Elbit Sys Ltd Financials

ESLT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Elbit Sys Ltd (ESLT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 49/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Elbit Sys Ltd has an operating margin of 7.2%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is up from 6.2% the prior year.

Growth

Elbit Sys Ltd's revenue grew 14.3% year-over-year to $6.8B, a solid pace of expansion. This earns a growth score of 69/100.

Leverage

100

Elbit Sys Ltd carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Elbit Sys Ltd's current ratio of 1.20 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 28/100, which could limit financial flexibility.

Cash Flow

Elbit Sys Ltd's free cash flow margin of 4.7% results in a low score of 23/100. Capital expenditures of $215.1M absorb a large share of operating cash flow.

Returns

Elbit Sys Ltd's ROE of 9.8% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 7.3% the prior year.

Altman Z-Score Safe

3.68

Elbit Sys Ltd scores 3.68, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($31.4B) relative to total liabilities ($7.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong

7/9

Elbit Sys Ltd passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.66x

For every $1 of reported earnings, Elbit Sys Ltd generates $1.66 in operating cash flow ($534.6M OCF vs $321.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.1x

Elbit Sys Ltd earns $3.1 in operating income for every $1 of interest expense ($489.1M vs $156.2M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Revenue

$6.8B

YoY+14.3%

5Y CAGR+8.7%

10Y CAGR+8.7%

Elbit Sys Ltd generated $6.8B in revenue in fiscal year 2024. This represents an increase of 14.3% from the prior year.

EBITDA

$647.4M

YoY+21.3%

5Y CAGR+7.1%

10Y CAGR+5.8%

Elbit Sys Ltd's EBITDA was $647.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.3% from the prior year.

Free Cash Flow

$319.6M

YoY+535.8%

10Y CAGR+11.6%

Elbit Sys Ltd generated $319.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 535.8% from the prior year.

Net Income

$321.1M

YoY+49.3%

5Y CAGR+7.1%

10Y CAGR+6.5%

Elbit Sys Ltd reported $321.1M in net income in fiscal year 2024. This represents an increase of 49.3% from the prior year.

EPS (Diluted)

$7.18

YoY+49.0%

5Y CAGR+6.7%

10Y CAGR+6.0%

Elbit Sys Ltd earned $7.18 per diluted share (EPS) in fiscal year 2024. This represents an increase of 49.0% from the prior year.

Cash & Debt

$265.4M

YoY+34.4%

5Y CAGR+3.7%

10Y CAGR+2.8%

Elbit Sys Ltd held $265.4M in cash against $27.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

45M

YoY+0.5%

5Y CAGR+0.2%

10Y CAGR+0.4%

Elbit Sys Ltd had 45M shares outstanding in fiscal year 2024. This represents an increase of 0.5% from the prior year.

Gross Margin

24.1%

YoY-0.8pp

5Y CAGR-1.2pp

10Y CAGR-3.8pp

Elbit Sys Ltd's gross margin was 24.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Operating Margin

7.2%

YoY+1.0pp

5Y CAGR+0.0pp

10Y CAGR-1.2pp

Elbit Sys Ltd's operating margin was 7.2% in fiscal year 2024, reflecting core business profitability. This is up 1.0 percentage points from the prior year.

Net Margin

4.7%

YoY+1.1pp

5Y CAGR-0.4pp

10Y CAGR-1.1pp

Elbit Sys Ltd's net profit margin was 4.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.1 percentage points from the prior year.

Return on Equity

9.8%

YoY+2.5pp

5Y CAGR-0.8pp

10Y CAGR-4.1pp

Elbit Sys Ltd's ROE was 9.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the prior year.

R&D Spending

$544.1M

YoY+8.3%

5Y CAGR+8.1%

10Y CAGR+7.4%

Elbit Sys Ltd invested $544.1M in research and development in fiscal year 2024. This represents an increase of 8.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$215.1M

YoY+15.0%

5Y CAGR+9.3%

10Y CAGR+11.7%

Elbit Sys Ltd invested $215.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 15.0% from the prior year.

ESLT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$6.8B+14.3%	$6.0B+8.4%	$5.5B+4.4%	$5.3B+13.2%	$4.7B+3.4%	$4.5B
Cost of Revenue	$5.2B+15.5%	$4.5B+8.5%	$4.1B+5.6%	$3.9B+12.1%	$3.5B+3.7%	$3.4B
Gross Profit	$1.6B+10.7%	$1.5B+8.0%	$1.4B+1.1%	$1.4B+16.6%	$1.2B+2.5%	$1.1B
R&D Expenses	$544.1M+8.3%	$502.7M+0.2%	$501.8M+12.0%	$447.9M+4.6%	$428.2M+16.2%	$368.7M
SG&A Expenses	$311.0M-5.8%	$330.3M+5.5%	$313.0M+17.1%	$267.4M+19.4%	$223.9M+4.3%	$214.7M
Operating Income	$489.1M+32.5%	$369.1M+0.4%	$367.5M-12.2%	$418.5M+28.5%	$325.7M+1.3%	$321.6M
Interest Expense	$156.2M+8.6%	$143.9M+164.5%	$54.4M+28.7%	$42.3M-43.2%	$74.4M+1.8%	$73.0M
Income Tax	$39.1M+70.5%	$22.9M-5.0%	$24.1M-81.6%	$131.4M+260.5%	$36.4M+87.7%	$19.4M
Net Income	$321.1M+49.3%	$215.1M-21.9%	$275.4M+0.4%	$274.4M+15.4%	$237.7M+4.3%	$227.9M
EPS (Diluted)	$7.18+49.0%	$4.82-22.0%	$6.18-0.3%	$6.20+15.2%	$5.38+3.5%	$5.20

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ESLT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$11.0B+12.6%	$9.7B+5.7%	$9.2B-1.1%	$9.3B+15.6%	$8.1B+9.9%	$7.3B
Current Assets	$6.4B+15.4%	$5.5B+9.5%	$5.0B+1.0%	$5.0B+16.5%	$4.3B+16.4%	$3.7B
Cash & Equivalents	$265.4M+34.4%	$197.4M-6.5%	$211.1M-18.5%	$259.0M-7.1%	$278.8M+26.1%	$221.1M
Inventory	$2.8B+20.7%	$2.3B+18.1%	$1.9B+16.5%	$1.7B+26.9%	$1.3B+7.9%	$1.2B
Accounts Receivable	$2.9B+8.3%	$2.7B+5.5%	$2.6B-7.1%	$2.8B+9.9%	$2.5B+21.8%	$2.1B
Goodwill	$1.5B-0.6%	$1.5B-0.2%	$1.5B-3.1%	$1.6B+17.8%	$1.3B-1.8%	$1.3B
Total Liabilities	$7.7B+13.3%	$6.8B+5.1%	$6.5B-4.8%	$6.8B+16.2%	$5.8B+12.4%	$5.2B
Current Liabilities	$5.3B+10.1%	$4.8B+12.8%	$4.3B+6.3%	$4.0B+11.1%	$3.6B+14.2%	$3.2B
Long-Term Debt	$27.4M-33.6%	$41.2M-84.4%	$264.5M-25.8%	$356.6M-12.8%	$408.8M-7.1%	$440.1M
Total Equity	$3.3B+11.2%	$2.9B+7.0%	$2.8B+8.8%	$2.5B+14.1%	$2.2B+3.6%	$2.1B
Retained Earnings	$2.7B+9.3%	$2.5B+5.3%	$2.4B+8.5%	$2.2B+9.7%	$2.0B+7.5%	$1.9B

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Total Assets	$11.0B+12.6%	$9.7B+5.7%	$9.2B-1.1%	$9.3B+15.6%	$8.1B+9.9%	$7.3B+13.7%	$6.5B+36.8%	$4.7B
Current Assets	$6.4B+15.4%	$5.5B+9.5%	$5.0B+1.0%	$5.0B+16.5%	$4.3B+16.4%	$3.7B+12.0%	$3.3B+25.6%	$2.6B
Cash & Equivalents	$265.4M+34.4%	$197.4M-6.5%	$211.1M-18.5%	$259.0M-7.1%	$278.8M+26.1%	$221.1M+6.0%	$208.5M+33.6%	$156.1M
Inventory	$2.8B+20.7%	$2.3B+18.1%	$1.9B+16.5%	$1.7B+26.9%	$1.3B+7.9%	$1.2B+6.8%	$1.1B+26.5%	$903.0M
Accounts Receivable	$2.9B+8.3%	$2.7B+5.5%	$2.6B-7.1%	$2.8B+9.9%	$2.5B+21.8%	$2.1B+20.7%	$1.7B+21.8%	$1.4B
Goodwill	$1.5B-0.6%	$1.5B-0.2%	$1.5B-3.1%	$1.6B+17.8%	$1.3B-1.8%	$1.3B+31.1%	$1.0B+58.1%	$646.7M
Total Liabilities	$7.7B+13.3%	$6.8B+5.1%	$6.5B-4.8%	$6.8B+16.2%	$5.8B+12.4%	$5.2B+12.5%	$4.6B+53.6%	$3.0B
Current Liabilities	$5.3B+10.1%	$4.8B+12.8%	$4.3B+6.3%	$4.0B+11.1%	$3.6B+14.2%	$3.2B+9.0%	$2.9B+39.3%	$2.1B
Long-Term Debt	$27.4M-33.6%	$41.2M-84.4%	$264.5M-25.8%	$356.6M-12.8%	$408.8M-7.1%	$440.1M-5.9%	$467.6M+291.3%	$119.5M
Total Equity	$3.3B+11.2%	$2.9B+7.0%	$2.8B+8.8%	$2.5B+14.1%	$2.2B+3.6%	$2.1B+16.9%	$1.8B+7.3%	$1.7B
Retained Earnings	$2.7B+9.3%	$2.5B+5.3%	$2.4B+8.5%	$2.2B+9.7%	$2.0B+7.5%	$1.9B+10.1%	$1.7B+8.3%	$1.6B

ESLT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$534.6M+370.2%	$113.7M-52.6%	$240.1M-42.4%	$416.9M+49.5%	$278.8M+623.0%	-$53.3M
Capital Expenditures	$215.1M+15.0%	$187.0M-8.8%	$205.1M+8.7%	$188.6M+42.7%	$132.2M-3.9%	$137.6M
Free Cash Flow	$319.6M+535.8%	-$73.3M-309.8%	$35.0M-84.7%	$228.3M+55.7%	$146.6M+176.8%	-$190.9M
Investing Cash Flow	-$178.8M+15.1%	-$210.6M-38.6%	-$152.0M+74.1%	-$587.7M-2470.2%	-$22.9M+78.6%	-$106.8M
Financing Cash Flow	-$287.9M-445.9%	$83.2M+161.2%	-$136.0M-190.1%	$151.0M+176.2%	-$198.2M-214.8%	$172.7M
Dividends Paid	$89.0M-0.3%	$89.2M+2.8%	$86.8M+9.6%	$79.2M+1.3%	$78.2M+25.0%	$62.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ESLT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	24.1%-0.8pp	24.8%-0.1pp	24.9%-0.8pp	25.7%+0.7pp	25.0%-0.2pp	25.2%
Operating Margin	7.2%+1.0pp	6.2%-0.5pp	6.7%-1.3pp	7.9%+0.9pp	7.0%-0.1pp	7.1%
Net Margin	4.7%+1.1pp	3.6%-1.4pp	5.0%-0.2pp	5.2%+0.1pp	5.1%+0.0pp	5.1%
Return on Equity	9.8%+2.5pp	7.3%-2.7pp	10.0%-0.8pp	10.8%+0.1pp	10.7%+0.1pp	10.6%
Return on Assets	2.9%+0.7pp	2.2%-0.8pp	3.0%+0.1pp	2.9%0.0pp	2.9%-0.2pp	3.1%
Current Ratio	1.20+0.1	1.14-0.0	1.18-0.1	1.24+0.1	1.18+0.0	1.16
Debt-to-Equity	0.010.0	0.01-0.1	0.10-0.0	0.14-0.0	0.18-0.0	0.21
FCF Margin	4.7%+5.9pp	-1.2%-1.9pp	0.6%-3.7pp	4.3%+1.2pp	3.1%+7.4pp	-4.2%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.20+0.1	1.14-0.0	1.18-0.1	1.24+0.1	1.18+0.0	1.16+0.0	1.13-0.1	1.25
Debt-to-Equity	0.010.0	0.01-0.1	0.10-0.0	0.14-0.0	0.18-0.0	0.21-0.0	0.26+0.2	0.07
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Elbit Sys Ltd's annual revenue?

Elbit Sys Ltd (ESLT) reported $6.8B in total revenue for fiscal year 2024. This represents a 14.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Elbit Sys Ltd's revenue growing?

Elbit Sys Ltd (ESLT) revenue grew by 14.3% year-over-year, from $6.0B to $6.8B in fiscal year 2024.

Is Elbit Sys Ltd profitable?

Yes, Elbit Sys Ltd (ESLT) reported a net income of $321.1M in fiscal year 2024, with a net profit margin of 4.7%.

What is Elbit Sys Ltd's earnings per share (EPS)?

Elbit Sys Ltd (ESLT) reported diluted earnings per share of $7.18 for fiscal year 2024. This represents a 49.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Elbit Sys Ltd's EBITDA?

Elbit Sys Ltd (ESLT) had EBITDA of $647.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Elbit Sys Ltd have?

As of fiscal year 2024, Elbit Sys Ltd (ESLT) had $265.4M in cash and equivalents against $27.4M in long-term debt.

What is Elbit Sys Ltd's gross margin?

Elbit Sys Ltd (ESLT) had a gross margin of 24.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Elbit Sys Ltd's operating margin?

Elbit Sys Ltd (ESLT) had an operating margin of 7.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Elbit Sys Ltd's net profit margin?

Elbit Sys Ltd (ESLT) had a net profit margin of 4.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Elbit Sys Ltd's return on equity (ROE)?

Elbit Sys Ltd (ESLT) has a return on equity of 9.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Elbit Sys Ltd's free cash flow?

Elbit Sys Ltd (ESLT) generated $319.6M in free cash flow during fiscal year 2024. This represents a 535.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Elbit Sys Ltd's operating cash flow?

Elbit Sys Ltd (ESLT) generated $534.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Elbit Sys Ltd's total assets?

Elbit Sys Ltd (ESLT) had $11.0B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Elbit Sys Ltd's capital expenditures?

Elbit Sys Ltd (ESLT) invested $215.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Elbit Sys Ltd spend on research and development?

Elbit Sys Ltd (ESLT) invested $544.1M in research and development during fiscal year 2024.

How many shares does Elbit Sys Ltd have outstanding?

Elbit Sys Ltd (ESLT) had 45M shares outstanding as of fiscal year 2024.

What is Elbit Sys Ltd's current ratio?

Elbit Sys Ltd (ESLT) had a current ratio of 1.20 as of fiscal year 2024, which is considered adequate.

What is Elbit Sys Ltd's debt-to-equity ratio?

Elbit Sys Ltd (ESLT) had a debt-to-equity ratio of 0.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Elbit Sys Ltd's return on assets (ROA)?

Elbit Sys Ltd (ESLT) had a return on assets of 2.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Elbit Sys Ltd's Altman Z-Score?

Elbit Sys Ltd (ESLT) has an Altman Z-Score of 3.68, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Elbit Sys Ltd's Piotroski F-Score?

Elbit Sys Ltd (ESLT) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Elbit Sys Ltd's earnings high quality?

Elbit Sys Ltd (ESLT) has an earnings quality ratio of 1.66x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Elbit Sys Ltd cover its interest payments?

Elbit Sys Ltd (ESLT) has an interest coverage ratio of 3.1x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Elbit Sys Ltd?

Elbit Sys Ltd (ESLT) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.