LHXNYSESearch, Detection, Navigation, Guidance, Aeronautical SysFiscal year ends January 2
L3HARRIS TECHNOLOGIES, INC. /DE/
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Jul 30, 2026
$243.84−4.67 (-1.88%)
Close on Oct 19, 2026
- Market cap
- $45.67B
- P/E (TTM)
- 24.6
- Dividend yield
- 1.97%
Margins
Share of revenue, fiscal years 2010 to 2025
Gross margin
–
Operating margin
–
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Operating income | +10.0% | +23.2% | – | – | |
| Net income | +6.9% | +14.8% | – | +17.0% | |
| EPS, diluted | +8.4% | +15.8% | – | +10.6% | |
| Free cash flow | +24.7% | +12.1% | – | +14.3% | |
| Dividend per share | +3.4% | +2.3% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.8% | 28.6% | 8.2% | |
| Return on assets | 3.7% | 9.5% | 3.9% | |
| Current ratio | 1.40 | 1.14 | 1.19 | |
| Debt to equity | 1.54 | 1.05 | 0.57 | |
| Net debt to EBITDA | – | 1.76× | 3.01× | |
| Interest coverage | – | 8.6× | – | |
| Inventory turnover | 2.9× | 11.6× | – | |
| Capex to revenue | 3.8% | 2.4% | – | |
| Diluted shares | 107M | 121M | 188M |
Where the cash went
Fiscal 2021 to 2025, five years combined
L3harris Technologies generated $12.61B from operations and spent $13.20B on capital expenditure, dividends and share buybacks. 14% of that went back into the business.
Generated
$12.61B
Used
$13.20B
Capital expenditure$1.88B14%Dividends$4.34B33%Share buybacks$6.98B53%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.0%
×Asset turnover0.51×
×Equity multiplier2.19×
=Return on equity, FY20247.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 7.0% | 0.51× | 2.19× | 7.8% |
| FY2023 | 6.3% | 0.52× | 2.02× | 6.6% |
| FY2022 | 6.2% | 0.50× | 1.81× | 5.6% |
| FY2019 | 14.0% | 0.68× | 3.01× | 28.6% |
| FY2018 | 11.3% | 0.62× | 3.23× | 22.6% |
| FY2017 | 9.2% | 0.53× | 3.71× | 18.2% |
| FY2016 | 5.4% | 0.48× | 3.90× | 10.0% |
| FY2015 | 8.6% | 0.43× | 3.46× | 12.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.61B
- Cash generatingOperating cash flow above zero$3.11B
- Return on assets improvedROA up on the prior year3.6% → 3.8%
- Earnings backed by cashOperating cash flow above net income$3.11B vs $1.61B
- Less leverageLong-term debt to assets fell26.4% → 25.4%
- Better liquidityCurrent ratio rose1.08 → 1.19
- No dilutionShare count did not rise191M → 188M
- Gross margin improvedGross margin up on the prior year25.90% → –
- More efficientAsset turnover rose0.51 → –