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L3 Technologies

DB:L3H
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
L3H
DB
$19B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

L3 Technologies, Inc. provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. The last earnings update was 60 days ago. More info.


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L3H Share Price and Events
7 Day Returns
-5.3%
DB:L3H
0.5%
Europe Aerospace & Defense
0.7%
DE Market
1 Year Returns
30.2%
DB:L3H
9.4%
Europe Aerospace & Defense
-4.5%
DE Market
L3H Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
L3 Technologies (L3H) -5.3% -0.3% 17.7% 30.2% 63.5% 144.9%
Europe Aerospace & Defense 0.5% 8.5% 3.8% 9.4% 72.9% 94.5%
DE Market 0.7% 3.1% 2.9% -4.5% 13.4% 8.2%
1 Year Return vs Industry and Market
  • L3H outperformed the Aerospace & Defense industry which returned 9.4% over the past year.
  • L3H outperformed the Market in Germany which returned -4.5% over the past year.
Price Volatility
L3H
Industry
5yr Volatility vs Market

L3H Value

 Is L3 Technologies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of L3 Technologies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for L3 Technologies.

DB:L3H Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:L3H
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.882 (1 + (1- 21%) (20.48%))
1.017
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.017 * 5.96%)
6.29%

Discounted Cash Flow Calculation for DB:L3H using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for L3 Technologies is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:L3H DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.29%)
2019 1,080.33 Analyst x6 1,016.43
2020 1,169.80 Analyst x5 1,035.50
2021 1,261.90 Analyst x3 1,050.94
2022 1,344.70 Analyst x1 1,053.66
2023 1,399.60 Analyst x1 1,031.80
2024 1,439.78 Est @ 2.87% 998.63
2025 1,469.70 Est @ 2.08% 959.09
2026 1,492.09 Est @ 1.52% 916.09
2027 1,509.01 Est @ 1.13% 871.68
2028 1,522.03 Est @ 0.86% 827.19
Present value of next 10 years cash flows $9,761.01
DB:L3H DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,522.03 × (1 + 0.23%) ÷ (6.29% – 0.23%)
$25,175.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $25,175.84 ÷ (1 + 6.29%)10
$13,682.54
DB:L3H Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $9,761.01 + $13,682.54
$23,443.55
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $23,443.55 / 79.45
$295.07
DB:L3H Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:L3H represents 0.87796x of NYSE:LLL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87796x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 295.07 x 0.87796
€259.06
Value per share (EUR) From above. €259.06
Current discount Discount to share price of €215.25
= -1 x (€215.25 - €259.06) / €259.06
16.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price L3 Technologies is available for.
Intrinsic value
17%
Share price is €215.25 vs Future cash flow value of €259.06
Current Discount Checks
For L3 Technologies to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • L3 Technologies's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • L3 Technologies's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for L3 Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are L3 Technologies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:L3H PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-29) in USD $10.54
NYSE:LLL Share Price ** NYSE (2019-06-28) in USD $245.17
Europe Aerospace & Defense Industry PE Ratio Median Figure of 34 Publicly-Listed Aerospace & Defense Companies 22.15x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.95x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of L3 Technologies.

DB:L3H PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:LLL Share Price ÷ EPS (both in USD)

= 245.17 ÷ 10.54

23.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3 Technologies is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • L3 Technologies is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does L3 Technologies's expected growth come at a high price?
Raw Data
DB:L3H PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
7.5%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 29 Publicly-Listed Aerospace & Defense Companies 1.39x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:L3H PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.26x ÷ 7.5%

3.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3 Technologies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on L3 Technologies's assets?
Raw Data
DB:L3H PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-29) in USD $76.21
NYSE:LLL Share Price * NYSE (2019-06-28) in USD $245.17
Europe Aerospace & Defense Industry PB Ratio Median Figure of 46 Publicly-Listed Aerospace & Defense Companies 1.94x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.79x
DB:L3H PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:LLL Share Price ÷ Book Value per Share (both in USD)

= 245.17 ÷ 76.21

3.22x

* Primary Listing of L3 Technologies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3 Technologies is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess L3 Technologies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. L3 Technologies has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

L3H Future Performance

 How is L3 Technologies expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is L3 Technologies expected to grow at an attractive rate?
  • L3 Technologies's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • L3 Technologies's earnings growth is positive but not above the Germany market average.
  • L3 Technologies's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:L3H Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:L3H Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 7.5%
DB:L3H Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 4.5%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 15.5%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:L3H Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:L3H Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 12,938 1,633 1,217 1
2022-12-31 12,561 1,577 1,169 1
2021-12-31 12,087 1,492 1,104 5
2020-12-31 11,562 1,400 1,041 7
2019-12-31 10,956 1,319 936 7
DB:L3H Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-29 10,573 1,289 830
2018-12-31 10,244 1,032 800
2018-09-28 10,047 788 841
2018-06-29 9,821 938 782
2018-03-30 9,623 953 787
2017-12-31 9,573 1,102 753
2017-09-29 8,687 1,176 646
2017-06-30 8,899 1,072 651
2017-03-31 9,178 1,070 608
2016-12-31 9,210 1,041 619
2016-09-23 10,393 1,000 399
2016-06-24 10,452 1,107 376

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • L3 Technologies's earnings are expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
  • L3 Technologies's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:L3H Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from L3 Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:L3H Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 16.45 16.45 16.45 1.00
2022-12-31 15.45 15.45 15.45 1.00
2021-12-31 13.89 14.19 13.46 4.00
2020-12-31 12.91 13.50 12.38 6.00
2019-12-31 11.66 12.01 11.53 6.00
DB:L3H Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-29 10.54
2018-12-31 10.19
2018-09-28 10.74
2018-06-29 9.99
2018-03-30 10.07
2017-12-31 9.65
2017-09-29 8.30
2017-06-30 8.39
2017-03-31 7.86
2016-12-31 8.00
2016-09-23 5.14
2016-06-24 4.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • L3 Technologies is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess L3 Technologies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
L3 Technologies has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

L3H Past Performance

  How has L3 Technologies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare L3 Technologies's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • L3 Technologies's year on year earnings growth rate has been positive over the past 5 years.
  • L3 Technologies's 1-year earnings growth is less than its 5-year average (5.5% vs 7.2%)
  • L3 Technologies's earnings growth has not exceeded the Europe Aerospace & Defense industry average in the past year (5.5% vs 7.7%).
Earnings and Revenue History
L3 Technologies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from L3 Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:L3H Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-29 10,573.00 830.00 1,578.00
2018-12-31 10,244.00 800.00 1,589.00
2018-09-28 10,047.00 841.00 66.00
2018-06-29 9,821.00 782.00 63.00
2018-03-30 9,623.00 787.00 1,561.00
2017-12-31 9,573.00 753.00 1,525.00
2017-09-29 8,687.00 646.00 1,101.00
2017-06-30 8,899.00 651.00 717.00
2017-03-31 9,178.00 608.00 359.00
2016-12-31 9,210.00 619.00 1,286.00
2016-09-23 10,393.00 399.00
2016-06-24 10,452.00 376.00
2016-03-25 10,331.00 345.00
2015-12-31 9,231.00 492.00
2015-09-25 9,665.00 513.00
2015-06-26 10,041.00 542.00
2015-03-27 10,517.00 563.00
2014-12-31 10,986.00 632.00
2014-09-26 12,150.00 646.00
2014-06-27 12,212.00 692.00
2014-03-28 12,382.00 730.00
2013-12-31 11,420.00 707.00
2013-09-27 12,909.00 752.00
2013-06-28 13,190.00 745.00
2013-03-29 13,144.00 757.00
2012-12-31 13,107.00 752.00
2012-09-28 13,129.00 817.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • L3 Technologies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • L3 Technologies used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • L3 Technologies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess L3 Technologies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
L3 Technologies has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

L3H Health

 How is L3 Technologies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up L3 Technologies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • L3 Technologies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • L3 Technologies's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of L3 Technologies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from L3 Technologies Company Filings, last reported 3 months ago.

DB:L3H Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-29 6,118.00 3,346.00 1,108.00
2018-12-31 5,907.00 3,361.00 1,066.00
2018-09-28 5,711.00 3,358.00 507.00
2018-06-29 5,512.00 3,919.00 1,366.00
2018-03-30 5,320.00 3,349.00 374.00
2017-12-31 5,151.00 3,346.00 662.00
2017-09-29 5,069.00 3,345.00 439.00
2017-06-30 5,047.00 3,342.00 385.00
2017-03-31 4,802.00 3,340.00 230.00
2016-12-31 4,624.00 3,335.00 363.00
2016-09-23 4,640.00 3,342.00 411.00
2016-06-24 4,559.00 3,340.00 352.00
2016-03-25 4,451.00 3,636.00 534.00
2015-12-31 4,429.00 3,636.00 207.00
2015-09-25 4,659.00 3,949.00 323.00
2015-06-26 5,272.00 3,948.00 353.00
2015-03-27 5,302.00 3,945.00 317.00
2014-12-31 5,360.00 3,940.00 442.00
2014-09-26 5,979.00 3,956.00 508.00
2014-06-27 5,979.00 3,948.00 299.00
2014-03-28 6,135.00 3,643.00 227.00
2013-12-31 6,056.00 3,645.00 500.00
2013-09-27 5,830.00 3,647.00 377.00
2013-06-28 5,674.00 3,650.00 328.00
2013-03-29 5,588.00 3,651.00 276.00
2012-12-31 5,527.00 3,653.00 349.00
2012-09-28 5,842.00 3,905.00 514.00
  • L3 Technologies's level of debt (54.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (59.5% vs 54.7% today).
  • Debt is well covered by operating cash flow (38.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.8x coverage).
X
Financial health checks
We assess L3 Technologies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. L3 Technologies has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

L3H Dividends

 What is L3 Technologies's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.39%
Current annual income from L3 Technologies dividends. Estimated to be 1.54% next year.
If you bought €2,000 of L3 Technologies shares you are expected to receive €28 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • L3 Technologies's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.42%).
  • L3 Technologies's dividend is below the markets top 25% of dividend payers in Germany (3.84%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:L3H Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:L3H Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 4.20 1.00
2022-12-31 4.00 1.00
2021-12-31 4.13 6.00
2020-12-31 3.73 7.00
2019-12-31 3.46 8.00
DB:L3H Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-07 3.400 1.389
2019-02-12 3.400 1.603
2018-10-22 3.200 1.722
2018-07-10 3.200 1.525
2018-05-08 3.200 1.632
2018-02-12 3.200 1.557
2017-10-17 3.000 1.529
2017-07-19 3.000 1.643
2017-05-09 3.000 1.792
2017-02-13 3.000 1.787
2017-01-26 2.800 1.753
2016-06-21 2.800 1.873
2016-05-03 2.800 2.006
2016-02-09 2.800 2.331
2015-10-20 2.600 2.191
2015-06-10 2.600 2.313
2015-05-05 2.600 2.212
2015-02-10 2.600 2.069
2014-10-20 2.400 1.950
2014-06-24 2.400 2.118
2014-05-06 2.400 1.996
2014-02-11 2.400 2.073
2013-10-22 2.200 2.120
2013-06-19 2.200 2.400
2013-04-30 2.200 2.588
2013-02-05 2.200 2.775
2012-10-24 2.000 2.620
2012-06-26 2.000 2.802
2012-04-24 2.000 2.847
2012-02-07 2.000 2.862
2011-10-11 1.800 2.655
2011-07-12 1.800 2.632
2011-04-26 1.800 2.176
2011-02-08 1.800 2.281
2010-10-26 1.600 2.183
2010-07-13 1.600 2.251
2010-04-27 1.600 1.961
2010-02-02 1.600 1.741
2009-10-06 1.400 1.732
2009-07-15 1.400 1.848
2009-04-28 1.400 1.936
2009-02-05 1.400 2.025
2008-10-07 1.200 1.612
2008-07-08 1.200 1.216

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of L3 Technologies's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess L3 Technologies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can L3 Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. L3 Technologies has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

L3H Management

 What is the CEO of L3 Technologies's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Kubasik
COMPENSATION $25,511,433
AGE 57
TENURE AS CEO 1.4 years
CEO Bio

Mr. Christopher E. Kubasik, also known as Chris, CPA, has been the CEO of L-3 Communications Holdings, Inc. since January 1, 2018. Mr. Kubasik has been the President of L-3 Communications Nova Engineering, Inc., L-3 Communications Corporation and L-3 Communications Holdings Inc. since October 28, 2015. He has been Chief Executive Officer, President and Director of L3 Technologies, Inc. since January 2018. He has been Chairman of the Board of L3 Technologies, Inc. since May 7, 2018. He has been Chairman of the Board of L-3 Communications Corp. since May 2018. He has been Chief Operating Officer of L-3 Communications Nova Engineering, Inc., L-3 Communications Corporation and since October 28, 2015 He has been the Chairman and Director of Norsk Titanium AS since January 2016 and April 20, 2015, respectively. He has been a Director of Seabury Capital LLC since March 14, 2014. He has been a Director of Spirit AeroSystems, Inc. He has been a Director of Safariland, LLC (The Safariland Group) since December 2013, Seabury International Capital Holdings LLC since March 2014 and Maui Acquisition Corp. since December 5, 2013. He has been a Trustee of Marsico Investment Fund - Marsico Focus Fund since February 2006. He has been a Trustee at Marsico Investment Fund - Marsico International Opportunities Fund, Marsico Investment Fund - Marsico 21st Century Fund and The Marsico Investment Fund - Marsico Growth Fund since February 2006. He has been a Member of Board of Advisors at Seabury Group LLC since March 14, 2014. He serves as a Director of Lockheed Martin Investment Management Company and Lockheed Martin UK Limited. He serves on the Board of Trustees of The Marsico Investment Fund. He serves as the Vice Chairman of the Lockheed Martin Diversity Council. He serves as a Member of the Board of Governors at United Service Organizations Inc. He served as an Operating partner at Virgo Investment Group LLC until 2018. He served as Chief Operating Officer of L-3 Communications Holdings Inc. since October 28, 2015 until January 1, 2018. Mr. Kubasik served as the President and Chief Operating Officer of Seabury Group LLC since March 31, 2014. Mr. Kubasik joined L-3 from the Seabury Advisory Group where he served as President and Chief Executive Officer for the past two years. Prior to that, he served as a Senior Advisor of Lockheed Martin Space Systems Company since late 2012. He served as the President and Chief Operating Officer of Lockheed Martin Space Systems Co. He gained extensive experience serving a broad spectrum of government contracting and high technology companies. He served as the Chief Executive of Lockheed Martin Aeronautics Company until January 2013. He served as an Executive Vice President of Electronic Systems Business Area at Lockheed Martin UK Limited from September 2007 to 2009. He served as the President and Chief Operating Officer of Lockheed Martin Corporation from January 1, 2010 to November 9, 2012 and Chief Executive Officer from 2010 to 2012. He served as the Senior Vice President at Lockheed Martin from October 2001 to August 2004 and its Vice President until September 2001. He served as Executive Vice President of Electronic Systems at Lockheed Martin Corporation from September 2007 to January 2010. He served as Chief Financial Officer and Executive Vice President at Lockheed Martin Corporation from February 2001 to August 2007. He served as a Vice President and Controller at Lockheed Martin from November 1999 to August 2001. He has held various senior leadership roles at Lockheed Martin Corporation from 1999 to 2012. He joined Lockheed Martin in 1999. Prior to joining Lockheed Martin, he served at Ernst & Young LLP since 1983 until 1999, where he was a Partner since 1996. He served as a Non-Executive Vice Chairman and Director of Norsk Titanium AS since April 20, 2015 until January 2016. He served as Vice Chairman of Lockheed Martin Space Systems Co. He served as Vice Chairman of Lockheed Martin Corporation from June 28, 2012 to November 2012. He served as a Director of Lockheed Martin Space Systems Co. He served as an Independent Director of Spirit AeroSystems Holdings, Inc. since November 25, 2013 until April 20, 2016. He served as a Director of International Paper Company from July 2012 to November 2012 and Lockheed Martin Corporation since June 28, 2012. He served as a Member of Executive Office of the Chairman of Lockheed Martin Corporation from October 3, 2011 to November 9, 2012. Mr. Kubasik is a Certified Public Accountant. In 1997, he attended the Executive Program at Northwestern University’s Kellogg School of Business. In 2004, he completed the Systems Acquisition Management Course for Flag Officers at the Defense Acquisition University, Fort Belvoir. In 2008, he received an Executive Engineering Certificate from Carnegie Mellon in 2008. He earned his Bachelor's degree (Magna Cum Laude) in Accounting from the University of Maryland’s School of Business in 1983.

CEO Compensation
  • Chris's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Chris's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the L3 Technologies management team in years:

2.3
Average Tenure
54
Average Age
  • The tenure for the L3 Technologies management team is about average.
Management Team

Chris Kubasik

TITLE
Chairman
COMPENSATION
$26M
AGE
57
TENURE
1.4 yrs

Ralph D'Ambrosio

TITLE
Senior VP & CFO
COMPENSATION
$5M
AGE
50
TENURE
12.4 yrs

Ann Davidson

TITLE
Senior VP
COMPENSATION
$3M
AGE
66
TENURE
2.8 yrs

Todd Gautier

TITLE
SVP & President of Electronic Systems Segment
COMPENSATION
$3M
AGE
54
TENURE
2.3 yrs

Jeffrey Miller

TITLE
SVP & President of ISR Systems Segment
COMPENSATION
$4M
AGE
54
TENURE
2.3 yrs

Dan Azmon

TITLE
VP, Corporate Controller & Principal Accounting Officer
AGE
54
TENURE
11.2 yrs

Heidi Wood

TITLE
Senior Vice President of Corporate Strategy & Technology
AGE
52

Sheila Sheridan

TITLE
Vice President of Administration
TENURE
14.3 yrs

John Kim

TITLE
VP of Investor & Analytics
TENURE
1.1 yrs

Melanie Heitkamp

TITLE
Senior VP & Chief Human Resources Officer
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the L3 Technologies board of directors in years:

7.5
Average Tenure
69
Average Age
  • The tenure for the L3 Technologies board of directors is about average.
Board of Directors

Chris Kubasik

TITLE
Chairman
COMPENSATION
$26M
AGE
57
TENURE
1.1 yrs

Robert Millard

TITLE
Lead Independent Director
COMPENSATION
$300K
AGE
67
TENURE
11.4 yrs

Lew Kramer

TITLE
Independent Director
COMPENSATION
$288K
AGE
70
TENURE
9.9 yrs

Vincent Pagano

TITLE
Independent Director
COMPENSATION
$293K
AGE
68
TENURE
6.2 yrs

Tom Corcoran

TITLE
Independent Director
COMPENSATION
$278K
AGE
74
TENURE
21.9 yrs

Claude Canizares

TITLE
Independent Director
COMPENSATION
$278K
AGE
72
TENURE
16.1 yrs

Hugh Shelton

TITLE
Independent Director
COMPENSATION
$258K
AGE
76
TENURE
8.2 yrs

Fig Newton

TITLE
Independent Director
COMPENSATION
$258K
AGE
75
TENURE
6.8 yrs

Ann Dunwoody

TITLE
Independent Director
COMPENSATION
$263K
AGE
65
TENURE
6 yrs

Rita Lane

TITLE
Independent Director
COMPENSATION
$218K
AGE
56
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Feb 19 Sell Dan Azmon Individual 25. Feb 19 25. Feb 19 -1,973 €188.70 €-372,305
26. Feb 19 Sell Todd Gautier Individual 25. Feb 19 25. Feb 19 -3,600 €189.33 €-681,605
X
Management checks
We assess L3 Technologies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. L3 Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

L3H News

Simply Wall St News

L3H Company Info

Description

L3 Technologies, Inc. provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. It operates in three segments: Intelligence, Surveillance and Reconnaissance (ISR) Systems; Communications and Networked Systems (C&NS); and Electronic Systems. The company offers engineering, modernization and sustainment, space avionics and imaging payload, counter unmanned aircraft systems (CUAS) mission, cyber and electronic warfare, special mission command and control, modeling and simulation, and life cycle support services for ISR, airborne sensor, warrior sensor, space and sensor, aircraft, and intelligence and mission systems, as well as for military aviation services and advanced programs. It also provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals and space, microwave and telemetry products, and secure data links in various business areas, such as broadband communication, naval power, space and power, and maritime sensor systems, as well as in advanced communications. In addition, the company offers components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, including commercial aviation solutions, precision engagement systems, link training and simulation, and security and detection systems. It serves the United States (U.S.) Department of Defense and its prime contractors, the U.S. Government intelligence agencies, the U.S. Department of Homeland Security, foreign governments, and commercial customers. The company was formerly known as L-3 Communications Holdings, Inc. and changed its name to L3 Technologies, Inc. in December 2016. L3 Technologies, Inc. was founded in 1997 and is headquartered in New York, New York.

Details
Name: L3 Technologies, Inc.
L3H
Exchange: DB
Founded: 1997
$17,118,182,648
79,451,167
Website: http://www.l3t.com
Address: L3 Technologies, Inc.
600 Third Avenue,
New York,
New York, 10016,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE LLL New Common Stock New York Stock Exchange US USD 19. May 1998
DB L3H New Common Stock Deutsche Boerse AG DE EUR 19. May 1998
LSE 0JSS New Common Stock London Stock Exchange GB USD 19. May 1998
Number of employees
Current staff
Staff numbers
31,000
L3 Technologies employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/30 23:08
End of day share price update: 2019/06/28 00:00
Last estimates confirmation: 2019/06/27
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/29
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.