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L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide. It operates through three segments: Space & Mission Systems (SMS), Communications & Spectrum Dominance (CSD), and Missile Solutions (MSL). The SMS segment integrates satellite and payload capabilities, including missile warning and defense, with maritime, air special missions, and other global defense and civil government programs. Its MSL segment unites propulsion, hypersonic, and other advanced missile technologies. The CSD segment provides tactical radios, software, waveforms, satellite terminals, and end-to-end battlefield systems for the U.S. Department of Defense, international, federal, and state agency customers; broadband communications; integrated vision solutions, such as helmet-mounted integrated night vision goggles with image intensifier tubes and weapon-mounted sights, aiming lasers, and range finders; and public safety radios and system applications and equipment. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is headquartered in Melbourne, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $21.9B | $3.8B | $1.6B | $2.7B | 8.2% | 2.5% | 6.9% |
| 2024 | $21.3B | $3.6B | $1.5B | $2.2B | 7.7% | 9.8% | 22.4% |
| 2023 | $19.4B | $2.9B | $1.2B | $1.6B | 6.5% | 13.8% | 15.5% |
| 2022 | $17.1B | $2.5B | $1.1B | $1.9B | 5.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 17,062 | 19,419 | 21,325 | 21,865 |
| Operating Revenue | - | 17,062 | 19,419 | 21,325 | 21,865 |
| Cost Of Revenue | - | 12,135 | 14,306 | 15,801 | 16,240 |
| Gross Profit | - | 4,927 | 5,113 | 5,524 | 5,625 |
| Operating Expense | - | 2,998 | 3,313 | 3,509 | 3,475 |
| Research And Development | - | 603 | 480 | 515 | 536 |
| Selling General And Administration | - | 2,998 | 3,313 | 2,215 | 2,232 |
| Total Expenses | - | 15,133 | 17,619 | 19,310 | 19,715 |
| Operating Income | - | 1,929 | 1,800 | 2,015 | 2,150 |
| Total Operating Income As Reported | - | 1,127 | 1,426 | 1,918 | 2,110 |
| EBITDA | - | 2,490 | 2,930 | 3,561 | 3,753 |
| Normalized EBITDA | - | 3,292 | 3,304 | 3,658 | 3,793 |
| EBIT | - | 1,552 | 1,764 | 2,272 | 2,529 |
| Interest Expense | - | 279 | 543 | 675 | 597 |
| Net Interest Income | - | -279 | -543 | -675 | -597 |
| Other Non Operating Income Expenses | - | 425 | 338 | 354 | 419 |
| Other Income Expense | - | -377 | -36 | 257 | 379 |
| Interest Expense Non Operating | - | 279 | 543 | 675 | 597 |
| Net Non Operating Interest Income Expense | - | -279 | -543 | -675 | -597 |
| Pretax Income | - | 1,273 | 1,221 | 1,597 | 1,932 |
| Tax Provision | - | 212 | 23 | 85 | 326 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -133.93 | -7.11 | -5.16 | -6.75 |
| Net Income Continuous Operations | - | 1,061 | 1,198 | 1,512 | 1,606 |
| Net Income From Continuing And Discontinued Operation | - | 1,062 | 1,227 | 1,502 | 1,606 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,062 | 1,227 | 1,502 | 1,606 |
| Net Income | - | 1,062 | 1,227 | 1,502 | 1,606 |
| Net Income Common Stockholders | - | 1,062 | 1,227 | 1,502 | 1,606 |
| Net Income Including Noncontrolling Interests | - | 1,061 | 1,198 | 1,512 | 1,606 |
| Normalized Income | - | 1,730.07 | 1,593.89 | 1,593.84 | 1,639.25 |
| Diluted NI Availto Com Stockholders | - | 1,062 | 1,227 | 1,502 | 1,606 |
| Basic Average Shares | - | 191.80 | 189.60 | 189.80 | 187.40 |
| Diluted Average Shares | - | 193.50 | 190.60 | 190.70 | 188.40 |
| Reconciled Depreciation | - | 938 | 1,166 | 1,289 | 1,224 |
| Reconciled Cost Of Revenue | - | 12,135 | 14,306 | 15,291 | 15,723 |
| Total Unusual Items | - | -802 | -374 | -97 | -40 |
| Total Unusual Items Excluding Goodwill | - | -802 | -374 | -97 | -40 |
| Minority Interests | - | 1 | 29 | -10 | 0 |
| Net Income Discontinuous Operations | -1 | 0 | 0 | - | - |
| Special Income Charges | - | -802 | -374 | -97 | -40 |
| Gain On Sale Of Business | - | 0 | -51 | -19 | -82 |
| Write Off | 35 | 0 | - | - | - |
| Impairment Of Capital Assets | - | 802 | 374 | 38 | 85 |
| Restructuring And Mergern Acquisition | - | 162 | 174 | 102 | 57 |
| Gain On Sale Of Security | 5 | -18 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 532 | 687 | 779 | 707 |
| Depreciation And Amortization In Income Statement | - | 532 | 687 | 779 | 707 |
| General And Administrative Expense | - | 2,998 | 3,313 | 1,770 | 1,769 |
| Other Gand A | - | 2,998 | 3,313 | 1,770 | 1,769 |
| Gain On Sale Of Ppe | - | - | - | 62 | 184 |
| Selling And Marketing Expense | - | 483 | 450 | 445 | 463 |
| Amortization | - | 532 | 687 | 779 | 707 |
| Amortization Of Intangibles Income Statement | - | 532 | 687 | 779 | 707 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| L3Harris Technologies, Inc.this co. | LHX | $57.7B | 35.93 | 2.94 | 8.2% | 18.05 |
| Republic Services, Inc. | RSG | $64.0B | 29.90 | 5.34 | 17.9% | 15.25 |
| PACCAR Inc | PCAR | $62.1B | 26.15 | 3.23 | 12.3% | 18.86 |
| W.W. Grainger, Inc. | GWW | $60.9B | 35.68 | 16.29 | 45.7% | 22.84 |
| Carrier Global Corporation | CARR | $56.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 38.36 |
| 4.12 |
| 10.8% |
| 19.16 |
| Fastenal Company | FAST | $54.1B | 43.02 | 13.73 | 31.9% | 29.51 |
| AMETEK, Inc. | AME | $52.4B | 35.42 | 4.93 | 13.9% | 23.59 |
| Delta Air Lines, Inc. | DAL | $52.2B | 10.44 | 2.51 | 24.0% | 7.33 |
| Rockwell Automation, Inc. | ROK | $51.4B | 59.19 | 14.08 | 23.8% | 39.07 |
| Peer Median | - | 35.55 | 5.14 | 20.8% | 21.00 | |