Elbit Systems Ltd
NASDAQ:ESLT
Income Statement
Earnings Waterfall
Elbit Systems Ltd
Revenue
|
6B
USD
|
Cost of Revenue
|
-4.5B
USD
|
Gross Profit
|
1.5B
USD
|
Operating Expenses
|
-1.1B
USD
|
Operating Income
|
369.1m
USD
|
Other Expenses
|
-154m
USD
|
Net Income
|
215.1m
USD
|
Income Statement
Elbit Systems Ltd
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
2 925
N/A
|
2 928
+0%
|
2 927
0%
|
2 919
0%
|
2 958
+1%
|
2 982
+1%
|
3 029
+2%
|
3 071
+1%
|
3 108
+1%
|
3 122
+0%
|
3 177
+2%
|
3 193
+1%
|
3 260
+2%
|
3 288
+1%
|
3 302
+0%
|
3 322
+1%
|
3 378
+2%
|
3 447
+2%
|
3 521
+2%
|
3 615
+3%
|
3 684
+2%
|
3 887
+6%
|
4 059
+4%
|
4 265
+5%
|
4 508
+6%
|
4 558
+1%
|
4 573
+0%
|
4 606
+1%
|
4 663
+1%
|
4 710
+1%
|
4 933
+5%
|
5 162
+5%
|
5 279
+2%
|
5 513
+4%
|
5 514
+0%
|
5 499
0%
|
5 512
+0%
|
5 552
+1%
|
5 703
+3%
|
5 855
+3%
|
5 975
+2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(2 100)
|
(2 102)
|
(2 106)
|
(2 102)
|
(2 133)
|
(2 149)
|
(2 176)
|
(2 198)
|
(2 211)
|
(2 214)
|
(2 252)
|
(2 261)
|
(2 301)
|
(2 320)
|
(2 327)
|
(2 327)
|
(2 380)
|
(2 435)
|
(2 501)
|
(2 591)
|
(2 708)
|
(2 869)
|
(3 002)
|
(3 178)
|
(3 372)
|
(3 410)
|
(3 433)
|
(3 515)
|
(3 497)
|
(3 553)
|
(3 717)
|
(3 820)
|
(3 920)
|
(4 109)
|
(4 110)
|
(4 132)
|
(4 138)
|
(4 144)
|
(4 262)
|
(4 374)
|
(4 492)
|
|
Gross Profit |
825
N/A
|
825
+0%
|
822
0%
|
817
-1%
|
825
+1%
|
833
+1%
|
853
+2%
|
873
+2%
|
897
+3%
|
908
+1%
|
925
+2%
|
932
+1%
|
960
+3%
|
969
+1%
|
975
+1%
|
995
+2%
|
998
+0%
|
1 012
+1%
|
1 020
+1%
|
1 025
+0%
|
976
-5%
|
1 018
+4%
|
1 057
+4%
|
1 087
+3%
|
1 136
+5%
|
1 148
+1%
|
1 140
-1%
|
1 092
-4%
|
1 165
+7%
|
1 157
-1%
|
1 216
+5%
|
1 342
+10%
|
1 358
+1%
|
1 404
+3%
|
1 404
+0%
|
1 367
-3%
|
1 373
+0%
|
1 408
+3%
|
1 440
+2%
|
1 481
+3%
|
1 483
+0%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(585)
|
(580)
|
(580)
|
(577)
|
(578)
|
(587)
|
(603)
|
(619)
|
(628)
|
(636)
|
(648)
|
(643)
|
(661)
|
(675)
|
(676)
|
(692)
|
(679)
|
(688)
|
(659)
|
(667)
|
(683)
|
(713)
|
(783)
|
(790)
|
(815)
|
(822)
|
(778)
|
(807)
|
(839)
|
(828)
|
(887)
|
(926)
|
(940)
|
(1 010)
|
(1 013)
|
(1 013)
|
(1 006)
|
(1 005)
|
(1 051)
|
(1 060)
|
(1 114)
|
|
Selling, General & Administrative |
(365)
|
(367)
|
(367)
|
(362)
|
(356)
|
(352)
|
(363)
|
(373)
|
(385)
|
(399)
|
(402)
|
(402)
|
(422)
|
(427)
|
(428)
|
(433)
|
(414)
|
(413)
|
(420)
|
(426)
|
(441)
|
(463)
|
(487)
|
(513)
|
(516)
|
(519)
|
(508)
|
(497)
|
(515)
|
(499)
|
(521)
|
(550)
|
(559)
|
(617)
|
(631)
|
(629)
|
(639)
|
(625)
|
(647)
|
(656)
|
(689)
|
|
Research & Development |
(220)
|
(218)
|
(219)
|
(221)
|
(228)
|
(235)
|
(240)
|
(245)
|
(243)
|
(244)
|
(254)
|
(258)
|
(256)
|
(258)
|
(258)
|
(260)
|
(265)
|
(275)
|
(284)
|
(287)
|
(287)
|
(297)
|
(297)
|
(307)
|
(332)
|
(335)
|
(337)
|
(348)
|
(360)
|
(255)
|
(271)
|
(281)
|
(395)
|
(412)
|
(412)
|
(424)
|
(436)
|
(445)
|
(442)
|
(432)
|
(424)
|
|
Other Operating Expenses |
0
|
6
|
6
|
6
|
6
|
0
|
0
|
0
|
0
|
7
|
7
|
18
|
18
|
11
|
11
|
0
|
0
|
0
|
45
|
45
|
45
|
47
|
1
|
29
|
33
|
32
|
67
|
39
|
35
|
(74)
|
(94)
|
(94)
|
15
|
18
|
31
|
40
|
69
|
65
|
38
|
29
|
0
|
|
Operating Income |
239
N/A
|
246
+3%
|
242
-2%
|
241
0%
|
247
+3%
|
247
0%
|
250
+1%
|
255
+2%
|
269
+5%
|
272
+1%
|
277
+2%
|
290
+5%
|
299
+3%
|
294
-2%
|
299
+2%
|
303
+1%
|
319
+5%
|
324
+2%
|
361
+11%
|
358
-1%
|
293
-18%
|
306
+4%
|
274
-10%
|
297
+8%
|
322
+8%
|
326
+1%
|
363
+11%
|
285
-22%
|
326
+14%
|
329
+1%
|
329
+0%
|
416
+26%
|
419
+1%
|
393
-6%
|
391
-1%
|
354
-9%
|
367
+4%
|
403
+10%
|
389
-3%
|
422
+8%
|
369
-13%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(37)
|
(34)
|
(30)
|
(46)
|
(25)
|
(49)
|
(47)
|
(29)
|
(17)
|
(16)
|
(16)
|
(17)
|
(11)
|
(31)
|
(32)
|
(34)
|
(21)
|
(36)
|
(40)
|
(39)
|
(30)
|
(48)
|
(57)
|
(68)
|
(43)
|
(68)
|
(64)
|
(55)
|
(35)
|
(59)
|
(49)
|
(53)
|
(57)
|
(39)
|
(41)
|
(44)
|
(49)
|
(77)
|
(99)
|
(119)
|
(89)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(8)
|
0
|
0
|
0
|
(4)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
1
|
1
|
1
|
0
|
(23)
|
0
|
0
|
0
|
(3)
|
4
|
4
|
4
|
(9)
|
0
|
0
|
0
|
(13)
|
0
|
(5)
|
(5)
|
(17)
|
(15)
|
(8)
|
(11)
|
(29)
|
(2)
|
10
|
13
|
(29)
|
3
|
(11)
|
(12)
|
(13)
|
7
|
(4)
|
1
|
(26)
|
(24)
|
(13)
|
(20)
|
(54)
|
|
Pre-Tax Income |
203
N/A
|
213
+5%
|
213
+0%
|
194
-9%
|
199
+3%
|
198
-1%
|
203
+2%
|
226
+11%
|
249
+10%
|
260
+5%
|
265
+2%
|
277
+4%
|
279
+1%
|
263
-6%
|
267
+2%
|
269
+1%
|
285
+6%
|
288
+1%
|
316
+10%
|
314
-1%
|
237
-24%
|
243
+2%
|
209
-14%
|
218
+5%
|
246
+13%
|
257
+4%
|
309
+20%
|
243
-21%
|
262
+8%
|
273
+4%
|
268
-2%
|
351
+31%
|
348
-1%
|
361
+4%
|
346
-4%
|
311
-10%
|
293
-6%
|
303
+3%
|
277
-9%
|
283
+2%
|
226
-20%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(25)
|
(27)
|
(32)
|
(24)
|
(26)
|
(28)
|
(30)
|
(40)
|
(46)
|
(50)
|
(53)
|
(51)
|
(46)
|
(38)
|
(34)
|
(40)
|
(45)
|
(57)
|
(54)
|
(48)
|
(26)
|
(30)
|
(34)
|
(32)
|
(19)
|
(18)
|
(31)
|
(25)
|
(36)
|
(39)
|
(35)
|
(41)
|
(131)
|
(129)
|
(121)
|
(121)
|
(24)
|
(25)
|
(21)
|
(23)
|
(23)
|
|
Income from Continuing Operations |
178
|
186
|
181
|
170
|
174
|
170
|
173
|
185
|
202
|
210
|
212
|
226
|
234
|
225
|
233
|
229
|
240
|
232
|
262
|
266
|
211
|
213
|
175
|
186
|
227
|
239
|
278
|
217
|
225
|
235
|
233
|
310
|
217
|
232
|
225
|
190
|
268
|
278
|
255
|
260
|
204
|
|
Income to Minority Interest |
(8)
|
(9)
|
(8)
|
(10)
|
(8)
|
(7)
|
(7)
|
(5)
|
(4)
|
(4)
|
(3)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
0
|
(0)
|
(1)
|
(1)
|
|
Equity Earnings Affiliates |
13
|
13
|
12
|
9
|
6
|
4
|
2
|
3
|
5
|
5
|
9
|
9
|
5
|
7
|
7
|
9
|
11
|
13
|
11
|
10
|
(2)
|
(3)
|
(3)
|
(6)
|
2
|
3
|
(1)
|
4
|
13
|
12
|
26
|
25
|
23
|
23
|
9
|
8
|
7
|
7
|
11
|
11
|
12
|
|
Net Income (Common) |
184
N/A
|
190
+4%
|
185
-3%
|
170
-8%
|
171
+1%
|
168
-2%
|
169
+1%
|
184
+9%
|
203
+10%
|
210
+4%
|
219
+4%
|
233
+6%
|
237
+2%
|
230
-3%
|
239
+4%
|
237
-1%
|
239
+1%
|
243
+2%
|
272
+12%
|
275
+1%
|
207
-25%
|
208
+0%
|
169
-18%
|
177
+5%
|
228
+28%
|
241
+6%
|
276
+15%
|
221
-20%
|
238
+7%
|
247
+4%
|
259
+5%
|
334
+29%
|
239
-28%
|
255
+6%
|
234
-8%
|
198
-15%
|
275
+39%
|
285
+3%
|
266
-7%
|
270
+2%
|
215
-20%
|
|
EPS (Diluted) |
4.32
N/A
|
4.46
+3%
|
4.34
-3%
|
3.99
-8%
|
4.01
+1%
|
3.92
-2%
|
3.95
+1%
|
4.29
+9%
|
4.74
+10%
|
4.91
+4%
|
5.12
+4%
|
5.44
+6%
|
5.54
+2%
|
5.39
-3%
|
5.52
+2%
|
5.54
+0%
|
5.59
+1%
|
5.67
+1%
|
6.3
+11%
|
6.43
+2%
|
4.84
-25%
|
4.85
+0%
|
3.84
-21%
|
4.01
+4%
|
5.2
+30%
|
5.45
+5%
|
6.25
+15%
|
5
-20%
|
5.38
+8%
|
5.58
+4%
|
5.86
+5%
|
7.55
+29%
|
5.41
-28%
|
5.71
+6%
|
5.27
-8%
|
4.45
-16%
|
6.18
+39%
|
6.39
+3%
|
5.97
-7%
|
6.07
+2%
|
4.82
-21%
|