Elbit Systems Ltd's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Elbit Systems Ltd (ESLT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Elbit Systems Ltd vs Its Competitors
- TTM: Trailing 12-month revenue of 7,939M vs 428,782M combined for tracked competitors (1.8% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs accelerating (+4.0%) for its tracked peer group.
- Growth: Elbit Systems Ltd generated 16.3% revenue growth year over year in Q4 2025, vs 17.7% for its tracked competitors combined.
- Profitability: Its 6.8% net margin compares with 13.8% for the peer group.
- Scale: Elbit Systems Ltd ranks #9 of 56 companies by market capitalization in the Aerospace & Defense industry, holding 4.2% of industry market cap.
- Peer revenue share: Elbit Systems Ltd accounted for 6.7% of combined revenue among its tracked peer group, down from 6.7% a year earlier.
- Peer differentiation: Revenue per employee of $0.60M compares with $0.54M for the peer group (1.1x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ESLT Sales vs. its Competitors, Q4 2025
Elbit Systems Ltd reported revenue growth of 16.27 % year on year in Q4 2025, below its competitors' combined revenue growth of 17.70 %.
With a net margin of 6.75 %, Elbit Systems Ltd reported lower profitability than its competitors (13.78 %).
Elbit Systems Ltd generated 6.65 % of the combined sales of its peer group, down from 6.72 % a year earlier.
Elbit Systems Ltd vs. its Competitors, Q4 2025
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Elbit Systems Ltd and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Elbit Systems Ltd | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Elbit Systems Ltd's competitor groups requires a Commercial License.
For context: the Aerospace & Defense industry grew revenue 13.0% year over year, combined, vs 16.3% for Elbit Systems Ltd. Elbit Systems Ltd's share of combined industry revenue moved from 6.11% to 6.29%, a gain of 0.18 percentage points.
Elbit Systems Ltd's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Elbit Systems Ltd | Yes | Yes | Yes | No |
| Competitors combined (25) | ||||
| High-Confidence Competitors (8) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ESLT Stock Performance relative to its Competitors
ESLT Stock Performance relative to High-Confidence Competitors
ESLT Stock Performance relative to Similar-Size Competitors
ESLT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Sifco Industries Inc | 282.9% | Outperformed |
| 2 | Frequency Electronics Inc | 282.9% | Outperformed |
| 3 | Quicklogic Corp | 282.9% | Outperformed |
| 4 | Richardson Electronics Ltd | 282.9% | Outperformed |
| 5 | Science applications International corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Elbit Systems Ltd's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Elbit Systems Ltd's Comment on Competition and Industry Peers
Continuing consolidation in the defense industry has affected competition. In addition, many major prime contractors are increasing their in-house capabilities. These factors have decreased the number but increased the relative size and resources of our competitors. We adapt to market conditions by adjusting our business strategy to changing market conditions. We also anticipate continued competition in defense markets due to declining defense budgets in many countries.
Competitors in the sale of some of our products to the government of Israel include IAI and Rafael among others. From time to time we also cooperate with some of our competitors on specific projects. Outside of Israel, we compete in a number of areas with major international defense and homeland security contractors principally from the United States, Europe and Israel. Our main competitors include divisions and subsidiaries of Boeing, Lockheed Martin, Northrop Grumman, Raytheon, General Dynamics, BAE Systems, Rockwell Collins, L-3 Communications, Thales, Airbus, Finmeccanica, Saab, Harris, Textron, FLIR Systems, Rhode and Schwartz, Rheinmetall, Kongsberg, Safran, Aselsan, Bharat Electronics and Cubic. Many of these competitors have greater financial, marketing and other resources than ours. We also compete in the worldwide defense and homeland security markets with numerous smaller companies. In addition, we compete with a range of companies in the commercial avionics market. In certain cases we also engage in strategic cooperative activities with some of our competitors.
Overall, we believe we are able to compete on the basis of our systems development and technological expertise, our systems’ operationally-proven performance and our policy of offering customers overall solutions to technological, operational and financial needs.
Publicly Traded Peers of Elbit Systems Ltd
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Elbit Systems Ltd | 33,042.94 | 7,938.63 |
| Rtx Corporation | 256,155.90 | 93,500.00 |
| The Boeing Company | 145,778.73 | 93,995.00 |
| Lockheed Martin Corporation | 119,732.91 | 77,014.00 |
| General Dynamics Corporation | 91,602.95 | 53,808.00 |
| Northrop Grumman Corp | 72,025.92 | 42,892.00 |
| SUBTOTAL | 846,767.75 | 436,899.43 |
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Sources: Elbit Systems Ltd's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Elbit Systems Ltd versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Elbit Systems Ltd's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Aerovironment Inc | Named by the company | 85% |
| Rada Electronic Industries Ltd | Named by the company | 85% |
| Innovative Solutions And Support inc | Named by the company | 85% |
| Moog Inc | Named by the company | 85% |
| Leonardo Drs Inc | Named by the company | 85% |
| Geospace Technologies Corp | Named by the company | 85% |
| FLIR Systems | Named by the company | 85% |
| BAE Systems | Named by the company | 85% |
| DYNAMIC AEROSPACE SYSTEMS Corp | Named by the company | 85% |
| Bharat Electronics | Named by the company | 85% |
| L-3 Communications | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Elbit Systems Ltd's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Elbit Systems Ltd's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Elbit Systems Ltd | Land Systems 29.21 % |
| Rtx Corporation | Pratt and Whitney 35.98 % |
| The Boeing Company | Commercial Airplanes 47.85 % |
| Lockheed Martin Corporation | Aeronautics 40.43 % |
| General Dynamics Corporation | Marine Systems 32.36 % |
| Northrop Grumman Corp | Aeronautics Systems 32.36 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Elbit Systems Ltd's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Elbit Systems Ltd | 33,043 | 601,411 | 40,577 |
| Rtx Corporation | 256,156 | 519,444 | 45,139 |
| The Boeing Company | 145,779 | 516,456 | 13,440 |
| Lockheed Martin Corporation | 119,733 | 626,130 | 51,114 |
| General Dynamics Corporation | 91,603 | 459,897 | 37,103 |
| Northrop Grumman Corp | 72,026 | 5,718,933 | 599,467 |
| PEERS TOTAL | 813,725 | 543,048 | 40,074 |
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Elbit Systems Ltd's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Elbit Systems Ltd | Israel 32.20 % |
| Rtx Corporation | UNITED STATES 52.99 % |
| Lockheed Martin Corporation | United States 70.72 % |
| Northrop Grumman Corp | United States 85.81 % |
| Dover Corp | United States 55.59 % |
| Leidos Holdings Inc | United States 91.54 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Elbit Systems Ltd's Position in Industry Market Structure
Market-capitalization share and concentration across all 49 companies in Elbit Systems Ltd's industry classification, broader than the peer set above. Market cap in millions of $.Elbit Systems Ltd ranks #9 of 49 companies by market capitalization in its industry, holding 4.22 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 915, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | The Boeing Company | 150,084 | 18.81 % |
| 2 | Lockheed Martin Corporation | 120,403 | 15.09 % |
| 3 | Northrop Grumman Corp | 72,957 | 9.15 % |
| 4 | Transdigm Group Incorporated | 63,140 | 7.91 % |
| 5 | Garmin Ltd | 1,234 | 5.2% |
| 6 | Rocket Lab Corp | 1,234 | 5.2% |
| 7 | L3harris Technologies Inc | 1,234 | 5.2% |
| 8 | Axon Enterprise Inc | 1,234 | 5.2% |
| 9 | Elbit Systems Ltd | 33,664 | 4.22 % |
| 10 | Teledyne Technologies Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Elbit Systems Ltd's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Elbit Systems Ltd's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 4 | Transdigm Group Incorporated | 63,140 | -14.73 % |
| 5 | Garmin Ltd | 56,867 | 24.12 % |
| 6 | Rocket Lab Corp | 46,319 | 57.75 % |
| 7 | L3harris Technologies Inc | 44,303 | -18.22 % |
| 8 | Axon Enterprise Inc | 1,234 | 12.3% |
| 9 | Elbit Systems Ltd | 33,664 | 46.03 % |
| 10 | Teledyne Technologies Inc | 1,234 | 12.3% |
| 11 | Arxis Inc | 1,234 | 12.3% |
| 12 | Embraer S a | 1,234 | 12.3% |
| 13 | Textron Inc | 1,234 | 12.3% |
| 14 | Nextpower Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Elbit Systems Ltd's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Elbit Systems Ltd's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Aerospace & Defense industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (56 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 24.38 % | 30.24 % (avg) | -5.9 pp |
| Operating Margin | 8.46 % | industry median | +0.4 pp |
| EBITDA Margin | 9.27 % | 4.83 % (avg) | +4.4 pp |
| Capital Intensity (Capex / Revenue) | 2.84 % | 7.10 % (avg) | -4.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Elbit Systems Ltd's Valuation vs Competitive Position
Valuation multiples vs the Aerospace & Defense industry average (56 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 44.0x | 36.0x | +8.0x |
| EV / EBITDA | 31.2x | 21.5x | +9.7x |
| P/B | 5.7x | 5.2x | +0.5x |
| Return on Equity | 12.97 % | industry aggregate | -10.30 % |
| Return on Invested Capital | 6.49 % | 2.69 % (avg) | 3.80 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Elbit Systems Ltd's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 8.40 % | 14.28 % | 16.27 % |
| Operating Margin | 6.18 % | 7.16 % | 8.46 % |
| Return on Invested Capital | 4.99 % | 5.79 % | 6.49 % |
| P/E | 41.9x | 32.7x | 44.0x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Elbit Systems Ltd's Strategic Group Map
Every company in Elbit Systems Ltd's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Elbit Systems Ltd is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Elbit Systems Ltd's BCG Growth-Share Matrix
Relative market share (vs Elbit Systems Ltd's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Elbit Systems Ltd falls in the Question Mark quadrant: relative market share of 0.22x vs its largest competitor, in an industry growing revenue 15.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Elbit Systems Ltd's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 915 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 2.84 % vs industry average 7.10 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Elbit Systems Ltd's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Elbit Systems Ltd's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Elbit Systems Ltd's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Elbit Systems Ltd falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Elbit Systems Ltd's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 10.3 points below the industry aggregate.
- Low relative market share vs the industry leader (0.22x).
Opportunities
- Industry revenue growing at a healthy 15.0% median pace.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Elbit Systems Ltd's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Elbit Systems Ltd | 0.11 | 1.29 | 0.02 |
| Rtx Corporation | 0.12 | 1.03 | 0.70 |
| The Boeing Company | 0.08 | 1.17 | 22.01 |
| Lockheed Martin Corporation | 0.14 | 1.14 | 2.92 |
| General Dynamics Corporation | 0.14 | 1.40 | 0.33 |
| Northrop Grumman Corp | 0.20 | 1.13 | 0.89 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Elbit Systems Ltd's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Elbit Systems Ltd | Q4 2025 | +16.3 % | +66.4 % |
| Rtx Corporation | Q2 2026 | +14.5 % | +30.4 % |
| The Boeing Company | Q2 2026 | +8.0 % | - |
| Lockheed Martin Corporation | Q2 2026 | +10.5 % | +436.8 % |
| General Dynamics Corporation | Q1 2026 | +10.3 % | +13.2 % |
| Northrop Grumman Corp | Q2 2026 | +5.1 % | -6.8 % |
| PEERS TOTAL | +10.7 % | +36.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Elbit Systems Ltd's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Elbit Systems Ltd | Q4 2025 | +15.8 % | +4.9 % |
| Rtx Corporation | Q2 2026 | +50.7 % | +11.5 % |
| The Boeing Company | Q2 2026 | +9.0 % | +71.7 % |
| Lockheed Martin Corporation | Q2 2026 | +1.1 % | -9.4 % |
| General Dynamics Corporation | Q1 2026 | +13.1 % | +43.0 % |
| Northrop Grumman Corp | Q2 2026 | +34.2 % | +30.7 % |
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Elbit Systems Ltd's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Elbit Systems Ltd | 4.23% | 8.62% | 12.97% |
| Rtx Corporation | 4.75% | 6.63% | 12.06% |
| The Boeing Company | 1.51% | 4.33% | 105.14% |
| Lockheed Martin Corporation | 10.40% | 14.74% | 86.24% |
| General Dynamics Corporation | 7.52% | 13.52% | 17.41% |
| Northrop Grumman Corp | 8.93% | 11.14% | 26.58% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Elbit Systems Ltd's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Elbit Systems Ltd | 61.83 | 4.16 |
| Rtx Corporation | 32.98 | 2.74 |
| The Boeing Company | 67.05 | 1.55 |
| Lockheed Martin Corporation | 19.13 | 1.55 |
| General Dynamics Corporation | 20.99 | 1.70 |
| Northrop Grumman Corp | 16.10 | 1.68 |
| PEERS AVERAGE | 26.30 | 1.94 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.