L3Harris (LHX)
NYSEIndustrialsAerospace & DefenseSnapshot 2026-11-05
$258.11-0.63%
Close 2026-11-05 · 1-day change
NYSEIndustrialsAerospace & DefenseSnapshot 2026-11-05
QuarterlyIQ Insights · LHX
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within industrials on a research-validated quality screen. As of 2026-11-05.
The screen ranks LHX against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Industrials names rated strong grew net income 68% of the time over the next year (vs 52% for the rest of the cohort, n=6978).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Our priority now is to convert that demand into results.
Stated in 8 of 8 supplied quarters. Management reported: “Third Quarter & Recent Business Highlights • Captured a $6.3 billion (excluding escalations), seven-year undefinitized contract to scale propulsion production for the Terminal High Altitude Area Defense (THAAD) system • Captured a $4.7 billion (excluding escalations), seven-year undefinitized contract to scale propulsion production for the PAC-3 Missile Segment Enhancement (MSE) interceptor • Announced a $250 million follow-on contract to manufacture standard-range Guided Multiple Launch Rocket System (GMLRS) propulsion units • Secured more than $500 million in VAMPIRE C-UAS orders from the United States and allies.” Revenue was $6.060 billion in 2026-Q3.
“Our priority now is to convert that demand into results.”
“Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of…”
“Highlights • Orders of $7.8 billion; book-to-bill of 1.4x increases backlog to new record $40.7 billion • Revenue of $5.7 billion, up 12%, and 15% organically* • Operating margin of 11.4% up 120 bps;…”
“Our portfolio is directly aligned with the most critical national and global defense priorities, which drove record orders and strong organic growth, margins and cash flow.”
“Highlights* • Orders of $6.7 billion; book-to-bill of 1.2x • Revenue of $5.7 billion, up 7% versus prior year, and 10% organically • Operating margin of 11.0%; Adjusted segment operating margin of 15…”
“Document Exhibit 99.1 Earnings Release L3Harris Technologies Reports Strong Second Quarter 2025 Results, Increases 2025 Guidance Highlights* • Orders of $8.3 billion; book-to-bill of 1.5x • Revenue o…”
FY26 Guidance Management increases the bottom end of the revenue guidance range to $23.5 billion to $23.7 billion (prev.
Stated in 8 of 8 supplied quarters. Management reported: “FY26 Guidance Management increases the bottom end of the revenue guidance range to $23.5 billion to $23.7 billion (prev.” “Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of 16.0% • Diluted EPS of $3.13, up 28% • Operating cash flow of $879 million; Free cash flow of $771 million, both up 37% • Increased 2026 guidance for consolidated revenue and EPS “Our Trusted Disruptor culture, underpinned by early and strategic investments and leveraging our commercial business model, continues to deliver results.”
We will continue to invest in production capacity and differentiated capabilities across missiles and missile solutions, space, resilient communications and multi-domain sensing, which will enable us…
Stated in 8 of 8 supplied quarters. Management reported: “We will continue to invest in production capacity and differentiated capabilities across missiles and missile solutions, space, resilient communications and multi-domain sensing, which will enable us to deliver for the warfighter, our customers and our shareholders,” said Sam Mehta, President and CEO, L3Harris.”
$11.80 to $12.00) and maintains FY26 Free Cash Flow guidance of $3 billion 3 .
Stated in 8 of 8 supplied quarters. Management reported: “$11.80 to $12.00) and maintains FY26 Free Cash Flow guidance of $3 billion 3 .” “Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of 16.0% • Diluted EPS of $3.13, up 28% • Operating cash flow of $879 million; Free cash flow of $771 million, both up 37% • Increased 2026 guidance for consolidated revenue and EPS “Our Trusted Disruptor culture, underpinned by early and strategic investments and leveraging our commercial business model, continues to deliver results.”
Continue operating discipline and cost-saving actions while improving program performance and managing corporate expenses.
Over the trailing year it converted 0.51x of net income into operating cash flow. Historically, Industrials names rated fragile grew net income 50% of the time over the next year (vs 59% for the rest of the cohort, n=5006).
Not enough signal yet.
Not enough signal to read sensitivity to the broad stock market, real (inflation-adjusted) rates, long-term interest rates, the US dollar, Fed net liquidity (low R² over the window).
10 material management or governance events in the past 24 months, led by executive changes. Historically, Industrials names rated neutral grew net income 59% of the time over the next year (vs 56% for the rest of the cohort, n=8936).
Not investment advice. As of 2026-11-05.
“We continue to see demand for our solutions, reflecting our alignment with key national security priorities.”
“"2024 was a year of significant accomplishments as we delivered on our financial commitments, underscoring our agility and position as the defense industry’s Trusted Disruptor, and achieved a record…”
“FY26 Guidance Management increases the bottom end of the revenue guidance range to $23.5 billion to $23.7 billion (prev.”
“Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of…”
“Highlights • Orders of $7.8 billion; book-to-bill of 1.4x increases backlog to new record $40.7 billion • Revenue of $5.7 billion, up 12%, and 15% organically* • Operating margin of 11.4% up 120 bps;…”
“2026 Guidance Revenue Space & Mission Systems ~$11.5B Communication & Spectrum Dominance ~$8.0B Missiles Solutions ~$4.4B Total 3 $23B - $23.5B Segment Operating Margin Space & Mission Systems mid 10…”
“Highlights* • Orders of $6.7 billion; book-to-bill of 1.2x • Revenue of $5.7 billion, up 7% versus prior year, and 10% organically • Operating margin of 11.0%; Adjusted segment operating margin of 15…”
“Document Exhibit 99.1 Earnings Release L3Harris Technologies Reports Strong Second Quarter 2025 Results, Increases 2025 Guidance Highlights* • Orders of $8.3 billion; book-to-bill of 1.5x • Revenue o…”
“Based on our first quarter performance and the completion of the Commercial Aviation Solutions divestiture, we are updating our guidance while reaffirming our free cash flow commitment.””
“"2024 was a year of significant accomplishments as we delivered on our financial commitments, underscoring our agility and position as the defense industry’s Trusted Disruptor, and achieved a record…”
“We will continue to invest in production capacity and differentiated capabilities across missiles and missile solutions, space, resilient communications and multi-domain sensing, which will enable us…”
“Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of…”
“Highlights • Orders of $7.8 billion; book-to-bill of 1.4x increases backlog to new record $40.7 billion • Revenue of $5.7 billion, up 12%, and 15% organically* • Operating margin of 11.4% up 120 bps;…”
“Kubasik added, "As we look to 2026, our investments in technology and capacity along with a record backlog and strong demand signals give us confidence to deliver strong results.”
“Highlights* • Orders of $6.7 billion; book-to-bill of 1.2x • Revenue of $5.7 billion, up 7% versus prior year, and 10% organically • Operating margin of 11.0%; Adjusted segment operating margin of 15…”
“Document Exhibit 99.1 Earnings Release L3Harris Technologies Reports Strong Second Quarter 2025 Results, Increases 2025 Guidance Highlights* • Orders of $8.3 billion; book-to-bill of 1.5x • Revenue o…”
“"We’re building on our momentum with a strong start to the year, driven by solid operational execution and program performance, leading to continued expansion in adjusted segment operating margin.”
“Through our LHX NeXt initiative, we exceeded our cost-savings target for 2024, achieving $800 million, and are raising our overall cost-savings goal to $1.2 billion by the end of 2025, a year ahead o…”
“$11.80 to $12.00) and maintains FY26 Free Cash Flow guidance of $3 billion 3 .”
“Highlights • Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion • Revenue of $5.9 billion, up 8% • Operating margin of 11.1%, up 60 bps; Segment operating margin of…”
“Highlights • Orders of $7.8 billion; book-to-bill of 1.4x increases backlog to new record $40.7 billion • Revenue of $5.7 billion, up 12%, and 15% organically* • Operating margin of 11.4% up 120 bps;…”
“2026 Guidance Revenue Space & Mission Systems ~$11.5B Communication & Spectrum Dominance ~$8.0B Missiles Solutions ~$4.4B Total 3 $23B - $23.5B Segment Operating Margin Space & Mission Systems mid 10…”
“We remain confident in achieving our 2025 cash flow guidance assuming the government shutdown is resolved, with the strongest cash generation of the year expected in the fourth quarter.”
“Document Exhibit 99.1 Earnings Release L3Harris Technologies Reports Strong Second Quarter 2025 Results, Increases 2025 Guidance Highlights* • Orders of $8.3 billion; book-to-bill of 1.5x • Revenue o…”
“Our capital deployment strategy remains clear, returning nearly $800 million in the quarter to shareholders through dividends and share repurchases, and increasing our dividend for the 24th consecuti…”
“We are on track to achieve our 2026 financial framework and remain committed to returning excess cash to shareholders.”