L3Harris Technologies stock holds firm as contract wins support valuation

L3Harris Technologies stock (ISIN US5024311095) is trading in 2026 with a market capitalization of about USD 46.0 billion as of September 18, 2026, while trailing 12-month revenue stands at USD 22.9 billion with a net profit margin of 8.2 percent and year-over-year quarterly sales growth of 8.4 percent.

Revenue growth and profitability metrics

According to AAII, L3Harris Technologies, Inc. reported trailing 12-month revenue of USD 22.9 billion with a net profit margin of 8.2 percent and most recent year-over-year quarterly sales growth of 8.4 percent, highlighting that the company is expanding its top line while maintaining profitability in its latest reporting periods.

The same overview from AAII notes that L3Harris stock carries a price-earnings ratio of 25.0 based on recent data and pays a dividend yield of about 2.0 percent, indicating that investors are valuing the company at a premium multiple relative to its earnings while still receiving income.

Market performance and valuation context

As of September 18, 2026, AAII reports that L3Harris Technologies, Inc. had a market capitalization of USD 46.0 billion and that the stock was down 15.8 percent in 2026 year to date, while showing a gain of 0.7 percent over the previous five trading days and a decline of 12.27 percent over the past year.

This performance profile means that despite recent short-term stabilization, L3Harris stock is still trading below its levels from a year earlier, even as its revenue base and net margin remain solid, which may lead some investors to compare the valuation multiple of 25.0 with peers in the aerospace and defense sector on a relative basis.

Defense contracts and growth drivers

On September 21, 2026, Eurasia Review reported that under a USD 955 million agreement, L3Harris will provide 18 hypersonic and ballistic tracking space sensor-like missile defense variant satellites across two orbital planes, underscoring the companys role in next-generation missile warning and tracking architectures.

The same article from Eurasia Review adds that the US Space Force awarded initial contracts for Tranche 3 in December 2025 to L3Harris, Lockheed Martin, Northrop Grumman and Rocket Lab for a total of 72 satellites, with this final batch expected to be delivered in time for a 2028 launch, providing a multi-year revenue and execution pipeline for L3Harris in the space segment.

Stock assessment for investors

For investors evaluating L3Harris Technologies stock as of September 21, 2026, the combination of a USD 46.0 billion market capitalization, trailing 12-month revenue of USD 22.9 billion, an 8.2 percent net profit margin and 8.4 percent quarterly sales growth suggests that the company is generating sizeable cash flows from a diversified defense and space portfolio, while the year-to-date price decline of 15.8 percent indicates that the shares have lagged despite these fundamentals.

Additionally, the companys participation in a USD 955 million missile defense satellite agreement, with 18 satellites to be delivered ahead of a 2028 launch window, provides a concrete example of how long-dated defense contracts can underpin revenue visibility, even as investors weigh valuation metrics such as the 25.0 price-earnings ratio and the 2.0 percent dividend yield when positioning L3Harris stock within an aerospace and defense portfolio.

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