L3Harris (LHX): analysis in plain words
Is L3Harris cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
L3Harris (LHX) is listed on the NYSE and we classify it in aerospace and defence. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against L3Harris according to those figures, and the questions people ask most about the stock. No buy or sell tips.
L3Harris (LHX) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $259.74 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 24.2x | Price over earnings per share |
| Revenue growth | +7.1% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 8.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.9x | Years of operating profit to repay debt |
| Dividend yield | 1.80% | Annual dividend over price |
| Market cap | $48.4 billion | What the stock market values it at |
The L3Harris figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any LHX figure that is not available shows as N/A: we do not estimate it.
How L3Harris makes money
L3Harris Technologies makes defense electronics and equipment: tactical radios, sensors, electronic warfare systems, satellites and, through Aerojet Rocketdyne, rocket and missile propulsion. Its businesses span space and airborne systems, communications and missile solutions. The U.S. government is its main customer, followed by allied countries.
Over the last 12 months, L3Harris brought in revenue of $23.3 billion. For every 100 it sells, L3Harris keeps 25.6 after the direct cost of what it sells (gross margin) and 14.3 after all operating costs (operating margin). With 45,000 full-time employees, that is about $519,000 of revenue per employee.
L3Harris against its sector
To know whether a L3Harris figure is high or low you have to put it next to similar companies. This table compares L3Harris with the median of the 12 aerospace and defence companies Fintols covers, with data as of November 4, 2026.
| Figure | L3Harris | aerospace and defence median |
|---|---|---|
| P/E | 24.2x | 24.9x (12) |
| Revenue growth | +7.1% | +14.4% (14) |
| Net margin | 8.8% | 8.2% (14) |
| Dividend yield | 1.80% | 1.17% (14) |
| Net debt / EBITDA | 1.9x | 1.3x (12) |
In short, against the typical aerospace and defence company, L3Harris grows more slowly, pays a higher dividend yield and carries more debt. By size, L3Harris ranks number 8 of 10 aerospace and defence companies quoted in USD on Fintols.
The bull case for L3Harris
What works in favour of L3Harris, according to its figures as of November 4, 2026:
- L3Harris generates real cash: $3.4 billion of free cash flow over 12 months, 7.1% of its stock market value.
- Analysts expect L3Harris earnings to rise: its P/E on the next 12 months of estimated earnings is 19.2x, below the current 24.2x.
The main risk for L3Harris
L3Harris stock sits 32% below its 52-week high ($379.23): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of aerospace and defence, L3Harris is exposed to production delays and problems, and changes in defence budgets.
Frequently asked questions about L3Harris
Is it a good time to buy L3Harris stock?
Fintols does not tell you whether to buy or sell L3Harris, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, L3Harris stock trades at $259.74, 32% below its 52-week high ($379.23) and 12% above its low ($232.34). Its P/E is 24.2x against a aerospace and defence median of 24.9x, and 19.2x on the earnings analysts expect over the next 12 months. With L3Harris, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does L3Harris pay a dividend?
Yes. As of November 4, 2026, L3Harris pays $5.00 per share a year, which at today's price is a yield of 1.80%. It uses 46% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.92%. The aerospace and defence median on Fintols is 1.17%.
Is L3Harris stock expensive?
It depends on what you compare it with. On P/E, L3Harris trades at 24.2x its last 12 months of earnings: in line with the aerospace and defence median (24.9x). Including its debt, L3Harris is valued at 14.5x its EBITDA (EV/EBITDA). A high P/E alone does not make L3Harris expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are L3Harris's competitors?
On Fintols we compare L3Harris with Northrop Grumman, TransDigm and RTX, which are also in aerospace and defence. As of November 4, 2026, Northrop Grumman is worth $74.6 billion and trades on a P/E of 16.6; TransDigm is worth $67.3 billion and trades on a P/E of 36.9; RTX is worth $267.8 billion and trades on a P/E of 32.3. Each has a side-by-side comparison with L3Harris below.
L3Harris competitors
- Northrop Grumman (NOC) analysis · L3Harris vs Northrop Grumman comparison
- TransDigm (TDG) analysis · L3Harris vs TransDigm comparison
- RTX (RTX) analysis · L3Harris vs RTX comparison
To understand L3Harris better
- How to Write an Investment Thesis (Step by Step)
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like L3Harris: aerospace and defence stocks and S&P 500 companies. Open the full LHX analysis with its valuation and scenarios. Educational content about L3Harris, not investment advice.