Industrials · NYSE/NASDAQ: LHX
L3HARRIS TECHNOLOGIES, INC. /DE/
Aerospace & Defense
Market Cap $56.67B
Verdict: High
Quality Scores
Multi-Bagger
74/100
Compounder Quality
88/100
Management Credibility
90/100
Governance
92/100
Cash Flow Quality
90/100
AI Summary
L3Harris Technologies (LHX) represents a successful aerospace and defense powerhouse formed by the 2019 merger of Harris Corporation and L3 Technologies. The company has successfully scaled from a $6B revenue base in 2018 to over $21B by 2025, demonstrating effective post-merger integration. It maintains a critical position in the defense industrial base with a focus on mission-critical communications, electronic warfare, and space systems. Recent financials show a steady compounding of earnings and cash flows despite global supply chain headwinds. The balance sheet reflects a significant…
Top Opportunities
- Significant scale post-L3 merger
- Robust Cash Conversion Cycle
- Essential national security supplier status
Top Risks
- High concentration on US govt spending (>70%)
- Debt levels jumped significantly in 2023
- Margin pressure from fixed-price contracts
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