L3Harris Technologies (LHX) Financials

$304.80 -4.67 (-1.51%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$307.00 +2.19 (+0.72%)

As of 04:39 AM Eastern

Annual Income Statements for L3Harris Technologies

This table shows L3Harris Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/3/2015	7/1/2016	6/30/2017	6/29/2018	6/28/2019	1/1/2021	12/31/2021	12/30/2022	12/29/2023	1/3/2025	1/2/2026
Net Income / (Loss) Attributable to Common Shareholders	334	324	543	699	949	1,119	1,846	1,062	1,227	1,823	1,606
Consolidated Net Income / (Loss)	334	324	543	699	949	1,086	1,842	1,061	1,198	1,512	1,606
Net Income / (Loss) Continuing Operations	287	611	628	702	953	1,088	1,843	1,061	1,198	1,833	1,606
Total Pre-Tax Income	396	884	889	908	1,113	1,322	2,283	1,273	1,221	1,597	1,932
Total Operating Income	632	1,055	893	920	1,092	1,226	2,109	1,127	1,426	1,918	2,110
Total Gross Profit	1,515	2,160	2,043	2,102	2,334	5,308	5,376	4,927	5,113	5,524	5,625
Total Revenue	3,885	5,992	5,897	6,168	6,801	18,194	17,814	17,062	19,419	21,325	21,865
Operating Revenue	3,885	5,992	5,897	6,168	6,801	18,194	17,814	17,062	19,419	21,325	21,865
Total Cost of Revenue	2,370	3,832	3,854	4,066	4,467	12,886	12,438	12,135	14,306	15,801	16,240
Operating Cost of Revenue	2,370	3,832	3,854	4,066	4,467	12,886	12,438	12,135	14,306	15,801	16,240
Total Operating Expenses	883	1,105	1,150	1,182	1,242	4,082	3,267	3,800	3,687	3,606	3,515
Selling, General & Admin Expense	883	1,105	1,150	1,182	1,242	3,315	3,280	2,998	3,313	3,568	3,430
Impairment Charge	-	-	-	0.00	0.00	767	207	802	374	38	85
Total Other Income / (Expense), net	-236	-171	-4.00	-12	21	96	174	146	-205	0.00	-178
Interest & Investment Income	2.00	2.00	2.00	2.00	-	-	-	-279	-543	0.00	-597
Other Income / (Expense), net	-108	10	166	156	188	350	439	425	338	0.00	419
Income Tax Expense	109	273	261	206	160	234	440	212	23	85	326
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	0.00	-33	-4.00	-1.00	-29	10	0.00
Basic Earnings per Share	$3.15	$2.61	$4.42	$5.88	$8.03	$5.23	$9.17	$5.54	$6.47	$7.91	$8.57
Weighted Average Basic Shares Outstanding	105.70M	123.80M	122.90M	118.90M	-	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Diluted Earnings per Share	$3.11	$2.59	$4.36	$5.76	$7.86	$5.19	$9.09	$5.49	$6.44	$7.87	$8.53
Weighted Average Diluted Shares Outstanding	105.70M	123.80M	122.90M	118.90M	-	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Weighted Average Basic & Diluted Shares Outstanding	105.70M	123.80M	122.90M	118.90M	-	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Cash Dividends to Common per Share	-	-	-	-	-	$3.40	$4.08	$4.48	$4.56	$4.64	$4.80

This table shows L3Harris Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/29/2023	3/29/2024	6/28/2024	9/27/2024	1/3/2025	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026
Net Income / (Loss) Attributable to Common Shareholders	383	158	283	366	400	453	386	458	462	300	512
Consolidated Net Income / (Loss)	382	126	285	367	404	456	386	458	462	300	512
Net Income / (Loss) Continuing Operations	382	126	285	367	404	456	386	458	462	300	512
Total Pre-Tax Income	400	76	290	390	430	487	459	524	567	382	589
Total Operating Income	479	154	378	476	495	569	525	571	621	393	652
Total Gross Profit	1,307	1,453	1,348	1,360	1,419	1,397	1,350	1,335	1,494	1,446	1,402
Total Revenue	4,915	5,340	5,211	5,299	5,292	5,523	5,132	5,426	5,659	5,648	5,744
Operating Revenue	4,915	5,340	5,211	5,299	5,292	5,523	5,132	5,426	5,659	5,648	5,744
Total Cost of Revenue	3,608	3,887	3,863	3,939	3,873	4,126	3,782	4,091	4,165	4,202	4,342
Operating Cost of Revenue	3,608	3,887	3,863	3,939	3,873	4,126	3,782	4,091	4,165	4,202	4,342
Total Operating Expenses	828	1,299	970	884	924	828	825	764	873	1,053	750
Selling, General & Admin Expense	828	925	970	884	924	790	825	764	873	968	750
Total Other Income / (Expense), net	-79	-78	-88	-86	-65	-82	-66	-47	-54	-11	-63
Interest & Investment Income	-	-	-176	-172	-166	-	-150	-152	-152	-143	-136
Other Income / (Expense), net	80	93	88	86	101	79	84	105	98	132	73
Income Tax Expense	18	-50	5.00	23	26	31	73	66	105	82	77
Basic Earnings per Share	$2.02	$0.84	$1.49	$1.93	$2.11	$2.38	$2.05	$2.45	$2.47	$1.60	$2.74
Weighted Average Basic Shares Outstanding	189.30M	190.11M	189.80M	189.71M	189.67M	188.31M	186.95M	187.09M	187.05M	186.78M	186.29M
Diluted Earnings per Share	$2.02	$0.83	$1.48	$1.92	$2.10	$2.37	$2.04	$2.44	$2.46	$1.59	$2.72
Weighted Average Diluted Shares Outstanding	190.10M	190.11M	190.80M	189.71M	189.67M	188.31M	186.95M	187.09M	187.05M	186.78M	186.29M
Weighted Average Basic & Diluted Shares Outstanding	189.54M	190.11M	189.68M	189.71M	189.67M	188.31M	186.95M	187.09M	187.05M	186.78M	186.29M
Cash Dividends to Common per Share	$1.14	$1.14	$1.16	$1.16	-	$1.16	$1.20	$1.20	-	-	$1.25

This table details how cash moves in and out of L3Harris Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/3/2015	7/1/2016	6/30/2017	6/29/2018	6/28/2019	1/1/2021	12/31/2021	12/30/2022	12/29/2023	1/3/2025	1/2/2026
Net Change in Cash & Equivalents	-80	6.00	-3.00	-195	242	452	-335	-61	-320	55	454
Net Cash From Operating Activities	854	924	569	751	1,185	2,790	2,687	2,158	2,096	2,559	3,106
Net Cash From Continuing Operating Activities	854	924	569	751	1,185	2,790	2,687	2,158	2,096	2,559	3,106
Net Income / (Loss) Continuing Operations	334	324	543	699	949	1,086	1,842	1,061	1,198	1,512	1,606
Consolidated Net Income / (Loss)	334	324	543	699	949	1,086	1,842	1,061	1,198	1,512	1,606
Depreciation Expense	233	229	311	142	143	323	340	938	1,166	1,289	1,224
Non-Cash Adjustments To Reconcile Net Income	191	390	-242	-415	-10	669	-823	732	481	-81	-316
Changes in Operating Assets and Liabilities, net	85	-151	-43	208	-12	3.00	701	-573	-749	-161	592
Net Cash From Investing Activities	-3,284	-1.00	870	-141	-159	751	1,394	-250	-7,021	-263	407
Net Cash From Continuing Investing Activities	-3,284	-1.00	870	-141	-159	751	1,394	-250	-7,021	-263	407
Purchase of Property, Plant & Equipment	-148	-152	-119	-136	-161	-368	-342	-252	-449	-408	-424
Acquisitions	-3,186	-	-	-	-	-12	0.00	0.00	-6,688	0.00	0.00
Divestitures	50	170	1,014	0.00	0.00	1,040	1,729	23	71	273	820
Other Investing Activities, net	0.00	0.00	-25	-5.00	2.00	0.00	0.00	-35	45	-128	11
Net Cash From Financing Activities	2,373	-893	-1,438	-805	-781	-3,112	-4,413	-1,951	4,594	-2,224	-3,082
Net Cash From Continuing Financing Activities	2,373	-893	-1,438	-805	-781	-3,112	-4,413	-1,951	4,594	-2,224	-3,082
Repayment of Debt	-1,009	-746	-584	-1,665	-309	-937	-24	-65	-3,392	-3,732	-1,025
Repurchase of Common Equity	-150	0.00	-710	-272	-200	-2,290	-3,675	-1,083	-518	-554	-1,154
Payment of Dividends	-198	-252	-262	-272	-325	-725	-817	-864	-868	-886	-903
Issuance of Debt	3,683	61	85	1,387	27	901	6.00	4.00	9,372	2,948	0.00
Effect of Exchange Rate Changes	-23	-24	-4.00	-	-	23	-3.00	-	11	-17	23

This table details how cash moves in and out of L3Harris Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/29/2023	3/29/2024	6/28/2024	9/27/2024	1/3/2025	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026
Net Change in Cash & Equivalents	133	61	-83	70	-8.00	76	-98	-35	-143	730	-479
Net Cash From Operating Activities	543	789	-104	754	780	1,129	-42	640	546	1,962	-95
Net Cash From Continuing Operating Activities	543	789	-104	754	780	1,129	-42	640	546	1,962	-95
Net Income / (Loss) Continuing Operations	382	126	285	367	404	456	386	458	462	300	512
Consolidated Net Income / (Loss)	382	126	285	367	404	456	386	458	462	300	512
Depreciation Expense	310	350	320	536	324	326	301	303	309	311	282
Non-Cash Adjustments To Reconcile Net Income	28	587	-316	203	-199	231	-417	-183	213	71	85
Changes in Operating Assets and Liabilities, net	-177	-274	-393	-135	251	116	-312	62	-438	1,280	-974
Net Cash From Investing Activities	-4,864	-83	-116	58	-93	-112	744	-78	-129	-130	-97
Net Cash From Continuing Investing Activities	-4,864	-83	-116	58	-93	-112	744	-78	-129	-130	-97
Purchase of Property, Plant & Equipment	-148	-137	-115	-97	-78	-118	-59	-88	-119	-158	-99
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	-	-	-	7.00
Divestitures	-	-	0.00	-	-	115	831	-	-	-11	0.00
Other Investing Activities, net	-1.00	-2.00	-1.00	-3.00	-15	-110	-28	10	-10	39	-5.00
Net Cash From Financing Activities	4,460	-660	144	-744	-709	-915	-805	-610	-560	-1,107	-284
Net Cash From Continuing Financing Activities	4,460	-660	144	-744	-709	-915	-805	-610	-560	-1,107	-284
Repayment of Debt	-1,307	-930	-2,116	-1,108	-498	-675	-8.00	-132	-159	-726	250
Repurchase of Common Equity	-	-	-233	-89	-190	-42	-569	-253	-176	-156	-296
Payment of Dividends	-216	-216	-224	-221	-220	-221	-228	-225	-225	-225	-238
Effect of Exchange Rate Changes	-6.00	15	-7.00	2.00	14	-26	-	13	-	5.00	-3.00

This table presents L3Harris Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/3/2015	7/1/2016	6/30/2017	6/29/2018	1/3/2020	1/1/2021	12/31/2021	12/30/2022	12/29/2023	1/3/2025	1/2/2026
Total Assets	13,127	12,009	10,090	9,851	38,336	36,960	34,709	33,524	41,687	42,001	41,195
Total Current Assets	3,183	2,624	2,073	2,224	6,312	6,667	6,359	6,754	8,055	8,218	8,593
Cash & Equivalents	481	487	484	288	824	1,276	941	880	560	615	1,069
Accounts Receivable	1,168	674	623	466	1,216	1,344	1,045	1,251	1,230	1,072	1,371
Inventories, net	1,015	867	841	411	1,219	1,034	982	1,291	1,472	1,330	1,219
Other Current Assets	165	124	101	885	2,851	2,683	3,293	3,285	3,626	3,691	4,050
Other Current Nonoperating Assets	-	397	-	0.00	0.00	35	0.00	47	1,106	1,131	884
Plant, Property, & Equipment, net	1,165	924	904	900	2,117	0.00	0.00	0.00	0.00	2,806	2,665
Total Noncurrent Assets	8,779	8,461	7,113	6,727	29,907	30,293	28,350	26,770	33,632	30,977	29,937
Goodwill	6,348	5,352	5,366	5,372	20,001	18,876	18,189	17,283	19,979	20,325	20,010
Intangible Assets	1,775	1,231	1,104	989	8,458	7,908	6,640	6,001	8,540	7,639	6,509
Noncurrent Deferred & Refundable Income Taxes	502	549	409	119	102	119	85	73	91	120	76
Other Noncurrent Operating Assets	154	252	234	247	1,346	3,390	3,436	3,413	5,022	2,893	3,342
Total Liabilities & Shareholders' Equity	13,127	12,009	10,090	9,851	38,336	36,960	34,709	33,524	41,687	42,001	41,195
Total Liabilities	9,725	8,952	7,162	6,573	15,592	16,119	15,390	14,900	22,858	22,422	21,560
Total Current Liabilities	2,274	1,981	1,926	1,850	4,009	4,240	4,551	5,776	8,004	7,633	7,226
Short-Term Debt	163	397	634	382	260	10	13	820	1,965	515	673
Accounts Payable	581	494	540	622	1,261	1,406	1,767	1,945	2,106	2,005	2,461
Current Employee Benefit Liabilities	522	165	140	142	460	496	444	398	544	419	482
Other Current Liabilities	-	-	-	372	-	1,198	1,297	1,400	1,129	4,459	3,497
Other Current Nonoperating Liabilities	28	248	-	0.00	0.00	13	0.00	19	272	235	113
Total Noncurrent Liabilities	7,451	6,971	5,236	4,723	11,583	11,879	10,839	9,124	14,854	14,789	14,334
Long-Term Debt	5,053	4,120	3,396	3,408	6,694	6,943	7,048	6,225	11,160	11,081	10,443
Noncurrent Deferred & Payable Income Tax Liabilities	-	4.00	34	79	1,481	1,237	1,344	719	815	942	1,114
Other Noncurrent Operating Liabilities	443	506	528	522	1,589	1,793	1,833	2,180	2,879	2,766	2,777
Total Equity & Noncontrolling Interests	3,402	3,057	2,928	3,278	22,744	20,841	19,319	18,624	18,829	19,579	19,635
Total Preferred & Common Equity	3,397	3,056	2,928	3,278	22,587	20,724	19,213	18,523	18,765	19,514	19,635
Total Common Equity	3,397	3,056	2,928	3,278	22,587	20,724	19,213	18,523	18,765	19,514	19,635
Common Stock	2,155	2,221	1,861	1,832	20,912	19,216	16,442	15,868	15,743	15,748	15,304
Retained Earnings	1,258	1,330	1,343	1,648	2,183	2,347	2,917	2,943	3,220	3,739	4,212
Accumulated Other Comprehensive Income / (Loss)	-16	-495	-276	-202	-508	-839	-146	-288	-198	27	119

This table presents L3Harris Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/29/2023	12/29/2023	3/29/2024	6/28/2024	9/27/2024	1/3/2025	3/28/2025	6/27/2025	10/3/2025	4/3/2026
Total Assets	35,362	42,293	41,687	41,816	41,657	41,889	42,001	41,248	41,240	41,014	41,380
Total Current Assets	6,850	7,501	8,055	8,266	8,047	8,302	8,218	7,596	7,608	7,593	8,894
Cash & Equivalents	366	499	560	477	547	539	615	517	482	339	590
Accounts Receivable	1,383	1,381	1,230	1,209	1,230	1,042	1,072	1,501	1,437	1,528	1,912
Inventories, net	1,555	1,638	1,472	1,476	1,432	1,399	1,330	1,252	1,258	1,291	1,234
Other Current Assets	3,498	3,940	3,626	3,968	3,711	3,863	3,691	4,121	4,338	4,154	4,232
Other Current Nonoperating Assets	0.00	0.00	1,106	1,136	1,127	1,130	1,131	0.00	0.00	0.00	926
Plant, Property, & Equipment, net	0.00	2,818	0.00	2,836	0.00	2,795	0.00	2,755	2,742	2,761	2,658
Total Noncurrent Assets	28,512	31,974	33,632	30,714	33,610	30,792	33,783	30,897	30,890	30,660	29,828
Goodwill	18,417	20,736	19,979	20,070	20,367	20,433	20,325	20,337	20,372	20,370	19,999
Intangible Assets	6,401	9,050	8,540	8,340	8,080	7,874	7,639	7,448	7,261	7,072	6,331
Noncurrent Deferred & Refundable Income Taxes	84	87	91	113	134	119	120	128	89	87	71
Other Noncurrent Operating Assets	3,610	2,101	5,022	2,191	5,029	2,366	5,699	2,984	3,168	3,131	3,427
Total Liabilities & Shareholders' Equity	35,362	42,293	41,687	41,816	41,657	41,889	42,001	41,248	41,240	41,014	41,380
Total Liabilities	16,831	23,577	22,858	23,086	22,753	22,827	22,422	22,118	21,962	21,482	21,700
Total Current Liabilities	6,309	8,482	8,004	8,437	8,981	7,973	7,633	7,449	7,322	6,638	8,601
Short-Term Debt	943	2,396	1,965	2,568	2,719	1,817	1,155	1,275	1,126	725	2,166
Accounts Payable	2,029	2,112	2,106	2,112	1,896	2,049	2,005	2,047	2,033	1,902	1,930
Current Employee Benefit Liabilities	389	461	544	379	445	402	419	314	444	486	391
Other Current Liabilities	1,648	1,940	1,129	1,777	1,889	3,427	1,648	3,813	3,719	3,525	4,003
Other Current Nonoperating Liabilities	0.00	0.00	272	245	243	243	235	0.00	0.00	0.00	111
Total Noncurrent Liabilities	10,522	15,095	14,854	14,649	13,772	14,854	14,789	14,669	14,640	14,844	13,099
Long-Term Debt	7,867	11,140	11,160	11,140	10,533	11,093	11,081	10,977	10,976	10,997	9,191
Noncurrent Deferred & Payable Income Tax Liabilities	452	812	815	683	443	885	942	842	800	1,039	1,225
Other Noncurrent Operating Liabilities	2,019	2,215	2,879	2,826	2,796	2,876	2,766	2,850	2,864	2,808	2,683
Total Equity & Noncontrolling Interests	18,531	18,716	18,829	18,730	18,904	19,062	19,579	19,130	19,278	19,532	19,680
Total Preferred & Common Equity	18,428	18,616	18,765	18,666	18,840	18,998	19,514	19,131	19,278	19,532	19,680
Total Common Equity	18,428	18,616	18,765	18,666	18,840	18,998	19,514	19,131	19,278	19,532	19,680
Common Stock	15,580	15,659	15,743	15,661	15,706	15,677	15,748	15,358	15,277	15,339	15,161
Retained Earnings	3,111	3,278	3,220	3,239	3,368	3,515	3,739	3,787	3,970	4,171	4,421
Accumulated Other Comprehensive Income / (Loss)	-263	-321	-198	-234	-234	-194	27	-14	31	22	98

This table displays calculated financial ratios and metrics derived from L3Harris Technologies' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	7/3/2015	7/1/2016	6/30/2017	6/29/2018	6/28/2019	1/1/2021	12/31/2021	12/30/2022	12/29/2023	1/3/2025	1/2/2026
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-22.49%	54.23%	-1.59%	4.60%	10.26%	167.52%	-2.09%	-4.22%	13.81%	9.82%	2.53%
EBITDA Growth	-29.54%	85.68%	-3.93%	-2.55%	15.21%	69.57%	34.78%	-29.16%	17.67%	21.54%	17.03%
EBIT Growth	-40.86%	103.24%	-0.56%	1.61%	18.96%	23.13%	61.68%	-39.09%	13.66%	28.80%	31.86%
NOPAT Growth	-23.40%	59.20%	-13.49%	12.75%	31.46%	7.91%	68.74%	-44.83%	48.95%	29.79%	-3.41%
Net Income Growth	-37.45%	-2.99%	67.59%	28.73%	35.77%	14.44%	69.61%	-42.40%	12.91%	26.21%	6.22%
EPS Growth	-37.17%	-16.72%	68.34%	32.11%	36.46%	-33.97%	75.14%	-39.60%	17.30%	22.21%	8.39%
Operating Cash Flow Growth	0.59%	8.20%	-38.42%	31.99%	57.79%	135.44%	-3.69%	-19.69%	-2.87%	22.09%	21.38%
Free Cash Flow Firm Growth	-783.51%	159.66%	-97.69%	545.08%	259.51%	-1,419.75%	114.35%	-41.39%	-372.05%	147.09%	17.26%
Invested Capital Growth	174.33%	-25.22%	9.62%	4.73%	-7.70%	323.39%	-3.99%	-2.67%	23.42%	-0.84%	-4.81%
Revenue Q/Q Growth	-20.35%	10.03%	12.52%	2.02%	-26.87%	43.31%	-1.71%	1.35%	4.08%	0.87%	0.58%
EBITDA Q/Q Growth	-27.93%	29.28%	1.86%	20.38%	-22.36%	75.62%	10.15%	-2.01%	-19.39%	11.84%	-3.55%
EBIT Q/Q Growth	-38.08%	39.95%	5.16%	3.16%	-8.83%	9.98%	15.61%	-3.00%	-16.95%	21.43%	-4.64%
NOPAT Q/Q Growth	-23.42%	19.49%	-8.46%	29.46%	6.72%	-8.01%	31.38%	-18.33%	-10.77%	21.23%	-11.30%
Net Income Q/Q Growth	-35.89%	200.00%	-6.70%	15.16%	-12.62%	11.04%	19.46%	-5.94%	-19.54%	27.92%	-8.85%
EPS Q/Q Growth	-36.79%	264.79%	-6.24%	14.97%	7.82%	-21.24%	0.00%	0.00%	-17.44%	24.33%	-8.38%
Operating Cash Flow Q/Q Growth	8.10%	-4.35%	-37.20%	142.26%	-10.09%	12.50%	4.84%	-1.82%	0.34%	15.32%	36.65%
Free Cash Flow Firm Q/Q Growth	-711.24%	166.58%	-97.03%	392.47%	46.42%	-0.58%	-3.68%	-1.81%	16.08%	-23.40%	97.71%
Invested Capital Q/Q Growth	167.20%	-22.83%	4.00%	-1.92%	-7.89%	-1.90%	0.00%	-0.73%	-3.76%	-0.79%	-8.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.00%	36.05%	34.64%	34.08%	34.32%	29.17%	30.18%	28.88%	26.33%	25.90%	25.73%
EBITDA Margin	19.77%	23.80%	23.23%	21.64%	22.61%	14.33%	19.73%	14.59%	15.09%	16.70%	17.16%
Operating Margin	16.27%	17.61%	15.14%	14.92%	16.06%	6.74%	11.84%	6.61%	7.34%	8.99%	9.65%
EBIT Margin	13.49%	17.77%	17.96%	17.44%	18.82%	8.66%	14.30%	9.10%	9.08%	10.65%	11.57%
Profit (Net Income) Margin	8.60%	5.41%	9.21%	11.33%	13.95%	5.97%	10.34%	6.22%	6.17%	7.09%	7.35%
Tax Burden Percent	84.34%	36.65%	61.08%	76.98%	85.27%	82.15%	80.68%	83.35%	98.12%	94.68%	83.13%
Interest Burden Percent	75.57%	83.00%	83.95%	84.39%	86.95%	83.88%	89.60%	82.02%	69.22%	70.29%	76.39%
Effective Tax Rate	27.53%	30.88%	29.36%	22.69%	14.38%	17.70%	19.27%	16.65%	1.88%	5.32%	16.87%
Return on Invested Capital (ROIC)	8.50%	10.56%	10.19%	10.73%	14.34%	6.16%	6.56%	3.74%	5.06%	5.97%	6.06%
ROIC Less NNEP Spread (ROIC-NNEP)	4.03%	-0.47%	7.44%	10.38%	14.78%	7.96%	8.93%	5.73%	2.81%	3.26%	4.47%
Return on Net Nonoperating Assets (RNNOA)	4.28%	-0.53%	7.95%	11.79%	14.24%	2.81%	2.62%	1.85%	1.34%	1.91%	2.13%
Return on Equity (ROE)	12.78%	10.03%	18.15%	22.53%	28.58%	8.97%	9.17%	5.59%	6.40%	7.87%	8.19%
Cash Return on Invested Capital (CROIC)	-84.64%	39.43%	1.02%	6.12%	22.35%	-117.41%	10.63%	6.44%	-15.91%	6.81%	10.98%
Operating Return on Assets (OROA)	5.81%	8.47%	9.58%	10.79%	12.82%	6.70%	7.11%	4.55%	4.69%	5.43%	6.08%
Return on Assets (ROA)	3.70%	2.58%	4.91%	7.01%	9.51%	4.61%	5.14%	3.11%	3.19%	3.61%	3.86%
Return on Common Equity (ROCE)	12.77%	10.02%	18.14%	22.53%	28.58%	8.93%	9.12%	5.56%	6.37%	7.85%	8.18%
Return on Equity Simple (ROE_SIMPLE)	9.83%	10.60%	18.55%	21.32%	28.22%	5.24%	9.59%	5.73%	6.38%	7.75%	0.00%
Net Operating Profit after Tax (NOPAT)	458	729	631	711	935	1,009	1,703	939	1,399	1,816	1,754
NOPAT Margin	11.79%	12.17%	10.70%	11.53%	13.75%	5.55%	9.56%	5.51%	7.21%	8.52%	8.02%
Net Nonoperating Expense Percent (NNEP)	4.47%	11.03%	2.75%	0.35%	-0.44%	-1.80%	-2.37%	-1.99%	2.25%	2.71%	1.58%
Return On Investment Capital (ROIC_SIMPLE)	5.31%	9.63%	9.07%	10.06%	13.58%	3.63%	6.45%	3.66%	4.38%	5.71%	5.83%
Cost of Revenue to Revenue	61.00%	63.95%	65.36%	65.92%	65.68%	70.83%	69.82%	71.12%	73.67%	74.10%	74.27%
SG&A Expenses to Revenue	22.73%	18.44%	19.50%	19.16%	18.26%	18.22%	18.41%	17.57%	17.06%	16.73%	15.69%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.73%	18.44%	19.50%	19.16%	18.26%	22.44%	18.34%	22.27%	18.99%	16.91%	16.08%
Earnings before Interest and Taxes (EBIT)	524	1,065	1,059	1,076	1,280	1,576	2,548	1,552	1,764	2,272	2,529
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	768	1,426	1,370	1,335	1,538	2,608	3,515	2,490	2,930	3,561	3,753
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.97	2.85	3.92	4.60	5.93	1.75	2.03	2.04	2.07	2.03	2.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.72	1.46	1.95	2.44	2.93	2.00	2.19	2.21	2.00	1.86	2.60
Price to Earnings (P/E)	20.04	26.91	21.15	21.55	21.02	32.49	21.15	35.50	31.71	26.34	35.46
Dividend Yield	3.59%	2.86%	2.25%	1.80%	1.96%	1.96%	2.05%	2.26%	2.22%	2.22%	1.58%
Earnings Yield	4.99%	3.72%	4.73%	4.64%	4.76%	3.08%	4.73%	2.82%	3.15%	3.80%	2.82%
Enterprise Value to Invested Capital (EV/IC)	1.41	2.16	2.32	2.74	3.67	1.59	1.78	1.78	1.69	1.69	2.35
Enterprise Value to Revenue (EV/Rev)	2.87	2.13	2.55	3.01	3.37	2.32	2.54	2.58	2.65	2.40	3.03
Enterprise Value to EBITDA (EV/EBITDA)	14.54	8.94	10.97	13.91	14.92	16.16	12.88	17.66	17.59	14.39	17.67
Enterprise Value to EBIT (EV/EBIT)	21.31	11.97	14.20	17.26	17.92	26.75	17.77	28.33	29.22	22.56	26.23
Enterprise Value to NOPAT (EV/NOPAT)	24.38	17.48	23.83	26.10	24.53	41.78	26.59	46.81	36.83	28.22	37.82
Enterprise Value to Operating Cash Flow (EV/OCF)	13.07	13.80	26.42	24.72	19.36	15.11	16.85	20.37	24.59	20.03	21.35
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	4.69	239.27	45.81	15.74	0.00	16.40	27.19	0.00	24.74	20.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.53	1.48	1.38	1.16	1.05	0.33	0.37	0.38	0.70	0.63	0.53
Long-Term Debt to Equity	1.49	1.35	1.16	1.04	0.82	0.33	0.36	0.33	0.59	0.57	0.53
Financial Leverage	1.06	1.14	1.07	1.14	0.96	0.35	0.29	0.32	0.48	0.58	0.48
Leverage Ratio	3.45	3.89	3.69	3.21	3.01	1.95	1.78	1.80	2.01	2.18	2.12
Compound Leverage Factor	2.61	3.23	3.10	2.71	2.61	1.63	1.60	1.48	1.39	1.53	1.62
Debt to Total Capital	60.52%	59.64%	57.92%	53.62%	51.15%	25.02%	26.77%	27.45%	41.07%	38.46%	34.72%
Short-Term Debt to Total Capital	1.89%	5.24%	9.11%	5.40%	11.02%	0.04%	0.05%	3.19%	6.15%	3.63%	0.00%
Long-Term Debt to Total Capital	58.63%	54.40%	48.81%	48.22%	40.13%	24.98%	26.72%	24.25%	34.93%	34.83%	34.72%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.06%	0.01%	0.00%	0.00%	0.00%	0.42%	0.40%	0.39%	0.20%	0.20%	0.00%
Common Equity to Total Capital	39.42%	40.35%	42.08%	46.38%	48.85%	74.56%	72.83%	72.16%	58.73%	61.34%	65.28%
Debt to EBITDA	6.79	3.17	2.94	2.84	2.29	2.67	2.01	2.83	4.48	3.44	2.78
Net Debt to EBITDA	5.82	2.83	2.59	2.62	1.95	2.18	1.74	2.48	4.29	3.26	2.50
Long-Term Debt to EBITDA	6.58	2.89	2.48	2.55	1.80	2.66	2.01	2.50	3.81	3.11	2.78
Debt to NOPAT	11.39	6.19	6.39	5.33	3.77	6.89	4.15	7.50	9.38	6.74	5.95
Net Debt to NOPAT	9.75	5.53	5.62	4.92	3.20	5.63	3.59	6.56	8.98	6.40	5.34
Long-Term Debt to NOPAT	11.03	5.65	5.38	4.79	2.96	6.88	4.14	6.63	7.98	6.10	5.95
Altman Z-Score	1.06	1.60	2.10	2.64	3.20	2.15	2.46	2.34	1.74	1.89	2.50
Noncontrolling Interest Sharing Ratio	0.08%	0.09%	0.02%	0.00%	0.00%	0.48%	0.56%	0.55%	0.44%	0.34%	0.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.32	1.08	1.20	1.14	1.57	1.40	1.17	1.01	1.08	1.19
Quick Ratio	0.84	0.59	0.57	0.41	0.44	0.62	0.44	0.37	0.22	0.22	0.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4,561	2,721	63	405	1,457	-19,229	2,760	1,617	-4,400	2,072	3,180
Operating Cash Flow to CapEx	577.03%	607.89%	478.15%	552.21%	736.02%	1,007.22%	802.09%	906.72%	533.33%	628.75%	732.55%
Free Cash Flow to Firm to Interest Expense	-35.08	14.87	0.37	2.38	8.72	-75.70	10.41	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.57	5.05	3.31	4.42	7.10	10.98	10.14	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	5.43	4.22	2.62	3.62	6.13	9.89	8.88	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.43	0.48	0.53	0.62	0.68	0.77	0.50	0.50	0.52	0.51	0.53
Accounts Receivable Turnover	4.48	6.51	9.09	11.33	14.74	20.20	14.91	14.86	15.65	18.53	17.90
Inventory Turnover	2.90	4.07	4.51	6.50	11.59	18.49	12.34	10.68	10.36	11.28	12.74
Fixed Asset Turnover	4.10	5.74	6.45	6.84	7.58	0.00	0.00	0.00	0.00	0.00	7.99
Accounts Payable Turnover	5.24	7.13	7.45	7.00	7.79	13.35	7.84	6.54	7.06	7.69	7.27
Days Sales Outstanding (DSO)	81.46	56.10	40.14	32.22	24.77	18.07	24.47	24.56	23.32	19.70	20.39
Days Inventory Outstanding (DIO)	125.82	89.63	80.88	56.20	31.50	19.74	29.58	34.18	35.25	32.36	28.64
Days Payable Outstanding (DPO)	69.69	51.20	48.96	52.16	46.86	27.35	46.56	55.83	51.68	47.48	50.19
Cash Conversion Cycle (CCC)	137.59	94.54	72.06	36.26	9.41	10.46	7.50	2.92	6.89	4.58	-1.15
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,898	5,906	6,474	6,780	6,258	26,496	25,439	24,761	30,560	30,304	28,238
Invested Capital Turnover	0.72	0.87	0.95	0.93	1.04	1.11	0.69	0.68	0.70	0.70	0.76
Increase / (Decrease) in Invested Capital	5,019	-1,992	568	306	-522	20,238	-1,057	-678	5,799	-256	-1,426
Enterprise Value (EV)	11,165	12,749	15,033	18,567	22,939	42,153	45,269	43,968	51,537	51,252	66,328
Market Capitalization	6,692	8,718	11,487	15,065	19,947	36,359	39,043	37,702	38,908	39,566	56,954
Book Value per Share	$32.56	$24.50	$24.02	$27.61	$28.47	$98.63	$97.91	$97.28	$99.00	$102.88	$104.97
Tangible Book Value per Share	($45.30)	($28.28)	($29.05)	($25.97)	($24.10)	($28.84)	($28.62)	($25.00)	($51.46)	($44.55)	($36.80)
Total Capital	8,618	7,574	6,958	7,068	6,885	27,794	26,380	25,669	31,954	31,815	30,078
Total Debt	5,216	4,517	4,030	3,790	3,522	6,953	7,061	7,045	13,125	12,236	10,443
Total Long-Term Debt	5,053	4,120	3,396	3,408	2,763	6,943	7,048	6,225	11,160	11,081	10,443
Net Debt	4,468	4,030	3,546	3,502	2,992	5,677	6,120	6,165	12,565	11,621	9,374
Capital Expenditures (CapEx)	148	152	119	136	161	277	335	238	393	407	424
Debt-free, Cash-free Net Working Capital (DFCFNWC)	324	553	297	468	539	1,161	880	918	1,456	1,125	298
Debt-free Net Working Capital (DFNWC)	1,072	1,040	781	756	1,069	2,437	1,821	1,798	2,016	1,740	1,367
Net Working Capital (NWC)	909	643	147	374	310	2,427	1,808	978	51	585	1,367
Net Nonoperating Expense (NNE)	124	405	88	12	-14	-77	-139	-122	201	304	148
Net Nonoperating Obligations (NNO)	4,496	2,849	3,546	3,502	2,895	5,655	6,120	6,137	11,731	10,725	8,603
Total Depreciation and Amortization (D&A)	244	361	311	259	258	1,032	967	938	1,166	1,289	1,224
Debt-free, Cash-free Net Working Capital to Revenue	8.34%	9.23%	5.04%	7.59%	7.93%	6.38%	4.94%	5.38%	7.50%	5.28%	1.36%
Debt-free Net Working Capital to Revenue	27.59%	17.36%	13.24%	12.26%	15.72%	13.39%	10.22%	10.54%	10.38%	8.16%	6.25%
Net Working Capital to Revenue	23.40%	10.73%	2.49%	6.06%	4.56%	13.34%	10.15%	5.73%	0.26%	2.74%	6.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.15	$2.61	$4.50	$6.04	$8.03	$5.23	$9.17	$5.54	$6.47	$7.91	$8.57
Adjusted Weighted Average Basic Shares Outstanding	124.07M	124.22M	119.76M	117.32M	0.00	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Adjusted Diluted Earnings per Share	$3.11	$2.59	$4.44	$5.92	$7.86	$5.19	$9.09	$5.49	$6.44	$7.87	$8.53
Adjusted Weighted Average Diluted Shares Outstanding	124.07M	124.22M	119.76M	117.32M	0.00	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$8.03	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	124.07M	124.22M	119.76M	117.32M	0.00	205.57M	193.07M	190.09M	190.11M	188.31M	186.78M
Normalized Net Operating Profit after Tax (NOPAT)	458	729	631	711	935	1,640	1,692	1,608	1,766	1,852	1,825
Normalized NOPAT Margin	11.79%	12.17%	10.70%	11.53%	13.75%	9.02%	9.50%	9.42%	9.09%	8.68%	8.34%
Pre Tax Income Margin	10.19%	14.75%	15.08%	14.72%	16.37%	7.27%	12.82%	7.46%	6.29%	7.49%	8.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.03	5.82	6.16	6.33	7.66	6.20	9.62	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	3.52	3.98	3.67	4.18	5.60	3.97	6.42	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	2.89	4.99	5.47	5.53	6.70	5.11	8.35	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	2.38	3.15	2.98	3.38	4.63	2.88	5.16	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.28%	77.78%	48.25%	38.91%	34.25%	66.76%	44.35%	81.43%	72.45%	58.60%	56.23%
Augmented Payout Ratio	104.19%	77.78%	179.01%	77.83%	55.32%	277.62%	243.87%	183.51%	115.69%	95.24%	128.08%

This table displays calculated financial ratios and metrics derived from L3Harris Technologies' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/29/2023	3/29/2024	6/28/2024	9/27/2024	1/3/2025	3/28/2025	6/27/2025	10/3/2025	1/2/2026	4/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	186,776,263.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	186,776,263.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.74
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.76%	16.64%	16.55%	12.91%	7.67%	3.43%	-1.52%	2.40%	6.94%	2.26%	11.93%
EBITDA Growth	4,673.68%	-54.15%	8.41%	21.46%	5.87%	63.15%	15.78%	11.12%	11.74%	34.84%	10.66%
EBIT Growth	322.71%	-59.31%	-1.89%	16.36%	6.62%	162.35%	30.69%	20.28%	20.64%	78.57%	19.05%
NOPAT Growth	286.71%	-34.07%	4.01%	18.68%	1.67%	108.68%	18.85%	11.42%	8.80%	-42.07%	28.37%
Net Income Growth	226.91%	-69.78%	-15.93%	4.56%	5.76%	261.90%	35.44%	24.80%	14.36%	-34.21%	32.64%
EPS Growth	229.49%	-62.10%	-15.91%	4.92%	3.96%	185.54%	37.84%	27.08%	17.14%	-32.91%	33.33%
Operating Cash Flow Growth	-7.65%	0.90%	-129.71%	82.13%	43.65%	43.09%	59.62%	-15.12%	-30.00%	73.78%	-126.19%
Free Cash Flow Firm Growth	-2,621.25%	-620.40%	-711.17%	-322.49%	126.32%	114.23%	116.82%	109.88%	-91.81%	21.41%	178.38%
Invested Capital Growth	27.31%	23.42%	15.70%	13.90%	-3.80%	-0.84%	-0.66%	0.56%	1.21%	-4.81%	-3.99%
Revenue Q/Q Growth	4.73%	8.65%	-2.42%	1.69%	-0.13%	4.37%	-7.08%	5.73%	4.29%	-0.19%	1.70%
EBITDA Q/Q Growth	-3.87%	-31.30%	31.66%	39.69%	-16.21%	5.87%	-6.57%	7.58%	5.01%	-18.68%	20.45%
EBIT Q/Q Growth	15.74%	-55.81%	88.66%	20.60%	6.05%	8.72%	-6.02%	11.00%	6.36%	-26.98%	38.10%
NOPAT Q/Q Growth	21.20%	-44.19%	45.50%	20.58%	3.83%	14.56%	-17.13%	13.04%	1.39%	-39.00%	83.63%
Net Income Q/Q Growth	8.83%	-67.02%	126.19%	28.77%	10.08%	12.87%	-15.35%	18.65%	0.87%	-35.06%	70.67%
EPS Q/Q Growth	10.38%	-58.91%	78.31%	29.73%	9.38%	12.86%	-13.92%	19.61%	0.82%	-35.37%	71.07%
Operating Cash Flow Q/Q Growth	31.16%	45.30%	-113.18%	825.00%	3.45%	44.74%	-103.72%	1,623.81%	-14.69%	259.34%	-104.84%
Free Cash Flow Firm Q/Q Growth	-712.91%	12.75%	30.67%	14.09%	150.64%	-52.83%	-18.04%	-49.56%	-57.99%	1,166.16%	3.75%
Invested Capital Q/Q Growth	17.71%	-3.76%	1.67%	-1.11%	-0.58%	-0.79%	1.85%	0.11%	0.06%	-8.66%	4.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.59%	27.21%	25.87%	25.67%	26.81%	25.29%	26.31%	24.60%	26.40%	25.60%	24.41%
EBITDA Margin	17.68%	11.18%	15.08%	20.72%	17.38%	17.64%	17.73%	18.04%	18.17%	14.80%	17.53%
Operating Margin	9.75%	2.88%	7.25%	8.98%	9.35%	10.30%	10.23%	10.52%	10.97%	6.96%	11.35%
EBIT Margin	11.37%	4.63%	8.94%	10.61%	11.26%	11.73%	11.87%	12.46%	12.71%	9.30%	12.62%
Profit (Net Income) Margin	7.77%	2.36%	5.47%	6.93%	7.63%	8.26%	7.52%	8.44%	8.16%	5.31%	8.91%
Tax Burden Percent	95.50%	165.79%	98.28%	94.10%	93.95%	93.63%	84.10%	87.40%	81.48%	78.53%	86.93%
Interest Burden Percent	71.56%	30.77%	62.23%	69.40%	72.15%	75.15%	75.37%	77.51%	78.86%	72.76%	81.24%
Effective Tax Rate	4.50%	-65.79%	1.72%	5.90%	6.05%	6.37%	15.90%	12.60%	18.52%	21.47%	13.07%
Return on Invested Capital (ROIC)	6.13%	3.36%	4.96%	6.08%	5.96%	6.76%	5.90%	6.38%	6.33%	4.13%	7.33%
ROIC Less NNEP Spread (ROIC-NNEP)	5.35%	1.91%	4.13%	5.29%	5.47%	6.08%	5.44%	6.03%	5.94%	4.03%	6.83%
Return on Net Nonoperating Assets (RNNOA)	2.82%	0.91%	2.31%	2.86%	3.55%	3.55%	3.46%	3.70%	3.52%	1.92%	3.81%
Return on Equity (ROE)	8.94%	4.27%	7.27%	8.95%	9.51%	10.31%	9.36%	10.08%	9.85%	6.05%	11.15%
Cash Return on Invested Capital (CROIC)	-18.50%	-15.91%	-9.66%	-7.83%	8.68%	6.81%	6.75%	5.73%	5.23%	10.98%	10.29%
Operating Return on Assets (OROA)	5.61%	2.39%	4.66%	5.72%	5.66%	5.98%	6.07%	6.42%	6.66%	4.89%	6.87%
Return on Assets (ROA)	3.83%	1.22%	2.85%	3.73%	3.83%	4.21%	3.85%	4.35%	4.28%	2.79%	4.85%
Return on Common Equity (ROCE)	8.89%	4.25%	7.24%	8.91%	9.47%	10.28%	9.35%	10.07%	9.83%	6.04%	11.15%
Return on Equity Simple (ROE_SIMPLE)	8.00%	0.00%	6.13%	6.16%	6.22%	0.00%	8.43%	8.84%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	457	255	371	448	465	533	442	499	506	309	567
NOPAT Margin	9.31%	4.78%	7.13%	8.45%	8.79%	9.65%	8.60%	9.20%	8.94%	5.46%	9.87%
Net Nonoperating Expense Percent (NNEP)	0.77%	1.45%	0.83%	0.80%	0.50%	0.68%	0.46%	0.35%	0.38%	0.09%	0.51%
Return On Investment Capital (ROIC_SIMPLE)	1.42%	0.80%	1.15%	1.39%	1.45%	1.67%	1.41%	1.59%	1.62%	1.03%	1.83%
Cost of Revenue to Revenue	73.41%	72.79%	74.13%	74.33%	73.19%	74.71%	73.69%	75.40%	73.60%	74.40%	75.59%
SG&A Expenses to Revenue	16.85%	17.32%	18.61%	16.68%	17.46%	14.30%	16.08%	14.08%	15.43%	17.14%	13.06%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.85%	24.33%	18.61%	16.68%	17.46%	14.99%	16.08%	14.08%	15.43%	18.64%	13.06%
Earnings before Interest and Taxes (EBIT)	559	247	466	562	596	648	609	676	719	525	725
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	869	597	786	1,098	920	974	910	979	1,028	836	1,007
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.71	2.07	2.12	2.23	2.32	2.03	2.05	2.40	2.85	2.90	3.38
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.71	2.00	1.96	2.02	2.09	1.86	1.84	2.16	2.56	2.60	2.96
Price to Earnings (P/E)	21.48	31.71	33.74	35.26	36.56	26.34	24.38	27.21	31.63	35.46	38.39
Dividend Yield	2.69%	2.22%	2.19%	2.08%	1.99%	2.22%	2.25%	1.91%	1.60%	1.58%	1.36%
Earnings Yield	4.66%	3.15%	2.96%	2.84%	2.74%	3.80%	4.10%	3.68%	3.16%	2.82%	2.60%
Enterprise Value to Invested Capital (EV/IC)	1.42	1.69	1.70	1.78	1.85	1.69	1.65	1.87	2.17	2.35	2.61
Enterprise Value to Revenue (EV/Rev)	2.41	2.65	2.62	2.64	2.68	2.40	2.39	2.70	3.08	3.03	3.44
Enterprise Value to EBITDA (EV/EBITDA)	12.39	17.59	17.99	17.47	17.76	14.39	13.80	15.28	17.23	17.67	20.07
Enterprise Value to EBIT (EV/EBIT)	21.20	29.22	30.13	29.84	30.23	22.56	21.06	22.85	25.27	26.23	29.21
Enterprise Value to NOPAT (EV/NOPAT)	28.72	36.83	37.28	36.68	37.76	28.22	26.96	29.83	33.89	37.82	41.12
Enterprise Value to Operating Cash Flow (EV/OCF)	21.56	24.59	32.20	27.61	25.49	20.03	19.40	23.05	29.49	21.35	25.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	20.91	24.74	24.32	32.76	41.67	20.86	24.83
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.72	0.70	0.73	0.70	0.68	0.63	0.64	0.63	0.60	0.53	0.58
Long-Term Debt to Equity	0.60	0.59	0.59	0.56	0.58	0.57	0.57	0.57	0.56	0.53	0.47
Financial Leverage	0.53	0.48	0.56	0.54	0.65	0.58	0.64	0.61	0.59	0.48	0.56
Leverage Ratio	2.04	2.01	2.08	2.06	2.23	2.18	2.19	2.17	2.15	2.12	2.13
Compound Leverage Factor	1.46	0.62	1.30	1.43	1.61	1.64	1.65	1.68	1.69	1.54	1.73
Debt to Total Capital	41.97%	41.07%	42.26%	41.21%	40.38%	38.46%	39.04%	38.57%	37.51%	34.72%	36.59%
Short-Term Debt to Total Capital	7.43%	6.15%	7.92%	8.46%	5.68%	3.63%	4.06%	3.59%	2.32%	0.00%	6.98%
Long-Term Debt to Total Capital	34.54%	34.93%	34.34%	32.76%	34.70%	34.83%	34.98%	34.98%	35.19%	34.72%	29.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.31%	0.20%	0.20%	0.20%	0.20%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.72%	58.73%	57.54%	58.59%	59.42%	61.34%	60.96%	61.43%	62.49%	65.28%	63.41%
Debt to EBITDA	3.72	4.48	4.66	4.23	4.05	3.44	3.32	3.20	3.01	2.78	2.95
Net Debt to EBITDA	3.59	4.29	4.50	4.06	3.89	3.26	3.18	3.07	2.93	2.50	2.80
Long-Term Debt to EBITDA	3.06	3.81	3.79	3.36	3.48	3.11	2.98	2.90	2.83	2.78	2.39
Debt to NOPAT	8.63	9.38	9.66	8.88	8.62	6.74	6.50	6.25	5.93	5.95	6.04
Net Debt to NOPAT	8.31	8.98	9.33	8.51	8.26	6.40	6.22	6.00	5.76	5.34	5.73
Long-Term Debt to NOPAT	7.10	7.98	7.85	7.06	7.41	6.10	5.82	5.67	5.56	5.95	4.89
Altman Z-Score	1.38	1.62	1.65	1.74	1.84	1.76	1.76	1.98	2.31	2.34	2.60
Noncontrolling Interest Sharing Ratio	0.54%	0.44%	0.45%	0.45%	0.43%	0.34%	0.17%	0.17%	0.17%	0.17%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.88	1.01	0.98	0.90	1.04	1.08	1.02	1.04	1.14	1.19	1.03
Quick Ratio	0.22	0.22	0.20	0.20	0.20	0.22	0.27	0.26	0.28	0.34	0.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,354	-5,544	-3,844	-3,302	1,672	789	647	326	137	1,735	1,800
Operating Cash Flow to CapEx	366.89%	575.91%	-90.43%	777.32%	1,000.00%	956.78%	-71.19%	727.27%	458.82%	1,241.77%	-103.26%
Free Cash Flow to Firm to Interest Expense	-39.96	0.00	-21.84	-19.20	10.07	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	3.42	0.00	-0.59	4.38	4.70	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.48	0.00	-1.24	3.82	4.23	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.52	0.52	0.54	0.50	0.51	0.51	0.52	0.52	0.53	0.54
Accounts Receivable Turnover	14.81	15.65	16.52	15.89	17.45	18.53	15.68	16.03	16.92	17.90	13.17
Inventory Turnover	9.23	10.36	9.85	10.24	10.25	11.28	11.52	11.80	12.02	12.74	13.52
Fixed Asset Turnover	0.00	0.00	8.11	0.00	7.53	0.00	7.60	0.00	7.83	7.99	8.30
Accounts Payable Turnover	6.56	7.06	7.14	7.79	7.48	7.69	7.56	8.08	8.18	7.27	8.45
Days Sales Outstanding (DSO)	24.64	23.32	22.09	22.97	20.92	19.70	23.28	22.77	21.57	20.39	27.71
Days Inventory Outstanding (DIO)	39.56	35.25	37.04	35.64	35.62	32.36	31.67	30.93	30.37	28.64	27.01
Days Payable Outstanding (DPO)	55.67	51.68	51.15	46.83	48.80	47.48	48.28	45.18	44.61	50.19	43.20
Cash Conversion Cycle (CCC)	8.52	6.89	7.98	11.77	7.73	4.58	6.67	8.53	7.34	-1.15	11.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	31,753	30,560	31,070	30,725	30,546	30,304	30,865	30,898	30,915	28,238	29,632
Invested Capital Turnover	0.66	0.70	0.70	0.72	0.68	0.70	0.69	0.69	0.71	0.76	0.74
Increase / (Decrease) in Invested Capital	6,811	5,799	4,215	3,750	-1,207	-256	-205	173	369	-1,426	-1,233
Enterprise Value (EV)	45,038	51,537	52,874	54,726	56,563	51,252	50,856	57,792	67,023	66,328	77,259
Market Capitalization	31,901	38,908	39,579	41,957	44,128	39,566	39,122	46,172	55,640	56,954	66,492
Book Value per Share	$98.43	$99.00	$98.35	$99.33	$100.14	$102.88	$101.59	$103.12	$104.40	$104.97	$105.37
Tangible Book Value per Share	($59.06)	($51.46)	($51.34)	($50.65)	($49.07)	($44.55)	($45.96)	($44.69)	($42.28)	($36.80)	($35.60)
Total Capital	32,252	31,954	32,438	32,156	31,972	31,815	31,382	31,380	31,254	30,078	31,037
Total Debt	13,536	13,125	13,708	13,252	12,910	12,236	12,252	12,102	11,722	10,443	11,357
Total Long-Term Debt	11,140	11,160	11,140	10,533	11,093	11,081	10,977	10,976	10,997	10,443	9,191
Net Debt	13,037	12,565	13,231	12,705	12,371	11,621	11,735	11,620	11,383	9,374	10,767
Capital Expenditures (CapEx)	148	137	115	97	78	118	59	88	119	158	92
Debt-free, Cash-free Net Working Capital (DFCFNWC)	916	1,456	1,920	1,238	1,607	1,125	905	930	1,341	298	1,869
Debt-free Net Working Capital (DFNWC)	1,415	2,016	2,397	1,785	2,146	1,740	1,422	1,412	1,680	1,367	2,459
Net Working Capital (NWC)	-981	51	-171	-934	329	585	147	286	955	1,367	293
Net Nonoperating Expense (NNE)	75	129	86	81	61	77	56	41	44	8.64	55
Net Nonoperating Obligations (NNO)	13,037	11,731	12,340	11,821	11,484	10,725	11,735	11,620	11,383	8,603	9,952
Total Depreciation and Amortization (D&A)	310	350	320	536	324	326	301	303	309	311	282
Debt-free, Cash-free Net Working Capital to Revenue	4.91%	7.50%	9.52%	5.96%	7.60%	5.28%	4.26%	4.35%	6.17%	1.36%	8.32%
Debt-free Net Working Capital to Revenue	7.58%	10.38%	11.89%	8.60%	10.15%	8.16%	6.69%	6.61%	7.73%	6.25%	10.94%
Net Working Capital to Revenue	-5.26%	0.26%	-0.85%	-4.50%	1.56%	2.74%	0.69%	1.34%	4.39%	6.25%	1.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.02	$0.84	$1.49	$1.93	$2.11	$2.38	$2.05	$2.45	$2.47	$1.60	$2.74
Adjusted Weighted Average Basic Shares Outstanding	189.30M	190.11M	189.80M	189.70M	189.60M	188.31M	188.50M	187.09M	187.05M	186.78M	186.29M
Adjusted Diluted Earnings per Share	$2.02	$0.83	$1.48	$1.92	$2.10	$2.37	$2.04	$2.44	$2.46	$1.59	$2.72
Adjusted Weighted Average Diluted Shares Outstanding	190.10M	190.11M	190.80M	190.60M	190.50M	188.31M	189.10M	187.09M	187.05M	186.78M	186.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	189.54M	190.11M	189.68M	189.71M	189.67M	188.31M	186.95M	187.09M	187.05M	186.78M	186.29M
Normalized Net Operating Profit after Tax (NOPAT)	457	108	371	448	465	533	442	499	506	309	567
Normalized NOPAT Margin	9.31%	2.02%	7.13%	8.45%	8.79%	9.65%	8.60%	9.20%	8.94%	5.46%	9.87%
Pre Tax Income Margin	8.14%	1.42%	5.57%	7.36%	8.13%	8.82%	8.94%	9.66%	10.02%	6.76%	10.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.52	0.00	2.65	3.27	3.59	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	2.88	0.00	2.11	2.60	2.80	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	2.58	0.00	1.99	2.70	3.12	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	1.95	0.00	1.46	2.04	2.33	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	58.16%	72.45%	76.22%	75.60%	74.53%	58.60%	55.18%	52.46%	51.02%	56.23%	52.71%
Augmented Payout Ratio	105.24%	115.69%	107.26%	103.36%	117.85%	95.24%	110.35%	114.32%	110.05%	128.08%	103.58%

Financials Breakdown Chart

Key Financial Trends

Here are the key, investor-focused takeaways for L3Harris Technologies (NYSE:LHX) based on quarterly statements from the last four years, highlighting trends in revenue, profitability, cash flow, and balance sheet leverage.

Revenue has been on a clear uptrend, with Q4 2025 operating revenue at about $5.65B, up from roughly $5.34B in Q4 2023.
Operating cash flow from continuing operations rose to about $1.96B in Q4 2025, up from about $1.13B in Q4 2024, signaling stronger cash generation.
Free cash flow remains solid in Q4 2025, estimated around $1.80B after roughly $158M in capital expenditures, supporting dividends and debt repayment.
Dividend per share increased to $1.20, reflecting ongoing shareholder returns and a policy of cash-based distributions.
Debt repayment activity in Q4 2025 totaled about $726M, indicating a deleveraging effort and potential reduction in interest expense over time.
Gross margin has been broadly stable in the mid-20s (roughly 25–26%) across 2023–2025, implying modest profitability per dollar of revenue.
Capital expenditure remains modest and relatively steady around $100–160M per quarter, suggesting a capital-light cadence relative to revenue growth.
Shares outstanding have hovered around 186–188 million, helping explain quarterly EPS variability even as revenue trends higher.
Operating margins softened in Q4 2025 to roughly 7% (about $393M of operating income on $5.65B revenue), after stronger margins in earlier quarters (around 10–11%).
Net income per share declined in Q4 2025 to about $1.60 basic, versus roughly $2.38 in Q4 2024, reflecting weaker quarterly profitability despite higher revenue.

05/14/26 04:44 AM ETAI Generated. May Contain Errors.

L3Harris Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, L3Harris Technologies' fiscal year ends in January. Their fiscal year 2026 ended on January 2, 2026.

L3Harris Technologies' net income appears to be on an upward trend, with a most recent value of $1.61 billion in 2025, rising from $334 million in 2015. The previous period was $1.51 billion in 2024. Find out what analysts predict for L3Harris Technologies in the coming months.

L3Harris Technologies' total operating income in 2025 was $2.11 billion, based on the following breakdown:

Total Gross Profit: $5.63 billion
Total Operating Expenses: $3.52 billion

Over the last 10 years, L3Harris Technologies' total revenue changed from $3.89 billion in 2015 to $21.87 billion in 2025, a change of 462.8%.

L3Harris Technologies' total liabilities were at $21.56 billion at the end of 2025, a 3.8% decrease from 2024, and a 121.7% increase since 2015.

In the past 10 years, L3Harris Technologies' cash and equivalents has ranged from $288 million in 2018 to $1.28 billion in 2020, and is currently $1.07 billion as of their latest financial filing in 2025.

Over the last 10 years, L3Harris Technologies' book value per share changed from 32.56 in 2015 to 104.97 in 2025, a change of 222.3%.

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Financial statements for NYSE:LHX last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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L3Harris Technologies (LHX) Financials

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L3Harris Technologies (LHX) Financials

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Key Financial Trends

L3Harris Technologies Financials - Frequently Asked Questions

When does L3Harris Technologies' financial year end?

How has L3Harris Technologies' net income changed over the last 10 years?

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How has L3Harris Technologies' revenue changed over the last 10 years?

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How has L3Harris Technologies' book value per share changed over the last 10 years?

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