# L3Harris Technologies, Inc. (LHX) — Stock CV

L3Harris Technologies, Inc. is a $44.1B technology company. Revenue grew 7.3% over the last year, it keeps 8¢ of every dollar of sales as profit, and its net debt equals ~3.3 years of free cash flow. It trades at 23.5× earnings — near the lowest of its own history.

> In addition to its legacy software-defined radio franchise, L3Harris Technologies has, through a series of acquisitions, established franchises producing uncrewed aerial vehicles, sensors, avionics, space-based systems, missiles, and solid rocket motors.

## Identity

- **Ticker**: LHX
- **Sector**: Technology
- **Industry**: Search, Detection, Navigation, Guidance, Aeronautical Sys
- **Headquarters**: MELBOURNE, FL
- **Employees**: 45 000
- **Website**: https://www.l3harris.com
- **Market cap**: $44.1B
- **Last price**: $236.87
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $22.9B
- **Net income**: $1.87B
- **Free cash flow**: $2.81B
- **Net debt**: $9.37B
- **P/E**: 23.5
- **Revenue growth (YoY)**: 7.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 44 |
| Profitability | 42 |
| Health | 44 |
| Quality | 87 |
| Moat | 49 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +7.3% YoY
- [x] Profitable — $1.87B TTM
- [x] Profit growing — +15.9% YoY
- [x] Generates cash — $2.81B TTM
- [x] Debt under control — ~3.3y of cash flow to repay
- [x] Established company — $44.1B market cap
- [x] Not printing shares — -6.9% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 1.8 — distress
- [x] Pays a dividend — yield 2.08%
- [x] Valuation not extreme — P/E 23.5

## Experience (career milestones)

- **2026** — The remaining Missile Solutions segment will be spun off as a new company in the second half of 2026 via an IPO
- **2025** — Israel entered into a memorandum of understanding with L3Harris to facilitate the acquisition of…
- **2025** — The sale was completed in March 2025, and the business was renamed Acron Aviation
- **2023** — The acquisition was completed on 28 July 2023
- **2022** — L3Harris reorganized its business structure, eliminating the Aviation Systems business segment and…
- **FY2021** — Best year on record: $1.85B net income
- **FY2020** — Revenue crossed $10B: $18.2B for the year
- **Jun 29, 2019** — The company was formed from the merger of L3 Technologies and Harris Corporation on June 29, 2019
- **2018** — L3Harris acquired two Australian zero-day exploit development companies, Azimuth Security and Linchpin Labs
- **2016** — At the end of 2016, the company changed its name from L-3 Communications Holdings, Inc
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $7.47B in first reported year
- **1997** — L-3 Communications was formed in 1997 to acquire certain business units from Lockheed Martin that had previously…
- **1967** — They merged with Radiation, Inc. of Melbourne, Florida, a developer of antenna, integrated circuit

## Strengths

- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Altman Z-Score 1.79 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $17.8B | $1.85B | $2.35B |
| FY2022 | $17.1B | $1.06B | $1.91B |
| FY2023 | $19.4B | $1.23B | $1.65B |
| FY2024 | $21.3B | $1.50B | $2.15B |
| FY2025 | $21.9B | $1.61B | $2.68B |

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Source: https://stockcv.com/LHX — derived from company filings; may be delayed or incomplete. Information, not investment advice.