L3Harris Technologies Inc. (LHX)

NYSE: LHX · USD

$260

+0.54 (+0.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-02

Our latest published analysis: LHX rated Hold

L3Harris Technologies Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$229 / share

Potential value

$286 / share

Upside to FV

-3.4%

from $260

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$44.1B
Revenue (ttm)	22.9B
Net income (ttm)	1.9B
EPS (ttm)	$9.90
Shares out	186.2M
P/E (trailing)	26.3x
P/E (forward)	17.9x
Dividend	$5.00 (1.93%)
Volume	1,133,885
Beta	0.51

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 22.9B
Net income (ttm): 1.9B
EPS (ttm): $9.90
P/E (trailing): 26.3x
P/E (forward): 17.9x
Market cap: $44.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-30	2023-12-29	2025-01-03	2026-01-02	Trend
Revenue	$17.81B	$17.06B	$19.42B	$21.33B	$21.87B	+5.3%
Gross profit	$5.38B	$4.93B	$5.11B	$5.52B	$5.63B	+1.1%
Operating income	$2.11B	$1.13B	$1.43B	$1.92B	$2.11B	+0.0%
Net income	$1.85B	$1.06B	$1.23B	$1.50B	$1.61B	-3.4%
EPS (diluted)	$9.09	$5.49	$6.44	$7.87	$8.53	-1.6%
EBITDA	$3.52B	$2.49B	$2.93B	$3.56B	$3.75B	+1.7%
R&D	$692.0M	$603.0M	$480.0M	$515.0M	$536.0M	-6.2%
SG&A	$3.28B	$3.00B	$3.31B	$3.57B	$3.43B	+1.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	보유
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	보유

Base and Bull scenarios

Base60%

Price target

$228.61

-3.4% from spot

Our modal forecast path projects steady execution across the core defense franchise, with revenue expanding from FY2025 across FY2026 and FY2027 supported by defense backlog conversion. Operating margins normalize upward from FY2025 levels through FY2030 as digitization and integration efficiencies materialize. Disciplined cash conversion supports ongoing deleveraging on total debt obligations and regular shareholder distributions, anchoring our Fair value conclusion at $228.61.

Revenue growth follows the house schedule across FY2026 and FY2027 before tapering toward terminal rates by FY2030.
Operating margins expand steadily from FY2026 through FY2030 driven by operational transformation.
Reinvestment rate moderates gradually as capital expenditure requirements normalize.
Cost of capital remains stable based on computed discount rates.

Bull20%

Price target

$285.56

+20.7% from spot

Accelerating defense procurement under Department of Defense wartime footing mandates converts active contract negotiations into expanding backlog, while the automated solid rocket motor facility and high-margin missile framework agreements drive earnings and operational cash flow toward Potential value of $285.56. Revenue growth and operating margins exceed our house forecast, enabling rapid balance sheet deleveraging and accelerated capital returns.

FY2026-FY2030 revenue growth accelerates significantly above house baseline expectations.
Operating margins expand meaningfully driven by automated solid rocket motor production capacity.
Net leverage declines ahead of schedule, unlocking expanded share repurchases.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($228.61). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	1.8%	2.0%	2.3%	2.5%
6.9%	$250	$257	$266	$276	$286
7.4%	$232	$239	$246	$253	$262
7.9%	$217	$223	$229	$235	$241
8.4%	$205	$209	$214	$219	$225
8.9%	$194	$198	$202	$206	$211

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E17.9

P25 n/aP50 n/aP75 n/a

Trailing P/E23.9

P25 n/aP50 n/aP75 n/a

ROE9.3

P25 n/aP50 n/aP75 n/a

ROIC8.1

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LHX indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000202058
Company name	L3Harris Technologies, Inc.
Country	United States
Country code	US
CUSIP number	502431109
Earnings date	2026-10-29
Earnings time	bmo
Employees	45,000
Employees change	-2,000
Employees growth	-4.26%
Enterprise value	$57.9B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-07-03
First seen	2026-05-09
Fiscal year end	January
Founded	1895
In index	SP500
Industry	Aerospace & Defense
Is primary listing	Yes
Is SPAC	No
ISIN number	US5024311095
Last 10-K release date	2026-02-12
Last earnings date	2026-07-29
Last refreshed	2026-10-28
Last stock split date	2005-03-31
Last stock split type	Forward
Market cap	$48.4B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$259.95
Price currency	USD
Sector	Industrials
SIC code	3812
Stock price date	2026-10-28
Symbol	LHX
Tags	drones
U.S. state	Florida
Website	https://www.l3harris.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	22.78x
Average P/E ratio (10Y)	29.47x
Average P/E ratio (3Y)	31.31x
Average P/E ratio (5Y)	31.84x
Earnings yield	3.81%
EV/Earnings	31.05x
EV/EBIT	19.56x
EV/EBITDA	13.94x
EV/FCF	20.57x
EV/Sales	2.52x
FCF / EV yield	4.86%
FCF yield	5.82%
Forward EV/Sales	2.38x
Forward P/E	20.96x
Forward P/S	1.99x
Graham number	154.21711
Graham upside	-40.51%
Industry forward P/E	38.65x
Industry P/E	78.67x
Lynch fair value	$49.48
Lynch upside	-80.91%
P/(FCF - SBC) ratio	19.54x
P/(OCF - SBC) ratio	16.34x
P/B ratio	2.43x
P/E ratio	26.27x
P/FCF ratio	17.19x
P/OCF ratio	14.66x
P/S ratio	2.11x
PEG ratio	1.26x
Price/EBITDA ratio	11.65x
Sector forward P/E	26.24x
Sector P/E	40.28x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	12.87%
EBITDA margin	18.06%
Effective tax rate	16.64%
FCF margin	12.24%
Gross margin	25.48%
Operating margin	12.87%
Pretax margin	9.8%
Profit margin	8.17%
Profit per employee	$41,333
Profitable quarters	15
Profitable years	34
Revenue per employee	$509,600
ROA	4.38%
ROA (5Y)	3.95%
ROCE	8.58%
ROE	9.34%
ROE (5Y)	7.45%
ROIC	8.1%
ROIC (5Y)	7.3%
SBC / revenue	1.47%
Tax / revenue	1.63%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	10.57%
EPS growth (Q)	28.28%
EPS growth (QoQ)	15.07%
EPS growth 10Y	14.42%
EPS growth 3Y	33.13%
EPS growth 5Y	6.75%
EPS growth quarters	2
EPS growth years	3
FCF growth	29.76%
FCF growth (Q)	39.67%
FCF growth 3Y	15.24%
FCF growth 5Y	2.78%
Gross profit growth	6.24%
Gross profit growth (Q)	12.51%
Gross profit growth 3Y	6.71%
Gross profit growth 5Y	1.29%
Net income growth	10.43%
Net income growth (Q)	31%
Net income growth (QoQ)	14.45%
Net income growth 3Y	32.37%
Net income growth 5Y	4.4%
Net income growth quarters	2
Net income growth years	3
OCF growth	31.31%
OCF growth (Q)	37.34%
OCF growth 10Y	13.55%
OCF growth 3Y	15.55%
OCF growth 5Y	3.03%
Operating income growth	6.69%
Operating income growth (Q)	6.18%
Operating income growth 3Y	7.44%
Operating income growth 5Y	2.38%
Revenue growth	7.29%
Revenue growth (Q)	8.39%
Revenue growth (QoQ)	2.39%
Revenue growth 10Y	14.36%
Revenue growth 3Y	8.43%
Revenue growth 5Y	4.55%
Revenue growth quarters	5
Revenue growth years	3

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-484M
Depreciation and amortization	$1.2B
EBIT	$3B
EBITDA	$4.1B
EPS	$9.90
FCF per share	$15.08
Financing cash flow	$-1.8B
Free cash flow	$2.8B
Free cash flow minus SBC	$2.5B
Gross profit	$5.8B
Income taxes	$374M
Investing cash flow	$-470M
Net borrowing	$-1.1B
Net cash flow	$1B
Net income	$1.9B
Operating cash flow minus SBC	$3B
Operating income	$3B
Revenue	$22.9B
Stock-based compensation	$338M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.51
Book value per share	$106.80
Debt / EBITDA	2.55
Debt / equity	0.53
Debt / FCF	3.92
Goodwill	$20B
Interest coverage	5.27
Long-term assets	$32.9B
Long-term liabilities	$13.6B
Net cash (debt)	$-9.5B
Net cash / market cap	-19.63%
Net debt / EBITDA	2.29
Net debt / equity	0.45
Net debt / FCF	3.38
Piotroski F-Score	7
Property, plant and equipment	$2.7B
Shareholders' equity	$20.9B
Tangible book value	$-6.7B
Tangible book value per share	$-35.74
Total assets	$42.9B
Total cash	$1.5B
Total debt	$11B
Total liabilities	$22.1B
WACC	6.51%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.54
Current assets	$10.1B
Current liabilities	$8.5B
Current ratio	1.18
Inventory turnover	13.51
Net working capital	$1.9B
Quick ratio	0.84
Working capital	$1.6B
Working capital turnover	24.76

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.82%
Dividend growth	4.17%
Dividend growth (10Y)	9.27%
Dividend growth (3Y)	3.12%
Dividend growth (5Y)	4.15%
Dividend growth years	24
Dividend payment date	2026-12-18
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$5.00
Dividend yield	1.93%
Ex-dividend date	2026-12-04
FCF payout ratio	33.16%
Last dividend	$1.25
Payout ratio	50.52%
Shareholder yield	2.75%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	191.38%
10Y return CAGR	13.39%
10Y total return	251.28%
150-day SMA	$289.23
15Y price change	573.78%
15Y return CAGR	16.03%
15Y total return	830.2%
1D price change	0.21%
1M price change	9.08%
1M total return	9.08%
1W price change	4.22%
1W total return	4.22%
1Y price change	-10.95%
1Y return CAGR	-9.48%
1Y total return	-9.47%
20-day SMA	$244.20
200-day SMA	$305.41
20Y price change	502.95%
20Y return CAGR	11.99%
20Y total return	863.65%
3M price change	-14.57%
3M total return	-14.16%
3Y price change	51.68%
3Y return CAGR	17.12%
3Y total return	60.68%
50-day SMA	$249.61
50-day SMA vs 200-day SMA	50under200
52-week high	$379.23
52-week high date	2026-03-02
52-week low	$232.34
52-week low date	2026-10-08
5Y price change	13.47%
5Y return CAGR	4.63%
5Y total return	25.37%
6M price change	-19.09%
6M total return	-18.38%
All-time high	$379.23
All-time high date	2026-03-02
All-time low	$0.81
All-time low date	1974-10-23
Average true range (ATR)	$5.13
Average volume	1.6M
Beta (1Y)	0.32
Beta (2Y)	0.43
Beta (5Y)	0.51
Change from 52-week high	-31.45%
Change from 52-week low	11.88%
Change from all-time high	-31.63%
Change from all-time low	31,810.15%
Change from open	0.76%
Day's gap	-0.54%
Dollar volume	$294.8M
High price	$260.40
Low price	$257.84
Monthly RSI	47.52
Open price	$257.99
Position in 52-week range	82.42%
Premarket change	-0.21%
Premarket close	$259.40
Premarket price	$258.85
Premarket volume	1.1K
Previous close	$259.40
Price vs 150-day SMA	-10.36%
Price vs 20-day SMA	6.17%
Price vs 200-day SMA	-15.11%
Price vs 50-day SMA	3.87%
Relative volume	0.72
RSI	65.18
Sharpe ratio	-0.35
Sharpe ratio (3Y)	0.58
Sharpe ratio (5Y)	0.09
Sortino ratio	-0.29
Sortino ratio (3Y)	1.09
Sortino ratio (5Y)	0.37
Volume	1.1M
Weekly RSI	42.52
YTD price change	-11.68%
YTD total return	-10.59%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	185.2M
Float percentage	99.47%
Shares change (QoQ)	-0.43%
Shares change (YoY)	-0.82%
Shares held by insiders	0.31%
Shares held by institutions	89.29%
Shares outstanding	186.2M
Short % of float	2.44%
Short % of shares	2.43%
Short ratio	2.7 days

Deeper analysis on LHX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LHX report

What is the latest published LHX stock rating?

L3Harris Technologies Inc. is shown with Hold in the latest published report, analyzed 2026-10-02. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LHX analysis?

The full latest published report, analyzed 2026-10-02, lives at /stocks/LHX/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LHX?

The latest published report analyzed 2026-10-02 gives LHX a fair value of USD 229 and a potential value of USD 286. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LHX page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-02). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldLHX · Fair value $229-3.4%

Read full analysis →

L3Harris Technologies Inc. (LHX)

Our latest published analysis: LHX rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · LHX

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LHX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on LHX

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	4.5
Management	9.5
Balance Sheet	6.0
Profitability	5.0
Revenue Growth	6.0
Risk Assessment	7.5
Competitive Moat	7.5
Earnings Quality	9.0
Capital Efficiency	3.5