Elbit Systems Ltd.
- Open
- 755.38
- Day high
- 766.00
- Day low
- 749.65
- Prev close
- 732.66
- Volume
- 99K
- Mkt cap
- $35.9B
- P/E (TTM)
- 59.7
- EPS (TTM)
- $12.70
- P/B
- 8.4
- P/S
- 4.4
- Yield
- 0.46%
- Per share
- $3.50
- ▼Insiders net selling -$61.9M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
Elbit Systems Ltd. (ESLT) is a Industrials company listed on NASDAQ. The stock is up 75% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4).
Elbit Systems Ltd. (ESLT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ESLT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 26, 2026 | $3.44 | $3.87 | +12.5% | $2.2B | +2.1% |
| Mar 17, 2026 | $2.82 | $3.56 | +26.2% | $2.2B | +7.6% |
| Nov 18, 2025 | $2.75 | $3.35 | +21.8% | $1.9B | -6.9% |
| Aug 13, 2025 | $2.57 | $3.23 | +25.7% | $2.0B | -0.6% |
| May 20, 2025 | $2.30 | $2.57 | +11.7% | $1.9B | +4.1% |
| Mar 18, 2025 | $1.95 | $2.66 | +36.4% | $1.9B | +8.4% |
| Nov 19, 2024 | $1.86 | $2.21 | +18.8% | $1.7B | -3.5% |
| Aug 14, 2024 | $1.77 | $2.08 | +17.5% | $1.6B | -0.3% |
| May 28, 2024 | $1.35 | $1.81 | +34.1% | $1.5B | -5.3% |
| Nov 28, 2023 | $1.70 | $1.65 | -2.9% | $1.5B | +4.6% |
| Aug 15, 2023 | $1.53 | $1.57 | +2.6% | $1.5B | +5.4% |
| May 30, 2023 | $1.73 | $1.70 | -1.7% | $1.4B | +1.7% |
ESLT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 10, 2026 | Delmar Haim Danielofficer: Executive Vice President | Sell | 7,654 | $887.40 |
| Apr 10, 2026 | Delmar Haim Danielofficer: Executive Vice President | Option | 9,000 | $134.34 |
| Apr 10, 2026 | Delmar Haim Danielofficer: Executive Vice President | Tax | 1,346 | $898.47 |
| Apr 10, 2026 | Shmuely Yoramofficer: Executive Vice President | Option | 9,000 | $134.34 |
| Apr 10, 2026 | Shmuely Yoramofficer: Executive Vice President | Tax | 1,346 | $898.47 |
| Apr 10, 2026 | Shmuely Yoramofficer: Executive Vice President | Sell | 7,654 | $887.40 |
| Apr 10, 2026 | Vered Yehudaofficer: Executive Vice President | Option | 7,000 | $134.34 |
| Apr 10, 2026 | Vered Yehudaofficer: Executive Vice President | Tax | 1,047 | $898.47 |
| Apr 10, 2026 | Vered Yehudaofficer: Executive Vice President | Sell | 5,953 | $887.40 |
| Apr 10, 2026 | Sabag Oren Yaacovofficer: Executive Vice President | Option | 10,000 | $134.34 |
| Apr 10, 2026 | Sabag Oren Yaacovofficer: Executive Vice President | Tax | 1,496 | $898.47 |
| Apr 10, 2026 | Sabag Oren Yaacovofficer: Executive Vice President | Sell | 8,504 | $887.40 |
| Apr 10, 2026 | Ariel Jonathanofficer: Executive Vice President | Option | 9,000 | $134.34 |
| Apr 10, 2026 | Ariel Jonathanofficer: Executive Vice President | Tax | 1,346 | $898.47 |
| Apr 10, 2026 | Ariel Jonathanofficer: Executive Vice President | Sell | 7,654 | $887.40 |
Source: ESLT SEC Form 4 filings, latest Apr 10, 2026. For informational purposes only — not investment advice.
See the full ESLT insider & 13F page →Elbit Systems Ltd. company profile
Overview
Elbit Systems Ltd. (NASDAQ:ESLT) is an Israeli multinational defense technology company founded in 1966 and headquartered in Haifa, Israel. The company went public on NASDAQ in 1996 and has grown to become one of the world's leading defense contractors with approximately 19,000 employees globally. Elbit Systems has established itself as a comprehensive defense solutions provider, operating through multiple subsidiaries and facilities across Israel, the United States, Europe, Latin America, and the Asia-Pacific region. The company has evolved from a system provider to a full-spectrum defense technology company offering integrated solutions across air, land, and naval domains.
Business
Elbit Systems operates in the global defense and aerospace industry, developing and manufacturing advanced defense systems and technologies for military, homeland security, and commercial aviation applications. The defense industry serves government customers who require sophisticated military equipment, surveillance systems, and security solutions to protect national interests and maintain operational readiness. The company operates through five primary business segments: **Aerospace (approximately 37% of revenue)** encompasses military aircraft and helicopter systems, commercial aviation systems and aerostructures, and unmanned aircraft systems (UAS). This includes flight training simulators, aircraft maintenance services, and various airborne platforms. The segment also covers commercial aviation components and services for civilian aircraft manufacturers. **C4I and Cyber (approximately 29% of revenue)** focuses on command, control, communications, computer, intelligence systems, along with cybersecurity solutions. This segment develops radio communication systems, battlefield management systems, intelligence gathering platforms, and cyber defense technologies that help military forces coordinate operations and protect against digital threats. **ISTAR and Electronic Warfare (approximately 10% of revenue)** specializes in Intelligence, Surveillance, Target Acquisition, and Reconnaissance systems, combined with electronic warfare capabilities. Products include electro-optical systems, night vision equipment, countermeasures systems, and electronic warfare platforms that provide situational awareness and electronic attack/defense capabilities. **Land Systems (approximately 22% of revenue)** develops ground-based military systems including armored vehicle protection systems, precision munitions, artillery systems, and survivability solutions. Key products include the Iron Fist Active Protection System, PULS artillery rocket systems, and various guided munitions for land-based applications. **Elbit Systems of America** (separate reporting segment) operates as the company's U.S. subsidiary, providing defense systems and services specifically for the American market, including night vision systems, medical instrumentation, and various defense technologies tailored to U.S. military requirements.
Revenue model
Elbit Systems generates revenue primarily through direct product sales and long-term service contracts with government customers. The company operates as both a prime contractor and subcontractor, selling directly to defense ministries and government agencies, as well as partnering with other defense contractors on larger programs. Revenue streams include initial system sales, ongoing maintenance and support services, spare parts, upgrades, and training services. The company's customers are predominantly government entities, including the Israeli Ministry of Defense, the U.S. Department of Defense, NATO countries, and defense ministries across Asia-Pacific, Latin America, and other regions. Approximately 71% of the company's revenue comes from international customers outside Israel, demonstrating its global reach and diversification. Several factors influence Elbit's profitability and margins. **Positive margin drivers** include the shift toward higher-value integrated solutions rather than simple component supply, economies of scale from increased production volumes, and the company's focus on proprietary technologies that command premium pricing. The ongoing global increase in defense spending, particularly in Europe following geopolitical tensions, creates favorable pricing conditions. Additionally, long-term service contracts provide recurring revenue streams with relatively stable margins. **Margin pressures** come from intense competition in the defense industry, supply chain disruptions affecting component costs, and the cyclical nature of defense procurement cycles. Raw material price inflation, particularly for electronic components and specialized materials, can compress margins. The company also faces pressure to invest heavily in research and development (over 7% of revenues) to maintain technological leadership, which impacts near-term profitability. Currency fluctuations affect margins given the company's global operations and multi-currency revenue streams.
Competitive moat
Elbit Systems possesses a moderate to strong competitive moat built on several defensive characteristics, though it operates in a highly competitive and regulated industry. The company's primary moat stems from its technological expertise and intellectual property portfolio, accumulated over nearly six decades of defense innovation. Its comprehensive R&D capabilities, representing over 7% of revenues annually, enable the development of cutting-edge solutions that are difficult for competitors to replicate quickly. The company benefits from high customer switching costs due to the complex, mission-critical nature of defense systems. Once military organizations integrate Elbit's systems into their operations, replacing them requires significant time, training, and capital investment. This creates long-term customer relationships and recurring revenue opportunities through maintenance, upgrades, and spare parts. Elbit's multi-domestic strategy provides another layer of competitive protection. By establishing local manufacturing and development facilities in key markets like the United States, Europe, and Asia-Pacific, the company can navigate export restrictions and satisfy "buy local" requirements that often exclude foreign competitors. This geographic diversification also reduces dependence on any single market. However, the company's moat faces several challenges. The defense industry is characterized by intense competition from both established players like Lockheed Martin, Raytheon, and BAE Systems, as well as emerging defense technology companies. Government customers often prefer multiple suppliers to avoid over-dependence, limiting pricing power. Additionally, the industry's reliance on government budgets makes it vulnerable to political changes and fiscal constraints. Technological disruption poses an ongoing threat, particularly from companies developing autonomous systems, artificial intelligence applications, and cyber warfare capabilities. While Elbit invests heavily in these areas, nimble startups and technology giants entering the defense space could potentially leapfrog existing solutions.
Risks & safety
Elbit Systems demonstrates a **moderate margin of safety** with solid financial fundamentals but some areas of concern: **Liquidity and Solvency:** - Current ratio of 1.20 indicates adequate short-term liquidity coverage - Cash position of $265 million is relatively modest given the company's size - Debt-to-equity ratio of 0.42 represents manageable leverage levels - Strong operational cash flow of $535 million in 2024 supports operations - Free cash flow of $320 million provides financial flexibility **Valuation Metrics:** - P/E ratio of 35.7 appears elevated for a defense contractor - EV/EBITDA of 19.9 suggests premium valuation relative to industrial peers - Price-to-book ratio of 3.5 indicates market premium to tangible assets - Graham number of $109 suggests potential overvaluation at current price of $413 **Other Considerations:** - Record backlog of $22.6 billion provides revenue visibility - Working capital intensive business model ties up significant capital - Dependence on government customers creates concentration risk - Geopolitical exposure through significant Israeli operations
Recent development
Over the past few years, Elbit Systems has undergone significant strategic transformation and operational expansion. The company has been executing a comprehensive growth strategy focused on moving up the value chain from component supplier to integrated solutions provider. This shift has involved substantial investments in new production facilities globally, including expansions in Israel, the United States, and Europe. A major catalyst for recent development has been the October 2023 conflict in Israel, which dramatically accelerated demand for the company's products. Elbit responded by implementing 24/7 production schedules, rapidly scaling manufacturing capacity, and recruiting hundreds of new employees. The company fast-tracked the development of new ammunition production facilities, with a new site in Ramat Beka expected to become fully operational in 2025. The company has made significant investments in next-generation technologies, particularly in high-power laser systems for the Iron Beam air defense program, autonomous systems and AI integration, and precision munitions. Elbit has also expanded its electronic warfare capabilities and developed new loitering munition systems to address evolving battlefield requirements. Operationally, Elbit completed the implementation of a new enterprise resource planning (ERP) system to improve efficiency and scalability. The company has also focused on integrating artificial intelligence across its internal processes and product development cycles. Strategic acquisitions and partnerships have strengthened its position in key markets, while the expansion of Elbit Systems of America has enhanced its ability to serve U.S. government customers. The company's international expansion has been particularly notable, with significant contract wins in Europe, Asia-Pacific, and other regions. This geographic diversification has reduced dependence on the Israeli market while capitalizing on increased global defense spending following recent geopolitical tensions.
ESLT company profile · for informational purposes only — not investment advice.
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