L3Harris (LHX)

Industrials · $51.3B market cap · SEC CIK 0000202058

Next reports on Jan 27, 2027, after the close, with analysts expecting $3.22 in earnings per share.

52-week range $232.34 to $379.23. 27% below its 52-week high and 19% above its low.

The case for LHX

• Moves less than the market (beta 0.47).
• Pays a modest 2.4% dividend.

The case against

• Return on equity of 10% is lower than 90% of Industrials companies.
• The price trend is weak (34/100): −6.6% over a year, −6.3% over three months, 27% below its 52-week high.
• Long-term debt of $10.4B against $1.1B of cash.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.

The financials

The financials, five years deep

Pulled from L3Harris's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What L3Harris says it does

L3Harris Technologies, Inc. is the Trusted Disruptor in the defense industry. With customers’ mission-critical needs in mind, we deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. We support customers in more than 100 countries, with our largest customers being various departments and agencies of the U.S. Government, their prime contractors and international allies. Our capabilities have defense and civil government applications, as well as commercial applications. Our fiscal year ends on the Friday nearest December 31. The fiscal year ended January 2, 2026 (“fiscal 2025”) included 52 weeks, fiscal year ended January 3, 2025 (“fiscal 2024”) included 53 weeks, and the fiscal year ended December 29, 2023 (“fiscal 2023”) included 52 weeks. Unless the context otherwise requires, the terms “we,” “our,” “us,” “Company” and “L3Harris” as used in this Annual…

Risk factors LHX lists in its 10-K

• We depend on winning profitable business in competitive markets from U.S. Government customers for a significant portion of our revenue
• A reduction in U.S. Government funding or a change in U.S. Government spending priorities could have an adverse impact on our business, financial condition, results of operations, cash flows and equity
• Our results of operations and cash flows are substantially affected by our contract mix. Fixed-price contracts, particularly for development programs, could subject us to losses from cost overruns or inflation
• We participate in markets that are often subject to uncertain economic conditions, which makes it difficult to estimate growth in our markets and, as a result, future income and expenditures
• We cannot predict the consequences of future geo-political events, but they may adversely affect the markets in which we operate, our ability to insure against risks, our operations or our profitability
• We are subject to government investigations, which could have a material adverse effect on our business, financial condition, results of operations, cash flows and equity
• We derive a significant portion of our revenue from international operations and are subject to the risks of doing business internationally
• We depend on our subcontractors and suppliers, and failures in or disruptions to our supply chain could cause our products and or services to be produced or delivered in an untimely or unsatisfactory manner
• Changes in trade policies, including tariffs, could cause adverse impacts to our business
• We must attract and retain key employees, and any failure to do so could harm us
• We could be negatively impacted by a security breach of our Information Technology (“IT”) networks and related systems
• Our future success will depend on our ability to develop new products and services that achieve market acceptance in our current and future markets
• We have significant operations in locations that could be materially and adversely impacted in the event of a natural disaster or other significant disruption
• Risk of the release, unplanned ignition, explosion, or improper handling of dangerous materials used in our business could disrupt our operations and adversely affect our financial results
• The failure to effectively maintain and modernize our IT systems and infrastructure could adversely affect our business
• Changes in estimates we use in accounting for many of our programs could adversely affect our future financial condition and results of operations
• Our level of indebtedness and our ability to make payments on or service our indebtedness may materially adversely affect our financial and operating activities or our ability to incur additional debt
• Changes in our effective tax rate or additional tax exposures may have an adverse effect on our results of operations and cash flows
• We may not be successful in obtaining the necessary export licenses and Congress may prevent proposed sales to certain foreign governments
• Environmental issues could have a material adverse effect on our business, financial condition, results of operations, cash flows and equity
• Our reputation and ability to do business may be impacted by the improper conduct of our employees, agents or business partners
• We may become subject to intellectual property infringement claims, and third parties may infringe upon our intellectual property rights
• We face certain significant risk exposures and potential liabilities that may not be covered adequately by insurance or indemnity
• Note 1: Significant Accounting Policies
• Note 6: Goodwill and Intangible Assets

Filings

Other Industrials companies