L3Harris Technologies (LHX) Q4 FY2025 earnings: revenue $5.6 billion, up 2.3% on the year

L3Harris Technologies, Inc. (LHX) reported revenue of $5.6 billion for Q4 FY2025, the quarter ended 2 January 2026, up 2.3% on the same quarter a year earlier. Net income was $300 million, down 33.8% on the year, and diluted earnings per share $1.59. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2026.

Revenue

$5.6 billion

+2.3% on the year · -0.2% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

7.0%

10.3% a year earlier

Q1 FY2024Q4 FY2025

Net income

$300 million

-33.8% on the year · -35.1% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$1.59

-32.9% on the year · -35.4% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 12 new.

Full-year revenue grew 3%, 5% organic: Full-year revenue reached $21.9 billion, up 3% and 5% organically. Management said organic growth came across all segments, from new program ramps and higher international deliveries.
Adjusted segment margin rose 40 bps: GAAP operating margin rose 70 bps to 9.7%, and adjusted segment operating margin rose 40 bps to 15.8%. Management cited monetization of legacy end-of-life assets and LHX NeXt cost savings across segments.
Unallocated corporate costs declined: Unallocated corporate items totaled $1,256 million for the year against $1,351 million, as LHX NeXt implementation costs, acquisition intangible amortization and merger costs fell.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	5,648	5,659	5,523	-0.2%	+2.3%
Cost of revenue	4,202	4,165	4,126	+0.9%	+1.8%
Gross profit	1,446	1,494	1,397	-3.2%	+3.5%
Gross margin	25.6%	26.4%	25.3%
Selling, general and administrative	968	873	790	+10.9%	+22.5%
Operating income	393	621	569	-36.7%	-30.9%
Operating margin	7.0%	11.0%	10.3%
Interest expense	143	152	675	-5.9%	-78.8%
Pre-tax income	382	567	487	-32.6%	-21.6%
Income tax	82.0	105	31.0	-21.9%	+164.5%
Effective tax rate	21.5%	18.5%	6.4%
Net income	300	462	453	-35.1%	-33.8%
Net margin	5.3%	8.2%	8.2%
Diluted EPS	$1.59	$2.46	$2.37	-35.4%	-32.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	1,962	546	1,129	+259.3%	+73.8%
Capital expenditure	158	119	118	+32.8%	+33.9%
Free cash flow	1,804	427	1,011	+322.5%	+78.4%
Free cash flow margin	31.9%	7.5%	18.3%
Cash from investing	-130	-129	-112
Cash from financing	-1,107	-560	-915
Depreciation and amortisation	311	309	326	+0.6%	-4.6%
Share-based compensation	30.0	35.0	21.0	-14.3%	+42.9%
Buybacks	156	176	42.0	-11.4%	+271.4%
Dividends paid	225	225	221	0.0%	+1.8%
Dividend per share	n/a	$1.20	n/a
Diluted shares, weighted	188m	188m	191m	+0.1%	-1.3%
Shares outstanding at period end	187m	187m	190m	-0.2%	-1.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	19,635	19,532	19,514	+0.5%	+0.6%
Non-controlling interest	0.0	0.0	65.0
Redeemable equity	0.0	n/a	0.0
Short-term borrowings	0.0	n/a	n/a
Debt	10,443	11,722	11,596	-10.9%	-9.9%
Operating lease liabilities	653	n/a	601		+8.7%
Finance lease liabilities	221	n/a	203		+8.9%
Other liabilities	10,243	9,760	10,022	+4.9%	+2.2%
Total liabilities and equity	41,195	41,014	42,001	+0.4%	-1.9%
Goodwill	20,010	20,370	20,325	-1.8%	-1.5%
Intangible assets	6,509	7,072	7,639	-8.0%	-14.8%
Investments	170	n/a	n/a
Cash and equivalents	1,069	339	615	+215.3%	+73.8%
Receivables	1,371	1,528	1,072	-10.3%	+27.9%
Inventory	1,219	1,291	1,330	-5.6%	-8.3%
Other assets	10,847	10,414	11,020	+4.2%	-1.6%
Total assets	41,195	41,014	42,001	+0.4%	-1.9%

Questions

What was L3Harris Technologies' revenue in Q4 FY2025?

L3Harris Technologies (LHX) reported revenue of $5.6 billion for Q4 FY2025, the quarter ended 2 January 2026, up 2.3% on the same quarter a year earlier.

How much did L3Harris Technologies earn in Q4 FY2025?

Net income for Q4 FY2025 was $300 million, down 33.8% on the year, and diluted earnings per share $1.59.

When did L3Harris Technologies report Q4 FY2025 results?

L3Harris Technologies filed its 10-K for the year that ended with the quarter on 12 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023 †	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4,350	4,103	4,135	4,246	4,578	4,471	4,693	4,915	5,340	5,211	5,299	5,292	5,523	5,132	5,426	5,659	5,648	5,744	5,881	6,060
Cost of revenue	3,053	2,860	2,907	3,052	3,316	3,305	3,506	3,608	3,887	3,863	3,939	3,873	4,126	3,782	4,091	4,165	4,202	4,342	4,379	4,448
Gross profit	1,297	1,243	1,228	1,194	1,262	1,166	1,187	1,307	1,453	1,348	1,360	1,419	1,397	1,350	1,335	1,494	1,446	1,402	1,502	1,612
Gross margin	30%	30%	30%	28%	28%	26%	25%	27%	27%	26%	26%	27%	25%	26%	25%	26%	26%	24%	26%	27%
SG&A	795	745	744	742	799	773	787	828	878	970	884	924	790	825	764	873	968	750	848	826
Operating income	n/a	n/a	n/a	n/a	n/a	393	400	479	154	378	476	495	569	525	571	621	393	652	654	786
Operating margin	n/a	n/a	n/a	n/a	n/a	9%	9%	10%	3%	7%	9%	9%	10%	10%	11%	11%	7%	11%	11%	13%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	159	n/a	n/a	n/a	166	675	150	152	152	143	136	129	116
Pre-tax income	588	536	525	-321	533	373	372	400	76.0	290	390	430	487	459	524	567	382	589	710	743
Tax rate	18%	11%	10%	n/a	22%	9%	6%	4%	-66%	2%	6%	6%	6%	16%	13%	19%	21%	13%	15%	15%
Net income	484	475	471	-300	416	337	349	383	158	283	366	400	453	386	458	462	300	512	600	632
Net margin	11%	12%	11%	-7%	9%	8%	7%	8%	3%	5%	7%	8%	8%	8%	8%	8%	5%	9%	10%	10%
Diluted EPS	$2.44	$2.44	$2.42	-$1.56	$2.19	$1.76	$1.83	$2.02	$0.83	$1.48	$1.92	$2.10	$2.37	$2.04	$2.44	$2.46	$1.59	$2.72	$3.13	$3.28
Operating cash flow	822	39.0	749	588	782	350	414	543	789	-104	754	780	1,129	-42.0	640	546	1,962	-95.0	879	1,439
Capital expenditure	135	55.0	62.0	64.0	71.0	71.0	93.0	148	137	115	97.0	78.0	118	59.0	88.0	119	158	99.0	108	179
Free cash flow	687	-16.0	687	524	711	279	321	395	652	-219	657	702	1,011	-101	552	427	1,804	-194	771	1,260
Buybacks	800	308	421	171	183	396	122	0.0	0.0	233	89.0	190	42.0	569	253	176	156	296	229	73.0
Dividends paid	199	218	217	215	214	220	216	216	216	224	221	220	221	228	225	225	225	238	232	234
Shares outstanding	194m	193m	192m	191m	191m	189m	189m	189m	190m	189m	190m	190m	190m	188m	187m	187m	187m	187m	186m	186m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 2 January 2026, filed 12 February 2026: the filing.