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TickerESLT
SectorAerospace & Defense
Mkt cap$37.5B
EV / EBITDA46.5×
PostureQuiet Issuer
Composite32/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1027664

Elbit Systems Ltd.

ESLTQUIET ISSUERQUIET

Elbit Systems Ltd. reads as an Quiet Issuer (composite 32/100); Consistent Strategic Buyer deploying $10M across 0 disclosed transactions, down 97% vs the prior cycle · primary market A&D Components.

Lens

Disclosed M&A capital (2023–2025)

$10M

−97%

vs $385M in 2020–2022

Disclosed transactions

N/A

flat

1/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

32

/100

Quiet Issuer dominates · Quiet

Financial snapshot
Revenue$8.1B
EBITDA$861M
Enterprise value$37.8B
EV / Revenue4.7×
EV / EBITDA46.5×
P/EN/A
Cash$635M
Total debt$83M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

32/100

Companies actively deploying disclosed capital into M&A

  • $1.2B disclosed buyer spend

Buyer Cadence

0/100

Buyer-side companies with recent filing activity

Target Probability

18/100

Issuers showing target-side patterns from filings

  • 13 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 13 activism filings

Pressure Watch

4/100

Issuers facing activism, governance, or control pressure

  • 13 activism filings
  • Latest activism 12y ago; heavily discounted

Distress Watch

30/100

Issuers showing financial-distress filing patterns

  • Missing recent 10-Q
  • 13 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

22/100

Issuers with the highest filing-activity intensity

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $37.8B
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $385M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/A$10MN/AN/A
2022N/A$385MN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Geographic Expansion
    20%
  • Bolt On
    20%
  • Horizontal Consolidation
    20%
  • Vertical Integration
    20%
  • Technology Acquisition
    20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • technology_acquisition
  • vertical_integration
  • horizontal_consolidation
  • talent_acquisition
  • geographic_expansion
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

We have made in the past and plan to continue to make equity or asset acquisitions and investments in companies and technology ventures that we believe complement our business.

10-KFY2012

We have made in the past and plan to continue to make acquisitions and investments in companies and technology ventures that we believe complement our business.

10-KFY2010

Due to significant consolidation in our industry, we are more likely to compete with certain potential customers.

10-KFY2011

Our acquisitions are subject to governmental approvals.

10-KFY2012
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

A&D Components

Market spend (2023–2025)
$32.8B
Market spend (2020–2022)
$12.9B
Recent vs prior
+153%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

46.5×EV / EBITDA

ESLT trades at a +21.9-turn premium to the A&D Components peer median of 24.6×.

EV / Revenue
4.7×
Net debt / EBITDA
-0.6×
Peer median EV / EBITDA
24.6×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
Elbit Systems Ltd.ESLT
46.5×4.7×-0.6×$8.1B$10M
34.2×9.3×1.8×$4.6B$3.3B
31.5×2.4×-0.9×$92.2B$1.4B
29.1×6.6×-0.8×$48.4BN/A
20.1×10.1×5.7×$9.5B$3.5B
19.5×3.0×1.9×$90.4BN/A
16.0×2.6×-0.1×$22.5B$13.4B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in A&D Components. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)312026-03-17
  • 10-Q (quarterly)0N/A
  • 8-K (event)0N/A
  • Proxy / DEF 14A0N/A
  • Activism (13D / DFAN / PREC)132014-11-26

Signals on file

  • elevated

    Activism on file

    2014-11-26

    13 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Elbit Systems Ltd.: Issuer Brief | SE-Cluster