ELBIT SYSTEMS LTD
ESLT · Aircraft Parts & Auxiliary Equipment, NEC · EDGAR filings ↗
Reference price $887.40 — last insider sale, 2026-04-09 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B82Defense electronics franchise with top-decile ROE and strong growth riding elevated defense demand.
Strengths
- Top-decile ROE (92nd pct), ROIC (88th pct), FCF margin (88th pct); net income +66% (80th pct) on +16% revenue
- Durable defense IP/backlog moat with very low debt (D/E 0.004)
Risks
- Modest gross (40th) and operating (60th) margins and tight liquidity (current/quick ~16th pct)
- Concentrated Israel/geopolitical exposure, boycott/sanction and industrial-participation risk
Notable findings
- Customer concentration~10% of revenue from one customer/distributor — Revenues from service contracts or performance obligations were less than 10% of total revenues in each of the fiscal years 2025, 2024 and 2023
- Strong balance sheetStrong balance sheet — $635M cash & investments
- Insider sellingInsider selling — 7 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$62M, last 6mo) Form 4 ↗
Key metrics
Gross margin
24.4%
Operating margin
8.5%
Net margin
6.7%
Return on equity
12.9%
Return on assets
4.2%
ROIC
12.8%
Revenue growth (QoQ)
16.3%
Net-income growth
66.4%
Debt / equity
0.0×
Net debt / EBITDA
-0.7×
Current ratio
1.3×
Free cash flow
$553M
EBITDA
$843M
Tangible book value
$2.3B
Cash & investments
$635M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-09 | Shmuely Yoram | Option exercise | 9.0K | $134.34 |
| 2026-04-09 | Shmuely Yoram | Tax withheld | 1.3K | $898.47 |
| 2026-04-09 | Shmuely Yoram | Sell | 7.7K | $887.40 |
| 2026-04-09 | Vered Yehuda | Option exercise | 7.0K | $134.34 |
| 2026-04-09 | Vered Yehuda | Tax withheld | 1.0K | $898.47 |
| 2026-04-09 | Vered Yehuda | Sell | 6.0K | $887.40 |
| 2026-04-09 | Sabag Oren Yaacov | Option exercise | 10K | $134.34 |
| 2026-04-09 | Sabag Oren Yaacov | Tax withheld | 1.5K | $898.47 |
| 2026-04-09 | Sabag Oren Yaacov | Sell | 8.5K | $887.40 |
| 2026-04-09 | Ariel Jonathan | Option exercise | 9.0K | $134.34 |
| 2026-04-09 | Ariel Jonathan | Tax withheld | 1.3K | $898.47 |
| 2026-04-09 | Ariel Jonathan | Sell | 7.7K | $887.40 |
| 2026-04-09 | Machlis Bezhalel | Option exercise | 30K | $134.34 |
| 2026-04-09 | Machlis Bezhalel | Tax withheld | 4.5K | $898.47 |
| 2026-04-09 | Machlis Bezhalel | Sell | 26K | $887.40 |
| 2026-04-09 | Kril Ran | Option exercise | 8.0K | $134.34 |
| 2026-04-09 | Kril Ran | Tax withheld | 1.2K | $898.47 |
| 2026-04-09 | Kril Ran | Sell | 6.8K | $887.40 |
| 2026-04-09 | Delmar Haim Daniel | Option exercise | 9.0K | $134.34 |
| 2026-04-09 | Delmar Haim Daniel | Tax withheld | 1.3K | $898.47 |
| 2026-04-09 | Delmar Haim Daniel | Sell | 7.7K | $887.40 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT02715388 ↗ | Proof of Concept - Digital Electro-optical Surgical Platform as Replacement for Operational Microscopes Retinal Detachment | NA | Completed | 2022-01-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-17 | 2025-12-31 | 0001027664-26-000005 ↗ |
| 20-F | 2025-03-20 | 2024-12-31 | 0001628280-25-013971 ↗ |
| 20-F | 2024-03-28 | 2023-12-31 | 0001628280-24-013449 ↗ |
| 20-F | 2023-05-01 | 2022-12-31 | 0001628280-23-014328 ↗ |
| 20-F | 2022-04-07 | 2021-12-31 | 0001628280-22-008651 ↗ |
| 20-F | 2021-03-24 | 2020-12-31 | 0001628280-21-005407 ↗ |
| 20-F | 2020-03-25 | 2019-12-31 | 0001628280-20-004030 ↗ |
| 20-F | 2019-03-19 | 2018-12-31 | 0001628280-19-003104 ↗ |
| 20-F | 2018-03-20 | 2017-12-31 | 0001628280-18-003366 ↗ |
| 20-F | 2017-03-22 | 2016-12-31 | 0001628280-17-002762 ↗ |
| 20-F | 2016-03-22 | 2015-12-31 | 0001628280-16-012845 ↗ |
| 20-F | 2015-03-11 | 2014-12-31 | 0001628280-15-001669 ↗ |