L3Harris Technologies (LHX) FY2024 results: revenue $21.3 billion, up 9.8% on the year
L3Harris Technologies, Inc. (LHX) reported revenue of $21.3 billion for fiscal 2024, the year ended 3 January 2025, up 9.8% on the year before. Net income was $1.5 billion, up 22.4%, and diluted earnings per share $7.87. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$21.3 billion
+9.8% on the year
FY2019FY2024
Operating margin
9.0%
7.3% a year earlier
FY2019FY2024
Net income
$1.5 billion
+22.4% on the year
FY2019FY2024
Diluted EPS
$7.87
+22.2% on the year
FY2019FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,559
2,096
2,158
+22.1%
Capital expenditure
408
449
252
-9.1%
Free cash flow
2,151
1,647
1,906
+30.6%
Free cash flow margin
10.1%
8.5%
11.2%
Cash from investing
-263
-7,021
-250
Cash from financing
-2,224
4,594
-1,951
Depreciation and amortisation
1,289
1,166
938
+10.5%
Share-based compensation
97.0
89.0
109
+9.0%
Buybacks
554
518
1,083
+6.9%
Dividends paid
886
868
864
+2.1%
Dividend per share
$4.64
$4.56
$4.48
+1.8%
Diluted shares, weighted
191m
191m
194m
+0.1%
Shares outstanding at period end
190m
190m
191m
-0.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
19,514
18,765
18,523
+4.0%
Non-controlling interest
65.0
64.0
101
+1.6%
Redeemable equity
0.0
n/a
n/a
Debt
11,596
13,125
7,045
-11.6%
Operating lease liabilities
650
705
741
-7.8%
Finance lease liabilities
206
243
165
-15.2%
Other liabilities
9,970
8,785
6,949
+13.5%
Total liabilities and equity
42,001
41,687
33,524
+0.8%
Goodwill
20,325
19,979
17,283
+1.7%
Intangible assets
7,639
8,540
6,001
-10.6%
Cash and equivalents
615
560
880
+9.8%
Receivables
1,072
1,230
1,251
-12.8%
Inventory
1,330
1,472
1,291
-9.6%
Other assets
11,020
9,906
6,818
+11.2%
Total assets
42,001
41,687
33,524
+0.8%
10-K for the year ended 3 January 2025, filed 14 February 2025: the filing.