ESLTNasdaqAircraft Parts & Auxiliary Equipment, NECUS GAAP · USD

Elbit Systems Ltd

Elbit Systems Ltd. is an Israel-based defense technology company that develops, manufactures, integrates, and sustains mission systems and equipment for military and security customers. Its portfolio spans airborne, land, naval, unmanned, ISR, targeting, electronic warfare, command-and-control, and defense electronics solutions, with operations and subsidiaries in multiple countries.

Liikevaihto7 939milj. USD
+16,3 %v/v
Liikevoitto (EBIT)671milj. USD
+37,3 %v/v
EBIT-marginaali8,5%
+1,3 %-yks.v/v
Nettotulos534milj. USD
+66,4 %v/v
Vapaa kassavirta553milj. USD
+73,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

02 0004 0006 0008 000milj. USD2020: 4 663 milj. USD2020: EBIT 326 milj. USD20202021: 5 279 milj. USD2021: EBIT 419 milj. USD20212022: 5 512 milj. USD2022: EBIT 367 milj. USD20222023: 5 975 milj. USD2023: EBIT 369 milj. USD20232024: 6 828 milj. USD2024: EBIT 489 milj. USD20242025: 7 939 milj. USD2025: EBIT 671 milj. USD20257 939671
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
ISR and targeting solutions20 %

Sensors, optics, mission computers, and targeting subsystems for battlefield awareness.

Airborne systems20 %

Avionics, mission equipment, and self-protection systems for aircraft.

Unmanned systems15 %

UAV platforms, payloads, and autonomous mission solutions.

Land systems15 %

Ground-based command, protection, and soldier systems for armored and infantry forces.

Naval systems10 %

Maritime electronics, combat systems, and mission equipment for naval platforms.

Electronic warfare and C4I10 %

Electronic warfare, communications, and command-and-control systems.

Sustainment and support10 %

Upgrades, repairs, training, and lifecycle support for installed defense platforms.

Tuotteet

Raportoitu · osuus liikevaihdosta
91,9%FY2025100 %
  • Products91,9 %
  • Services8,1 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Elbit Systems sells primarily to defense ministries, armed forces, homeland security agencies, and government procurement bodies. It also serves prime contractors and platform integrators that embed its subsystems into aircraft, vehicles, naval platforms, and border/security networks. Demand is driven by long program cycles, technical qualification, and the need for mission-critical capability rather than commodity pricing.

Defense ministries and armed forces

Buy combat, ISR, avionics, and protection systems for military platforms and missions.

Homeland security agencies

Buy surveillance, border security, and situational-awareness systems for domestic protection.

Prime contractors and platform OEMs

Integrate Elbit subsystems into aircraft, vehicles, and naval platforms.

Defense sustainment customers

Buy upgrades, repairs, and lifecycle support for installed systems.

Export defense customers

Foreign government buyers seeking tailored defense electronics and mission systems.

Strategia

Elbit Systems focuses on delivering integrated, multi-domain defense capabilities that combine sensors, electronics, platforms, and sustainment. Its strategy is built around securing long-duration programs, expanding installed-base support, and using its technology stack to win larger system-level contracts and upgrades. The company also uses international subsidiaries and partnerships to address local procurement requirements and broaden market access.

Multi-domain system integrationKeskipitkä aikaväli

Bundling sensors, electronics, and platforms improves program win rates and customer stickiness.

Lifecycle sustainment expansionLyhyt aikaväli

Installed-base support extends revenue relationships beyond initial platform delivery.

International market accessKeskipitkä aikaväli

Local subsidiaries help meet procurement rules and strengthen customer proximity.

Maantiede

2025

Elbit Systems is headquartered in Israel but operates through a broad international footprint across dozens of countries on five continents. The company’s reported activity includes substantial business in the United States, Israel, and other defense markets where procurement is tied to national budgets and security priorities. This geographic mix creates exposure to government spending cycles, export controls, and country-specific political and operational conditions.

Israel33 %
Europe28 %
North America22 %
Asia Pacific16 %
Latin America1,3 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Elbit Systems depends heavily on government defense budgets, procurement timing, and export approvals, so program delays or policy shifts can affect demand and contract timing. The business also faces execution risk on long-term fixed-price programs, plus geopolitical and operational exposure tied to Israel, the United States, and other markets where it operates. Like other defense suppliers, it is exposed to competition, legal and regulatory reviews, and the risk that customer requirements or battlefield priorities change faster than product cycles.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Government budget and procurement dependence1Geopolitical and security disruption2Export controls and regulatory approvals3Program execution on long-term contracts4Competitive bidding pressure5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Government budget and procurement dependenceVaikutus: KorkeaTodennäköisyys: Korkea

    Most customers are defense and security agencies that buy through budgeted procurement cycles.

    Kohdistuu: Defense program timing

  2. Geopolitical and security disruptionVaikutus: KorkeaTodennäköisyys: Korkea

    Operations in Israel and conflict-sensitive regions can affect supply, staffing, and customer demand.

    Kohdistuu: Israel and broader Middle East

  3. Export controls and regulatory approvalsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Many products and contracts require government approvals across jurisdictions.

    Kohdistuu: International sales

  4. Program execution on long-term contractsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Long-duration, often fixed-price projects can suffer from cost overruns or delays.

    Kohdistuu: System integration and delivery

  5. Competitive bidding pressureVaikutus: KeskitasoTodennäköisyys: Korkea

    Defense contracts are contested and require ongoing technology investment to stay relevant.

    Kohdistuu: Global defense procurement

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition on long-term contracts

Mission systems and sustainment programs may be recognized over time or at delivery depending on contract terms.

Vaikutus: Revenue timing and quarterly comparability

Cost-to-complete estimates

Fixed-price integration and development contracts rely on management estimates of future costs.

Vaikutus: Gross margin and provision risk

Contract loss provisions

Loss-making programs may require upfront reserves when estimated costs exceed consideration.

Vaikutus: Earnings volatility

Goodwill and intangible assets

Defense acquisitions can create large intangibles that require impairment testing if expected cash flows change.

Vaikutus: Non-cash impairment charges

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026