L3Harris (LHX) stock
Industrials · Aerospace & Defense
L3Harris (LHX) is an Aerospace & Defense company in the Industrials sector, headquartered in Melbourne, Florida. As of October 23, 2026, LHX closed at $253.97, a market capitalization of $47.29 billion, the 242nd largest company in the S&P 500. Over the last twelve months it generated $22.93 billion in revenue (+8% year over year) and $2.81 billion in free cash flow. The stock trades at 25.6x trailing earnings and 18.8x forward earnings.
- 1-year total return: -12.0% (dividends reinvested)
- 5-year return: +2.8% a year
- 52-week range: $232.34 – $379.23
- Gross margin 25.5%, operating margin 12.6%
- Dividend yield: 1.97%, 24 straight years of increases
- FI Handbook report card: C across 10 metrics
- 42nd largest of 83 Industrials stocks in the S&P 500
LHX price chart
1Y price change: -13.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| LHX | +6.2% | -12.4% | -12.0% | +15.0% | +2.8% | +13.0% | +10.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1981.
LHX key statistics
- Market cap
- $47.3B
- #242 in S&P 500
- P/E (TTM)
- 25.6x
- Forward P/E
- 18.8x
- EPS (TTM)
- $9.92
- Revenue (TTM)
- $22.9B
- +8%
- Free cash flow
- $2.8B
- Gross margin
- 25.5%
- Operating margin
- 12.6%
- Return on equity
- 9.3%
- Dividend yield
- 1.97%
- 52-week range
- $232.34 – $379.23
- Beta
- 0.51
- Price / sales
- 2.1x
- EV / EBITDA
- 14.2x
- Debt / equity
- 0.53x
- Employees
- 45,000
LHX report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth8.4%C
- Gross margin25.5%C
- Operating margin12.6%C
- FCF margin12.2%C
- Return on equity9.3%D
- Net debt / EBITDA2.3xD
- Forward P/E18.8xB
- PEG ratio1.3xB
- Shareholder yield3.1%B
- Share count change / yr9.6%F
L3Harris Technologies financials
Revenue went from $3.9B in fiscal 2015 to $21.3B in fiscal 2025, growing 18.6% a year.
| Fiscal year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $6.0B | $5.9B | $6.2B | $6.8B | $12.9B | $17.8B | $17.1B | $19.4B | $21.3B |
| Gross profit | $1.5B | $2.2B | $2.0B | $2.1B | $2.3B | $3.8B | $5.4B | $4.9B | $5.1B | $5.5B |
| Operating income | — | $1.1B | $1.1B | $1.1B | $1.4B | — | $2.1B | $1.1B | $1.4B | $1.9B |
| Net income | $334.0M | $324.0M | $553.0M | $699.0M | $949.0M | $1.3B | $1.8B | $1.1B | $1.2B | $1.5B |
| EPS (diluted) | $3.11 | $2.59 | $4.36 | $5.76 | $7.86 | $7.89 | $9.09 | $5.49 | $6.44 | $7.87 |
| Free cash flow | $706.0M | $772.0M | $450.0M | $615.0M | $1.0B | — | $2.3B | $1.9B | $1.6B | $2.2B |
| Buybacks | $150.0M | $0 | $710.0M | $272.0M | $200.0M | — | $3.7B | $1.1B | $518.0M | $554.0M |
| Dividends paid | $198.0M | $252.0M | $262.0M | $272.0M | $325.0M | — | $817.0M | $864.0M | $868.0M | $886.0M |
| Diluted shares | 106.8M | 125.0M | 124.3M | 121.1M | 120.5M | 169.0M | 203.2M | 193.5M | 190.6M | 190.7M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into LHX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $56.8B and $2.8B of trailing free cash flow, L3Harris Technologies needs to grow free cash flow about 10.8% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 28.5% a year over the last five years.
P/E ratio history
Current 32.3x vs. median 28.7x (10th–90th percentile 10.5x–137.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
LHX dividend
- Dividend yield
- 1.97%
- Annual dividend
- $5.00
- Years of increases
- 24
- 5-yr dividend growth
- 7.1%
- per year
- Payout ratio
- 49%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
LHX analyst price targets
17 analysts' average 12-month target is $316.65 (+25% vs. $253.97). Targets range from $241.00 to $393.00. 60% rate it a buy.
LHX earnings
Next report: October 29, 2026. L3Harris Technologies has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $5.9B (+8% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $2.84 | $3.63 | +27.9% |
| Apr 30, 2026 | $2.57 | $2.91 | +13.0% |
| Jan 29, 2026 | $2.76 | $2.86 | +3.6% |
| Oct 30, 2025 | $2.57 | $2.70 | +5.1% |
| Jul 24, 2025 | $2.50 | $2.78 | +11.3% |
| Apr 24, 2025 | $2.32 | $2.41 | +4.0% |
| Jan 30, 2025 | $3.42 | $3.47 | +1.5% |
| Oct 24, 2024 | $3.26 | $3.34 | +2.3% |
Stocks like LHX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
 RTX RTX | -1.90% | +8% | $257.8B | 31.1x | Compare |
 BA Boeing | +0.43% | -14% | $148.9B | 67.3x | Compare |
 LMT Lockheed Martin | +2.42% | +27% | $139.6B | 21.5x | Compare |
 GD General Dynamics | -0.41% | +4% | $94.5B | 21.3x | Compare |
 NOC Northrop Grumman | -0.16% | -7% | $78.3B | 17.4x | Compare |
 HWM Howmet Aerospace | -3.82% | -7% | $74.1B | 40.1x | Compare |
 TDG Transdigm | -3.23% | -18% | $61.1B | 33.5x | Compare |
LHX news
- Stocktwits Defense Watch: Lockheed Martin, RTX, L3Harris, HII Add To Their Defense Contract Backlogs Amid Pentagon Spending Ramp-Up · Oct 24, 2026
- Did New Missile Plant Just Shift L3Harris Technologies (LHX) Investment Narrative? · Oct 22, 2026
- L3Harris (LHX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release · Oct 22, 2026
- Why Did L3Harris Technologies (LHX) Land A $876 Million Navy Jammer Contract? · Oct 22, 2026
- L3Harris Appoints ATI Chair, President and Chief Executive Officer Kimberly Fields to Board of Directors · Oct 22, 2026
LHX stock FAQ
What is LHX's market cap?
L3Harris's market capitalization is $47.29 billion as of October 23, 2026, ranking 242nd in the S&P 500.
What is LHX's P/E ratio?
LHX trades at a trailing price-to-earnings ratio of 25.6x and a forward P/E of 18.8x. Its median P/E over the period we track is 28.7x.
Does LHX pay a dividend?
Yes. L3Harris pays $5.00 per share a year, a 1.97% yield. It has raised its dividend 24 years in a row. Dividends grew 7.1% a year over the last five years.
How much has LHX stock returned?
Including reinvested dividends, LHX returned -12.0% over one year, +2.8% a year over five years, +13.0% a year over ten years through October 23, 2026.
Is LHX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies L3Harris must grow free cash flow about 11% a year for the next decade. Its free cash flow grew 28% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the LHX price target?
17 analysts cover LHX with an average 12-month price target of $316.65, +25% from the current price. 60% of them rate it a buy.
When does LHX report earnings?
L3Harris is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does L3Harris have?
L3Harris has about 45,000 full-time employees, or $509,600 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology