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Side-by-side financial comparison of Ball Corporation (BALL) and L3Harris (LHX). Click either name above to swap in a different company.
L3Harris is the larger business by last-quarter revenue ($5.7B vs $3.6B, roughly 1.6× Ball Corporation). L3Harris runs the higher net margin — 8.9% vs 5.7%, a 3.2% gap on every dollar of revenue. On growth, L3Harris posted the faster year-over-year revenue change (24.0% vs 16.3%). L3Harris produced more free cash flow last quarter ($-187.0M vs $-938.0M). Over the past eight quarters, Ball Corporation's revenue compounded faster (10.3% CAGR vs 5.0%).
Ball Corporation is a leading global provider of innovative, sustainable aluminum packaging solutions for beverage, personal care, and household product brands. It also operates an aerospace segment that delivers advanced technologies, systems, and services to government and commercial customers worldwide, prioritizing environmental responsibility and product reliability across all operations.
L3Harris Technologies, Inc. is an American technology company, defense contractor, and information technology services provider that produces products for command and control systems, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment, intelligence, surveillance and reconnaissance (C3ISR) systems and products, ocean systems, instrumentation, navigation products, training devices and services, and both terrestrial/spaceborne antennas for use in the govern...
BALL vs LHX — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $3.6B | $5.7B |
| Net Profit | $205.0M | $512.0M |
| Gross Margin | — | 175.6% |
| Operating Margin | — | 11.4% |
| Net Margin | 5.7% | 8.9% |
| Revenue YoY | 16.3% | 24.0% |
| Net Profit YoY | 14.5% | 32.6% |
| EPS (diluted) | $0.77 | $2.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.6B | $21.9B | ||
| Q4 25 | $3.3B | $5.7B | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.3B | $5.4B | ||
| Q1 25 | $3.1B | $5.5B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.1B | $5.3B | ||
| Q2 24 | $3.0B | $5.3B |
| Q1 26 | $205.0M | — | ||
| Q4 25 | $200.0M | $462.0M | ||
| Q3 25 | $321.0M | — | ||
| Q2 25 | $215.0M | $458.0M | ||
| Q1 25 | $179.0M | $453.0M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $199.0M | $400.0M | ||
| Q2 24 | $159.0M | $366.0M |
| Q1 26 | — | 25.7% | ||
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 24.6% | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.7% | 26.8% | ||
| Q2 24 | 16.5% | 25.7% |
| Q1 26 | — | 9.7% | ||
| Q4 25 | 7.2% | 11.0% | ||
| Q3 25 | 11.6% | — | ||
| Q2 25 | 8.0% | 10.5% | ||
| Q1 25 | 7.4% | 10.3% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 7.4% | 9.4% | ||
| Q2 24 | 6.8% | 9.0% |
| Q1 26 | 5.7% | — | ||
| Q4 25 | 6.0% | 8.2% | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 6.4% | 8.4% | ||
| Q1 25 | 5.8% | 8.2% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | 6.5% | 7.6% | ||
| Q2 24 | 5.4% | 6.9% |
| Q1 26 | $0.77 | — | ||
| Q4 25 | $0.73 | $2.46 | ||
| Q3 25 | $1.18 | — | ||
| Q2 25 | $0.76 | $2.44 | ||
| Q1 25 | $0.63 | $2.37 | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.65 | $2.10 | ||
| Q2 24 | $0.51 | $1.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $730.0M | $590.0K |
| Total DebtLower is stronger | $7.0B | $350.0K |
| Stockholders' EquityBook value | $5.6B | $19.7M |
| Total Assets | $19.8B | $41.4M |
| Debt / EquityLower = less leverage | 1.25× | 0.02× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $730.0M | $1.1B | ||
| Q4 25 | $1.2B | $339.0M | ||
| Q3 25 | $568.0M | — | ||
| Q2 25 | $296.0M | $482.0M | ||
| Q1 25 | $449.0M | $615.0M | ||
| Q4 24 | $885.0M | — | ||
| Q3 24 | $1.4B | $539.0M | ||
| Q2 24 | $1.3B | $547.0M |
| Q1 26 | $7.0B | $10.4B | ||
| Q4 25 | $7.0B | $11.0B | ||
| Q3 25 | $6.9B | — | ||
| Q2 25 | $6.5B | $11.0B | ||
| Q1 25 | $6.1B | $11.1B | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.4B | $11.1B | ||
| Q2 24 | $5.5B | $10.5B |
| Q1 26 | $5.6B | $19.6B | ||
| Q4 25 | $5.4B | $19.5B | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $5.2B | $19.3B | ||
| Q1 25 | $5.5B | $19.5B | ||
| Q4 24 | $5.9B | — | ||
| Q3 24 | $6.7B | $19.0B | ||
| Q2 24 | $6.9B | $18.8B |
| Q1 26 | $19.8B | $41.2B | ||
| Q4 25 | $19.5B | $41.0B | ||
| Q3 25 | $18.7B | — | ||
| Q2 25 | $18.6B | $41.2B | ||
| Q1 25 | $18.0B | $42.0B | ||
| Q4 24 | $17.6B | — | ||
| Q3 24 | $18.8B | $41.9B | ||
| Q2 24 | $19.0B | $41.7B |
| Q1 26 | 1.25× | 0.53× | ||
| Q4 25 | 1.29× | 0.56× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.24× | 0.57× | ||
| Q1 25 | 1.12× | 0.57× | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | 0.80× | 0.58× | ||
| Q2 24 | 0.80× | 0.56× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-95.0M |
| Free Cash FlowOCF − Capex | $-938.0M | $-187.0M |
| FCF MarginFCF / Revenue | -26.0% | -3.3% |
| Capex IntensityCapex / Revenue | 4.5% | 1.7% |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | $596.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $546.0M | ||
| Q3 25 | $384.0M | — | ||
| Q2 25 | $332.0M | $640.0M | ||
| Q1 25 | $-665.0M | $1.1B | ||
| Q4 24 | $500.0M | — | ||
| Q3 24 | $610.0M | $780.0M | ||
| Q2 24 | $252.0M | $754.0M |
| Q1 26 | $-938.0M | — | ||
| Q4 25 | $1.0B | $427.0M | ||
| Q3 25 | $257.0M | — | ||
| Q2 25 | $236.0M | $552.0M | ||
| Q1 25 | $-746.0M | $1.0B | ||
| Q4 24 | $393.0M | — | ||
| Q3 24 | $493.0M | $702.0M | ||
| Q2 24 | $146.0M | $657.0M |
| Q1 26 | -26.0% | — | ||
| Q4 25 | 31.1% | 7.5% | ||
| Q3 25 | 7.6% | — | ||
| Q2 25 | 7.1% | 10.2% | ||
| Q1 25 | -24.1% | 18.3% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 16.0% | 13.3% | ||
| Q2 24 | 4.9% | 12.4% |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 5.1% | 2.1% | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 2.9% | 1.6% | ||
| Q1 25 | 2.6% | 2.1% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 3.8% | 1.5% | ||
| Q2 24 | 3.6% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | 6.05× | 1.18× | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.54× | 1.40× | ||
| Q1 25 | -3.72× | 2.49× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.07× | 1.95× | ||
| Q2 24 | 1.58× | 2.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BALL
| Beverage packaging, North and Central America | $1.8B | 49% |
| Beverage packaging, EMEA | $1.1B | 31% |
| Beverage packaging, South America | $585.0M | 16% |
| Other | $131.0M | 4% |
LHX
| Space & Mission Systems | $3.0B | 52% |
| Communication & Spectrum Dominance | $1.9B | 32% |
| Missile Solutions | $990.0M | 17% |
