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L3Harris Technologies Inc (LHX) vs RTX Corporation (RTX)

L3Harris Technologies Inc and RTX Corporation are both Aerospace & Defense companies. RTX Corporation is the larger, with a market value of $248.4B against $44.1B — 5.6× the size. L3Harris Technologies Inc trades at the lower P/E: 23.8× against 32.3×. RTX Corporation grew revenue faster over the last twelve months: 11.8% against 7.29%. RTX Corporation has the higher net margin (8.28% vs 8.11%) and the higher return on invested capital (6.74% vs 5.12%). Both pay a dividend; L3Harris Technologies Inc yields more (2.09% vs 1.52%). Across the 23 metrics below, L3Harris Technologies Inc leads on 13 and RTX Corporation on 10.

Valuation

Metric LHX RTX Aerospace & Defense median
P/E 23.79 32.34 32.34
P/S 1.92 2.69 3.59
P/B 2.22 3.69 2.83
Price to free cash flow 15.72 22.87 31.13
EV/EBITDA 14.57 18.83 18.50
EV/Sales 2.34 3.00 3.61
Earnings yield 4.20% 3.09% 1.35%
Free cash flow yield 6.36% 4.37% 0.00%

Profitability

Metric LHX RTX Aerospace & Defense median
Gross margin 25.48% 20.35% 25.48%
Operating margin 10.49% 11.21% 4.54%
Net margin 8.11% 8.28% 2.22%
Free cash flow margin 12.24% 11.75% 0.00%
Return on equity 9.50% 11.70% 6.43%
Return on assets 4.42% 4.54% 2.70%
Return on invested capital 5.12% 6.74% 1.56%

Growth

Metric LHX RTX Aerospace & Defense median
Revenue growth (TTM) 7.29% 11.84% 18.43%
EPS growth (last fiscal year) 8.39% 39.72% 24.27%
Revenue growth, 5-year CAGR 3.74% 9.38% 9.73%
Net income growth, 5-year CAGR 7.49% 0.00% 0.00%

Health

Metric LHX RTX Aerospace & Defense median
Debt to equity 0.55 0.55 0.24
Current ratio 1.18 1.01 2.72
Net debt to EBITDA 2.68 2.23 1.12

Dividend

Metric LHX RTX Aerospace & Defense median
Dividend yield 2.09% 1.52% 0.92%
Payout ratio 0.50 0.50 0.33

Size

Metric LHX RTX Aerospace & Defense median
Market cap 44.12b 248.42b 2.33b

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