Is L3Harris Technologies, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for L3Harris Technologies, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 27, an EV to EBITDA ratio of 16.55, and a Price to Book Value of 2.39. When compared to peers, RTX Corp. has a higher P/E of 37.08, while Lockheed Martin Corp. shows a lower P/E of 25.66, suggesting that L3Harris is positioned reasonably within its industry.
In terms of recent performance, L3Harris has delivered a year-to-date return of 35.00%, significantly outperforming the S&P 500's 13.30% over the same period, although it lags behind the index over longer time frames, such as the 3-year and 5-year returns. This performance context reinforces the notion that the stock is fairly valued given its recent returns relative to the broader market.