Company Overview

L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide. The company delivers end-to-end technology solutions connecting the space, air, land, sea, and cyber domains in the interest of national security. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is based in Melbourne, Florida.

As of July 2025, L3Harris Technologies has a market capitalization of $50.94 Billion USD, making it the world's 444th most valuable company by market cap.

Business Segments

L3Harris operates through four main segments:

Space & Airborne Systems (SAS)

The SAS segment provides satellite space payloads, sensors, and full-mission solutions; classified intelligence and cyber; airborne combat systems; and mission networks for air traffic management operations.

Integrated Mission Systems (IMS)

The IMS segment offers intelligence, surveillance, and reconnaissance (ISR) systems; passive sensing and targeting; electronic attack platforms; autonomy, power and communications, networks, and sensors.

Communication Systems (CS)

The CS segment provides tactical radios, software, waveforms, satellite terminals, and end-to-end battlefield systems for the U.S. Department of Defense, international, federal, and state agency customers; broadband communications; integrated vision solutions, including helmet-mounted integrated night vision goggles with image intensifier tubes and weapon-mounted sights, aiming lasers, and range finders; and public safety radios, and system applications and equipment.

Aerojet Rocketdyne (AR)

The AR segment offers propulsion technologies and armament systems for strategic defense, missile defense, hypersonic, and tactical systems; and space propulsion and power systems for national security space and exploration missions.

Financial Performance and Market Position

The company has demonstrated consistent revenue growth and strong financial performance, supported by its diverse portfolio and strategic contracts. L3Harris is positioned as a critical provider of technology solutions across multiple defense and commercial domains.

Revenue Growth

- In 2024, the company reported revenue of $21.32 Billion USD, an increase from $19.41 Billion USD in 2023, representing a 9.82% increase.

- As of September 2025, L3Harris Technologies' TTM (Trailing Twelve Months) revenue is $21.37 Billion USD. Revenue for the twelve months ending March 31, 2025, was $21.246 Billion USD, a 5.39% increase year-over-year.

Recent Quarterly Results

- Q2 2025: Revenue of $5.4 billion (up 2% reported, 6% organically); Operating margin of 10.5%; Diluted EPS of $2.44; Non-GAAP diluted EPS of $2.78 (up 16%).

- Q1 2025: Revenue of $5.1 billion; Operating margin of 10.2%; Diluted EPS of $2.04; Non-GAAP diluted EPS of $2.41.

2024 Annual Results

- 2024 Performance: Orders of $24.2 billion; book-to-bill ratio of 1.14x; Revenue of $21.3 billion (up 10% reported, 4% organically); Cash from operations of $2.6 billion; Adjusted free cash flow of $2.3 billion.

- Earnings: $1.50 billion, an increase of 22.41%.

Key Financial Metrics

- Q2 2025 Performance: Revenue of $5.4 Billion USD, Non-GAAP Diluted EPS of $2.78

- Q1 2025 Performance: Revenue of $5.1 Billion USD, Non-GAAP Diluted EPS of $2.41

- 2024 Revenue: $21.32 Billion USD

- 2024 Net Earnings: $1.50 Billion USD

- Market Capitalization: $50.94 Billion USD (as of July 2025)

Business Operations and Strategic Initiatives

L3Harris Technologies continues to secure significant contracts, reinforcing its position as a key player in the defense and aerospace industries. The company's strategy focuses on leveraging its technological versatility and diverse portfolio across defense and commercial sectors to ensure stability and capitalize on growth opportunities in an evolving market landscape.

Recent Developments & Contracts

The company actively secures substantial contracts. L3Harris Technologies recently received a contract valued up to $292 million to continue its role producing propulsion for the Javelin weapon system. Furthermore, the company is expanding its partnerships in emerging technologies, with strategic collaborations in AI-driven defense solutions and aerospace innovation.

Market Position & Strategy

L3Harris's unique versatility as a prime, sub, or merchant supplier, combined with 20% commercial revenue, strongly positions it for future growth. The company's diverse portfolio across defense and commercial sectors provides stability and growth opportunities. L3Harris maintains a robust order book, with Q2 2025 orders reaching $8.3 billion and a book-to-bill ratio of 1.5x, indicating strong demand and supporting revenue visibility.

Dividend Policy

L3Harris maintains a consistent dividend policy. The Board of Directors has declared a quarterly cash dividend of $1.20 per common share, demonstrating the company's commitment to returning value to shareholders while continuing to invest in strategic growth opportunities.

L3Harris Technologies stands as a prominent player in the defense and aerospace industry, leveraging its comprehensive technology portfolio and strong market position to deliver innovative solutions across critical national security domains. The company's diversified business model and consistent financial performance make it a significant entity in the defense contracting sector.