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Elbit Systems Ltd.

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Elbit Systems Ltd. • NASDAQ
$469.79 ▲ 0.03% (+0.12)
Market Cap $21.79 B
52w High $529.99
52w Low $243.51
Dividend Yield 3.00%
P/E 47.6
Volume 19.94K
Outstanding Shares 46.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.95B ▼ $311.273M ▼ $135.337M ▲ 6.942% ▲ $2.92 ▲ $219.51M ▲
Q2-2025 $2.087B ▲ $333.372M ▲ $132.99M ▲ 6.372% ▲ $2.76 ▲ $211.446M ▲
Q1-2025 $1.838B ▼ $295.315M ▼ $103.819M ▲ 5.648% ▲ $2.4 ▲ $190.538M ▲
Q4-2024 $1.961B ▲ $328.996M ▲ $91.436M ▲ 4.662% ▲ $2.02 ▲ $179.015M ▲
Q3-2024 $1.709B $285.536M $78.709M 4.606% $1.78 $170.973M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $733.323M ▼ $12.241B ▲ $8.235B ▲ $4.001B ▲
Q2-2025 $848.911M ▲ $12.097B ▲ $8.151B ▲ $3.942B ▲
Q1-2025 $455.137M ▲ $11.355B ▲ $8.047B ▲ $3.304B ▲
Q4-2024 $266.681M ▲ $10.972B ▲ $7.691B ▼ $3.278B ▲
Q3-2024 $123.368M $10.847B $7.774B $3.07B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $133.675M ▲ $157.078M ▲ $91.723M ▲ $-215.32M ▼ $33.481M ▲ $101.165M ▲
Q2-2025 $126.024M ▲ $120.395M ▼ $-448.015M ▼ $323.052M ▲ $-4.568M ▲ $70.591M ▼
Q1-2025 $107.368M ▲ $183.575M ▼ $-362.343M ▼ $27.097M ▲ $-151.671M ▼ $160.905M ▼
Q4-2024 $90.221M ▲ $452.071M ▲ $-45.203M ▼ $-260.716M ▼ $146.152M ▲ $404.022M ▲
Q3-2024 $79.313M $56.542M $-20.711M $-37.294M $-1.463M $5.068M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last five years, with a clear step up in the most recent year. Profitability has also improved: operating and EBITDA profits are trending upward, and net income rebounded strongly after a softer year in the middle of the period. Margins are not exceptional for the defense sector but are moving in the right direction, suggesting better execution, scale benefits, or a more profitable mix of programs. Overall, the income statement shows a mature defense contractor that is growing at a healthy pace while gradually lifting its earnings quality.

Balance Sheet

Balance Sheet The balance sheet has expanded over time, with total assets and shareholders’ equity both rising consistently. This signals ongoing reinvestment in the business and accumulation of retained earnings. Debt is meaningful but not extreme and has not surged in a way that would suggest stress; leverage looks manageable for a company with long-term government contracts. Cash balances are relatively modest, which is common in project-based defense work, but it does mean the company relies more on ongoing cash generation and credit lines than on a large cash cushion. Overall, the financial structure appears solid but not overly conservative.

Cash Flow

Cash Flow Cash generation has been more uneven than the income statement. Operating cash flow has swung from relatively weak to quite strong, reflecting the timing of large contracts, milestone payments, and working capital needs. Free cash flow has been positive in most years but thin in at least one, as steady capital spending and inventory build-ups can temporarily consume cash. Capital expenditure is consistently maintained, showing a commitment to support facilities and technology. The pattern suggests a healthy but lumpy cash profile that is typical for defense contractors tied to long-cycle programs.

Competitive Edge

Competitive Edge Elbit holds a strong competitive position in multiple defense domains: unmanned systems, avionics, land systems, communications, and naval solutions. Its close relationship with the Israeli Defense Forces gives it a powerful testing ground and the “battle-proven” label, which is highly valued in export markets. The company’s ability to integrate many subsystems into complete solutions, along with its global footprint and partnerships, helps it compete against much larger global defense primes. Key risks come from reliance on government and export markets, exposure to geopolitical shifts, and intense competition for major programs, but its entrenched role and track record provide a meaningful moat.

Innovation and R&D

Innovation and R&D Innovation is a core strength. Elbit invests heavily in research and development across drones, advanced avionics, active protection for armored vehicles, networked communications, electro‑optics, and naval unmanned systems. It is also pushing into artificial intelligence, digital battlefield technologies, and potentially directed‑energy systems, all areas that could shape future defense demand. The company’s ability to customize solutions and integrate hardware with software and data capabilities differentiates it from more hardware‑only competitors. The flip side is that sustaining this edge requires ongoing high R&D spending and successful navigation of export controls and rapid technology cycles.

Summary

Elbit Systems presents the profile of a growing, innovation‑driven defense contractor with strengthening profits, a solid but not overly liquid balance sheet, and lumpy yet generally positive cash generation. Its multi-domain technology portfolio, deep integration skills, and close relationship with demanding reference customers give it a durable competitive edge in many niches of the global defense market. The main challenges revolve around the usual defense‑sector issues: dependence on government budgets, program and execution risk, geopolitical and regulatory uncertainty, and the need to keep investing heavily in new technologies. Overall, the business looks strategically well positioned, with financials that support continued investment but require attention to cash flow timing and leverage over the cycle.

NEWS

November 19, 2025 · 3:31 AM UTC

Elbit Systems Awarded Contracts in an Aggregate Amount of $210 Million from Israel Ministry of Defense for Tank Upgrades

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November 18, 2025 · 3:54 AM UTC

ELBIT SYSTEMS REPORTS THIRD QUARTER 2025 RESULTS

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November 17, 2025 · 2:44 AM UTC

Elbit Systems Signs a $2.3 Billion International Contract

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October 30, 2025 · 4:34 AM UTC

Elbit Systems Announces the Results of its Annual General Meeting of Shareholders Held on October 29, 2025

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October 27, 2025 · 4:06 AM UTC

Elbit Systems to Report Third Quarter 2025 Financial Results on November 18, 2025

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