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ELBIT SYSTEMS LTD (ESLT) Stock Fundamental Analysis

NASDAQ:ESLT - Nasdaq - IL0010811243 - Common Stock - Currency: USD

378.93  +2.4 (+0.64%)

After market: 387.25 +8.32 (+2.2%)

Fundamental Rating

5

ESLT gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 64 industry peers in the Aerospace & Defense industry. ESLT has an average financial health and profitability rating. ESLT is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

ESLT had positive earnings in the past year.
ESLT had a positive operating cash flow in the past year.
In the past 5 years ESLT has always been profitable.
In the past 5 years ESLT always reported a positive cash flow from operatings.
ESLT Yearly Net Income VS EBIT VS OCF VS FCFESLT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M

1.2 Ratios

ESLT has a Return On Assets (2.93%) which is comparable to the rest of the industry.
The Return On Equity of ESLT (9.80%) is better than 65.63% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.14%, ESLT is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for ESLT is in line with the industry average of 7.94%.
The 3 year average ROIC (6.54%) for ESLT is below the current ROIC(7.14%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.93%
ROE 9.8%
ROIC 7.14%
ROA(3y)2.71%
ROA(5y)2.73%
ROE(3y)9.03%
ROE(5y)9.45%
ROIC(3y)6.54%
ROIC(5y)6.55%
ESLT Yearly ROA, ROE, ROICESLT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of ESLT (4.70%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of ESLT has remained more or less at the same level.
ESLT has a Operating Margin (7.16%) which is comparable to the rest of the industry.
ESLT's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 24.05%, ESLT perfoms like the industry average, outperforming 45.31% of the companies in the same industry.
ESLT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.16%
PM (TTM) 4.7%
GM 24.05%
OM growth 3Y-3.33%
OM growth 5Y0.08%
PM growth 3Y1.23%
PM growth 5Y-1.43%
GM growth 3Y-2.23%
GM growth 5Y-0.94%
ESLT Yearly Profit, Operating, Gross MarginsESLT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ESLT is destroying value.
Compared to 1 year ago, ESLT has more shares outstanding
Compared to 5 years ago, ESLT has more shares outstanding
Compared to 1 year ago, ESLT has an improved debt to assets ratio.
ESLT Yearly Shares OutstandingESLT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
ESLT Yearly Total Debt VS Total AssetsESLT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

The Debt to FCF ratio of ESLT is 2.60, which is a good value as it means it would take ESLT, 2.60 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 2.60, ESLT belongs to the best of the industry, outperforming 93.75% of the companies in the same industry.
ESLT has a Debt/Equity ratio of 0.23. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.23, ESLT is in the better half of the industry, outperforming 71.88% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 2.6
Altman-Z N/A
ROIC/WACC0.77
WACC9.25%
ESLT Yearly LT Debt VS Equity VS FCFESLT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

A Current Ratio of 1.20 indicates that ESLT should not have too much problems paying its short term obligations.
The Current ratio of ESLT (1.20) is worse than 78.13% of its industry peers.
A Quick Ratio of 0.67 indicates that ESLT may have some problems paying its short term obligations.
ESLT has a Quick ratio of 0.67. This is amonst the worse of the industry: ESLT underperforms 85.94% of its industry peers.
Industry RankSector Rank
Current Ratio 1.2
Quick Ratio 0.67
ESLT Yearly Current Assets VS Current LiabilitesESLT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 44.46% over the past year.
The Earnings Per Share has been growing slightly by 6.67% on average over the past years.
Looking at the last year, ESLT shows a quite strong growth in Revenue. The Revenue has grown by 14.28% in the last year.
ESLT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.66% yearly.
EPS 1Y (TTM)44.46%
EPS 3Y1.86%
EPS 5Y6.67%
EPS Q2Q%41.99%
Revenue 1Y (TTM)14.28%
Revenue growth 3Y8.96%
Revenue growth 5Y8.66%
Sales Q2Q%22%

3.2 Future

The Earnings Per Share is expected to grow by 13.78% on average over the next years. This is quite good.
ESLT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.07% yearly.
EPS Next Y20.16%
EPS Next 2Y20.96%
EPS Next 3Y13.78%
EPS Next 5YN/A
Revenue Next Year13.88%
Revenue Next 2Y12.08%
Revenue Next 3Y9.07%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ESLT Yearly Revenue VS EstimatesESLT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B
ESLT Yearly EPS VS EstimatesESLT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

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3

4. Valuation

4.1 Price/Earnings Ratio

ESLT is valuated quite expensively with a Price/Earnings ratio of 39.80.
ESLT's Price/Earnings is on the same level as the industry average.
ESLT is valuated expensively when we compare the Price/Earnings ratio to 25.82, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 29.57, which means the current valuation is very expensive for ESLT.
Based on the Price/Forward Earnings ratio, ESLT is valued a bit cheaper than 62.50% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.76, ESLT is valued a bit more expensive.
Industry RankSector Rank
PE 39.8
Fwd PE 29.57
ESLT Price Earnings VS Forward Price EarningsESLT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

ESLT's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, ESLT is valued a bit cheaper than the industry average as 65.63% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 52.91
EV/EBITDA 26.12
ESLT Per share dataESLT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ESLT does not grow enough to justify the current Price/Earnings ratio.
ESLT has a very decent profitability rating, which may justify a higher PE ratio.
ESLT's earnings are expected to grow with 13.78% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.97
PEG (5Y)5.96
EPS Next 2Y20.96%
EPS Next 3Y13.78%

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5

5. Dividend

5.1 Amount

ESLT has a yearly dividend return of 0.54%, which is pretty low.
Compared to an average industry Dividend Yield of 1.34, ESLT pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, ESLT's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.54%

5.2 History

The dividend of ESLT has a limited annual growth rate of 2.56%.
ESLT has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)2.56%
Div Incr Years0
Div Non Decr Years0
ESLT Yearly Dividends per shareESLT Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

27.70% of the earnings are spent on dividend by ESLT. This is a low number and sustainable payout ratio.
The dividend of ESLT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP27.7%
EPS Next 2Y20.96%
EPS Next 3Y13.78%
ESLT Yearly Income VS Free CF VS DividendESLT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M 300M
ESLT Dividend Payout.ESLT Dividend Payout, showing the Payout Ratio.ESLT Dividend Payout.PayoutRetained Earnings

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ELBIT SYSTEMS LTD

NASDAQ:ESLT (5/23/2025, 9:30:34 PM)

After market: 387.25 +8.32 (+2.2%)

378.93

+2.4 (+0.64%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)05-20 2025-05-20/bmo
Earnings (Next)08-12 2025-08-12
Inst Owners19.98%
Inst Owner Change3.99%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap16.91B
Analysts44
Price Target0.85 (-99.78%)
Short Float %0.45%
Short Ratio1.15
Dividend
Industry RankSector Rank
Dividend Yield 0.54%
Yearly Dividend2
Dividend Growth(5Y)2.56%
DP27.7%
Div Incr Years0
Div Non Decr Years0
Ex-Date04-22 2025-04-22 (0.6)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)25.11%
Min EPS beat(2)16.49%
Max EPS beat(2)33.74%
EPS beat(4)4
Avg EPS beat(4)24.22%
Min EPS beat(4)15.21%
Max EPS beat(4)33.74%
EPS beat(8)6
Avg EPS beat(8)12.49%
EPS beat(12)6
Avg EPS beat(12)-0.92%
EPS beat(16)9
Avg EPS beat(16)3.64%
Revenue beat(2)2
Avg Revenue beat(2)5.51%
Min Revenue beat(2)4.73%
Max Revenue beat(2)6.29%
Revenue beat(4)4
Avg Revenue beat(4)4.12%
Min Revenue beat(4)1.32%
Max Revenue beat(4)6.29%
Revenue beat(8)7
Avg Revenue beat(8)3.2%
Revenue beat(12)8
Avg Revenue beat(12)2.02%
Revenue beat(16)11
Avg Revenue beat(16)2.55%
PT rev (1m)1.34%
PT rev (3m)15.19%
EPS NQ rev (1m)11.65%
EPS NQ rev (3m)20.42%
EPS NY rev (1m)0%
EPS NY rev (3m)4.82%
Revenue NQ rev (1m)0.29%
Revenue NQ rev (3m)-0.35%
Revenue NY rev (1m)2.07%
Revenue NY rev (3m)2.07%
Valuation
Industry RankSector Rank
PE 39.8
Fwd PE 29.57
P/S 2.48
P/FCF 52.91
P/OCF 31.63
P/B 5.16
P/tB 11.81
EV/EBITDA 26.12
EPS(TTM)9.52
EY2.51%
EPS(NY)12.82
Fwd EY3.38%
FCF(TTM)7.16
FCFY1.89%
OCF(TTM)11.98
OCFY3.16%
SpS153.02
BVpS73.45
TBVpS32.1
PEG (NY)1.97
PEG (5Y)5.96
Profitability
Industry RankSector Rank
ROA 2.93%
ROE 9.8%
ROCE 8.64%
ROIC 7.14%
ROICexc 7.47%
ROICexgc 10.91%
OM 7.16%
PM (TTM) 4.7%
GM 24.05%
FCFM 4.68%
ROA(3y)2.71%
ROA(5y)2.73%
ROE(3y)9.03%
ROE(5y)9.45%
ROIC(3y)6.54%
ROIC(5y)6.55%
ROICexc(3y)6.82%
ROICexc(5y)6.87%
ROICexgc(3y)10.63%
ROICexgc(5y)9.77%
ROCE(3y)7.86%
ROCE(5y)7.77%
ROICexcg growth 3Y6.01%
ROICexcg growth 5Y-0.92%
ROICexc growth 3Y0.39%
ROICexc growth 5Y1.53%
OM growth 3Y-3.33%
OM growth 5Y0.08%
PM growth 3Y1.23%
PM growth 5Y-1.43%
GM growth 3Y-2.23%
GM growth 5Y-0.94%
F-Score7
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 2.6
Debt/EBITDA 1.17
Cap/Depr 135.77%
Cap/Sales 3.15%
Interest Coverage 6.41
Cash Conversion 82.57%
Profit Quality 99.51%
Current Ratio 1.2
Quick Ratio 0.67
Altman-Z N/A
F-Score7
WACC9.25%
ROIC/WACC0.77
Cap/Depr(3y)125.48%
Cap/Depr(5y)118.24%
Cap/Sales(3y)3.33%
Cap/Sales(5y)3.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)44.46%
EPS 3Y1.86%
EPS 5Y6.67%
EPS Q2Q%41.99%
EPS Next Y20.16%
EPS Next 2Y20.96%
EPS Next 3Y13.78%
EPS Next 5YN/A
Revenue 1Y (TTM)14.28%
Revenue growth 3Y8.96%
Revenue growth 5Y8.66%
Sales Q2Q%22%
Revenue Next Year13.88%
Revenue Next 2Y12.08%
Revenue Next 3Y9.07%
Revenue Next 5YN/A
EBIT growth 1Y32.5%
EBIT growth 3Y5.33%
EBIT growth 5Y8.74%
EBIT Next Year41.15%
EBIT Next 3Y19.62%
EBIT Next 5YN/A
FCF growth 1Y535.79%
FCF growth 3Y11.86%
FCF growth 5YN/A
OCF growth 1Y370.16%
OCF growth 3Y8.64%
OCF growth 5YN/A