Financials L3Harris Technologies, Inc.

Equities

LHX

US5024311095

Aerospace & Defense

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
214.5 USD +3.46% Intraday chart for L3Harris Technologies, Inc. +4.42% +1.86%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 44,591 39,142 41,672 39,349 39,921 40,694 - -
Enterprise Value (EV) 1 50,721 44,784 47,792 45,514 52,486 51,872 51,352 50,810
P/E ratio 25.5 x 35.9 x 23.4 x 37.6 x 32.7 x 24.3 x 19.7 x 17.2 x
Yield 1.49% 1.83% 1.92% - - 2.22% 2.36% 2.49%
Capitalization / Revenue 2.47 x 2.15 x 2.34 x 2.31 x 2.06 x 1.93 x 1.84 x 1.76 x
EV / Revenue 2.81 x 2.46 x 2.68 x 2.67 x 2.7 x 2.46 x 2.32 x 2.19 x
EV / EBITDA 14.2 x 10.4 x 11 x 13 x - 14 x 12.4 x 11.5 x
EV / FCF 20.6 x 16.7 x 17.4 x 22.4 x 26.1 x 23.3 x 20.3 x 17.6 x
FCF Yield 4.85% 6% 5.75% 4.46% 3.83% 4.3% 4.92% 5.67%
Price to Book 1.47 x 1.87 x 2.14 x - - 2.15 x 2.09 x 2.03 x
Nbr of stocks (in thousands) 221,065 210,112 196,225 190,403 189,540 189,680 - -
Reference price 2 201.7 186.3 212.4 206.7 210.6 214.5 214.5 214.5
Announcement Date 2/4/20 1/29/21 1/31/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 18,074 18,194 17,814 17,062 19,419 21,129 22,104 23,165
EBITDA 1 3,566 4,312 4,364 3,514 - 3,718 4,140 4,420
EBIT 1 2,995 3,280 3,397 2,628 2,874 3,265 3,560 3,787
Operating Margin 16.57% 18.03% 19.07% 15.4% 14.8% 15.45% 16.11% 16.35%
Earnings before Tax (EBT) 1 1,493 1,322 2,283 1,273 1,221 1,958 2,466 2,746
Net income 1 1,333 1,119 1,846 1,062 1,227 1,734 2,091 2,335
Net margin 7.38% 6.15% 10.36% 6.22% 6.32% 8.21% 9.46% 10.08%
EPS 2 7.900 5.190 9.090 5.490 6.440 8.837 10.89 12.49
Free Cash Flow 1 2,460 2,686 2,746 2,029 2,009 2,229 2,525 2,883
FCF margin 13.61% 14.76% 15.41% 11.89% 10.35% 10.55% 11.43% 12.45%
FCF Conversion (EBITDA) 68.98% 62.29% 62.92% 57.74% - 59.94% 61% 65.22%
FCF Conversion (Net income) 184.55% 240.04% 148.75% 191.05% 163.73% 128.5% 120.78% 123.46%
Dividend per Share 2 3.000 3.400 4.080 - - 4.774 5.060 5.344
Announcement Date 2/4/20 1/29/21 1/31/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 4,229 4,350 4,103 4,135 4,246 4,578 4,471 4,693 4,915 5,340 5,211 5,233 5,273 5,539 5,261
EBITDA 1 1,069 1,080 857 879 883 895 818 847 959 - 895.5 934.7 962 1,022 953.6
EBIT 1 830 836 625 688 801 670 638 694 735 807 788 808.3 826.2 885.2 856.3
Operating Margin 19.63% 19.22% 15.23% 16.64% 18.86% 14.64% 14.27% 14.79% 14.95% 15.11% 15.12% 15.45% 15.67% 15.98% 16.28%
Earnings before Tax (EBT) 1 586 588 536 525 -321 533 373 372 400 76 290 464.8 486.3 552.6 515.7
Net income 1 481 484 475 471 -300 416 337 349 383 158 283 405.2 432 478.2 432.3
Net margin 11.37% 11.13% 11.58% 11.39% -7.07% 9.09% 7.54% 7.44% 7.79% 2.96% 5.43% 7.74% 8.19% 8.63% 8.22%
EPS 2 2.390 2.460 2.440 2.420 -1.560 2.170 1.760 1.830 2.020 0.8300 1.480 2.117 2.276 2.529 2.275
Dividend per Share 2 1.020 1.020 1.120 1.120 1.120 - 1.140 1.140 1.140 - 1.176 1.176 1.176 1.176 1.209
Announcement Date 10/29/21 1/31/22 4/28/22 7/28/22 10/27/22 1/26/23 4/27/23 7/26/23 10/26/23 1/25/24 4/25/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,130 5,642 6,120 6,165 12,565 11,178 10,658 10,116
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.719 x 1.308 x 1.402 x 1.754 x - 3.006 x 2.574 x 2.289 x
Free Cash Flow 1 2,460 2,686 2,746 2,029 2,009 2,229 2,525 2,883
ROE (net income / shareholders' equity) 13.1% 11.5% 13.1% 13.2% 12.6% 12.9% 13.9% 14.8%
ROA (Net income/ Total Assets) 5.5% 2.97% 5.15% 3.11% 3.26% 3.55% 5.45% 6%
Assets 1 24,227 37,648 35,845 34,116 37,606 48,799 38,364 38,896
Book Value Per Share 2 137.0 99.50 99.30 - - 100.0 103.0 106.0
Cash Flow per Share 2 9.790 12.90 13.20 11.20 11.00 12.50 15.50 17.80
Capex 1 267 368 342 238 393 415 428 439
Capex / Sales 1.48% 2.02% 1.92% 1.39% 2.02% 1.96% 1.93% 1.89%
Announcement Date 2/4/20 1/29/21 1/31/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
214.5 USD
Average target price
244.6 USD
Spread / Average Target
+14.00%
Consensus
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