$17.5 B

HRS Mkt cap, 14-Dec-2018

$1.5 B

Harris Revenue Q1, 2019
Harris Gross profit (Q1, 2019)532 M
Harris Gross profit margin (Q1, 2019), %34.5%
Harris Net income (Q1, 2019)213 M
Harris EBIT (Q1, 2019)253 M
Harris Cash, 28-Sep-2018305 M
Harris EV20.9 B

Harris Revenue

Harris revenue was $6.18 b in FY, 2018 which is a 4.8% year over year increase from the previous period.

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Harris Revenue Breakdown

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Harris revenue breakdown by business segment: 38.3% from Electronic Systems, 31.0% from Space and Intelligence Systems and 30.7% from Communication Systems

Harris Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

5.0b5.1b7.5b5.9b6.2b

Revenue growth, %

1%47%(21%)5%

Cost of goods sold

3.3b3.4b5.1b3.8b3.9b

Gross profit

1.7b1.7b2.3b2.1b2.3b

Gross profit Margin, %

34%34%31%35%36%

R&D expense

264.1m277.0m309.0m310.0m311.0m

General and administrative expense

819.6m1.0b1.2b1.0b1.1b

Operating expense total

819.6m1.0b1.2b1.0b1.1b

EBIT

881.9m713.0m782.0m1.1b1.1b

EBIT margin, %

18%14%10%18%18%

Interest expense

93.6m130.0m183.0m172.0m170.0m

Interest income

2.8m2.0m2.0m2.0m2.0m

Pre tax profit

795.4m477.0m611.0m905.0m926.0m

Income tax expense

256.2m143.0m(266.0m)267.0m205.0m

Net Income

534.8m334.0m324.0m553.0m718.0m

Harris Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

561.0m481.0m487.0m484.0m288.0m

Accounts Receivable

566.1m1.2b937.0m623.0m735.0m

Inventories

618.7m1.0b964.0m841.0m925.0m

Current Assets

2.0b3.5b2.6b2.1b2.2b

PP&E

728.1m1.2b1.0b904.0m900.0m

Goodwill

1.7b6.3b6.0b5.4b5.4b

Total Assets

4.9b13.1b12.0b10.1b9.8b

Accounts Payable

324.3m581.0m602.0m540.0m622.0m

Short-term debt

59.7m130.0m382.0m634.0m304.0m

Current Liabilities

1.1b2.3b2.0b1.9b1.8b

Long-term debt

1.6b5.1b4.1b3.4b3.4b

Non-Current Liabilities

2.0b7.4b7.0b5.2b4.7b

Total Debt

1.6b5.2b4.5b4.0b3.7b

Total Liabilities

3.1b9.7b8.9b7.2b6.5b

Common Stock

106.0m124.0m125.0m120.0m118.0m

Additional Paid-in Capital

509.1m2.0b2.1b1.7b1.7b

Retained Earnings

1.2b1.3b1.3b1.3b1.7b

Total Equity

1.8b3.4b3.1b2.9b3.3b

Debt to Equity Ratio

0.9 x1.5 x1.5 x1.4 x1.1 x

Debt to Assets Ratio

0.3 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

2.7 x3.9 x3.9 x3.4 x3 x

Quarterly

USDQ3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

449.1m469.5m487.7m320.0m511.0m302.0m284.0m361.0m302.0m388.0m422.0m443.0m305.0m

Accounts Receivable

603.7m582.0m652.7m1.1b935.0m1.1b976.0m762.0m714.0m706.0m642.0m743.0m432.0m

Inventories

674.0m648.3m649.6m635.7m1.1b1.1b992.0m962.0m1.0b894.0m896.0m942.0m963.0m413.0m

Current Assets

1.9b1.9b2.0b3.1b2.8b2.9b2.4b2.6b2.9b2.1b2.1b2.4b2.3b

PP&E

730.5m724.5m705.5m1.2b1.1b1.0b988.0m908.0m895.0m890.0m878.0m879.0m898.0m

Goodwill

1.7b1.7b1.7b6.3b6.0b5.9b6.0b5.8b5.4b5.4b5.4b5.4b5.4b

Total Assets

4.8b4.8b4.8b12.7b12.1b11.9b11.8b11.6b11.1b10.1b9.9b10.1b9.9b

Accounts Payable

302.9m292.1m279.6m455.0m558.0m529.0m508.0m540.0m428.0m452.0m462.0m494.0m480.0m

Short-term debt

53.6m75.3m27.3m180.0m583.0m474.0m399.0m313.0m354.0m602.0m528.0m828.0m305.0m

Current Liabilities

1.1b1.0b1.0b1.9b2.1b2.0b1.9b1.7b1.7b1.9b1.7b2.1b2.0b

Long-term debt

1.6b1.6b1.6b4.9b4.4b4.3b4.1b4.1b3.9b3.4b3.4b3.4b3.4b

Non-Current Liabilities

2.0b2.0b1.9b7.2b6.7b6.5b6.9b6.8b6.5b5.2b5.1b4.8b4.7b

Total Debt

1.6b1.7b1.6b5.1b5.0b4.8b4.5b4.4b4.2b4.0b3.9b4.2b3.7b

Total Liabilities

3.0b3.0b3.0b9.1b8.8b8.5b8.7b8.5b8.2b7.1b6.9b6.9b6.6b

Common Stock

104.6m104.1m104.2m124.0m124.0m124.0m124.0m124.0m122.0m119.0m119.0m119.0m118.0m

Additional Paid-in Capital

522.0m495.7m498.9m512.5m2.0b2.1b2.1b2.0b2.1b1.7b1.7b1.7b1.7b1.6b

Retained Earnings

1.2b1.2b1.3b1.4b1.3b1.1b1.2b1.4b1.5b1.6b1.4b1.4b1.5b1.7b

Total Equity

1.8b1.8b1.8b1.8b3.5b3.3b3.4b3.1b3.2b2.9b3.0b3.0b3.1b3.2b

Debt to Equity Ratio

0.9 x0.9 x0.9 x1.5 x1.5 x1.4 x1.5 x1.4 x1.4 x1.3 x1.3 x1.3 x1.1 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

2.7 x2.6 x2.6 x3.7 x3.7 x3.5 x3.9 x3.7 x3.8 x3.4 x3.3 x3.2 x3 x

Harris Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

534.2m334.0m324.0m553.0m718.0m

Depreciation and Amortization

204.3m244.0m229.0m183.0m158.0m

Accounts Receivable

115.8m(17.0m)192.0m111.0m(112.0m)

Inventories

50.1m20.0m(28.0m)28.0m(84.0m)

Accounts Payable

(50.0m)31.0m82.0m18.0m82.0m

Cash From Operating Activities

849.2m854.0m924.0m569.0m751.0m

Purchases of PP&E

(209.3m)(148.0m)(152.0m)(119.0m)(136.0m)

Cash From Investing Activities

(162.6m)(3.3b)(1.0m)870.0m(141.0m)

Long-term Borrowings

(134.0m)(954.0m)(730.0m)(584.0m)(1.7b)

Dividends Paid

(180.3m)(198.0m)(252.0m)(262.0m)(272.0m)

Cash From Financing Activities

(448.1m)2.4b(893.0m)(1.4b)(805.0m)

Net Change in Cash

240.0m(80.0m)6.0m(3.0m)(196.0m)

Income Taxes Paid

202.0m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

403.0m125.0m264.0m390.0m148.0m(4.0m)164.0m160.0m337.0m422.0m161.0m300.0m501.0m213.0m

Depreciation and Amortization

51.0m104.0m164.0m61.0m114.0m163.0m53.0m101.0m140.0m40.0m80.0m117.0m65.0m

Accounts Receivable

(37.6m)(15.9m)(86.6m)82.0m220.0m102.0m(39.0m)125.0m14.0m(83.0m)(19.0m)(120.0m)34.0m

Inventories

(20.0m)(29.7m)(30.9m)(17.0m)(108.0m)(91.0m)(22.0m)2.0m(50.0m)(26.0m)(56.0m)(102.0m)(122.0m)(3.0m)

Accounts Payable

(102.3m)(119.9m)(111.1m)(158.0m)(128.0m)(175.0m)(75.0m)(132.0m)(113.0m)(88.0m)(78.0m)(46.0m)(141.0m)

Cash From Operating Activities

454.0m80.0m222.0m395.0m64.0m387.0m507.0m43.0m295.0m489.0m95.0m373.0m230.0m117.0m

Purchases of PP&E

(41.0m)(79.0m)(102.0m)(26.0m)(51.0m)(84.0m)(21.0m)(49.0m)(79.0m)(23.0m)(43.0m)(79.0m)(31.0m)

Cash From Investing Activities

(58.0m)(116.0m)(34.0m)(72.0m)(95.0m)(24.0m)(49.0m)(112.0m)(46.0m)(74.0m)271.0m(23.0m)(45.0m)(81.0m)(31.0m)

Long-term Borrowings

(9.0m)(17.0m)(46.0m)(173.0m)(395.0m)(510.0m)(38.0m)(300.0m)(548.0m)(35.0m)(363.0m)(367.0m)

Dividends Paid

(50.0m)(99.0m)(149.0m)(64.0m)(127.0m)(189.0m)(68.0m)(134.0m)(199.0m)(69.0m)(137.0m)(205.0m)(82.0m)

Cash From Financing Activities

(150.0m)(219.0m)(336.0m)(192.0m)(295.0m)(560.0m)(201.0m)(341.0m)(942.0m)(174.0m)(394.0m)(196.0m)(69.0m)

Net Change in Cash

(112.0m)(91.0m)(73.0m)(161.0m)30.0m(179.0m)(203.0m)(126.0m)(185.0m)(96.0m)(62.0m)(41.0m)17.0m

Income Taxes Paid

(1.0m)37.0m

Harris Ratios

USDY, 2018

EV/EBIT

82.5 x

EV/CFO

178.5 x

Debt/Equity

1.1 x

Debt/Assets

0.4 x

Financial Leverage

3 x
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Harris Operating Metrics

Harris's Backlog was reported to be $10.8b in FY, 2016.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018

Order Volume

$1.13 b$288 m$263 m$286 m$1.24 b$404 m$238 m$290 m$1.17 b$369 m$301 m$279 m$1.24 b$681 m$353 m$332 m

Bookings

$564 m$575 m$521 m$451 m$601 m$665 m$556 m$511 m$472 m$530 m$555 m$507 m$494 m$879 m$884 m$880 m

Backlog Funded

$3 b$5.30 b$5.10 b$4.20 b

Backlog

$7.20 b$12.20 b$10.80 b

Countries

125 125 100 100

Engineers And Scientists

6 k9.20 k9 k7.70 k

Patent Applications

1 k1.40 k800 550

Patents (Foreign)

1.07 k1.89 k1.70 k1.24 k

Patents (US)

1.10 k1.87 k1.90 k1.80 k

Patents Pending (Foreign)

640 1.04 k600 390

Patents Pending (US)

340 360 200 160
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Harris Employee Rating

3.41691 votes
Culture & Values
3.4
Work/Life Balance
3.6
Senior Management
2.9
Salary & Benefits
3.3
Career Opportunities
3.3
Source