Elbit Systems Ltd. (ESLT) Key Metrics
ESLT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $35.40B
- Enterprise value
- $35.20B
- P/E (TTM)
- 56.8 10-yr median 27.3
- Forward P/E
- 9.7
- PEG ratio
- 8.79
- Price / sales
- 4.1 10-yr median 1.5
- Price / book
- 7.9 10-yr median 3.1
- EV / EBITDA
- 37.9 10-yr median 16.4
- Dividend yield
- 0.53% $4.00 a year
- Beta
- −0.30
ESLT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsESLT valuation Price multiples at each fiscal year-end price.
ESLT returns How much profit the business earns on the capital it uses.
ESLT per-share figures Results divided by the shares outstanding at year-end.
ESLT financial health Debt, liquidity and how easily interest is covered.
ESLT efficiency & capital use Working capital cycle and where the cash goes.
ESLT valuation history
ESLT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ESLT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ESLT cash returned to shareholders
ESLT price vs earnings per share
ESLT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $27.10B | $11.54B | $9.51B | $7.31B | $7.71B | $5.78B | $6.80B | $4.88B | $5.70B | $4.36B |
| Enterprise value | $27.25B | $12.64B | $10.77B | $8.39B | $8.90B | $6.71B | $7.81B | $5.45B | $5.98B | $4.52B |
| P/E ratio | 50.7 | 35.9 | 44.2 | 26.5 | 28.1 | 24.3 | 29.8 | 23.6 | 23.9 | 18.4 |
| Price / sales | 3.4 | 1.7 | 1.6 | 1.3 | 1.5 | 1.2 | 1.5 | 1.3 | 1.7 | 1.3 |
| Price / book | 6.6 | 3.5 | 3.2 | 2.7 | 3.0 | 2.6 | 3.2 | 2.7 | 3.3 | 2.8 |
| Price / free cash flow | 45.3 | 36.1 | — | 209.2 | 33.8 | 39.4 | — | 54.6 | — | 52.0 |
| Price / operating cash flow | 32.2 | 21.6 | 83.6 | 30.5 | 18.5 | 20.7 | — | 25.5 | 56.5 | 20.9 |
| EV / sales | 3.4 | 1.9 | 1.8 | 1.5 | 1.7 | 1.4 | 1.7 | 1.5 | 1.8 | 1.4 |
| EV / EBITDA | 33.9 | 20.0 | 22.0 | 16.9 | 15.9 | 15.6 | 19.0 | 14.2 | 14.4 | 10.9 |
| EV / free cash flow | 45.5 | 39.6 | — | 239.9 | 39.0 | 45.7 | — | 61.0 | — | 53.9 |
| Earnings yield | 2.0% | 2.8% | 2.3% | 3.8% | 3.6% | 4.1% | 3.4% | 4.2% | 4.2% | 5.4% |
| Free cash flow yield | 2.2% | 2.8% | −0.8% | 0.5% | 3.0% | 2.5% | −2.8% | 1.8% | −0.1% | 1.9% |
| Dividend yield | 0.4% | 0.8% | 0.9% | 1.2% | 1.0% | 1.4% | 0.9% | 1.5% | 1.3% | 1.6% |
| Shareholder yield (dividends + buybacks) | 0.4% | 0.8% | 0.9% | 1.2% | 1.0% | 1.4% | 0.9% | 1.5% | 1.3% | 1.6% |
| Share price at fiscal year-end | $577.71 | $258.07 | $213.25 | $164.04 | $174.13 | $130.80 | $155.06 | $114.02 | $133.29 | $101.89 |
| Per share | ||||||||||
| Revenue per share | $169.20 | $152.72 | $133.99 | $123.63 | $119.21 | $105.45 | $102.82 | $86.09 | $78.94 | $76.26 |
| Earnings per share | $11.39 | $7.18 | $4.82 | $6.18 | $6.20 | $5.38 | $5.20 | $4.83 | $5.59 | $5.54 |
| Operating cash flow per share | $17.96 | $11.96 | $2.55 | $5.38 | $9.42 | $6.31 | −$1.22 | $4.48 | $2.36 | $4.87 |
| Free cash flow per share | $12.75 | $7.15 | −$1.64 | $0.78 | $5.16 | $3.32 | −$4.35 | $2.09 | −$0.16 | $1.96 |
| Cash per share | $17.39 | $5.96 | $4.66 | $4.76 | $5.88 | $6.34 | $5.09 | $5.26 | $4.03 | $5.73 |
| Book value per share | $88.04 | $73.31 | $66.10 | $61.80 | $57.18 | $50.17 | $48.84 | $42.83 | $39.92 | $36.49 |
| Tangible book value per share | $49.20 | $32.03 | $23.72 | $18.34 | $11.46 | $13.81 | $11.53 | $12.88 | $22.34 | $19.49 |
| Dividends per share | $2.58 | $1.99 | $2.00 | $1.95 | $1.79 | $1.77 | $1.43 | $1.76 | $1.76 | $1.60 |
| Capex per share | $5.20 | $4.81 | $4.19 | $4.60 | $4.26 | $2.99 | $3.14 | $2.39 | $2.52 | $2.91 |
| Debt per share | $20.57 | $30.65 | $32.89 | $28.84 | $32.85 | $27.21 | $28.15 | $18.59 | $10.42 | $9.49 |
| Shares outstanding | 46.9M | 44.7M | 44.6M | 44.6M | 44.3M | 44.2M | 43.8M | 42.8M | 42.8M | 42.8M |
| Change in shares outstanding | +4.9% | +0.3% | +0.0% | +0.7% | +0.1% | +0.8% | +2.5% | 0.0% | +0.1% | +0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.4% | 10.3% | 7.5% | 10.4% | 11.6% | 10.9% | 11.5% | 11.7% | 14.6% | 16.0% |
| Return on invested capital (ROIC) | 14.4% | 10.6% | 8.2% | 8.8% | 8.0% | 9.0% | 10.7% | 11.9% | 14.2% | 15.6% |
| Return on assets (ROA) | 4.5% | 3.1% | 2.3% | 3.0% | 3.2% | 3.1% | 3.3% | 3.7% | 5.3% | 5.6% |
| Return on tangible assets | 4.9% | 3.5% | 2.7% | 3.8% | 3.8% | 3.7% | 4.0% | 4.0% | 6.0% | 6.5% |
| Free cash flow margin | 7.5% | 4.7% | −1.2% | 0.6% | 4.3% | 3.1% | −4.2% | 2.4% | −0.2% | 2.6% |
| Income quality (OCF / net income) | 1.58 | 1.66 | 0.53 | 0.87 | 1.52 | 1.17 | −0.23 | 0.93 | 0.42 | 0.88 |
| Financial health | ||||||||||
| Total debt | $965.0M | $1.37B | $1.47B | $1.29B | $1.45B | $1.20B | $1.23B | $795.3M | $445.7M | $405.5M |
| Cash & short-term investments | $815.9M | $266.7M | $207.9M | $212.1M | $260.2M | $280.3M | $223.3M | $224.9M | $172.6M | $245.1M |
| Net debt | $149.1M | $1.10B | $1.26B | $1.07B | $1.19B | $922.9M | $1.01B | $570.4M | $273.1M | $160.5M |
| Debt / equity | 0.23 | 0.42 | 0.50 | 0.47 | 0.57 | 0.54 | 0.58 | 0.43 | 0.26 | 0.26 |
| Debt / assets | 0.08 | 0.12 | 0.15 | 0.14 | 0.16 | 0.15 | 0.17 | 0.12 | 0.09 | 0.09 |
| Net debt / EBITDA | 0.19 | 1.74 | 2.58 | 2.17 | 2.13 | 2.15 | 2.46 | 1.49 | 0.66 | 0.39 |
| Current ratio | 1.29 | 1.20 | 1.14 | 1.18 | 1.24 | 1.18 | 1.16 | 1.13 | 1.25 | 1.27 |
| Quick ratio | 0.77 | 0.67 | 0.72 | 0.72 | 0.87 | 0.84 | 0.77 | 0.73 | 0.82 | 0.84 |
| Interest coverage | 14.5 | 3.8 | 4.7 | 7.1 | 21.5 | 4.6 | 8.1 | 8.9 | 12.8 | 13.3 |
| Working capital | $1.76B | $1.04B | $684.2M | $754.5M | $955.9M | $650.7M | $498.9M | $368.5M | $522.1M | $527.2M |
| Invested capital | $4.28B | $4.38B | $4.21B | $3.83B | $3.73B | $3.14B | $3.15B | $2.40B | $1.98B | $1.72B |
| Tangible asset value | $2.31B | $1.44B | $1.06B | $820.1M | $521.8M | $623.8M | $523.9M | $573.1M | $965.6M | $840.8M |
| Net current asset value | −$796.6M | −$1.34B | −$1.28B | −$1.43B | −$1.79B | −$1.55B | −$1.50B | −$1.32B | −$385.9M | −$331.4M |
| Graham number | $150.20 | $108.85 | $84.71 | $92.69 | $89.28 | $77.89 | $75.57 | $68.23 | $70.85 | $67.45 |
| Graham net-net per share | −$74.02 | −$82.87 | −$76.79 | −$72.54 | −$80.68 | −$67.26 | −$63.66 | −$58.79 | −$25.62 | −$26.71 |
| Capital allocation | ||||||||||
| Dividends paid | $120.9M | $89.0M | $89.2M | $86.8M | $79.2M | $78.2M | $62.6M | $75.3M | $75.3M | $68.4M |
| Share buybacks (net) | — | — | $0 | — | $20,000 | — | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 22.6% | 27.7% | 41.5% | 31.5% | 28.9% | 32.9% | 27.5% | 36.4% | 31.5% | 28.9% |
| Dividends + buybacks / free cash flow | 20.2% | 27.8% | — | 248.3% | 34.7% | 53.3% | — | 84.3% | — | 81.7% |
| Capex / revenue | 3.1% | 3.1% | 3.1% | 3.7% | 3.6% | 2.8% | 3.1% | 2.8% | 3.2% | 3.8% |
| Capex / operating cash flow | 29.0% | 40.2% | 164.5% | 85.4% | 45.2% | 47.4% | — | 53.4% | 106.9% | 59.7% |
| Capex / depreciation | 1.42 | 1.36 | 1.13 | 1.27 | 1.23 | 0.92 | 1.00 | 0.87 | 0.95 | 1.01 |
| Stock-based compensation / revenue | 0.3% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% |
| R&D / revenue | 6.5% | 6.8% | 7.1% | 7.9% | 7.5% | 7.7% | 7.4% | 7.8% | 7.8% | 7.8% |
| SG&A / revenue | 9.2% | 9.7% | 11.6% | 5.8% | 10.8% | 5.1% | 5.0% | 4.5% | 12.4% | 4.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 153.6 | 159.4 | 170.2 | 186.8 | 191.5 | 183.3 | 153.0 | 169.2 | 162.4 | 129.8 |
| Days of inventory on hand | 179.5 | 169.1 | 161.6 | 151.6 | 126.3 | 127.4 | 127.8 | 137.8 | 134.0 | 133.4 |
| Days payables outstanding | 86.8 | 91.4 | 94.3 | 92.2 | 94.5 | 100.9 | 92.1 | 95.0 | 88.2 | 68.5 |
| Cash conversion cycle (days) | 246.3 | 237.1 | 237.5 | 246.2 | 223.2 | 209.8 | 188.7 | 212.0 | 208.1 | 194.7 |
| Receivables turnover | 2.38 | 2.29 | 2.14 | 1.95 | 1.91 | 1.99 | 2.38 | 2.16 | 2.25 | 2.81 |
| Payables turnover | 4.20 | 3.99 | 3.87 | 3.96 | 3.86 | 3.62 | 3.96 | 3.84 | 4.14 | 5.33 |
| Inventory turnover | 2.03 | 2.16 | 2.26 | 2.41 | 2.89 | 2.87 | 2.86 | 2.65 | 2.72 | 2.74 |
| Asset turnover | 0.67 | 0.66 | 0.63 | 0.59 | 0.61 | 0.61 | 0.65 | 0.66 | 0.75 | 0.77 |
| Average receivables | $3.34B | $2.98B | $2.79B | $2.82B | $2.77B | $2.34B | $1.89B | $1.71B | $1.50B | $1.16B |
| Average payables | $1.43B | $1.30B | $1.16B | $1.05B | $1.02B | $966.8M | $851.2M | $704.9M | $573.9M | $430.7M |
| Average inventory | $2.95B | $2.40B | $1.99B | $1.72B | $1.36B | $1.22B | $1.18B | $1.02B | $871.6M | $838.7M |
| Intangibles / total assets | 14.4% | 16.8% | 19.4% | 21.0% | 21.7% | 20.0% | 22.3% | 19.9% | 16.0% | 16.7% |
Computed from ESLT's annual financial statements (latest annual report filed March 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ESLT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Elbit Systems traded at 50.7 times earnings, against a 10-year median of 27.3. Based on the latest twelve months, the trailing P/E is 56.8 and the forward P/E is 9.7. Elbit Systems earned a return on equity of 14.4% and a return on invested capital of 14.4% in fiscal 2025. It ended the year with $965.0 million of debt and $815.9 million in cash and short-term investments, net debt of $149.1 million. It returned $120.9 million to shareholders: $120.9 million in dividends and $0 in share buybacks, 20% of free cash flow. The share count rose 9.7% from 42.8M to 46.9M over 9 years.
See the ESLT income statement, the ESLT chart for price history, or the ESLT stock overview for the latest quote and news.
ESLT key metrics FAQ
What is Elbit Systems's P/E ratio?
Elbit Systems's trailing P/E ratio is 56.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.7. At the end of fiscal 2025 it was 50.7, compared with a 10-year median of 27.3.
What is Elbit Systems's EV/EBITDA?
Elbit Systems's enterprise value was 33.9 times EBITDA at the end of fiscal 2025 (enterprise value $27.3 billion, EBITDA $804.9 million); the current EV/EBITDA is 37.9.
What is Elbit Systems's return on equity?
Elbit Systems's return on equity (ROE) was 14.4% in fiscal 2025: net income of $534.3 million on average shareholders' equity of $3.7 billion.
What is Elbit Systems's ROIC?
Elbit Systems's return on invested capital was 14.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Elbit Systems have?
Elbit Systems had total debt of $965.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.23 and $149.1 million of net debt (0.19 times EBITDA).
What is Elbit Systems's dividend yield?
Elbit Systems's forward dividend yield is 0.53%. Elbit Systems paid $120.9 million in dividends in fiscal 2025 ($2.58 per share), a payout ratio of 22.6%.
What is Elbit Systems's free cash flow yield?
Elbit Systems generated $598.4 million of free cash flow in fiscal 2025, a free cash flow yield of 2.2% on its market value at year-end ($27.1 billion).
What is Elbit Systems's current ratio?
Elbit Systems's current ratio was 1.29 at the end of fiscal 2025: current assets were 1.29 times current liabilities.