L3HARRIS TECHNOLOGIES, INC. vs NORTHROP GRUMMAN CORP /DE/, two Aerospace & Defense stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
L3Harris supplies defense electronics and communications gear, a solid but lower-return corner of the sector: 8.8% on equity, a 4.48% net margin, moderate debt of 0.48, priced at 31.62 times earnings and 2.78 times book, a $54.8B cap. Northrop Grumman, the larger prime, runs ahead on nearly every line, 26.74% return on equity, 10.8% net margin, and it costs much less per dollar of profit, 15.67 times earnings against L3Harris's 31.62. Northrop's cash yield of 4.64% edges L3Harris too. L3Harris trades at a higher multiple for a thinner margin. Northrop is the cheaper, more profitable prime of the two.
Comparison updated 2026-07-11.
| Metric | LHX | NOC |
|---|---|---|
| Price | $290.81 | $539.53 |
| Market cap | $54.7B | $76.9B |
| Sector | Aerospace & Defense | Aerospace & Defense |
| Stage | Mature | Mature |
| Implied growth (priced in) | -2.0% | +2.9% |
| P/E | 31.6 | 16.9 |
| P/B | 2.78 | 4.49 |
| P/S | 1.41 | 1.81 |
| EV/EBITDA | 12.3 | 14.0 |
| Revenue growth | +6.0% | +4.9% |
| Operating margin | 11.3% | 10.0% |
| Net margin | 4.5% | 10.8% |
| Return on equity | 8.8% | 26.7% |
| Return on assets | 4.2% | 9.2% |
| Return on invested capital | 11.8% | 13.0% |
| FCF yield | 4.7% | 4.3% |
| Dividend yield | 1.6% | 1.7% |
| Debt / equity | 0.48 | 0.89 |
| Current ratio | 1.03 | 1.15 |
| Altman Z (solvency) | 2.66 | 2.84 |
| Piotroski F (quality) | 4 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.