L3Harris Technologies
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

20252025202620262027202720282028
Price/Earnings ratio
25.3625.0721.5921.7716.5216.4314.8014.62
Price/Sales ratio
2.422.422.302.302.222.202.102.07
Earnings per Share (EPS)
$10.76$10.88$12.64$12.53$16.51$16.61$18.44$18.67

Historical Multiples (2011 – 2023)

2011 2012 2013 2016 2017 2019 2019 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
8.49158.6448.1631.5524.6223.5126.6223.2537.6032.5433.3524.62
Price/Sales ratio
0.840.891.061.702.263.282.362.402.342.051.903.28
Price/Book Value ratio
1.992.503.483.344.566.631.932.232.152.122.116.63
Price/Cash Flow ratio
5.995.696.5311.0623.5018.8346.6115.9718.5019.0518.1418.83
Price/Free Cash Flow ratio
9.837.848.3113.2429.7121.7957.1318.3020.9524.2422.4722.47
Price/Earnings Growth ratio
1.14-1.680.16-1.840.340.64-3.500.30-0.941.939.670.34
Dividend Yield
2.54%2.87%3.02%2.46%1.95%1.45%0.77%1.90%2.16%2.17%2.18%1.95%
Profitability Indicator Ratios
Gross Profit Margin
35.68%34.52%33.77%36.04%34.64%34.31%27.38%30.17%28.87%26.32%24.31%34.31%
Operating Profit Margin
16.37%17.26%8.31%17.60%17.95%18.82%12.19%14.39%13.90%7.34%9.37%18.82%
Pretax Profit Margin
14.86%15.44%13.00%14.75%15.07%16.36%9.80%12.81%7.46%6.28%5.60%16.36%
Net Profit Margin
9.92%0.56%2.21%5.40%9.20%13.95%8.87%10.36%6.22%6.31%5.70%13.95%
Effective Tax Rate
33.33%33.97%30.49%30.88%29.35%14.37%8.03%19.27%16.65%1.88%0.33%14.37%
Return on Assets
9.52%0.54%2.32%2.69%5.38%9.38%4.28%5.31%3.16%2.94%2.88%9.38%
Return On Equity
23.50%1.57%7.23%10.60%18.54%28.21%7.27%9.60%5.73%6.53%6.41%28.21%
Return on Capital Employed
20.45%22.52%11.92%10.52%12.97%16.30%6.58%8.50%8.54%4.23%5.84%16.30%
Liquidity Ratios
Current Ratio
1.541.831.50N/AN/AN/AN/AN/AN/AN/A1.04N/A
Quick Ratio
0.880.790.810.880.630.971.271.180.940.820.860.63
Cash ratio
0.250.250.240.240.250.230.200.200.150.060.060.23
Days of Sales Outstanding
55.0751.0352.3345.6240.0478.0872.4085.3126.7683.1982.3840.04
Days of Inventory outstanding
69.0663.1772.1082.5879.6429.4133.0728.8138.8337.5531.9131.91
Operating Cycle
124.14114.21124.44128.20119.69107.50105.48114.1365.59120.74114.29114.29
Days of Payables Outstanding
43.2038.9636.6047.0551.1442.8934.2151.8558.5053.7346.7342.89
Cash Conversion Cycle
80.9375.2487.8381.1568.5564.6071.2662.287.0967.0167.5567.55
Debt Ratios
Debt Ratio
0.590.650.350.370.390.340.180.200.210.300.300.34
Debt Equity Ratio
1.461.881.111.471.371.040.300.360.380.680.671.04
Long-term Debt to Capitalization
0.420.490.500.570.530.450.220.260.250.360.360.45
Total Debt to Capitalization
0.450.510.520.590.570.510.230.260.270.400.400.51
Interest Coverage Ratio
10.738.317.44N/AN/AN/AN/AN/AN/AN/A2.89N/A
Cash Flow to Debt Ratio
0.400.410.480.200.140.330.130.380.300.160.170.14
Company Equity Multiplier
2.462.883.113.923.443.001.691.801.802.222.203.00
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.140.150.160.150.090.170.050.150.120.100.100.09
Free Cash Flow / Operating Cash Flow Ratio
0.610.720.780.830.790.860.810.870.880.780.800.79
Cash Flow Coverage Ratio
0.400.410.480.200.140.330.130.380.300.160.170.14
Short Term Coverage Ratio
4.505.195.272.320.891.563.61206.692.631.071.220.89
Dividend Payout Ratio
21.59%456.20%145.75%77.77%48.25%34.24%20.49%44.25%81.35%70.74%72.99%48.25%