Elbit Systems reported Q4 2025 revenue of $2.149 billion, an 11% increase, and full-year revenue of $7.939 billion, up 16%. Q4 EPS was $3.52 and full-year EPS was $11.39, while GAAP gross margins were 24.7% in Q4 and 24.4% for the full year and operating income reached $192 million and $671 million, respectively. The board declared a $1.00 per share dividend and the company filed its 2025 annual report on March 17, 2026.

The C4I and Cyber segment grew 19% in Q4, ISTAR & EW surged 39%, Land climbed 22% and Elbit Systems of America increased 9%, offset partially by a 14% decline in Aerospace revenues, mainly driven by lower training and simulation sales in Europe.

Backlog rose $5.5 billion year-over-year to $28.1 billion at December 31, 2025, with international customers accounting for 72%. The company secured a $2.3 billion strategic solutions contract and a $1.6 billion defense solutions contract with European nations during the quarter.

Capital expenditures rose to $225 million in 2025 with plans to increase to $300 million in 2026 to expand production facilities, particularly for munitions and electronic assemblies. New sites, including the Ramat Beka facility, are equipped with advanced technology, and customers are co-investing to boost capacity and vertical integration.