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L3Harris key statistics and ratios

In fiscal 2024, L3Harris had return on equity of 7.8% and a net margin of 7.0%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2008Jun 20082009Jul 20092010Jul 20102011Jul 20112012Jun 20122013Jun 20132014Jun 20142015Jul 20152016Jul 20162017Jun 20172018Jun 20182019Jun 20192020Jan 20212021Dec 20212022Dec 20222023Dec 20232024Jan 2025LTMOct 2026
Net margin9.7%0.8%11.9%10.9%0.6%2.2%10.7%8.6%5.4%9.2%11.3%14.0%6.2%10.4%6.2%6.3%7.0%8.8%
Return on equity17.1%1.7%27.7%25.1%1.4%6.5%31.6%12.8%10.0%18.2%22.6%28.6%9.3%9.2%5.6%6.6%7.8%10.3%
Return on assets—0.8%12.2%10.8%0.5%2.2%11.0%3.7%2.6%4.9%7.0%9.5%4.8%5.2%3.1%3.3%3.6%4.8%
Effective tax rate32.1%35.6%33.7%33.9%34.0%30.5%32.2%27.5%30.9%29.4%22.7%14.4%17.7%19.3%16.7%1.9%5.3%15.7%
SG&A as % of revenue——————————19.1%18.3%18.2%18.4%17.6%17.1%16.7%14.5%
Dividends ÷ net income18.3%281.3%20.5%21.6%456.2%146.0%33.6%59.3%77.8%48.3%38.9%34.2%64.8%44.3%81.4%70.7%59.0%45.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 6 checks passed · October 2, 2026
What it owns · $43.8bn
Short-term assets $10.6bnLonger-term assets $33.2bn
What it owes, and who funded it · $42.8bn
Short-term liabilities $8.8bnLonger-term liabilities $13.7bnShareholders' equity $20.2bn
  • Short-term assets cover short-term liabilities $10.6bn of assets due within a year against $8.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $10.6bn short-term assets against $13.7bn of longer-dated liabilities.
  • More cash than debt $2.5bn of cash against $9.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 45% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 35% to 45% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.2bn of operating cash flow against $9.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From L3Harris's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

60 /100

Moderate moat

How hard L3Harris's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Cash operating profit has been a median 5.2% of total assets over 7 years.

  • Pricing power 9 / 20

    Gross margin has been a median 27.5%, moving by 3.7 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Operating margin has been a median 10.7%; its worst year was 7.1%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 9.2% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

More: Aerospace & Defense stocks compared, Industrials sector, rankings of US companies

Figures from L3Harris's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to L3Harris.