L3Harris Technologies (LHX) 10-K Summaries & Annual Filing History
Review L3Harris Technologies, Inc. (LHX) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Jan 2, 2026 · FY2025 10-K
L3Harris Technologies filed its annual report, showing a rise in revenue and operating income compared to the prior period. The company highlighted a large contractual backlog and continued investment in research and development.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$21.9B
Revenue reported for the fiscal year.
Operating income
$2.1B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$3.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 30, 2022 | $17.1B | -4.2% |
| Dec 29, 2023 | $19.4B | +13.8% |
| Jan 3, 2025 | $21.3B | +9.8% |
| Jan 2, 2026 | $21.9B | +2.5% |
Business overview
L3Harris Technologies operates as a defense contractor, providing communication, electronic, and mission-critical systems. The company holds a substantial portfolio of patents and intellectual property, with some licensed to the U.S. Government under non-exclusive, royalty-free terms. It is subject to various federal, state, local, and international regulations.
Financial performance
Revenue increased compared to the prior year, driven by higher revenues across all segments. Operating income also rose, while net income attributable to the company improved. The effective tax rate was higher than in the prior period.
Material risks
The filing identifies risks related to government regulations, intellectual property licensing to the U.S. Government, and potential impairment of goodwill and other assets. The company also faces uncertainties in contractual backlog recognition and reliance on customer-funded research and development.
Liquidity and capital
The company uses operating cash flow, revenue, and operating income as key measures to assess business success and shareholder value creation. These metrics are also used for executive compensation.
What to watch
Monitor the recognition of the contractual backlog, as a significant portion is expected to be realized in the near term.