period | Total debt |
|---|---|
| FY2017, ended Jun 30, 2017 | $4.03B |
| FY2018, ended Jun 29, 2018 | $3.79B |
| FY2019, ended Jun 28, 2019 | $3.52B |
| FY2019, ended Jan 3, 2020 | $6.95B |
| FY2020, ended Jan 1, 2021 | $6.95B |
| FY2021, ended Dec 31, 2021 | $7.06B |
| FY2022, ended Dec 30, 2022 | $7.04B |
| FY2023, ended Dec 29, 2023 | $13.1B |
| FY2024, ended Jan 3, 2025 | $12.2B |
| FY2025, ended Jan 2, 2026 | $11.1B |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $11.0B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 55.5% since 2017.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.186M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Jun 30, 2017 | 120M |
| FY2018, ended Jun 29, 2018 | 117M |
| FY2019, ended Jun 28, 2019 | 223M |
| FY2019, ended Jan 3, 2020 | 217M |
| FY2020, ended Jan 1, 2021 | 206M |
| FY2021, ended Dec 31, 2021 | 193M |
| FY2022, ended Dec 30, 2022 | 190M |
| FY2023, ended Dec 29, 2023 | 190M |
| FY2024, ended Jan 3, 2025 | 188M |
| FY2025, ended Jan 2, 2026 | 187M |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | 186M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.Net: $676M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Jun 30, 2017 | $710M | $42.0M |
| FY2018, ended Jun 29, 2018 | $272M | $51.0M |
| FY2019, ended Jun 28, 2019 | $200M | $58.0M |
| FY2019, ended Jan 3, 2020 | — | — |
| FY2020, ended Jan 1, 2021 | $2.29B | $94.0M |
| FY2021, ended Dec 31, 2021 | $3.67B | $129M |
| FY2022, ended Dec 30, 2022 | $1.08B | $109M |
| FY2023, ended Dec 29, 2023 | $518M | $89.0M |
| FY2024, ended Jan 3, 2025 | $554M | $97.0M |
| FY2025, ended Jan 2, 2026 | $1.15B | $113M |
| Trailing 12 months to Oct 2, 2026 (through Q3 FY2026) | $754M | $78.0M |
Revenue (TTM)
$23.3B
+7.3% YoY
Net income (TTM)
$2.04B
+16.2% YoY
Cash
$2.47B
+629% YoY
Total debt
$11.0B
−7.1% YoY
Valuation
At current price- Market Cap
- $51.7B
- P/E
- 25.3×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.2×
- Price / Book
- 2.6×
- EV / EBITDA
- 16.6×
Growth
Trailing 12 months- Revenue (TTM)
- $23.3B
- Revenue Growth YoY
- 7.3%
- Revenue CAGR 3Y
- 8.6%
- Revenue CAGR 5Y
- 3.7%
- EPS Growth YoY
- 15.6%
- Net Income Growth YoY
- 16.2%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 10.7%
- Net Margin
- 8.8%
- FCF Margin
- 15.6%
- Return on Equity
- 10.3%
Earnings
Trailing 12 months- Net Income
- $2.04B
- EPS (diluted)
- $10.74
- EBITDA
- $3.63B
- Operating Income
- $2.48B
Balance Sheet
As of Oct 2, 2026- Cash and cash equivalents
- $2.47B
- Total Debt
- $11.0B
- Net Debt
- $8.53B
- Total Assets
- $43.8B
- Total Liabilities
- $22.6B
- Shareholders' Equity
- $20.2B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $4.18B
- Capital Expenditure
- $544M
- Free Cash Flow
- $3.64B
Dividends and risk
Last 12 months- Dividend Yield
- 1.8%
- Dividend / Share
- $4.95
- Beta (5Y)
- 0.50
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 7.3% year over year, at $23.3B.
Note
Net margin of 8.8% over the last 12 months.
Note
Net debt of $8.53B is 2.3× EBITDA.
Strength
Turns 15.6% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Oct 2, 2026 · filed Oct 29, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2026 · 10-K66Mildly positive
66Mildly positive
10-K for the fiscal year ended Jan 2, 2026
Filed Feb 12, 2026 · Read the filing on EDGAR
- Revenue rose 3% to $21.9 billion and operating income rose 10% to $2.11 billion, even after selling the CAS aviation business in March 2025.
- Backlog grew 13% to $38.7 billion, and management says customer demand is still robust as US and NATO defense budgets rise.
- Operating cash flow jumped to $3.1 billion. Debt fell to about $10.9 billion and buybacks more than doubled to $1.2 billion.
- The company plans an IPO of its Missile Solutions business and agreed to sell a Space Technology unit, which led to an $85 million goodwill write-down.
Business momentum
Improving
“Revenue increased $540 million, or 3%, for fiscal 2025 compared to fiscal 2024 due to higher revenues across all of our segments excluding the impact of the CAS disposal group divestiture”
Outlook
Positive
“Customer demand for our solutions remains robust, and we ended fiscal 2025 with contractual backlog of $38.7 billion, a 13% increase over the prior year.”
Financial stress
Low
“we have not experienced to date, and do not expect to experience, any material issues with liquidity for the next 12 months and in the longer term.”
Tone against the previous report
About the same
Red flags
- Minor
Large write-down
“In fiscal 2025, we recognized a $85 million non-cash charge for impairment of goodwill in connection with execution of the agreement to sell a newly established technology company”
Positives
Backlog up 13%
“we ended fiscal 2025 with contractual backlog of $38.7 billion, a 13% increase over the prior year.”
Strong cash generation
“The $547 million increase in net cash provided by operating activities in fiscal 2025 compared with fiscal 2024 was primarily due to favorable impacts of tax planning strategies and tax reform”
Supportive defense budgets
“Congress passed the Defense Appropriations bill on February 3, 2026, providing $859 billion for DoW programs, an increase of 1% or ~$9 billion over the President's Budget Request.”
Concerns
AR missile and space segment profit fell
“AR operating income decreased primarily due to a $85 million non-cash charge for impairment of goodwill in connection with the Space Technology disposal group”
Cost overruns on some IMS programs
“negative estimate at completion ("EAC") adjustments of $38 million on a classified Maritime program and $25 million from the resolution of a contract matter”
Higher tax rate
“Our effective tax rate increased to 16.9% in fiscal 2025 compared with 5.3% in fiscal 2024.”
New risks since the previous report
Planned IPO of Missile Solutions business
“Strategic transactions, including mergers, acquisitions and divestitures, and the planned initial public offering ("IPO") of the Missile Solutions business, involve significant risks and uncertainties”
Tariffs and trade policy changes, including with Canada
“Beginning in first quarter 2025, we observed a significant shift in U.S. trade policy, with increased tariffs and the imposition of new tariffs that could impact our supply chain and our business.”
Pentagon procurement reform and new low-cost competitors
“The DoW's current procurement reform initiative, including the increased use of other transaction authority ("OTA") agreements, could reduce barriers to entry and result in even greater competition and increased pricing pressure.”
Rivals may adopt AI faster
“Our competitors, including non-traditional new entrants, may incorporate AI technologies into their products or services more quickly or more successfully than us, which could impair our ability to compete.”
Outdated IT systems and manual processes
“Until our digital transformation is fully complete, we will continue to rely on significant manual processes and procedures that subject us to increased risk of error and internal control failure”
Biggest risks named
- Dependence on US government defense spending, shutdowns and budget delays
- Cost overruns on fixed-price contracts
- Rising competition from new entrants and procurement reform
- Tariffs and supply chain disruptions
- Risks from the planned Missile Solutions IPO and divestitures
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −1.5 | |
| New risks | −2 | |
| Score | 66 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 29, 2026 | Pro | |||
| 10-K | Feb 12, 2026 | 66 | Improving | 1 minor | |
| 10-K | Feb 14, 2025 | 72 | Strong improvement | 1 minor | |
| 10-K | Feb 20, 2024 | 72 | Strong improvement | 1 medium | |
| 10-K | Feb 24, 2023 | 40 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Feb 25, 2022 | 68 | Improving | 1 minor | |
| 10-K | Mar 1, 2021 | 55 | Mixed | 1 medium | |
| 10-KT | Mar 3, 2020 | 72 | Strong improvement | 1 minor | |
| 10-K | Aug 22, 2019 | 75 | Strong improvement | None | |
| 10-K | Aug 27, 2018 | 69 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Oct 2, 2026), filed Oct 29, 2026. View filings on SEC EDGAR