Is L3Harris Technologies, Inc. overvalued or undervalued?

As of 17 October 2025, L3Harris Technologies, Inc. has moved from an attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 27, an EV to EBITDA of 16.55, and a Price to Book Value of 2.39, which suggest that while the company is performing adequately, it does not present a significant discount compared to its peers.
In comparison to its industry peers, L3Harris has a P/E ratio that is lower than RTX Corp. at 37.08 but higher than Lockheed Martin Corp. at 25.66. Additionally, its EV to EBITDA ratio is more favorable than RTX Corp.'s 22.55 but less favorable than Honeywell International's 22.85. Notably, over the past year, L3Harris has delivered a return of 14.33%, slightly outperforming the S&P 500's return of 14.08%, though it has lagged significantly over longer periods, such as the 3-year and 5-year returns.