Forensic Analysis · Industrial & Scientific Instruments · as of Nov 9, 2026

L3Harris Technologies, Inc. /De/ (LHX)

A forensic read on L3Harris Technologies, Inc. /De/ built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Grey Zone

Financial health

1.9

Distress distance

Clean

Earnings quality

Forensic signals

8.2%

ROE

9.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

L3Harris Technologies, Inc. /De/ earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.9, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

5.2%

FY2025

Return on invested capital. Return on invested capital is 5.2% in the latest fiscal year and rising across FY2023–FY2025 from 3.7%. After-tax operating profit was $1.3B in FY2023 and $1.8B in FY2025, with operating income at 7.3% of revenue in FY2023 and 9.0% in FY2024. The capital base behind it went from $34.7B in FY2023 to $33.6B in FY2025 (-3%). FY2023's operating profit carried a $374M asset write-down and a $296M goodwill write-off that alone took about 1.7 points off that year's return, so more than the whole 1.5-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more. A non-cash write-down lowers the reported return in the year it lands.

$395M

FY2023–FY2025

Goodwill impairments. Took $395M of goodwill writedowns across 3 years (FY2023 ($296M), FY2024 ($14M), FY2025 ($85M)) — about 9% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$21.32B

Revenue Growth YoY+9.8%

Net Margin7.0%

Free Cash Flow$2.68B

Return on Equity8.2%

Debt / Equity0.59x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.