Declared Dividend • Aug 13
Second quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 13th October 2026 Payment date: 26th October 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 27%. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Duyuru • Aug 11
Elbit Systems Ltd. Declares Dividend, Payable on October 26, 2026 The Board of Directors of Elbit Systems Ltd. declared a dividend of $1.00 per share. The dividend's record date is October 13, 2026. The dividend will be paid on October 26, 2026, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Jul 13
Elbit Systems Ltd. to Report Q2, 2026 Results on Aug 11, 2026 Elbit Systems Ltd. announced that they will report Q2, 2026 results Pre-Market on Aug 11, 2026 Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €716, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 29x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 285% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €300 per share. Duyuru • Jul 02
Elbit Systems Ltd., Annual General Meeting, Aug 05, 2026 Elbit Systems Ltd., Annual General Meeting, Aug 05, 2026. Location: advanced technology center, haifa 3100401., Israel Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director Tzipi Livni was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 16
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 23 June 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (0.9%). Declared Dividend • Jun 01
First quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 23rd June 2026 Payment date: 6th July 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 31%. Duyuru • May 27
Elbit Systems Ltd. Declares Dividend, Payable on July 6, 2026 The Board of Directors of Elbit Systems Ltd. declared a dividend of $1.00 per share. The dividend's record date is June 23, 2026. The dividend will be paid on July 6, 2026, after deduction of withholding tax, at the rate of 16.8%. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: US$3.46 (vs US$2.40 in 1Q 2025) First quarter 2026 results: EPS: US$3.46 (up from US$2.40 in 1Q 2025). Revenue: US$2.19b (up 16% from 1Q 2025). Net income: US$160.8m (up 50% from 1Q 2025). Profit margin: 7.3% (up from 5.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 27
Elbit Systems Ltd. to Report Q1, 2026 Results on May 26, 2026 Elbit Systems Ltd. announced that they will report Q1, 2026 results Pre-Market on May 26, 2026 Duyuru • Mar 17
Elbit Systems Ltd. Declares Dividend, Payable on April 27, 2026 The Board of Directors of Elbit Systems Ltd. declared a dividend of $1.00 per share. The dividend's record date is April 13, 2026. The dividend will be paid on April 27, 2026, after deduction of taxes at the source, at the rate of 16.8%. Duyuru • Feb 17
Elbit Systems Ltd. to Report Q4, 2025 Results on Mar 17, 2026 Elbit Systems Ltd. announced that they will report Q4, 2025 results at 12:46 PM, Israel Standard Time on Mar 17, 2026 Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €580, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 41x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 277% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €273 per share. Duyuru • Nov 18
Elbit Systems Ltd. Declares Dividend, Payable on January 5, 2026 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.75 per share. The dividend's record date is December 22, 2025. The dividend will be paid on January 5, 2026, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Oct 27
Elbit Systems Ltd. to Report Q3, 2025 Results on Nov 18, 2025 Elbit Systems Ltd. announced that they will report Q3, 2025 results on Nov 18, 2025 Duyuru • Sep 20
Elbit Systems Ltd., Annual General Meeting, Oct 29, 2025 Elbit Systems Ltd., Annual General Meeting, Oct 29, 2025. Location: advanced technology center, haifa, Israel Duyuru • Aug 27
Elbit Systems Ltd.' JUPITER Space Camera Successfully Launches Aboard the NAOS Satellite, in Collaboration with OHB-Italia Elbit Systems Ltd. announced the successful launch of its advanced JUPITER space camera aboard the National Advanced Optical System (NAOS) satellite, supporting a wide span of earth Observation missions, including military operations, environmental monitoring and scientific research. The NAOS satellite, manufactured by OHB Italia S.p. A., was launched on August 26th from Vandenberg Space Force Base, California, USA, aboard a Falcon 9 rocket operated by SpaceX. Developed by Elbit Systems ISTAR&EW - ELOP, JUPITER is one of the world's most advanced space cameras, featuring a very large aperture and an exceptionally lightweight design. The camera is multispectral, offering a combination of imaging channels: A high-resolution panchromatic channel (black and white), which captures fine spatial details across the full visible spectrum. RGB channels (red, green, blue) for true-color imaging. A NIR channel (Near-Infrared), which enables analysis of vegetation health, water content, and material properties. The data generated by the JUPITER camera is designed for seamless integration with both onboard systems and ground station analytics platforms. Its compatibility with advanced image processing and AI engines enables the extension of actionable insights, supporting informed decision-making across a wide range of applications. In addition to the camera, Elbit Systems developed and supplied advanced algorithms to support the ground segment of the NAOS mission, enhancing image analysis capabilities. This achievement is the result of a close collaboration between OHB Italia and Elbit Systems, combining satellite engineering excellence with top-tier imaging technology to deliver one of the highest-performing spaceborne optical systems in the world. Declared Dividend • Aug 18
Second quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 15th October 2025 Payment date: 27th October 2025 Dividend yield will be 0.6%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 13
Elbit Systems Ltd. Declares Dividend, Payable on October 27, 2025 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.75 per share. The dividend's record date is October 14, 2025. The dividend will be paid on October 27, 2025, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Jul 30
Elbit Systems Ltd. to Report Q2, 2025 Results on Aug 13, 2025 Elbit Systems Ltd. announced that they will report Q2, 2025 results on Aug 13, 2025 Duyuru • May 20
Elbit Systems Ltd. Declares Dividend, Payable on July 7, 2025 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.60 per share. The dividend's record date is June 24, 2025. The dividend will be paid on July 7, 2025, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Mar 18
Elbit Systems Ltd. Declares Dividend, Payable on May 5, 2025 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.60 per share. The dividend's record date is April 22, 2025. The dividend will be paid on May 5, 2025, after deduction of taxes at the source, at the rate of 16.8%. Duyuru • Feb 26
Elbit Systems Ltd. to Report Q4, 2024 Results on Mar 18, 2025 Elbit Systems Ltd. announced that they will report Q4, 2024 results on Mar 18, 2025 Duyuru • Nov 19
Elbit Systems Ltd. Declares Dividend, Payable on January 6, 2025 Elbit Systems Ltd. declared a dividend of $0.50 per share. The dividend's record date is December 23, 2024. The dividend will be paid on January 6, 2025, after deduction of withholding tax, at the rate of 16.8%. Buy Or Sell Opportunity • Nov 15
Now 20% undervalued Over the last 90 days, the stock has risen 25% to €225. The fair value is estimated to be €282, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 6.0%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Duyuru • Oct 29
Elbit Systems Ltd. to Report Q3, 2024 Results on Nov 19, 2024 Elbit Systems Ltd. announced that they will report Q3, 2024 results on Nov 19, 2024 Upcoming Dividend • Oct 08
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 28 October 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (1.0%). Declared Dividend • Aug 18
Second quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 15th October 2024 Payment date: 28th October 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 16
Elbit Systems Ltd., Annual General Meeting, Sep 19, 2024 Elbit Systems Ltd., Annual General Meeting, Sep 19, 2024. Location: advanced technology center, haifa Israel Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: US$1.76 (vs US$1.41 in 2Q 2023) Second quarter 2024 results: EPS: US$1.76 (up from US$1.41 in 2Q 2023). Revenue: US$1.63b (up 12% from 2Q 2023). Net income: US$78.4m (up 26% from 2Q 2023). Profit margin: 4.8% (up from 4.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Duyuru • Aug 14
Elbit Systems Ltd. Declares Dividend, Payable on October 28, 2024 Elbit Systems Ltd. announced that the Board of Directors declared a dividend of $0.50 per share. The dividend's record date is October 15, 2024. The dividend will be paid on October 28, 2024, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Jul 18
Elbit Systems Ltd. to Report Q2, 2024 Results on Aug 14, 2024 Elbit Systems Ltd. announced that they will report Q2, 2024 results on Aug 14, 2024 Upcoming Dividend • Jun 13
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 18 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.5%). In line with average of industry peers (1.0%). Declared Dividend • May 30
First quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 18th June 2024 Payment date: 1st July 2024 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • May 29
First quarter 2024 earnings released: EPS: US$1.66 (vs US$1.40 in 1Q 2023) First quarter 2024 results: EPS: US$1.66 (up from US$1.40 in 1Q 2023). Revenue: US$1.55b (up 12% from 1Q 2023). Net income: US$73.7m (up 19% from 1Q 2023). Profit margin: 4.7% (up from 4.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Duyuru • May 29
Elbit Systems Ltd. Declares Dividend, Payable on July 1, 2024 Elbit Systems Ltd. declared a dividend of $0.50 per share. The dividend's record date is June 18, 2024. The dividend will be paid on July 1, 2024, after deduction of withholding tax, at the rate of 16.8%. Duyuru • May 07
Elbit Systems Ltd. to Report Q1, 2024 Results on May 28, 2024 Elbit Systems Ltd. announced that they will report Q1, 2024 results on May 28, 2024 Upcoming Dividend • Apr 17
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 24 April 2024. Payment date: 06 May 2024. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (1.0%). Declared Dividend • Mar 28
Fourth quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 24th April 2024 Payment date: 6th May 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: US$4.85 (vs US$6.22 in FY 2022) Full year 2023 results: EPS: US$4.85 (down from US$6.22 in FY 2022). Revenue: US$5.97b (up 8.4% from FY 2022). Net income: US$215.1m (down 22% from FY 2022). Profit margin: 3.6% (down from 5.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Duyuru • Mar 26
Elbit Systems Ltd. Declares Dividend, Payable on May 6, 2024 Elbit Systems Ltd. declared a dividend of $0.50per share. The dividend's record date is April 24, 2024. The dividend will be paid on May 6, 2024, after deduction of taxes at the source, at the rate of 16.8%. Buy Or Sell Opportunity • Feb 26
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 3.7% to €200. The fair value is estimated to be €161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 2.6%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 5.6% per annum over the same time period. Duyuru • Feb 26
Elbit Systems Ltd. to Report Q4, 2023 Results on Mar 26, 2024 Elbit Systems Ltd. announced that they will report Q4, 2023 results on Mar 26, 2024 Upcoming Dividend • Dec 19
Upcoming dividend of US$0.50 per share at 0.9% yield Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 08 January 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.5%). Reported Earnings • Nov 29
Third quarter 2023 earnings released: EPS: US$1.37 (vs US$1.27 in 3Q 2022) Third quarter 2023 results: EPS: US$1.37 (up from US$1.27 in 3Q 2022). Revenue: US$1.50b (up 11% from 3Q 2022). Net income: US$60.7m (up 8.0% from 3Q 2022). Profit margin: 4.0% (down from 4.2% in 3Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 29
Elbit Systems Ltd. Declares Dividend, Payable on January 8, 2024 Elbit Systems Ltd. declared a dividend of $0.50 per share. The dividend's record date is December 26, 2023. The dividend will be paid on January 8, 2024, after deduction of withholding tax, at the rate of 16.8%. Duyuru • Nov 06
Elbit Systems Ltd. to Report Q3, 2023 Results on Nov 28, 2023 Elbit Systems Ltd. announced that they will report Q3, 2023 results on Nov 28, 2023 Upcoming Dividend • Oct 03
Upcoming dividend of US$0.50 per share at 1.0% yield Eligible shareholders must have bought the stock before 10 October 2023. Payment date: 23 October 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (1.7%). Duyuru • Aug 17
Elbit Systems Ltd. Declares A Dividend, Payable on October 23, 2023 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.50 per share. The dividend's record date is October 10, 2023. The dividend will be paid on October 23, 2023, after deduction of withholding tax, at the rate of 16.8%. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: US$1.41 (vs US$1.83 in 2Q 2022) Second quarter 2023 results: EPS: US$1.41 (down from US$1.83 in 2Q 2022). Revenue: US$1.45b (up 12% from 2Q 2022). Net income: US$62.4m (down 23% from 2Q 2022). Profit margin: 4.3% (down from 6.2% in 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 09
Elbit Systems Ltd. Elects Tzipi Livni to the Board of Directors Elbit Systems Ltd. announced at annual general meeting held on August 8, 2023, the shareholders elected Mrs. Tzipi Livni to the board of directors of the company. Duyuru • Jul 17
Elbit Systems Ltd. to Report Q2, 2023 Results on Aug 15, 2023 Elbit Systems Ltd. announced that they will report Q2, 2023 results on Aug 15, 2023 Duyuru • Jun 27
Elbit Systems Ltd., Annual General Meeting, Aug 08, 2023 Elbit Systems Ltd., Annual General Meeting, Aug 08, 2023, at 14:00 Israel Standard Time. Location: offices at the Advanced Technology Center Haifa Israel Agenda: To elect to the Board the following seven members (Directors) who are not External Directors as defined in the Israeli Companies Law 5759-1999, to serve until the close of the next Annual General Meeting of Shareholders: Mr. Michael Federmann, Mr. Ehud (Udi) Adam, Mrs. Rina Baum, Mr. David Federmann, Mrs. Tzipi Livni, Mr. Dov Ninveh and Prof. Ehood (Udi) Nisan; to re-elect Mr. Noaz Bar Nir to an additional three-year term as an External Director; to approve the extension of the indemnification letters of Mr. Michael Federmann and Mr. David Federmann, for an additional three years commencing on December 1, 2023; and to transact such other business matter. Duyuru • Jun 22
Elbit Systems Ltd. Appoints Ehud (Udi) Adam as Member of the Board Elbit Systems Ltd. announced that pursuant to Article 23(d) of its Articles of Association, the Company's board of directors resolved to appoint Mr. Ehud (Udi) Adam as a member of the board, effective as of June 25, 2023, and until the next annual meeting of the Company's shareholders. Mr. Adam has served as a strategic consultant to various public and private companies in the technology sector since June 2020. From 2016 until May 2020, Mr. Adam served as director general of the Israeli Ministry of Defense. Since 2020, Mr. Adam has served as a director of Arma Ferrea Ltd., a company that develops and manufactures reactive armor systems, and as a director of Arma Kinetica Ltd., a company in the field of kinetic energy solutions. Since 2020, he has also served as chair of the board of Armalux Ltd., a company that engages in the field of laser systems. Since 2022, Mr. Adam has served as chair of the board of Ecology for Protected Community Ltd., a company that employs people with special needs to collect electronic waste. Since 2021, Mr. Adam has served as the chair of a public committee of the Geophysical Institute of Israel and, since 2011, he has served as president of "Midor Ledor", a non-profit community association. In 2016, Mr. Adam served as chair of the board of IMI Systems Ltd., formerly an Israeli government owned defense company later acquired by the Company. Mr. Adam served for 31 years in the Israeli Defense Forces, where he holds the rank of major general (reserves), and served as head of the Technological and Logistics Directorate and as head of the Northern Command. Mr. Adam holds a bachelor of arts degree in political science and government from Bar-Ilan University and a master's degrees in military and strategic leadership from Ecole de Guerre Paris. Mr. Adam will serve as an independent director under Nasdaq Listing Rules and the Israeli Companies Law and will serve on the following board committees: corporate governance and nominating committee, compensation committee and audit and financial statements review committee. As of June 25, 2023, Mr. Yoram Ben-Zeev will no longer serve as a director of Elbit Systems, having completed nine years of service as an Independent Director provided by the Israeli Companies Law. The board of directors thankes Mr. Ben-Zeev for his contributions to the Company during his tenure. Upcoming Dividend • Jun 19
Upcoming dividend of US$0.50 per share at 1.0% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 10 July 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.5%). Duyuru • May 30
Elbit Systems Ltd. Declares a Dividend, Payable on July 10, 2023 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.50 per share. The dividend's record date is June 26, 2023. The dividend will be paid on July 10, 2023, after deduction of withholding tax, at the rate of 16.8%. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €192, the stock trades at a trailing P/E ratio of 33.6x. Average forward P/E is 20x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €276 per share. Duyuru • May 17
Elbit Systems Ltd. to Report Q1, 2023 Results on May 30, 2023 Elbit Systems Ltd. announced that they will report Q1, 2023 results on May 30, 2023 Reported Earnings • May 04
Full year 2022 earnings released: EPS: US$6.22 (vs US$6.21 in FY 2021) Full year 2022 results: EPS: US$6.22 (up from US$6.21 in FY 2021). Revenue: US$5.51b (up 4.4% from FY 2021). Net income: US$275.4m (flat on FY 2021). Profit margin: 5.0% (down from 5.2% in FY 2021). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 11
Upcoming dividend of US$0.50 per share at 1.1% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 01 May 2023. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.4%). Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: US$6.22 (vs US$6.21 in FY 2021) Full year 2022 results: EPS: US$6.22 (up from US$6.21 in FY 2021). Revenue: US$5.51b (up 4.4% from FY 2021). Net income: US$275.4m (flat on FY 2021). Profit margin: 5.0% (down from 5.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 27 December 2022. Payment date: 09 January 2023. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (1.3%). Board Change • Dec 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent External Director Noaz Nir was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 30
Third quarter 2022 earnings released: EPS: US$1.27 (vs US$2.08 in 3Q 2021) Third quarter 2022 results: EPS: US$1.27 (down from US$2.08 in 3Q 2021). Revenue: US$1.35b (down 1.1% from 3Q 2021). Net income: US$56.2m (down 39% from 3Q 2021). Profit margin: 4.2% (down from 6.7% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Duyuru • Oct 31
Elbit Systems Ltd. to Report Q3, 2022 Results on Nov 29, 2022 Elbit Systems Ltd. announced that they will report Q3, 2022 results on Nov 29, 2022 Duyuru • Oct 07
Elbit Systems Ltd., Annual General Meeting, Nov 16, 2022 Elbit Systems Ltd., Annual General Meeting, Nov 16, 2022, at 14:00 Israel Standard Time. Location: Advanced Technology Center Haifa Israel Agenda: To re-elect to the Board the following seven members (“Directors”) who are not “External Directors” as defined in the Israeli Companies Law 5759-1999, to serve until the close of the next Annual General Meeting of Shareholders: Mr. Michael Federmann, Mrs. Rina Baum, Mr. Yoram Ben-Zeev, Mr. David Federmann, Mr. Dov Ninveh, Prof. Ehood (Udi) Nisan, and Prof. Yuli Tamir; to re-elect Mrs. Bilha (Billy) Shapira to an additional three-year term as an External Director; and to re-appoint Kost, Forer, Gabbay & Kasierer, a member of Ernst & Young Global, as the company’s independent auditor for the fiscal year ending December 31, 2022, and until the close of the next Annual General Meeting of Shareholders; and to consider other matters. Upcoming Dividend • Sep 29
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 06 October 2022. Payment date: 24 October 2022. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.5%). Lower than average of industry peers (1.6%). Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: US$1.83 (vs US$2.30 in 2Q 2021) Second quarter 2022 results: EPS: US$1.83 (down from US$2.30 in 2Q 2021). Revenue: US$1.30b (flat on 2Q 2021). Net income: US$81.2m (down 20% from 2Q 2021). Profit margin: 6.2% (down from 7.8% in 2Q 2021). Over the next year, revenue is forecast to grow 5.6%, compared to a 26% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Duyuru • Aug 17
Declares Dividend for the Second Quarter of 2022, Payable on October 24, 2022 Elbit Systems Ltd. declared a dividend of $0.5 per share for the second quarter of 2022. The dividend's record date is October 6, 2022. The dividend will be paid on October 24, 2022, after deduction of taxes at the source, at the rate of 16.8%. Duyuru • Jul 21
Elbit Systems Ltd. to Report Q2, 2022 Results on Aug 16, 2022 Elbit Systems Ltd. announced that they will report Q2, 2022 results on Aug 16, 2022 Duyuru • Jul 09
Elbit Systems Launches Innovative Helicopter Vision Suite That Enables Pilots to "Own the Weather" Elbit Systems unveils an innovative technological vision suite for military helicopters (a fifth generation aircraft technology). The new suite integrates a sophisticated sensor array, an Artificial Intelligence (AI) powered mission computer and a unique Helmet Mounted Display (HMD) system. The new suite enables helicopter pilots to see through the body of the aircraft and provides them with a real-time, clear, colored wide field of view, during day and night, in challenging weather and visibility condition. These capabilities address one of the toughest operational challenges of military helicopters – conducting low-altitude flights during degraded visibility conditions, significantly expanding the operational envelop of military helicopters, transforming extreme weather and other degraded visibility conditions into an operational advantage. The new technological suite is comprised of: the recently introduced X-Sight HMD system for helicopters; a new AI-powered mission computer for real-time data fusion and machine learning of obstacles and threats as well as for running operational applications; and an integrated array of sensor systems combining the innovative Xplore radar together with the operational BrightNite multi-spectral payload (that includes both day and Infra-Red cameras for thermal vision). The innovative Xplore is a compact sophisticated airborne radar that can be installed onboard any aircraft enabling flight during all visibility conditions. The radar generates a synthetic picture of flight route terrain, providing advanced warning of obstacles, such as power lines and antennas, enabling low altitude flight even in zero visibility. Installed on the helicopter's nose the integrated sensor array (BrightNite and the Xplore radar) provides a wide angle view of the flight path. The AI powered mission computer fuses the sensors' information together with preinstalled maps, flight and mission data, presenting on the visor of the X-Sight HMD a real-time color picture that includes an Augmented Reality overlay indicating obstacles, threats, the flight path and additional flight and mission information. Pilots can switch between operational applications with the touch of a button, from day flight to night flight to flight during heavy fog, landing pad analysis, obstacle mapping, collision alert and other. The new technology provides a step-change in several aspects. It enables pilots with the ability to extract and optimize the information provided by a range of different sensors (thermal, radar, laser); it exploits AI and fusion capabilities to process multiple information feeds into a single unified video picture; and it provides helicopter pilot with a binocular wide field of view HMD. The new technological suite was designed within an open architecture in full compliance with U.S. military standards for both hardware and software, offering increased flexibility for both users and partners. The technological suite enables customers and users to integrate sensors provided by different manufacturers, adopt different configurations, and develop and install additional applications on the mission computer. Upcoming Dividend • Jun 20
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 11 July 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (1.3%). Duyuru • Jun 14
Elbit Systems Ltd. Unveils A Simultaneous Multi-Mission Tactical Radar System Elbit Systems Ltd. launches DAiR, an innovative simultaneous multi-mission tactical radar. The system makes target prioritization redundant enabling a step change in the effectiveness and efficiency of tactical terrain dominance, protection against Unmanned Aerial Systems (UAS) and border security. The new radar will be presented during the Eurosatory 2022 as part of Elbit Systems' display (Hall 6, D567). The DAiR is an X-band software defined radar system that incorporates hundreds of digital receivers, sophisticated algorithms and computing cores with Artificial Intelligence capabilities. The system is capable of simultaneous detection and tracking of thousands objects of various sizes and velocities, with no need for target prioritization. These unique radar capabilities enable a tactical force to use a single radar system for handling of a very large number of targets of various types and ranges including: humans, small quadcopters, helicopters and UAS, vessels and artillery. Small drones are detected from up to 12km and humans from up to 15km. The DAiR radar systems is compatible with the All-purpose Structured EUROCONTROL Surveillance Information Exchange protocols (ASTERIX) enabling seamless sharing of information with C4I systems. Reported Earnings • May 26
First quarter 2022 earnings released: EPS: US$1.19 (vs US$1.64 in 1Q 2021) First quarter 2022 results: EPS: US$1.19 (down from US$1.64 in 1Q 2021). Revenue: US$1.35b (up 21% from 1Q 2021). Net income: US$52.8m (down 27% from 1Q 2021). Profit margin: 3.9% (down from 6.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.8%, compared to a 40% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. Duyuru • May 24
Elbit Systems Ltd. Declares Dividend for the First Quarter of 2022, Payable on July 11, 2022 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.50 per share for the first quarter of 2022. The dividend's record date is June 27, 2022. The dividend will be paid on July 11, 2022, after deduction of taxes at the source, at the rate of 16.8%. Duyuru • May 02
Elbit Systems Ltd. to Report Q1, 2022 Results on May 24, 2022 Elbit Systems Ltd. announced that they will report Q1, 2022 results on May 24, 2022 Buying Opportunity • Apr 07
Now 20% undervalued Over the last 90 days, the stock is up 29%. The fair value is estimated to be €249, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: US$6.21 (vs US$5.38 in FY 2020) Full year 2021 results: EPS: US$6.21 (up from US$5.38 in FY 2020). Revenue: US$5.28b (up 13% from FY 2020). Net income: US$274.4m (up 15% from FY 2020). Profit margin: 5.2% (up from 5.1% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.6%, compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 18% per year. Duyuru • Mar 29
Elbit Systems Ltd. Declares Dividend for the Fourth Quarter of 2021, Payable on April 25, 2022 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.50 per share for the fourth quarter of 2021. The dividend's record date is April 11, 2022. The dividend will be paid on April 25, 2022, after deduction of taxes at the source, at the rate of 16.8%. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 22% share price gain to €186, the stock trades at a trailing P/E ratio of 27x. Average forward P/E is 21x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 66% over the past three years. Buying Opportunity • Jan 24
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be US$189, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% per annum over the last 3 years. Earnings per share has grown by 8.9% per annum over the last 3 years. Upcoming Dividend • Dec 13
Upcoming dividend of US$0.46 per share Eligible shareholders must have bought the stock before 20 December 2021. Payment date: 03 January 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (1.7%). Reported Earnings • Nov 25
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: US$2.08 (up from US$0.38 in 3Q 2020). Revenue: US$1.36b (up 20% from 3Q 2020). Net income: US$91.9m (up 442% from 3Q 2020). Profit margin: 6.7% (up from 1.5% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.6%. Over the next year, revenue is forecast to grow 4.0%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Aug 23
Upcoming dividend of US$0.46 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 13 September 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.6%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS US$2.30 (vs US$2.02 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: US$1.30b (up 21% from 2Q 2020). Net income: US$101.7m (up 14% from 2Q 2020). Profit margin: 7.8% (down from 8.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 21 June 2021. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.5%). Reported Earnings • May 27
First quarter 2021 earnings released: EPS US$1.64 (vs US$1.44 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$1.12b (up 4.4% from 1Q 2020). Net income: US$72.5m (up 14% from 1Q 2020). Profit margin: 6.5% (up from 5.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Duyuru • May 25
Elbit Systems Ltd. Declares Dividend for the First Quarter of 2021, Payable on June 21, 2021 The Board of Directors of Elbit Systems Ltd. declared a dividend of $0.44 per share for the first quarter of 2021. The dividend's record date is June 7, 2021. The dividend will be paid from income generated as Preferred Income (as defined under Israeli tax laws), on June 21, 2021, net of taxes, at the rate of 20%. Upcoming Dividend • Apr 05
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 12 April 2021. Payment date: 26 April 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.6%). Reported Earnings • Mar 25
Full year 2020 earnings released The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$4.66b (up 3.4% from FY 2019). Net income: US$238.0m (up 4.4% from FY 2019). Profit margin: 5.1% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Duyuru • Mar 03
Elbit Systems Ltd. to Report Q4, 2020 Results on Mar 24, 2021 Elbit Systems Ltd. announced that they will report Q4, 2020 results on Mar 24, 2021 
