L3Harris Technologies Inc (LHX) Fair Value & Analysis
Industrials · US · Market cap $53.0B · ISIN US5024311095
What is L3Harris Technologies Inc really worth?
L3Harris Technologies Inc
LHX · US
A solid business, but trading 79% above our fair value of $146.55.
Strengths
Risks
For context
Fair value as of: Aug 31, 2026
From 26 valuation models · updated 5 days ago
Share price −8.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($194.92). The favourable scenario is already priced in.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($101.83 to $194.92) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $152.98 – $375.64 · fair‑value band $101.83 – $194.92 · the $262.14 price screens above the $146.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.
Analysis
L3Harris Technologies Inc (LHX) currently trades at $262.14, while our model-based Fair Value estimate is $146.55, implying the stock looks roughly 78.9% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $176.36 per share, and 0 of the 26 models we run sit above the $262.14 price. Bear case: the Economic Profit group reads lowest at $58.47, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, L3Harris Technologies Inc generated revenue of $12.9B at a net margin of 10.4%. Revenue grew 190.0% year over year. It earns a return on equity of 8.2%. Net debt stands at $9.4B. Fundamentals as of Aug 31, 2026
Our scenario range runs from $101.83 (bear case) to $194.92 (bull case); at $262.14, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −45% fair-value upside, at −44%, LHX screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.24 per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($176.36) versus Economic Profit ($58.47). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 38
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide. It operates through three segments: Space & Mission Systems (SMS), Communications & Spectrum Dominance (CSD), and Missile Solutions (MSL).
Full company description
L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide. It operates through three segments: Space & Mission Systems (SMS), Communications & Spectrum Dominance (CSD), and Missile Solutions (MSL). The SMS segment integrates satellite and payload capabilities, including missile warning and defense, with maritime, air special missions, and other global defense and civil government programs. Its MSL segment unites propulsion, hypersonic, and other advanced missile technologies. The CSD 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, such as 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. 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 headquartered in Melbourne, Florida.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
L3Harris Technologies Inc reported revenue of $21.9B in FY2025 versus $17.8B in FY2021, a compound +5.3%/yr. Reported net income was $1.6B in FY2025, compounding −3.4%/yr from FY2021.
of which total revenue +17.3 % · buybacks/dilution −5.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LHX screens 79% overvalued. Compare with General Electric Company →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Can L3Harris' Strategic Investment Strengthen Missile Solutions?
- Should L3Harris’ Space and Missile Momentum and New Navy Work Require Action From LHX Investors?
- L3Harris Technologies (LHX) Deepens Its Role In Navy Electronic Warfare Program
- L3Harris Technologies (LHX) On CEO Exit The Bull Case Still Points To Undervaluation
Peer Group
Aerospace & Defense · 229 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Aerospace & Defense median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $335.71 | $116.71 | −65% |
| RTX Corporation RTX | $212.08 | $88.37 | −58% |
| Airbus SE AIR | €213.00 | €117.01 | −45% |
| Lockheed Martin Corporation LMT | $565.89 | $419.01 | −26% |
| Howmet Aerospace Inc HWM | $264.85 | $50.43 | −81% |
| General Dynamics Corporation GD | $379.32 | $274.32 | −28% |
| Northrop Grumman Corporation NOC | $545.57 | $356.59 | −35% |
| TransDigm Group TDG | $1,235 | $571.03 | −54% |
| Thales S.A HO | €243.70 | €171.13 | −30% |
| Rheinmetall AG RHM | €1,155 | €314.04 | −73% |
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